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CEMEX, S.A.B. de C.V.

(Registrant)

Date: October 27, 2022

/s/ Rafael Garza Lozano

Name: Rafael Garza Lozano

Title: Chief Comptroller

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Form 6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 or 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October, 2022

Commission File Number: 001-14946

CEMEX, S.A.B. de C.V.

(Translation of Registrant’s name into English)

Avenida Ricardo Margáin Zozaya #325, Colonia Valle del Campestre,

San Pedro Garza García, Nuevo León 66265, México

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Contents

1.	Press release dated October 27, 2022, announcing third quarter 2022 results for CEMEX, S.A.B. de C.V. (NYSE: CX) (“CEMEX”).

2.	Third quarter 2022 results for CEMEX.

3.	Presentation regarding third quarter 2022 results for CEMEX.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, CEMEX, S.A.B. de C.V. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

EXHIBIT INDEX


EXHIBIT NO.		DESCRIPTION

1.		Press release dated October 27, 2022, announcing third quarter 2022 results for CEMEX, S.A.B. de C.V. (NYSE: CX) (“CEMEX”).

2.		Third quarter 2022 results for CEMEX.

3.		Presentation regarding third quarter 2022 results for CEMEX.

Press Release

Exhibit 1

Media Relations

Jorge Pérez

+52 (81) 8259-6666

jorgeluis.perez@cemex.com

Analyst and Investor Relations

Alfredo Garza / Fabián Orta

+1 (212) 317-6011

+52 (81) 8888-4327

ir@cemex.com

LOGO

CEMEX REPORTS 13% TOP LINE GROWTH

DRIVEN BY STRONG PRICING

•

US and EMEA regions with double-digit and high single-digit EBITDA growth, respectively.

•

Year-to-date pricing more than covering input-cost inflation in dollar terms, but not yet sufficient for margin recovery.

•

Sequential reduction of approximately US$540 million in total debt, with leverage ratio decreasing to 2.82x.

•

Executing on portfolio rebalancing strategy, with close to US$600 million of divestments year-to-date.

•

CO₂emissions year-to-date reduced by ~23 kgs/ton, ~4% versus 2021.

•

Submitted a revised Climate Action roadmap to SBTi for alignment under the 1.5 degrees scenario, the most ambitious in the industry.

MONTERREY, MEXICO. OCTOBER 27, 2022 – CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today continued solid top line growth, with third quarter Net Sales growing 13%. Pricing was the main driver with cement, ready-mix and aggregates, increasing double digits. EBITDA and EBITDA margin continued to be impacted by persistent inflationary headwinds that outpaced the company’s pricing efforts.

Third Quarter 2022 CEMEX’s Consolidated Financial and Operational Highlights

•

Net Sales increased 13% to US$3,956 million.

•

Operating EBITDA decreased 6% to US$649 million.

•

Operating EBITDA margin declined by 3.2 pp year-over-year.

•

Free Cash Flow after Maintenance Capital Expenditures was US$182 million.

•

Net Income of US$494 million.

•

Return on capital employed, excluding goodwill, for previous 12 months of 12.7%.

“Our pricing achievements this year have allowed us to more than offset inflationary costs in dollar terms, but stubbornly high inflation and supply chain headwinds have delayed our ability to regain margins. We are fully committed to margin recovery and will continue our efforts in fourth quarter, as well as into 2023,” said Fernando A. González, CEO of CEMEX. “Importantly, we are making significant progress in decarbonizing our operations, reducing our carbon emissions by more than 8% since we introduced our climate action program, Future in Action. This achievement was driven by record levels of alternative fuel usage and clinker factor substitution. Our success to date gives us confidence that a more accelerated pathway for 2030 is possible, and we have submitted our new, more aggressive goals to the Science Based Targets initiative to be validated for alignment with their 1.5 degrees scenario.”

Third Quarter 2022 Regional Highlights

Net Sales in Mexico increased 9%, to US$948 million. Operating EBITDA decreased 12% to US$255 million.

CEMEX’s operations in the United States reported Net Sales of US$1,324 million, an increase of 19%. Operating EBITDA increased 10% to US$197 million.

In the Europe, Middle East, Africa and Asia region, Net Sales increased 16% to US$1,252 million. Operating EBITDA was US$186 million, 8% higher.

CEMEX’s operations in the South, Central America, and the Caribbean region reported Net Sales of US$393 million, an increase of 2%. Operating EBITDA declined 11% to US$90 million.

Note: All percentage variations related to Net Sales and EBITDA are on a like-to-like basis for the ongoing operations and for foreign exchange fluctuations compared to the same period of last year.

CEMEX is a global construction materials company that is building a better future through sustainable products and solutions. CEMEX is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. CEMEX is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the use of new technologies. CEMEX offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience, enabled by digital technologies. For more information, please visit: cemex.com

###

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances, and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from CEMEX’s expectations, including, among others, risks, uncertainties, and assumptions discussed in CEMEX’s most recent annual report and detailed from time to time in CEMEX’s other filings with the Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to CEMEX’s expectations and projections not producing the expected benefits and/or results. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Third quarter 2022 results for CEMEX

Exhibit 2

Third Quarter Results 2022

LOGO

The Reflection Space, Monterrey, Mexico

Built with Evolution, part of our Vertua family of sustainable products


		Stock Listing Information		Investor Relations

		NYSE (ADS)		In the United States:

		Ticker: CX		+ 1 877 7CX NYSE

		Mexican Stock Exchange		In Mexico:

		Ticker: CEMEXCPO		+ 52 (81) 8888 4292

		Ratio of CEMEXCPO to CX = 10:1		E-Mail: ir@cemex.com

LOGO

Operating and financial highlights

LOGO


	January - September												Third Quarter
										l-t-l												l-t-l
	2022			2021			% var			% var			2022			2021			% var			% var
Consolidated cement volume		47,807			50,470			(5	%)					15,700			16,909			(7	%)
Consolidated ready-mix volume		38,034			36,697			4	%					12,790			12,597			2	%
Consolidated aggregates volume		105,556			102,226			3	%					36,199			35,461			2	%
Net sales		11,708			10,806			8	%		12	%		3,956			3,693			7	%		13	%
Gross profit		3,614			3,555			2	%		5	%		1,205			1,194			1	%		6	%
as % of net sales		30.9	%		32.9	%		(2.0pp	)					30.5	%		32.3	%		(1.8pp	)
Operating earnings before other income and expenses, net		1,200			1,357			(12	%)		(10	%)		363			449			(19	%)		(15	%)
as % of net sales		10.2	%		12.6	%		(2.4pp	)					9.2	%		12.2	%		(3.0pp	)
SG&A expenses as % of net sales		7.8	%		7.5	%		0.3pp						8.1	%		7.4	%		0.7pp
Controlling interest net income (loss)		957			558			71	%					494			(376	)		N/A
Operating EBITDA		2,050			2,195			(7	%)		(4	%)		649			723			(10	%)		(6	%)
as % of net sales		17.5	%		20.3	%		(2.8pp	)					16.4	%		19.6	%		(3.2pp	)
Free cash flow after maintenance capital expenditures		162			769			(79	%)					182			368			(50	%)
Free cash flow		(122	)		494			N/A						72			254			(72	%)
Total debt		8,188			8,982			(9	%)					8,188			8,982			(9	%)
Earnings (loss) of continuing operations per ADS		0.48			0.37			29	%					0.18			(0.23	)		N/A
Fully diluted earnings (loss) of continuing operations per ADS ⁽¹⁾		0.48			0.37			29	%					0.18			(0.23	)		N/A
Average ADSs outstanding		1,479			1,495			(1	%)					1,475			1,494			(1	%)
Employees		43,864			46,543			(6	%)					43,864			46,543			(6	%)

This information does not include discontinued operations. Please see page 14 of this report for additional information.

Cement and aggregates volumes in thousands of metric tons. Ready-mix volumes in thousands of cubic meters.

In millions of U.S. dollars, except volumes, percentages, employees, and per-ADS amounts. Average ADSs outstanding are presented in millions.

Please refer to page 13 for end-of quarter CPO-equivalent units outstanding.

Consolidated net sales in the third quarter of 2022 reached US$4.0 billion, an increase of 13% on a like-to-like basis, compared to the third quarter of 2021. Higher prices in local currency terms in all our regions were the main driver of our top line growth.

Cost of sales, as a percentage of net sales, increased by 1.8pp to 69.5% during the third quarter of 2022, from 67.7% in the same period last year. The increase was mainly driven by higher energy costs, as well as higher freight and imports.

Operating expenses, as a percentage of net sales, increased by 1.2pp to 21.3% during the third quarter of 2022 compared with the same period last year, mainly due to higher logistic and distribution expenses.

Operating EBITDA in the third quarter of 2022 reached US$649 million, decreasing 6% on a like-to-like basis. During the quarter, a higher contribution in like-to-like terms, from the US and EMEA, was more than offset by declines in the rest of our regions.

Operating EBITDA margin decreased by 3.2pp from 19.6% in the third quarter of 2021 to 16.4% this quarter.

Controlling interest net income (loss) resulted in an income of US$494 million in the third quarter of 2022 versus a loss of US$376 million in the same quarter of 2021. The positive variation was mainly due to an impairment charge of ~US$500 million in 2021, lower financial expenses, and a positive variation in discontinued operations.


