Integrated Report 2022 - Votorantim Cimentos

Votorantim Cimentos Integrated Report 2022
Integrated
Report
2022
1

The world is CHANGING –

and so is Votorantim Cimentos
To BUILD OUR FUTURE we are in a process of constant transformation
–
We are made up of people and are part of peoples’ lives. Reginaldo is next to his daughter Vanessa Christine Von
From the ground up to the highest point of a city, we work Kruger, who has been with us for six years. She joined our
together to build partnerships and lasting relationships. We company as an intern and now works as a reliability engineer
strive to generate value, grow sustainably and create a positive in the same site as her father. Vanessa represents our
impact for everyone. The front cover of this Integrated Report sustainability practices and our vision of the future. We are
illustrates our journey of evolution through the story of two a company that pursues outstanding results every day, in
employees from our Rio Branco do Sul plant, in the state of line with our long-term vision and entrepreneurial essence.
Paraná, in Brazil. In addition, we believe that each of us must strive to create
a positive legacy for the people, the environment and the
The illustration shows Reginaldo Luis Von Kruger, who has communities where we are present.
been with us for 31 years. He is a production coordinator and
is responsible for implementing the Inclusive Bagging program This cover translates the concept behind our new brand and Our
at the Rio Branco do Sul plant, to promote the inclusion of VC Way, symbolizing the diversity of our people, products and
women and people with disabilities in this activity. Reginaldo businesses, combining tradition, innovation and our vision of the
represents our history and our evolution. We are convinced future, and representing our journey of constant evolution.
that our past and our present are fundamental to building
the future we want. We are proud of the history of character, We are very proud to be a global building materials and
respect and strength that we have built. We are a company sustainable solutions company. We work tirelessly to grow and
made up of people who achieve, believe and build—always expand our operations, developing products and services to
together and with excellence, to go further and further. increase our competitiveness and meet the needs of society.
Every day, we have the opportunity to do something new,
creating changes while remembering our history.
Reginaldo and
Vanessa
2
01 | About the Report
Table of Contents 02 | Messages from the Board and the CEO
Click on a title to be directed to a specific chapter. 03 | Votorantim Cimentos
04 | 2022 Highlights
05 | Sustainability and Strategy
06 | Corporate Governance
07 | Financial Management
08 | Caring for People
09 | Competitiveness and Innovation
10 | Creating a Positive Legacy
This Report is interactive.

To return to the Table of Contents, click on the icon
11 | Annex
on the top right corner of the pages.
Click on the interactivity icon for more information.

0 1 . ABOUT THE REPORT
Transparency
–
GRI 2-3, 2-5
As part of our commitment to transparency, we have The financial information includes the businesses that are
been publishing our annual integrated report featuring consolidated in our results and follows the International
environmental, social and governance information, along Financial Reporting Standards (IFRS) issued by the
with economic and financial highlights. The document International Accounting Standards Board (IASB) and the
details the strategies, impacts, risks and opportunities of interpretations of the International Financial Reporting
our operations around the world, and includes results and Interpretations Committee (IFRIC), as well as the guidelines
the ways by which Votorantim Cimentos manages the most issued by the Brazilian Accounting Pronouncements
relevant topics for the business and our main stakeholders. Committee (CPC).
By doing so, we believe we can help our audiences better
understand and monitor our achievements. Non-financial information relating to ESG (environmental,
social and governance) topics is based on corporate
This report was prepared based on the guidelines of the procedures and on environmental and quality standards
International Integrated Reporting Council (IIRC), the GRI and certifications. Information pertaining to Argentina,
Standards, the Global Cement and Concrete Association where we do not have direct control of the operations
(GCCA) guidelines and the Sustainability Accounting and have an indirect stake of 49%, is consolidated in the
Standards Board (SASB) standards for the Building financial statements as equity and is not included in social
Materials industry. It also considers the recommendations and environmental indicators.
of the Task Force on Climate-Related Financial Disclosure
(TCFD) regarding the disclosure of climate-related risks This report covers the period between January 1 and
and opportunities. The GRI and GCCA performance December 31, 2022. The financial statements related to
indicators are continuously monitored by our leadership the fiscal year ended on December 31, 2022 were audited
team and are directly linked to the principles of the by PwC and the non-financial information (ESG) was
United Nations (UN) Global Compact and Sustainable assured by Bureau Veritas.
Development Goals (SDG).
Employee in one
of our plants in Brazil
4
01 . ABOUT THE REPORT
Materiality
–
GRI 2-29, 3-1, 3-2 1
Phases of the materiality assessment
IDENTIFICATION OF TOPICS
| Business strategy, purpose and values
In 2022, we reassessed the topics that are considered The identification of material topics reflects thoughtful | Internal and external commitments
(VC 2030, Global Compact, SDGs, CCCA, etc.)
material for the sustainable management of the company. prioritization on the part of management. There was an
The materiality process, which is carried out every two years, emphasis placed on the assessment of the main current and | Industry benchmarking (15 Brazilian and international companies)
was coordinated by an external consultant and was based potential impacts of each topic. Votorantim Cimentos’ Values | Business scenarios and trends
on the GRI Standards, the AA1000 standard (Accountability and 2030 Commitments, which are in line with the UN Agenda | Topics identified by experts and organizations that
1000) and the recommendations included in the S&P Global 2030 for Sustainable Development, were also considered. set sustainability standards (SASB, Rep Risk, Dow
Jones Sustainability Index, Sustainalytics)
Corporate Sustainability Assessment (CSA) for the Dow Jones
Sustainability Index (DJSI). The assessment considered the As a result of this process, seven topics were identified as 2 ASSESSMENT OF RELEVANCE
concepts of double materiality (consideration of financial material: | Online consultation with stakeholders and senior
and non-financial impacts) and dynamic materiality (ongoing management: 352 responses from stakeholder groups
| 3 environmental topics: Climate change; and 19 responses from company leaders
feedback from stakeholders and consideration of how
Air emissions; and Responsible use of
current and future issues are or may become relevant to the | Mapping of actual and potential impacts
materials, waste and circular economy
company). PRIORIZATION
| 2 social topics: Diversity and inclusion; 3
| Probability and magnitude of impacts identified by management
The materiality assessment included the participation and Safety, health and well-being
| Perceptions of the stakeholders
of different stakeholder groups (employees, customers, | 2 governance topics: Ethics, integrity and | List of topics that received the highest scores in the consultations
suppliers, community members, partners in social projects, transparency; and Innovation and technology | Concept of double materiality (financial and
financial markets and non-governmental organizations), who non-financial aspects – ESG)
responded to online questionnaires available in English, French, Compared to the 2020 materiality assessment, five topics
Portuguese, Spanish and Turkish. We received 352 responses were maintained (Climate change; Responsible use of 4 VALIDATION
prioritizing topics considered to be of high relevance. materials, waste and circular economy; Health, safety and | Approval of material topics by management
well-being; Ethics, integrity and transparency; and Innovation | Consolidation of a final list
Another questionnaire was administered to 19 members of and technology), one topic was revised (Diversity), one topic
5 CONTENT DEFINITION
management (board members, officers, general managers was added (Air emissions) and two topics were excluded,
| Definition of indicators and metrics to be reported
and managers), who ranked these topics based on Votorantim although they continued to be managed by the organization based on industry standards (GRI, GCCA, SASB)
Cimentos’ strategy and 2030 Commitments, as well as on and are included in this report (Risk and crisis management
| Correlation with Global Compact and SDG principles
their perspectives of the impacts of each of these topics on and Responsible relationship with the communities).
the company's legacy.
5
Materials topics
GRI 3-2, 3-3
Principles of the UN Global Compact

The GRI and AA1000 (2015) Standards
were the bases for the materiality
HUMAN RIGHTS
assessment and stakeholder engagement.
The process, conducted by the consulting Businesses should support and respect the protection
1
firm Contadino, identified seven material of internationally proclaimed human rights, and
topics that informed the organization and make sure that they are not complicit
content of this report. 2
in human rights abuses.
LABOR
Businesses should uphold the freedom of association and

3
Climate change the effective recognition of the right to collective bargaining;
the elimination of all forms of forced and
4
compulsory labor;
Air emissions
5 the effective abolition of child labor; and
Responsible use of materials, 6

the elimination of discrimination in respect
waste and circular economy of employment and occupation.
ENVIRONMENT
Ethics, integrity and transparency
Businesses should support a precautionary
7
approach to environmental challenges;
Innovation and technology
undertake initiatives to promote greater
8
environmental responsibility; and
Safety, health and well-being encourage the development and diffusion of
9
environmentally friendly technologies.
Diversity and inclusion

ANTI-CORRUPTION
Businesses should work against corruption in

10
all its forms, including extortion and bribery.
Click on the interactivity icon for more information

6
Our stakeholders The stakeholder groups with whom we engage were determined based on the analysis of economic, social
and environmental impacts, actual or potential, that our businesses have on individuals, groups of individuals and/or organizations.
–
At the same time, we assessed how these stakeholders can affect our activities based on their demands and perceptions.
Stakeholders Communication and engagement channels
Shareholders Board of Directors meetings, results conferences, Integrated Report.
Financial institutions Financial reports, investor briefings, Integrated Report.
Communities Public meetings and consultations, open-door/plant tour programs, community councils,
complaint mechanisms, Ethics Line, websites, Integrated Report, social media.
Customers and consumers Website, apps (VC Online, Obra Fácil, Engemix app, VC Ajuda), social media, loyalty
programs (such as Juntos Somos+; Asmenty; and Mercim), SAC, CRC, Integrated Report,
satisfaction surveys, email marketing.
Employees and contractors Workplace, ComVC, Psiu Bulletin Board, internal town halls, Compliance Day,
NesriNews (Tunisia), Construyendo contigo (Spain), Joussour Attawassoul (Morocco),
Coffee/Tea with the CEO, discussions with the leadership team, meetings,
Stakeholders performance evaluations, climate surveys, Integrated Report, events, intranet.
Stakeholders
Labor unions Negotiations, hearings, positive dialogue agenda and lawsuits.
Suppliers and partners Meetings, apps (drivers app, Mi Ruta), websites, social media, Integrated Report.
Government agencies Meetings, public consultations, website, Integrated Report.
Regulatory bodies Meetings, participation in governance bodies, regulatory filings, websites, Integrated
Report.
Industry associations Meetings, participation in governance bodies, websites, Integrated Report, social media.
Social organizations Meetings, participation in governance bodies, websites, Integrated Report, social media.
Academia and research institutes Meetings, websites, Integrated Report, social media.
Influencers/media Meetings, press releases, websites, industry publications, Integrated Report, social media.
7
02. MESSAGES FROM THE BOARD AND THE CEO
Lasting Results
–
GRI 2-22
In 2022, we faced significant socioeconomic challenges

worldwide, resulting from the COVID-19 pandemic and the
Russia-Ukraine war. In addition to the human impact, the
conflict affected supply chains, sent energy and fuel prices
soaring, and shook the global financial market, with a sharp “Despite this environment,
rise in inflation. Despite this environment, we maintained we maintained the necessary
the necessary strength, in line with our principle of “flexible
solidity“, and operated with excellence, safety, ethics and strength, in line with our
integrity, adapting to the increasingly accelerating changes
and challenges around the world.
principle of 'flexible
solidity' and operated
Aligned with the Growth and Positioning pillar of our
strategy, we continued to strengthen our presence in with excellence,
mature markets. We advanced the integration of the
businesses added to our portfolio in 2021 (McInnis Cement,
safety, ethics and integrity,
in Canada; Cementos Balboa, in Spain; and Superior adapting to the increasingly
Materials and Valley View, in the United States) and received
approval from local authorities to conclude the purchase of accelerating changes and
some of the operations of Heidelberg Materials. The site in
Málaga is among the most modern and sustainable plants in
challenges around the world.“
Spain. The incorporation of this asset will certainly enable
Luiz Pretti,
significant gains for our ESG agenda. Chairman of Votorantim Cimentos’
Board of Directors
We are a vertically integrated company, and we believe
that business transformation drives solid results.
Therefore, we continued to grow our adjacent businesses.
8

We launched new types of mortars, expanded our aggregate sites

and grew in the concrete market (with Engemix), in the waste
management segment (with Verdera) and in the aglime business
(with Viter). Aligned with this strategy, in 2022, we launched Motz,
our carrier company that will connect paths and locations across
Brazil through a digital platform.
As part of the evolution of our organizational culture, we launched

a new corporate branding that reflects our Way of Being, Working
and Thriving and is also aligned with the Sustainability pillar of our
strategy and our 2030 ESG Commitments. Our “V“ now has a new
shape, and our global branding is more modern and contemporary;
it symbolizes the diversity of our people, products and businesses,
and honors the company’s 86-year legacy by combining tradition, “The journey will always
innovation and our vision of the future.
be long and challenging,
Reinforcing our 2030 Commitments, through which we have but we believe we are
established sustainability goals and targets to be achieved by the
end of this decade, we approved the creation of a Sustainability on the right track and
and Innovation Commitee in 2022. The new committee will
come into effect in 2023, replacing the Decarbonization and
will continue to pursue
ESG working group, and will support us in the evolution of lasting results and
environmental, social and governance issues.
create a positive
We are ready to transform our business and adapt to new needs, legacy for society“
while honoring our past, living in the present and focusing on
the future we want to create. The journey will always be long
and challenging, but we believe we are on the right track and will
continue to pursue lasting results and create a positive legacy
for society.
Luiz Pretti
Chairman of Votorantim Cimentos’ Board of Directors Matrix packing
9

Trust in the Future

–
GRI 2-22
In 2022, we once again remained true to our principles

and values and, consequently, celebrated another year of
achievements and favorable results. We focused on offering
products and services that meet the needs of our customers;
diversified our portfolio; put the safety of our people first;
promoted diversity in the workplace; leveraged innovation
and technology to reduce our carbon footprint; made “In 2022, we once
investments in expansion projects; increased our efficiency and
competitiveness; and strengthened our relationship with the
again remained true
communities around us. to our principles
These initiatives ensured progress in all areas and strong and values and,
financial results, despite a global environment of economic
slowdown, with rising inflation, skyrocketing energy prices and
consequently, celebrated
high volatility. In line with the Financial Performance pillar of our another year of
strategy, our net revenue was R$25.8 billion (16% higher than
the previous year). achievements and
We made important progress on our decarbonization agenda,
favorable results.“
which is certainly one of the most relevant issues affecting the Marcelo Castelli,
cement industry globally. And we challenged ourselves to go even Global CEO of Votorantim Cimentos
further, by setting a more aggressive ambition for the future.
With the approval of the Science Based Target initiative (SBTi), we
want to reach a net emission of 475 kg CO2/tonne of cementitious
product by 2030, which is 8.7% lower than our previous
commitment (520 kg CO2/tonne of cementitious product).
10

To achieve our new decarbonization target and to produce low-income families in the center of the city of São Paulo with
carbon-neutral concrete by 2050, we continued to invest access to decent housing.
in technologies for the use of alternative fuels and the
development of clinker substitutes. We also accelerated our As we like to say, we always hope for the best, while remaining
investments to increase the percentage of renewable energy well positioned and prepared for the worst. We are confident
sources in our energy matrix and in the development of new that we are on the right path, with defined strategies, as we
technologies. continue to invest in people and technologies to build a better
and more sustainable world.
Our biggest commitment—what moves us forward every
day—is to continue to make our company more sustainable,
both in the short and long term. To achieve that, we have Marcelo Castelli “As we like to say, we
safety as a non-negotiable value, ensuring that our teams Global CEO of Votorantim Cimentos always hope for the best,
practice safe behaviors and minimize risks. Throughout
the year, we saw a meaningful improvement in our safety
while remaining well
indicators. We had our lowest incident frequency rate in positioned and prepared
recent years (for both employees and contractors) and ended for the worst. We are
2022 with zero fatalities in our operations.
confident that we are
We continued to work on initiatives to promote diversity, on the right path, with
since we believe this approach broadens our perspectives of defined strategies, as
the world, creating both new paths and new possibilities. In
2022, we increased gender diversity among our employees,
we continue to invest in
improved our inclusion rate for people with disabilities and people and technologies
increased the number of women in leadership positions. to build a better and more
We had our lowest incident sustainable world.“
After two years of restrictions caused by the COVID-19
pandemic, we were able to resume many of our in-person frequency rate in recent years
activities in the communities where we operate, with emphasis
on volunteer initiatives in places of high vulnerability. In line and ended 2022 with zero
with our efforts to promote social transformation, we invested
in Soma, an innovative social-rent project that will provide fatalities in our operations.
11
03.
Votorantim
 Cimentos
■ 86-year legacy
■ Operations and activities around the world
■ Awards and Recognition

Employee in one
03. VOTOR ANTIM CIMENTOS
86-year legacy
–
GRI 2-1, 2-6
We are Votorantim Cimentos S.A., a building materials and Votorantim Cimentos follows a business-to-business
sustainable solutions company with 13,089 employees. We (B2B) model, with strong participation in retail, industry,
seek sustainable growth and continued competitiveness infrastructure, construction and agribusiness. We serve
through solutions and initiatives that generate a positive the private, public and civil construction sectors. The
impact for the company and society. verticalization of our operations is one of the hallmarks of
our portfolio, which includes cement, concrete, aggregates,
Since 1936, we have been established in Brazil, with corporate mortars, grouts, finishing products, plasticizers, aglime and
headquarters located in São Paulo and operations in all regions waste management (co-processing).
of the country. In addition to Brazil, we are present in 10 other
countries, on four continents: Argentina, Bolivia, Canada,
Luxembourg, Morocco, Spain, Tunisia, Türkiye, United States
and Uruguay.
Our shares are 100% owned by Votorantim S.A., an investment

holding company with businesses in building materials, finance,
aluminum, renewable energy, mining and smelting, orange
juice, infrastructure, long steel, real estate, investments,
environmental management and energy transition. Together,
the portfolio companies have approximately 500 operating sites
around the world, with more than 40,000 direct employees.
Employee in one
13
03. VOTOR ANTIM CIMENTOS
Operations and activities around the world

–
GRI 2-1
Our facilities
Concrete plants
39 63 50 6
158
87 57 20 7 2
Distribution centers 86
Our brands around the world Votorantim Cimentos 9 21 13 1
Aggregates 44
Europe, Asia and Africa (VCEAA1)
3 1 3 Pontevedra 16 5 11 2
Cement (integrated sites) 34
1 3 2 2 A Coruña
10 12
1 1 Ourense Lime and aglime 22
123
✓ 2 5 23 14 2 Ontario ✓ 1 5 2 Lugo Votorantim Cimentos 123
Canada León ✓ 1 11 3 1
1 1 2 Quebec 3 2 Sevilla International (VCI5) Mortar 15 150
87
Votorantim Cáceres 1
Luxembourg 8 23 1 TOTAL 6
New Brunswick
1 Badajoz ✓ 1 6 1
Cimentos 1 Nova Scotia Spain Griding stations (cement) 14 14
1 4 Wisconsin Huelva ✓ 1 1
North 1 Maine ✓ 1 1 Córdoba Türkiye 1
1 3 Samsun Clinker plants 1 VCBR VCNA VCEAA VCLATAM7
America USA Cadiz 1
Málaga
✓ 1 1 2 1
1 Rhode Island
(VCNA1) Tunisia
New York Morocco ✓ 1 1 Sivas
4 1 2
✓ 1 1 Zaghouan 2 Kayseri Installed cement capacity
1 7 24 3 1 Illinois 4 Ohio in million tonnes
1 3 ✓ 1 Yozgat
1 Fès-Meknes
3
✓
Indiana
1 1 11 1 Michigan Santa Cruz de Tenerife
1 Sidi Slimane 1 Kirikkale Total global cement capacity: 56.8 million tonnes
2 Kenitra ✓ 1 8 Ankara
1 Salé
34.4 8.1 12.9 1.5
14 ✓ 1 1 Temara
4 1 Casablanca
Votorantim Key VCBR VCNA VCEAA VCLATAM 7
Cimentos ✓ Co-processing South 9.4 Canada 4.0
4 Spain 5.9 Bolivia 0.9
South America 150
Cement
Brazil
(VCLATAM7) Votorantim Grinding Southeast 10.7
10.7 USA 4.1
4.1 Türkiye 4.1
4.1 Uruguay 0.6
1 1 2 Bolivia3 Cimentos Clinker

