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Amrize (AMRZ) lifts Q2 profit, revises 2026 revenue and EBITDA targets

(High)
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Amrize Ltd reported strong second-quarter 2026 results, with revenues of $3,494 million, up 8.6% year over year, and net income of $476 million, up 14.4%. Adjusted EBITDA was $986 million, up 5.8%, while diluted EPS rose 14.7% to $0.86 and adjusted diluted EPS increased 8.6% to $0.88.

Growth was driven by higher cement and aggregates volumes, pricing and acquisitions, partly offset by oil price driven inflation in freight, diesel and raw materials. Amrize returned $502 million to shareholders through buybacks and dividends and invested $241 million of capex in the quarter. For 2026, it guides revenues of $12.5–$12.7 billion and Adjusted EBITDA of $3.1–$3.2 billion, with about $900 million of capex and a 23–25% adjusted tax rate. Net debt was $5,275 million at June 30, 2026, a net leverage ratio of 1.7x. Amrize also identified prior-period misstatements, mainly an understatement of deferred revenue on extended warranties of $78 million at December 31, 2025 and $76 million at March 31, 2026; it determined these were not material to previously issued financial statements and has revised affected 2025 and early 2026 periods.

Positive

  • Q2 2026 financial performance was strong, with revenues of $3,494 million (+8.6%), net income of $476 million (+14.4%), diluted EPS of $0.86 (+14.7%) and Adjusted EBITDA of $986 million (+5.8%) versus Q2 2025.
  • Full-year 2026 outlook was updated with higher scale, as Amrize now targets revenues of $12.5–$12.7 billion and Adjusted EBITDA of $3.1–$3.2 billion, supported by strong demand and an expected $80 million of ASPIRE cost savings in 2026.

Negative

  • Prior-period financial misstatements required revisions, including an understatement of extended-warranty deferred revenue of $78 million at December 31, 2025 and $76 million at March 31, 2026, leading to revised 2025 and early 2026 financial statements.
  • Cash generation was weak in the first half of 2026, with net cash used in operating activities of $475 million and Free Cash Flow a use of $986 million, driven mainly by higher working capital and growth-oriented capital expenditures.

Filing Explained

At June 30, Amrize had $729 million cash against $6.004 billion gross debt; revised historical figures await fuller detail in the August 10 Form 10-Q.

This August 6 Form 8-K is a material-event report furnishing Amrize’s second-quarter results and revisions to earlier financial periods. The filing is current, but further detail on those revisions is expected in the next Form 10-Q.

At June 30, the company reported $729 million of cash and $6.004 billion of gross debt, alongside reported net debt of $5.275 billion. The balance-sheet disclosure therefore gives holders the underlying cash-and-debt amounts, not just the net figure.

Amrize says the identified misstatements were not material to previously issued financial statements, but correcting them would be material to second-quarter, first-half, and forecast full-year 2026 results. Exhibit 99.3 presents the revised periods, while the company expects the Form 10-Q by August 10, 2026.

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, and exhibit attachments filed with this report.
Q2 2026 Revenue $3,494 million Revenues for the three months ended June 30, 2026, up 8.6% year over year
Q2 2026 Net Income $476 million Net income for the three months ended June 30, 2026, up 14.4% vs Q2 2025
Q2 2026 Adjusted EBITDA $986 million Adjusted EBITDA for the three months ended June 30, 2026, up 5.8%
Q2 2026 Diluted EPS $0.86 Diluted earnings per share for the three months ended June 30, 2026, up 14.7%
2026 Revenue Guidance $12.5–$12.7 billion Full year 2026 revenues expected based on company guidance
2026 Adjusted EBITDA Guidance $3.1–$3.2 billion Full year 2026 Adjusted EBITDA range provided by the company
Net Debt $5,275 million Net debt as of June 30, 2026 (gross debt less cash and cash equivalents)
Free Cash Flow H1 2026 $(986) million Free Cash Flow use for the six months ended June 30, 2026
Adjusted EBITDA financial
"Adjusted EBITDA was $986 million for the second quarter of 2026 compared to $932 million"
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 was a use of $986 million for the six months ended June 30, 2026"
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 as of June 30, 2026 was 1.7x"
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.
deferred revenue financial
"The most significant misstatement relates to an understatement of deferred revenue associated with extended warranty"
Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.
Non-GAAP financial measures financial
"This media release contains certain financial measures of historical performance and financial positions that are not prepared in accordance with U.S. GAAP"
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
ASPIRE program financial
"Our ASPIRE program is building momentum and on track to deliver savings through the year"
Revenue $3,494 million +8.6% vs Q2 2025
Net Income $476 million +14.4% vs Q2 2025
Diluted EPS $0.86 +14.7% vs Q2 2025
Adjusted EBITDA $986 million +5.8% vs Q2 2025
Adjusted Diluted EPS $0.88 +8.6% vs Q2 2025
Guidance

For full year 2026, Amrize expects revenues of $12.5–$12.7 billion and Adjusted EBITDA of $3.1–$3.2 billion, with about $900 million of capital expenditures and an adjusted effective tax rate of 23–25%.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What were Amrize (AMRZ) Q2 2026 revenues and earnings?

Amrize reported Q2 2026 revenues of $3,494 million, up 8.6% year over year, and net income of $476 million, up 14.4%. Adjusted EBITDA was $986 million, an increase of 5.8%, and diluted EPS rose to $0.86, with adjusted diluted EPS at $0.88.

How did Amrize (AMRZ) update its full-year 2026 financial guidance?

For 2026, Amrize now expects revenues of $12.5–$12.7 billion and Adjusted EBITDA of $3.1–$3.2 billion. Guidance assumes about $900 million of capital expenditures, net interest expense of roughly $340 million and an adjusted effective tax rate of 23–25%.

How much cash did Amrize (AMRZ) return to shareholders in Q2 2026?

Amrize returned $502 million to shareholders in Q2 2026. This included $197 million of share repurchases under a $1.0 billion buyback program and $305 million of dividends, covering a special $0.44 per share dividend and a regular quarterly dividend of $0.11 per share.

What is Amrize (AMRZ)’s debt and leverage position after Q2 2026?

At June 30, 2026, Amrize reported gross debt of $6,004 million and cash of $729 million, resulting in net debt of $5,275 million. Using trailing 12‑month Adjusted EBITDA of $3,024 million, the company’s net leverage ratio was 1.7x.

Why did Amrize (AMRZ) revise prior-period financial statements?

Amrize identified prior-period misstatements, mainly an understatement of deferred revenue on extended warranties from 2022–2023 acquisitions. Deferred revenue was understated by $78 million at December 31, 2025 and $76 million at March 31, 2026, prompting revisions of affected 2025 and early 2026 periods.

How did Amrize (AMRZ)’s Building Materials and Building Envelope segments perform in Q2 2026?

In Q2 2026, Building Materials revenues rose to $2,445 million (+8.2%) with Segment Adjusted EBITDA of $793 million (+5.2%). Building Envelope revenues grew to $1,049 million (+9.4%), while Segment Adjusted EBITDA declined to $237 million (‑5.2%) due to higher freight and raw materials costs.
FALSE000203598900020359892026-08-062026-08-06

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

August 6, 2026
Date of Report (date of earliest event reported)
___________________________________
Amrize Ltd
(Exact name of registrant as specified in its charter)
___________________________________

Switzerland
(State or other jurisdiction of
incorporation or organization)
1-42542
(Commission File Number)
98-1807904
(I.R.S. Employer Identification Number)
Grafenauweg 8,
Zug 6300
(Address of principal executive offices and zip code)
+41 41 562 3490
(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
Name of each exchange on which registered
Ordinary Shares, par value $0.01 per share
AMRZ
New York Stock Exchange
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 August 6, 2026, Amrize Ltd (the "Company") issued a press release announcing its financial results for the quarter ended June 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.
Revision of Prior Period Financial Statements

During the three and six months ended June 30, 2026, the Company identified prior period misstatements. In evaluating these misstatements together with previously identified uncorrected misstatements, the Company concluded that, while the aggregate misstatements were not material to any previously issued consolidated financial statements, correcting them in the current period would have been material to the Company's consolidated results of operations for the three and six months ended June 30, 2026 and would be material to the Company's forecasted consolidated results of operations for the year ended December 31, 2026. To supplement the information in the press release, the Company has prepared Exhibit 99.3 showing the revisions of prior period financial results. The information included herein and in Exhibits 99.1 and 99.3, 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 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. To supplement the information in the investor presentation, the Company has prepared Exhibit 99.3 showing the revisions of prior period financial results.

