! Presentation of November 9, 2011 Markus Akermann, CEO Thomas Aebischer, CFO The spoken word prevails. " Better results in third quarter and organic growth Higher sales volumes in cement, aggregates and ready-mix concrete over nine months and in the third quarter Latin America and Asia Pacific on growth path Europe and North America lack key stimuli Strong Swiss franc impacts operating EBITDA by CHF 458 million Declining operating EBITDA due to cost increases which could not yet be passed on completely to sales prices Like-for-like operating EBITDA is expected to be close to last year's level ! #$ 1) Holcim achieved better results in this year’s third quarter compared wi th the January-September 2011 reporting period, with four of the five Group regions achieving organic gr owth. Both third quarter and nine months sales volumes for cement, aggregates and ready-mix concrete increased. Only asphalt declined slightly. Many emerging markets enjoyed brisk construction activity. How ever, in the eurozone and in North America, growth mainly remained restrained. The strong Swiss franc im pacted operating EBITDA by 458 Million Swiss francs. Also, still outstanding sales of CO2 emissions certif icates in Europe compared with the previous year had a negative influence. Costs which could be influenced were nevertheless kept well under control. As per end of September, there was a decline in operating EBIT DA due to above-average inflation for energy, transport and raw materials. These cost increases could, for t he time being, only partially be passed on to sales prices, due to strong competitive pressures in many markets. On a like-for-like basis, operating EBITDA was higher than last year in Latin America and Asia P acific. Europe fared less well, mainly because of still outstanding sales of CO2 certificates. In the US, the ong oing insufficient demand for construction materials and the stabilization of prices at a low level both i mpacted results. Higher sales of cement and aggregates in Europe " % """& % '( ) ' '* " ' +, -', ! , % . . ' /', 01& % '() " ' 2 ' 3 2' 4" .5/67 2' " % 84 9 4" " 2 ©2011Holcim Ltd/Switzerland ResultsQ3 2011 2) In Group region Europe, demand increased. However, there was still a lack of concrete intensive pr ojects. More construction work was ongoing in France, Germany, Switzerland and Russia, primarily in the Gr eater Moscow area. In Group region Europe, Holcim sold more cement and aggregates in the first nine mo nths of 2011, despite the difficult market situation in Spain. Ready-mix concrete deliveries nearly matched the previous year's level. Aggregate Industries UK experienced a decrease in asphalt volumes. The mark et situation remained difficult in Italy and Spain. In Italy there were deconsolidations in the aggregates a nd ready-mix concrete business, while in Spain our Group company decided to close 25 ready-mix concrete plants. In Eastern and Southeastern Europe a few infrastructure projects made a positive impact on d emand. Most Group companies increased their shipments of cement. About a week ago we have increased o ur minority stake in a company in Eastern Slovakia, which owns a cement plant and several aggregates and ready-mix concrete operations, into a majority. This complements our network in this region. Operating EBITDA for Group region Europe decreased. The results were depressed by the weak euro and the s till outstanding sales of CO2 emissions certificates. Many Group companies were only partially able to of fset the rise in energy, distribution and raw material costs with price increases. 