1.4
Northcentral 6.9 Morocco 1.4
Brazil Mortar
✓ 2 1 1 9 1 4 Argentina2 (VCBR1) Lime and Aglime Northeast 7.4 Tunisia 1.5
1.5
Concrete
✓ 1 1 1 1 6 Uruguay4 6
The total does not include sites with co-processing technology, since these are already
Aggregates accounted for in cement plants. Considers the active sites in 2022.
7
Figures for Bolivia and Uruguay only, since Argentina’s operations are not consolidated.
Distribution Center
14
Cement sites with co-processing

AP
Cement (integrated sites)

Griding stations (cement)

1
Votorantim
Distribution centers
Cimentos Brazil
Lime and aglime
Lime and aglime

Concrete plants
Concrete plants
AM CE
(VCBR)
PA
1
Clinker plants
MA 6
Clinker plants
4 2
Aggregates
Aggregates
PI PE
1
Mortar
3
Mortar
AL
RO TO 2
1 3 BA
SE
MT
5 1
ALAGOAS Arapiraca ● PERNAMBUCO Caruaru ● 4
Maceió ● DF
Paulista ●
AMAPÁ Macapá ● GO 4
Petrolina ●
AMAZONAS Manaus ● 3 MG
PIAUÍ Teresina ● 10

MS
BAHIA Camaçari ● RIO DE JANEIRO Cantagalo ✓ ● 3 SP
Feira de Santana ● Rio de Janeiro ● ● RJ
53 6
Itabuna ● São Gonçalo ●

PR
Luis Eduardo Magalhães (LEM) ● Santa Cruz¹ ● 14
Salvador ● Volta Redonda ●
SC
CEARÁ Crateús ● RIO GRANDE DO SUL Caxias do Sul ● 14
RS
Lime and aglime

Concrete plants
Fortaleza (Mucuripe) ● ● Canoas ● 8
Clinker plants
Juazeiro do Norte ● Esteio ● ● ●
Aggregates
Pecém (city of Caucaia) ● ● Passo Fundo ●
Sobral ✓ ● Pinheiro Machado ●
Mortar
DISTRITO FEDERAL Brasília ● Sapucaia do Sul ●
Sobradinho ✓ ● ● ● RONDÔNIA Porto Velho ●
GOIÁS Edealina ✓ ● SANTA CATARINA Blumenau ● SÃO PAULO Embu das Artes ●
Goiânia ● ● Chapecó ● Guarulhos ● ●
MARANHÃO Imperatriz ● Criciúma ● ● Itapecerica da Serra ●
São Luis ● Campos Novos ● Itapeva ● ●
MATO GROSSO Cuiabá ✓ ● ● Florianópolis ● ● Itapetininga ●
Nobres ✓ ● ● Imbituba ● Itu ●
MATO GROSSO DO SUL Campo Grande ● Itajaí ● ● Jundiaí ●
Corumbá ✓ ● ● Joinville ● ● Limeira ● ●
MINAS GERAIS Itaú de Minas ✓ ● ● ● ● São José ● Lins ●
Pratápolis ● Vidal Ramos ✓ ● Osasco ●
Três Corações ● SÃO PAULO Americana ● Ourinhos ● ●
Uberaba ● Araçariguama ● Ponte Alta ● ●
Uberlândia ● ● Araçatuba ● Porto Ferreira ●
PARÁ Belém (city of Ananindeua) ● ● Araraquara ● ● Ribeirão Preto ● ●
Primavera ✓ ● Assis ● Regente Feijó ●
Santarém ● Atibaia ● Salto de Pirapora ✓ ●
PARANÁ Cascavel ● Barueri ● Santa Isabel ●
Colombo ● Bauru ● Santo André ●
Curitiba ● Botucatu ● São José do Rio Preto ● ●
Guarapuava ● Buri ● São José dos Campos ●
Londrina ● ● Cajamar ● ● ● São Paulo ●
Maringá ● ● Campinas ● ● Sorocaba ●
Ponta Grossa ● Cotia ● Votorantim/Santa Helena ✓ ● ●
Quatro Barras ● Cubatão ● SERGIPE Laranjeiras ✓ ●
Rio Branco do Sul ✓ ● ● ● ● Diadema ● TOCANTINS Xambioá ✓ ● ● ●
¹Slag griding
15
Awards and Recognition

–
We received awards and recognition for many of our achievements in
different regions. The 2022 highlights included:
ANAMACO Awards – Votorantim Cimentos was the winner of a

Master Award in the Cement category, in the 31st ANAMACO (National
Association of Construction Material Traders) Awards competition.
The Best of Dinheiro – Votorantim Cimentos had the highest score

among companies in the industry in the Innovation and Quality
category and ranked 187 out of 1,000 companies, in the 19th The
Best of Dinheiro Awards presented by Isto É Dinheiro magazine.
Votorantim Cimentos ranked 2nd in the Building Materials industry,
2nd in the Financial Sustainability, Human Resources and Social
Responsibility categories and 3rd in Corporate Governance.
Chairman appointment – The CEO of VCNA, Filiberto Ruiz, was named

Chairman of the Board of Directors of the Portland Cement Association
(PCA), an association that plays a critical role in support of the cement
and construction industries. This appointment is a testament to his
leadership and reflects the prominent role that our company plays in the
advancement of our industry toward a more sustainable future.
Cement Industry Employers Association – Our Sivas plant won an

Employees in the
award in the Zero Accidents category for the longest time without Rio Branco do
lost-time injuries. In addition, Votorantim Cimentos Türkiye received Sul plant, Brazil
recognition as the union member with the highest participation in
safety training.
16
Employee in the
Cajamar plant, Brazil
Companies that Best Communicate with Journalists – For Época Negócios 360º - Votorantim Cimentos ranked 127th
the fourth consecutive year, we received this award in the among the 150 best companies in a survey conducted by the
Civil Construction category. This recognition is based on an Dom Cabral Foundation evaluating six dimensions: Financial
annual survey including 25,000 journalists from all over Brazil Performance, Corporate Governance, Innovation, Vision of
conducted by Negócios da Comunicação magazine and the the Future, People and Social and Environmental Approach.
Center for Communication Studies (CECOM), and audited by Votorantim Cimentos ranked 3rd in Social and Environmental
BDO Brazil consultancy. Approach in its industry.
CR Reporting Awards – Our 2020 Integrated Report was ESG Exame – For over 20 years, Exame magazine has recognized
considered the report with the best integration of corporate organizations that have made a relevant contribution to
and sustainability information and the organization’s financial sustainable development and for the creation of a more vibrant
results. We were also recognized in the Relevance and and diverse economy. In 2022, this survey was conducted by
Materiality category for our good transparency practices. IBMEC and recognized 45 companies in 15 categories. Of the
three companies recognized in the Civil Construction and Real
Diversity Leading Company – This award, which recognized Estate category, Votorantim Cimentos is the only manufacturer
our efforts to embrace diversity in all its forms, was based of building materials and sustainable solutions.
on a review and audit of our people management policies and
practices, including our diversity and inclusion policies. This Estadão Better Companies – In 2022, Votorantim Cimentos
recognition was granted to VC Spain and the VCEAA Corporate ranked 1st in Sustainability in the Mining, Cement and Oil
office. In addition, we received the Empowering Women’s sector and 14th in the overall ranking. In the Innovation
Talent seal in recognition of the company’s efforts to promote category, it ranked 2nd in the sector. In Corporate Governance,
female talent and leadership. it ranked 3rd in the sector.
Energy Efficiency – The Charlevoix, Michigan (U.S.) plant Exame Best and Largest Award – Votorantim Cimentos won
earned top honors from the Portland Cement Association the Exame Best and Largest Award in the Real Estate and Civil
(PCA), the country's leading cement industry association, for Construction sector, based on an assessment done by Exame
excellence in energy management. magazine in partnership with IBMEC. In in the overall ranking of
the 738 largest companies, Votorantim Cimentos placed 40th.
Environmentally Sustainable Company Green Seal – The
Itapecerica da Serra aggregates site received the Environmentally Excellence in Concrete Construction – Sponsored annually
Sustainable Company Green Seal from the local government. To by the American Concrete Institute (ACI), the Excellence
obtain this certificate, the site’s environmental requirements were in Concrete Construction Awards recognizes exceptional
audited by a commission of environmental inspectors from the concrete construction from around the world. Projects are
municipal government, which validated the two-year certification. evaluated in seven categories and are recognized for their
degree of innovation, complexity, achievement and value for
17
the way in which concrete was used in their construction. (CBM) business was recognized by the Ontario Stone Sand and Top of Mind 2022 – For the tenth consecutive year, we
Engemix was recognized for the Faria Lima Plaza commercial Gravel Association (OSSGA) for excellence in the progressive received the top of mind award from Amanhã magazine,
building, in São Paulo. This was the company’s second rehabilitation of lands used for aggregates mining and extraction. underscoring our reputation and the quality of our brand.
consecutive award (in 2021 Engemix was recognized for a For 32 years, the magazine has sponsored this survey (a
residential building, also in São Paulo). Resilience Award – Presented to Itacamba Cementos by the benchmark in the Brazilian state of Rio Grande do Sul for
European Union, National Chamber of Industries, InfoRSE its methodological rigor) on the best-known and most
GPTW Bolivia 2022 – Itacamba Cementos featured in the portal and Gente Motivando Gente magazine in recognition of recognizable brands. Our Votoran brand was top of mind in
Great Place to Work Institute’s ranking of the best companies our work in the areas of Employability and Solidarity. the Cement category, with 28.4% recall among the people in
to work for in Bolivia, in the seventh position among the state.
companies with 200 to 700 employees. Safety Excellence – Our U.S. based Prairie Materials'
aggregates operations were recognized by the Illinois Top of Mind Revenda Construção – Promoted by the Revenda
IAAP Convention – During the annual Illinois Association Association of Aggregates Producers (IAAP) and the Indiana Construção magazine, this award recognizes companies with
of Aggregate Producers (IAAP) Convention, we received five Mineral Aggregates Association (IMAA). the best evaluation by building material resellers. Votorantim
awards related to our Prairie Material and Prairie Aggregates Cimentos won 1st place in the Cement category, and
performance: Sustainability award, Rock Solid Excellence São Paulo Seal of Diversity – We received the São Paulo Seal of Votomassa won 2nd place in the Mortar category and 3rd place
award, Rock Solid Gold award, Environmental Excellence Diversity, which is awarded by the government of the state of São in the Grout category.
Platinum award and Environmental Excellence Gold Award. Paulo to public, private and civil society organizations that include
the issue of diversity in their human resources management, in Valor 1000 – Votorantim Cimentos ranked 50th among the
Ontario Concrete Awards – We received the Specialty recognition of good organizational practices, such as a strategic 1,000 largest companies and 9th in the Building and Finishing
Innovation Technology Award for CBM’s Concrete Solutions approach to equal rights and the promotion of citizenship. Materials sector, in which it was also considered one of the
TrueCure, along with our partners EXACT Technology, SKYGRid largest companies by net revenue.
Construction, and Jablonsky, AST & Partners. Sustainable Development Award – The Spanish Aggregates
Association presented the Sustainable Development Award Valor Innovation Brazil – This is a survey carried out by the
Paul Harris 2022 – The Chuquiago Marka Rotary Club to Prebetong Áridos (for its project Building Excellence in Valor Econômico newspaper in partnership with the Strategy
recognized the social responsibility initiatives and the Safety through Technology – BEST), in the Health and Safety &/PwC consulting firm that measures the level of innovation
sustainable approach of Itacamba Cementos in Bolivia. category, and to the Cortijo Nuevo pit in Seville, in the in organizations. In 2022, Votorantim Cimentos ranked 129th
categories of Contribution to the Economy and Added Value to among the 150 Most Innovative Companies and 4th in the
Prevencionar – Votorantim Cimentos Spain was the winner of Society, and Restoration. Building Materials sector.
the Prevencionar Award in the Health and Wellness category.
The award recognizes companies that stand out in advocacy, Top Employer 2022 – Votorantim Cimentos Spain and the Visão Agro 2022 Award – For the 19th year, this award
encouragement and support in the area of occupational VCEAA Corporate office were recognized by the Top Employers recognized companies that stood out in agribusiness
health, safety and well-being. Institute, a global authority that recognizes excellence in transformation and production areas in Brazil. Viter was
people management practices. selected by the technical jury to receive the award in the
Progressive Rehabilitation – Our Canadian Building Materials Limestone category.
18
04.
Employee in
one of our
plants in Brazil
2022 Highlights
04. 2022 HIGHLIGHTS
FINANCIAL CAPITAL HUMAN CAPITAL
Solid and lasting results: New corporate branding

despite significant macroeconomic challenges globally, we lauched worldwide
maintained our operational resilience with a focus on cost
21%
management.
R$25.8 billion net revenue

of leadership positions held by women
278,000+
R$4.9 billion adjusted EBITDA hours devoted to training, development and education
R$1.1 billion net profit Increase

in the percentage of people with disabilities
1.55x leverage
Investment
R$2.5 billion in accessibility and inclusion
in gross debt with sustainability-linked KPIs

Zero
fatalities in our operations
20
04. 2022 HIGHLIGHTS
MANUFACTURED CAPITAL NATURAL CAPITAL
Integration of acquisitions and business combinations Approval

carried out in 2021: Cementos Balboa in Spain, McInnis Cement in Canada, of a new decarbonization target by the Science
Valley View Industries and Superior Materials in the United States. Based Target initiative (SBTi)
Approval of the acquisition of Heidelberg Materials, in Málaga (Spain) Commitment to reach 475 kg of
CO2/tonne of cementitious products by 2030
36.8 million tonnes of cement sold

Investment
8.4 million
in wind farms in VCBR and solar energy in VCEAA
cubic meters of concrete sold
579 kg
23.7 million
of net CO2 emissions per
tonnes of aggregates sold tonne of cementitious product
Investment 24% reduction of CO2 net emissions compared to 1990

in a cement grinding and dispacth operation in Uruguay
73.9% clinker/cement factor

R$2.0 billion Capex investments
26.5% of alternative fuels
22.9% of renewable energy
21
04. 2022 HIGHLIGHTS
INTELLECTUAL CAPITAL SOCIAL AND RELATIONSHIP CAPITAL
Participation Investment in innovation

in GCCA's Innovandi program with social impact: Soma project
First Distribution Center Rede Transformar:

with Industry 4.0 technology agenda in collaboration with suppliers to promote housing
initiatives and the preservation of standing forests
Study and development

Return
of new technologies: of in-person volunteer activities
Cement Technological Radar, hydrogen application,
R$18.1 million
CCUS (carbon capture, utilization and storage)
in external social investments
226 sites with engagement plans
6.7% of employees engaged in volunteer activities

441 initiatives sponsored
22
05.
Sustainability
and Strategy
■ Evolving is Our Brand
■ Sustainability and 2030 Commitments
■ The Path to Decarbonization
■ ESG ratings
Açai plantation in the

state of Pará, Brazil
05. SUSTAINABILIT Y AND STR ATEGY
Evolving is Our Brand

–
We are very proud to be a global building materials and “We want to create changes while remembering our history.
sustainable solutions company. In recent years, we published our We believe in sustainable growth through solutions that
2030 Sustainability Commitments, redefined our strategy (Our produce a positive impact and connect with people—hence the
VC House) and revised our organizational culture (Our VC Way). need to translate all that into a new brand that communicates
everything we do, from the ground to the highest point
We grew and expanded our operations and developed products of a city“, said Geraldo Magella, global general manager of
and services to increase our competitiveness and meet the Corporate Communications and Brand Management.
needs of society. To capture our transformation, in 2022 we
launched our new corporate branding: more contemporary and The new shape of the brand’s “V“ symbol honors our legacy
diverse. It symbolizes the diversity of our people, products and and introduces a new perspective that connotes a movement
businesses combined with tradition, innovation and a vision toward the future. The combination of new colors (our well-
of the future. The new visual identity seeks to connect our recognized shade of blue with green, representing our 2030
history, strategic objectives and sustainability commitments Commitments and sustainability practices) and new graphics
with the process of transformation and growth in current and and typeface reflect the company’s solidity, flexibility and
new segments and activities. alignment with Votorantim Cimentos’ global business portfolio.
“We want to create changes while remembering our history.

We believe in sustainable growth through solutions that produce
a positive impact and connect with people.“
Geraldo Magella, global general manager of Corporate Communications and Brand Management
24
2030 Strategy
–
Our 2030 strategy is represented by a house, a symbol of
construction. Our foundations represent the values we do
not compromise: Health and Safety (always first); Compliance
and Risk Management; Our Way of Being, Working and We are a building materials
Thriving; Low Indebtedness; Shareholder Remuneration; and
Investment Grade.
and sustainable solutions company.
We seek sustainable growth and continuous
Our value agenda is made up of five
strategic pillars that support our house
competitiveness through solutions and initiatives that
and guide our efforts and our generate a positive impact for the company and society.
aspirations, with specific
short-, medium- and long-term initiatives:
Growth and Financial Competitiveness Business Sustainability

positioning performance transformation
Balance presence between Generate an attractive Ensure relevant Innovate, create new Generate positive impact
mature and emerging return on invested market share and cost solutions and strengthen for the company and
OUR countries, diversifying capital. leadership. our business, getting society.
ASPIRATIONS
risks and ensuring closer to consumers.
sustainable growth.
WHAT WE WON’T Health Compliance and risk Our Low Shareholder Investment
COMPROMISE and safety management culture indebtedness remuneration grade
25
Business Model
– Click on the interactivity icon for more information
N ING SU
TIO ST
Value capture (input) PO
SI AI
NA Shared value (outputs)
D BI
N L
IT
TH
Financial Capital Financial Capital
Y
OW
GR
Natural Capital Natural Capital
Human Capital Human Capital
F O R M A ON
FI N A NCIAL P
VALUE SHARED
TI
CAPTURE VALUE
Manufactured Capital Manufactured Capital
ANS
E RF
Social and Relationship Capital Social and Relationship Capital
TR
OR
SS
MA
NE
Intellectual Capital Intellectual Capital
NC
SI
BU
E
CO M
PE TITIV E N E S S
26
Sustainability and 2030 Commitments

–
We have been leaders in the building materials industry in 2030 commitments pillars
Brazil for almost nine decades and sustainability is one of
1. We operate with integrity and transparency
the five strategic drivers of our operations worldwide. With
that in mind, we seek to create a positive and long-term 2. Safety, health and well-being are fundamental values
impact for the company and society, while also managing and 3. Innovation: we co-create sustainable solutions
minimizing the impacts caused by our activities. 4. A diverse and inclusive environment
5. Reducing our environmental footprint
We are committed to reducing greenhouse gas emissions, as
6. Promoting a more circular business environment
well as air emissions such as particulate matter and other gases,
in cement production. We remain focused on making our energy
7. Generating shared value in our communities
matrix more efficient and competitive, while also promoting
the safety and well-being of all employees and fostering the These commitments reflect Our Way of Being and are in line
socioeconomic development of the communities around our with megatrends in the construction sector, including the impact
plants and offices. of factors such as demographic changes, globalization and
future markets, climate-related challenges, and innovation and
We are an established company that has demonstrated technology dynamics.
significant adaptability to operate in a world in accelerated
transformation and in different macroeconomic Since the publication of our 2030 Commitments in 2020, we have
environments. This leads us to work in an increasingly advanced, monitored and tracked our global performance against
sustainable manner as we strive to create long-term value indicators, reporting the results to our Executive Committee and
for all our stakeholders. the Board of Directors. Monitoring and improving our performance
against 2030 targets is a commitment shared by the entire
Our strategy is in line with the United Nations Sustainable organization. Accordingly, in 2022, the long-term compensation
Development Goals (SDGs), as we believe that this is the of company executives began to consider targets related to key
way to help guide and ensure the sustainable continuity performance indicators (KPIs), including an increase in the percentage
of our business. Our ESG journey is guided by our 2030 of women in leadership positions and a reduction of CO2 emissions.
Commitments, with a set of targets related to seven pillars. Xambioart project
in Xambioá, Brazil
Our progress toward our 2030 targets is detailed on page 92.
27
The Path to Decarbonization

