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Principal Subsidiaries

12 Months Ended

Dec. 31, 2024

Investments accounted for using equity method [abstract]

27)	PRINCIPAL SUBSIDIARIES

As mentioned in notes 4.3 and 21.4, as of December 31, 2024 and 2023, there are

non-controlling

interests in certain consolidated entities that are in turn holding companies of relevant operations. The principal subsidiaries as of December 31, 2024 and 2023, which ownership interest is presented according to the interest maintained by Cemex, were as follows:


		% Interest

Subsidiary	Country	2024		2023

Cemex España, S.A. 1	Spain		99.9		99.9
Cemex, Inc.	United States of America		100.0		100.0
Cemex Nicaragua, S.A. 2	Nicaragua		100.0		100.0
Assiut Cement Company	Egypt		95.8		95.8
Cemex Colombia, S.A. 3	Colombia		99.7		99.7
Cemento Bayano, S.A. 4	Panama		99.5		99.5
Cemex Dominicana, S.A. 5	Dominican Republic		100.0		100.0
Trinidad Cement Limited	Trinidad and Tobago		69.8		69.8
Caribbean Cement Company Limited 6	Jamaica		79.0		79.0
Cemex de Puerto Rico Inc.	Puerto Rico		100.0		100.0
Cemex France (formerly Cemex France Gestion (S.A.S.))	France		100.0		100.0
Cemex Holdings Philippines, Inc.	Philippines		—		89.9
Solid Cement Corporation	Philippines		—		100.0
APO Cement Corporation	Philippines		—		100.0
Cemex UK	United Kingdom		100.0		100.0
Cemex Deutschland, AG.	Germany		100.0		100.0
Cemex Czech Republic, s.r.o.	Czech Republic		100.0		100.0
Cemex Polska sp. Z.o.o.	Poland		100.0		100.0
Cemex Holdings (Israel) Ltd.	Israel		100.0		100.0
Cemex Topmix LLC, Cemex Supermix LLC and Cemex Falcon LLC 7	United Arab Emirates		100.0		100.0
Cemex International Trading LLC 8	United States of America		100.0		100.0
Sunbulk Shipping, S.L.U. 9	Spain		100.0		100.0

1	Cemex España is the direct or indirect holding company of most of Cemex’s international operations.

2	Represents Cemex Colombia’s 99% interest and CLH’s 1% interest held indirectly through another subsidiary of CLH.

3	Represents CLH’s direct and indirect interest in ordinary and preferred shares, including own shares held in Cemex Colombia’s treasury.

4	Represents CLH’s 99.483% indirect interest in ordinary shares, which excludes a 0.516% interest held in Cemento Bayano, S.A.’s treasury.

5	See subsequent event related to this subsidiary in note 28.

6	Represents the aggregate ownership interest of Cemex in this entity of 79.04%, which includes TCL’s 74.08% direct and indirect interest and Cemex’s 4.96% indirect interest held through other subsidiaries.

7	Cemex España indirectly owns a 49% equity interest in each of these entities and indirectly holds the remaining 51% of the economic benefits, through agreements with other shareholders.

8	Cemex International Trading LLC participates in the international trading of Cemex’s products and fuel commercialization.

Sunbulk Shipping, S.L.U. is involved mainly in maritime and land transportation and/or shipping of goods worldwide and the handling, administration, and hiring of shipments and cargo at ports, terminals and other loading and unloading destinations worldwide, as well as the offering and contracting of services in relation thereto for Cemex’s trading entities and operations.