2 "': ::::2: ::::2": ::::: ::::: ::::: ::::: ::::7 Higher sales volumes in all segments thanks to US road- building Full takeover of Lattimore Materials in Texas strengthened sales of aggregates and ready-mix concrete Holcim Canada felt the decline in construction activity in all relevant markets Operating EBITDA impacted by increased production costs amid relatively stable prices and expenses incurred by temporary closure of the Catskill plant ! $ #$ 3) There is still a lack of important stimuli in the US construction sector. However, public road-building did create some activity, primarily in the third quarter. Canada's economy developed weakly in those mar kets relevant to us. In August, cement sales by Holcim US exceeded one million tonnes for the first time si nce October 2008. Demand remained generally weak in the southern US states. Aggregate Industries US significantly increased its deliveries of aggregates, ready-mix concrete and asphalt. The full takeover of Lattimore Materials in March of this year strengthened the Group company's market presence in Texa s. On balance, Holcim Canada sold less cement and ready-mix concrete. Volumes increased in the aggregates segment, but there was less demand for high-grade gravel, and prices came under pressure. Operating EBITDA for Group region North America fell. All three Group companies were below the previous yea r's results. Higher energy and distribution costs had a negative impact on the operating result of Holcim US despite the relatively stable level of prices in local currency. Expenses were also incurred for the temp orary closure of the Catskill plant. Due to increased production costs Aggregate Industries US recorded low er results. At Holcim Canada, rising price pressure, particularly in the ready-mix concrete business, and higher cement manufacturing costs had a negative impact on financial results. Solid markets in Latin America 5" ' ' % ;, ' 5!, 7", 8 82 7 - """& '() "9' 4" .5/67 2' " "' 2 % ' 2 %' ;, " % 4" " , ' 4 ©2011Holcim Ltd/Switzerland ResultsQ3 2011 4) In Latin America, the economy made positive headway in most countries. Numerous infrastructure projects supported demand for building materials. All Group companies sold more cement and nearly all also increased their sales of aggregates and ready-mix concrete. The Mexican construction sector recovered slightly due to the national infrastructure plan and private house-building activity. Holcim Apasco sold more building materials in all segments. The expansion of grinding capacity at the Nobsa plant allowed Hol cim Colombia to sell more cement. Holcim Ecuador also increased deliveries of construction materials du e to brisk road-building and infrastructure activity. Indeed demand was such that clinker had to be bought in occasionally. Due to the high capacity utilization rate, Holcim Brazil concentrated on sales of higher v alue cement types; deliveries of aggregates and ready-mix concrete remained stable. Argentina's construction sector benefited from public sector investment ahead of the presidential elections. In a difficult compe titive environment, Cemento Polpaico in Chile experienced good volume growth in all segments. As a resul t of rising energy costs, higher distribution costs and the fact that prices could not yet be adjusted everyw here, operating EBITDA declined despite the volume growth. The strong Swiss franc impacted above all on the results of the Group companies in Mexico, Ecuador and Argentina. The Group region nevertheless gr ew organically – on a nine-month basis and in the third quarter. 