–
GRI 3-3_305 | SASB EM-CM 110a.2
Climate change is already a reality and is having a widespread 2015: to limit global warming to well below 2°C compared to
impact in all parts of the world. Droughts, fires, floods pre-industrial levels, making every possible effort to limit the
and extreme weather events are becoming more frequent, increase in global temperature to 1.5°C.
threatening food supply and security and livelihoods around
the planet and highlighting the fact that the climate crisis In 2022, we approved a new CO2 emission reduction target,
is also in many ways an economic and social crisis as well. in line with the Science Based Target initiative (SBTi). Created
According to the latest report by the Intergovernmental Panel by four partner organizations (CDP, United Nations Global
on Climate Change (IPCC), the average temperature on the Compact, World Resources Institute and World Wide Fund
planet has already increased by 1.1°C compared to the pre- for Nature), this initiative calls on companies to reduce their
industrial era and is on the path to increasing by more than greenhouse gas (GHG) emissions, driving the transition toward
4°C if we fail as a society to transform our lifestyles and bring a low-carbon economy.
climate action to the center of political and business decisions.
Like other large-scale industrial activities, the cement industry

also produces CO2 emissions, primarily due to the nature of
its production process. Most of the emissions occur during
calcination, a process in which limestone is subjected to high
temperatures inside cement kilns to form calcium oxide.
According to the International Energy Agency (IEA), the cement
industry is responsible for 7% of all global CO2 emissions.
Fighting the negative effects of climate change is at the

core of our strategy and we recognize the role, relevance
and importance of our decarbonization journey. We have
implemented different initiatives to align our emission reduction
targets with the ambition of the Paris Agreement signed in
Employees in one of our
cement plants in Brazil
28
SBTi emissions target DECARBONIZATION PILLARS

To fulfill our new commitment, our decarbonization
strategy is based on four main pillars:
“The validation of the new Our new commitment is to reach a net emission of 475 kg of Cementitious product: Substitution of clinker for
CO2/tonne of cementitious product by 2030, a target that by-products from other industries, including blast-
target by the SBTi reinforces is 8.7% more aggressive than the previous one (520 kg of furnace slag and fly ash from thermoelectric plants,
our ongoing commitment CO2/tonne of cementitious product) and represents a 24.8% in addition to other cementitious materials, such as
reduction in our emissions compared to the base year 2018. calcined clay, natural pozzolans and other materials.
and efforts regarding the
net-zero agenda. We have READ MORE ON PAGE 71.
been working tirelessly CO2 net emissions

(kg CO2/tonne of cementitious product) Co-processing Substitution of fossil fuels used
to help decarbonize the in cement production kilns for other materials,
entire value chain and especially biomass and different types of waste.
-37,7%
create a positive legacy for CO2
READ MORE ON PAGE 71.
society as a whole, seeking

Energy efficiency: Optimization of the
partnerships, leveraging 763 production process, use of renewable energy
the circular economy and sources and investment in plant efficiency.
developing new technologies.“ 576 597 579

READ MORE ON PAGE 76.
475
Álvaro Lorenz, Global
New technologies/CCUS: Use of innovative
Officer of Sustainability,
processes and new materials, dematerialization
Institutional Relations,
of the value chain, carbon capture, utilization
Product Development
and storage, and partnerships with various
and Engineering.
entities and academia to increasingly optimize
1990
2020
2021
2022
2030
resources and reduce carbon intensity.
Cementitious Co-processing Energy New
product efficiency technologies/
CCUS READ MORE ON PAGE 62.
29
Our investments are aligned with, and help drive, the Carbon-neutral Concrete
decarbonization trajectory of our business. Currently,
carbon is already regulated in our operations in In a world that is rapidly urbanizing—according to UN Habitat,
Argentina, North America and Spain, and there is a 68% of the world’s population will be living in cities by 2050—
movement to regulate emissions in other countries, concrete is considered the best material to meet the need for BRAZILIAN INITIATIVE
including Brazil. Even in countries where regulation is housing and infrastructure. Only one resource is more consumed IN SUPPORT OF THE
not in place, our strategic planning process considers than concrete in the world: water. That is because concrete is VOLUNTARY CARBON MARKET
potential impacts and an internal carbon price to assess an abundant, accessible and resilient product with numerous
the attractiveness of projects. We have R$1.5 billion applications. Its main qualities are versatility, durability, resilience
forecasted for investment in decarbonization projects and resistance to fire, temperature changes and flooding. It Aiming to contribute to the evolution of the
in the next five years. provides excellent thermal insulation in buildings (which reduces voluntary carbon market, we joined Votorantim
energy consumption) and rigidity in road surfaces (which S.A. and other companies from different
increases vehicle efficiency). Therefore, concrete is considered a industries in the Brazilian Initiative in Support
highly sustainable product. of the Voluntary Carbon Market. The goal of
this group, in which McKinsey & Company is
“We recognize our As part of our search for more sustainable solutions to produce, the knowledge partner, is to contribute to
commercialize and use our products in different applications, we the development of the sector in Brazil and
responsibility and must
were one of the founders of the Global Cement and Concrete leverage the country’s position in international
position ourselves as industry Association (GCCA) and, together with other companies in the markets. The main deliverables planned
leaders, directing our efforts industry, we work tirelessly toward our goals. In 2021, the include a proposal for practical strategies to
GCCA launched a detailed roadmap that guides the efforts to overcome the biggest barriers to this market,
and investments toward produce carbon-neutral concrete by 2050. In 2022, during Middle including mechanisms to activate high-integrity
fighting climate change. In line East and North Africa Climate Week (MENA), the organization supply and demand and governance initiatives.
launched a plan to accelerate the 2050 carbon-neutral concrete According to a study by McKinsey, Brazil has the
with this strategy, we have just roadmap. The initiative will be implemented in waves and potential to generate up to 15% of the world’s
completed the acquisition of aims to support cement and concrete companies in their local voluntary credits through natural solutions.
implementation of the global roadmap. In 2022, we helped to These include carbon sequestration via
one of the most modern plants promote the vision and approaches outlined in the Portland reforestation, agroforestry systems in degraded
in Spain, which will contribute Cement Association’s (PCA) roadmap to Carbon Neutrality in areas, the conservation of forests threatened by
North America and joined efforts with the Brazilian Cement deforestation and intensification of low carbon
to accelerating our Association (SNIC), Brazilian Portland Cement Association (ABCP), agricultural practices in large farming areas.
decarbonization journey.“ the Brazilian Concrete Institute (IBRACON) and other companies
Jorge in the industry to develop a roadmap to carbon neutrality in
Jorge Wagner, CEO of VCEAA. Brazil, a study that will be published in 2023.
30
ESG ratings
–
We continued to make progress related to risk assessments performed by rating agencies specialized in environmental,
social and governance (ESG) issues. We also maintained our high score by CDP, a non-profit organization that runs a global
disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.
A- A 52/100 21.3 TOP RATED

ESG OVERALL SCORE
CCC B BB A AA AAA
RELATIVE PERFORMANCE
CDP MSCI ESG¹ Moody’s ESG Solution² Sustainalytics Sustainalytics Recognition³
For the fifth consecutive year we have Our performance in 2022 In 2022, we received a 52/100 score, an Our ESG Risk Rating was 21.3. The score We were recognized by Sustainalytics
maintained our assessment by CDP in the MSCI ESG Rating was improvement compared to the 50/100 represents a medium risk according as an ESG Industry Top Rated
as one of the best companies in the upgraded from BBB to A. score we received in 2021. The Moody’s to the Sustainalytics methodology. company, a distinction given to
Climate Change Program. Our score ESG Solution methodology places this companies that strongly outperform
of A- placed us as the best cement score at the “Robust“ level. in their respective industries.
company in Brazil and one of the top
10 in the industry worldwide.
https://www.cdp.net/en/ https://www.msci.com https://esg.moodys.io/ https://www.sustainalytics.com https://www.sustainalytics.com
¹ The use of any data from MSCI ESG research LLC or its affiliates (“MSCi“) by Votorantim Cimentos, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of
Votorantim Cimentos by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided “as-is“ and without warranty. MSCI names and logos are trademarks or service marks of MSCI.
² This ESG Assessment was originally conducted by V.E, which is now part of Moody’s ESG Solutions
3
Copyright ©2021 Sustainalytics. All rights reserved. This section contains information developed by Sustainalytics (www.sustainalytics.com). Such information and data are proprietary of Sustainalytics and/or its third-party
suppliers (Third Party Data) and are provided for informational purposes only. They do not constitute an endorsement of any product or project, nor an investment advice and are not warranted
to be complete, timely, accurate or suitable for a particular purpose. Their use is subject to conditions available at https://www. sustainalytics.com/legal-disclaimers.
31
06.
Corporate
Governance
■ Ethics and Compliance
■ Risk Management
■ Crisis Management
Employee in one of
our plants in Brazil
06. CORPOR ATE GOVERNANCE
Corporate Governance
–
GRI 2-9, 2-17, 3-3_205_415
Ethics and integrity are part of Our Way of Being and values Important decisions were made as a result of this more in-depth
that we do not compromise. To further strengthen this aspect assessment: update of the Board’s bylaws, implementation of a
of our culture, we have a solid corporate governance structure continuing education program for Board members, creation of an
that matches the standards and best practices adopted by annual thematic agenda, decision to create the Sustainability and
publicly-traded companies, ensuring compliance, transparency Innovation Committee, the consolidation of some of the working
and integrity in all our operations. The Corporate Governance, groups (WG) and the implementation of a new rule establishing
Risks and Compliance & Internal Audit department (GRC&IA) that all Committees must have at least one Board member in
reports directly to the Chairman of the Board of Directors and their composition.
the Audit Committee, and, administratively, to the Global CEO.
In addition, in 2022 we implemented Policy 001, which
The Board of Directors is our highest governance body; it works as an umbrella for internal policies—more specifically
is advised by the Audit Committee, Finance Committee and corporate policies. It sets the guidelines for the development
Compensation and People Committee. In 2022, the Board and review of policies (including our Code of Conduct),
approved the creation of a Sustainability and Innovation establishing that they must be reviewed every three years and
Committee, which will support the Board of Directors on the confirming the required levels of approval.
implementation of the ESG agenda within the organization
starting in 2023.
Aiming to identify and discuss best practices and raise the

level of maturity regarding governance within the company,
in 2022 we carried out a self-assessment of the Board of
Directors with the support of an external consultancy. The
assessment was made through a questionnaire and interviews
with members of the Board and C-level executives who
interact with them.
Employees in
the Tenerife
plant, Spain 33
Board of Directors Committees

GRI  2-9, 2-11, 2-10, 2-12, 2-13, 2-14, 2-18
Audit Committee – Composed of four members (one Organization, Compensation and People Committee –
The Board of Directors is composed of seven members, independent member of the Board of Directors, two Composed of four members, three of whom are independent,
four of whom are independent (including the Chairman). All independent non-director members and one representative including its coordinator, and three are also members of the
members are elected after an evaluation process and serve a of the controlling shareholder). In line with best practices in Board of Directors, this Committee assists the Board on the
term of office of two consecutive years; none of them hold an governance, Clarissa Lins, an independent Board member, proper monitoring of issues related to compensation models,
executive position in the company. Internally, the Corporate joined the Audit Committee in 2022. The Audit Committee is appointment of management candidates, succession plan and
Governance area advises the Board of Directors and other responsible for assisting the Board on the proper monitoring corporate culture.
governance bodies, seeking to incorporate best practices into of issues related to business continuity, effectiveness
the company’s everyday activities. The performance of the and integrity of internal controls, risk identification and Sustainability and Innovation Committee – The Board of
Board is periodically assessed by a specialized independent management, quality and integrity of financial reports, Directors decided that this Committee, which was created at
consultant. and work carried out by external auditors. It also oversees the end of 2022, will start meeting in 2023. The committee
the company’s compliance with all up-to-date accounting is currently made up of two independent members (who
The Board of Directors is responsible for monitoring strategic standards that corporations are required to follow. This are also Board directors, including the coordinator) and a
issues and setting policies to ensure agility and efficiency in review takes place during the fiscal year, as well as prior to the shareholder representative. A fourth independent member is
decision-making. It proposes initiatives while also supervising publication of financial statements. In addition, the Committee in the process of being identified and elected. This Committee
ongoing projects through periodic reports from different recommends the GRC & Internal Audit officer (non-statutory). will support the Board of Directors on topics related to
areas, such as Sustainability, Government Relations, Legal, and decarbonization and ESG. It will also support the monitoring
Corporate Governance, Risks and Compliance, Ethics Line & Finance Committee – Composed of four members—two and implementation of key innovation initiatives.
Internal Audit. The Global CEO is responsible for executing the Board members (one of them an independent member)
Board’s decisions and managing the company’s impacts on the and two non-Board members (one of them an independent
economy, the environment and society. member)—the Finance Committee is responsible for assisting
the Board on the assessment and monitoring of financial
issues, including the analysis of macroeconomic factors that
may affect the company, the definition of financial guidelines
(such as cash and liquidity management guidelines), and the
monitoring and evaluation of risk mitigation alternatives.
The Global CEO is responsible for
executing the Board’s decisions
and managing the company’s
impacts on the economy, the
environment and society.
34
Statutory Board of Officers

The Statutory Board of Officers is currently composed of four
members, who are elected by the Board of Directors to serve a Shareholders
term of office of two consecutive years, with the possibility of
being reelected. Guided by the company’s by-laws and under
the supervision of the Board of Directors, the Statutory Board of Board of Directors
Officers implements the company’s corporate purpose, as well as
the mission, vision and values that guide our short- and long-term
strategic objectives. It is composed of the Chief Executive Officer;
Vice President of Finance and Investor Relations Officer; Cement, Organization, Sustainability and
Finance Audit
Logistics and Adjacent Business Officer; and Commercial and Compensation and Innovation
Committee Committee
Ready-Mix Operations Officer. People Committee Committee
GRC and IA Officer¹
Statutory Board of Officers

Votorantim Cimentos
Vice President of Cement, Logistics Commercial

Chief Executive
Finance and Investor and Adjacent and Ready-Mix
Officer
Relations Officer Business Officer Operations Officer
¹GRC and IA: Governance, Risk, Compliance and Internal Audit.
The composition of our governance bodies can be found in more detail on our Investor Relations website.
35
Ethics and Compliance

–
GRI 3-3_205_206
At Votorantim Cimentos, we believe that just as important as our culture, within the framework of our governance, and each
our results is the way by which we achieve them. As established employee’s responsibility. It starts at the Board of Directors and
by Our Way of Being (the first part of our cultural evolution includes the Committees that advise the Board of Directors, the
journey, known as Our VC Way), we value our rich and expressive Board of Officers and all areas of Votorantim Cimentos.
entrepreneurial essence. In this context, ethics, integrity and
transparency are not only non-negotiable but also a way to The Compliance area is responsible for overseeing the program
ensure business perpetuity. by monitoring its effectiveness, seeking to continuously
improve it, properly cascading it to the different parts of
Our Compliance Program applies to the entire company and the organization and ensuring that appropriate measures
covers all our obligations (internal and external, voluntary are taken in cases of non-compliance. Equally as important,
and strategic). It is based on our Code of Conduct and Our VC our culture of ethics and integrity is reflected in the day-
Way and organized around seven major pillars: (a) Laws and to-day conduct of our employees, who continuously take
Regulations; (b) Licenses, Authorizations and Certifications; (c) this commitment to heart as we conduct business in diverse
Contracts and Agreements; (d) External Reports; (e) Antitrust; international markets. As a support department, Compliance
(f) Loss and Fraud Prevention; and (g) Anti-Corruption. works side by side with Legal, Risk Management, Internal
We believe that conducting business with integrity, ethics and Controls, People Management, Internal Audit and the Business
compliance with applicable laws and requirements is part of Ethics Commission.
“We are committed to always choosing the right path, even if it is longer,
more difficult or less profitable. The right path is the one that drives us
to honor our sustainability commitments, strengthens our relationships,
and guides our decisions and the creation of our legacy.“
Employee in
Adjarbas Guerra Neto, global director of GRC&IA. our McInnis
plant, Canada
36
Policies and Commitments GRI 2-15, 2-23, 2-24, 3-3_205_206_415 Education

As a company operating internationally, we are mindful of and The VCBR Government Relations Manual also has regional In 2022, as part of our continuous improvement process, we
subject to the laws and regulations of the various countries versions that address VCNA’s and VCEAA’s local legal updated our Compliance Program Booklet to include Our VC
where we are present and we are committed to following, requirements. All employees who interact directly with Way, the Ethics Line new version and the three lines of defense
supporting and, in certain cases, going beyond international public agents when performing their activities have mechanism. We also revised our Conflict of Interest Policy to
standards and practices, such as the principles of the United received specific training. reinforce roles and responsibilities, update the frequency of
Nations Global Compact and the United Nations Universal conflict of interest declarations according to each targeted
Declaration of Human Rights. We are signatories of the Letter of Commitment of the audience, and highlight the appropriate channels to report
Business Movement for Integrity, Transparency and Anti- conflicts of interest.
Our Code of Conduct is the key document from which Corruption. Through it, we have furthered our commitment
other policies derive. We have global policies that regulate to adopting practical measures to fight corruption in the We believe that misconduct must be addressed through
several practices: Anti-Corruption; Gifts, Entertainment and business environment and in public-private relationships. corrective measures to retrain behaviors, stop noncompliance
Hospitality; Conflict of Interests; Donations and Sponsorships; Unfair competition is an equally important topic for us. Since and prevent situations from happening again. Although this
Government Relations; Third Parties Integrity Assessment; 2021, all new employees have been required to sign our issue has been addressed through our Code of Conduct and
Trade Compliance Handbook; and Competition Handbook. Competition Handbook when they are hired. several specific procedures, to strengthen the process and
better communicate with our employees and leaders, in
Contributions to political campaigns or party causes are 2022 we launched our Disciplinary Measures Policy, which
addressed and prohibited by our Government Relations Policy. includes all the important guidelines and measures to be taken
When allowed by local legislation, they can only be made after according to each type of deviation.
an assessment by the Compliance, Legal and Government
Relations areas, strictly in accordance with legal definitions, All policies must always be supported by training and
in a transparent manner and properly registered in the communications as a strategy to reinforce guidelines and
company’s official systems. In 2022, no political contribution cascade them on a practical basis. Therefore, we continuously
was made. maintain an education program based on the risk employees
are exposed to as part of their roles. In 2022, 98% of our
employees were trained on our Code of Conduct.
We are mindful of and subject to the laws and regulations
of the various countries where we are present and we are
committed to following, supporting and, in certain cases,
going beyond international standards and practices. Click here to read our Code of Conduct.
37
Initiatives 4. Anticorruption risk assessment: Like any other legal entity,

our businesses involve occasional interactions with the public
In addition to everyday activities and responsibilities, the main sector. Therefore, in addition to the compliance evaluations
activities carried out by the Corporate Governance, Risks and incorporated into the company’s daily processes, in 2022, we
Compliance & Internal Audit (GRC&IA) Department in 2022 included: conducted (i) a specific risk assessment within highly-exposed
departments at VCNA focused on mapping interactions with
1. Continued education: (i) launch of a Government Relations the public sector to enable us to evaluate them, assess our
e-learning program with a specific focus on the company’s level of control and identify our company representatives
leadership and positions, as identified through an anticorruption involved in these interactions to receive supplemental training
risk assessment; (ii) launch of a Trade Compliance e-learning on anticorruption issues; and (ii) a Compliance Heatmap created
program addressed to highly-exposed positions such as imports using big data to inform company-wide initiatives.
and exports departments; (iii) launch of new Antitrust and
Anticorruption training modules as well as a recycling strategy 5. Donations & Sponsorships: launch of the Donations and
based on a risk exposure analysis; (iv) customized training Sponsorships Platform to ensure an effective workflow of
on critical compliance policies for the company’s different approvals and risk analyses, and to document and confirm the
businesses, according to the needs identified by Internal Audit proper destination of approved transactions.
and the Business Ethics Commission.
6. Awareness campaigns: Campaigns to publicize the new Ethics
2. Conflict of interest: launch of a Conflict of Interests Declaration Line, including videos, internal posts, posters in our sites,
Platform, available to all employees. This tool complements our workshops and messages sent by leaders at internal events.
established Ethic Line by optimizing processes through increased
transparency and formal responses to cases with guidance to 7. Fraud prevention: Intensification of activities to identify
employees, which includes the management of action plans and address misconduct and fraud, in partnership with public
and process documentation. The People Management area and security agencies, including the implementation of new
company leaders received training on the new platform and technologies and tools to prevent and address procedures that
on conflict-of-interest content, including information on the are not in compliance with company guidelines.
determinations of the Federal Law on Conflict of Interests.
8. Implementation of continuous audit processes: Creation of
3. Third parties: (i) implementation of a third-party due diligence methods based on business and corporate guidelines to regularly
process at VCEAA; (ii) reevaluation to inform the review of monitor transactions that are relevant or risky. We are gathering
suppliers’ risk categories; (iii) improvement of the supplier due insights from unusual transactions to enhance controls, improve
diligence process through the implementation of a systematic compliance requirements and help manage processes to avoid or
Employee in the Toral
approval flow. address anomalies. de los Vados plant, Spain
38
Compliance Day
For the sixth consecutive year, we hosted global and regional Compliance Day.
In 2022, activities took place in the last quarter of the year in VCBR, VCEAA,
VCNA and VCI. All Compliance Day activities were broadcasted in real time to all
employees in each region and included messages from our Chairman, the Audit
Committee Coordinator and our global and regional top management. To reach
the highest number of employees, the events remained available on an internal
platform for on-demand access.
The main message conveyed was that compliance is simple and is in our hands.
We reinforced our pride in the positive legacy created by the company and
its employees through almost nine decades and highlighted the important of
continuous engagement to be in constant evolution. Employees were invited to
reflect on how the behavior of each individual directly impacts collective interests
and the common good of the enterprise. Therefore, keeping our guard up, acting
and making decisions in an ethical manner and even avoiding omissions through
regulatory compliance are actions that must be taken for the benefit of everyone
around us.
The event reinforced our internal commitment to our colleagues, team partners
and leaders, as well as our responsibilities toward our external stakeholders,
including contractors, suppliers, service providers, competitors, customers and
the communities that surround our operations. Through activities and discussions,
employees were reminded that it is up to us to maintain a safe and healthy business
environment, promote open dialogue and create shared value. Activities that were
held to ensure the engagement of all employees included practical case studies
presenting compliance dilemmas and a “best sentence“ contest answering the
question “How is compliance in your hands?“.
Employees in the McInnis