2022 Third Quarter Results		Page 2

Operating results

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Mexico


	January – September												Third Quarter
	2022			2021			% var			l-t-l % var			2022			2021			% var			l-t-l % var
Net sales		2,826			2,625			8	%		7	%		948			868			9	%		9	%
Operating EBITDA		862			920			(6	%)		(7	%)		255			289			(12	%)		(12	%)
Operating EBITDA margin		30.5	%		35.1	%		(4.6pp	)					26.9	%		33.3	%		(6.4pp	)

In millions of U.S. dollars, except percentages.


	Domestic gray cement						Ready-mix						Aggregates
Year-over-year percentage variation	January - September			Third Quarter			January - September			Third Quarter			January - September			Third Quarter
Volume		(9	%)		(7	%)		11	%		9	%		3	%		1	%
Price (USD)		16	%		17	%		15	%		16	%		20	%		21	%
Price (local currency)		15	%		17	%		14	%		16	%		19	%		21	%

In Mexico, net sales increased 9% during the third quarter of 2022 driven by our pricing strategy and a pickup in the formal sector. In local currency terms, cement prices grew 17%, ready-mix 16%, and aggregates 21%.

Cement volumes during the quarter declined 7%, mainly due to the normalization of bagged cement demand from the pandemic peak, as well as inflationary pressures impacting retail consumption, and temporary market share loss related to our pricing strategy. Ready mix and aggregates volumes increased 9% and 1%, respectively.

Growth in the formal sector continues to be explained by the Industrial and Commercial sector, with our volumes driven mainly by significant nearshoring activity in the border states, distribution and logistics, and tourism.

We continue to implement our pricing strategy, and, with our objective of recovering margins in mind, we announced a 7.5% increase in bagged cement effective October 10^th, 2022.

United States


	January – September												Third Quarter
	2022			2021			% var			l-t-l % var			2022			2021			% var			l-t-l % var
Net sales		3,817			3,261			17	%		17	%		1,324			1,116			19	%		19	%
Operating EBITDA		560			588			(5	%)		(5	%)		197			179			10	%		10	%
Operating EBITDA margin		14.7	%		18.0	%		(3.3pp	)					14.9	%		16.1	%		(1.2pp	)

In millions of U.S. dollars, except percentages.


	Domestic gray cement						Ready-mix						Aggregates
Year-over-year percentage variation	January - September			Third Quarter			January - September			Third Quarter			January - September			Third Quarter
Volume		3	%		2	%		3	%		(0	%)		5	%		3	%
Price (USD)		15	%		19	%		13	%		19	%		14	%		16	%
Price (local currency)		15	%		19	%		13	%		19	%		14	%		16	%

In the United States, sales and EBITDA grew by double digits despite the impact from Hurricane Ian that hit Florida in the quarter. We estimate the storm had an EBITDA impact of approximately US$11 million in the quarter. We secured a 2.4 percentage points sequential improvement in EBITDA margin, primarily reflecting recovery from the supply chain disruptions and maintenance costs of the second quarter.


2022 Third Quarter Results		Page 3

Operating results

LOGO

Prices for cement, ready-mix and aggregates grew between 16% and 19% year-over-year. Cement and aggregate volumes rose low single-digits while ready-mix was flat. Supply/demand dynamics remain quite tight in our markets with many of our customers still on allocation.

Europe, Middle East, Africa and Asia


	January - September												Third Quarter
	2022			2021			% var			l-t-l % var			2022			2021			% var			l-t-l % var
Net sales		3,731			3,628			3	%		14	%		1,252			1,252			0	%		16	%
Operating EBITDA		524			511			3	%		14	%		186			200			(7	%)		8	%
Operating EBITDA margin		14.0	%		14.1	%		(0.1pp	)					14.8	%		16.0	%		(1.2pp	)

In millions of U.S. dollars, except percentages.


	Domestic gray cement						Ready-mix						Aggregates
Year-over-year percentage variation	January - September			Third Quarter			January - September			Third Quarter			January - September			Third Quarter
Volume		(1	%)		(3	%)		1	%		(1	%)		1	%		1	%
Price (USD)		9	%		8	%		3	%		2	%		(1	%)		(3	%)
Price (local currency) (*)		22	%		26	%		12	%		16	%		9	%		12	%

EMEA continued to show remarkable resiliency despite the substantial macro challenges, with sales growing double-digit while EBITDA rose high single-digit. Top line growth was driven by double-digit price increases across all products.

Europe showed strong cement pricing traction with a 5% sequential increase and growing 30% year-over-year. Quarterly cement volumes for the region declined 3%, reflecting a drop in the Philippines and some weakness in private sector demand in Europe, attributable to the economic slowdown.

In the quarter, our European operations continued to lead the way in carbon action, achieving for the first time a more than 40% reduction in carbon emissions. This region is well on its way to complying with the EU emissions reduction target of at least 55% by 2030.

In the Philippines, cement volumes declined double-digit as the country transitions to a new government and macro challenges impact demand. Sequential prices increased 4%, the sixth consecutive quarter of improvement.

Our operations in Egypt and Israel continued to show strong top line and EBITDA growth.

(*)	Calculated on a volume-weighted-average basis at constant foreign-exchange rates


2022 Third Quarter Results		Page 4

Operating results

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South, Central America and the Caribbean


	January - September												Third Quarter
	2022			2021			% var			l-t-l % var			2022			2021			% var			l-t-l % var
Net sales		1,227			1,176			4	%		7	%		393			398			(1	%)		2	%
Operating EBITDA		298			322			(7	%)		(7	%)		90			102			(12	%)		(11	%)
Operating EBITDA margin		24.3	%		27.3	%		(3.0pp	)					22.8	%		25.6	%		(2.8pp	)

In millions of U.S. dollars, except percentages.


	Domestic gray cement						Ready-mix						Aggregates
Year-over-year percentage variation	January - September			Third Quarter			January - September			Third Quarter			January - September			Third Quarter
Volume		(6	%)		(12	%)		13	%		8	%		5	%		3	%
Price (USD)		9	%		11	%		(6	%)		(6	%)		(0	%)		0	%
Price (local currency) (*)		12	%		15	%		0	%		4	%		7	%		11	%

In our South, Central America and the Caribbean region, our sales grew 2% driven by a 15% cement price increase in local currency terms.

Formal sector continues to recover as evidenced by ready-mix and aggregates performance. Cement volumes declined as a result of bagged cement rebalancing, together with difficult weather conditions in the region.

As a result of higher energy costs, together with lower cement volumes, and geographic and product mix, EBITDA and EBITDA margin declined 11% and 2.8 percentage points, respectively, during the quarter.

In Colombia, while cement prices increased 12% in local currency terms, cement volumes declined 5% as a result of our pricing strategy.

In the Dominican Republic, our largest market currently in SCAC, cement volumes declined 16% mainly due to the stoppage of a cement kiln during the quarter as well as unfavorable impact of Hurricane Fiona. Prices increased 23% in local currency terms. Industry cement volumes remained flat during the quarter, supported by tourism, formal housing, nearshoring activity, and large infrastructure projects.

(*)	Calculated on a volume-weighted-average basis at constant foreign-exchange rates


2022 Third Quarter Results		Page 5

Operating results

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Operating EBITDA and free cash flow


	January - September									Third Quarter
	2022			2021			% var			2022			2021			% var
Operating earnings before other income and expenses, net		1,200			1,357			(12	%)		363			449			(19	%)
+ Depreciation and operating amortization		851			838						286			274

Operating EBITDA		2,050			2,195			(7	%)		649			723			(10	%)
- Net financial expense		396			450						138			136
- Maintenance capital expenditures		587			374						201			168
- Change in working capital		821			390						162			8
- Taxes paid		156			154						42			30
- Other cash items (net)		(68	)		64						(64	)		24
- Free cash flow discontinued operations		(4	)		(7	)					(12	)		(11	)

Free cash flow after maintenance capital expenditures		162			769			(79	%)		182			368			(50	%)

- Strategic capital expenditures		284			275						111			114

Free cash flow		(122	)		494			N/A			72			254			(72	%)

In millions of U.S. dollars, except percentages.

FCF after maintenance capex was lower than last year due to higher investment in working capital, lower EBITDA, and higher maintenance capex. The higher investment in working capital is primarily driven by healthy top line growth as well as the inflationary effect in our inventories, in addition to buildup necessary to address continued supply chain tightness. We expect to partially reverse the investment in working capital during the fourth quarter.

Information on debt


										Second Quarter
	Third Quarter													Third Quarter
	2022			2021			% var			2022				2022			2021
Total debt ⁽¹⁾		8,188			8,982			(9	%)		8,729		Currency denomination⁽³⁾
Short-term		5	%		4	%					5	%	U.S. dollar		77	%		70	%
Long-term		95	%		96	%					95	%	Euro		15	%		17	%
Cash and cash equivalents		397			869			(54	%)		490		Mexican peso		4	%		4	%

Net debt		7,791			8,113			(4	%)		8,239		Other		4	%		8	%

Consolidated net debt ⁽²⁾		7,669			8,092						8,123		Interest rate⁽⁴⁾

Consolidated leverage ratio ⁽²⁾		2.82			2.80						2.88		Fixed		74	%		88	%
Consolidated coverage ratio ⁽²⁾		6.51			5.31						6.74		Variable		26	%		12	%

In millions of U.S. dollars, except percentages and ratios.

⁽¹⁾	Includes leases, in accordance with International Financial Reporting Standards (IFRS).

⁽²⁾	Calculated in accordance with our contractual obligations under the 2021 Credit Agreement.