3 0" 2 7% < . Solid construction activity in Morocco, Lebanon and some parts of the Indian Ocean region New competitors depressed cement and aggregate sales at Holcim Morocco Despite project delays at construction sites in Beirut, Holcim Lebanon sold more cement and ready-mix concrete Positive volume development in the Indian Ocean region Operating EBITDA declined primarily due to the currency impact, but was clearly positive in the third quarter = ! #$ 5) In Morocco and Lebanon, the two most important markets for Holcim in this Group region, construc tion activity remained brisk. Construction activity was also fairly buoyant in the Indian Ocean region. Due t o new competitors, Holcim Morocco sold less cement and aggregates. However, a clear increase was achie ved in sales of ready-mix concrete. Despite some project delays at construction sites in Beirut, Holcim Lebanon sold slightly more cement and ready-mix concrete. The companies in the Indian Ocean sold more cement and ready-mix concrete. The Group companies in Mauritius, La Réunion and Madagascar witnessed positive volume development. The operating EBITDA of Group region Africa Middle East declined primarily du e to the currency impact. However, organic growth was achieved in the third quarter. Continuing volume growth in Asia Pacific 7 % " / 4, % ( ; " % / /, % """ 7 " 2 , >, ", / 7 /? 2 % 4(3 % % 1 7 4" .5/67 " %& " " % - " 6 ©2011Holcim Ltd/Switzerland ResultsQ3 2011 6) The Asian markets remained on their path. Public spending on infrastructure was important, but pri vate residential and commercial construction activity also developed very positively. In Oceania, constructi on activity failed to gain real momentum. Due to additional capacity, ACC in India achieved a significant increase in cement volumes. Ambuja Cements also increased its deliveries. Siam City Cement in Thai land saw a rise in sales in all segments in the growing domestic market, while in Indonesia the construction sector remained on track for dynamic growth due to government infrastructure projects and expansion work i n the industrial sector. Across its whole product range, Holcim Indonesia sold significantly more building ma terials. The Philippine construction sector felt the lack of public sector investment activity. The situation nevert heless improved slightly from August onward. Construction activity in Oceania remained subdued. In Australi a, there was a lack of cement and concrete intensive projects. Road-building in the aftermath of the floods impacted positively on cement demand only from the third quarter. On balance, Cement Australia ther efore sold less cement. Holcim Australia delivered more aggregates on both the east and west coasts. Ope rating EBITDA in Group region Asia Pacific decreased. Stronger results were achieved above all by the Gro up companies in Thailand, Vietnam, Malaysia, Singapore and Indonesia. Like-for-like, ACC exceeded its previous year result. However, it proved impossible to pass on the full impact of inflation to prices. Ce ment Australia incurred one-off costs for the closure of the Kandos plant. The strong Swiss franc depressed the results of all Group companies, and reduced operating EBITDA. Like-for-like, ACC – the biggest Group company – exceeded its previous year result. The Group region also grew in organic terms. 4 + "' @' Fund for promotion of innovative approaches to improving energy efficiency set up in 2010 A component of the Group's comprehensive energy strategy Roughly CHF 100 million at its disposal on annual basis Emphasis for approved projects: ' % ' 7 % % % A % ' Fund financed by receipts from sale of surplus CO 2 emissions certificates ! B #$ 7) Concrete is a highly energy- and CO2-efficient building material. Globally, it is the second most consumed commodity by volume after water, and vital to a functioning infrastructure. Production of the intermedi ate product cement is, however, energy-intensive – with thermal and electrical energy accounting for approximately 40 percent of the cost of production. In US dollar terms, energy costs have risen by aro und 8 percent per year over the last five years. In addition, CO2 emissions occcur – 60 percent of which are caused by the chemical conversion of stone in the rotary kiln and 40 percent by the use of fossil fuels. Because the European cement industry currently