plant, Canada How is compliance in your hands?
Theme of Compliance Day 2022
39
Ethics Line
GRI 2-26
We believe that transparent, open dialogue is the best way to solve

problems. Therefore, we encourage employees to express their
concerns directly to their leaders or responsible areas (in the case
of legal or compliance issues, for example). However, we know that,
in some situations, employees may not feel comfortable discussing
an issue with internal personnel. The Ethics Line is an important
alternative in such cases—it is available 24 hours a day, seven days
a week, to receive anonymous reports. Company and contracted
employees and anyone who interacts with our operations can
report suspected misconduct or irregularities (corruption, bribery,
discrimination, harassment, etc.) or make inquiries about our Code
of Conduct.
Employees in
our Corporate
Office in São
In early 2022, important improvements were made to the Ethics Paulo, Brazil
Line. The service is managed by a new independent external provider
(Contato Seguro) and is now closer to the source of complaint.
Interpreters are no longer used and the attendants are mostly
psychologist and lawyers. Users continue to be able to interact
with the Ethics Line in Arabic, English, French, Portuguese, Spanish E-LEARNING TRAINING
and Turkish, and choose whether or not to identify themselves. In
addition, we created a portal to register and follow up on reports that At VCBR, as part of the continuous training of professionals
is simpler and more inclusive for people with disabilities. who work with the Business Ethics Office, we created the
e-learning training module “Corporate investigations: how
The Ethics Line process ensures that all information remains within to investigate complaints of harassment, discrimination and
the specialized company, which screens all reports and forwards retaliation in the workplace.“ All Business Partners (BPs)
the complaints to the responsible area at Votorantim Cimentos, the in the People Management area who lead or support the
Global Business Ethics area, which is part of the Global GRC & IA investigation of reports of harassment, discrimination and
organization. We have channels available in the 11 countries where we disrespect received by the Ethics Line were trained in 2022.
are present. More information is available on our Ethics Line website. Starting in 2023, training will be mandatory for new BPs
who will be participating in future investigations.
40
Risk Management
– Climate Risk Management
GRI 2-12, 2-16 Our climate risk management process is based on the
recommendations of the Task Force on Climate-Related
Our risk management process is based on the ISO 31000/18 Annually, or whenever required, the risk management process is Financial Disclosure (TCFD), a business transparency
standard and on the recommendations of the Committee of detailed and presented to the Audit Committee and the Board initiative that we have been involved with since 2020
Sponsoring Organizations of the Treadway Commission (COSO), of Directors, from a global perspective. and have formally supported since 2021.
and focuses on risk identification, assessment and response.
In 2022, we implemented a new system, VC Risk We map transition risks related to greenhouse gas
The identification of risks that can affect company goals is Management. It aims to automate our management process, emissions and the consequent increase in costs and
carried out through the analysis of indicators, questionnaires from risk identification to the conclusion of action plans, losses. Our analyses include technological aspects, such
and interviews with operational and corporate areas, following ensuring information traceability using transparent, efficient as a potential overdependence of the industry on newer
a bottom-up and top-down approach. Risks are analyzed and and simple management. To support employees involved in technologies (carbon capture and sequestration, for
classified according to their likelihood and impact, as per the this process, we conducted in-person workshop sessions example). We also evaluate regulatory risks, such as carbon
risk appetite updated and approved by the Board of Directors in and launched a mandatory Enterprise Risk Management pricing mechanisms both in countries where regulations
2022. After classification, the risk response is determined, and e-learning program for Votorantim Cimentos leaders already exist (for example, Argentina, North America and
the responsible areas develop action plans to prevent the risks and other identified functions. More than 80% of eligible Spain) and in countries with no official mechanisms in
and mitigate their potential impacts. The risks and action plans employees have been trained. Initially implemented as a pilot place (e.g., Brazil). Finally, we consider physical risks related
are monitored and periodically reported to the GRC & IA area project in Brazil, the new system will be furthered studied to to exposure to losses caused by the physical effects of
and to the leadership team, according to their classification. be cascaded to other countries. climate change, such as droughts, rains and extreme
weather events.
Conversely, the transition to a low-carbon economy

In 2022, we implemented a new system, offers business opportunities to our cement and concrete
operations. Known for its excellent durability, versatility
VC Risk Management. and resistance, concrete is considered a sustainable
material with characteristics that make it resistant to
fire, weather and floods, an important advantage in an
environment threatened by climate change.
Employee in our Corporate
Office in São Paulo, Brazil
41
TCFD Dimensions
GRI 201-2
Risk Management
Governance Climate-related risk identification,
Board oversight management and monitoring
Read more in Corporate Governance Governance Read more in Risk Management
Governance around climate-related Read more in Circular Economy
The role of management risks and opportunities Read more in Sustainability and 2030
Read more in Corporate Governance Commitments
Integrated Report: page 33 General risk integration

Read more in Risk Management
CDP: items C1.1, C1.2, C1.3
Strategy Integrated Report: page 27, 28, 71
The actual and potential impacts of climate-
related risks and opportunities on the CDP: items C2.1, C2.2, C2.3
organization’s businesses, strategy and
Strategy financial planning
Metrics and Targets
Risks and opportunities
CO2 targets report
Read more in Sustainability and 2030
Read more in Progress Toward our 2030 Targets
Commitments
Risk Management Read more in Annex GRI and SASB
Read more in Risk Management
Read more in The Path to Decarbonization The processes used to identify, assess
and manage climate-related risks Details of scopes
1, 2 and 3
Financial and business impact
Read more in Circular Economy
Read more in Financial Management
Read more in Monitoring our 2030 targets
Scenarios
Climate-related targets
Read more in Financial management
Metrics and Targets Read more in Monitoring our 2030 targets
Read more in Sustainability and 2030
The metrics and Read more in The Path to Decarbonization
Commitments
targets used to assess
and manage relevant Integrated Report: page 28, 71, 92, 94
Integrated Report: page 27, 28, 41, 44
climate-related risks and
opportunities CDP: items C4.1, C4.2, C4.3, C5.1, C6.1, C6.2
CDP: items C2.1, C2.2, C2.3, C2.4, C3.1
42
Internal Audit Crisis Management

– –
In 2022, we improved the process to create our Global Internal Audit A company’s exposure to risks is an increasingly complex
Plan by refining the criteria for prioritizing the audits that are selected, issue that requires intense risk management, continuous
considering aspects such as classification in the risk matrix, historical assessment and a rapid response to potential crisis scenarios. We
audit assessments and investigation procedures, insights from company have an organization dedicated to the crisis management process
executives and complaints received through the Ethics Line. The Annual that coordinates the execution of business continuity plans for
Internal Audit Plan is recommended by the Audit Committee and different types of events. By acting in response and recovery, our
approved by the Board of Directors annually. approach aims to mitigate possible short-, medium- and long-
term impacts on our assets, business, people and reputation.
We implemented a hybrid work model for office employees in different
countries and for different processes and business units, to optimize The coronavirus pandemic forced us to proactively adapt over
certain assessments that could benefit from increased in-person the past few years, with ongoing monitoring of cases and trends
attention and interaction. in the different regions where we operate. This has taught us
important lessons, enhanced our ability to respond and adapt and
We expanded the scope of our assessments, including audits in is guiding us in the review of the different operating strategies of
occupational safety protocols aimed at increased acculturation and the area.
contribution to accident prevention. We also evaluated controls
related to environmental and cybersecurity issues. We improved our We monitor, in real time, potential issues that may trigger crisis
performance by adopting more preventive approaches, using tools and scenarios and focus our efforts on preparing the company, in
technologies to identify and address non-compliant procedures. a clear and objective way, to respond to these situations with
increased efficiency and agility.
We also continued to share best practices among the different cement
sites, promoting forums to discuss improvement opportunities and self-
verification on non-audited sites, and we enhanced our governance and
the implementation of comprehensive action plans. These initiatives
are in line with our business transformation strategic pillar, in which
we combine technology and innovation with compliance and ethical
conduct in our businesses.
43
07.
Financial
Management
■ Solid Results
■ Performance by Region
Employee in our Corporate
Office in São Paulo, Brazil ■ ESG Financing
07. FINANCIAL MANAGEMENT
Solid Results
–
GRI 2-1
The year 2022 was marked by a challenging global economic We maintained our growth and positioning strategy through the
environment due to the negative effects of the war in Ukraine, conclusion of the 2021 acquisitions and business combinations—
sanctions imposed on Russia by the United States and the European McInnis Cement, in Canada; Superior Materials and Valley View, in
Union countries, new lockdowns in China to stop the spread of the United States; and Cementos Balboa, in Spain—integrating
COVID-19 and economic recession in some of the countries where processes and employees and making investments to improve
we operate. As a result of these challenges, the world faced a the operational and environmental performance and efficiency
new crisis in global supply chains with a significant impact on the of these businesses. At the end of 2022, we completed the
availably of certain equipment and replacement parts, as well as acquisition of the operations of Heidelberg Materials in the south
on the price of energy, freight, fuels and raw materials. In addition, of Spain, including a modern integrated cement plant located
countries around the world experienced higher-than-expected in the city of Málaga, three aggregate quarries and 11 concrete
inflation as a consequence of macroeconomic effects of the plants in the Andalusia region.
COVID-19 pandemic. The combination of these negative impacts
forced governments to implement tighter monetary policies.
Despite these challenges, we demonstrated operational and financial “We managed the business in
resilience through cost management and achieved solid results alignment with our VC 2030
throughout the year. We ended 2022 with net revenue of R$25.8
Strategic House, operating
billion (16% higher than 2021), primarily due to price management
that mitigated the slight decrease of volumes and the negative within robust financial
effect of the appreciation of the real in our operations abroad. In metrics and high liquidity,
total, we sold 36.8 million tonnes of cement, 1% less than in 2021
(37.2 million tonnes). Our adjusted EBITDA (earnings before interest,
which enabled solid results
taxes, depreciation and amortization) was R$4.9 billion, 6% lower despite a challenging year.“
than 2021 (R$5.2 billion). Our consolidated operational results were
negatively impacted by pressure on costs and the appreciation of Bianca Nasser,
the real, which were partially mitigated by price dynamics. Global CFO
Employee in our Sivas

plant, Türkiye 45
Performance by Region Indebtedness

In Brazil, the increase in interest rates, inflation and household debt had As a result of the company’s historical financial discipline
Net Revenue
negative consequences to cement consumption in the country. The net and conservative management in the face of the uncertain
(R$million) 25,798
revenue of R$12.7 billion (compared to R$10.3 billion in 2021) and an environment during the year, we maintained strong
25,798 1,432
adjusted EBITDA of R$2.5 billion (an increase of 2% compared to R$2.4 22,296 1,432
812 liquidity, above the minimum cash position required by
22,296 960 3,380
812
billion in 2021) resulted primarily from price dynamics and growth in adjacent 978960 3,380 our financial policy. Considering our well-managed and
2,915
978 7,448
businesses, which offset the slight decline in volume during the year. The 16,740 long debt maturity profile, the main initiatives in 2022
453 2,915 7,448
16,740 825 7,129
decrease in cement demand was due to a slowdown in the self-construction 453
2,129 7,129 included occasional and opportunity-driven liability debt
825
segment, as a result of a challenging macroeconomic environment, and was 2,129
5,429 12,726 management transactions focused on equalizing the cash
5,429
partially offset by the real estate and infrastructure segments. 10,314 12,726 generation and debt exposure currencies to mitigate
10,314
7,904 volatility in our balance sheet.
7,904
In North America, our net revenue in 2022 was R$7.5 billion, 4% higher
2020
2021
2022
2020
2021
2022
than in 2021, due to increased volume and positive price dynamics. On the As an example, in 2022 we repurchased a US dollar-
other hand, cost inflation, operational challenges, the harsh winter at the denominated bond due in 2041 through a market
VCBR VCNA VCEAA VCLATAM Others ¹
beginning of the year and the appreciation of the real negatively impacted VCBR VCNA VCEAA VCLATAM Others ¹ repurchase offer (tender offer) using resources from the
1
Net revenue mainly from Votorantim Cimentos Trading.
the operating results, leading to an adjusted EBITDA of R$1.6 billion, down 14th issuance of a debenture in the Brazilian market, at
1
Net revenue mainly from Votorantim Cimentos Trading.
15% compared to R$1.8 billion in 2021 a competitive cost. These liability management efforts
contribute to reduce the debt costs and improve the
Over the past two years, we strengthened our presence in Spain by currency equalization of our debts.
acquiring Cementos Balboa in 2021 and completing the acquisition of the Adjusted EBITDA
operations of Heidelberg Materials in the south of Spain in 2022. As a result (R$million) On December 31, our leverage ratio (net debt/adjusted
of these movements in the market, despite the complex macroeconomic 5,247 EBITDA) was 1.55x, the same as in 2021. This reflects
5,247 165 4,920
237 52
environment, cost pressure and appreciation of the real during the year, 165 4,920 138 our positive operational results during the year and our
562
237 52
676
138
VCEAA experienced important growth in 2022. Net revenue grew 16%, 3,837 562
1,839 676 financial discipline, despite the increase in Capex, payment
178 1,558
from R$2.9 billion in 2021 to R$3.4 billion in 2022, with R$676 million 3,837 199 1,839 of dividends to the shareholder and the acquisition of the
178 1,558
453
adjusted EBITDA (20% higher than R$562 million in 2021). 199
453
operations in Spain. The ratio is still aligned with our internal
1,463
1,463 2,496
financial policies and investment grade credit metrics.
2,444
At VCLatam, we faced challenging market dynamics in both Uruguay, where a 2,444 2,496
new player entered the market in 2021, and in Bolivia, where the economy was 1,544
1,544
affected by general strikes in the end of the year. Net revenue in the region
2020
2021
2022
2020
2021
2022
was R$812 million (17% less than R$978 million in 2021), with R$138 million
adjusted EBITDA (a 42% decrease compared to R$237 million in 2021).
VCBR VCNA VCEAA VCLATAM Others 2
VCBR VCNA VCEAA VCLATAM Others 2
2
Adjusted EBITDA mainly from received dividends and non-recurring items.
2
Adjusted EBITDA mainly from received dividends and non-recurring items.
46
ESG Financing
In 2019, Votorantim Cimentos was one of the pioneers in the issuance of debt linked to sustainability indicators. Since then, ESG
instruments have been a strong focus of the treasury strategy and have become more relevant in our debt position.
In 2022, the company performed two sustainability-linked transactions: it entered into a US$300 million committed credit
facility with a bank syndicate and issued its 14th debentures in the local capital market in the amount of R$1 billion. The main
ESG indicators linked to our credit lines are the reduction of net greenhouse gas (GHG) emissions and thermal substitution.
Sustainability-linked financing history
Bilateral Loan Bilateral Loans ESG Debenture Committed Credit Facility

€50 million €125 million R$500 million US$300 million
KPI 1: ESG rating KPI 1: Thermal substitution KPI 1: Thermal substitution KPI 1: Reduction in net GHG emissions
KPI 2: ESG rating KPI 2: Reduction in net GHG emissions KPI 2: Thermal substitution
Aug 2019 Nov 2020 Feb 2021 Jul 2021 Sep 2021 Oct 2021 May 2022 Jun 2022
Committed Credit Facility ESG Debenture RCF Global ESG Debenture

US$290 million R$450 million US$250 million R$1.0 billion
KPI 1: Reduction in net GHG emissions KPI 1: Thermal substitution KPI 1: Reduction in net GHG emissions KPI 1: Reduction in net GHG emissions
KPI 2: Thermal substitution KPI 2: Reduction in net GHG emissions
KPI 3: Clinker factor in cement
KPI 4: ESG rating
47
Investments Ratings
During the year, we continued to invest in sustaining & Despite the highly volatile global environment, we were able
modernization and expansion, with Capex investments totaling to maintain our credit ratings in 2022. Moody’s, S&P and Fitch
R$2 billion (36% higher than in 2021). Since 2021, we have maintained our investment grade rating. We are one of the
invested US$40 million in a modernization project in Uruguay, few Brazilian companies with an investment grade rating by
which included optimizing our cement griding site. The project the three main credit rating agencies, substantiating our solid
onified our industrial operations in the country, concentrating business position and the strong liquidity of our operations.
our industrial activities in the town of Minas (100 kilometers
from the capital Montevideo), thereby driving efficiency and
Moody’s Fitch S&P
sustainability. The inauguration of the new facility is scheduled
Rating Baa3 BBB- BBB-
for January 2023. In addition, we are investing in the
Outlook Stable Stable Stable
expansion of our operations in North America to marginally
optimize our production capacity. Date Jun 2022 Jul 2022 Mar 2022
Capex investments
(R$million)
2,006
“Our investments are fully aligned
1,479 with our Strategic House and are aimed
1,136 at increasing our competitiveness
and operational efficiency, while also
leveraging decarbonization initiatives
in all regions where we operate.“
Osvaldo Ayres, Cement, Logistics and Adjacent Business
2020 2021 2022 Officer.
Superior Materials
concrete truck,
United States 48
08.
Employee Caring
for People
in our Rio
Branco do Sul
plant, Brazil
■ Respect and Appreciation
■ Safety, Health and Well-being
■ Diversity
■ Training and Development

08. CARING FOR PEOPLE
Respect and Appreciation

–
GRI 2-7, 3-3_401_403_405
ONLINE ASSESSMENT
Caring for people is essential and an integral part of our
culture. In the 11 countries where we are present, we Many of our employee activities and
continuously strive to have inclusive practices to create initiatives are assessed through PulsoVC,
healthy work environments, where everyone can be who a quick survey tool to continually measure
they are, without judgment and with respect and genuine leadership, culture, organizational climate
Employees
appreciation. More and more, we seek to create an in our Rio and engagement. It enables us not only
environment of connection among all employees, enabling Branco do Sul to diagnose points for attention and
the company to evolve and become more modern, attractive plant, Brazil improvement, but also to prepare and
and able to retain the best talent. We know that achieving monitor specific action plans to adapt our
our future business ambition will be challenging, but we are strategies and establish a more inclusive
Employees
VCBR by region1
convinced that we have the right people to succeed, with VCNA culture and practices.
courage to challenge the status quo, transform and thrive. VCEAA
GRI 2-7
VCLATAM PulsoVC is much more than a climate survey.
13,089
At Votorantim Cimentos, our people management practices 12,466 388 It is a continuous engagement tool that
11,783 393 1,538
focus on safety, health and well-being. Throughout our 390 1,396 was piloted by several of our departments
1,339
operations, we strictly comply with labor and regulatory 2,668
2,678
and businesses in Brazil in 2022. Our other
2,418
obligations and local laws. We respect our employees’ freedom regions are evaluating similar tools to
8,485
of association and do not tolerate anti-union practices. 7,636
8,009 be implemented in the future. Quick and
practical questions regarding organizational
We ended 2022 with a total of 13,089 employees—5% more climate, management processes, career
VCBR
than in 2021 (12,466). One example that reflects our inclusive VCNA plans and work environment can be posted
practices, to make Votorantim Cimentos increasingly diverse, and answered every 30 days, producing
2020
2021
2022
VCEAA
is a 1% of increase in the number of women in leadership VCLATAM relevant information and reflecting the
positions in the company (from 20.2% in 2021 to 21.0%). ¹Company employees only
13,089
dynamism of our time.
12,466 388
11,783 393 1,538
390 1,396
1,339 2,678
2,668
2,418
8,485
8,009
7,636
50
Safety, Health and Well-being

