Amrize Q3 2026 earnings rise 3.3% to $558M
Amrize's updated outlook sets 2026 revenue at $12.2 billion to $12.4 billion and Adjusted EBITDA at $2.95 billion to $3.05 billion.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Amrize Ltd (AMRZ) reported third-quarter 2026 revenue of $3.771 billion, net income of $558 million and Adjusted EBITDA of $1.076 billion. Year over year, these increased 2.2%, 3.3% and 0.2%, respectively; diluted EPS was $1.02 versus $0.98.
Building Materials revenue was $2.842 billion, up 1.8%, and Segment Adjusted EBITDA was $938 million, up 2.7%, with a 30-basis-point margin expansion. Building Envelope revenue was $929 million, up 3.6%, while Segment Adjusted EBITDA fell 14.6% to $182 million. For the nine months ended September 30, 2026, operating cash flow was $222 million versus $417 million, and free cash flow was a use of $551 million versus a use of $186 million.
Updated 2026 guidance is revenue of $12.2 billion to $12.4 billion and Adjusted EBITDA of $2.95 billion to $3.05 billion. Amrize expects Building Materials price-cost to be positive in Q4; Building Envelope price-cost positivity is expected in 2027. It completed the Rapid Redi-Mix acquisition in Dallas-Fort Worth and its $1 billion share repurchase program on October 28, 2026, representing approximately 4% of share capital. The board declared a $0.11-per-share dividend payable November 18, 2026.
2 points · 0 major0 major · 2 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointNine-month revenue increased 5.0% to $9.445 billion.
- Moderate pointNine-month net income increased 7.5% to $927 million.
Negative
- Moderate pointBuilding Envelope Segment Adjusted EBITDA fell 14.6% to $182 million.
- Moderate pointNine-month operating cash flow was $222 million, down from $417 million.
Filing Explained
As of
8-K Event Classification
3 items: 2.02, 7.01, 9.01
3 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Revenue: $3.771 billion
Net income: $558 million
Adjusted EBITDA: $1.076 billion
+4 more
7 metrics
Revenue
$3.771 billion
Third quarter 2026; up 2.2% from the third quarter of 2025
Net income
$558 million
Third quarter 2026; up 3.3% from the third quarter of 2025
Adjusted EBITDA
$1.076 billion
Third quarter 2026; up 0.2% from the third quarter of 2025
Diluted EPS
$1.02 per diluted share
Third quarter 2026; compared with $0.98 in the third quarter of 2025
Operating cash flow
$222 million
Nine months ended September 30, 2026; compared with $417 million in 2025
2026 revenue guidance
$12.2 billion to $12.4 billion
Updated full-year guidance
2026 Adjusted EBITDA guidance
$2.95 billion to $3.05 billion
Updated full-year guidance
Key Terms
Adjusted EBITDA, Free Cash Flow, Net Leverage Ratio, Constant Currency, +1 more
5 terms
Adjusted EBITDA financial
"Adjusted EBITDA represents a Non-GAAP measure"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
Free Cash Flow financial
"Free Cash Flow is defined as Net cash used in operating activities less Capital Expenditures, Net"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Net Leverage Ratio financial
"Net Leverage Ratio is defined as Net Debt divided by trailing 12 months Adjusted EBITDA"
The net leverage ratio measures how much debt a company has compared to its available assets or earnings, after accounting for its cash and liquid assets. It helps investors understand how heavily a company relies on borrowed money to finance its operations and growth. A higher ratio indicates greater financial risk, while a lower ratio suggests a more cautious approach to borrowing.
Constant Currency financial
"Constant Currency is a non-GAAP financial measure"
Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.
capital contribution reserves financial
"Dividends are paid out of capital contribution reserves"
Capital contribution reserves are funds that owners or shareholders add to a company beyond normal operating income, recorded as equity rather than profit. Think of it as an owner's cash cushion or emergency top-up that boosts the company’s net worth and ability to absorb losses without borrowing. Investors watch this because it changes the company’s book value, affects financial strength and flexibility, and can influence dividend or payout rules in some jurisdictions.
Earnings Snapshot
Revenue: $3.771 billion · Guidance included
Third quarter 2026
Revenue
$3.771 billion
Up 2.2% from the third quarter of 2025
Net income
$558 million
Up 3.3% from the third quarter of 2025
Adjusted EBITDA
$1.076 billion
Up 0.2% from the third quarter of 2025
Diluted EPS
$1.02 per diluted share
Compared with $0.98 in the third quarter of 2025
Guidance
Updated FY 2026 guidance: revenue of $12.2 billion to $12.4 billion and Adjusted EBITDA of $2.95 billion to $3.05 billion.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How did AMRZ perform in Q3 2026?
Amrize reported revenue of $3.771 billion, net income of $558 million and Adjusted EBITDA of $1.076 billion for Q3 2026. Those measures increased 2.2%, 3.3% and 0.2%, respectively, from Q3 2025; diluted EPS was $1.02 versus $0.98.
What is AMRZ's updated 2026 guidance?
Amrize's updated 2026 guidance is revenue of $12.2 billion to $12.4 billion and Adjusted EBITDA of $2.95 billion to $3.05 billion. The guidance assumptions include approximately $900 million in capital expenditures, approximately $340 million in net interest expense, an adjusted effective tax rate of 23% to 25%, and approximately $200 million in corporate costs.
When will AMRZ pay its Q3 2026 dividend?
Amrize declared a third-quarter dividend of $0.11 per share, to be paid November 18, 2026. The last trading day with entitlement is November 9, 2026, and the shares will trade ex-dividend on November 10, 2026, which is also the record date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________________
FORM 8-K
___________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
October 28, 2026
Date of Report (date of earliest event reported)
___________________________________
(Exact name of registrant as specified in its charter)
___________________________________
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
(Address of principal executive offices and zip code) | ||||||||
(Registrant's telephone number, including area code) | ||||||||
___________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Act: | ||||||||
Title of each class | Trading symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02 - Results of Operations and Financial Condition
On October 28, 2026, Amrize Ltd (the "Company") issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference into this Item 2.02 in its entirety. A copy of the press release will also be available on the Company’s website.
Item 7.01 - Regulation FD Disclosure
To supplement the information in the attached press release, the Company has also prepared an investor presentation, which will be available on the Company’s website at investors.amrize.com. A copy of the investor presentation is furnished as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference into this Item 7.01 in its entirety.