emits less CO2 than it is entitled to, large sums of money are raised each year from the sale of excess emissions certificates. The reasons are well-known: sluggish European growth, but also the industry's ongoing endeavors to boost the energy efficiency of its plant s and reduce the clinker factor in cement. Holcim is known for its leading role in these areas in particular. H olcim could simply record the proceeds – normally some 100 million Swiss francs every year – as income. However, we decided to allocate these sums to an Energy Fund that we launched in 2010. The Fund should help ensure the realization of innovative projects across the Group in the field of heat recovery, the uti lization of alternative fuels and raw materials, as well as wind power and hydroelectricity. The objective is clea r: to save fossil fuel sources and boost energy efficiency, resulting in an improvement in our environmental footprint and a reduction in production costs; this is particularly important against the backdrop of risin g global energy costs. The Energy Fund is an element in the Group's comprehensive strategy for count ering these cost pressures. Holcim has produced a list of criteria for the assessment of projects to be financ ed. The emphasis is on economic efficiency – as investments need to be amortized within around one- third of their lifetime – but also on the potential to reduce CO2 and the possibility of multiplying innovations s peedily and successfully across the Group. The creation of the Fund led to competition between the Group companies to produce the best project proposals, and sparked a whole series of new approaches for sustainable energy projects. Reduction of 200,000 tonnes in annual 84 emissions Lägerdorf(Germany) Mississauga(Cana da) Waste heatrecove ry 84 reduction: 4,800tonnesp.a. Técoman(Mexico) Waste heatrecove ry 84 reduction: 10,800tonnesp.a. Untervaz (Switzerland) Waste heatrecovery 84 reduction: 400tonnesp.a. Héming(France) Alternativefuels CO2 reduction: 3,800tonnesp.a. Alternativefuels 84 reduction: 37,800tonnesp.a. Chekka(Lebanon) Waste heatrecovery 84 reduction: 10,200tonnesp.a. Rabriyawas(India) Waste heatrecover y 84 reduction: 25,900tonnesp.a. Rohoznik(Slovakia) Waste heatrecovery 84 reduction: 14,500tonnesp.a. Alesd(Romania) Waste heatrecovery 84 reduction: 11,300tonnesp.a. HonChong(Vietnam) Waste heatrecovery 84 reduction: 25,900tonnesp.a. Gagal(India) Waste heatrecovery 84 reduction: 57,600tonnesp.a. ©2011Holcim Ltd/Switzerland 8 ResultsQ3 2011 8) Last year saw funds earmarked for five heat recovery plants in Vietnam, India, Romania, Lebanon and Switzerland. These installations are under construction and will be commissioned between the end of 2011 and 2013. Six projects were approved this year. They include four waste heat recovery units in Canad a, Slovakia, Mexico and India, as well as two installations for the utilization of alternative fuels and raw materials in Germany and France. These facilities will be commissioned in 2013 and 2014. Once co m pleted, these units will produce a cumulative 36 megawatts o f electricity – equivalent to the electricity needs of a very large cement plant. All in all, Holcim will save around 200,000 tonnes of CO2 annually as a resul t of the projects approved to date. That is approximately as much as one sixth of the annual CO2-emissions of the city of Zurich. 5 .) % * -", / ! 