The information included herein and in Exhibits 99.2 and 99.3, 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)

Exhibit No.
Description
99.1
Press release dated August 6, 2026
99.2
Investor presentation dated August 6, 2026
99.3
Revision of Prior Period Financial Statements
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/ Baris Oran
Name:
Baris Oran
Title:
Chief Financial Officer
Date:
August 6, 2026

Amrize Reports Second Quarter 2026 Results • Revenues up 8.6% with organic growth of 6.7% on strong demand and pricing • Net Income increased 14.4% to $476 million and Adjusted EBITDA grew 5.8% to $986 million • Diluted Earnings Per Share increased 14.7% and Adjusted Diluted Earnings Per Share grew 8.6% • $502 million returned to shareholders through share repurchases and dividends • Raised FY Revenues guidance on demand; Revised Adjusted EBITDA on oil price driven cost inflation CHICAGO/ZUG, Switzerland, August 6, 2026 – Amrize (AMRZ) announced today its second quarter 2026 financial results1. Jan Jenisch, Chairman and CEO: "We delivered strong revenue growth of 8.6% in the second quarter driven by increased mega-project demand from data centers and energy to advanced manufacturing plants and infrastructure modernization. With the strength of our network and strategic footprint in the most attractive markets, we were able to achieve industry-leading organic growth of 6.7%. We also grew Net Income by 14.4% and Adjusted EBITDA by 5.8% with strong customer demand, continued aggregates pricing growth and ASPIRE savings. Oil price driven cost inflation drove higher freight, diesel and raw materials costs, which we are proactively managing with pricing, fuel surcharges and ASPIRE. In our Building Materials business, we had a strong quarter with above-market volume growth, premium cement pricing and leading aggregates pricing growth. Our Building Envelope business achieved above- market sales momentum, driven by a strong pipeline of large-scale commercial projects and growth in residential roofing. Segment pricing improved sequentially as increases phased in throughout the quarter. We continue to invest for profitable growth with Capex and M&A. We invested $241 million in Capex in the quarter as we expand production and improve efficiency to best serve customers. We had excellent contributions from PB Materials, our recently acquired aggregates business in West Texas, and in July, we acquired Rapid Redi-Mix, bringing significant synergies with our cement and aggregates network in Texas. Looking to the back half of the year, we expect continued strong pricing for cement and aggregates. Additionally, we expect roofing price over cost to improve as the year progresses. Our ASPIRE program is building momentum and on track to deliver savings through the year. We expect strong demand and pricing to increase full year revenue, while oil price driven cost inflation will be a headwind to earnings. We remain well positioned to capitalize on growing demand while strengthening operational efficiency to deliver long term, profitable growth. I thank our over 19,000 empowered Amrize teammates for a strong quarter as we deliver for our customers as the partner of choice." Shareholder Return Amrize returned $502 million to shareholders in the second quarter. The company launched its $1 billion share buyback program and repurchased $197 million2 worth of Amrize shares in the second quarter. Amrize paid $305 million3 of dividends including the special dividend for 2025 of $0.44 per share on May 4, 2026, and the first quarter dividend of $0.11 per share on May 20, 2026. The Amrize Board of Directors declared a dividend of $0.11 per share for the second quarter to be paid on August 26, 2026. The last trading day with entitlement to receive the quarterly dividend, known as the cum-dividend date, is August 17, 2026. The shares will be traded ex-dividend on August 18, 2026, which is also the record date. Dividends are paid out of capital contribution reserves4 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 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026. 2 Share repurchases executed in the second quarter of 2026 include withholding taxes that will be paid in the third quarter of 2026. 3 Includes $1 million accrued for dividends on unvested share-based compensation to be paid upon vesting. 4 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 second 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 Guidance5 Amrize is updating its FY 2026 financial guidance reflecting increased demand and oil price driven cost inflation. Building Materials had a good first half of the year with strong revenue growth and 8.4% growth in Adjusted EBITDA. For the full year, we continue to expect volume growth in cement and aggregates. The company now expects cement pricing to be flat or up low single digits, and continues to expect aggregates pricing to be up mid-single digits on a freight adjusted basis. Building Envelope improved revenue and operational performance as the first half of the year progressed. The company continues to expect low-single digit growth in commercial roofing volumes and now expects high single digit volume growth in residential roofing for the full year. Price increases are phasing in across the Building Envelope portfolio and we expect second half price-cost to improve compared to the first half of the year. Amrize is making good progress with its ASPIRE program and expects to achieve $80 million of savings in 2026. Across both businesses, additional price increases are expected to be realized in the second half of the year. The timing difference between price realization and oil price driven cost inflation is expected to affect Full Year company earnings. Based on these drivers, Amrize is updating its 2026 financial guidance as follows: Revenues $12.5 billion to $12.7 billion Adjusted EBITDA $3.1 billion to $3.2 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 5 Amrize (Company) provides forward-looking guidance regarding Adjusted EBITDA. The Company 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 (expense) 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, the Company is unable to address the probable significance of the items.


 

Amrize Consolidated Results (Unaudited) For the three months For the six months ended June 30, ended June 30, $ in millions, except per share data 2026 20256 % Change 20266 20256 % Change Revenues $ 3,494 $ 3,218 8.6% $ 5,675 $ 5,307 6.9% Net income $ 476 $ 416 +14.4% $ 369 $ 322 +14.6% Net income margin 13.6% 12.9% +70bps 6.5% 6.1% +40bps Adjusted EBITDA7 $ 986 $ 932 +5.8% $ 1,178 $ 1,157 +1.8% Adjusted EBITDA margin8 28.2% 29.0% (80bps) 20.8% 21.8% (100bps) Diluted earnings per share (EPS) $ 0.86 $ 0.75 +14.7% $ 0.67 $ 0.58 +15.5% Adjusted diluted earnings per share9 $ 0.88 $ 0.81 +8.6% $ 0.74 $ 0.66 +12.1% Revenues were $3,494 million in the second quarter of 2026 compared to $3,218 million in 2025. Revenues were 8.6% higher in the quarter, which was primarily driven by strong volume growth of $200 million and contributions from acquisitions of $54 million from the Building Materials segment, aggregates price increases of $16 million and a $6 million favorable impact from foreign exchange. Net income was $476 million for the second quarter of 2026, or $0.86 per diluted share, compared with Net income of $416 million, or $0.75 per diluted share, in the second quarter of 2025. Adjusted diluted earnings per share for the second quarter of 2026 was $0.88 compared to $0.81 in the second quarter of 2025. Adjusted EBITDA was $986 million for the second quarter of 2026 compared to $932 million in 2025. The increase was driven by higher volumes, aggregates price increases, ASPIRE savings, partially offset by higher freight, diesel and raw materials costs, as well as lower insurance proceeds compared to the prior period. Adjusted EBITDA Margin was 28.2% for the three months ended June 30, 2026, compared to 29.0% for the three months ended June 30, 2025. Unallocated corporate costs in the second quarter of 2026 were $44 million compared to $72 million in the second quarter of 2025 and $56 million in the first quarter of 2026. The company invested $241 million and $511 million in capital expenditures, net for the three and six months ended June 30, 2026, respectively, and expects to invest approximately $900 million in 2026 to expand production, increase operational efficiency and best serve customers. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 3 6 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026. 7 Adjusted EBITDA represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 8 Adjusted EBITDA Margin represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 9 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 six months ended June 30, ended June 30, $ in millions 2026 202510 % Change 202610 202510 % Change Revenues $ 2,445 $ 2,259 8.2% $ 3,948 $ 3,600 9.7% Segment Adjusted EBITDA11 $ 793 $ 754 5.2% $ 960 $ 886 8.4% Segment Adjusted EBITDA margin12 32.4% 33.4% (100bps) 24.3% 24.6% (30bps) Volumes For the three months For the six months ended June 30, ended June 30, in millions 2026 2025 % Change 2026 2025 % Change Cement - tons sold13 6.3 6.0 5.0% 10.5 9.6 9.4% Aggregates - tons sold 34.3 32.2 6.5% 52.2 47.9 9.0% Average Selling Price For the three months ended June 30, $ per ton 2026 2025 % Change Constant Currency14 % Change Constant Currency Cement - price per ton13 $171.43 $171.52 (0.1%) $171.19 (0.2%) Aggregates - price per ton15 $14.67 $14.05 4.4% $14.61 4.0% Average Selling Price For the six months ended June 30, $ per ton 2026 2025 % Change Constant Currency14 % Change Constant Currency Cement - price per ton13 $170.39 $171.56 (0.7%) $169.78 (1.0%) Aggregates - price per ton15 $14.96 $14.41 3.8% $14.85 3.1% Building Materials Revenues were $2,445 million in the second quarter of 2026 compared to $2,259 million in 2025. Revenue growth of 8.2% in the second quarter of 2026 was driven by volume growth, contributions from acquisitions, and aggregates price increases. Cement volumes were up 5.0%. Supplementary Cementitious Materials volumes were up double digits. Pricing was down 0.2% on a constant currency basis and improved 2.1% compared to Q1 2026 as increases were realized. Aggregates volumes were up 6.5% and pricing grew 4.0% on a constant currency, freight adjusted basis, broadly supported throughout our geographies. Second quarter 2026 Segment Adjusted EBITDA for the Building Materials segment was up 5.2% to $793 million, compared to $754 million in 2025. The increase was mainly attributable to volume growth, aggregates price increases, contributions from acquisitions, and ASPIRE savings, partially offset by higher freight and diesel costs and higher insurance proceeds in the prior year related to insurable events in 2024. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 4 10 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026. 11 Segment Adjusted EBITDA represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 12 Segment Adjusted EBITDA Margin represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 13 Cement volume and pricing figures presented above exclude trading. 14 Constant Currency is a non-GAAP financial measure, which is defined on page 9. 15 Aggregates pricing figures presented above are freight adjusted, excluding freight revenues.