The information included herein and in Exhibit 99.2 is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section and shall not be deemed incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 - Financial Statements and Exhibits
(d): The following exhibits are being filed herewith:
Exhibit No. | Description | |||||||
99.1 | Press release dated October 28, 2026 | |||||||
99.2 | Investor presentation dated October 28, 2026 | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Amrize Ltd | |||||
By: | /s/ Samuel Poletti | ||||
Name: | Samuel Poletti | ||||
Title: | Chief Financial Officer | ||||
Date: | October 28, 2026 | ||||
Amrize Reports Third Quarter 2026 Results • Revenues up 2.2% to $3,771 million • Net Income grew 3.3% to $558 million • Adjusted EBITDA increased 0.2% to $1,076 million • Margin expansion of 30 basis points in Building Materials • Completed Rapid Redi-Mix acquisition in Dallas-Fort Worth • Board of Directors declared third quarter dividend of $0.11 per share • FY 2026 Guidance updated reflecting continued cost inflation and elevated interest rates CHICAGO/ZUG, Switzerland, October 28, 2026 – Amrize (AMRZ) announced today its third quarter 2026 financial results. Jan Jenisch, Chairman and CEO: "With the strength of our network and strategic footprint, we delivered resilient results in the third quarter. We increased revenue 2.2% on strong pricing and contributions from our recent acquisitions, even as weather patterns affected construction in the quarter. We grew Net Income by 3.3% to $558 million and increased Adjusted EBITDA to $1,076 million. While oil price driven cost inflation continued to affect the industry, we're proactively managing what we can control and achieved strong gains in pricing, surcharges and our ASPIRE program. In the third quarter, cement pricing increased 1.8% and aggregates prices grew 6.9% driving margin expansion of 30 basis points in Building Materials. We achieved positive price traction in commercial and residential roofing in Building Envelope. In addition to pricing, our energy, fuel and freight surcharges contributed $23 million across our business. We continued to drive synergies with our ASPIRE program and have now delivered $73 million in savings year-to-date. We are executing on our strategy of investing for profitable growth in attractive markets, while returning cash to shareholders. We invested $262 million in Capex as we expand production and improve efficiency to best serve our customers. Our recent acquisitions PB Materials and Rapid Redi-Mix are exceeding our expectations and are expected to be EPS accretive this year. While inflation and interest rates continue to be a headwind for full year results, mega-trends from data centers and energy projects to advanced manufacturing and infrastructure are expected to continue driving long term construction demand. With our unparalleled footprint across North America, we are well positioned to serve our customers, deliver profitable growth and return value to our shareholders." Shareholder Return Amrize has returned $1.1 billion to shareholders with share buybacks and dividends in the first three quarters. The company repurchased $750 million of Amrize shares in the first three quarters. On October 28, 2026, the company completed its $1 billion share repurchase program, representing approximately 4% of the share capital. Amrize has paid $364 million of dividends year to date, including the special one time dividend for 2025 and quarterly dividends for the first and second quarters of 2026. The Amrize Board of Directors declared a dividend of $0.11 per share for the third quarter to be paid on November 18, 2026. The last trading day with entitlement to receive the quarterly dividend, known as the cum-dividend date, is November 9, 2026. The shares will be traded ex-dividend on November 10, 2026, which is also the record date. Dividends are paid out of capital contribution reserves1 and are not subject to Swiss withholding tax. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 1 1 Dividends will be made in the form of distributions paid out of legal reserves from capital contributions and are not subject to Swiss withholding tax. The dividend is the third installment of the annual dividend of up to $0.44 per share approved at the Company's 2026 Annual General Meeting.
Full Year 2026 Financial Guidance2 Building Materials had a strong first nine months of the year with revenue growth of 6.2% and Adjusted EBITDA growth of 5.5%. Weather patterns moderated volumes in the third quarter and elevated interest rates may affect fourth quarter volumes. For the full year, we continue to expect cement pricing to be flat to up low-single digits and aggregates pricing to be up mid-single digits. Energy, fuel and freight surcharges have helped offset cost inflation, and the company expects Building Materials to be price-cost positive in Q4 2026. Building Envelope increased revenue 2.0% in the first nine months. The company expects commercial roofing volumes to remain resilient and residential roofing to be softer due to lower existing-home sales. Price increases are phasing in across the Building Envelope portfolio, as well as freight and fuel surcharges to offset cost inflation. The company expects price-cost to improve sequentially in Q4 2026 compared to Q3 2026. However, the magnitude of inflation has pushed the company's expectation for Building Envelope price-cost positivity into 2027. The ASPIRE program continues to execute with $73 million savings achieved across raw materials, service, logistics and equipment spend in the first nine months of the year. The program is on track to achieve $80 million of savings in 2026. Insurance proceeds of $36 million recognized in the Building Materials segment during Q4 2025 are not expected to repeat this year. Based on these drivers, Amrize is updating its FY 2026 financial guidance as follows: Revenues $12.2 billion to $12.4 billion Adjusted EBITDA $2.95 billion to $3.05 billion The company's 2026 financial guidance now includes the following underlying assumptions: Capital Expenditures ~$900 million Interest Expense, Net ~$340 million Adjusted Effective Tax Rate 23% - 25% Corporate Costs ~$200 million Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 2 2 Amrize provides forward-looking guidance regarding Adjusted EBITDA. Amrize cannot, without unreasonable effort, forecast certain adjusted items excluded from comparable U.S. GAAP financial measures. These items include Acquisition and integration-related costs, Litigation-related costs, Loss on impairments, Restructuring and other costs, Spin-off and separation-related costs, Other non-operating income, net, and Income from equity method investments, that are difficult to predict in advance to include in a U.S. GAAP estimate. For the same reasons, Amrize is unable to address the probable significance of the items.
Amrize Consolidated Results (Unaudited) For the three months For the nine months ended September 30, ended September 30, $ in millions, except per share data 2026 2025 % Change 2026 2025 % Change Revenues $ 3,771 $ 3,690 2.2% $ 9,445 $ 8,997 5.0% Net income $ 558 $ 540 3.3% $ 927 $ 862 7.5% Net income margin 14.8% 14.6% 20bps 9.8% 9.6% 20bps Adjusted EBITDA3 $ 1,076 $ 1,074 0.2% $ 2,253 $ 2,231 1.0% Adjusted EBITDA margin4 28.5% 29.1% (60bps) 23.9% 24.8% (90bps) Diluted earnings per share (EPS) $ 1.02 $ 0.98 4.1% $ 1.69 $ 1.56 8.3% Adjusted diluted earnings per share5 $ 1.05 $ 1.05 —% $ 1.78 $ 1.72 3.5% Revenues were $3,771 million in the third quarter of 2026 compared to $3,690 million in 2025. Revenues were 2.2% higher in the quarter, primarily driven by price increases of $78 million, contributions from acquisitions of $77 million, and surcharges of $23 million, partially offset by lower volumes and the unfavorable impact of foreign exchange and other revenues. Net income was $558 million for the third quarter of 2026, or $1.02 per diluted share, compared with Net income of $540 million, or $0.98 per diluted share, in the third quarter of 2025. Adjusted diluted earnings per share for the third quarter of 2026 was $1.05 compared to $1.05 in the third quarter of 2025. Adjusted EBITDA was $1,076 million for the third quarter of 2026 compared to $1,074 million in 2025. The increase was driven by price increases, surcharges, and contributions from acquisitions, partially offset by higher freight, diesel and raw material costs and lower volumes. Adjusted EBITDA Margin was 28.5% for the three months ended September 30, 2026, compared to 29.1% for the three months ended September 30, 2025. Unallocated corporate costs in the third quarter of 2026 were $44 million compared to $52 million in the third quarter of 2025. The company invested $262 million and $773 million in capital expenditures, net for the three and nine months ended September 30, 2026, respectively, and expects to invest approximately $900 million in 2026 to expand production and increase operational efficiency to best serve customers. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 3 3 Adjusted EBITDA represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 4 Adjusted EBITDA Margin represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 5 Adjusted diluted earnings per share represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15.