–
GRI 3-3_403, 403-1, 403-2, 403-3, 403-4, 403-5, 403-6, 403-7
Safety, health and well-being are non-negotiable values that 1. Observe and respect the law and regulatory requirements All employees and contractors must follow the guidelines
we do not compromise. People are our most valuable asset relating to occupational health and safety. established by the Global Health and Safety Policy and
and Our Way of Being is ethical and respectful. We promote undergo proper training to execute their activities in
2. Incorporate illness and accident prevention in all processes
a culture of safety—at home and at work—as a commitment accordance with the laws of each country. To ensure that our
involving our employees and contractors.
from each of us, and we continually invest in preventing service providers also adopt best practices in safety, we have
injuries, eliminating fatalities and ensuring a safe work 3. Strictly comply with our Critical Risk Protocols and Life- tools and a Contractor Management Manual with safety rules
environment. Saving Rules; full compliance is a condition of employment. that must be followed by our business partners.
4. Provide training on occupational health and safety as part

“We believe that we cannot achieve excellence or remain
of the professional development of our employees.
competitive if we fail to consider the health and safety of
our employees, partners and the general public. We are all 5. Audit and evaluate the effectiveness of preventive
responsible for ensuring safety and well-being,“ said Dirlane measures against accidents at work.
Albino, Safety and Environment manager. Employees are
6. Seek continuous improvements, aiming at zero accidents
encouraged to say something if they see something, and we
and illnesses at work.
have a Global Health and Safety Policy and Life-Saving Rules
that provide guidelines on how to manage safety globally. This 7. Implement and monitor proactive indicators with a focus
policy determines that Votorantim Cimentos will: on safe behavior.
“We believe that we cannot achieve excellence or remain

competitive if we fail to consider the health and safety of our
employees, partners and the general public.“
Dirlane Albino, Safety and Environment manager
51
Risk Prevention
GRI 403-2, 403-4, 403-5
Given that each of us plays a fundamental role in ensuring All personal and equipment accidents must
the safety of our operations, we have made several tools be communicated and reported. We also have
and approaches available to support our employees in investigation and treatment systems for any identified
everyday risk prevention: anomaly. Systems such as Portal SIM and the software
tool CAL are used to point out flaws, risks and
| Pre-use checklist: Mechanism for reporting issues or
nonconformities and generate action plans to minimize
concerns with equipment, vehicles and tools.
or eliminate them. In Brazil, workers participate in
| Occupational Hazard and Risk Identification and safety committees through the Internal Commission
Assessment Matrix: Tool used to identify hazards in for Accident Prevention (CIPA, for its initials in
all activities, helping to classify and identify control Portuguese). Also, all employees around the world are
measures, when applicable. regularly trained to perform the functions for which
| Preliminary risk analysis: Enables the assessment they were hired. Emphasis is placed on learning from
of scenarios for the execution of tasks, considering all incidents, and even near-misses.
factors that may increase their risk to help identify
control measures. Focused on risk prevention and mitigation, the
Morocco team internally developed VOTOPROTECT,
| Safety Talks: Opportunity to discuss the main activities
the first lockout/tagout (LOTO) app that directly
planned for the day and steps to ensure that they are
communicates with the plant’s equipment and
carried out safely.
machines. This innovative app informs the control
| Duty to Refuse: Gives permission to employees and room, in real time, if electrical isolation and absence of
contractors to refuse to perform a task whenever the voltage testing have been effectively performed. It also
control measures are insufficient or they do not feel immediately notifies the corresponding supervisors via
confident in performing those tasks. This is a widely email of violations in the LOTO procedure, providing
established practice (and one of the most publicized them the chance to block the start of the equipment.
concepts) within Votorantim Cimentos. This app ensures the correct implementation of the
| Disciplinary Measures: Corrective action for cases LOTO procedure and compliance with our LOTO Critical
when employees operate in situations that may result Protocol requirements.
in accidents (for example, when a hierarchical superior
prohibits or inhibits an employee from exercising his/her
Duty to Refuse).
Employee in one of
our plants in Brazil
52
Safer Together
Creating a safety culture is a continuous journey that requires the At VCEAA, in 2022, we created a descriptive document with
participation of all of us. In 2022, we hosted Global Safety Day in specific procedures to guide our employees on the safe handling
of alternative fuels when carrying out co-processing activities
SAFETY RESULTS
all our sites around the world. This year’s event was planned around
the theme “Safer Together“ and addressed important issues such as in our sites. This initiative was created to address the increased
reporting near accidents, preliminary risk analyses, analyses of key of use of alternative fuels in our cement kilns and our commitment Global frequency
Employees rate1 2
Contractors
indicators and proactive tools. to reinforcing safety in our operations. We also carried out 1.34
1.17
Employees Contractors
audits with IUT (an Austrian consultancy specializing in waste
At VCBR, we continued the Safety Recognition Program and recognized 1.11 0.93
1.34
management planning) and assessed the implementation of our
440 employees throughout 2022. We hosted Internal Occupational 1.17 0.94
Life-saving Rules.
1.11 0.93
Accident Prevention Week (SIPAT, for its initials in Portuguese) virtually
0.94
0.41
around the theme “Safety: this changes the game“. During the week,
we reinforced the importance of safe behavior and risk prevention in Zero fatalities
2020 2021 2022
0.41
all our activities.
We maintain several initiatives and use different tools to prevent
and mitigate potential negative impacts on the health and safety 2020 2021 2022
We expanded the functionalities of the GENU system, implemented
in 2019, to manage our health and safety processes more efficiently. of our employees. Our commitment is to achieve zero fatalities in
The system includes the Professional Social Security Profile, our operations and reduce our accident frequency rate to below
Communication of Occupational Accidents, election process for the 0.4 by 2030. In line with our 2030 Strategy and Our VC Way, in
2022, thanks to the efforts of our employees and contractors
Number of fatalities2
Internal Commission for Accident Prevention (CIPA) and management
of personal protective equipment (PPE) for all our sites in Brazil. The and continued emphasis on safety as our number one value, we Employees Contractors
Practical Safety Guide, launched in 2021, started to be used by all sites celebrated our second consecutive year with zero fatalities in our
1
in 2022 to establish a safe way to carry out industrial activities. operations and reduced our accident frequency rate (employees + Employees
1 Contractors
contractors) to 0.70. This was our best result in the last few years.
1
In partnership with the Procurement area, we launched a new tool called 1
Integra VC. This system aims to simplify the management and engagement In North America, nine of 13 areas extended their track
of our contracted companies, ensuring our partners’ compliance with our records of successive years with no lost-time incidents (LTIs), 0 0
a significant accomplishment when considering the 5.4 million 0 0
safety standards. The tool was implemented in our cement operations in
labor hours performed at the regions’ cement plants, concrete 2020 2021
0 2022
0
2022 and will be expanded to the other business sites in 2023.
yards and aggregates sites during the year. Examples that stand 0 0
2020 the number of lost-time
¹Considers 2021 2022
injuries divided by the total hours
We expanded our Safestart behavioral program across the Brazilian out include our Prairie Materials and CBM Aggregates Divisions worked x 1,000,000. Does not include Uruguay operations.
aggregates, mortars, operations, logistics and concrete businesses—it and our St Marys Cement Distribution Terminals, which in 2022
²Considers on-site occurrences in cement, aggregates, mortar, logistic,
is now implemented in 30 sites. In addition, the program was extended reached milestones of 15, 14 and 13 years, respectively, with grout and concrete facilities.
to our global operations, with training completed or in progress in no LTIs—among the longest records for all Votorantim Cimentos
Morocco, Spain and Türkiye. locations worldwide.
53
Health and Well-being

SAFETY AND TECHNOLOGY –
At Prebetong Áridos (Vigo, Spain), initiatives that are We take care of our employees and focus on establishing a | Estamos com VC (“We Are with You“) Program: An
part of the Choose Safety, Choose Life campaign culture of health and well-being across our businesses. We initiative focused on mental health that offers different
ensure that our employees and contractors go home are committed to achieving 90% favorability in our health and forms of online therapy for employees and their
safe every day. A good example is our Couso mine, well-being surveys by 2030. We have a dedicated team focused dependents.
where we achieved more than 3,000 days without on promoting quality of life and committed to implementing
| H1N1 Vaccine: Every year, we offer the H1N1 vaccine free
accidents—an achievement that was made possible initiatives to make our company increasingly human.
of charge to our employees.
thanks to technology. The site implemented an app
project named Building Excellence in Safety through In 2022, we had fewer cases of COVID-19 in all countries | Themed months: In all regions where we operate, we carry
Technology (BEST), which includes innovative solutions where we operate, thanks primarily to a worldwide increase in out initiatives to raise awareness among our employees
to improve safety management. vaccination rates. Believing that health and well-being are issues of different health and well-being topics, such as Blue
of paramount importance, we are committed to continuing and November on men’s health and prostate cancer; Yellow
By reducing bureaucracy and replacing paper with expanding our global health programs, including: September on mental health; Pink October on women’s
digital tools, the app simplifies communication within health and breast and uterine cancer.
| VC e o Bebê (“VC and Baby“) Program: Aimed at pregnant
the mine and points out potential improvements in real
women (employees or dependents), the program has more
time. The first step is a preliminary risk assessment
than 350 participants in Brazil and provides an allowance
that happens before any task is performed. Periodic
for children up to one year old.
inspections ensure compliance with safety rules and
enable us to recommend improvements. The system | Momento Saúde e VC (“VC and Health“): Includes breaks and PROMOTING WELL-BEING
is also able to identify each of the workers contracted time for self-care and reflection during our team meetings, Our employee well-being activities are organized into
through third-party companies. Using a QR Code, through lectures and occupational therapy activities. the Mais Vida (“More Life“) program. The main initiative
users can check the types of training each worker has | Social service: Social workers who support our employees is VC em Movimento (“VC in Movement“), a fitness
completed (and which activities he/she is prepared to in a wide range of issues. and gaming app (named VIK) that presents periodic
perform). In addition, the app includes two specific challenges to fight sedentary lifestyles and rewards the
| Employee assistance programs (EAPs): In Brazil, we
online training platforms for logistics operators. In most active participants. Currently, more than 2,300
continued to implement Pillar, a multidisciplinary program
2022, the BEST project received the main award from VCBR employees use the app and belong to walking
that, among other benefits, offers nutritional and
the Spanish Aggregate Association in the Health and or running groups. Another initiative is Total Pass, an
psychological support 24 hours a day, seven days a week.
Safety category. online fitness platform with classes for employees to
At VCNA, employees and their family members benefit from
take at home, in the park or wherever they like.
similar Employee Assistance Programs.
54
Diversity
–
GRI 3-3_405_406
In an increasingly diverse and inclusive world, we are on a 3. We are committed to creating leaders who are engaged
journey of transformation. We know that it is our people in the diversity agenda and who value and encourage the
who really make a difference to ensure the longevity of our individual characteristics of the people who make up their
business and our innovations. We believe that what makes us teams as a competitive advantage of our business.
equal is the certainty of knowing that we are different, and
4. We maintain and foster an environment in which each of
that respect for our individual uniqueness will enable us to
us feels safe to express our true self.
become increasingly better. Recognizing that, we made public
our Global Commitment on Support of Diversity, through
which we expressly state that: We have a diversity ecosystem made up of our top leadership,
managers, groups of allies, regional working groups and the
1. We do not tolerate discrimination or prejudice of any kind,
Diversity and Inclusion area. Through different initiatives,
including race, religion, age group, gender, political belief,
we work to create an environment where people are free
nationality, marital status, sexual orientation, physical/
to be who they are, without judgment and with respect and
mental/intellectual condition or any other.
appreciation.
2. We hold respect for people as an unconditional value and
we do not tolerate any position that is not in accordance
with our Code of Conduct.
“We are on a journey to promote diversity and inclusion in

pursuit of a more equitable future. In line with Our Way of
Being, we value and develop our employees, encouraging
diversity and making people feel truly included.“
Thatiana Soto, global general manager of Organizational Development Employee in
one of our
plants in Brazil
55
Groups of Allies #Pode Entrar (“#Come in“) Awareness and Training

In 2022, our Diversity Allies Groups continued to meet. We have Our virtual live events (#PodeEntrar) to increase awareness In Spain, the first ready-mix truck decorated to support the
a total of four groups in Brazil (Gender, LGBTI+, People with of diversity and inclusion had an average of 1,000 views per LGBTI+ community began circulating through the streets of
Disabilities and Race) that work to create opportunities for dialogue event. In 2022, we hosted Cris Bartis, creator of the Mamilos Seville. The truck is painted in rainbow colors, a symbol of
and to propose initiatives to advance the topic of diversity within podcast, to talk about gender equality challenges; Filipe the sexual orientation equality movement. Similarly, to draw
the organization. The meetings take place every two months; Rollof, a key opinion leader on diversity, who spoke about attention to violence against women, we have been using
throughout the year these groups meet on average five times. LGBTI+ pride; Flavia Cintra, journalist and reporter for Globo ready-mix trucks painted purple and displaying the motto
TV network, to share her experiences as a person living with “Zero tolerance“ and the 016 number used to report acts of
a disability; and Caroline Sodré, a historian with a master’s abuse and violence against women. VC Spain has a specific
Diversity Partnerships degree in Afro-Brazilian education, who helped us understand protocol to identify and deal with gender-related violence,
the history of Brazil from an Afrocentric perspective. both inside and outside the company.
We are part of the Business Initiative for Racial Equality, an
initiative to promote racial inclusion and fight racism; Business for In Türkiye, employees at the Yozgat plant participated in a
LGBTI+ Charter, a commitment to promoting inclusion and fighting two-day training program on issues related to violence against
discrimination against the LGBTQIA+ population; Corporate Social women. Following that, a graffiti installation was created to
Inclusion Network, an initiative that encourages companies in ACCESSIBILITY AND INCLUSION highlight the motto “No to Violence Against Women!“
Brazil to promote the inclusion of people with disabilities in the
job market; UN Women’s Empowerment Principles, an initiative We increased the participation of people with In Brazil, we launched diversity training on our distance
of the UN Global Compact and UN Women that aims to unite, disabilities at VCBR by 45% and invested more learning platform. The Anti-Male chauvinism module discusses
strengthen and expand global efforts in defense of women’s rights.; than R$10 million in construction and structural unconscious biases and ways to fight structural machismo; the
and National LGBTI+ Alliance, a civil, multiparty and non-profit improvements in our sites to ensure inclusion of Anti-Racism course focuses on racial literacy, introducing key
organization aimed at promoting and ensuring the defense of people with disabilities and access, including the concepts in a clear, simple and objective manner.
human rights and citizenship, in particular of the LGBTI+ community. improvement of bathrooms, locker rooms and access
to our sites and the installation of special elevators As part of our Include to Transform program, in 2022 we held
for people in wheelchairs. In addition, we improved our another Brazilian Sign Language course online for employees
Maternity and Paternity Leave at VCBR Ethics Line to increase accessibility for people with and continued to implement the Inclusive Conversations
hearing and visual impairments (see more in Ethics Line, project, in which facilitators with market experience share
In Brazil, as signatories of the Brazilian Corporate Citizen program, on page 40). We also launched an exclusive platform to their insights and good practices regarding the inclusion of
we offer extended maternity and paternity leave to our employees, post positions available to people with disabilities. people with disabilities. The program also includes training for
as another way of promoting diversity among our teams. In 2022, people with disabilities to work in administrative functions. In
our LGBTI+ employees in Brazil were included in our Parental Leave 2022, 50 people were trained.
Policy. That means that when they are a child’s main caregiver,
they are entitled to parental leave of up to 120 days and to receive
daycare assistance for children up to 24 months. Similar benefits
have been made available in other countries as well.
56
Women at VC Strategy
Aligned with our commitment to increase the participation of In celebration of International Black, Latin and Caribbean
women in leadership positions (25% by 2030), we launched Women’s Day, we launched our Mentoring Program for
our Women at VC strategy, which includes all our programs Black Women in partnership with the Zumbi dos Palmares
for attracting and retaining women. In 2022, we increased University. The program runs for eight months and is
our percentage of women in leadership positions in all offered to self-declared Black women in analyst and
regions, to a global total of 21%. One of the highlights was consultant positions. In its first year, the program includes
the hiring of Bianca Nasser as our new CFO and member of the participation of 28 women, who are being mentored by
our Board of Officers. employees in manager or general manager positions.
In Brazil, we held the third Lidera VC – Development Our work to promote gender diversity also extends
Program for Women Leaders. Since the launch of the to our local community. In partnership with the Social
initiative in 2020, we have already trained more than 100 Transformation area, we continued to implement our
women in positions of general management, management Evolving Women program, which offers courses for forklift
and coordination in various areas of the company. In our operators and ready-mix truck drivers in the communities
industrial sites, we promoted the third Technical Internship where we operate. Throughout 2022, 14 women benefited
Program for Women, which aims to train and prepare them from the program.
for technical positions in our cement, aggregates, mortar and
lime operations. The 2022-cycle of the program, which runs In December 2022, VCEAA Corporate launched
for at least one year, included the participation of 10 women. the Equality Plan to continue to foster equal opportunities
and diversity within our workforce, as well as to increase
Another initiative is the Reliability Engineer Program, which the number of women in management positions and
seeks to attract women in the market and introduce them to to reinforce work-life balance measures. The plan was
our company. The female engineers participate in practical created based on an assessment of current practices and
projects, technical training and personal development includes measures aimed at achieving equal treatment and
courses in preparation for assuming leadership positions in opportunities between women and men in the company
the plant maintenance area, increasing the participation of and eliminating discrimination based on gender. Globally,
women in our operations. every year we commemorate International Women’s Day Employees in
on March 8 to recognize the daily achievements of all the Cajamar
women in our company. plant, Brazil
57
Training and Development

