Cementir N : Report on payments to governments for the year 2023

REPORT ON PAYMENTS TO GOVERNMENTS FOR THE YEAR 2023

Cementir Holding N.V.	Share capital: € 159,120,000
Registered Office: 36, Zuidplein, 1077 XV, Amsterdam, The Netherlands
VAT number: 02158501003
P: [phone]
Tax number: 00725950638
Secondary and operational office: 200, Corso di Francia, 00191 Rome, Italy
CCI number 76026728 - Netherlands Chamber of Commerce
P: [phone]
www.cementirholding.com

REPORT ON PAYMENTS TO GOVERNMENTS FOR THE FINANCIAL YEAR 2023

Introduction

Cementir Holding is a Dutch public limited company resulting from the conversion of the Italian joint-stock company (Cementir Holding S.p.A.) into a Dutch Naamloze Vennootschap (equivalent to an Italian joint- stock company), following the transfer of the Company's registered office from Italy to the Netherlands (hereinafter referred to also as the "Cross Border Conversion").

The transfer of the Company's registered office to Amsterdam, the Netherlands (Zuidplein 36, 1077 XV), approved by the extraordinary shareholders' meeting of 28 June 2019, was finalised on 5 October 2019.

On the same date, the Board of Directors of the Company has resolved to establish a secondary and operational office in Italy, at Corso di Francia, 200, Rome, Italy. The tax residence of the Company has remained in Italy.

The Company continues being listed in the STAR segment of the Euronext Milan Stock Exchange, where it has been listed since 1955.

Cementir Holding has elected the Netherlands as home Member State for the purposes of Article 2(1) of the Directive 2004/109/EC of the European Parliament and the Council of 15 December 2004 (the so-called "Transparency Directive").

This Report on payments to governments (hereinafter referred to as "Report") made on an annual basis by Cementir Holding Group, active in the extractive and logging industries, complies with information obligations required under Directive 2013/34/EU of June 26, 2013, as enacted by Dutch legislation, in particular Section 2:392a and 2:394 Dutch Civil Code (DCC), under general administrative regulation of November 20, 2015 and under Section 5:25e Financial Supervision Act ("Wet op het financieel toezichf").

In particular the Report is required to "large undertakings" as well as "public-interest entities", involved in the exploration, prospection, discovery, development and extraction of minerals, oil, natural gas deposits or other materials, including those used by Cementir Holding Group for the production of cement, ready-mixed concrete and aggregates, if applicable.

This Report is available for download from www,cementirholding,com and it was filed with the Netherlands Chamber of Commerce on June 28th, 2024.

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BASIS FOR PREPARATION

Legislation and Scope

This consolidated Report has been prepared pursuant to the Transparency Directive (2013/50/EU - Transparency II i.e.) and in accordance with the disclosure of Payments to Governments required under Chapter 10 of the EU Directive 2013/34/EU (hereafter "Directive") incorporated into Dutch legislation, in particular into Section 2:392a and 2:394 Dutch Civil Code (DCC), under general administrative regulation of November 20, 2015 and under Section 5:25e Financial Supervision Act ("Wet op het financieel toezichf").

This Report includes payments to governments made by the consolidated subsidiaries undertakings and not even by the parent company Cementir Holding NV, as it is a holding company, within the financial year 2023. Based on this regulatory framework, the scope of consolidation corresponds to that of the consolidated financial statements of Cementir Holding as at 31 December 2023 in accordance with IFRSs.

Activities

This Report discloses cash payments and in-kind payments made to governments by Cementir Holding Group arising from extractive activities of limestone, aggregates, gypsum, chalk, slate, building stones or other materials for producing cement and ready-mixed concrete.

Government

Government refers to any national, regional or local authority of a EU Member State or of third country (including departments, governmental bodies and agencies) as well as any undertakings controlled by an authority. Under the Directive 2013/34/EU the term control is identified with the obligation of including the accounts of the controlled entity in the consolidated financial statements of the controlling entity (Art. 41.3 Directive).

Project

Payments are reported at project level except that payments that are not attributable to a specific project are reported at entity level, generally as "Amounts non-allocated to projects".