Amrize Building Materials Results (Unaudited) For the three months For the nine months ended September 30, ended September 30, $ in millions 2026 2025 % Change 2026 2025 % Change Revenues $ 2,842 $ 2,793 1.8% $ 6,789 $ 6,393 6.2% Segment Adjusted EBITDA6 $ 938 $ 913 2.7% $ 1,898 $ 1,799 5.5% Segment Adjusted EBITDA margin7 33.0% 32.7% 30bps 28.0% 28.1% (10bps) Volumes For the three months For the nine months ended September 30, ended September 30, in millions 2026 2025 % Change 2026 2025 % Change Cement - tons sold8 6.8 7.1 (4.2%) 17.3 16.7 3.6% Aggregates - tons sold 40.1 40.2 (0.2%) 92.3 88.0 4.9% Average Selling Price For the three months ended September 30, $ per ton 2026 2025 % Change Constant Currency9 % Change Constant Currency Cement - price per ton8 $172.85 $170.02 1.7% $173.10 1.8% Aggregates - price per ton10 $14.76 $13.85 6.6% $14.80 6.9% Average Selling Price For the nine months ended September 30, $ per ton 2026 2025 % Change Constant Currency9 % Change Constant Currency Cement - price per ton8 $171.36 $170.82 0.3% $171.09 0.2% Aggregates - price per ton10 $14.87 $14.15 5.1% $14.82 4.7% Building Materials Revenues were $2,842 million in the third quarter of 2026 compared to $2,793 million in 2025. The increase was driven by pricing growth, contributions from acquisitions and surcharges, which was partially offset by lower volumes and the unfavorable impact of foreign exchange. Cement volumes were down 4.2% and aggregates volumes were down 0.2% due to weather in the Northeast, South and Central regions, partially offset by steady state and federally funded multi-year projects. Cement pricing was up 1.8% on a constant currency basis compared to the third quarter of 2025 and aggregates pricing grew 6.9%. In addition to pricing, energy, fuel and freight surcharges contributed to the quarter. Third quarter 2026 Segment Adjusted EBITDA for Building Materials was up 2.7% to $938 million, compared to $913 million in 2025. The increase was driven by price increases, contributions from acquisitions, and surcharges, which was partially offset by higher freight and diesel costs. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 4 6 Segment Adjusted EBITDA represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 7 Segment Adjusted EBITDA Margin represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 8 Cement volume and pricing figures presented above exclude trading. 9 Constant Currency is a non-GAAP financial measure, which is defined on page 9. 10 Aggregates pricing figures presented above are product based, excluding freight revenues.
Amrize Building Envelope Results (Unaudited) For the three months For the nine months ended September 30, ended September 30, $ in millions 2026 2025 % Change 2026 2025 % Change Revenues $ 929 $ 897 3.6% $ 2,656 $ 2,604 2.0% Segment Adjusted EBITDA $ 182 $ 213 (14.6%) $ 499 $ 586 (14.8%) Segment Adjusted EBITDA margin 19.6% 23.7% (410bps) 18.8% 22.5% (370bps) Building Envelope Revenues were $929 million for the third quarter of 2026, compared to $897 million in 2025. Revenue growth of 3.6% in the third quarter of 2026 was primarily driven by higher volumes and pricing. Commercial roofing volumes remained strong, led by expanded system sales, large-scale data centers and industrial projects. Commercial re-roofing demand remained resilient. Shingle volumes were impacted by lack of significant storms and sluggish existing-home sales, driving lower re-roofing demand. Pricing improved sequentially and year-over-year as price increases were phased in throughout the third quarter of 2026. In addition to pricing, fuel and freight surcharges contributed to the quarter. Third quarter 2026 Segment Adjusted EBITDA for the Building Envelope segment was $182 million, compared to $213 million in 2025. The decrease in Segment Adjusted EBITDA was primarily attributable to higher freight and raw material costs, partially offset by the benefit from improved volumes, pricing, and fuel and freight surcharges. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 5
Amrize Cash Flow and Debt For the nine months ended September 30, 2026, net cash provided by operating activities was $222 million compared to $417 million for the nine months ended September 30, 2025. The decrease in cash provided by operating activities of $195 million was primarily driven by net working capital changes and the settlement of Spin-Off related balances in the prior period, partially offset by higher net income and non-cash expenses. Free Cash Flow11 was a use of $551 million for the nine months ended September 30, 2026 compared to a use of $186 million for the nine months ended September 30, 2025. The decrease in Free Cash Flow was primarily driven by lower cash provided by operating activities and higher Capex investments for growth initiatives. Free Cash Flow is historically seasonal and the company generates the majority of its cash flow in the second half of the year. Gross Debt was $5,848 million and Cash and cash equivalents were $299 million as of September 30, 2026, resulting in Net Debt12 of $5,549 million. The Net Leverage Ratio13 as of September 30, 2026 was 1.8x. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 6 11 Free Cash Flow represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 12 Net Debt represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 13 Net Leverage Ratio represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15.
Revision of Prior Period Financial Statements The company has revised certain prior period financial statements to correct immaterial adjustments identified during the preparation of the consolidated financial statements. These adjustments correct an extended warranty misstatement as well as other unrelated misstatements. These revisions were not material to the prior periods and do not affect the ongoing operations of the company. Third Quarter Webcast Information Amrize will host a live webcast to discuss the company’s financial results at 7:30 am Central Time on Thursday, October 29, 2026. Registration for the live webcast can be completed at https://amrize- quarterly-results-q3-2026.open-exchange.net/ Amrize’s financial results, presentation materials and webcast are accessible in the events section of www.amrize.com/investors. A replay and transcript will be available at the same location following the webcast. About Amrize Amrize (NYSE: AMRZ) is building North America, as the partner of choice for professional builders with advanced branded solutions from foundation to rooftop. With over 1,000 sites and a highly efficient distribution network, we deliver for our customers in every U.S. state and Canadian province. Our more than 19,000 teammates uniquely serve every construction market from infrastructure, commercial and residential to new build, repair and refurbishment. Amrize achieved $11.8 billion in revenues in 2025 and is listed on the New York Stock Exchange and the SIX Swiss Exchange. Learn more at www.amrize.com. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 7
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this presentation may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding expected cost savings, future financial targets, business strategies, management’s views with respect to future events and financial performance, and the assumptions underlying such expected cost savings, targets, strategies, and statements. These forward-looking statements concern our goals, beliefs, expectations, strategies, objectives, plans, future operating results and underlying assumptions, and other statements that are not necessarily based on historical facts. Without limitation, you can identify these statements by the fact that they do not relate strictly to historical or current facts, and these statements may contain words such as “may,” “will,” “could,” “should,” “might,” “projects,” “expects,” “believes,” “anticipates,” “intends,” “plans,” “continue,” “estimate,” or “pursue,” or similar expressions, or the negative or other variations thereof or comparable terms. In particular, they include statements relating to, among other things, future actions, strategies, future performance, future revenues, income and cash flows, the outcome of contingencies such as legal proceedings, and regulatory compliance. Actual results may differ materially from those contemplated (expressed or implied) by such forward-looking statements because of, among other things, potential risks and uncertainties, such as: the effect of political, economic and market conditions and geopolitical events; the level of demand in the construction industry; the cyclicality of the industries and businesses in which our customers operate; changes in the cost and/or availability of raw materials required to run our business; energy and fuel costs; adverse weather conditions and natural disasters; the logistical and other challenges inherent in our operations; the actions and initiatives of current and potential competitors; the level and volatility of, interest rates and other market indices; the ability of Amrize to realize the expected synergies for our acquisitions; the ability of Amrize to achieve margin expansion goals; the ability of Amrize to maintain satisfactory credit ratings; the outcome of pending litigation or future litigation; the impact of current, pending and future legislation and regulation; factors related to the failure of Amrize to achieve some or all of the expected strategic benefits or opportunities expected from the separation from Holcim Ltd (“Holcim”); material costs and expenses as a result of the separation from Holcim; our limited history operating as an independent, publicly traded company; our obligation to indemnify Holcim pursuant to the agreements entered into connection with the separation and the risk Holcim may not fulfill any obligations to indemnify Amrize under such agreements; that under applicable tax law, Amrize may be liable for certain tax liabilities of Holcim following the separation if Holcim were to fail to pay such taxes; the fact that Amrize may receive worse commercial terms from third-parties for services it used to receive from Holcim prior to the separation; the fact that certain of Amrize's executive officers and directors may have actual or potential conflicts of interest because of their previous positions at Holcim; and potential difficulties in maintaining relationships with key personnel; and other factors which can be found in Amrize’s media releases and Amrize’s filings with the SEC. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. You are advised, however, to review any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission and in our other public statements. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 8