–
GRI 404-2
We believe in the importance of training as a tool for employee Materials) roadmap by ensuring that our employees have the LEARNING
development. In 2022, we enhanced our learning platform, required knowledge and skills. The program covers all AFR EXPEDITIONS
which reaches 100% of our VCBR employees and VCEAA. Our activities carried out in our cement plants, including sourcing
goal is to extend the platform to VCNA in 2023 to increase and business development aspects, the cement production In 2022, VCEAA started implementing
learning opportunities and expand the reach of our training process and quality implications, safety and environmental a new type of training program. The
and education strategy. During the year, we offered more challenges, and waste treatment platforms. Learning Expeditions (or LEX) are
than 44,000 hours of training around the world. We currently immersive experiences through which
have 130 development tracks, which include training on At VCNA, an Employee Training Advisor was appointed to employees leave their comfort zone to
technical subjects, compliance issues, leadership development, help ensure consistent technical and operational training at discover, explore, research and learn
preparation for new challenges and gateway programs. This the region’s cement plants in Canada and the United States. about topics of interest or innovations
ensures that all our employees are participating in at least one The region also started a Graduate Program for certain in their area. VCEAA expects to promote
track. In addition, we have more than 4,400 classes available, positions within its Safety, Cement, Ready Mix and Aggregates 40 learning expeditions by the end
encouraging career ownership and continuous development. businesses to ensure we are developing talent that will of 2023, involving all functional areas
contribute to sustainable results and reinforce our company in the four countries of the region
At VCBR we have three technical schools that support the values for years to come. To extend its reach to attract and (Morocco, Spain, Tunisia and Türkiye).
development of our employees: the Cement Operations Technical hire diverse talent, we established offshore recruitment The project facilitates interactions with
School, the Concrete School and the Sales and Marketing School. initiatives aimed at finding qualified candidates from outside other employees who are specialists in
Each school has its own strategy to address fundamental of the United States and Canada to work at VCNA operations. their areas to create informal knowledge
knowledge that is specific to each business. In 2022, several networks and communities of practice
training sessions were carried out by these schools. VCNA also commemorated the 60th Anniversary of the St to continuously foster creativity and
Marys Cement Concrete School for customers. Three-day outside-the-box thinking.
At VCEAA, employees received more than 34,000 hours courses were hosted by the St Marys Cement Technical
of training. More than 2,400 hours were dedicated to a Services Group, combining theory and practice in cement,
tailor-made training program designed internally for VCEAA concrete and aggregates, mostly intended for people relatively
employees: The AFR Core Curriculum. The goal is to support new to the business, aimed at educating and attracting a new
the implementation of the AFR (Alternative Fuel and Raw generation of talent to our company.
58
Talent Development
In 2022, we promoted another cycle of our Trainee Program, In partnership with the Votorantim Academy, which serves as
which selected seven candidates at the beginning of their a knowledge hub for the Votorantim S.A. portfolio companies,
careers to work in different areas during the cycle. The program we nominated 1,220 employees from different areas and INDUSTRIAL MANAGEMENT
will last for 16 months, during which time trainees will be positions to participate in workshops, courses and training MODEL AT VC
mentored by our leaders, do three job rotations and participate sessions focused on various current topics in the area of
in in-depth training sessions on management, creativity, self- human and organizational development. In 2022, we implemented the Votorantim
knowledge, projects, design thinking and self-development. We Cimentos Production System (VCPS) in our
also continued to implement our Internship Program, which Cement operations in Brazil. The project
included more than 350 college students in 2022. Performance and Career was divided into a development phase
and an implementation phase. In the
In 2022, the Potenciar Program celebrated its 10th anniversary Every year, we carry out a career management process development phase, carried out in 2022, we
and included 20 participants (trainees, reliability engineers and to identify potential candidates for new positions and identified and defined the management and
high-potential employees in the beginning of their careers). challenges within the company, while also fostering the career governance processes of eight areas that
The program offers essential training in the pillars Me, Us and development of our teams. The process includes opportunities are considered key by the company: Mining,
All, with immersions and in-depth studies on self-knowledge, for reflection and development through workshops and Quality, Production, Maintenance, Human
business and ESG practices, and the implementation of leadership training aimed at assessing potential and facilitating Resources, Industrial Management, Safety
projects with impacts related to the Sustainable Development individual career conversations with members of the team. and Environment. The implementation phase,
Goals (SDG). More importantly, Potenciar facilitates the scheduled for 2023, aims to implement the
exchange of experiences among participants from Votorantim At the end of the career management cycle, employees receive processes in all plants in Brazil. The initiative
Cimentos and other Votorantim S.A. portfolio companies. formal feedback and support—in the form of guidance from is an evolution in our industrial management
managers and the People Management team and specific culture that will ensure that our actions are
Based on their potential to assume their first position in training—to develop their individual career plans. Based on controlled by well-defined processes and
management, we identified 850 leaders and employees to collective indicators, each site or area makes the necessary controls and not just by people. More than
participate in our Leadership Development Journeys. Created adaptations to organize training (according to skills that need to 290 employees were involved in the project,
around fundamental pillars for the exercise of leadership (Self- be further developed, for example). Everything is done to support including specialists and leaders who aspire to
knowledge, People Management, VC Business and VC Culture), our quest for excellence, in a culture of high performance. As build a simple and reliable management model,
these journeys address the challenges of each pipeline and part of the process to map and develop successors, we reinforce considering the best practices and existing
encourage leadership and continuous learning. The program career management tools and practices to ensure greater depth processes, to guide our operations to work
includes asynchronous content and group forums to exchange and focus in group discussions and in the preparation and follow- with excellence to achieve sustainable results.
experiences and ideas. up of individual development plans.
59
■ Path to Growth
■ xxx
■ Industry 4.0
■ Logistics
■ Customer Focus
Employee in the
Hasanoğlan plant, Türkiye
09. Competitiveness
and Innovation
09. COMPETITIVENESS AND INNOVATION
Path to Growth
–
GRI 2-6, 3-3
A business has no future if it does not pay close attention to through the Intraempreendedores (“Internal Entrepreneurs“)
the need to innovate. When it comes to production, processes, Program. Through access to exclusive experiences, participants
partnerships with suppliers and customers, we must be open receive support to enhance their ideation processes and
to the future, to developing new ideas, to embracing new perfect their vision for innovation. In the second half of
concepts. the year, we organized a workshop to review our innovation
territories, to start building on our global approach to
We defined an innovation strategy that aims to pave the innovation. We revisited VCBR’s strategy and defined six
way for the future of civil construction in a simple, agile and territories (1) job site optimization; 2) retailer performance; 3)
sustainable manner. To this end, we have a multidisciplinary decarbonization; 4) waste recycling; 5) decent housing and 6)
Innovation Commission, made up of our employees, which the plant of the future. “We are committed to
encourages the generation of ideas, and the systematization
and acceleration of new projects, which are developed At VCNA, we joined Plug & Play, an ecosystem that catalyzes
pursuing initiatives that
internally or through partnerships. technological advancement by connecting blue chip will contribute to our
corporations with a network of 30,000 of the brightest
In 2022, the members of Votorantim Cimentos’ Innovation startups across the globe. As a first step, we are prospecting
objective of accelerating
Commission met four times to analyze new projects and startups working on sustainability and new constructions the innovation agenda
review the status of those already in progress. Of the more methods.
than 150 ideas presented, we currently have 19 in our in pursuit of sustainable
Innovation Funnel, and three of these projects have already We believe that the diversity of our employees contributes to solutions for both
been implemented (Predictive Concrete, Soma and Vloz). an environment of innovation. With that in mind, throughout
the year our global Working Groups continued to work to our company and our
Employees can submit suggestions through Inova VC, an address significant issues for the organization, namely: new industry.“
initiative that also promotes training in project management technologies, alternative fuels and raw materials, clinker factor
concepts and participation in events with external guests reduction and carbon capture and storage technologies. Filiberto Ruiz, CEO of VCNA
61
Carbon Capture, Use and Storage (CCUS) Technological Radar

Carbon capture, utilization and storage (CCUS) is an “We continuously monitor innovation initiatives worldwide
important lever in our decarbonization journey that will in the areas of cement, concrete and aggregates, to
be fundamental in helping us produce carbon neutral map out solutions that can help drive our safe and HYDROGEN INJECTION
concrete by 2050. CCUS consists of capturing CO2 from sustainable growth, and our competitiveness," said Silvia
the industrial process to be used by other industries, Vieira, R&D General Manager. The instrument we use Hydrogen has been extensively
recycled as fuel or stored. This new technology is still being is the Technological Radar created by the Research & studied to increase thermal efficiency
studied and its contribution is forecasted to only become Development (R&D) area, through which specialists in in cement operations and to enable
significant beyond 2030, after commercial viability has our teams comment on news and articles on topics that increased use of alternative fuels.
been determined and the necessary infrastructure has been are relevant to the business and assess the technical and In 2022, we invested R$9 million on
established according to the Global Cement and Concrete economic viability of ideas. technology to inject hydrogen into
Association (GCCA). one of the kilns at the Rio Branco
Since the implementation of this tool, in 2020, more do Sul plant. The initiative was
Within the scope of the GCCA, we participate in the than 5,500 news and articles have been analyzed and carried out through the installation
Innovandi Open Challenge program, which aims to helped guide our research, development and innovation of a unit that promotes electrolysis
accelerate the development of new technologies that can projects. The Technological Radar is available to our and separates hydrogen and oxygen
lead the industry toward the goal of zero emissions. In teams on Workplace, an online collaborative tool that molecules. Hydrogen is injected into
2022, the program facilitated the creation of partnerships facilitates teamwork, real-time communication and the kiln burner in the coke transport
between startups and the cement companies that are information sharing. line. This results in more efficient
members of GCCA to pursue solutions to the major combustion and increased operational
climate-related challenges we are facing. We participate in stability, reducing thermal consumption
one of the six existing consortia, linked to carbon capture and enabling the increased use of
at cement plants. One of these initiatives is focused on alternative fuels. At VCNA, we are in
capturing carbon from the atmosphere at a lower cost, the process of acquiring two hydrogen
using an exclusive biphasic amine. electrolysis units to be installed in
the kiln and calciner of the St Marys
Cement, Bowmanville plant. The
“We continuously monitor innovation initiatives worldwide in the areas installation of similar projects in other
plants of the company is being studied.
of cement, concrete and aggregates, to map out solutions that can help
drive our safe and sustainable growth, and our competitiveness.“
Silvia Vieira, R&D General Manager
62
Industry 4.0
– –
In line with our strategic pillar of business transformation, we in advance, enabling corrections to be done in a preventive manner.
continued to invest in initiatives related to industry 4.0 and By reducing standard concrete deviations, we increase customer
artificial intelligence, aiming to gain efficiency, optimize costs satisfaction and technical efficiency, while also reducing our DECARBONIZATION 4.0
and increase competitiveness in all regions where we operate. production costs and carbon footprint. In 2022, the project yielded
R$4.8 million in savings and prevented the emission of 6,900 kg of In line with our decarbonization
At VCBR, we created an area dedicated to planning and CO2 into the atmosphere. The initiative is already underway in Brazil, strategy, we developed three initiatives
managing industry 4.0 initiatives and developed a roadmap and we are studying its expansion to VCEAA and VCNA in 2023 aiming at optimizing the thermal
of initiatives to guide us along this journey of transformation consumption of clinker kilns in Brazil.
over the next five years. The year was marked by studies, At VCEAA, we revised the roadmap for the region and digitalized The first one consisted of using
proofs of concept and projects using artificial intelligence several operations. At the Yozgat plant, in Türkiye, our projects Machine Learning (ML) to support
(AI), internet of things (IoT), augmented reality (AR), cloud focus on plant reliability and efficiency, in line with our 2030 alternative fuel co-processing decisions,
computing and big data incorporating the concept of data lake. Commitments. To provide more detailed information to our control connecting the operational vision with
room, we installed thermal (infrared) cameras in eight kilns, in demand and the market. In the second
Several AI initiatives were implemented to optimize process addition to a cooler. We also installed a system known as Expert initiative, we used ML to support kiln
stability, increase the usage of alternative fuels (replacing Optimizer (EO) to stabilize and optimize industrial processes. operation using recommendations to
fossil fuels) and enhance operational performance. We Considered the most modern system available, it includes linear optimize thermal consumption. The
continued to work on predictive maintenance using and non-linear predictive models that can help us make the best third initiative consisted of using virtual
mathematical models to monitor strategic assets. Through operational decisions. sensors—smart algorithms that
an online platform, the Spectrum project monitors various simulate the result of a process variable
process information and equipment data to anticipate In addition, all our plants in the region now use the Laboratory that cannot be measured
failures. In 2022, the project avoided R$36 million on Information Management System (LIMS). VCEAA chose this tool in real time—in kiln operation.
maintenance expenses. because it enables easy access to information, which is transparently
shared with the operational teams. This leads to improvements in
We continued to implement the Predictive Concrete project, performance throughout the entire process, including, for example,
which was created by the R&D area and uses artificial lower electricity consumption. Also, information can be accessed
intelligence to help predict concrete strength at 28 days based from different locations, facilitating collaboration and reducing the
on production parameters. Potential deviations are identified need for training.
63
Employees at CBM
Toronto, Canada
In the area of artificial intelligence (AI), we are working on a Cybersecurity

few proofs of concept. Our challenge is to consolidate and
extract value from information that is currently available In Information Technology, one of our focus areas was The encryption of notebook hard disks was also an initiative
in several different platforms. The concept of big data has cybersecurity. We developed a platform that gives us more implemented during the year to prevent data from being
evolved into the concept of a data lake, a repository that accurate control of our operations and includes a new two- accessed in the event of loss or theft. And, still in progress, we
allows users to “drink“ from the source. Many reports that factor authentication feature to legitimize remote access via have a project to increase control over accounts with higher
used to be done manually are now created electronically, VPN from the internet, especially because since the beginning permission levels in the administration of our IT infrastructure,
enabling people to use their time and skills to analyze of the pandemic, many employees started using their work through the use of electronic password vaults.
information to increase productivity, for example. Another computers outside the company.
path of no return is connectivity and mobility. Every employee In addition to initiatives to prevent and detect potential
has a smartphone and almost all apps run on phones. Other initiatives included the implementation of Extended cyberattacks, the company is also developing a business
Therefore, expanding these connection opportunities is a way Detection and Response, a next generation antivirus with even continuity plan (BCP) that includes crisis management, a
to make work more agile. more advanced protections than the traditional EDR (Endpoint recovery plan and a contingency plan, among other initiatives.
Detection & Response), and an immutable backup, with layers In 2023, we will be designing a Cyber BCP considering large
VCNA’s Prairie Materials is leading an effort to partner with of protection to avoid compromising backup copies. The impact situations, including specific scenarios of persistent and
engineers and students from UCLA’s Samueli School of company also installed LGP, a privacy management platform for advanced ransomware attacks that can indicate improvements
Engineering. VCNA is participating in the program by sharing centralizing requests from holders, discovering data processing and serve as the basis for conducting tabletop tests.
concrete performance data and other relevant information in business flows and controlling authorizations for accessing
that is being used to “train“ machine learning models to websites (cookies). Each year, we run a pentest to assess our
propose and predict the structural and environmental protection, detection and response mechanisms. After the test,
performance of various AI-generated concrete mixes, including all attention points are prioritized, and risk mitigation actions
those made with Portland-Limestone Cement (PLC). are taken according to the established level of urgency.
64
Logistics
– TRANSFORMING WITH MOTZ
The breadth of our operations has always required enormous Distribution Centers The launch of Motz is yet another initiative
logistical efforts—to transport raw materials to our plants, and aligned with the Business Transformation
our products to retailers and consumers. With the mission of Aligned with the Growth & Positioning and Competitiveness pillar of our 2030 Strategic House. We are
simplifying and streamlining the work of drivers and shippers, pillars of our 2030 Strategic House, we reinforced our innovating through new business models and
in March we launched our digital carrier, Motz. The company distribution infrastructure by launching a new distribution accelerating digital transformation. Unlike other
was created in 2020 as an internal project to facilitate our center (DC) in Ceará and transferring our São Miguel Paulista logtechs that only offer a freight platform,
own logistics. The following year, we expanded our reach and DC to Guarulhos, in the São Paulo metropolitan area. The we are responsible for the entire logistical
incorporated our plants and distribution centers—and while still new logistics centers also strengthen our #customerfocus flow, moving products from one location to
in an experimental phase, under the name Mov-C, we facilitated principle, since they raise the level of our services and expand another. Independent drivers have a cargo app,
the transportation of 11 million tonnes of goods. the reach of our products. while shippers use a dedicated portal that
consolidates the entire process, including order
In 2022, we extended our services to any interested party, and Our new DC in Crateús (CE) expanded our presence in the placement, transportation, delivery and freight
under the new Motz brand, we acquired 40 customers and saw Northeast Region. Located 350 kilometers from Fortaleza, payment. Motz works with dry cargo in the
our volume of cargo grow by almost 50%, to 16 million tonnes it has a distribution capacity of 2,100 tonnes of cement and civil construction product chain, and can serve
(of which approximately 10% are external). Our revenue adhesive mortar per month, which enables us to expand our several segments, such as agribusiness, mining
totaled approximately R$1 billion. Our goal is to reach 24 deliveries to customers in the states of Ceará and Piauí. and steel, among others.
million tonnes/year in the next five years, with at least 30%
external customers. The new facility in Guarulhos has the capacity to distribute “We are innovating through new
1,000 tonnes per day of our entire product line: cement, business models and accelerating
For example, if an independent driver transports our materials adhesive and basic mortars, grouts, limes and waterproofing digital transformation. Motz
from a plant to a distribution center, Motz can schedule a products. The DC has a unique closed circuit to reuse comes to expand our areas
different shipment in the opposite direction. Our biggest water used by forklift washers, which reduces on-site of activity beyond the civil
advantage is our reach: including our plants and distribution water consumption. This feature is in line with our 2030 construction sector.“ Luis
sites, we have more than 100 dispatch points in Brazil. Our Sustainability Commitments, which aim to reduce the Eduardo de Oliveira Vallim,
driver database already includes 25,000 individuals. In 2022, company’s environmental footprint by incorporating clean director of VCBR Logistics.
R$8.4 million were invested in systems, with another R$10 technologies into our operational processes to create a future
million forecasted for 2023. One of the innovations is a tool with lasting results for customers, partners and society.
that speeds up payment for drivers.
65
Pre-programmed Routes Green Logistics