 

Amrize Building Envelope Results (Unaudited) For the three months For the six months ended June 30, ended June 30, $ in millions 2026 202516 % Change 202616 202516 % Change Revenues $ 1,049 $ 959 9.4% $ 1,727 $ 1,707 1.2% Segment Adjusted EBITDA $ 237 $ 250 (5.2%) $ 318 $ 373 (14.7%) Segment Adjusted EBITDA margin 22.6% 26.1% (350bps) 18.4% 21.9% (350bps) Building Envelope Revenues were $1,049 million for the second quarter of 2026, compared to $959 million in 2025. Revenue growth of 9.4% in the second quarter of 2026 was primarily driven by above-market volume growth. Higher commercial roofing volumes were driven by increased system selling and large-scale projects, including data centers and warehousing, as well as resilient commercial re-roofing demand. Residential roofing volumes grew above-market, driven by investments in commercial capabilities and distributor inventory stocking. Commercial and residential volume growth was partially offset by softer demand for weatherproofing and insulation products. Pricing sequentially improved from the first quarter of 2026 as increases were phased in throughout the second quarter. Additional price increases were implemented in July and are planned in August for select brands. The company expects second half price-cost to improve compared to the first half of the year. Second quarter 2026 Segment Adjusted EBITDA for the Building Envelope segment was $237 million, compared to $250 million in 2025. The decrease in Segment Adjusted EBITDA was primarily attributable to higher freight and raw materials costs, partially offset by volumes. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 5 16 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026.


 

Amrize Cash Flow and Debt For the six months ended June 30, 2026, net cash used in operating activities was $475 million as compared to $441 million for the six months ended June 30, 2025. The increase in cash used in operating activities of $34 million was primarily driven by higher accounts receivable and settlement of amounts due to related parties, partially offset by higher net income and non-cash expenses. Free Cash Flow17 was a use of $986 million for the six months ended June 30, 2026 compared to a use of $860 million for the six months ended June 30, 2025. The decrease in Free Cash Flow was primarily driven by higher Capex due to 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 $6,004 million and Cash and cash equivalents were $729 million as of June 30, 2026, resulting in Net Debt18 of $5,275 million. Net Leverage Ratio19 as of June 30, 2026 was 1.7x. Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 6 17 Free Cash Flow represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 18 Net Debt represents a Non-GAAP measure, which is defined on page 9 and reconciled on pages 13-15. 19 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 During the three months ended June 30, 2026, the Company identified prior period misstatements. In evaluating these misstatements together with previously identified uncorrected misstatements (collectively, the “Other Misstatements”), the Company concluded that, while the aggregate misstatements were not material to any previously issued consolidated financial statements, correcting them in the current period would have been material to the Company's consolidated results of operations for the three and six months ended June 30, 2026 and would be material to the Company's forecasted consolidated results of operations for the year ended December 31, 2026. The most significant misstatement relates to an understatement of deferred revenue associated with extended warranty arising from its acquisitions of Duro-Last in 2023 and Malarkey in 2022, both within the Building Envelope segment. The understatement of deferred revenue was $78 million and $76 million as of December 31, 2025 and March 31, 2026, respectively. The Company evaluated the materiality of the extended warranty misstatement and the Other Misstatements, in consideration of both quantitative and qualitative factors, and determined that they were not material, individually or in the aggregate, to any previously issued consolidated financial statements. See Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026 for additional information. The Company has revised its previously issued financial statements and related disclosures as of the year ended December 31, 2025, as of and for the three months ended March 31, 2025, as of and for the three and six months ended June 30, 2025, and as of and for the three months ended March 31, 2026 to correct the extended warranty misstatement and other unrelated immaterial misstatements in its Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 to be filed with the SEC, and will reflect these revisions in future filings that include the affected periods. Second Quarter Report and Webcast Information Amrize expects to file its second quarter 2026 Form 10-Q on or before August 10, 2026. Amrize will host a live webcast to discuss the company’s financial results at 7:30 am Central Time on Friday, August 7, 2026. Registration for the live webcast can be completed at https://amrize-quarterly-results-q2-2026.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 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 property and casualty insurance income, proceeds from land expropriation, and proceeds from disposals of long-lived assets. 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 benefit. 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 benefit, Acquisition and integration-related costs, Litigation-related costs, Loss on impairments, Restructuring and other costs, Spin-off and separation-related costs, Other non-operating (expense) income, net, Income from equity method investments, and unallocated corporate costs. Segment Adjusted EBITDA Margin is defined as Segment Adjusted EBITDA divided by Revenues. 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. 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 six months ended June 30, ended June 30, 2026 202520 202620 202520 Revenues $ 3,494 $ 3,218 $ 5,675 $ 5,307 Cost of revenues (2,501) (2,277) (4,474) (4,129) Gross profit 993 941 1,201 1,178 Selling, general and administrative expenses (283) (286) (568) (529) Gain on disposal of long-lived assets 3 4 8 5 Loss on impairments (2) (2) (2) (2) Operating income 711 657 639 652 Interest expense, net (89) (121) (167) (239) Other non-operating income, net (1) 1 1 2 Income before income tax expense and income from equity method investments 621 537 473 415 Income tax expense (146) (122) (105) (94) Income from equity method investments 1 1 1 1 Net income 476 416 369 322 Net loss attributable to noncontrolling interests 2 1 4 1 Net income attributable to the Company $ 478 $ 417 $ 373 $ 323 Earnings per share attributable to the Company: Basic $ 0.87 $ 0.75 $ 0.67 $ 0.58 Diluted $ 0.86 $ 0.75 $ 0.67 $ 0.58 Weighted-average number of shares outstanding: Basic 552.5 553.1 552.9 553.1 Diluted 553.6 553.1 554.1 553.1 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 10 20 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026.


 

Amrize Ltd Unaudited Condensed Consolidated Balance Sheets ($ in millions) As of June 30, As of December 31, 202621 202521 Assets Current Assets: Cash and cash equivalents $ 729 $ 1,922 Accounts receivable, net 2,057 1,113 Inventories, net 1,553 1,490 Prepaid expenses and other current assets 245 88 Total current assets 4,584 4,613 Property, plant and equipment, net 8,454 7,936 Goodwill 9,044 9,044 Intangible assets, net 1,682 1,728 Operating lease right-of-use assets, net 601 615 Other noncurrent assets 238 273 Total Assets $ 24,603 $ 24,209 Liabilities and Equity Current Liabilities: Accounts payable $ 1,347 $ 1,530 Short-term borrowings 735 — Current portion of long-term debt 1,034 333 Operating lease liabilities 132 136 Other current liabilities 906 886 Total current liabilities 4,154 2,885 Long-term debt 4,235 4,936 Deferred income tax liabilities 1,146 1,042 Noncurrent operating lease liabilities 497 500 Other noncurrent liabilities 1,713 1,725 Total Liabilities 11,745 11,088 Total Equity 12,858 13,121 Total Liabilities and Equity $ 24,603 $ 24,209 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 11 21 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026.


 

Amrize Ltd Unaudited Condensed Consolidated Statements of Cash Flow ($ in millions) For the six months ended June 30, 202622 202522 Cash Flows from Operating Activities: Net income $ 369 $ 322 Adjustments to reconcile net income to net cash used in operating activities: Depreciation, depletion, accretion and amortization 494 444 Share-based compensation 20 3 Deferred tax benefit (expense) 27 (2) Other items, net 72 54 Changes in operating assets and liabilities, net of effects of acquisitions: Accounts receivable, net (939) (827) Due from related party — 49 Inventories, net (40) (108) Accounts payable (186) 18 Due to related party — (96) Other assets (159) (115) Other liabilities (121) (170) Defined benefit pension plans and other postretirement benefit plans (12) (13) Net cash used in operating activities (475) (441) Cash Flows from Investing Activities: Purchases of property, plant and equipment (520) (448) Acquisitions, net of cash acquired (425) (78) Net decrease in short-term related-party notes receivable from cash pooling program — 522 Other investing activities, net 49 (7) Net cash used in investing activities (896) (11) Cash Flows from Financing Activities: Transfers to Holcim, net — (98) Proceeds from short-term borrowings, net 735 930 Proceeds from issuance of long-term debt, net of discount — 3,398 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) Payments of finance lease obligations (64) (48) Repurchases of common stock (178) — Dividends paid (304) — Other financing activities, net (1) 2 Net cash provided by (used in) financing activities 188 (566) Effect of exchange rate changes on cash and cash equivalents (10) 34 Decrease in cash and cash equivalents (1,193) (984) Cash and cash equivalents at the beginning of period 1,922 1,585 Cash and cash equivalents at the end of period $ 729 $ 601 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 12 22 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026.