FINANCIAL MEASURES AND DEFINITIONS This media release contains certain financial measures of historical performance and financial positions that are not prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). We refer to these measures as "Non-GAAP financial measures". Non-GAAP financial measures are reconciled to the most comparable U.S. GAAP financial measures in the schedules attached hereto. Adjusted financial measures are Non-GAAP financial measures and exclude adjusting items as described and reconciled to comparable U.S. GAAP financial measures in the Reconciliation of U.S. GAAP to Non-GAAP financial measures contained in this media release. We believe these adjusted financial measures facilitate analysis and comparisons of our ongoing business operations because they exclude items that may not be indicative of, or are unrelated to, the company’s and our business segments’ core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. These adjustments are consistent with how management views our businesses. Management uses these Non-GAAP financial measures in making financial, operating and planning decisions, and evaluating Amrize’s and each business segment’s ongoing performance. Our Non-GAAP financial measures are intended to supplement and should be read together with, and are not an alternative or substitute for, and should not be considered superior to, our reported financial results. Accordingly, users of our financial statements should not place undue reliance on these Non-GAAP financial measures. Because Non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ Non-GAAP financial measures having the same or similar names. As required by SEC rules, the tables on pages 13-15 below present a reconciliation of our presented Non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures. Adjusted EBITDA is defined as Segment Adjusted EBITDA including unallocated corporate costs. Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by Revenues. Adjusted Diluted EPS is defined as Diluted Earnings per Share, excluding the impact of Acquisition and integration- related costs, Litigation-related costs, Loss on impairments, Restructuring and other costs, Spin-off and separation- related costs. Capital Expenditures, Net includes purchases of property, plant and equipment, proceeds from disposals of long- lived assets, proceeds from land expropriation, and proceeds from property and casualty insurance income. Constant Currency Price per Ton is defined as price per ton adjusted to prior period foreign exchange rates, which is intended to eliminate the impact of foreign currency exchange rate fluctuations. Diluted Earnings per Share is computed by dividing Net income attributable to the company by the weighted-average number of shares outstanding during the applicable period, plus the effect of dilutive securities EBITDA is defined as Net income (loss), excluding Depreciation, depletion, accretion and amortization, Interest expense, net, and Income tax expense. EBITDA Margin is defined as EBITDA divided by Revenues. Free Cash Flow is defined as Net cash used in operating activities less Capital Expenditures, Net. Gross Debt is defined as the total amount of Short-term borrowings, Current portion of long-term debt, and Long term debt. Net Debt is defined as the sum of Short-term borrowings, Long-term debt and Current portion of long-term debt minus Cash and cash equivalents. Net Leverage Ratio is defined as Net Debt divided by trailing 12 months Adjusted EBITDA. Net Working Capital is defined as the change in Accounts receivables, Inventory, and Accounts payable. Organic Growth is defined as change excluding the impact of acquisitions, divestitures, and foreign currency fluctuations. Segment Adjusted EBITDA is defined as Net income (loss), and excludes the impact of Depreciation, depletion, accretion and amortization, Interest expense, net, Income tax expense, Acquisition and integration-related costs, Litigation-related costs, Loss on impairments, Restructuring and other costs, Spin-off and separation-related costs, Other non-operating income, net, Income from equity method investments, and unallocated corporate costs. Segment Adjusted EBITDA Margin is defined as Segment Adjusted EBITDA divided by Revenues. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 9
Amrize Ltd Unaudited Condensed Consolidated Statement of Operations ($ in millions, except per share data) For the three months For the nine months ended September 30, ended September 30, 2026 2025 2026 2025 Revenues $ 3,771 $ 3,690 $ 9,445 $ 8,997 Cost of revenues (2,690) (2,598) (7,163) (6,727) Gross profit 1,081 1,092 2,282 2,270 Selling, general and administrative expenses (291) (313) (859) (842) Gain on disposal of long-lived assets 3 4 11 9 Loss on impairments — — (2) (2) Operating income 793 783 1,432 1,435 Interest expense, net (89) (89) (256) (328) Other non-operating income, net 2 — 3 2 Income before income tax expense and income from equity method investments 706 694 1,179 1,109 Income tax expense (153) (158) (258) (252) Income from equity method investments 5 4 6 5 Net income 558 540 927 862 Net loss attributable to noncontrolling interests 1 2 5 3 Net income attributable to the Company $ 559 $ 542 $ 932 $ 865 Earnings per share attributable to the Company: Basic $ 1.03 $ 0.98 $ 1.69 $ 1.56 Diluted $ 1.02 $ 0.98 $ 1.69 $ 1.56 Weighted-average number of shares outstanding: Basic 544.6 553.1 550.1 553.1 Diluted 545.5 553.9 551.2 553.4 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 10
Amrize Ltd Unaudited Condensed Consolidated Balance Sheets ($ in millions) As of September 30, As of December 31, 2026 2025 Assets Current Assets: Cash and cash equivalents $ 299 $ 1,922 Accounts receivable, net 2,165 1,113 Inventories, net 1,567 1,490 Prepaid expenses and other current assets 198 88 Total current assets 4,229 4,613 Property, plant and equipment, net 8,529 7,936 Goodwill 9,056 9,044 Intangible assets, net 1,659 1,728 Operating lease right-of-use assets, net 631 615 Other noncurrent assets 251 273 Total Assets $ 24,355 $ 24,209 Liabilities and Equity Current Liabilities: Accounts payable $ 1,274 $ 1,530 Short-term borrowings 904 — Current portion of long-term debt 708 333 Operating lease liabilities 132 136 Other current liabilities 946 886 Total current liabilities 3,964 2,885 Long-term debt 4,236 4,936 Deferred income tax liabilities 1,109 1,042 Noncurrent operating lease liabilities 525 500 Other noncurrent liabilities 1,761 1,725 Total Liabilities 11,595 11,088 Total Equity 12,760 13,121 Total Liabilities and Equity $ 24,355 $ 24,209 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 11
Amrize Ltd Unaudited Condensed Consolidated Statements of Cash Flow ($ in millions) For the nine months ended September 30, 2026 2025 Cash Flows from Operating Activities: Net income $ 927 $ 862 Adjustments to reconcile net income to net cash provided by (used in) operating activities: Depreciation, depletion, accretion and amortization 757 683 Share-based compensation 29 6 Deferred tax expense (benefit) (14) 24 Other items, net 92 69 Changes in operating assets and liabilities, net of effects of acquisitions: Accounts receivable, net (1,069) (996) Due from related party — 49 Inventories, net (65) (7) Accounts payable (244) 13 Due to related party — (98) Other assets (100) (97) Other liabilities (74) (73) Defined benefit pension plans and other postretirement benefit plans (17) (18) Net cash provided by operating activities 222 417 Cash Flows from Investing Activities: Purchases of property, plant and equipment (786) (637) Acquisitions, net of cash acquired (467) (86) Net decrease in short-term related-party notes receivable from cash pooling program — 522 Other investing activities, net 51 (16) Net cash used in investing activities (1,202) (217) Cash Flows from Financing Activities: Transfers to Holcim, net — (98) Proceeds from short-term borrowings, net 904 547 Proceeds from issuance of long-term debt, net of discount — 3,395 Payments of debt issuance costs — (24) Net repayments of short-term related-party debt — (129) Proceeds from debt-for-debt exchange with Holcim — 922 Proceeds from issuances of long-term related-party debt — 22 Repayments of long-term related-party debt — (5,541) Repayments of long-term third-party debt (326) — Payments of finance lease obligations (98) (75) Repurchases of common stock (750) — Dividends paid (364) — Other financing activities, net 6 (4) Net cash used in financing activities (628) (985) Effect of exchange rate changes on cash and cash equivalents (15) 26 Decrease in cash and cash equivalents (1,623) (759) Cash and cash equivalents at the beginning of period 1,922 1,585 Cash and cash equivalents at the end of period $ 299 $ 826 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 12
Amrize Ltd Reconciliation of Non-GAAP Financial Measures Analysis of Change of Total Revenues (Unaudited) Analysis of Change (In millions, except for percentage data) For the three months ended September 30, 2025 Organic Growth Acquisitions Foreign Exchange For the three months ended September 30, 2026 % Change Total Revenues $ 3,690 10 77 (6) $ 3,771 2.2 % Analysis of Change (In millions, except for percentage data) For the nine months ended September 30, 2025 Organic Growth Acquisitions Foreign Exchange For the nine months ended September 30, 2026 % Change Total Revenues $ 8,997 275 154 19 9,445 5.0 % Adjusted EBITDA and Adjusted EBITDA Margin (Unaudited) For the three months For the nine months ($ in millions, except percentage data) ended September 30, ended September 30, 2026 2025 2026 2025 Net income $ 558 $ 540 $ 927 $ 862 Depreciation, depletion, accretion and amortization 263 239 757 683 Interest expense, net 89 89 256 328 Income tax expense 153 158 258 252 EBITDA 1,063 1,026 2,198 2,125 Acquisition and integration-related costs(1) 4 (2) 30 19 Litigation-related (settlements) costs(2) 1 40 (2) 44 Loss on impairments(3) — — 2 2 Restructuring and other costs(4) 7 4 16 13 Spin-off and separation-related costs(5) 8 10 18 35 Other non-operating income, net(6) (2) — (3) (2) Income from equity method investments (5) (4) (6) (5) Adjusted EBITDA 1,076 1,074 2,253 2,231 Unallocated corporate costs 44 52 144 154 Total Segment Adjusted EBITDA $ 1,120 $ 1,126 $ 2,397 $ 2,385 Building Materials $ 938 $ 913 $ 1,898 $ 1,799 Building Envelope $ 182 $ 213 $ 499 $ 586 Net income margin 14.8% 14.6% 9.8% 9.6% EBITDA Margin 28.2% 27.8% 23.3% 23.6% Adjusted EBITDA Margin 28.5% 29.1% 23.9% 24.8% Building Materials 33.0% 32.7% 28.0% 28.1% Building Envelope 19.6% 23.7% 18.8% 22.5% (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professional fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (2) Litigation-related settlements (costs) include certain litigation settlements, environmental remediation, and legal-related consulting and professional fees that are not representative of expenses arising in the ordinary course of business. (3) Loss on impairments consists of one-time charges on the company’s investments and property, plant, and equipment. (4) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (5) Spin-off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts.(6) Other non-operating income, net primarily consists of costs related to gains on proceeds from property and casualty insurance. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 13