One of the main features of our app for truck drivers is a route Greenhouse gas emissions are a constant concern for us,
planner that optimizes routes (reducing the time and distance and logistical processes have high potential for emissions. In
traveled) and space in trucks (especially in cases of shared 2022, we introduced a new concept and began tracking our
shipments). The app is also very intuitive. Users can easily emissions avoided through the choice of different modes
learn how to perform tasks, resulting in easier and faster of transportation. In Brazil, for example, by replacing road
work. The app has three features that are especially attractive transport with rail and water alternatives, we prevented the
to drivers: the possibility of booking a trip without having to emission of 94,000 tonne/CO2e per year, which is equivalent
Employees in be present at the site, digital delivery confirmations and the to the emissions produced by more than 16,000 vehicles.
a Distribution
Center in Brazil
possibility of closing deals online, which expedites payment. Water transportation is concentrated at the Barra dos
Our initial goal was to have an 80% adoption rate; currently, Coqueiros port (state of Sergipe), from where bulk cement
84% of drivers are already using the new tool. from the Laranjeiras plant (also in Sergipe) is transported to
LOGISTICS 4.0 the Port of Manaus (state of Amazonas) by sea/river.
In 2022, shipping processes in our Better Planned Production Another initiative that contributes to lower emissions is the
distribution center in Uberaba (MG), use of an app for drivers that optimizes delivery routes. The
Caxias do Sul (RS), Petrolina (PE) and Another important initiative in the VCBR’s Logistics area is the software tool, customized for our company, resulted in an
mortar plant in Belém (PA) were fully Production Planning (PCP) system. Many activities that used to estimated average savings of 234 m/tonne shipped in 2022
automated. When trucks enter the site, be done manually, using spreadsheets, are now centralized in a alone, by calculating the most efficient routes. This translates
drivers use a QR Code to open the gate. system that synchronizes the supply chain. This helps to avoid into an average savings of 100 ml of diesel per tonne shipped,
When forklift operators are notified of losing sales due to product shortages, reduces transportation which is equivalent to 0.264 kg of CO2e avoided per tonne of
their arrival, they set the orders aside. costs (especially those associated with emergency supplies product shipped.
The drivers proceed to the loading docks to plants) and prevents products from having to be discarded
and, once the process is concluded, because they have passed their expiration date. In North America, VCNA operates an extensive intermodal
they collect all tax documents at the distribution network that leverages water, roads and railways
exit to continue their journey. One of to transport its products. In particular, VCNA leverages a
the challenges is to get drivers used cost-effective and sustainable maritime distribution network
to the new process, since they may be of vessels and terminals to supply cement to markets across
resistant to change. The goal is to have
In two years, approximately the U.S. and Canadian Great Lakes region and, thanks to the
all 85 VCBR sites automated by 2024. R$10 million were invested in new additional capabilities gained through the integration of the
Similar initiatives already exist in our McInnis business and St Marys Cement, to Eastern Canada and
other regions. software. In 2022 alone, we achieved the Northeastern coast of the United States.
R$8 million in cost savings.
66
Customer Focus
–
GRI 3-3, 2-6
Our customers are at the center of our strategy. Therefore, we In the Brazilian market, our cement packaging was redesigned These surveys use the net promoter score (NPS) methodology
constantly seek to develop solutions and offer products that to reflect the new branding. The advertising campaign to and help us develop action plans to continually improve the
can fully meet their needs. The market conditions are very introduce the new packaging of Votoran, Itaú, Poty and quality of our services. As a result, our NPS at VCEAA has
different in each of the regions where we operate. In Latin Tocantins cements, including TV, radio, social media and point been steadily improving—in 2022, our scores in Morocco,
America, cement is mostly sold in bags. In North America, of sales communications, was launched nationally on October Spain and Türkiye placed us in the “great“ category (above
cement is sold in bulk, with bags only accounting for less than 9. In the coming years, the new branding will also be used in 59 points). Our main project in 2022 was the creation of a
3% of sales. In Europe, this percentage varies from country to our products in other countries where we operate. roadmap to adapt our product portfolio considering the need
country. What is common in all regions is our mission to supply for more durable and sustainable types of cement.
a high-quality product, ensure our wide reach (with direct Our customer service strategies also need to be adapted
access to customers), apply technology, strengthen the sales according to the needs of each region. At VCEAA, for example,
ecosystem and reduce our carbon footprint while increasing two years ago we started a go-to-market project based on
productivity in work sites. market trends, technology, product portfolio, sustainability
targets and satisfaction surveys.
While we have very specific strategies to reach each
regional market, the launch of the new Votorantim
Cimentos branding in the second half of 2022
represented an important milestone to not only position
“We did a very careful job, including
the company as an international player but also to set our
eyes on the future. The new, revitalized branding unifies qualitative research and tests with external
the visual identity of our global sites, with an architecture and internal stakeholders. Our goal is for
and hierarchy that allows for new ways to further the new packaging to reflect the strength
showcase our local brands in their respective markets
of our brands in all regions of Brazil.“
(read more on New Branding, on page 24).
Hugo Armelin, director of Marketing,
Sales and Concrete Operations. New cement packaging, Brazil
67
One example of a customer partnership at VCNA during the Focused on offering increasingly more products to our
year was an innovative new 60-story office tower in Chicago, customers, we expanded our Imperplus and Superfix mortar
developed by a team including a real estate developer, a additive lines to different regions in Brazil and expanded our
structural and civil engineering firm, a construction company Votomassa product line with the launch of Votomassa Piso
and Prairie Materials, which provided technical expertise sobre Piso Interior Finish and Porcelanatos Interno Cinza. With
and more than 52,500 yards of concrete. The structural these new products, our customers gain an exclusive option
design combined steel and low-carbon concrete to achieve for indoor areas that can be used according to the needs
a 19% reduction in carbon emissions, equating to total of their projects. The new Votomassa is packaged in 100%
verifiable savings of over 7 million kilograms of C02, which is recyclable paper, produced from renewable sources and with
equivalent to more than 1,500 cars off the road for a year, or a protective barrier that prevents the internal content from
approximately 800,000 gallons of gas. coming into contact with moisture in the air, better preserving
the product and preventing lumps.
More Products and Services Also, in line with the digitalization movement, we invested in
Papo de Obra, a YouTube channel created to educate workers
For the first time, we held a workshop called Customer- (and final consumers) on construction-related matters.
Centered Laboratory in Tunisia, following the success of Currently, the channel has more than 250 videos published, 28
this activity in Morocco in the past three years. In these two million views and 150,000 subscribers.
countries, we have loyalty programs that are highly rated by
consumers. And customer adoption and use of our digital sales
portal (eCare, launched in 2021) continue to increase, turning Low-carbon Products
it into a global success case in our industry and currently
accounting for approximately 60% of our business in Morocco, To fulfill our commitments related to decarbonization and
Spain and Tunisia. In Türkiye, it surprisingly exceeds 95%. more sustainable alternatives, we have been working to
The system allows customers not only to place orders and expand our portfolio of low carbon products. In this direction,
download invoices, but also to register and monitor complaints Spectra concrete, which has high-modulus of elasticity
and schedule deliveries. It is a great success precisely because properties, enables the design and construction of highly
it puts our customers–and their needs–first. durable structures with lower costs and a carbon footprint
that is up to 25% lower than conventional concrete. This
In Brazil, we continued to work tirelessly to serve retailers product line, which has been sold by VCNA for the past few
and help ensure the evolution and continuity of their years, arrived in Brazil in 2022 and is already available in the
businesses. Our main initiative in this area is Juntos Somos+, cities of São Paulo (SP), Campinas (SP), Porto Alegre (RS),
a partnership with other major brands in the sector that Fortaleza (CE), Goiânia (GO), Curitiba (PR) and Brasilia (DF). Employees in
our Cajamar
has more than 81,000 subscribers and is the largest civil plant, Brazil
construction loyalty program in the country.
68
Our cement and concrete with lower carbon footprint earned More Aggregates Engemix
important recognition for Engemix. For the second consecutive
year, the company won the Excellence in Construction Award, In 2022, to better meet the needs of our customers, we Since 2021, we have opened three concrete branches in
presented by the American Concrete Institute, this time for invested to improve our Aggregates operation in Brazil. We Brazil, in Colombo (PR), Goiânia (GO) and Jurubatuba (a
the Faria Lima Plaza project. Located in Largo da Batata, expanded our Araçariguama (SP) plant, which now has a 21% neighborhood in São Paulo). And we continued to implement
São Paulo, the building is known for its inclined pillars that higher installed capacity. The main segment served is the civil our main initiatives, such as the Customer Councils and the
change direction along the 110-meter-high structure. As in construction industry which is in line with the growth strategy Engemix app, which guarantees the time of delivery by ready-
2021, Engemix was once again recognized for using a smaller for adjacent businesses and further leverages operational and mix trucks—70% of customers already monitor deliveries
amount of cement in the concrete used in the project, which commercial synergies with other businesses. via cell phone. In addition, the app now offers the option of
consequently lowered the building’s CO2 emissions. scheduling orders. As a result, direct sales to final consumers
In Brazil, we launched granules, a new type of product that already account for 25% of Engemix’s revenue (up 30%
In North America, we increased the production of Portland consists of the coarse portion of stone dust (the fine fraction compared to 2021). One of the main sales channels is the
Limestone Cement (PLC) by 200%. Marketed by VCNA’s St of gravel grade 0). It is intended for use in concrete blocks, 0800 333 OBRA phone number, which receives more than
Marys Cement plant as Envirocem, this type of cement uses interlocking floors and concrete pipes and can also be used 4,000 calls per month.
more limestone, leading to a 10% reduction, on average, in flexible pavement. In addition to productivity gains, the
in greenhouse gas emissions. In total, St Marys Cement product provides better finishing and greater resistance,
produced 4 million tonnes of low carbon cement. As a result, reducing losses caused by broken parts, both in manufacturing
we estimate that we have prevented the emission of 335,000 and in storage.
tonnes of CO2 into the atmosphere, which is equivalent to VLOZ
removing 8,000 cars from the streets for a year. In the United States, we concluded the integration of the
Valley View business, which was acquired in 2021, into our Customer focus is a key part
This increase in market share of PLC cements resulted from a Praire Materials business. The transition was extremely of our strategy. To increase
combination of changes in local regulations (which previously successful, surpassing our expectations. Thanks to the the sales power of retailers,
required a higher percentage of clinker in cement mixes) and acquisition of the new business site, we increased the volume in partnership with PagSeguro
consumer awareness activities led by VCNA that show this type of aggregates products offered to the market by 20% and we launched Vloz, a credit card
of cement, and concrete that uses PLC, maintains substantially improved our efficiency. Motivated by these results, VCNA machine that provides our
similar properties compared with traditional cement and furthered its strategies for adjacent businesses, with an eye customers with more freedom
concrete mixes—with added environmental benefits. This work on new opportunities. And at VCEAA we started construction and flexibility when buying our
involved collaboration with other Votorantim Cimentos plants in of a new aggregates plant in the city of Meknes, Morocco. products. Since its launch, more
Brazil and around the world, where legislation already permitted than 4,000 customers have
different combinations of raw materials. At VCNA’s CBM, registered to use Vloz, which is
Prairie Materials, United Materials and newly acquired Superior part of our innovation territories.
Materials plants, the more eco-friendly mix accounted for more
than 90% of concrete sales in 2022.
69
10.
Creating
a Positive Legacy
■ Circular Economy:
Cimentitious, Co-processing and Viter
■ Energy Efficiency
■ Environmental Management
■ Sustainable Procurement
■ Social Transformation
■ Monitoring our 2030 targets
Social initiative
in the Heliópolis
Community,
Brazil
10. CRE ATING A POSITIVE LEGACY
Circular Economy: Cimentitious,

Co-processing and Viter
–
GRI 3-3_301_306, 306-1
Verdera and Co-processing
Our business model is designed to capture value for all our applications and offers an environmentally friendly solution for During the cement production process, kilns reach
stakeholders, in a systematic and circular way, ensuring long- the disposal of by-products from other production processes, temperatures as high as 1,500°C, requiring a high amount of
term development and the creation of economic opportunities, while also reducing our clinker/cement ratio and, consequently, thermal energy. Through co-processing, we reuse industrial,
and environmental and social benefits. The concept of a our CO2 emissions. urban and biomass waste as alternative fuels, helping to
circular economy is incorporated into all of our production reduce the amount of waste sent to landfills and the use
processes and replaces the end-of-life concept through the Our constant search for new cementitious materials is of fossil fuels, which also has a positive impact on our CO2
reduction, alternative reuse and recovery of processes and supported by an area dedicated to mapping new opportunities, emissions. We have been co-processing waste since 1991 and
materials to reduce waste, optimize goods and assets and such as the use of calcined clays on a global scale. In Brazil, are pioneers in the use of this technology in Brazil.
increase effectiveness. in partnership with Companhia Brasileira de Alumínio (CBA),
we are conducting studies in the use of waste from the Co-processing is one of the drivers of our decarbonization
production of alumina in the Palmital Dam, in the town of roadmap. To support us in the implementation of our
Alumínio (SP), as a substitute for clinker in the production strategy, in 2019 we created our Verdera business unit, which
Cementitious product of cement. In addition, we created a global working group to operates in the environmental solutions chain by repurposing
exchange best practices and test new solutions. waste. Through Verdera, we help companies reduce their
The cement production process begins with the production of environmental liabilities and create a positive impact by
clinker in high-temperature kilns—and it is at this stage that Reducing our clinker factor is one of the levers of our helping preserve the planet’s non-renewable resources.
most direct CO2 emissions are produced. We promote the decarbonization roadmap. In 2022, our clinker factor was
circular economy and the preservation of natural resources by 73.9%; we are committed to reaching a clinker factor of 68% In 2022, through Verdera in Brazil, we transformed 1.3 million
using by-products from other industries and alternative raw in 2030. tonnes of waste and biomass into alternative fuels to be used
materials, such as blast furnace slag, fly ash, calcined clay and in our cement kilns (an increase of almost 20% compared to
limestone filler, to replace clinker. Using cementitious materials 1.1 million tonnes in 2021). We have a robust investment plan
in cement production diversifies and expands cement (R$977 million over the next five years) to increase our waste
management capacity worldwide.
71
VCNA began promoting its co-processing activities under the modernization of our plants to enable the increase in co- WASTE MANAGEMENT PLATFORM
Verdera brand, following the model launched in Brazil. The processing rates. We concluded the implementation of the
approach is mutually beneficial as the region can attract new Bypass project in Vidal Ramos. Announced in 2021, the We expanded our waste management platforms in our
customers while offering a complete waste disposal service. project aims to remove chlorine from clinker kilns to reach VCEAA operations through a partnership with the Veolia
The move illustrates our international growth strategy and up to 50% of thermal substitution. In this same plant, we group, one of the largest global players with expertise
how we can leverage our presence in multiple countries to acquired an unbaler that allows us to transport compacted in waste management, for the construction of a waste
build or extend our brands. The ultimate goal is to reduce waste, thus reducing the number of trips and, consequently, pretreatment platform in Morocco. In addition, we are
greenhouse gases, promote circular economy and advance our carbon emissions resulting from waste transportation. finishing the construction and permitting of a large waste
our business and industry toward a more sustainable future. In addition, we adapted sheds, dosers and peripheral preprocessing facility in Spain, expected to be operational
equipment in the plants that co-process waste. in the second quarter of 2023.
Thermal Substitution In Brazil, in 2022, we also signed an engagement agreement In Brazil, we started the process of expanding our
with an agency specialized in leveraging investments waste pre-crushing facility in Itaperuçu, Paraná, with
Globally, we have already replaced 26.5% of the fuels and competitiveness, to conduct studies related to the investments totaling R$6.8 million in 2022. The total
we consume with alternative energy sources, and we are modernization of our plant in Salto de Pirapora, in São project investment is R$24.5 million, to be implemented
committed to reaching 53% thermal substitution by 2030. Paulo. The project includes the modernization of the over the next few years. These initiatives will increase
different stages of the cement plant’s production line, access to and quality control over the waste used in
At VCEAA, we achieved a 33.2% thermal substitution rate in primarily aimed at increasing the site's thermal substitution our kilns, while also reducing costs and increasing co-
2022, as a result of our investments to modernize our plants. In rate and reduce CO2 emissions. processing productivity. This model is similar to the one
our site in Balboa (Spain), acquired at the end of 2021, we were we have in place in our plant in Rio Branco do Sul, Paraná.
able to reach a thermal substitution rate of more than 30% In Uruguay, we are currently the only cement plant to use
after we built a dedicated facility to co-process alternative alternative fuels, with a thermal substitution rate of more
fuels, in September 2022. And these numbers tend to grow than 30%.
even more as a result of the recent incorporation of a new
site, in Málaga, which is among the most efficient, and lowest At VCNA, we completed the adaptation of our plants in Cement plants with co-processing activities
emitting plants in Spain. This will unlock significant gains in Bowmanville (to double our co-processing capacity) and
technology, knowledge and productivity. Charlevoix (50% increase in the use of alternative fuels) and VCBR 15
started the process to obtain co-processing permits for our
At VCBR, we achieved a 31.3% thermal substitution St Marys plant. We increased VCNA’s thermal substitution VCNA 2
rate in 2022. We invested more than R$27 million in the rate to 6.8% in a highly-regulated operating environment.
VCEAA 11
VCLATAM 1
GLOBAL 29
72
Viter
Limestone with a high magnesium content, which is not To improve the customer experience, we also offer a delivery
suitable for cement production, finds a market in Brazil’s large service to save customers from having to spend time
agricultural segment through Viter, our exclusive Agribusiness contracting and arranging freight.
brand. Waste that used to be sent to landfills is reused as a
key agricultural input, reducing our environmental liabilities To expand our product offering in the south region of Brazil,
and contributing to the circular economy. we are expanding the Rio Branco do Sul (PR) site, which
is expected to start production of high-magnesium Itaú
We believe that the soil is the basis for all activities and Limestone and Optimix in October 2023. Another expansion
through Viter we awaken its maximum potential. In 2022, project underway aims to increase aglime production by the
we invested on diversification and created a Research and Itapeva plant starting in 2023. We also implemented a loading
Development area to continue to develop new products for scheduling system at the Nobres (MT), Salto de Pirapora (SP)
the Agribusiness, keeping our focus on market and customer and Rio Branco do Sul (PR) plants to reduce waiting times and
needs. In the town of Itapeva (SP), we have an experimental improve the customer experience (an initiative that is expected
station, a greenhouse, laboratories and an area for tests. be replicated in all other sites starting in 2023).
One of our research lines is soil correction, including new
nutritional concepts and other ways of supplying nutrients At VCNA, the Valley View Industries business acquired in
(e.g., through the leaves). As the results of our R&D efforts, 2021 and integrated into VCNA’s Prairie Materials site in
we are developing solutions to enhance crop production 2022, enhances our ability to supply agricultural limestone
and improve the quality of their outputs through providing to farmers and growers located in the center of America’s
protection against intense insolation and high temperatures. agricultural heartland.
Additionally, a key driver for our new developments is the
customer need for technologies that thoroughly fit in their
operational processes, making their lives easier.
Waste that used to be sent to landfills is reused as a

Viter employees
key agricultural input, reducing our environmental liabilities at a cotton
plantation
and contributing to the circular economy. in Brazil
73
Increased fertility
Learn about the products offered by Viter to improve agricultural production:
Itaú Limestone Optimix CalFértil Sungard

Essential for reducing soil acidity and A mineral fertilizer made up of an industrial It is a calcium and magnesium compound with Our sunscreen for leaves and fruits increases thermal
neutralizing toxic aluminum. It is made up of mixture of dolomitic limestone and agricultural a high degree of purity and fineness. Because comfort and protects plants from scalding, even
finely grinded high-reactivity calcium and gypsum. It is a soil corrective and conditioner it is highly soluble, it acts fast and is easier to on the hottest days. When it was first launched
magnesium carbonates. Liming also improves that increases productivity both on the apply than regular limes. It helps to enhance the it was used in citrus farming, but it has already
the absorption of nutrients by plants, surface and on the subsurface. It also contains soil’s physicochemical properties by increasing shown positive results with coffee, avocados,
renewing the soil’s productive potential. It magnesium and sulphur, which enable aeration and promoting root development. It is tomatoes, melons and watermelons. It increases
is indicated in the pre-planting stage. roots to expand their exploration area. a popular choice for sugar cane plantations. productivity and helps preserve fruit color.
74
PRODUCTION PROCESS
Our Production Process PRODUCTION

OF STEEL INDUSTRY
Steel Industry
and the Circular Economy PROCESS OF

VOTORANTIM
Mining THERMOELECTRIC
PRODUCTION
–
CIMENTOS Slag Steel
Mining Thermoeletric
Click on the interactivity icon for more information PRODUCTION

PROCESS
OF CONCRETE Ashes Eletricity
HIDRATED LIME
AND LIMEPAINT ADDITIONS
1. Mining
Energy
MINING WASTE HEAT RECOVERY
2. Grinding AGLIME
BIOMASS 1
3. Clinker production AGRICULTURAL Heat
PRODUCTION AGLIME
4. Cement griding Distribution

2
4
5. Distribution Distribution
Agricultural Biomass MORTAR
products waste AGGREGATES 3
CO2
USED TIRES Refuse-de-

rived fuel Distribution Final
product GROUTS
Bio-reactor CEMENT
MICROALGAE CONCRETE
5
MUNICIPAL SOLID WASTE
CONCRETE
Waste
SOLID
URBAN WASTE
Distribution
Recycling INDUSTRIAL WASTE

Waste/By-products
Industrial
Raw material products
INDUSTRIAL PRODUCTION
75
Energy Efficiency
–
GRI 3-3_302
Cement production requires large amounts of electricity. Therefore, the

search for sustainable sources that can reduce consumption and emissions
while also preserving natural resources is a continuous effort in the industry.
Our commitment is to have 45% of the energy we consume globally
come from renewable sources by 2030. In 2022, this percentage was
22.9%, up from 18.5% in 2021.
In 2022, we invested in the completion of a photovoltaic generation

facility in our Toral de los Vados plant, in Spain. With an installed capacity
of 6.2 MW, the facility is expected to supply 30% of the electricity used
by the plant starting in 2023. We also started construction of another
similar facility in Alconera, also in Spain.
In addition, 83% and 100% of the electricity used by our Asment

Temara (Morocco) and Tenerife (Spain) sites, respectively, come from
wind sources, which are completely renewable. Finally, in Tunisia, we have
a waste heat recovery (WHR) facility that converts the heat resulting
from combustion into electricity and reuses the water used to cool the
turbine, reducing electricity purchases by 29%.
“We are working to achieve maximum

efficiency in our processes while also
adopting a renewable energy matrix.“
Fabio Cirilo, global manager of Sustainability and Energy
Pedra do Cavalo HPP, Brazil

76
In Brazil, we have similar efforts in this area. Since February 2022,
we have been managing the 160 MW Pedra do Cavalo hydropower
plant (state of Bahia), which previously we had been co-managing
with Auren, formerly named Votorantim Energia. In addition,
we own four small hydropower plants and participate in the
Machadinho hydropower plant (HPP) consortium. Also, starting
in January 2023 our Ventos do Piauí wind farm, in the state of
Piauí, will start generating clean electricity, further strengthening
our strategic position in renewable energy generation and
consumption. The wind farm is expected to add 55 MW to our
installed generation capacity, increasing the share of renewable
energy in our matrix in Brazil to 49%.
In 2022, we continued to carry out studies to increase the

energy efficiency of our plants around the world. In Brazil, we
are replacing cement engines in Cantagalo to optimize energy
consumption by the plant. We installed filter capacitors in the
Zona Norte branch of Engemix, aiming to eliminate noise that
causes energy dissipation, resulting in higher production capacity
and full use of energy.
At VCNA, the St Marys plant in Charlevoix, where we made

major investments to modernize and improve operational and
environmental efficiency, earned the 2022 Energy & Environment
Award for Energy Efficiency from the Portland Cement Association
(PCA), the leading association and advocate for the cement
industry in the U.S. The Charlevoix plant was recognized for its
energy management and year-over-year reductions, competing
among a field of its top competitors.
In Uruguay, we invested in a new mill that is expected to increase

our energy efficiency and, consequently, reduce production costs.
We are also building a solar plant and wind power plant that will
start operating in 2023.
Ventos do Piauí wind farm, Brazil