⁽³⁾	Includes the effect of our EUR-USD cross-currency swap

⁽⁴⁾	Includes the effect of our interest rate swap over USD-LIBOR (notional of $750 million maturing on November 2026), as well as the effect of our interest rate swap over MXN-TIIE (notional of $260 million maturing on November 2023)


2022 Third Quarter Results		Page 6

Operating results

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Consolidated Statement of Operations & Statement of Financial Position

CEMEX, S.A.B. de C.V. and Subsidiaries

(Thousands of U.S. dollars, except per ADS amounts)


	January - September												Third Quarter
										like-to-like												like-to-like
	2022			2021			% var			% var			2022			2021			% var			% var
STATEMENT OF OPERATIONS
Net sales		11,708,302			10,805,957			8	%		12	%		3,955,565			3,693,046			7	%		13	%
Cost of sales		(8,094,336	)		(7,250,460	)		(12	%)					(2,750,252	)		(2,499,538	)		(10	%)

Gross profit		3,613,966			3,555,497			2	%		5	%		1,205,313			1,193,507			1	%		6	%
Operating expenses		(2,414,332	)		(2,198,457	)		(10	%)					(841,895	)		(744,060	)		(13	%)

Operating earnings before other income and expenses, net		1,199,634			1,357,039			(12	%)		(10	%)		363,419			449,447			(19	%)		(15	%)
Other expenses, net		(6,278	)		(7,947	)		21	%					(12,734	)		(559,331	)		98	%

Operating earnings		1,193,357			1,349,092			(12	%)					350,685			(109,884	)		N/A
Financial expense		(264,980	)		(523,404	)		49	%					(43,331	)		(125,904	)		66	%
Other financial income (expense), net		(68,727	)		(68,889	)		0	%					(5,674	)		(23,952	)		76	%
Financial income		12,395			11,311			10	%					5,408			1,890			186	%
Results from financial instruments, net		1,157			(2,215	)		N/A						1,678			1,249			34	%
Foreign exchange results		(37,875	)		(33,379	)		(13	%)					2,174			(11,779	)		N/A
Effects of net present value on assets and liabilities and others, net		(44,404	)		(44,607	)		0	%					(14,933	)		(15,312	)		2	%
Equity in gain (loss) of associates		46,332			37,770			23	%					23,545			18,956			24	%

Income (loss) before income tax		905,982			794,569			14	%					325,225			(240,784	)		N/A
Income tax		(171,073	)		(226,249	)		24	%					(50,521	)		(97,660	)		48	%

Profit (loss) of continuing operations		734,908			568,320			29	%					274,704			(338,445	)		N/A
Discontinued operations		252,126			5,875			4192	%					233,582			(39,592	)		N/A

Consolidated net income (loss)		987,035			574,195			72	%					508,286			(378,037	)		N/A
Non-controlling interest net income (loss)		29,538			15,886			86	%					14,195			(1,870	)		N/A

Controlling interest net income (loss)		957,497			558,309			71	%					494,091			(376,167	)		N/A

Operating EBITDA		2,050,167			2,194,712			(7	%)		(4	%)		649,083			723,419			(10	%)		(6	%)
Earnings (loss) of continued operations per ADS		0.48			0.37			29	%					0.18			(0.23	)		N/A
Earnings (loss) of discontinued operations per ADS		0.17			0.00			4237	%					0.16			(0.03	)		N/A


	As of September 30
	2022			2021			% var
STATEMENT OF FINANCIAL POSITION
Total assets		26,603,032			26,780,305			(1	%)
Cash and cash equivalents		396,813			869,248			(54	%)
Trade receivables less allowance for doubtful accounts		1,814,788			1,659,402			9	%
Other accounts receivable		612,556			568,696			8	%
Inventories, net		1,571,880			1,212,196			30	%
Assets held for sale		222,568			62,635			255	%
Other current assets		164,997			138,453			19	%
Current assets		4,783,603			4,510,630			6	%
Property, machinery and equipment, net		10,941,920			11,050,641			(1	%)
Other assets		10,877,509			11,219,033			(3	%)

Total liabilities		15,686,529			16,788,813			(7	%)
Current liabilities		5,486,240			5,163,134			6	%
Long-term liabilities		6,859,864			7,757,937			(12	%)
Other liabilities		3,340,426			3,867,742			(14	%)

Total stockholder’s equity		10,916,503			9,991,492			9	%
Common stock and additional paid-in capital		7,810,104			7,810,104			0	%
Other equity reserves and subordinated notes		(1,659,506	)		(1,463,454	)		(13	%)
Retained earnings		4,344,919			3,192,616			36	%
Non-controlling interest and perpetual instruments		420,986			452,226			(7	%)


2022 Third Quarter Results		Page 7

Operating results

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Operating Summary per Country

In thousands of U.S. dollars


	January - September												Third Quarter
										like-to-like												like-to-like
	2022			2021			% var			% var			2022			2021			% var			% var
NET SALES
Mexico		2,825,912			2,625,166			8	%		7	%		947,601			868,352			9	%		9	%
U.S.A.		3,816,528			3,261,408			17	%		17	%		1,324,049			1,116,329			19	%		19	%
Europe, Middle East, Asia and Africa		3,730,839			3,628,202			3	%		14	%		1,252,041			1,251,959			0	%		16	%
Europe		2,569,653			2,535,950			1	%		14	%		860,038			889,173			(3	%)		14	%
Philippines		294,756			333,494			(12	%)		(3	%)		90,636			107,901			(16	%)		(5	%)
Middle East and Africa		866,431			758,757			14	%		20	%		301,366			254,885			18	%		29	%
South, Central America and the Caribbean		1,227,432			1,176,062			4	%		7	%		393,449			397,847			(1	%)		2	%
Others and intercompany eliminations		107,591			115,120			(7	%)		(4	%)		38,426			58,558			(34	%)		(34	%)

TOTAL		11,708,302			10,805,957			8	%		12	%		3,955,565			3,693,046			7	%		13	%

GROSS PROFIT
Mexico		1,308,775			1,333,183			(2	%)		(2	%)		414,182			436,182			(5	%)		(5	%)
U.S.A.		929,082			828,241			12	%		12	%		334,741			268,680			25	%		25	%
Europe, Middle East, Asia and Africa		928,354			926,094			0	%		12	%		319,733			341,844			(6	%)		9	%
Europe		654,073			663,400			(1	%)		11	%		234,964			260,131			(10	%)		7	%
Philippines		107,845			133,723			(19	%)		(12	%)		29,755			40,919			(27	%)		(18	%)
Middle East and Africa		166,437			128,971			29	%		37	%		55,014			40,795			35	%		49	%
South, Central America and the Caribbean		426,811			438,095			(3	%)		(1	%)		133,919			143,503			(7	%)		(4	%)
Others and intercompany eliminations		20,944			29,883			(30	%)		(30	%)		2,738			3,298			(17	%)		(17	%)

TOTAL		3,613,966			3,555,497			2	%		5	%		1,205,313			1,193,507			1	%		6	%

OPERATING EARNINGS BEFORE OTHER EXPENSES, NET
Mexico		735,749			802,243			(8	%)		(9	%)		212,276			250,909			(15	%)		(15	%)
U.S.A.		201,311			246,475			(18	%)		(18	%)		77,226			65,316			18	%		18	%
Europe, Middle East, Asia and Africa		281,671			261,067			8	%		20	%		105,075			118,482			(11	%)		3	%
Europe		160,822			160,187			0	%		14	%		71,664			90,387			(21	%)		(6	%)
Philippines		48,520			64,692			(25	%)		(21	%)		10,379			19,106			(46	%)		(43	%)
Middle East and Africa		72,330			36,188			100	%		116	%		23,032			8,989			156	%		190	%
South, Central America and the Caribbean		236,755			261,002			(9	%)		(9	%)		69,638			81,950			(15	%)		(14	%)
Others and intercompany eliminations		(255,852	)		(213,747	)		(20	%)		(20	%)		(100,796	)		(67,211	)		(50	%)		(50	%)

TOTAL		1,199,634			1,357,039			(12	%)		(10	%)		363,419			449,447			(19	%)		(15	%)


2022 Third Quarter Results		Page 8

Operating results

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Operating Summary per Country

EBITDA in thousands of U.S. dollars. EBITDA margin as a percentage of Net Sales.


	January - September												Third Quarter
										like-to-like												like-to-like
	2022			2021			% var			% var			2022			2021			% var			% var
OPERATING EBITDA
Mexico		861,609			920,192			(6	%)		(7	%)		255,349			289,246			(12	%)		(12	%)
U.S.A.		559,777			587,733			(5	%)		(5	%)		197,273			179,201			10	%		10	%
Europe, Middle East, Asia and Africa		523,870			510,849			3	%		14	%		185,781			199,800			(7	%)		8	%
Europe		320,745			338,511			(5	%)		7	%		126,406			148,371			(15	%)		1	%
Philippines		76,390			95,528			(20	%)		(14	%)		19,035			28,275			(33	%)		(27	%)
Middle East and Africa		126,736			76,810			65	%		76	%		40,340			23,154			74	%		94	%
South, Central America and the Caribbean		297,868			321,542			(7	%)		(7	%)		89,590			101,806			(12	%)		(11	%)
Others and intercompany eliminations		(192,957	)		(145,604	)		(33	%)		(34	%)		(78,910	)		(46,634	)		(69	%)		(74	%)

TOTAL		2,050,167			2,194,712			(7	%)		(4	%)		649,083			723,419			(10	%)		(6	%)

OPERATING EBITDA MARGIN
Mexico		30.5	%		35.1	%								26.9	%		33.3	%
U.S.A.		14.7	%		18.0	%								14.9	%		16.1	%
Europe, Middle East, Asia and Africa		14.0	%		14.1	%								14.8	%		16.0	%
Europe		12.5	%		13.3	%								14.7	%		16.7	%
Philippines		25.9	%		28.6	%								21.0	%		26.2	%
Middle East and Africa		14.6	%		10.1	%								13.4	%		9.1	%
South, Central America and the Caribbean		24.3	%		27.3	%								22.8	%		25.6	%

TOTAL		17.5	%		20.3	%								16.4	%		19.6	%


2022 Third Quarter Results		Page 9

Operating results

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Volume Summary

Cement and aggregates: Thousands of metric tons.