Amrize Ltd Reconciliation of Non-GAAP Financial Measures (Unaudited) Net Debt Adjusted EBITDA Net Leverage Ratio ($ in millions, except ratio) As of September 30, 2026 Short-term borrowings $ 904 Current portion of long-term debt 708 Long-term debt 4,236 Gross Debt 5,848 Less: Cash and cash equivalents 299 Net Debt $ 5,549 For the trailing twelve months ended September 30, 2026 Net income $ 1,225 Depreciation, depletion, accretion and amortization 1,001 Interest expense, net 341 Income tax expense 358 EBITDA 2,925 Acquisition and integration-related costs(1) 61 Litigation-related (settlements) costs(2) — Loss on impairments(3) 15 Restructuring and other costs(4) 22 Spin-off and separation-related costs(5) 26 Other non-operating income, net(6) (5) Income from equity method investments (12) Adjusted EBITDA $ 3,032 (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professional fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (2) Litigation-related settlements (costs) include certain litigation settlements, environmental remediation, and legal-related consulting and professional fees that are not representative of expenses arising in the ordinary course of business. (3) Loss on impairments consists of one-time charges on the company’s investments and property, plant, and equipment. (4) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (5) Spin-off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts. (6) Other non-operating income, net primarily consists of costs related to gains on proceeds from property and casualty insurance. As of September 30, 2026 Net Leverage Ratio 1.8x Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 14
Amrize Ltd Reconciliation of Non-GAAP Financial Measures (Unaudited) Free Cash Flow Adjusted Diluted Earnings per Share ($ in millions, except ratios and per share amounts) For the three months For the nine months ended September 30, ended September 30, 2026 2025 2026 2025 Net cash provided by operating activities $ 697 $ 858 $ 222 $ 417 Capital expenditures, net(1) (262) (184) (773) (603) Free Cash Flow $ 435 $ 674 $ (551) $ (186) (1) Capital expenditures, net includes purchases of property, plant and equipment, proceeds from property and casualty insurance income, proceeds from land expropriation and proceeds from disposals of long-lived assets, included within Other investing activities, net in our Condensed Consolidated Statements of Cash Flow. For the three months For the nine months ended September 30, ended September 30, 2026 2025 2026 2025 Diluted Earnings per Share $ 1.02 $ 0.98 $ 1.69 $ 1.56 Acquisition and integration-related costs(1) 0.01 — 0.04 0.09 Litigation-related (settlements) costs(2) — 0.05 — — Loss on impairments(3) — — — — Restructuring and other costs(4) 0.01 — 0.02 0.01 Spin-off and separation-related costs(5) 0.01 0.02 0.03 0.06 Adjusted Diluted Earnings per Share $ 1.05 $ 1.05 $ 1.78 $ 1.72 (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professional fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (2) Litigation-related settlements (costs) include certain litigation settlements, environmental remediation, and legal-related consulting and professional fees that are not representative of expenses arising in the ordinary course of business. (3) Loss on impairments consists of one-time charges on the company’s investments and property, plant, and equipment. (4) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (5) Spin-off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts. For the U.S. GAAP to Adjusted diluted earnings per share reconciliation adjusted items are shown net of tax in aggregate of $5 million and $12 million for the three months ended September 30, 2026 and 2025, respectively, and in aggregate of $16 million and $27 million for the nine months ended September 30, 2026 and 2025, respectively, based on applying the statutory tax rate for the jurisdictions in which the adjustment occurred or, by adjusting the tax effect to consider the impact of applying an annual effective tax rate on an interim basis. For purposes of reconciling adjusted diluted earnings per share with respect to taxes period-over-period, the company utilizes a “rate approach” to highlight the impact of the adjusted tax rate. It is computed by multiplying the prior period adjusted rate by the current period adjusted income before taxes to determine the expected tax expense. Such expected tax expense is then compared to actual tax expense. Expected tax in excess of actual tax variance is favorable; actual tax in excess of expected tax variance is unfavorable. The variance divided by diluted shares outstanding at the end of the period yields the impact on earnings per share. Management believes the use of this measure best aids in explaining the impact of a changing tax rate. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 15
Q3 2026 EARNINGS PRESENTATION Jan Jenisch, Chairman and CEO Samuel Poletti, CFO October 29, 2026
2 SAFE HARBOR STATEMENT FORWARD-LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES Certain statements in this presentation may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding expected cost savings, future financial targets, business strategies, management’s views with respect to future events and financial performance, and the assumptions underlying such expected cost savings, targets, strategies, and statements. Forward-looking statements include those preceded by, followed by or that include the words such as “may,” “will,” “could,” “should,” “might,” “projects,” “expects,” “believes,” “anticipates,” “intends,” “plans,” “continue,” “estimate,” or “pursue,” or similar expressions, or the negative or other variations thereof or comparable terms. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the effect of political, economic and market conditions and geopolitical events; the level of demand in the construction industry; the cyclicality of the industries and businesses in which our customers operate; changes in the cost and/or availability of raw materials required to run our business; energy and fuel costs; adverse weather conditions and natural disasters; the logistical and other challenges inherent in our operations; the actions and initiatives of current and potential competitors; the level and volatility of, interest rates and other market indices; the ability of Amrize to realize the expected synergies for our acquisitions; the ability of Amrize to achieve margin expansion goals; the ability of Amrize to maintain satisfactory credit ratings; the outcome of pending litigation or future litigation; the impact of current, pending and future legislation and regulation; factors related to the failure of Amrize to achieve some or all of the expected strategic benefits or opportunities expected from the separation from Holcim Ltd (“Holcim”); material costs and expenses as a result of the separation from Holcim; our limited history operating as an independent, publicly traded company; our obligation to indemnify Holcim pursuant to the agreements entered into in connection with the separation and the risk Holcim may not fulfill any obligations to indemnify Amrize under such agreements; that under applicable tax law, Amrize may be liable for certain tax liabilities of Holcim following the separation if Holcim were to fail to pay such taxes; the fact that Amrize may receive worse commercial terms from third-parties for services it used to receive from Holcim prior to the separation; the fact that certain of Amrize's executive officers and directors may have actual or potential conflicts of interest because of their previous positions at Holcim; and potential difficulties in maintaining relationships with key personnel; and other factors which can be found in Amrize’s media releases and Amrize’s filings with the SEC. These statements are not guarantees of future performance and are subject to future events, risks and uncertainties – many of which are beyond our control, dependent on the actions of third parties, or currently unknown to us – as well as potentially inaccurate assumptions that could cause actual results to differ materially from our historical experience and our expectations and projections. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise. You are advised, however, to review any further disclosures we make on related subjects in our filings with the Securities and Exchange Commission and in our other public statements. Amrize reports its financial results in accordance with accounting principles generally accepted in the United States (“GAAP”). We have supplemented the reporting of our financial information determined in accordance with GAAP with certain Non-GAAP (or adjusted) financial measures, including Adjusted EBITDA, Adjusted EBITDA Margin, Segment Adjusted EBITDA, Segment Adjusted EBITDA Margin and Net Leverage Ratio. Reconciliations of Non-GAAP measures used in this presentation to the most directly comparable U.S. GAAP measures are included below under “Appendix.” We believe these adjusted financial measures facilitate analysis and comparisons of our ongoing business operations because they exclude items that may not be indicative of, or are unrelated to, the Company’s and our business segments’ core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying businesses. These adjustments are consistent with how management views our businesses. Management uses these Non- GAAP financial measures in making financial, operating and planning decisions, and evaluating Amrize’s and each business segment’s ongoing performance. Note that the definitions of these Non-GAAP financial measures may differ from those terms as defined or used by other companies. This presentation should be reviewed in conjunction with our third quarter fiscal 2026 earnings release and webcast of the earnings presentation conference call, which are available on Amrize’s website at investors.amrize.com.