 

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 June 30, 202523 Organic Growth Acquisitions Foreign Exchange For the three months ended June 30, 2026 % ChangeVolume Price Total Revenues $ 3,218 200 16 54 6 $ 3,494 8.6 % Analysis of Change (In millions, except for percentage data) For the six months ended June 30, 202523 Organic Growth Acquisitions Foreign Exchange For the six months ended June 30, 202623 % ChangeVolume Price Total Revenues $ 5,307 278 (12) 77 25 5,675 6.9 % Adjusted EBITDA and Adjusted EBITDA Margin (Unaudited) For the three months For the six months ($ in millions, except percentage data) ended June 30, ended June 30, 2026 202523 202623 202523 Net income $ 476 $ 416 $ 369 $ 322 Depreciation, depletion, accretion and amortization 257 226 494 444 Interest expense, net 89 121 167 239 Income tax expense 146 122 105 94 EBITDA 968 885 1,135 1,099 Acquisition and integration-related costs(1) 10 17 28 21 Litigation-related (settlements) costs(2) (5) 4 (3) 4 Loss on impairments(3) 2 2 2 2 Restructuring and other costs(4) 5 9 8 9 Spin-off and separation-related costs(5) 6 17 10 25 Other non-operating expense (income), net(6) 1 (1) (1) (2) Income from equity method investments (1) (1) (1) (1) Adjusted EBITDA 986 932 1,178 1,157 Unallocated corporate costs 44 72 100 102 Total Segment Adjusted EBITDA $ 1,030 $ 1,004 $ 1,278 $ 1,259 Building Materials $ 793 $ 754 $ 960 $ 886 Building Envelope $ 237 $ 250 $ 318 $ 373 Net income margin 13.6% 12.9% 6.5% 6.1% EBITDA Margin 27.7% 27.5% 20.0% 20.7% Adjusted EBITDA Margin 28.2% 29.0% 20.8% 21.8% Building Materials 32.4% 33.4% 24.3% 24.6% Building Envelope 22.6% 26.1% 18.4% 21.9% (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professions 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 consist of one-time charges on the Company’s investments and property, plant, and equipment. (3) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs (4) Spin-Off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts.(5) 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 23 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026.


 

Amrize Ltd Reconciliation of Non-GAAP Financial Measures (Unaudited) Net Debt Adjusted EBITDA Net Leverage Ratio ($ in millions, except ratio) As of June 30, 2026 Short-term borrowings $ 735 Current portion of long-term debt 1,034 Long-term debt 4,235 Gross Debt 6,004 Less: Cash and cash equivalents 729 Net Debt $ 5,275 For the trailing twelve months ended June 30, 202624 Net income $ 1,210 Depreciation, depletion, accretion and amortization 969 Interest expense, net 341 Income tax expense 355 EBITDA 2,875 Acquisition and integration-related costs(1) 63 Litigation-related (settlements) costs(2) 39 Loss on impairments(3) 15 Restructuring and other costs(4) 18 Spin-off and separation-related costs(5) 28 Other non-operating expense (income), net(6) (3) Income from equity method investments (11) Adjusted EBITDA $ 3,024 (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professions 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 consist 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 June 30, 2026 Net Leverage Ratio 1.7x Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 14 24 Adjusted EBITDA for the trailing twelve months ended June 30, 2026 calculated using third quarter of 2025, fourth quarter of 2025, and second quarter of 2026 figures as reported. First quarter 2026 figures included have been adjusted per revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026.


 

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 six months ended June 30, ended June 30, 2026 202525 202625 202525 Net cash provided by (used in) operating activities $ 418 $ 406 $ (475) $ (441) Capital expenditures, net(1) (241) (208) (511) (419) Free Cash Flow $ 177 $ 198 $ (986) $ (860) (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 six months ended June 30, ended June 30, 2026 202525 202625 202525 Diluted Earnings per Share $ 0.86 $ 0.75 $ 0.67 $ 0.58 Acquisition and integration-related costs(1) 0.01 0.02 0.04 0.03 Litigation-related (settlements) costs(2) (0.01) 0.01 — 0.01 Loss on impairments(3) — — — — Restructuring and other costs(4) 0.01 0.01 0.02 0.01 Spin-off and separation-related costs(5) 0.01 0.02 0.01 0.03 Adjusted Diluted Earnings per Share $ 0.88 $ 0.81 $ 0.74 $ 0.66 (1) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professions 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 consist 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 $4 million and $12 million for the for the three months ended June 30, 2026 and 2025, respectively, and in aggregate of $11 million and $15 million for the six months ended June 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 25 Prior period financial information includes revisions that were not material to any previously issued consolidated financial statements. See additional information in 'Revision of Prior Period Financial Statements' and Exhibit 99.3 to the Company's Current Report on Form 8-K filed on August 6, 2026.


 

Q2 2026 EARNINGS PRESENTATION Jan Jenisch, Chairman and CEO Baris Oran, CFO August 7, 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 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 second 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 Q2 2026 HIGHLIGHTS Jan Jenisch, Chairman and CEO


 

4 Q2 2026 HIGHLIGHTS REVENUE UP 8.6% WITH STRONG ORGANIC GROWTH OF 6.7% 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 and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. 2 See appendix for Non-GAAP reconciliation. 3 Includes $44M of unallocated corporate costs in Q2 2026 compared to $72M in Q2 2025. 4 Includes $197M of share repurchases in Q2 2026, including withholding taxes that will be paid in Q3 2026; also includes $305M of dividends, including $1M accrued for dividends on unvested share-based compensation to be paid upon vesting. 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 second installment of the annual dividend of up to $0.44 per share approved at the company's Annual General Meeting. $2,445M Revenues +8.2% vs. Q2 20251 $793M Adjusted EBITDA2 +5.2% vs. Q2 20251 $1,049M Revenues +9.4% vs. Q2 20251 $237M Adjusted EBITDA2 -5.2% vs. Q2 20251 Building Materials Building Envelope $3,494M Revenues +8.6% vs. Q2 20251 $986M Adjusted EBITDA2 +5.8% vs. Q2 20251,3 Amrize Rapid Redi-Mix Acquired in July 2026 Strengthens network in Texas $502M Share Repurchase & Dividends in Q2 20264 Investing for Growth $0.11/share Second Quarterly Dividend To be paid on Aug 26, 20265 Cash Returned to Shareholders $241M Q2 Capex Expect ~$900M in FY 2026 $476M Net Income +14.4% vs. Q2 20251 $0.88 Adjusted Diluted EPS2 +8.6% vs. Q2 20251 $0.86 Diluted EPS +14.7% vs. Q2 20251


 

5 Commercial 51% Revenues1 Infrastructure 28% Revenues1 Residential 21% Revenues1 MARKET TRENDS STRONG ORDER BACKLOG AND ACTIVE QUOTING OF NEW CUSTOMER PROJECTS 1 % of 2025 total revenues. 2026 Outlook • Strong pipeline and backlog of customer projects in all business lines • 300+ data center campuses planned across North America; Amrize’s footprint positioned to serve over 90% of these projects Q2 2026 • Continued growth in projects across data centers, energy and industrial; beginning to convert to commercial roofing • 120+ data center projects completed or in progress 2026 Outlook • Robust federal, state and local-level funding; policy environment supportive of locally-made materials for infrastructure builds • Expect continued spend to address aging infrastructure Q2 2026 • Continued demand from state and federal funding and steady multi-year projects • Significant IIJA funding still to be spent; successor bill expected to extend infrastructure tailwind 2026 Outlook • Expect normal seasonal patterns to support stable re-roofing in H2 • U.S. housing shortage to drive long-term growth Q2 2026 • New construction continues to be soft • Amrize had market share and volume gains in residential roofing


 

6 PARTNER OF CHOICE FOR PROFESSIONAL BUILDERS STRONG PIPELINE OF CUSTOMER PROJECTS CONTINUES Montreal Trudeau Airport, Quebec Key supplier of building materials DATA CENTERS TRANSPORTATION INFRASTRUCTURE New Data Center, Illinois Key supplier of building materials DATA CENTERS New Data Center, Texas Advanced roofing systems with Elevate Hudson River Tunnel, New York Key supplier of building materials WATER INFRASTRUCTURE ADVANCED MANUFACTURING Semiconductor Manufacturing Facility, Arizona Key supplier of building materials Multiple LNG Facilities, Southwest Louisiana Key supplier of building materials ENERGY INFRASTRUCTURE


 