Ready-mix: Thousands of cubic meters.


	January - September							Third Quarter
	2022		2021		% var			2022		2021		% var
Consolidated cement volume ⁽¹⁾		47,807		50,470		(5	%)		15,700		16,909		(7	%)
Consolidated ready-mix volume		38,034		36,697		4	%		12,790		12,597		2	%
Consolidated aggregates volume ⁽²⁾		105,556		102,226		3	%		36,199		35,461		2	%

Per-country volume summary


	January - September			Third Quarter			Third Quarter 2022 vs.
	2022 vs. 2021			2022 vs. 2021			Second Quarter 2022
DOMESTIC GRAY CEMENT VOLUME
Mexico		(9	%)		(7	%)		(7	%)
U.S.A.		3	%		2	%		(1	%)
Europe, Middle East, Asia and Africa		(1	%)		(3	%)		(1	%)
Europe		3	%		(2	%)		(2	%)
Philippines		(11	%)		(16	%)		(9	%)
Middle East and Africa		4	%		11	%		15	%
South, Central America and the Caribbean		(6	%)		(12	%)		(4	%)
READY-MIX VOLUME
Mexico		11	%		9	%		2	%
U.S.A.		3	%		(0	%)		(7	%)
Europe, Middle East, Asia and Africa		1	%		(1	%)		(1	%)
Europe		(1	%)		(7	%)		(5	%)
Philippines		N/A			N/A			N/A
Middle East and Africa		4	%		11	%		7	%
South, Central America and the Caribbean		13	%		8	%		7	%
AGGREGATES VOLUME
Mexico		3	%		1	%		5	%
U.S.A.		5	%		3	%		0	%
Europe, Middle East, Asia and Africa		1	%		1	%		2	%
Europe		0	%		1	%		2	%
Philippines		N/A			N/A			N/A
Middle East and Africa		7	%		4	%		4	%
South, Central America and the Caribbean		5	%		3	%		8	%

⁽¹⁾	Consolidated cement volume includes domestic and export volume of gray cement, white cement, special cement, mortar, and clinker.

⁽²⁾	Consolidated aggregates volumes include aggregates from our marine business in UK.


2022 Third Quarter Results		Page 10

Operating results

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Price Summary

Variation in U.S. dollars


	January - September			Third Quarter			Third Quarter 2022 vs.
	2022 vs. 2021			2022 vs. 2021			Second Quarter 2022
DOMESTIC GRAY CEMENT PRICE
Mexico		16	%		17	%		1	%
U.S.A.		15	%		19	%		6	%
Europe, Middle East, Asia and Africa (*)		9	%		8	%		(2	%)
Europe (*)		9	%		10	%		(2	%)
Philippines		(0	%)		(1	%)		(2	%)
Middle East and Africa (*)		26	%		18	%		0	%
South, Central America and the Caribbean (*)		9	%		11	%		(2	%)
READY-MIX PRICE
Mexico		15	%		16	%		2	%
U.S.A.		13	%		19	%		8	%
Europe, Middle East, Asia and Africa (*)		3	%		2	%		(3	%)
Europe (*)		0	%		1	%		(4	%)
Philippines		N/A			N/A			N/A
Middle East and Africa (*)		9	%		6	%		1	%
South, Central America and the Caribbean (*)		(6	%)		(6	%)		(4	%)
AGGREGATES PRICE
Mexico		20	%		21	%		(1	%)
U.S.A.		14	%		16	%		1	%
Europe, Middle East, Asia and Africa (*)		(1	%)		(3	%)		(3	%)
Europe (*)		(3	%)		(4	%)		(4	%)
Philippines		N/A			N/A			N/A
Middle East and Africa (*)		5	%		2	%		4	%
South, Central America and the Caribbean (*)		(0	%)		0	%		1	%

(*)	Price variation in U.S. dollars calculated on a volume-weighted-average basis; price variation in local currency calculated on a volume-weighted-average basis at constant foreign-exchange rates


2022 Third Quarter Results		Page 11


Operating results

Variation in Local Currency


	January - September 2022 vs. 2021			Third Quarter 2022 vs. 2021			Third Quarter 2022 vs. Second Quarter 2022
DOMESTIC GRAY CEMENT PRICE
Mexico		15	%		17	%		2	%
U.S.A.		15	%		19	%		6	%
Europe, Middle East, Asia and Africa (*)		22	%		26	%		4	%
Europe (*)		24	%		30	%		5	%
Philippines		9	%		12	%		4	%
Middle East and Africa (*)		43	%		41	%		3	%
South, Central America and the Caribbean (*)		12	%		15	%		0	%
READY-MIX PRICE
Mexico		14	%		16	%		3	%
U.S.A.		13	%		19	%		8	%
Europe, Middle East, Asia and Africa (*)		12	%		16	%		2	%
Europe (*)		13	%		18	%		2	%
Philippines		N/A			N/A			N/A
Middle East and Africa (*)		12	%		13	%		2	%
South, Central America and the Caribbean (*)		0	%		4	%		2	%
AGGREGATES PRICE
Mexico		19	%		21	%		0	%
U.S.A.		14	%		16	%		1	%
Europe, Middle East, Asia and Africa (*)		9	%		12	%		2	%
Europe (*)		9	%		13	%		2	%
Philippines		N/A			N/A			N/A
Middle East and Africa (*)		8	%		8	%		5	%
South, Central America and the Caribbean (*)		7	%		11	%		8	%

(*)	Price variation in U.S. dollars calculated on a volume-weighted-average basis; price variation in local currency calculated on a volume-weighted-average basis at constant foreign-exchange rates


2022 Third Quarter Results		Page 12


Other information

Operating Expenses

The following table shows the breakdown of operating expenses for the period presented.


	January - September						Third Quarter
In thousands of US dollars	2022			2021			2022			2021
Administrative expenses		695,229			612,065			249,403			202,168
Selling expenses		223,066			201,308			72,864			71,259
Distribution and logistics expenses		1,354,577			1,239,875			471,113			424,236
Operating expenses before depreciation		2,272,873			2,053,248			793,381			697,662
Depreciation in operating expenses		141,459			145,209			48,514			46,398
Operating expenses		2,414,332			2,198,457			841,895			744,060
As % of Net Sales
Administrative expenses		5.9	%		5.7	%		6.3	%		5.5	%
SG&A expenses		7.8	%		7.5	%		8.1	%		7.4	%

Equity-related information

One CEMEX ADS represents ten CEMEX CPOs. One CEMEX CPO represents two Series A shares and one Series B share. The following amounts are expressed in CPO-equivalent terms.


Beginning-of-quarter outstanding CPO-equivalents			14,487,786,971

End-of-quarter outstanding CPO-equivalents			14,487,786,971

For purposes of this report, outstanding CPO-equivalents equal the total number of Series A and B shares outstanding as if they were all held in CPO form less CPOs held in subsidiaries, which as of September 30, 2022, were 20,541,277.

Derivative instruments

The following table shows the notional amount for each type of derivative instrument and the aggregate fair market value for all of CEMEX’s derivative instruments as of the last day of each quarter presented.


	Third Quarter									Second Quarter
	2022				2021					2022
In millions of US dollars	Notional amount		Fair value		Notional amount		Fair value			Notional amount		Fair value
Exchange rate derivatives ⁽¹⁾		1,862		38		1,006		5			1,822		(8	)
Interest rate swaps ⁽²⁾		1,010		59		1,322		(23	)		1,310		58
Fuel derivatives		164		21		67		40			111		63

		3,037		118		2,395		22			3,243		113

(1)

The exchange rate derivatives are used to manage currency exposures arising from regular operations, net investment hedge and forecasted transactions. As of September 30, 2022, the derivatives related to net investment hedge represents a notional amount of US$1,522 million.

(2)

Interest-rate swap derivatives are related to the Company’s bank loans. During 3Q22, in connection with debt expected to be issued during 2023, the Company settled interest rate swap forward for a notional amount of US$300 million as compared to 2Q22.

Under IFRS, companies are required to recognize all derivative financial instruments on the balance sheet as financial assets or liabilities, at their estimated fair market value, with changes in such fair market values recorded in the income statement, except when transactions are entered into for cash-flow-hedging purposes, in such cases, changes in the fair market value of the related derivative instruments are recognized temporarily in equity and then reclassified into earnings as the inverse effects of the underlying hedged items flow through the income statement. Moreover, in transactions related to net investment hedges, changes in fair market value are recorded directly in equity as part of the currency translation effect and are reclassified to the income statement only upon disposal of the net investment. As of September 30, 2022, in connection with its derivatives portfolio’s fair market value recognition, CEMEX recognized a positive change in mark to market as compared to 2Q22 which increased its net financial assets to US$118 million.