3 Winthrop Center, Boston, MA Amrize inside Q3 2026 HIGHLIGHTS Jan Jenisch, Chairman and CEO
4 Q3 2026 HIGHLIGHTS RESILIENT RESULTS DRIVEN BY PRICING; MARGIN EXPANSION IN BUILDING MATERIALS 1 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statement. See details in the Appendix of this presentation and additional information in 'Revision of Prior Period Financial Statements’ in our earnings release. 2 See appendix for Non-GAAP reconciliation. 3 Includes $44M of unallocated corporate costs in Q3 2026 compared to $52M in Q3 2025. 4 Year to Date as of September 30, 2026 5 The dividend will be made in the form of distributions paid out of legal reserves from capital contributions and are not subject to Swiss withholding tax. The dividend is the third installment of the annual dividend of up to $0.44 per share approved at the company's Annual General Meeting. $2,842M Revenues +1.8% vs. Q3 20251 $938M Adjusted EBITDA2 +2.7% vs. Q3 20251 $929M Revenues +3.6% vs. Q3 20251 $182M Adjusted EBITDA2 -14.6% vs. Q3 20251 Building Materials Building Envelope $3,771M Revenues +2.2% vs. Q3 20251 $1,076M Adjusted EBITDA2 +0.2% vs. Q3 20251,3 Amrize $262M Q3 Capex Expect ~ $900M in FY 2026 Acquired July 31, 2026 EPS accretive in 2026 Investing for Growth $558M Net Income +3.3% vs. Q3 20251 $1.05 Adjusted Diluted EPS2 Flat vs. Q3 20251 $1.02 Diluted EPS +4.1% vs. Q3 20251 $1.11B Share Repurchase & Dividends in YTD 20264 $0.11/share Third Quarterly Dividend To be paid on Nov 18, 20265 Cash Returned to Shareholders Rapid Redi-Mix
5 Commercial 51% Revenues1 Infrastructure 28% Revenues1 Residential 21% Revenues1 MARKET TRENDS WEATHER IMPACTS OFFSETTING SOLID UNDERLYING DEMAND 1 % of 2025 total revenues. Outlook • Elevated interest rate environment could weigh on volumes in the near-term • Strong medium to long-term momentum for multi-year, mega projects, particularly data centers and energy projects; Amrize scale and network well positioned Q3 2026 • Softer demand impacted by weather in the Northeast, South and Central regions • Continued mega project demand; positive momentum in commercial roofing as projects that broke ground in Q3 2025 with building materials converting to roofing opportunities Outlook • Significant IIJA funding still to be spent; extension provides a bridge to successor bill expected to drive infrastructure tailwind • Expect continued spend to address aging infrastructure Outlook • Expect normal seasonal de-stocking patterns to weigh on Q4 shingle demand; long-term stability from re- roofing remains intact • U.S. housing shortage to drive long-term growth Q3 2026 • Higher interest rates and affordability challenges continue to limit new residential construction • Lack of significant storms and sluggish existing-home sales driving lower re-roofing demand Q3 2026 • Softer demand impacted by weather in the Northeast, South and Central regions • State and federal funding continue to support steady multi-year projects
6 PARTNER OF CHOICE FOR PROFESSIONAL BUILDERS ROBUST PIPELINE OF CUSTOMER PROJECTS New Data Center, North Dakota Key supplier of building materials & Elevate advanced roofing systems DATA CENTERS AI Data Center Complex with Integrated Power Plant, Texas Key supplier of building materials DATA CENTERS WATER INFRASTRUCTURE Comite River Diversion, Louisiana Key supplier of building materials Highway 5/6 Interchange, Ontario Key supplier of building materials HIGHWAY INFRASTRUCTURE Freezer Facility, Washington Advanced roofing systems with Elevate UltraPly TPO COLD STORAGE PUBLIC INSTITUTIONS Celina High School, Ohio Advanced roofing systems with Elevate MAX PVC
7 Accelerating Synergies and Partnerships for Impact and REsults ASPIRE PROGRAM ON TRACK $73 MILLION IN SAVINGS DELIVERED YTD 2026 ✓ $73M in savings delivered YTD 20261 ✓ Executing projects with cost savings across raw materials, services, logistics and equipment; ~1,000 suppliers onboarded in 2026 ✓ Success stories include optimized vendor mix for raw materials, services and quarry equipment; leveraging our economies of scale in logistics for both segments ✓ On track to achieve ~$80M of savings in 2026 ✓ On track to achieve $250M of savings through 2028 1 Year to Date as of September 30, 2026
8 CAPITAL ALLOCATION INVESTING FOR GROWTH THROUGH CAPEX AND M&A Delivering Value-Accretive M&A • Strengthening footprint in high-growth Texas market with acquisitions of PB Materials and Rapid Redi-Mix • Significant synergies; Adjusted EPS accretive in 2026 • Strong contribution of $77M to Q3 2026 revenues Rapid Redi-Mix operational sites PB Materials operational sites Amrize operational sites Amrize cement terminals Amrize cement plants • Strengthening Texas footprint with acquisitions of PB Materials in West Texas and Rapid Redi-Mix in Dallas-Fort Worth • Significant synergies achieved YTD; EPS accretive in 2026 • Strong contribution of $77M to Q3 2026 revenues; results outperformed expectations Executing Growth Projects • Invested $262M in Capex in Q3 2026 • On track for ~$900M of Capex in 2026 • Advancing key organic growth projects: Malarkey Shingles Plant, IndianaMidlothian Cement Plant, Texas ✓ Midlothian cement plant in Texas ✓ Exshaw cement plant in Alberta ✓ St. Constant cement plant in Quebec ✓ Aggregates quarry expansions with 6 projects across North America, adding 150M+ tons of reserves ✓ Cement terminal expansions in Memphis, Kansas City, Cincinnati, Columbus, Lubbock ✓ Malarkey shingles plant in Indiana
9 CAPITAL ALLOCATION $1.11 BILLION OF CASH RETURNED TO SHAREHOLDERS YTD 2026 $750M Shares Repurchased in YTD 20261 $0.11/share Third Quarterly Dividend3 $364M Dividends Paid in YTD 20261 Dividends paid out of capital contribution reserves and will not be subject to Swiss withholding tax 1 Year to Date as of September 30, 2026 2 Volume-Weighted Average Price 3 Dividends approved at the Company's Annual General Meeting. ✓ $1.0B share repurchase program launched in May 2026 with 12-month expiration ✓ Accelerated execution of share repurchases in Q3; average purchase price outperforming the VWAP2 ✓ $244M for special one-time dividend; paid May 4, 2026 ✓ $61M for Q1 2026 dividend of $0.11/share; paid May 20, 2026 ✓ $60M for Q2 2026 dividend of $0.11/share; paid Aug 26, 2026 ✓ Board declared Q3 2026 dividend of $0.11/share ✓ To be paid November 18, 2026 Execution of the $1.0B program was completed on October 28, 2026
10 Logistics center, Toronto, ON Amrize inside Q3 2026 RESULTS Samuel Poletti, CFO