7 % C #$ 9) A waste heat recovery power station is currently under construction at ACC's Gagal plant in the mountainous region of Himachal Pradesh, India. The new facility brings many benefits: energy saving s, and therefore lower production costs, reduced CO2 emissions, as well as a more reliable supply of electric ity with low and stable costs. All this is possible without any negative implications for production. The waste h eat recovery power station will utilize waste heat from the pre-heater tower and clinker cooling system. The steam generated is used to drive a turbine, which is coupled to a generator. Commissioning is likely to take place in the third quarter of 2012. The power station will produce 7 megawatts of electricity on a gross basis Million CHF (ifnototherwisestated) Full Year 9M +/- 2010 2010 2011 LFL CIS FX Total A ' Lägerdorf, Germany - Ready-mix (mm ) 45.9 34.4 36.1 1.9% 3.1% 5.0% or around 44 gigawatt hours on a net basis every year; this represents 12 to 14 percent of the Gagal p lant's annual energy consumption. The investment amounts to nearly USD 17 million. Another innovative pr oject for the more efficient use of alternative fuels and raw materials is being undertaken by Holcim Germa ny at its cement plant in Lägerdorf. The project – being carried out in cooperation with Polysius, a subsidiary of Thyssen Krupp – is at a very advanced stage. The plan is for a multi-stage combustion chamber at the kiln entrance, which – unlike conventional chambers – is able to utilize poorly combustible and bulky alter native fuels. Work on the new plant is scheduled for completion in 2013. Due to the higher proportion of alter native fuels and raw materials in the Lägerdorf facility's energy mix, around 38 000 tonnes of CO2 should be saved annually once it is commissioned. - Cement (mt) 136.7 102.8 108.1 5.2% 0.0% 5.2% - Aggregates (mt) 157.9 118.8 130.4 5.1% 4.7% 9.8% 3 Net sales 21,653 16,568 15,461 5.8% 0.8% -13.3% -6.7% Operating EBITDA 4,513 3,577 2,971 -4.4% 0.2% -12.8% -16.9% Operating profit 2,619 2,178 1,753 -6.4% -0.3% -12.8% -19.5% Net income before minorities 1,621 1 1,223 Net income Holcim shareholders 1,182 1 875 1 1,004 -5.1% -0.2% -12.7% -17.9% 1 713 -6.3% -0.2% -11.9% -18.5% Cash flow 3,659 2,053 930 -47.1% -0.8% -6.8% -54.7% EPS in CHF 3.69 2.73 2.23 -18.3% 1 Includinganon-recurringcash-neutraltaxchargeofUSD171million 6",2"''D7 "'"D ! #$ 10) Sales volume increased in all product segments. Group net sales decreased by 6.7 percent to 15. 5 billion Swiss francs while operating EBITDA declined by 16.9 percent to just below 3 billion Swiss fran cs, reflecting the strong appreciation of the Swiss franc and rising input costs. Net income declined by 18. 5 percent to 713 million Swiss francs as a result of the decrease in operating profit. 6 8 E 2 ' " Million t 20.9 20.1 20.6 Total Group 9M 2009 99.1 9M 2010 102.8 9M 2011 108.1 8. 3 8.4 8.5 49.9 53.2 56.2 17.1 16.8 18.0 6.5 6.8 6.6 ∆ 9M10/9M11 LFL Change in Total ! structure Europe 2.3% 0.0% 2.3% North America 1.2% 0.0% 1.2% Latin America 6.7% 0.0% 6.7% Africa Middle East -4.7% 0.0% -4.7% Asia Pacific 5.7% 0.0% 5.7% Total 5.2% 0.0% 5.2% #$ 11) Consolidated cement volume increased by 5.2 percent to 108.1 million tonnes in the first nine mo nths. Regionally Latin America and Asia Pacific posted the biggest volume increase, followed by Europe a nd North America. Africa Middle East was the only region that experienced declining sales volume. Key drivers to the increase included ACC and Ambuja Cements in India and the Group companies in Indonesia. Additionally, Colombia in the Group Region Latin America as well as France/Belgium, Germany and Russia in the Group Region Europe were strong contributors to the overall volume increase. Aggregates E Sales volumes by region Sales volumes 1' 9 9" < 29 .7 28.8 31.9 59.6 59.5 1.9 1.9 63.6 1.7 - C< C $D C< FDF C< $DG 22.3 19.6 3.1 8.9 9.0 10.9 ∆ 9M10/9M11 LFL Change in structur e Total ©2011Holcim Ltd/Switzerland Europe 1.8% 5.1% 6.9% North America 2.2% 8.8% 11.0% Latin America 21.4% 0.0% 21.4% Africa Middle East -9.0% 0.0% -9.0% Asia Pacific 13.5% 0.0% 13.5% Total 5.1% 4.7% 9.8% 12 ResultsQ3 2011 12) Sales of aggregates increased by 9.8 percent to 130.4 million tonnes, driven by the acquisitions o f Lattimore Materials in the US and the assets in Alsace (France). In addition, solid internal growth in L atin America, Australia and Europe contributed to an overall like-for-like volume increase of 5.1 percent. '() E 2' " Million m 3 /t Total Ready-mix 13.0 12.4 12.2 9M 2009 30.4 4. 