2022 Third Quarter Results		Page 13


Other information

Assets held for sale and discontinued operations

On August 31, 2022, with affiliates of Cementos Progreso Holdings, S.L., CEMEX concluded the sale of its operations in Costa Rica and El Salvador, agreed on December 29, 2021, for a total consideration related to the aggregate majority ownership of US$326 million. The assets divested consisted of one cement plant, one grinding station, seven ready-mix plants, one aggregates quarry, as well as one distribution center in Costa Rica and one distribution center in El Salvador. As of December 31, 2021, the assets and liabilities associated with these operations were presented in the Statement of Financial Position within the line items of “Assets held for sale” and “Liabilities directly related to assets held for sale”, as correspond. CEMEX’s operations of these assets from January 1 to August 31, 2022, and for the nine-month period ended September 30, 2021, are reported in the income statements, net of income tax, in the single line item “Discontinued operations.”

In connection with the sale of NEORIS’s 65% stake to Advent described elsewhere in this report, considering CEMEX’s loss of control, as of September 30, 2022, CEMEX’s remaining equity interest in NEORIS was remeasured at fair value and is presented in the line item “Investments in associates.” NEORIS’s operations for the nine-month periods ended September 30, 2022, and 2021 are reported in CEMEX’s income statements, net of income tax, in the single line item “Discontinued operations.”

On July 9, 2021, CEMEX concluded the sale of its white cement business to Çimsa Çimento Sanayi Ve Ticaret A.Ş. agreed in March 2019 for a price of approximately US$155 million. Assets sold included CEMEX’s Buñol cement plant in Spain and its white cement business outside Mexico and the United States. CEMEX’s operations of these assets from January 1 to July 9, 2021, are reported in the income statements, net of income tax, in the single line item “Discontinued operations.”

On March 31, 2021, CEMEX sold 24 concrete plants and one aggregates quarry in France to LafargeHolcim for approximately US$44 million. These assets were located in the Rhone Alpes region in the Southeast of France, east of CEMEX´s Lyon operations, which the company retained. CEMEX’s income statement for the nine-month period ended June 30, 2021, include the results of these assets, net of income tax, for the three-month period ended March 31, 2021, in the single line item “Discontinued operations.”

The following table presents condensed combined information of the income statements for the nine-month periods ended September 30, 2022 and 2021 of CEMEX’s discontinued operations, previously mentioned, in: a) Costa Rica and El Salvador from January 1 to August 31, 2022 and for the nine-month period ended September 30, 2021; b) NEORIS operations for the nine-month periods ended September 30, 2022 and 2021; c) Spain related to the white cement business from January 1 to July 9, 2021; and d) the southeast of France for the three-month period ended March 31, 2021:


STATEMENT OF OPERATIONS	Jan-Sep				Third Quarter
(Millions of U.S. dollars)	2022		2021		2022		2021
Sales		239		272		74		78
Cost of sales, operating expenses, and other expenses		-221		-271		-65		-95
Interest expense, net, and others		—		—		-19		2

Income before income tax		18		1		-10		-15

Income tax		-4		-13		4		-8

Income from discontinued operations		14		-12		-6		-23

Net gain on sale		238		18		240		-17

Income from discontinued operations		252		6		234		-40


2022 Third Quarter Results		Page 14

Other information

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Other significant transactions

On October 25, 2022, CEMEX formalized their previously announced partnership with Advent International in CEMEX’s digital accelerator Neoris. The partnership was formed to accelerate the growth and development of Neoris, a global tech consulting and digital transformation firm. The partnership with Advent will allow Neoris to further strengthen its capabilities and customer reach in the space by deepening its focus on cutting-edge, high-growth verticals such as artificial intelligence, data science, cloud solutions, and automation, among others. These verticals are aligned with CEMEX’s priorities for its continued digital transformation. Neoris is to continue focusing on strategic industries such as financial services, telecommunications, media, manufacturing, retail, and consumer packaged goods, among others. As part of the partnership, Advent acquired from CEMEX a 65% stake in Neoris for a consideration of approximately US$119 million. CEMEX will retain an approximate 35% stake and remain as a key strategic partner and customer of Neoris, supporting CEMEX’s efforts to provide a superior customer experience enabled by digital technologies. The transaction values Neoris at an enterprise valuation of approximately US$200 million.

As previously reported, in connection with the CO2 emission allowances in the European Union (the “Allowances”) under the EU Emissions Trading System (“EU ETS”), during the second half of March 2021, in different transactions, CEMEX sold 12.3 million Allowances for approximately €509 million (approximately US$600 million). This sale is included in the nine-month period ended September 30, 2021, as part of the line item “Other expenses, net”.

Impairment of property, plant and equipment, goodwill and other intangible assets in 3Q21

During the third quarter of 2021, rising input cost inflation and higher freight and supply chain disruptions led to a confirmation of impairment indicators in Spain, the United Arab Emirates (“UAE”) and other businesses. As a result, we recognized a non-cash aggregate goodwill impairment charge of approximately US$440 million comprised of, approximately, US$317 million related to our business in Spain, US$96 million related to our business in UAE, and US$27 million related to our IT business segment due to a reorganization. The impairment of goodwill in Spain and the UAE in 2021 resulted from an excess of the net book value of such businesses versus the discounted cash flow projections as of September 30, 2021, related to these reporting segments.

In addition, during the third quarter of 2021 we recognized non-cash impairment charges of intangible assets due to a technological revamp of certain internal use software of US$49 million. These non-cash charges recognized during the third quarter of 2021 did not impact our liquidity, Operating EBITDA and cash taxes payable, nevertheless our total assets, net income (loss) and equity were affected in each quarter.


2022 Third Quarter Results		Page 15

Definitions of terms and disclosures

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Methodology for translation, consolidation, and presentation of results

Under IFRS, CEMEX translates the financial statements of foreign subsidiaries using exchange rates at the reporting date for the balance sheet and the exchange rates at the end of each month for the income statement. Beginning on March 31, 2019, and for each subsequent period CEMEX reports its consolidated results in U.S. dollars.

Breakdown of regions and subregions

The South, Central America and the Caribbean region includes CEMEX’s operations in Bahamas, Colombia, the Dominican Republic, Guatemala, Guyana, Haiti, Jamaica, Trinidad & Tobago, Barbados, Nicaragua, Panama, Peru, and Puerto Rico, as well as trading operations in the Caribbean region.

The EMEA region includes Europe, Middle East, Asia, and Africa. Asia subregion includes our Philippines operations.

Europe subregion includes operations in Spain, Croatia, the Czech Republic, France, Germany, Poland, and the United Kingdom.

Middle East and Africa subregion include the United Arab Emirates, Egypt, and Israel.

Definition of terms

Free cash flow equals operating EBITDA minus net interest expense, maintenance, and strategic capital expenditures, change in working capital, taxes paid, and other cash items (net other expenses less proceeds from the disposal of obsolete and/or substantially depleted operating fixed assets that are no longer in operation and coupon payments on our perpetual notes).

l-t-l (like to like) on a like-to-like basis adjusting for currency fluctuations and for investments/divestments when applicable.

Maintenance capital expenditures equal investments incurred for the purpose of ensuring the company’s operational continuity. These include capital expenditures on projects required to replace obsolete assets or maintain current operational levels, and mandatory capital expenditures, which are projects required to comply with governmental regulations or company policies.

Net debt equals total debt (debt plus convertible bonds and financial leases) minus cash and cash equivalents.

Operating EBITDA equals operating earnings before other income and expenses, net, plus depreciation and operating amortization.

pp equals percentage points

Prices all references to pricing initiatives, price increases or decreases, refer to our prices for our products

SG&A expenses equal selling and administrative expenses

Strategic capital expenditures equal investments incurred with the purpose of increasing the company’s profitability. These include capital expenditures on projects designed to increase profitability by expanding capacity, and margin improvement capital expenditures, which are projects designed to increase profitability by reducing costs.

Working capital equals operating accounts receivable (including other current assets received as payment in kind) plus historical inventories minus operating payables.

% var percentage variation

Earnings per ADS

Please refer to page 2 for the number of average ADSs outstanding used for the calculation of earnings per ADS.

According to the IAS 33 Earnings per share, the weighted-average number of common shares outstanding is determined considering the number of days during the accounting period in which the shares have been outstanding, including shares derived from corporate events that have modified the stockholder’s equity structure during the period, such as increases in the number of shares by a public offering and the distribution of shares from stock dividends or recapitalizations of retained earnings and the potential diluted shares (Stock options, Restricted Stock Options and Mandatory Convertible Shares). The shares issued because of share dividends, recapitalizations and potential diluted shares are considered as issued at the beginning of the period.


Exchange rates	January - September				Third Quarter				Third Quarter
	2022		2021		2022		2021		2022		2021
	Average		Average		Average		Average		End of period		End of period
Mexican peso		20.19		20.29		20.21		20.20		20.14		20.61
Euro		0.9467		0.8378		0.9995		0.8509		1.0198		0.8637
British pound		0.8047		0.722		0.8584		0.7285		0.8965		0.7422

Amounts provided in units of local currency per U.S. dollar.