7 Accelerating Synergies and Partnerships for Impact and REsults ASPIRE PROGRAM ON TRACK $29M IN SAVINGS DELIVERED IN Q2 ✓ $29 million in savings delivered in Q2 2026 ✓ Projects underway across raw materials, services, logistics and equipment with 650+ suppliers onboarded in 2026 ✓ Q2 success stories include optimized vendor mix for raw materials 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


 

8 Exshaw Cement Plant Alberta St. Constant Cement Plant Quebec Ste. Genevieve Cement Plant Missouri Malarkey Shingles Plant Indiana Aggregates Quarry Expansions Across North America Completed 660K ton of additional production Project Underway 100K tons of additional production Project Underway New plant to serve Midwest & Eastern markets Projects Underway Five quarry projects adding 150M+ tons of reserves in attractive markets INVESTING FOR GROWTH $241M CAPEX IN Q2 TO FURTHER STRENGTHEN POSITION IN ATTRACTIVE MARKETS Midlothian Cement Plant Texas Broke Ground in Q2 2026 300K tons of additional production Project Underway 50K tons of additional production 8


 

9 INVESTING FOR GROWTH ACQUIRED RAPID REDI-MIX IN JULY 2026 Rapid Redi-Mix • Fast growing concrete producer in the Dallas-Fort Worth metro area, acquired on July 31, 2026; expected to be EPS accretive in 2026 • Modern batch plants and mixer fleet brings significant synergies with aggregates and cement network • Complements Midlothian cement plant expansion PB Materials • Aggregates leader in West Texas, with $185M revenues in 2025 • Adds 50+ years of reserves and 26 operational sites into Amrize’s network • Contributed $54M to Q2 revenues; exceeding expectations with strength of demand and market position Rapid Redi-Mix operational sites PB Materials operational sites Amrize operational sites Amrize cement terminals Amrize cement plants Focused on Strengthening Footprint in High-Growth Markets Dallas -Fort Worth Metro Denver/Colorado Springs Metro Odessa/ West Texas


 

10 RETURNING CASH TO SHAREHOLDERS $502M RETURNED TO SHAREHOLDERS IN Q2 2026 $197M Shares Repurchased in Q2 20261 $0.11/share Second Quarterly Dividend3 $305M Dividends Paid in Q2 20262,3 Dividends paid out of capital contribution reserves and will not be subject to Swiss withholding tax. 1 Share repurchases executed in the second quarter of 2026 include withholding taxes that will be paid in the third quarter of 2026. 2 Includes $1 million accrued for dividends on unvested share-based compensation to be paid upon vesting. 3 Dividends approved at the Company's Annual General Meeting. ✓ Launched $1.0B share repurchase program in May 2026 with 12- month expiration ✓ Expect remaining shares to be repurchased before expiration ✓ $244M for special one-time dividend; paid May 4, 2026 ✓ $61M for Q1 2026 dividend of $0.11/share; paid May 20, 2026 ✓ Board declared Q2 2026 dividend of $0.11/share ✓ To be paid August 26, 2026


 

11 Logistics center, Toronto, ON Amrize inside Q2 2026 RESULTS Baris Oran, CFO


 

12 AMRIZE Q2 2026 REVENUE BRIDGE STRONG ORGANIC GROWTH DRIVEN BY LEADING MARKET POSITIONS $3,218M $3,488M $3,494M $200M $16M $54M $6M 1 2 3 4 5 6 Q2 2025 Revenues1 Volume Price M&A Foreign Exchange Q2 2026 Revenues +8.6% 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 and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. • Revenues grew 8.6% with strong organic growth of 6.7% driven by strong customer demand and pricing • Above-market volume growth across cement, aggregates and roofing driven by strong market position in high-growth markets and successful commercial initiatives • Leading aggregates pricing growth, broadly supported throughout our geographies; premium cement price with 2.1% price improvement compared to Q1 • PB Materials results exceeding expectations driven by strength of demand and market position in West Texas Includes: Building Materials +$36M Building Envelope ($20M)


 

13 $932M $962M $974M $974M $986M $89M $16M ($75M) $29M ($17M) $12M 1 2 3 4 5 6 7 8 +5.8% Q2 2025 Adjusted EBITDA1,2 Volume Price Costs ASPIRE Savings Insurance Proceeds3 M&A / Other Q2 2026 Adjusted EBITDA2 AMRIZE Q2 2026 EBITDA BRIDGE STRONG VOLUMES & PRICING OFFSET BY OIL PRICE DRIVEN COST INFLATION 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 and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. 2 See appendix for Non-GAAP reconciliation. 3 Insurance Proceeds include net insurance recoveries related to unexpected operational disruptions, primarily in our Building Materials segment. The negative impact is driven by higher benefits in the prior year period. Includes: Building Materials +$36M Building Envelope ($20M) Primarily oil price driven cost inflation impacting freight, diesel and raw materials costs


 

14 BUILDING MATERIALS Q2 2026 RESULTS LEADING CEMENT AND AGGREGATES VOLUME GROWTH AND STRONG PRICING 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 and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. 2 See appendix for Non-GAAP reconciliation. 3 Cement volume and pricing figures presented above exclude trading. Aggregates pricing figures presented above are freight adjusted, excluding freight revenues. Cement and aggregates pricing figures presented above are constant currency, which reflects price adjusted to prior period foreign exchange rates. $2,259M $2,445M Q2 2025 Q2 2026 $754M $793M Q2 2025 Q2 2026 Adjusted EBITDA1,2Revenues1 +8.2% +5.2% • Revenues grew 8.2% with organic growth of 5.6% • Cement3 volumes up 5.0%; Supplementary Cementitious Materials volumes were up double digits; cement pricing down 0.2% year- over-year; price improved 2.1% compared to Q1 2026 • Aggregates3 volumes up 6.5%; freight adjusted pricing grew 4.0%, leading pricing growth broadly supported throughout our geographies • Adjusted EBITDA grew 5.2% mainly due to volume growth, aggregates price increases, acquisitions and ASPIRE savings • Adjusted EBITDA growth was partially offset by higher freight and diesel costs, as well as $17M higher insurance proceeds in the prior year related to insurable events in 2024


 

15 BUILDING ENVELOPE Q2 2026 RESULTS REVENUES GREW 9.4% ON ABOVE-MARKET VOLUME GROWTH $959M $1,049M Q2 2025 Q2 2026 $250M $237M Q2 2025 Q2 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 and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. 2 See appendix for Non-GAAP reconciliation. Adjusted EBITDA1,2Revenues1 +9.4% -5.2% • Revenues growth up 9.4% (organically) • Strong commercial roofing volumes supported by increased system selling and large-scale projects, including data centers and warehousing; resilient re-roofing demand • Above-market shingles growth driven by investments in commercial capabilities and distributor inventory stocking • Softer demand for weatherproofing and insulation products • Adjusted EBITDA decline driven by higher freight and raw materials costs, partially offset by volumes • Pricing improved sequentially as increases were phased in throughout Q2; additional price increases for July and August


 

16 BALANCE SHEET FLEXIBILITY TO INVEST FOR GROWTH & RETURN CASH TO SHAREHOLDERS Balance Sheet as of June 30, 2026 Baa1 / BBB+ Moody’s / Standard & Poor’s $729M Cash & Cash Equivalents 1 See appendix for Non-GAAP reconciliation. 2 Represents $1.265B undrawn portion of the Commercial Paper Program, undrawn $2.0B Revolving Credit Facility and $729M Cash & Cash Equivalents as of June 30 2026. 2 Debt structure in Q2 2024 and Q2 2025 was pre-spin, driving change compared to Q2 2026. Q2 2025 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 and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. 1.7x Net Leverage Ratio1 $134M $121M $89M Q2 2024 Q2 2025 Q2 2026 Interest Expense, Net3 $4.0B Total Available Liquidity2 6.3 years Weighted Average Debt Maturity 5.1% Weighted Average Interest Rate Investment Grade Credit Ratings


 

17 2026 GUIDANCE KEY DRIVERS InfrastructureCommercial Residential BUILDING MATERIALS ASPIRE PROGRAMBUILDING ENVELOPE Note: 2026 cement and aggregates pricing assumptions exclude fuel surcharges. Aggregates pricing assumption is freight adjusted. ✓ Expect normal seasonal patterns to support stable re-roofing in H2 ✓ U.S. housing shortage to drive long- term growth ✓ Robust federal, state and local-level funding; policy environment supportive of locally-made materials for infrastructure builds ✓ Expect continued spend to address aging infrastructure ✓ Strong pipeline and backlog of customer projects in all business lines ✓ 300+ data center campuses planned across North America; Amrize’s footprint positioned to serve over 90% of these projects ✓ Cement: pricing flat to up low-single digits ✓ Aggregates: pricing up mid-single digits ✓ Positive volume growth in cement and aggregates with increasing customer demand across Building Materials ✓ Pricing and fuel surcharges to partially offset freight and diesel inflation ✓ H2 2026 price-cost to improve vs H1 2026 ✓ Commercial roofing: volumes up low- single digits ✓ Residential roofing: volumes up high- single digits ✓ Pricing and fuel surcharges to partially offset freight and raw materials inflation ✓ H2 2026 price-cost to improve vs H1 2026 ✓ Expect further savings in H2 2026 ✓ Target ~$80M of savings in 2026


 

18 1 2 3 4 5 6 7 8 FY 2026 EBITDA BRIDGE PATH TO GUIDANCE 1 Insurance Proceeds include net insurance recoveries related to unexpected operational disruptions, primarily in our Building Materials segment. The negative impact is driven by higher benefits in the prior year period. 2 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. FY 2025 Adjusted EBITDA Volume Price Costs ASPIRE Savings Insurance Proceeds1 M&A / Other Updated FY 2026 Adjusted EBITDA2 $3.1B – $3.2B ($170M) – ($140M)$60M – $80M $30M – $50M $150M – $170M Timing difference of price realization and oil price driven cost inflation $3.0B ~$80M ~($55M) Primarily oil price driven cost inflation impacting freight, diesel and raw materials costs


 

19 UPDATED 2026 GUIDANCE Revenues $12.5B - $12.7B Adjusted EBITDA $3.1B - $3.2B 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.