1 3.9 4.2 5.1 4.2 4.4 4.2 9M 2010 34.4 9M 2011 36.1 0. 8 0.8 0.8 9.3 9.8 4.9 7.6 7.7 8.2 ∆ 9M10/9M11* LFL Change in Total Total Asphalt 9M 2009 8.1 9M 2010 7.8 9M 2011 7.6 * Ready-mixconcreteonly ! structure Europe -1.6% 0.3% -1.4% North America -3.3% 24.4% 21.0% Latin America 7.1% 0.0% 7.1% Africa Middle East 4.0% 0.0% 4.0% Asia Pacific 4.5% 0.0% 4.5% Total 1.9% 3.1% 5.0% $ #$ 13) Ready-mix volume increased by 5.0 percent to 36.1 million cubic meters, with the first time consolidation of Lattimore Materials in the US contributing to this result. On a like-for-like basis, volumes increased by 1.9 percent. Solid demand in Indonesia, Thailand and most of Latin America strongly supported overall in ternal growth. Asphalt volumes declined by 2.2 percent to 7.6 million tonnes. 7 .)" Statement of income 9M 10 9M 11 +/- 1 EUR 1.51 1.40 1.24 -11.4% 1 GBP 1.71 1.63 1.42 -12.9% 1 USD 1.11 1.06 0.88 -17.0% 1 LATAM Basket (MXN, BRL, ARS, CLP) 1 0.96 1.00 0.87 -13.0% 1 Asian Basket (AUD, IDR, INR, THB, PHP) 1 0.93 1.00 0.89 -11.0% Statement of financial position exchange rates in CHF 30/09/10 30/12/10 30/09/11 +/- 3.4 3.5 average exchange rates in CHF 9M 09 1 EUR 1.33 1.25 1.22 -2.4% 1 GBP 1.55 1.45 1.40 -3.4% 1 USD 0.98 0.94 0.90 -4.3% 1 LATAM Basket (MXN, BRL, ARS, CLP) 2 1.03 1.00 0.87 -13.0% 1 Asian Basket (AUD, IDR, INR, THB, PHP) 2 1.03 1.00 0.91 -9.0% 1 Weightedwithnetsales9M2011 2 Weightedwithnetsalesfullyear2010 ! G #$ Foreign exchange rate impact < 8+ Net sales impact Operating EBITDA impact Sales impact EBITDA impact 86 139 1.8% 2.5% 1.7% 40 2.9% - 1 7 9 - 3. 1 % -32 -2.2% - 228 -4.3% -42 -4.1% -73 -8.0% -181 -14.2% -14.7% -435 -9.2% -916 -854 -14.9% -15.1% Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 15 ©2011Holcim Ltd/Switzerland ResultsQ3 2011 15) The strong appreciation of the Swiss franc during the first half of 2011 continued to negatively imp act the financial results during the quarter under review, albeit to a lesser extent than during the second quart er. Sales were reduced by some 854 million Swiss francs and operating EBITDA recorded a negative imp act of 181 million Swiss francs. During the first nine months of 2011 sales were reduced by some 2.2 billion Swiss francs, or minus 13.3 percent and operating EBITDA recorded a reduction of 458 million Swiss francs, or minus 12.8 percent. Million CHF 15,774 16,568 15,461 Like-for-Like (LFL) -2,000 -10.3% -358 -2.3% 967 5.8% Change in structure -134 -0.7% 1,106 7.0% 130 0.8% Forex movements -1,432 -7.4% 46 0.3% -2,205 -13.3% Total change 3,566 -18.4% 794 5.0% -1,107 -6.7% 9M 2009 9M 2010 9M 2011 H ! #$ 16) Total consolidated net sales amounted to 15.5 billion Swiss francs, a decrease of 6.7 percent. Excl uding 13 -203 [...]... -13.6% Change in structure -92 -3.0% Forex movements -237 -7.7% Total change -750 -24.3% 9M 20 09 - 292 -12.5% 103 4.4% 30 1.3% -1 59 -6.8% 9M 2010 1,753 -1 39 -6.4% -6 -0.3% -280 -12.8% -425 - 19. 5% 9M 2011 21 ©201 1Holcim Ltd/ Switzerland 10 Operating profit by region Million CHF ResultsQ3 2011 9M 20 09 1 9M 2010 9M 2011 535 377 72 95 295 30 1003 99 4 237 608 245 890 201 515 67 ∆ 9M10/9M11 LFL Change in Currency... -5 .9% -21.6% -7 .9% 0.6% -68 .9% 0.0% -14.6% -15.2% 0.0% -13.1% -17 .9% 0.0% -13 .9% -11.3% -0.3% -12.8% - 19. 