2022 Third Quarter Results		Page 16


Disclaimer

Except as the context otherwise may require, references in this report to “CEMEX,” “we,” “us” or “our” refer to CEMEX, S.A.B. de C.V. and its consolidated entities. The information contained in this report contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements and information are necessarily subject to risks, uncertainties, and assumptions, including but not limited to statements related CEMEX’s plans, objectives, expectations (financial or otherwise), and typically can be identified by the use of words such as “will”, “may,” “assume,” “might,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,” “envision,” “plan,” “believe,” “foresee,” “predict,” “potential,” “target,” “strategy,” “intend,” “aimed”, and similar terms. Although CEMEX believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially from historical results or results anticipated by forward-looking statements due to various factors. These forward-looking statements reflect, as of the date on which such forward-looking statements are made, our current expectations and projections about future events based on our knowledge of present facts and circumstances and assumptions about future events, unless otherwise indicated. These statements necessarily involve risks, uncertainties and assumptions that could cause actual results to differ materially from historical results or those anticipated in this report. Among others, such risks, uncertainties, and assumptions include those discussed in CEMEX’s most recent annual report and those detailed from time to time in CEMEX’s other filings with the Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, including, but not limited to: impact of pandemics, epidemics or outbreaks of infectious diseases and the response of governments and other third parties, including with respect to the novel strain of the coronavirus identified in China in late 2019 and its variants (“COVID-19”), which have affected and may continue to adversely affect, among other matters, the ability of our operating facilities to operate at full or any capacity, supply chains, international operations, availability of liquidity, investor confidence and consumer spending, as well as the availability of, and demand for, our products and services; the cyclical activity of the construction sector; our exposure to other sectors that impact our and our clients’ businesses, such as, but not limited to, the energy sector; availability of raw materials and related fluctuating prices; volatility in pension plan asset values and liabilities, which may require cash contributions to the pension plans; the impact of environmental cleanup costs and other liabilities relating to existing and/or divested businesses; our ability to secure and permit aggregates reserves in strategically located areas; the timing and amount of federal, state and local funding for infrastructure; changes in the level of spending for private residential and private nonresidential construction; changes in our effective tax rate; competition in the markets in which we offer our products and services; general political, social, health, economic and business conditions in the markets in which we operate or that affect our operations and any significant economic, health, political or social developments in those markets, as well as any inherent risks to international operations; the regulatory environment, including environmental, energy, tax, labor, antitrust, and acquisition-related rules and regulations; our ability to satisfy our obligations under our material debt agreements, the indentures that govern our outstanding notes, and other debt instruments and financial obligations, including our subordinated notes with no fixed maturity and other financial obligations; the availability of short-term credit lines or working capital facilities, which can assist us in connection with market cycles; the impact of our below investment grade debt rating on our cost of capital and on the cost of the products and services we purchase; loss of reputation of our brands; our ability to consummate asset sales, fully integrate newly acquired businesses, achieve cost-savings from our cost-reduction initiatives, implement our pricing initiatives for our products and generally meet our “Operation Resilience” strategy’s goals; the increasing reliance on information technology infrastructure for our sales, invoicing, procurement, financial statements and other processes that can adversely affect our sales and operations in the event that the infrastructure does not work as intended, experiences technical difficulties or is subjected to cyber-attacks; changes in the economy that affect the demand for consumer goods, consequently affecting demand for our products and services; weather conditions, including but not limited to, excessive rain and snow, and disasters such as earthquakes and floods; trade barriers, including tariffs or import taxes and changes in existing trade policies or changes to, or withdrawals from, free trade agreements, including the United States-Mexico-Canada Agreement (“USMCA”), which was signed on November 30, 2019 and entered into force on July 1, 2020, superseding the North American Free Trade Agreement (“NAFTA”); availability and cost of trucks, railcars, barges and ships, as well as their licensed operators, for transport of our materials; labor shortages and constraints; terrorist and organized criminal activities as well as geopolitical events, such as war and armed conflicts, including the current war between Russia and Ukraine; declarations of insolvency or bankruptcy, or becoming subject to similar proceedings; and, natural disasters and other unforeseen events (including global health hazards such as COVID-19). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from historical results, performance or achievements and/or results, performance or achievements expressly or implicitly anticipated by the forward-looking statements, or otherwise could have an impact on us or our consolidated entities. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate and the factors identified above are not exhaustive. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct the information contained in this report or any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Readers should review future reports filed by us with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores). This report also includes statistical data regarding the production, distribution, marketing and sale of cement, ready mix concrete, clinker, aggregates, and Urbanization Solutions. Unless the context indicates otherwise, all references to pricing initiatives, price increases or decreases, refer to CEMEX’s prices for CEMEX’s products. We generated some of this data internally, and some was obtained from independent industry publications and reports that we believe to be reliable sources. We have not independently verified this data nor sought the consent of any organizations to refer to their reports in this report.

UNLESS OTHERWISE NOTED, ALL FIGURES ARE PRESENTED IN DOLLARS,

BASED ON INTERNATIONAL FINANCIAL REPORTING STANDARDS, AS APPLICABLE


2022 Third Quarter Results		Page 17

Presentation re 3rd Qtr 2022 results for CEMEX

Exhibit 3 Third Quarter 2022 Results 6th Street Viaduct, Los Angeles, United States Built with Vertua Concrete, part of our Vertua family of sustainable products

Except as the context otherwise may require, references in this presentation to “CEMEX,” “we,” “us” or “our” refer to CEMEX, S.A.B. de C.V. and its consolidated entities. The information contained in this presentation contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements and information are necessarily subject to risks, uncertainties, and assumptions, including but not limited to statements related CEMEX’s plans, objectives, expectations (financial or otherwise), and typically can be identified by the use of words such as “will”, “may,” “assume,” “might,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,” “envision,” “plan,” “believe,” “foresee,” “predict,” “potential,” “target,” “strategy,” “intend,” “aimed” and similar terms. Although CEMEX believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially from historical results or results anticipated by forward-looking statements due to various factors. These forward-looking statements reflect, as of the date on which such forward-looking statements are made, our current expectations and projections about future events based on our knowledge of present facts and circumstances and assumptions about future events, unless otherwise indicated. These statements necessarily involve risks, uncertainties and assumptions that could cause actual results to differ materially from historical results or those anticipated in this presentation. Among others, such risks, uncertainties, and assumptions include those discussed in CEMEX’s most recent annual report and those detailed from time to time in CEMEX’s other filings with the Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, including, but not limited to: impact of pandemics, epidemics or outbreaks of infectious diseases and the response of governments and other third parties, including with respect to the novel strain of the coronavirus identified in China in late 2019 and its variants (“COVID-19”), which have affected and may continue to adversely affect, among other matters, the ability of our operating facilities to operate at full or any capacity, supply chains, international operations, availability of liquidity, investor confidence and consumer spending, as well as the availability of, and demand for, our products and services; the cyclical activity of the construction sector; our exposure to other sectors that impact our and our clients’ businesses, such as, but not limited to, the energy sector; availability of raw materials and related fluctuating prices; volatility in pension plan asset values and liabilities, which may require cash contributions to the pension plans; the impact of environmental cleanup costs and other liabilities relating to existing and/or divested businesses; our ability to secure and permit aggregates reserves in strategically located areas; the timing and amount of federal, state and local funding for infrastructure; changes in the level of spending for private residential and private nonresidential construction; changes in our effective tax rate; competition in the markets in which we offer our products and services; general political, social, health, economic and business conditions in the markets in which we operate or that affect our operations and any significant economic, health, political or social developments in those markets, as well as any inherent risks to international operations; the regulatory environment, including environmental, energy, tax, labor, antitrust, and acquisition-related rules and regulations; our ability to satisfy our obligations under our material debt agreements, the indentures that govern our outstanding notes, and other debt instruments and financial obligations, including our subordinated notes with no fixed maturity and other financial obligations; the availability of short-term credit lines or working capital facilities, which can assist us in connection with market cycles; the impact of our below investment grade debt rating on our cost of capital and on the cost of the products and services we purchase; loss of reputation of our brands; our ability to consummate asset sales, fully integrate newly acquired businesses, achieve cost-savings from our cost-reduction initiatives, implement our pricing initiatives for our products and generally meet our “Operation Resilience” strategy’s goals; the increasing reliance on information technology infrastructure for our sales, invoicing, procurement, financial statements and other processes that can adversely affect our sales and operations in the event that the infrastructure does not work as intended, experiences technical difficulties or is subjected to cyber-attacks; changes in the economy that affect demand for consumer goods, consequently affecting the demand for our products and services; weather conditions, including but not limited to, excessive rain and snow, and disasters such as earthquakes and floods; trade barriers, including tariffs or import taxes and changes in existing trade policies or changes to, or withdrawals from, free trade agreements, including the United States-Mexico-Canada Agreement (“USMCA”), which was signed on November 30, 2019 and entered into force on July 1, 2020, superseding the North American Free Trade Agreement (“NAFTA”); availability and cost of trucks, railcars, barges and ships, as well as their licensed operators, for transport of our materials; labor shortages and constraints; terrorist and organized criminal activities as well as geopolitical events, such as war and armed conflicts, including the current war between Russia and Ukraine; declarations of insolvency or bankruptcy, or becoming subject to similar proceedings; and, natural disasters and other unforeseen events (including global health hazards such as COVID-19). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from historical results, performance or achievements and/or results, performance or achievements expressly or implicitly anticipated by the forward-looking statements, or otherwise could have an impact on us or our consolidated entities. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate and the factors identified above are not exhaustive. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct the information contained in this presentation or any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Readers should review future reports filed by us with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores). This presentation also includes statistical data regarding the production, distribution, marketing and sale of cement, ready mix concrete, clinker, aggregates, and Urbanization Solutions. Unless the context indicates otherwise, all references to pricing initiatives, price increases or decreases, refer to CEMEX’s prices for CEMEX’s products. We generated some of this data internally, and some was obtained from independent industry publications and reports that we believe to be reliable sources. We have not independently verified this data nor sought the consent of any organizations to refer to their reports in this presentation. UNLESS OTHERWISE NOTED, ALL FIGURES ARE PRESENTED IN DOLLARS, BASED ON INTERNATIONAL FINANCIAL REPORTING STANDARDS, AS APPLICABLE Copyright CEMEX, S.A.B. de C.V. and its subsidiaries