 

20 One World Trade Center, New York, NY Amrize inside APPENDIX


 

21 ACCOUNTING REVISION – Q2 2025 CONSOLIDATED INCOME STATEMENT Totals may not sum due to rounding. Amrize Ltd For the three months ended June 30, 2025 ($ in millions, except for per share data) As reported Adj As revised Revenues $ 3,220 $ (2) $ 3,218 Cost of revenues (2,254) (23) (2,277) Gross Profit 966 (25) 941 Selling, general and administrative expenses (299) 13 (286) Gain on disposal of long-lived assets 4 — 4 Loss on impairments (2) — (2) Operating income 669 (12) 657 Interest expense, net (121) — (121) Other non-operating income, net 1 — 1 Income before income tax expense 549 (12) 537 Income tax expense (122) — (122) Income from equity method investments 1 — 1 Net income 428 (12) 416 Net loss attributable to noncontrolling interests 1 — 1 Net income attributable to the Company $ 429 $ (12) $ 417 Earnings per share attributable to the Company: Basic $ 0.78 $ (0.03) $ 0.75 Diluted $ 0.78 $ (0.03) $ 0.75 Weighted-average number of shares outstanding: Basic 553.1 — 553.1 Diluted 553.1 — 553.1


 

22 ACCOUNTING REVISION – Q2 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 professions 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 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 consist 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 expense, net primarily consists of gains on proceeds from property and casualty insurance. Amrize Ltd For the three months ended June 30, 2025 (In millions, except for percentage data) As reported Adj As revised Net income $ 428 $ (12) $ 416 Depreciation, depletion, accretion and amortization 221 5 226 Interest expense, net 121 — 121 Income tax expense 122 — 122 EBITDA 892 (7) 885 Acquisition and integration-related costs(1) 25 (8) 17 Litigation-related costs(2) 4 — 4 Loss on impairments(3) 2 — 2 Restructuring and other costs(4) 9 — 9 Spin-off and separation-related costs(5) 17 — 17 Other non-operating expense, net(6) (1) — (1) Income from equity method investments (1) — (1) Adjusted EBITDA 947 (15) 932 Unallocated corporate costs 72 — 72 Total Segment Adjusted EBITDA $ 1,019 $ (15) $ 1,004 Building Materials $ 758 $ (4) $ 754 Building Envelope $ 261 $ (11) $ 250 Net income margin 13.7 % (0.8) % 12.9 % EBITDA Margin 27.7 % (0.2) % 27.5 % Adjusted EBITDA Margin 28.3 % 0.7 % 29.0 %


 

23 RECONCILIATION OF ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN Totals may not sum due to rounding. (1) Prior period financial information includes revisions that were not material to any previously issued consolidated financial statement. See details in slides 21-22 of this Appendix to this presentation and additional information in 'Revision of Prior Period Financial Statements' in our earnings release and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. (2) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professions fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (3) 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. (4) Loss on impairments consist of one-time charges on the Company’s investments and property, plant, and equipment. (5) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (6) Spin-off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts. (7) Other non-operating expense (income), net primarily consists of gains on proceeds from property and casualty insurance. Amrize Ltd For the three months ended June 30, ($ in millions, except for percentage data) 2026 2025(1) Net income $ 476 $ 416 Depreciation, depletion, accretion and amortization 257 226 Interest expense, net 89 121 Income tax expense 146 122 EBITDA 968 885 Acquisition and integration-related costs(2) 10 17 Litigation-related (settlements) costs(3) (5) 4 Loss on impairments(4) 2 2 Restructuring and other costs(5) 5 9 Spin-off and separation-related costs(6) 6 17 Other non-operating expense (income), net(7) 1 (1) Income from equity method investments (1) (1) Adjusted EBITDA 986 932 Unallocated corporate costs 44 72 Total Segment Adjusted EBITDA $ 1,030 $ 1,004 Building Materials $ 793 $ 754 Building Envelope $ 237 $ 250 Net income margin 13.6 % 12.9 % EBITDA Margin 27.7 % 27.5 % Adjusted EBITDA Margin 28.2 % 29.0 %


 

24 RECONCILIATION OF ADJUSTED DILUTED EARNING PER SHARE Totals may not sum due to rounding. (1) Prior period financial information includes revisions that were not material to any previously issued consolidated financial statement. See details in slides 21-22 of this Appendix to this presentation and additional information in 'Revision of Prior Period Financial Statements' in our earnings release and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. (2) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professions fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (3) 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. (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 June 30, 2026 2025(1) Diluted Earnings per Share $ 0.86 $ 0.75 Acquisition and integration-related costs(2) 0.01 0.02 Litigation-related (settlements) costs(3) (0.01) 0.01 Restructuring and other costs(4) 0.01 0.01 Spin-off and separation-related costs(5) 0.01 0.02 Adjusted Diluted Earnings per Share $ 0.88 $ 0.81


 

25 RECONCILIATION OF NET DEBT AND NET LEVERAGE RATIO Amrize Ltd As of June 30, ($ in millions) 2026 Short-term borrowings $ 735 Current portion of long-term debt 1,034 Long-term debt 4,235 Gross Debt 6,004 Less: Cash and cash equivalents 729 Net Debt $ 5,275 Amrize Ltd As of June 30, 2026 Net Leverage Ratio 1.7x Totals may not sum due to rounding. (1) Adjusted EBITDA for the trailing twelve months ended June 30, 2026 calculated using third quarter of 2025, fourth quarter of 2025, and second quarter of 2026 figures as reported. First quarter 2026 figures included have been adjusted per revisions that were not material to any previously issued consolidated financial statements. See details in slides 21-22 of this Appendix to this presentation and additional information in 'Revision of Prior Period Financial Statements' in our earnings release and Exhibit 99.3 to the Company’s Current Report on Form 8-K filed on August 6, 2026. (2) Acquisition and integration-related costs are those incurred for business combinations (including advisory, legal, valuation, and other professions fees) as well as the unfavorable effects of purchase accounting. Certain warranty charges related to pre-acquisition manufacturing issues are also included. (3) Litigation-related 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. (4) Loss on impairments consist of one-time charges on the Company’s investments and property, plant, and equipment. (5) Restructuring and other costs include charges associated with non-core sites and termination-related severance costs. (6) Spin-off and separation-related costs notably include rebranding costs and professional services supporting Sarbanes-Oxley implementation efforts. (7) Other non-operating income, net primarily consists of gains on proceeds from property and casualty insurance. Amrize Ltd For the trailing twelve months ended ($ in millions) June 30, 2026(1) Net income $ 1,210 Depreciation, depletion, accretion and amortization 969 Interest expense, net 341 Income tax expense 355 EBITDA 2,875 Acquisition and integration-related costs(2) 63 Litigation-related costs(3) 39 Loss on impairments(4) 15 Restructuring and other costs(5) 18 Spin-off and separation-related costs(6) 28 Other non-operating income, net(7) (3) Income from equity method investments (11) Adjusted EBITDA $ 3,024


 

© 2026 Amrize. All rights reserved.