Project is defined as operational activities which are governed by a single contract, license, lease, concession or similar legal agreements and form the basis for payment liabilities with a government. If such agreements are substantially interconnected, those agreements are to be treated as a single project (Art. 41.4 Directive).

"Substantially interconnected" means forming a set of operationally and geographically integrated contracts, licenses, leases or concessions or related agreements with substantially similar terms that are signed with a

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government giving rise to payment liabilities. Indicators of integration include, but are not limited to, geographic proximity, the use of shared infrastructure and common operational management.

These projects mainly concern quarries or gravel and sand pits.

Payments

Payment means an amount paid, whether in cash or in kind, resulting from extractive operations within the financial year (Art, 41,5 Directive). In particular:

• Payments made by cash are reported in the period in which they are paid;
• In-kindpayments, based on the underlying production delivery, are reported on an accrual basis. They are converted to an equivalent cash value based on the most appropriate and relevant valuation method for each payment (at cost or market value or such value as stated in the contract) and are reported in both volumes and the equivalent cash value.

The payments listed in this report on payments relate to cash payments. In the 2023 financial year, no reportable payments in kind corresponded to or exceeded individually or in total the disclosure threshold. The Directive mentions the following payment types:

• Production entitlements: these are payments to governments based on the volume of output, as mandated in any agreement or license. This mandated volume-based calculations can be paid in cash or in-kind, and can be net of any other royalty payments. In-kind payments are converted to a euro amount based on the market price prevailing at the date of settlement.
• Taxes: represents taxes levied on the income, production or profits of corporations. It also includes withholding taxes paid on dividends, interest, royalties and services. Taxes levied on consumption such as value added taxes, personal income taxes or sales taxes are excluded. Taxes levied on the income, production or profits of corporations are included in "Amounts non-allocated to projects".
• Royalties: these are payments to governments in respect of revenue or production related to the extractive activities.
• Dividends: these are dividend that are paid in lieu of production entitlements or royalties, excluding dividends paid to a government as an ordinary shareholder. For the year ended December 31, 2023, there were no reportable dividend payments to a government.

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• Bonuses: these are payments to governments related to awards, grants, or transfer of extraction rights. Payments can be in the form of periodic payments or a fixed amount upon signing of a contract, or an achievement of certain production levels or targets and discovery of additional mineral resources or deposits. For the year ended December 31, 2023, there were no reportable payments to a government.
• License fees, rental fees, entry fees and other considerations for licenses and/or concessions: these are fees and other sums paid as consideration for acquiring a license for gaining access to an area where extractive activities are performed. Administrative government fees that are not specifically related to the extractive sector are excluded. Also excluded are payments made in return for services provided by a government.
• Construction or improvement of Infrastructure: these are payments which relate to the construction or improvement of infrastructure (road, bridge or rail) not substantially dedicated for the use of extractive activities. Payments which are of a social investment in nature, for example building of a school or hospital, are excluded. For the year ended December 31, 2023, there were no reportable payments to a government.

Materiality

The regulation provides that payments below EUR 100,000 made in the reporting period are not reported, whether made as a single payment or as a series of related payments (Art. 43.1 Directive).

Exchange rate

Payments made in currencies other than Euro are translated for this Report based on the foreign exchange rate at the relevant average annual rate.

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REPORT ON PAYMENTS TO GOVERNMENTS 2023

PAYMENTS OVERVIEW

(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
	entitlement
						/improvements
Denmark	1,339	18,606	-	-	-	59	-	20,004
Norway	-	730	-	-	-	1	-	731
Sweden	-	978	-	-	-	-	-	978
Belgium	636	21,280	2,118	-	-	-	-	24,034
France	-	6,193	-	-	-	-	-	6,193
Türkiye	-	10,422	1,201	-	-	512	-	12,135
Egypt	-	2,610	191	-	-	-	-	2,801
China	86	3,329	-	-	-	3	-	3,418
Malaysia	-	350	199	-	-	-	-	549
Total	2,061	64,498	3,709	-	-	575	-	70,843