• Double-digit growth in Sales Key highlights in • 15% to 20% price growth for cement, ready-mix and aggregates Third Quarter 2022 • YTD prices increasingly covering cost inflation in dollar terms • EBITDA and margin impacted by relentless input cost inflation, particularly in energy • US and EMEA regions with important EBITDA growth • Urbanization Solutions Sales and EBITDA growing double-digit • Aligning decarbonization goals with most ambitious 1.5ºC scenario • ~4% reduction in CO emissions vs 2021 2 • MSCI ESG score upgraded to “A” • Almost $600 M of divestments YTD • QoQ reduction of ~$540 M in total debt, with leverage at 2.82x 1 • Net income higher by ~$450 M vs 3Q21 2 • ROCE at 12.7% , well above our cost of capital Reforma Tower, Mexico City, Mexico 1) On a like to like basis excluding goodwill impairment charges 2) Trailing twelve months as of September 2022, excluding goodwill 3 Built with Fortis, part of our Vertua family of sustainable products

Sales growth driven by pricing EBITDA FCF after Net Sales EBITDA Margin maint. Capex +13% l-t-l -6% l-t-l -3.2pp +7% -10% 3,956 723 19.6% 368 16.4% 3,693 649 182 Sales growth in all regions 3Q21 3Q22 3Q21 3Q22 3Q21 3Q22 3Q21 3Q22 with EBITDA growth in the US and EMEA Casa Piedra, Acapulco, Mexico Millions of U.S. dollars Built with Duramax, part of our Vertua family of sustainable products 4

Cement volumes impacted by bagged/bulk rebalancing in emerging markets 3Q22 YoY volume variation CONSOLIDATED VOLUMES (l-t-l) 1% 2% 2% 1% 3% EMEA -1% 2% EUROPE -2% USA -3% 0% 9% -7% -5% 1% MEX -7% 1 Cement 8% Ready-mix 3% Aggregates SCAC -12% 1) Gray domestic cement 5

Double-digit growth in pricing CONSOLIDATED PRICES 3Q22 YoY and QoQ price variation (l-t-l) 20% 26% 19% 19% 16% 30% 15% 16% 16% 12% 18% EMEA 13% USA EUROPE 4% 2% 2% QoQ: 6% 8% 1% 21% 5% 2% 2% 17% 16% 3% 4% 1% MEX Sequential (2Q22 to 3Q22) 2% 3% 0% 15% 1 Cement 11% Ready-mix SCAC 4% Aggregates 0% 2% 8% 1) Gray domestic cement 6 Note: For CEMEX, SCAC, Europe and EMEA, prices (l-t-l) are calculated on a volume-weighted average basis at constant foreign-exchange rates

Prices more than covering costs 3Q22 EBITDA variation -6% -10% -550 581 723 -40 -35 679 -30 649 3Q21 Volume Price Variable/Fixed Other businesses 3Q22 l-t-l FX 3Q22 reported costs, freight, and & items operating expenses EBITDA -3.2pp 19.6% 16.4% margin Millions of U.S. dollars 7

YTD pricing is covering inflation in dollar terms Unitary Prices Unitary Costs 1 Cement Aggregates Ready-mix $18 $2.0 $12 $11.9 $1.8 $11.5 $16 $14.9 $16.0 $9.6 $10 $14.4 $1.6 $14 $1.5 $1.5 $9.3 $1.4 $13.5 $12 $8 $6.7 $1.2 $10 $8.4 $1.0 $6 $6.4 $8 $8.2 $6 $4 $0.7 $0.5 $4 $2 $2 $0 $0.0 $0 4Q21 1Q22 2Q22 3Q22 4Q21 1Q22 2Q22 3Q22 4Q21 1Q22 2Q22 3Q22 1) Own produced cement 8

CEMEX to align decarbonization goals with most ambitious 1.5°c scenario • Helped develop the 1.5° framework as a member of SBTi’s Expert Advisory Group • Committed to having the most ambitious decarbonization pathway in the building materials industry • The significant reduction in CO emissions we have achieved 2 since we launched Future in Action in 2021, gives us the confidence to commit to a more accelerated pathway CO emissions down >4% YTD 2 • Goals submitted for review by the SBTi MSCI ESG score upgraded to “A” • 2050 net-zero CO roadmap 2 • New 2030 targets for scope 1,2 and 3 emissions 9

Important progress on our Operation Resilience portfolio rebalancing ~$330 M Costa Rica & El Salvador Close to $600 M in 65% of Neoris, our digital ~$120 M accelerator, to Advent divestments YTD ~$140 M Fixed asset sales 10

Regional Highlights Zoncuantla Apartments, Coatepec, Mexico Built with Hidratium, part of our Vertua family of sustainable products

Mexico: Pricing driving top line growth YTD 3Q22 3Q22 Net Sales 948 2,826 % var (l-t-l) 9% 7% Operating EBITDA 255 862 % var (l-t-l) (12%) (7%) Operating EBITDA margin 26.9% 30.5% pp var (6.4pp) (4.6pp) • Growth in formal sector explained by Industrial and Commercial sector, reflecting significant activity in nearshoring and hotel construction • Bagged cement volumes impacted by normalization of demand, temporary market share loss and inflation impacting consumption • Pricing strategy contributing significantly to top line growth • EBITDA and EBITDA margin impacted by higher fuel cost, volume decline and product mix • One-off impact related to timing of maintenance, weather and supply chain disruptions responsible for more than ~2pp of margin decline Foro Boca, Veracruz, Mexico • Announced October price increase for bagged cement Built with Duramax, part of our Vertua family of sustainable products 12 Millions of U.S. dollars

US: Strong pricing momentum, with sequential EBITDA margin improvement YTD 3Q22 3Q22 Net Sales 1,324 3,817 % var (l-t-l) 19% 17% Operating EBITDA 197 560 PENDING % var (l-t-l) 10% (5%) Operating EBITDA margin 14.9% 14.7% pp var (1.2pp) (3.3pp) • Sales and EBITDA growing double-digit • Despite impact from hurricane Ian in Florida, cement and aggregate volumes increased • Healthy underlying demand driven by Industrial and Commercial, and Residential sectors • Prices for cement, ready-mix and aggregates growing between 16% and 19% YoY • Despite $11 M EBITDA headwind from Hurricane Ian, saw sequential 6th Street Viaduct, Los Angeles, USA Built with Vertua concrete, part of our Vertua family of sustainable products improvement in EBITDA margin of 2.4pp 13 Millions of U.S. dollars

EMEA: Resiliency continued with solid growth in Sales and EBITDA YTD 3Q22 3Q22 Net Sales 1,252 3,731 % var (l-t-l) 16% 14% Operating EBITDA 186 524 % var (l-t-l) 8% 14% Operating EBITDA margin 14.8% 14.0% pp var (1.2pp) (0.1pp) • Top line growth driven by double-digit price increases across all products • Cement volumes declined, reflecting weakness in Europe and the Philippines, partially compensated by increases in Egypt and UAE • Reduced CO emissions by more than 40% in Europe, well 2 positioned to reach the 55% goal for 2030 • Strong operational and financial performance in Egypt and Pelješac Bridge, Pelješac, Croatia Built with Vertua Concrete, part of our Vertua family of sustainable products Israel 14 Millions of U.S. dollars

SCAC: Sales growth mainly due to strong price contribution YTD 3Q22 3Q22 Net Sales 393 1,227 % var (l-t-l) 2% 7% Operating EBITDA 90 298 % var (l-t-l) (11%) (7%) Operating EBITDA margin 22.8% 24.3% pp var (2.8pp) (3.0pp) • Top line performance driven by 15% increase in cement prices • Cement performance reflects bagged cement rebalancing as well as operational and weather issues in the Dominican Republic • Formal sector continues improving as evidenced by ready mix and aggregates performance • EBITDA and EBITDA margin impacted by higher energy costs, lower cement volumes and product mix • Pricing strategy affecting volume performance in Colombia, while Riomaggiore Building, Cali, Colombia Built with Vertua Concrete, part of our Vertua family of sustainable products volumes in the Dominican Republic continued being supported by formal sector 15 Millions of U.S. dollars

Financial Developments Avancer Tower, San Luis, Mexico Built with Fortis, part of our Vertua family of sustainable products

Working capital and increased maintenance driving Free Cash Flow lower Average working capital days January - September Third Quarter 2022 2021 % var 2022 2021 % var 3Q22 3Q21 Operating EBITDA 2,050 2,195 (7%) 649 723 (10%) - Net Financial Expense 396 450 138 136 -3 - Maintenance Capex 587 374 201 168 - Change in Working Capital 821 390 162 8 -14 - Taxes Paid 156 154 42 30 Controlling Interest Net Income - Other Cash Items (net) (68) 64 (64) 24 US$ M - Free Cash Flow (4) (7) (12) (11) 494 Discontinued Operations Free Cash Flow after 162 769 (79%) 182 368 (50%) Maintenance Capex - Strategic Capex 284 275 111 114 Free Cash Flow (122) 494 N/A 72 254 (72%) -376 3Q22 3Q21 17 Millions of U.S. dollars