5% 22 ©201 1Holcim Ltd/ Switzerland ResultsQ3 2011 Net income Million CHF Net income Net income - shareholders of Holcim Ltd 1,577 1, 223 1,004 875 713 1,200 -25.2% -31.0% -22.4% 9M 20 09 -27.1% -17 .9% 9M 2010 -18.5% 9M 2011 23 ©201 1Holcim Ltd/ Switzerland ResultsQ3 2011 23) Below operating EBITDA, the. .. -93 -2.1% -341 -7.8% -751 -17.2% 183 5.1% 21 0.6% -37 -1.0% 9M 20 09 -156 -4.4% 8 0.2% -458 -12.8% -605 -16 .9% 9M 2010 9M 2011 19 ResultsQ3 2011 ©201 1Holcim Ltd/ Switzerland 19) Operating EBITDA decreased by 16 .9 percent to just below 3 billion Swiss francs Excluding the currency impact and change in structure, the operating EBITDA declined by 4.4 percent Higher varia ble and fixed costs more than offset... and news coverage, which could cause actual development and results to differ materially from the statements made in this presentation Holcim assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise 41 ©201 1Holcim Ltd/ Switzerland Strength Performance Passion ResultsQ3 2011 NewShurovoplant(Russia) ©201 1Holcim Ltd/ Switzerland. .. Domestic aggregates prices +/- 9M 10/9M 11 * North America Canada United States Domestic aggregates volumes +/- 9M 10/9M 11 0.3% 7.4% 9. 2% -2.1% 4.7% 17.6% 29. 9% -0.5% 7 .9% 3 .9% 12.8% 34.8% Latin America Mexico Brazil Asia Pacific 1 Australia Indonesia *Ifnototherwisestatedcalculationbasedonlocalcurrencies 1 39 proforma ResultsQ3 2011 ©201 1Holcim Ltd/ Switzerland Contact information and event calendar Contact... 2010 19, 424 12,127 9M 2011 26 ©201 1Holcim Ltd/ Switzerland ResultsQ3 2011 26) Total shareholders‘ equity decreased to 19. 4 billion Swiss francs mainly driven by the negative curr ency impact amounting to around 1.7 billion Swiss francs Net financial debt decreased by 596 million Swiss francs compared to the third quarter of last year driven by cash flow from operating activities and the depreciation of. .. 15.5 % 18 ResultsQ3 2011 ©201 1Holcim Ltd/ Switzerland 18) Compared to the first nine months of 2010, the share of group net sales increased in Asia Pacific to 37.2 percent and in Latin America to 15.5 percent, while Europe, North America, and Africa Middle East experienced a decline of their share of group net sales at the same time While the change of shares i s clearly impacted by the previously mentioned... ResultsQ3 2011 ©201 1Holcim Ltd/ Switzerland Asia Pacific – regional overview 9 months 2010 2011 53.2 56.2 3.6 3.5 49. 6 52.7 5.7% -2.3% 6.3% 0.0% 0.0% 0.0% 5.7% -2.3% 6.3% Aggregates volumes (mt) - of which mature markets - of which emerging markets 19. 6 17.4 2.2 22.3 19. 4 2 .9 13.5% 11.5% 29. 6% 0.0% 0.0% 0.0% 13.5% 11.5% 29. 6% Ready-mix volumes (mm3) - of which mature markets - of which emerging markets 9. 3... -7.4% -1 .9% -2.8% -3 .9% 31.0% 1 .9% 3.2% 6.4% -7.3% -24.0% -9. 1% 2.7% -3.7% 6.7% 5.3% -3.0% 22.8% -2.4% - 19. 9% *Ifnototherwiseindicatedcalculationbasedonlocalcurrencies(regionEuropebasedonEUR) 1 34 Locallynotpublishedyet ResultsQ3 2011 ©201 1Holcim Ltd/ Switzerland 14 Cement – Price/volume variances per region Domestic cement price Domestic clinker and cement volumes s +/- 9M 10/9M 11 +/- 9M 10/9M 11 *.. .the negative impact from currency movements and changes in scope of consolidation, like-for-like net sales increased by 5.8 percent This reflects the improvement in volume across all segments and prices in many markets 8 Net sales by region 9M 20 09 9M 2010 Million CHF 5664 9M 2011 4 691 51 36 26 24 49 26 6020 2151 592 9 4538 91 8 49 7 706 ∆ 9M10/9M11 25 2587 2467 27 LFL Change in Currency structure 1 .9% . -16 .9% 9M 20 09 9M 2010 9M 2011 19 ©201 1Holcim Ltd/ Switzerland ResultsQ3 2011 19) Operating EBITDA decreased by 16 .9 percent to just below 3 billion Swiss francs. Excluding the currency impact and. 2011 15 ©201 1Holcim Ltd/ Switzerland ResultsQ3 2011 15) The strong appreciation of the Swiss franc during the first half of 2011 continued to negatively imp act the financial results during the quarter. 12.4 12.2 9M 20 09 30.4 4. 1 3 .9 4.2 5.1 4.2 4.4 4.2 9M 2010 34.4 9M 2011 36.1 0. 8 0.8 0.8 9. 3 9. 8 4 .9 7.6 7.7 8.2 ∆ 9M10/9M11* LFL Change in Total Total Asphalt 9M 20 09 8.1 9M 2010 7.8 9M 2011