DENMARK

PAYMENTS BY GOVERNMENT

	Production						Infrastructure
(EUR '000)	Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Central Government	1,339	18,606	-	-	-	59	-	20,004
"SKAT", Aalborg
Total	1,339	18,606	-	-	-	59	-	20,004
PAYMENTS BY PROJECT
(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Granite	-	-	-	-	-	59	-	59
Aalborg chalk quarry	928	-	-	-	-	-	-	928
Tranum sand quarry	207	-	-	-	-	-	-	207
Amounts non-	204	18,606	-	-	-	-	-	18,810
allocated to projects
Total	1,339	18,606	-	-	-	59	-	20,004

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NORWAY

PAYMENTS BY GOVERNMENT

	Production						Infrastructure
(EUR '000)	Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Central Government	-	730	-	-	-	1	-	731
Total	-	730	-	-	-	1	-	731
PAYMENTS BY PROJECT
(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Amounts non-	-	730	-	-	-	1	-	731
allocated to projects
Total	-	730	-	-	-	1	-	731

SWEDEN

PAYMENTS BY GOVERNMENT

(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Central Government
"Svenska	-	978	-	-	-	-	-	978
Skatteverket", Solna
Total	-	978	-	-	-	-	-	978
PAYMENTS BY PROJECT
(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Gravel	-	-	-	-	-	-	-	-
Amounts non-	-	978	-	-	-	-	-	978
allocated to projects
Total	-	978	-	-	-	-	-	978

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BELGIUM

PAYMENTS BY GOVERNMENT

(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Municipality of	636	-	33	-	-	-	-	669
Antoing, Hainaut
Municipality of	-	-	1,876	-	-	-	-	1,876
Tournai, Hainaut
Region of Wallone	-	3,133	209	-	-	-	-	3,342
Central Governemnt
"Ministère de Finance	-	18,147	-	-	-	-	-	18,147
Belgique"
Total	636	21,280	2,118	-	-	-	-	24,034
PAYMENTS BY PROJECT
(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Antoing quarry	636	94	67	-	-	-	-	797
Clypot quarry	-	45	14	-	-	-	-	59
Barry quarry	-	44	-	-	-	-	-	44
Amounts non-	-	21,097	2,037	-	-	-	-	23,134
allocated to projects
Total	636	21,280	2,118	-	-	-	-	24,034

FRANCE

PAYMENTS BY GOVERNMENT

(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Direction Générale	-	6,193	-	-	-	-	-	6,193
des impôts
Total	-	6,193	-	-	-	-	-	6,193
PAYMENTS BY PROJECT
(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Amounts non-	-	6,193	-	-	-	-	-	6,193
allocated to projects
Total	-	6,193	-	-	-	-	-	6,193

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TÜRKIYE

PAYMENTS BY GOVERNMENT

(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Treasury Tax	-	-	1,201	-	-	-	-	1,201
Administration
General Directorate	-	-	-	-	-	317	-	317
of Forestry
General Directorate	-	-	-	-	-	195	-	195
of Mining Affairs
Central Government	-	10,422	-	-	-		-	10,422
Total	-	10,422	1,201	-	-	512	-	12,135
PAYMENTS BY PROJECT
(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Trakya limestone	-	-	220	-	-	29	-	249
quarry
Izmir limestone	-	-	368	-	-	274	-	642
quarry
Mugla limestone	-	-	29	-	-	30	-	59
quarry
Torbali limestone	-	-	298	-	-	60	-	358
quarry
Kars limestone	-	-	101	-	-	43	-	144
quarry
Elazig limestone	-	-	185	-	-	76	-	261
quarry
Amounts non-	-	10,422	-	-	-	-	-	10,422
allocated to projects
Total	-	10,422	1,201	-	-	512	-	12,135

EGYPT

PAYMENTS BY GOVERNMENT

(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Central Government	-	2,610	191	-	-	-	-	2,801
Total	-	2,610	191	-	-	-	-	2,801
PAYMENTS BY PROJECT
(EUR '000)	Production						Infrastructure
Taxes	Royalties	Dividends	Bonuses	Fees	construction	Total
entitlement
						/improvements
Amounts non-	-	2,610	191	-	-	-	-	2,801
allocated to projects
Total	-	2,610	191	-	-	-	-	2,801

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