11 AMRIZE Q3 2026 REVENUE BRIDGE REVENUES GREW 2.2% ON POSITIVE PRICE MOMENTUM & ACQUISITIONS Q3 2025 Revenues1 Volume Price Surcharges M&A FX/Other Q3 2026 Revenues +2.2% 1 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statement. See details in the Appendix of this presentation and additional information in 'Revision of Prior Period Financial Statements’ in our earnings release. 2 Cement volume and pricing figures presented above exclude trading. Aggregates pricing figures presented above are product based, excluding freight revenues. Cement and aggregates pricing figures presented above are constant currency, which reflects price adjusted to prior period foreign exchange rates • Revenues grew 2.2% driven by pricing growth and strong contribution from acquisitions, partially offset by lower volumes • Successful pricing implemented across Building Materials and Building Envelope • Successful implementation of energy and freight related surcharges to mitigate cost inflation • Softer cement and aggregates volumes2 impacted by weather. Commercial roofing volumes remained strong, shingles volumes impacted by lower demand • Strong contribution of $77M by PB Materials and Rapid Redi-Mix; results outperformed expectations $3,690M $3,722M $3,771M ($69M) $78M $23M $77M ($28M) 1 2 3 4 5 6 7 Totals may not sum due to rounding.
12 +0.2% Q3 2025 Adjusted EBITDA1,2 Volume Price Surcharges ASPIRE Costs M&A/FX Q3 2026 Adjusted EBITDA2 AMRIZE Q3 2026 EBITDA BRIDGE RESILIENT EBITDA SUPPORTED BY POSITIVE PRICING AND ASPIRE SAVINGS 1 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statement. See details in the Appendix of this presentation and additional information in 'Revision of Prior Period Financial Statements’ in our earnings release. 2 See appendix for Non-GAAP reconciliation. $1,074M $1,063M $1,076M ($38M) $78M $23M $23M ($97M) $14M 1 2 3 4 5 6 7 8 Primarily oil price driven cost inflation impacting freight, diesel and raw materials costs Totals may not sum due to rounding.
13 BUILDING MATERIALS Q3 2026 RESULTS ADJUSTED EBITDA MARGIN EXPANSION LED BY PRICING GROWTH 1 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statement. See details in the Appendix of this presentation and additional information in 'Revision of Prior Period Financial Statements’ in our earnings release. 2 See appendix for Non-GAAP reconciliation. 3 Cement volume and pricing figures presented above exclude trading. Aggregates pricing figures presented above are product based, excluding freight revenues. Cement and aggregates pricing figures presented above are constant currency, which reflects price adjusted to prior period foreign exchange rates $2,793M $2,842M Q3 2025 Q3 2026 $913M $938M Q3 2025 Q3 2026 Adjusted EBITDA1,2Revenues1 +1.8% +2.7% • Revenues grew 1.8% driven by pricing growth across all business lines and contributions from acquisitions • Cement pricing3 increased 1.8% and aggregates pricing3 grew 6.9%. Energy surcharges for cement, fuel and freight surcharges implemented across other business lines were addition to pricing growth in the quarter • Cement volumes3 were 4.2% lower and aggregates volumes3 were down 0.2% impacted by weather in the Northeast, South and Central regions; offset by steady state and federally funded multi-year projects • Segment Adjusted EBITDA grew 2.7% led by pricing and acquisitions; implemented surcharges partially offset the higher costs • Segment Adjusted EBITDA margin expansion of 30bps in Q3 2026
14 BUILDING ENVELOPE Q3 2026 RESULTS REVENUES GREW 3.6% ON POSITIVE COMMERCIAL ROOFING MOMENTUM $897M $929M Q3 2025 Q3 2026 $213M $182M Q3 2025 Q3 2026 1 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statement. See details in the Appendix of this presentation and additional information in 'Revision of Prior Period Financial Statements’ in our earnings release. 2 See appendix for Non-GAAP reconciliation. Adjusted EBITDA1,2Revenues1 +3.6% -14.6% • Revenues up 3.6% driven by momentum in commercial roofing; positive price traction across commercial roofing and shingles • Commercial roofing volumes remained strong, led by expanded system sales, large-scale data centers and industrial projects; resilient re-roofing demand • Shingle volumes impacted by lack of significant storms and sluggish existing-home sales, driving lower re-roofing demand • Pricing improved year over year and sequentially, as increases phased in through the quarter; fuel and freight surcharges were addition to pricing growth in the quarter • Segment Adjusted EBITDA decline driven by higher freight, raw material costs and lower shingles volumes, partially offset by pricing, fuel and freight surcharges
15 BALANCE SHEET FLEXIBILITY TO INVEST FOR GROWTH & RETURN CASH TO SHAREHOLDERS 1 See appendix for Non-GAAP reconciliation. 2 Represents $1.096B undrawn portion of the Commercial Paper Program, undrawn $2.0B Revolving Credit Facility and $299M Cash & Cash Equivalents as of September 30, 2026. 1.8x Net Leverage Ratio1 Balance Sheet as of September 30, 2026 Baa1 / BBB+ Moody’s / Standard & Poor’s 6.2 years Weighted Average Debt Maturity 5.1% Weighted Average Interest Rate $299M Cash & Cash Equivalents $3.4B Total Available Liquidity2 Investment Grade Credit Ratings
16 2026 GUIDANCE MIXED OUTLOOK FOR Q4 2026 InfrastructureCommercial Residential BUILDING MATERIALS ASPIRE PROGRAMBUILDING ENVELOPE ✓ Expect normal seasonal de-stocking patterns to weigh on Q4 shingle demand; long-term stability from re-roofing remains intact ✓ U.S. housing shortage to drive long-term growth ✓ Significant IIJA funding still to be spent; extension provides a bridge to successor bill expected to drive infrastructure tailwind ✓ Expect continued spend to address aging infrastructure ✓ Elevated interest rate environment could weigh on volumes in the near-term ✓ Significant medium to long-term momentum for mega-projects, particularly data centers and energy with multi-year runtime; scope and scale of Amrize footprint offer competitive advantage ✓ Cement1: pricing flat to up low-single digits ✓ Aggregates1: pricing up mid-single digits ✓ Elevated interest rates could drive softer Q4 volumes ✓ Continuing to implement pricing actions and energy/fuel/freight surcharges to offset inflation ✓ Price-cost expected to be positive in Q4 20262 ✓ Roofing markets to remain mixed with resilient Commercial volumes offset by weather-related challenges and sluggish existing-home sales in Residential ✓ Continuing to implement pricing actions and fuel/freight surcharges to partially offset inflation ✓ Q4 2026 price-cost expected to improve vs. Q3 2026 ✓ $73M in savings delivered YTD 2026 ✓ On track to deliver ~$80M of savings in 2026 OTHER ✓ $36M net insurance benefit from Q4 2025 for Building Materials 1 2026 cement and aggregates pricing assumptions exclude fuel surcharges. Aggregates pricing assumption are product based, excluding freight revenues 2 Exclude $36M net insurance benefit from Q4 2025
17 UPDATED 2026 GUIDANCE Revenues $12.2B - $12.4B Adjusted EBITDA $2.95B - $3.05B The Company provides forward-looking guidance regarding Adjusted EBITDA. The Company cannot, without unreasonable effort, forecast certain items required to develop meaningful comparable GAAP financial measures. These items include acquisition and integration costs, litigation costs, restructuring, foreign exchange rate changes, as well as other non-cash and unusual items that are difficult to predict in advance to include in a GAAP estimate. For the same reasons, the Company is unable to address the probable significance of the items.