 

Revision of Prior Period Financial Statements This exhibit shows revisions of the Company’s historical Consolidated Financial Statements as of and for the year ended December 31, 2025, as of and for the three months ended March 31, 2025, as of and for the three and six months ended June 30, 2025, and as of and for the three months ended March 31, 2026 to correct for immaterial misstatements identified during the period ended June 30, 2026. During the three months ended June 30, 2026, the Company identified prior period misstatements. In evaluating these misstatements together with previously identified uncorrected misstatements (collectively, the “Other Misstatements”), the Company concluded that, while the aggregate misstatements were not material to any previously issued consolidated financial statements, correcting them in the current period would have been material to the Company's consolidated results of operations for the three and six months ended June 30, 2026 and would be material to the Company's forecasted consolidated results of operations for the year ended December 31, 2026. The most significant misstatement relates to an understatement of deferred revenue associated with extended warranty arising from its acquisitions of Duro-Last in 2023 and Malarkey in 2022, both within the Building Envelope segment. The understatement of deferred revenue was $78 million and $76 million as of December 31, 2025 and March 31, 2026, respectively. In evaluating whether its previously issued consolidated financial statements were materially misstated, the Company applied the guidance in Accounting Standard Codification (ASC) Topic 250, Accounting Changes and Error Corrections, including ASC Topic 250-10-S99-1 (SAB Topic 1.M), Assessing Materiality, and ASC Topic 250-10-S99-2 (SAB Topic 1.N), Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements. The Company evaluated the materiality of the extended warranty misstatements and the Other Misstatements, in consideration of both quantitative and qualitative factors, and determined that they were not material, individually or in the aggregate, to any previously issued consolidated financial statements. Accordingly, the Company is revising the applicable prior period financial statements and related disclosures as of the year ended December 31, 2025, as of and for the three months ended March 31, 2025, as of and for the three and six months ended June 30, 2025, and as of and for the three months ended March 31, 2026 to correct the extended warranty misstatement and other unrelated immaterial misstatements, presented herein and will reflect these revisions in future filings that include the affected periods. Additional information will be included in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026 to be filed with the SEC. Media Release Ad hoc announcement pursuant to Art. 53 LR Exhibit 99.3 Media Relations: media@amrize.com Investor Relations: investors@amrize.com 1


 

Consolidated Income Statement For the three months ended March 31, 2025 For the three months ended March 31, 2026 (in millions) As reported Adj As revised As reported Adj As revised Revenues $ 2,081 $ 8 $ 2,089 $ 2,178 $ 3 $ 2,181 Cost of revenues (1,859) 7 (1,852) (1,967) (6) (1,973) Gross profit 222 15 237 211 (3) 208 Selling, general and administrative expenses (239) (4) (243) (292) 7 (285) Gain on disposal of long-lived assets 1 — 1 5 — 5 Loss on impairments — — — — — — Operating loss (16) 11 (5) (76) 4 (72) Interest expense, net (118) — (118) (70) (8) (78) Other non-operating income, net 1 — 1 1 1 2 Loss before income tax benefit (133) 11 (122) (145) (3) (148) Income tax benefit 46 (18) 28 27 14 41 Income from equity method investments — — — — — — Net loss (87) (7) (94) (118) 11 (107) Net loss attributable to noncontrolling interests — — — 2 — 2 Net loss attributable to the Company $ (87) $ (7) $ (94) $ (116) $ 11 $ (105) Loss per share attributable to the Company: Basic $ (0.16) $ (0.01) $ (0.17) $ (0.21) $ 0.02 $ (0.19) Diluted $ (0.16) $ (0.01) $ (0.17) $ (0.21) $ 0.02 $ (0.19) Weighted-average number of shares outstanding: Basic 553.1 — 553.1 553.2 — 553.2 Diluted 553.1 — 553.1 553.2 — 553.2 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 2


 

For the three months ended June 30, 2025 For the six months ended June 30, 2025 (in millions) As reported Adj As revised As reported Adj As revised Revenues $ 3,220 $ (2) $ 3,218 $ 5,301 $ 6 $ 5,307 Cost of revenues (2,254) (23) (2,277) (4,113) (16) (4,129) Gross profit 966 (25) 941 1,188 (10) 1,178 Selling, general and administrative expenses (299) 13 (286) (538) 9 (529) Gain on disposal of long-lived assets 4 — 4 5 — 5 Loss on impairments (2) — (2) (2) — (2) Operating income 669 (12) 657 653 (1) 652 Interest expense, net (121) — (121) (239) — (239) Other non-operating income, net 1 — 1 2 — 2 Income before income tax expense 549 (12) 537 416 (1) 415 Income tax expense (122) — (122) (76) (18) (94) Income from equity method investments 1 — 1 1 — 1 Net income 428 (12) 416 341 (19) 322 Net loss attributable to noncontrolling interests 1 — 1 1 — 1 Net income attributable to the Company $ 429 $ (12) $ 417 $ 342 $ (19) $ 323 Earnings per share attributable to the Company: Basic $ 0.78 $ (0.03) $ 0.75 $ 0.62 $ (0.04) $ 0.58 Diluted $ 0.78 $ (0.03) $ 0.75 $ 0.62 $ (0.04) $ 0.58 Weighted-average number of shares outstanding: Basic 553.1 — 553.1 553.1 — 553.1 Diluted 553.1 — 553.1 553.1 — 553.1 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 3


 

Statement of Comprehensive Income For the three months ended March 31, 2025 For the three months ended March 31, 2026 (in millions) As reported Adj As revised As reported Adj As revised Net loss $ (87) $ (7) $ (94) $ (118) $ 11 $ (107) Other comprehensive income (loss), net of tax: Foreign currency translation 16 — 16 (64) — (64) Net change in fair value of effective portion of cash flow hedges, net of tax 2 6 8 13 — 13 Actuarial (losses) gains and prior service (costs) credits for pension and other postretirement plans, net of tax (1) — (1) (2) — (2) Total other comprehensive income (loss), net of tax 17 6 23 (53) — (53) Total comprehensive loss (70) (1) (71) (171) 11 (160) Comprehensive (income) loss attributable to noncontrolling interests — — — 2 — 2 Comprehensive loss attributable to the Company $ (70) $ (1) $ (71) $ (169) $ 11 $ (158) For the three months ended June 30, 2025 For the six months ended June 30, 2025 (in millions) As reported Adj As revised As reported Adj As revised Net income $ 428 $ (12) $ 416 $ 341 $ (19) $ 322 Other comprehensive income (loss), net of tax: Foreign currency translation 222 — 222 238 — 238 Net change in fair value of effective portion of cash flow hedges, net of tax 5 (6) (1) 7 — 7 Actuarial (losses) gains and prior service (costs) credits for pension and other postretirement plans, net of tax (1) — (1) (2) — (2) Total other comprehensive income (loss), net of tax 226 (6) 220 243 — 243 Total comprehensive income 654 (18) 636 584 (19) 565 Comprehensive (income) loss attributable to noncontrolling interests 1 — 1 1 — 1 Comprehensive income attributable to the Company $ 655 $ (18) $ 637 $ 585 $ (19) $ 566 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 4


 

Balance sheet As of December 31, 2025 (in millions) As reported Adj As revised Assets Current Assets: Cash and cash equivalents $ 1,922 $ — $ 1,922 Accounts receivable, net 1,120 (7) 1,113 Inventories, net 1,551 (61) 1,490 Prepaid expenses and other current assets 88 — 88 Total current assets 4,681 (68) 4,613 Property, plant and equipment, net 7,935 1 7,936 Goodwill 9,020 24 9,044 Intangible assets, net 1,728 — 1,728 Operating lease right-of-use assets, net 608 7 615 Other noncurrent assets 277 (4) 273 Total Assets $ 24,249 $ (40) $ 24,209 Liabilities and Equity Current Liabilities: Accounts payable $ 1,538 $ (8) $ 1,530 Current portion of long-term debt 333 — 333 Operating lease liabilities 136 — 136 Other current liabilities 850 36 886 Total current liabilities 2,857 28 2,885 Long-term debt 4,936 — 4,936 Related-party notes payable — — — Deferred income tax liabilities 1,048 (6) 1,042 Noncurrent operating lease liabilities 500 — 500 Other noncurrent liabilities 1,654 71 1,725 Total Liabilities 10,995 93 11,088 Commitments and contingencies (see Note 18) Equity Common stock, par value of $0.01 per share, 680,250,615 shares authorized, 566,875,513 issued and 553,082,525 outstanding as of December 31, 2025 6 — 6 Additional paid-in capital 12,741 (172) 12,569 Retained earnings 902 28 930 Treasury stock, 13,792,988 shares as of December 31, 2025 — — — Accumulated other comprehensive loss (391) 11 (380) Total equity attributable to the Company 13,258 (133) 13,125 Noncontrolling interests (4) — (4) Total Equity 13,254 (133) 13,121 Total Liabilities and Equity $ 24,249 $ (40) $ 24,209 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 5


 

Consolidated Statements of Cash Flow For the three months ended March 31, 2025 For the three months ended March 31, 2026 (in millions) As reported Adj As revised As reported Adj As revised Cash Flows from Operating Activities: Net (loss) income $ (87) $ (7) $ (94) $ (118) $ 11 $ (107) Adjustments to reconcile net (loss) income to net cash used in operating activities: Depreciation, depletion, accretion and amortization 218 2 220 236 1 237 Share-based compensation 1 — 1 9 — 9 Deferred tax benefit — 6 6 (17) (3) (20) Other items, net 29 6 35 24 2 26 Changes in operating assets and liabilities, net of effects of acquisitions: Accounts receivable, net (310) 23 (287) (223) 14 (209) Due from related party 13 — 13 — — — Inventories, net (121) 12 (109) 16 (13) 3 Accounts payable (198) (15) (213) (521) 11 (510) Due to related party 78 (16) 62 — — — Other assets (44) (28) (72) (159) (6) (165) Other liabilities (429) 26 (403) (136) (14) (150) Defined benefit pension plans and other postretirement benefit plans (6) — (6) (7) — (7) Net cash used in operating activities $ (856) $ 9 $ (847) $ (896) $ 3 $ (893) Cash Flows from Investing Activities: Purchases of property, plant and equipment (211) (2) (213) (272) (3) (275) Cash Flows from Financing Activities: Net transfers to Parent (89) (7) (96) — — — Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 6