Further strengthening our capital structure in a volatile environment 1 • Reduced total debt during the quarter by $540 M. Proforma debt maturity th profile as of September 30 Bought back $654 M of bonds at a discount, Billions of U.S. dollars reducing debt by $91 M 1.5 • Closed a €500 M sustainability-linked loan in 1.5 1.3 October, with similar conditions to our Credit 1.1 Agreement 0.8 0.8 0.5 0.3 0.3 • Protected against rising interest rates, with 74% 0.1 of our debt at fixed rates 22 23 24 25 26 27 28 29 30 ≥31 No refinancing needs until 2025 • Risk management strategies offsetting weaker currencies, rising interest rates and energy costs 1) Giving effect to new €500 M bank loan used to repay the committed Revolving credit facility in October 2022 18

2022 Outlook The Reflection Space, Monterrey, Mexico Built with Evolution, part of our Vertua family of sustainable products

1 2022 guidance 2 Operating EBITDA ~$2,700 million Low single digit decrease for Cement Consolidated volume growth Low to mid single digit increase for Ready-mix Low to mid single digit increase for Aggregates Energy cost/ton of cement ~40% increase produced ~$1,350 million total Capital expenditures ~$850 M Maintenance, ~$500 M Strategic Investment in working capital ~$250 million Cash taxes ~$200 million 3 Cost of debt Reduction of ~$20 million 1) Reflects CEMEX’s current expectations 2) Like-to-like for ongoing operations and foreign exchange rates for the remaining of the year as of September 30, 2022 20 3) Including perpetual bonds and subordinated notes with no fixed maturity and the effect of our EUR-USD cross-currency swap

Appendix Casa Piedra, Acapulco, Mexico Built with Duramax, part of our Vertua family of sustainable products

Debt maturity profile as of September 30, 2022 Total debt as of September 30, 2022: $8,188 million 2021 Credit Agreement Other bank debt Average life of debt: Fixed Income 5.1 years Leases 2,002 1,273 1,125 981 825 788 491 335 291 78 2022 2023 2024 2025 2026 2027 2028 2029 2030 >2031 22 Millions of U.S. dollars

Consolidated volumes and prices 9M22 vs. 9M21 3Q22 vs. 3Q21 3Q22 vs. 2Q22 Volume (l-t-l) (3%) (5%) (3%) Domestic gray Price (USD) 12% 14% 1% cement Price (l-t-l) 16% 20% 3% Volume (l-t-l) 4% 2% (2%) Ready mix Price (USD) 8% 10% 2% Price (l-t-l) 12% 16% 4% Volume (l-t-l) 3% 2% 2% Aggregates Price (USD) 7% 8% (1%) Price (l-t-l) 12% 15% 1% 23 Price (l-t-l) calculated on a volume-weighted average basis at constant foreign-exchange rates

Additional information on debt MXN 4% Other 4% Euro Third Quarter Second Quarter 15% 2022 2021 % var 2022 Currency 1 8,188 8,982 (9%) 8,729 Total debt 3 denomination Short-term 5% 4% 5% U.S. Long-term 95% 96% 95% dollar 77% Cash and cash equivalents 397 869 (54%) 490 Net debt 7,791 8,113 (4%) 8,239 2 7,669 8,092 (5%) 8,123 Consolidated net debt 2 Variable 2.82 2.80 2.88 Consolidated leverage ratio 26% 2 4 6.51 5.31 6.74 Consolidated coverage ratio Interest rate Fixed 74% Millions of U.S. dollars 1) Includes leases, in accordance with International Financial Reporting Standard (IFRS) 2) Calculated in accordance with our contractual obligations under the 2021 Credit Agreement 3) Includes the effect of our EURUSD cross-currency swap 24 4) Includes the effect of our interest rate derivatives

Additional information on debt 1 Total debt by instrument Third Quarter Second Quarter 19% 2022 2022 % of total % of total Fixed Income 4,103 50% 4,781 55% 2021 Credit Agreement 2,522 31% 2,471 28% 50% 1 1,562 19% 1,477 17% Others Total Debt 8,188 8,729 31% Millions of U.S. dollars 25 1) Includes leases, in accordance with IFRS

3Q22 volume and price summary: selected countries and regions Domestic gray cement Ready mix Aggregates 3Q22 vs. 3Q21 3Q22 vs. 3Q21 3Q22 vs. 3Q21 Volume Price (USD) Price (LC) Volume Price (USD) Price (LC) Volume Price (USD) Price (LC) Mexico (7%) 17% 17% 9% 16% 16% 1% 21% 21% U.S. 2% 19% 19% (0%) 19% 19% 3% 16% 16% Europe (2%) 10% 30% (7%) 1% 18% 1% (4%) 13% Israel N/A N/A N/A 11% 6% 12% 4% 2% 8% Philippines (16%) (1%) 12% N/A N/A N/A N/A N/A N/A Colombia (5%) (3%) 12% 10% (9%) 5% 14% (4%) 11% Panama 10% (2%) (2%) 66% 8% 8% 17% 11% 11% Dominican Republic (16%) 30% 23% (8%) 19% 12% N/A N/A N/A 26 Price (LC) for Europe calculated on a volume-weighted-average basis at constant foreign-exchange rates

9M22 volume and price summary: selected countries and regions Domestic gray cement Ready mix Aggregates 9M22 vs. 9M21 9M22 vs. 9M21 9M22 vs. 9M21 Volume Price (USD) Price (LC) Volume Price (USD) Price (LC) Volume Price (USD) Price (LC) Mexico (9%) 16% 15% 11% 15% 14% 3% 20% 19% U.S. 3% 15% 15% 3% 13% 13% 5% 14% 14% Europe 3% 9% 24% (1%) 0% 13% 0% (3%) 9% Israel N/A N/A N/A 6% 7% 10% 7% 5% 8% Philippines (11%) (0%) 9% N/A N/A N/A N/A N/A N/A Colombia (2%) (2%) 7% 18% (6%) 3% 21% (5%) 4% Panama 7% (4%) (4%) 34% 1% 1% 17% 15% 15% Dominican Republic (8%) 22% 17% 14% 15% 11% N/A N/A N/A 27 Price (LC) for Europe calculated on a volume-weighted-average basis at constant foreign-exchange rates

1 2022 expected volume outlook : selected countries/regions Cement Ready-mix Aggregates CEMEX Low single digit decline Low to mid single digit increase Low to mid single digit increase Mexico High single digit decline High single digit increase Low to mid single digit increase USA Low single digit increase Low single digit increase Low single digit increase Europe Flat Low single digit decline Flat Colombia Flat Mid teens increase N/A Panama Low to mid single digit increase ≥25% increase N/A Dominican Republic Low single digit decline Low teens increase N/A Israel N/A Flat to low single digit increase Low single digit increase Philippines Mid single digit decline N/A N/A 28 1) Reflects CEMEX’s current expectations. Volumes on a like-to-like basis

Relevant ESG indicators Carbon strategy 9M22 9M21 2021 Customers and suppliers 3Q22 3Q21 2021 Kg of CO per ton of 2 Net Promoter Score (NPS) 66 70 70 568 594 591 cementitious % of sales using CX Go 56% 63% 62% Alternative fuels (%) 34% 29% 29% Clinker factor 74.5% 76.0% 75.8% Low-carbon products 9M22 9M21 2021 Health and safety 9M22 9M21 2021 Blended cement as % of total Employee fatalities 1 0 1 76% 69% 68% cement produced Employee L-T-I frequency rate 0.5 0.4 0.5 Vertua concrete as % of total 37% 19% 20% Operations with zero fatalities 97% 97% 95% and injuries (%) 29

Definitions SCAC South, Central America and the Caribbean EMEA Europe, Middle East, Africa and Asia When providing cement volume variations, refers to domestic gray cement operations (starting in 2Q10, the base for reported Cement cement volumes changed from total domestic cement including clinker to domestic gray cement) LC Local currency l-t-l (like to like) On a like-to-like basis adjusting for currency fluctuations and for investments/divestments when applicable Investments incurred for the purpose of ensuring the company’s operational continuity. These include capital expenditures on Maintenance capital projects required to replace obsolete assets or maintain current operational levels, and mandatory capital expenditures, which are expenditures projects required to comply with governmental regulations or company policies Operating EBITDA Operating earnings before other expenses, net plus depreciation and operating amortization IFRS International Financial Reporting Standards, as issued by the International Accounting Standards Board Pp Percentage points Prices All references to pricing initiatives, price increases or decreases, refer to our prices for our products Investments incurred with the purpose of increasing the company’s profitability. These include capital expenditures on projects Strategic capital expenditures designed to increase profitability by expanding capacity, and margin improvement capital expenditures, which are projects designed to increase profitability by reducing costs TCL Operations Trinidad Cement Limited includes Barbados, Guyana, Jamaica and Trinidad and Tobago USD U.S. dollars % var Percentage variation 30

Contact Information Investors Stock Information Relations NYSE (ADS): CX In the United States +1 877 7CX NYSE Mexican Stock Exchange: CEMEXCPO In Mexico +52 81 8888 4292 Ratio of CEMEXCPO to CX: ir@cemex.com 10 to 1