18 One World Trade Center, New York, NY Amrize inside APPENDIX
19 ACCOUNTING REVISION – Q3 2025 CONSOLIDATED INCOME STATEMENT Totals may not sum due to rounding. Amrize Ltd For the three months ended September 30, 2025 (in millions, except for earnings per share) As Reported Adj As Revised Revenues $ 3,675 $ 15 $ 3,690 Cost of revenues (2,589) (9) (2,598) Gross profit 1,086 6 1,092 Selling, general and administrative expenses (312) (1) (313) Gain on disposal of long-lived assets 4 0 4 Loss on impairments 0 0 0 Operating income 778 5 783 Interest expense, net (89) 0 (89) Other non-operating income, net 0 0 0 Income before income tax expense 689 5 694 Income tax expense (150) (8) (158) Income from equity method investments 4 0 4 Net income 543 (3) 540 Net loss attributable to noncontrolling interests 2 0 2 Net income attributable to the Company $ 545 $ (3) $ 542 Earnings per share attributable to the Company: Basic $ 0.99 $ (0.01) $ 0.98 Diluted $ 0.98 $ - $ 0.98 Weighted-average number of shares outstanding: Basic 553.1 - 553.1 Diluted 553.9 - 553.9
20 ACCOUNTING REVISION – Q3 2025 ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN RECONCILIATION Totals may not sum due to rounding. (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professional fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (2) Litigation-related settlements (costs) include certain litigation settlements, environmental remediation, and legal-related consulting and professional fees that are not representative of expenses arising in the ordinary course of business. (3) Loss on impairments consists of one-time charges on the company’s investments and property, plant, and equipment. (4) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (5) Spin-Off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes- Oxley implementation efforts. (6) Other non-operating income, net primarily consists of costs related to gains on proceeds from property and casualty insurance. Amrize Ltd For the three months ended September 30, 2025 (In millions, except for percentage data) As Reported Adj As Revised Net income $ 543 $ (3) $ 540 Depreciation, depletion, accretion and amortization 231 8 239 Interest expense, net 89 0 89 Income tax expense 150 8 158 EBITDA 1,013 13 1,026 Acquisition and integration-related costs(1) 4 (6) (2) Litigation-related (settlements) costs(2) 40 0 40 Loss on impairments(3) 0 0 0 Restructuring and other costs(4) 4 0 4 Spin-off and separation-related costs(5) 10 0 10 Other non-operating income, net(6) 0 0 0 Income from equity method investments (4) 0 (4) Adjusted EBITDA 1,067 7 1,074 Unallocated corporate costs 52 0 52 Total Segment Adjusted EBITDA $ 1,119 $ 7 $ 1,126 Building Materials $ 902 $ 11 $ 913 Building Envelope $ 217 $ (4) $ 213 Net income margin 14.8% -0.02% 14.6% EBITDA Margin 27.6% 0.02% 27.8% Adjusted EBITDA Margin 29.0% 0.01% 29.1%
21 RECONCILIATION OF ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN Totals may not sum due to rounding. (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professional fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (2) Litigation-related settlements (costs) include certain litigation settlements, environmental remediation, and legal-related consulting and professional fees that are not representative of expenses arising in the ordinary course of business. (3) Loss on impairments consists of one-time charges on the company’s investments and property, plant, and equipment. (4) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (5) Spin-Off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts. (6) Other non-operating income, net primarily consists of costs related to gains on proceeds from property and casualty insurance. Amrize Ltd For the three months ended September 30, ($ in millions, except for percentage data) 2026 2025 Net income $ 558 $ 540 Depreciation, depletion, accretion and amortization 263 239 Interest expense, net 89 89 Income tax expense 153 158 EBITDA 1,063 1,026 Acquisition and integration-related costs(1) 4 (2) Litigation-related (settlements) costs(2) 1 40 Loss on impairments(3) 0 0 Restructuring and other costs(4) 7 4 Spin-off and separation-related costs(5) 8 10 Other non-operating income, net(6) (2) 0 Income from equity method investments (5) (4) Adjusted EBITDA 1,076 1,074 Unallocated corporate costs 44 52 Total Segment Adjusted EBITDA $ 1,120 $ 1,126 Building Materials $ 938 $ 913 Building Envelope $ 182 $ 213 Net income margin 14.8 % 14.6 % EBITDA Margin 28.2 % 27.8 % Adjusted EBITDA Margin 28.5 % 29.1 %
22 RECONCILIATION OF ADJUSTED DILUTED EARNING PER SHARE Totals may not sum due to rounding. (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professional fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (2) Litigation-related settlements (costs) include certain litigation settlements, environmental remediation, and legal-related consulting and professional fees that are not representative of expenses arising in the ordinary course of business. (3) Loss on impairments consists of one-time charges on the company’s investments and property, plant, and equipment. (4) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (5) Spin-Off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts. Amrize Ltd For the three months ended September 30, 2026 2025 Diluted Earnings per Share $ 1.02 $ 0.98 Acquisition and integration-related costs(1) 0.01 - Litigation-related (settlements) costs(2) - 0.05 Loss on impairments(3) - - Restructuring and other costs(4) 0.01 - Spin-off and separation-related costs(5) 0.01 0.02 Adjusted Diluted Earnings per Share $ 1.05 $ 1.05
23 RECONCILIATION OF NET DEBT AND NET LEVERAGE RATIO Totals may not sum due to rounding. (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professional fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (2) Litigation-related settlements (costs) include certain litigation settlements, environmental remediation, and legal-related consulting and professional fees that are not representative of expenses arising in the ordinary course of business. (3) Loss on impairments consists of one-time charges on the company’s investments and property, plant, and equipment. (4) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (5) Spin-Off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts. (6) Other non-operating income, net primarily consists of costs related to gains on proceeds from property and casualty insurance. Amrize Ltd For the trailing twelve months ended ($ in millions) September 30, 2026 Net income $ 1,225 Depreciation, depletion, accretion and amortization 1,001 Interest expense, net 341 Income tax expense 358 EBITDA 2,925 Acquisition and integration-related costs(1) 61 Litigation-related costs(2) - Loss on impairments(3) 15 Restructuring and other costs(4) 22 Spin-off and separation-related costs(5) 26 Other non-operating income, net(6) (5) Income from equity method investments (12) Adjusted EBITDA $ 3,032 As of September 30, 2026 Short-term borrowings $ 904 Current portion of long-term debt 708 Long-term debt 4,236 Gross Debt 5,848 Less: Cash and cash equivalents 299 Net Debt $ 5,549 As of September 30, 2026 Net Leverage Ratio 1.8x
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