 

For the six months ended June 30, 2025 (in millions) As reported Adj As revised Cash Flows from Operating Activities: Net loss $ 341 $ (19) $ 322 Adjustments to reconcile net loss to net cash used in operating activities: Depreciation, depletion and amortization 439 5 444 Share-based compensation 3 — 3 Deferred tax (benefit) expense (11) 9 (2) Other items, net 59 (5) 54 Changes in operating assets and liabilities, net of effects of acquisitions: Accounts receivable, net (849) 22 (827) Due from related-party 49 — 49 Inventories (128) 20 (108) Accounts payable 27 (9) 18 Due to related-party (80) (16) (96) Other assets (91) (24) (115) Other liabilities (196) 26 (170) Defined benefit pension plans and other postretirement benefit plans (13) — (13) Net cash used in operating activities $ (450) $ 9 $ (441) Cash Flows from Investing Activities: Purchases of property, plant and equipment (446) (2) (448) Cash Flows from Financing Activities: Net transfers to Parent (91) (7) (98) Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 7


 

Consolidated Statements of Changes in Equity Net parent Accumulated other comprehensive Equity attributable to Total investment loss noncontrolling interest equity (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of December 31, 2024 $ 10,521 $ (146) $ 10,375 $ (606) $ 11 $ (595) $ (1) $ — $ (1) $ 9,914 $ (135) $ 9,779 Net loss (87) (7) (94) — — — — — — (87) (7) (94) Other comprehensive income, net of taxes — — — 17 6 23 — — — 17 6 23 Net transfers to Holcim (94) (7) (101) — — — — — — (94) (7) (101) Changes in equity attributable to noncontrolling interests (1) — (1) — — — 1 — 1 — — — Balance as of March 31, 2025 $ 10,339 $ (160) $ 10,179 $ (589) $ 17 $ (572) $ — $ — $ — $ 9,750 $ (143) $ 9,607 Common Additional Retained Net parent stock paid-in capital earnings investment (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of March 31, 2025 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 10,339 $ (160) $ 10,179 Net income (loss) — — — — — — 59 — 59 370 (12) 358 Other comprehensive income, net of taxes — — — — — — — — — — — — Changes in equity attributable to noncontrolling interests — — — — — — — — — — — — Net transfers from Holcim including Spin-Off related adjustments — — — — — — — — — 2,027 — 2,027 Issuance of Common stock, Treasury stock, and reclassification of Net parent investment 6 — 6 12,730 (172) 12,558 — — — (12,736) 172 (12,564) Balance as of June 30, 2025 $ 6 $ — $ 6 $ 12,730 $ (172) $ 12,558 $ 59 $ — $ 59 $ — $ — $ — Accumulated other comprehensive Equity attributable to Total income noncontrolling interest equity (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of March 31, 2025 $ (589) $ 17 $ (572) $ — $ — $ — $ 9,750 $ (143) $ 9,607 Net income (loss) — — — (1) — (1) 428 (12) 416 Other comprehensive income, net of taxes 226 (6) 220 — — — 226 (6) 220 Changes in equity attributable to noncontrolling interests — — — — — — — — — Net transfers from Holcim including Spin-Off related adjustments 2 — 2 — — — 2,029 — 2,029 Issuance of Common stock, Treasury stock, and reclassification of Net parent investment — — — — — — — — — Balance as of June 30, 2025 $ (361) $ 11 $ (350) $ (1) $ — $ (1) $ 12,433 $ (161) $ 12,272 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 8


 

Common Additional Retained Net parent stock paid-in capital earnings investment (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of December 31, 2024 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 10,521 $ (146) $ 10,375 Net income (loss) — — — — — — 59 — 59 283 (19) 264 Other comprehensive income, net of taxes — — — — — — — — — — — — Changes in equity attributable to noncontrolling interests — — — — — — — — — (1) — (1) Net transfers from Parent including Spin-off-related adjustments — — — — — — — — — 1,933 (7) 1,926 Issuance of Common stock, Treasury stock and reclassification of Net parent investment 6 — 6 12,730 (172) 12,558 — — — (12,736) 172 (12,564) Balance as of June 30, 2025 $ 6 $ — $ 6 $ 12,730 $ (172) $ 12,558 $ 59 $ — $ 59 $ — $ — $ — Accumulated other comprehensive Equity attributable to Total income noncontrolling interest equity (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of December 31, 2024 $ (606) $ 11 $ (595) $ (1) $ — $ (1) $ 9,914 $ (135) $ 9,779 Net income (loss) — — — (1) — (1) 341 (19) 322 Other comprehensive income, net of taxes 243 — 243 — — — 243 — 243 Changes in equity attributable to noncontrolling interests — — — 1 — 1 — — — Net transfers from Parent including Spin-off-related adjustments 2 — 2 — — — 1,935 (7) 1,928 Issuance of Common stock, Treasury stock and reclassification of Net parent investment — — — — — — — — — Balance as of June 30, 2025 $ (361) $ 11 $ (350) $ (1) $ — $ (1) $ 12,433 $ (161) $ 12,272 Common Additional Retained Net parent stock paid-in capital earnings investment (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of December 31, 2024 $ — $ — $ — $ — $ — $ — $ — $ — $ — $ 10,521 $ (146) $ 10,375 Net income (loss) — — — — — — 902 28 930 283 (19) 264 Other comprehensive income, net of taxes — — — — — — — — — — — — Changes in equity attributable to noncontrolling interests — — — — — — — — — (1) — (1) Net transfers from Parent including Spin-off-related adjustments — — — — — — — — — 1,933 (7) 1,926 Issuance of Common stock, Treasury stock and reclassification of Net parent investment 6 — 6 12,730 (172) 12,558 — — — (12,736) 172 (12,564) Share-based compensation expense — — — 11 — 11 — — — — — — Balance as of December 31, 2025 $ 6 $ — $ 6 $ 12,741 $ (172) $ 12,569 $ 902 $ 28 $ 930 $ — $ — $ — Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 9


 

Accumulated other comprehensive Equity attributable to Total income noncontrolling interest equity (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of December 31, 2024 $ (606) $ 11 $ (595) $ (1) $ — $ (1) $ 9,914 $ (135) $ 9,779 Net income (loss) — — — (3) — (3) 1,182 9 1,191 Other comprehensive income, net of taxes 213 — 213 — — — 213 — 213 Changes in equity attributable to noncontrolling interests — — — — — — (1) — (1) Net transfers from Parent including Spin-off-related adjustments 2 — 2 — — — 1,935 (7) 1,928 Issuance of Common stock, Treasury stock and reclassification of Net parent investment — — — — — — — — — Share-based compensation expense — — — — — — 11 — 11 Balance as of December 31, 2025 $ (391) $ 11 $ (380) $ (4) $ — $ (4) $ 13,254 $ (133) $ 13,121 Common Additional Retained stock paid-in capital earnings (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of December 31, 2025 $ 6 $ — $ 6 $ 12,741 $ (172) $ 12,569 $ 902 $ 28 $ 930 Net loss — — — — — — (116) 11 (105) Other comprehensive loss, net of taxes — — — — — — — — — Share-based compensation expense — — — 9 — 9 — — — Shares withheld for employees’ income tax obligations and other — — — (3) — (3) (1) — (1) Balance as of March 31, 2026 $ 6 $ — $ 6 $ 12,747 $ (172) $ 12,575 $ 785 $ 39 $ 824 Accumulated other comprehensive Equity attributable to Total income noncontrolling interest equity (in millions) As reported Adj As revised As reported Adj As revised As reported Adj As revised Balance as of December 31, 2025 $ (391) $ 11 $ (380) $ (4) $ — $ (4) $ 13,254 $ (133) $ 13,121 Net loss — — — (2) — (2) (118) 11 (107) Other comprehensive loss, net of taxes (53) — (53) — — — (53) — (53) Share-based compensation expense — — — — — — 9 — 9 Shares withheld for employees’ income tax obligations and other — — — — — — (4) — (4) Balance as of March 31, 2026 $ (444) $ 11 $ (433) $ (6) $ — $ (6) $ 13,088 $ (122) $ 12,966 Media Release Ad hoc announcement pursuant to Art. 53 LR Media Relations: media@amrize.com Investor Relations: investors@amrize.com 10


 

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