77
Environmental Management
–
GRI 3-3_300
Our environmental approach is guided by our Global audits, risk management and compliance, we
Environmental Policy. We also have our Green also use a self-assessment tool for all industrial
Rules, a set of 10 rules that translates our policy managers as a way to ensure compliance with laws
into practical terms and guides the activities of all and internal regulations.
areas and the behavior of all employees regarding
environmental issues. In addition, we have internal In Brazil, in the second half of 2022, we hosted
procedures specifically related to our Environmental Environment Week, with the theme “Protect to
Management System (EMS) and regulations that last“. The activities included lectures (delivered by
apply to each business. employees from different sites) that addressed
issues like recycling, co-processing, recovery of
Our EMS is based on the ISO 14001:2015 mined areas, ESG and sustainable tourism. In line
standards, which guided the creation of our with best practices in environmental management,
Operational Environmental Performance Indicator we implemented initiatives that included reuse of
(OEPI) to monitor the results of our sites. The internal waste (e.g., transforming used uniforms in
indicator includes legal requirements, new key chains, reusing pallets in internal areas of the
and renewed licenses, grants, environmental Cantagalo plant and reusing drums for recyclable
authorizations and compliance with their waste collection in Porto Velho).
conditions, environmental risk management,
solid waste management, water management, All active VCNA cement plants maintain ISO 14001
contamination prevention, air emissions, certifications as well, and operate under the
biodiversity and recovery of degraded areas. oversight of their respective regulatory authorities
that require environmental performance within
At VCEAA, all our plants are ISO 14001 certified. established thresholds determined to be safe for
In addition to monitoring routine environmental employees, lands and the communities surrounding
indicators, internal, external and certification our operations. Atlantic Forest
Reserve at Legado
das Águas, Brazil
78
Our McInnis plant in Canada
Air Emissions
–
GRI 3-3_305 | SASB EM-CM-120a.1
Particulate NOx and
We recognize that air pollutants—including particulate matter | Particulate Matter (PM): Investments directed toward bag matter emissions SOx emissions
(dust), nitrogen oxide (NOx), sulfur oxide (SOx) and others— filters, a more efficient technology that can retain more (g/tonne clinker) (g/tonne clinker)
are emitted during the cement production process, and we particles. We plan to replace 100% of our electrostatic filters GRI 305-7 GRI 305-7
are formally committed, as expressed through our Global with bag filters. In 2022, we replaced our filters in Niebla
Environmental Policy, to implement environmental standards (Spain), Sobradinho (Brazil) and Itaú de Minas (Brazil).
SOx NOx
to assess and monitor our emissions and set reduction
| Nitrogen Oxide (NOx): Investments directed toward
targets. In 2020, we committed to reducing our emissions of
NOx reduction. In 2022, we installed new systems in 44 1,483
PM, NOx and SOx to 30 g, 1,400 g and 490 g per tonne of 1,394 1,416
the Santa Helena (Brazil) and Xambioá (Brazil) sites. 38 38
clinker, respectively, by 2030.
| Sulfur Oxide (SOx): At VCNA's Bowmmanville plant, a new
To ensure compliance in our operations, we monitor our wet scrubber installed in 2021, was extensively tested,
762
air emissions (fixed and mobile) according to the guidelines trialed and operated during the year, with dedicated staff 667 687
established by Internal Standard number 3532 - Monitoring added to manage its operations. This investment has the
Air Emissions and applicable local laws. We have an investment potential to reduce the plant’s SOx emissions by up to 90%.
2020
2021
2022
2020
2021
2022
plan that includes new technologies and the modernization of
our plants to reduce their main pollutants by 2030:
79
Biodiversity
–
SASB EM-CM 160a.1
We are committed to protecting water resources and One of the highlights was the conclusion of the
biodiversity by managing protected areas and developing environmental recovery project at the Boa Vista site
mine rehabilitation plans. The implementation of (Sobradinho plant), with the planting of 3,500 seedlings
biodiversity management plans in sensitive areas is one of of native species from the Cerrado biome in an area of
our 2030 Commitments. 1.3 hectares. This not only contributed to the recovery of
biodiversity in the site area, but also led to the creation of
In Brazil, for the past 11 years we have maintained an ecological corridor that facilitates the transit of fauna
partnerships with the Brazilian Society of Speleology species between adjacent natural areas. The environmental
and the Brazilian Atlantic Forest Biosphere Reserve recovery project was considered successful by the Institute
to support initiatives to preserve caves and conserve of the Environment and Water Resources of the Federal
habitats in the Atlantic Forest. We also sponsor Legado District (Brasília Ambiental), which issued the official
das Águas, an area of 31,000 hectares in the state of São discharge term for the mine.
Paulo that constitutes the largest private reserve of the
Atlantic Forest in the country. In addition to protecting In our Fazenda São Miguel (Itaú de Minas), also in Brazil, we
highly sensitive habitats, Legado das Águas promotes the manage an area of 5,800 hectares, of which 1,823 hectares
conservation of ecosystem services, such as water supply are legal reserve and permanent preservation areas and
and ecotourism, generating income and other benefits for 557 hectares of surplus preservation areas. Over the past
local communities. few years, we have been carrying out awareness campaigns
with a focus on reducing fires, especially during periods of
Biodiversity conservation management covers aspects drought. The implementation of activities in the area includes
of all phases, from the planning process to the closure of partnerships with the Environmental Police and local rural
an asset. In 2022, more than R$4 million were invested producers, specific training with the Brigade of the Serra
in ARO resources (Asset Retirement Obligation) for the da Canastra National Park, and signs and communication
closure of mining areas, including activities related to the campaigns for the population and through the media. This
demobilization of facilities and environmental recovery. work resulted in a 47% reduction in fire outbreaks and 40%
reduction in burned areas compared to 2021.
Employee in our
Cajamar plant, Brazil 80
VCNA and VCEAA

At VCNA, in Aberfoyle (Ontario, Canada), we created a vernal What does the year 2030 that
pool to help amphibian species reproduce and reoccupy
their space in the wild. Another successful initiative is CBM's you’re creating today look like?
McMillan aquaculture project. It started in 2014 and our
monitoring indicates that nutrient levels in the wetlands To help create awareness of the impacts that
surrounding the mine have now reached the desired level, our everyday activities have on the planet,
10 years after they had been deemed too low. Thanks to the the UN Global Compact (in partnership with
success of the initiative, we are considering implementing this Votorantim Cimentos, Oxiteno and Imagine 2030)
same technique in other areas. developed an interactive platform that help
users understand how their choices contribute
We are also evaluating an initiative to develop an ecosystem to creating the world of the future. By answering
in the wetlands surrounding the southern area of our CBM 10 questions, they can learn more about the 17
Aggregates division’s Sunderland mine. The activities being Sustainable Development Goals set by UN to be
carried out include the monitoring of water level and quality, achieved by 2030, and understand how each
erosion control and the planting of vegetation along the banks choice reflects on the environment and society.
to attract native species back. Click here to take the test.
Lastly, CBM is also assessing an area in Godfrey, Ontario, to

host a bee pollination project. To attract more bees, they are
organizing the planting of different types of plants, such as Sustainability in the quarry
buckwheat, and also studying long-term improvements in the
quality of the soil in the region. In 2022, the Prebetong Lugo quarry became one of the
first quarries in Spain to achieve Sustainable Mining
At VCEAA, at our Malaga site (Spain), artificial water points Management certification (UNE 22480:2019), which
were created to increase ecological connectivity at the La confirms that the company implements continuous
Utrera mine. The initiative is part of the mine’s Biodiversity improvements with regard to economic, social and
Management Plan and aims to retain rainwater and make it environmental criteria linked to mining activities.
available for use by the local fauna, strengthening trophic The certification process takes into consideration
relationships and ecological dynamics at the site. Once the aspects such as occupational safety, occupational
water points are installed, temporary monitoring will be risk prevention and proper management of natural
carried out to determine the patterns of colonization and use resources, in addition to local engagement and hiring
by different species of animals. of local labor and suppliers. Employees in the
Rio Branco do
Sul plant, Brazil
81
Water
–
Recognizing the importance of water for the survival and quality of life of
populations, we adopt measures for its sustainable use and to prevent our
water withdrawal activities from having a negative impact on water courses.
To adopt more efficient standards for water consumption, our sites have been
supporting different initiatives. One example is our new distribution center
in Guarulhos (SP), inaugurated in 2022, where we installed a closed circuit to
reuse water used by forklift washers.
At the Port of Imbituba, in the state of Santa Catarina, ship unloading and
coke loading operations require a large amount of water to reduce airborne
dust. Since the beginning of operations in 2003, by using a treatment plant
that can treat 40 m³/h of industrial effluent, we have stored up to 420 m³ of
raw and treated water. Most importantly, everything works in a closed circuit.
In 2020, faced with the need to expand our water treatment and storage
capacity, we doubled the amount of equipment to treat water and increased
the capacity of the storage tanks in our unit to 1,226 m³. The key to not
relying solely on public water systems is reusing rainwater. Our calculations
show that in almost 20 years, approximately 1,000 m³ of rainwater were
captured and stored every month, corresponding to half of the water used to
keep coke moist, a process that must be done several times a day.
Votorantim Cimentos Tunisia installed a reverse osmosis unit to reuse the

rejected water from the Waste Heat Recovery system. Now, 80% of the
treated discharged water is reused in the production process, and 20% is used
for cleaning and watering the quarry area.
Atlantic Forest
Reserve at Legado
das Águas in Brazil
82
Sustainable Procurement
–
Our supply chain has the potential to cause impacts on the Increase local purchases – One of our 2030 Commitment Increase purchases from suppliers with diverse leadership
environment, working conditions and human rights. Therefore, is to increase the percentage of local purchases to 60%. In teams – In 2022, we carried out a survey in Brazil to gather
we pay close attention to ensure that our suppliers comply 2022, this percentage was 54.0%. This KPI has been strongly information about the profile (gender, color, disability and age)
with the law and with our procedures. affected by higher fuel prices, since most of the pet coke of the executives of these companies. We sent a questionnaire
used in Brazil is imported. Nevertheless, we continued to to more than 9,000 registered suppliers from our database
In 2020 we created the Sustainable Procurement Program in increase our local purchases from areas surrounding our and received 1,000 responses so far. The next step will be
Brazil to boost social and environmental benefits, generate operations. For example, we signed a five-year contract with to analyze the data to plan initiatives to prioritize diverse
income in the locations where we operate, reduce the carbon a local supplier from Primavera (PA), through which we will suppliers in selected categories.
footprint of our supply chain, increase diversity and inclusion not only hire their services, but also help them develop and
among our suppliers and drive the creation of innovative solutions prepare to be an important supplier for our local plant. Engage our teams to incorporate best practices in
in collaboration with our partners. Initially created to last for sustainability into procurement – Several initiatives are
three years, in 2022 we reassessed our approach and decided to Strengthen our relationships with suppliers that have already part of our daily routine. For example, working together
maintain and expand the program in the coming years. superior ESG practices – For our purchases to be truly with our catering service providers, we have set goals to increase
sustainable, our partners must follow best practices in purchase from small local farms, to reduce water consumption
In line with our Purchasing Policy, the Procurement social and environmental management and comply with all and to avoid wasting food. All critical categories have pre-
Department seeks to create value not only through established requirements. Today, 100% of our suppliers in established minimum sustainability requirements (and only after
competitive prices, but also by ensuring optimum total Brazil go through a registration process where all financial, they are met will our negotiatiors discuss price). Our new mining
cost of ownership, by preventing supply breaches and by legal and environmental requirements for each supply category service contracts require a minimum of 8% female drivers. We
fostering sustainable practices along the entire supply chain. are evaluated. Depending on a risk analysis, suppliers will then require all electric engines to have an energy efficiency seal.
Even though each of our regions has its own Procurement be re-evaluated every year (high risk, such as sand), two years
department, they all maintain close collaboration through (medium risk, such as maintenance services) or three years (low
monthly meetings and a Global Sourcing program for selected risk, such as office supplies). Our goal is to help all our suppliers
categories that provides leverage to negotiate purchases for all improve so we can continue working together.
the countries at once.
In 2022, initiatives to support the five key objectives of the

Sustainable Procurement program included:
83
Reduce waste production along the Pillars of the VCBR Sustainable Procurement Program
supply chain – In 2022, we completed
a pilot project to upcycle uniforms to Pillars 2022 Achievements
produce handicrafts at the Santa Helena Sustainable Supply Chain 1. Procurement Policy: inclusion of social and environmental criteria
plant, in the town of Votorantim. This policy and strategic plan 2. Sustainable procurement training for category managers and Supply Chain leaders
creates an optimal solution for waste 3. Strategic goals (2030): endorsement by senior leadership
4. Definition of KPIs for the 2030 strategic goals
disposal, while also empowering low-
5. Local purchases target for part of the team
income women and supporting the local 6. VC Integrated Report: report on the Sustainable Supply Chain Program
economy by generating income through
Incorporating sustainability into 1. Creation of a Sustainability Risk Matrix for categories and suppliers
the sale of the items produced.
the process (planning, sourcing 2. Quarterly Risk Committee meetings
and contract management) 3. High-risk suppliers mapped, and seven action plans monitored by the Risk Committee in three years
In 2023, we plan to continue to invest
Incorporating sustainability into the 1. Re-registration routine, according to each supplier’s risk level
in other circular initiatives in our plants.
process (registration and re-registration) 2. Inclusion of a Sustainability Survey (voluntary) in registration and re-registration processes
Currently, objects such as hammers and 3. Creation of a dashboard to monitor the process
industrial cups are disposed of as scrap 4. First analyzes of the Sustainability Survey
metal, but it is possible to create reuse
Supplier portfolio management 1. Initiative rescheduled for 2023
mechanisms. We already do that with
refractory items: bricks used to build Sustainable technical requirements 1. Definition of technical requirements including social and environmental criteria applied to procurement processes
kilns are reprocessed when these kilns are 2. Call for proposals in six pilot categories, between 2021 and 2022
3. Communication to internal requesters via contract management
disassembled and go back to being bricks,
completing the reuse cycle. Internal customer assessment 1. Review of our assessment instrument (IQF – Supplier Qualification Index) and, in 2022, audits including the
of suppliers (IQF) support of 135 internal auditors to assess 175 partners, from 21 categories, working in 22 VC sites
2. Review of the categories, questions and sites that will carry out assessments
3. Inclusion of two new award categories: Local Supplier and Sustainable Supplier
Pact with strategic suppliers 1. Quarterly Committee meetings to monitor the implementation of projects
2. 39 projects mapped and 32 completed in the three years
3. Launch of Rede Transformar (“Transformar Network“) for social co-investment with suppliers, totaling R$825,000
raised together with our suppliers.
Development of local suppliers 1. Signature of contracts with local maintenance providers in Corumbá and Primavera, working in partnership with
the Social Transformation area of Votorantim Cimentos. Mapping of potential suppliers in Cuiabá and Xambioá to
be developed in 2023.
Supplier recognition program (VC Partner) 1. Annual recognition event hosted
Communications of the Sustainable 1. Training: sustainable procurement, Risk Matrix, Local Procurement Matrix, IQF
Supply Chain Program 2. Events: engagement with strategic suppliers for the development of innovation and sustainability projects, Rede
Transformar and VC Partner
3. Communication of the results of the Sustainable Supply Chain Program at external events and through the media
84
Social Transformation
–
Value for Communities
GRI 413-1
Our social performance is based on a deep respect for We continued to invest in social transformation projects,
human rights. We implement initiatives to foster diversity, totaling R$18.1 million globally. We prioritized initiatives
guarantee income and housing, fight prejudice, promote connected to the business (e.g., social housing), efforts to
culture, education, income generation and protect the rights strengthen public management and improve education,
of children and adolescents. We are present in more than 300 and others aligned with local needs and priorities for our
locations around the world, where we work to create a positive communities. In addition, in Brazil we coordinated the social
legacy for present and future generations. initiatives implemented by the Pedra do Cavalo HPP, including
voluntary investments and institutional commitments made
Generating shared value is part of our social strategy, which
with the community.
includes specific commitments to be fulfilled by 2030:
| 90% of our operations with community engagement, VCBR
impact assessment and/or development programs. External
VCNA social investment
| 20% of our employees engaged in volunteer initiatives. VCEAA
(R$million)
VCLATAM
| 60% local supply by encouraging local purchases.
18.1
0.6
3.3
We have procedures and policies that support our social
strategy on a global and local level, such as the Procedure for 12.7 2.1
11.7 0.7
Implementing and Executing Community Relationship Plans, 0.8 1.5 12.1
2.2
the Corporate Volunteer Policy and the Social Intervention 1.7
0.8 8.7
Guide for Environmental Licensing. In 2022, we began 8.0
developing a Relationships with Indigenous Peoples and VCBR

Communities Policy, which establishes guidelines for our social VCNA
2020
2021
activities and relationships with these groups. 2022 VCEAA

VCLATAM
18.1 Xambioart project
in Xambioá, Brazil
0.6
3.3
85
Volunteer Program
In 2022, with the return of in-person activities, volunteering
activities were also resumed with great intensity in all regions. In REDE TRANSFORMAR
Brazil, Joga Junto (“Playing Together“), our corporate volunteering (“TRANSFORM NETWORK“)
program, ended the year with a campaign that engaged 577
employees in education, housing and accessibility initiatives. In 2022, we launched the Rede
In partnership with Habitat for Humanity Brazil, 189 volunteer Transformar program, a social and
employees participated in “Bricklayer’s Day“ and used our products environmental impact initiative that
to change living conditions and create a positive legacy within strengthens Our Way of Thriving. The
vulnerable communities. program operates in two strategic
areas, housing and the standing
At VCNA, employees from all sites joined forces with others from the forest, and aims to raise funds from
communities around our sites and offices to plant 7,000 trees on our our suppliers and partners to improve
properties and in public places, such as town squares, parks and schools. housing conditions of vulnerable
Adults and children from local schools participated in the activity, which families, strengthen the bioeconomy and
included the distribution of resources and an educational component accelerate social impact businesses.
that stressed the importance of trees for environmental preservation.
The activity was such a success that it will be repeated in 2023. During the year, the program’s first
investments were made, totaling
At VCEAA, we organized more than 40 volunteering initiatives, R$825,000 raised together with our
including planting trees, cleaning beaches, plogging, facilitating suppliers. The first cycle of renovation of
awareness sessions in schools and collaborating with soup kitchens. unhealthy houses took place in Curitiba,
Employees dedicated more than 1,900 hours to volunteering activities Paraná, in partnership with the company
to benefit the communities where we operate. At our plant in Vigo, MC Química, one of the Rede’s partners.
Spain, our employees participated in a volunteer environmental
initiative as part of the Libera project, “United against waste“. The By 2025, Rede Transformar intends to
activity aimed to raise awareness about reducing waste production as improve the housing conditions of 700
a way to preserve life and biodiversity. In addition, our employees at families (in partnership with Habitat
the Madrid office collaborated with a soup kitchen center offering hot for Humanity) and to accelerate 38
meals to people at risk of social exclusion. In Morocco, we delivered bioeconomy-related businesses (with the
breakfast to an orphanage and a nursing home during Ramadan (Iftar). support of Prosas) in the Amazon region.
Employees in a In Tunisia we carried out a tree planting campaign and in Türkiye we
volunteer initiative distributed food to people at risk of social exclusion.
in the Heliópolis
Community, Brazil
86
Housing
In Brazil, for the fifth year, we invested in LAB Habitação, a program
carried out by Artemisia and Gerdau, with support from Votorantim
Cimentos, Vedacit and Léo Social. The initiative aims to drive
business in the housing sector, strengthen its solutions and amplify
the positive impact they produce. In 2022, we selected 15 impact
businesses related to low-income housing; land regularization;
access to quality housing; energy, water, waste and sanitation;
Launch of the Soma
project, Brazil
employability and training; and home renovations, which we will
continue to support next year.
Working closely with our internal stakeholders, we held the 2nd

SOCIAL RENT - SOMA Reforma VC event in Brazil, a home renovation program involving
our employees from the Engemix business. This year, house
We are investing in the construction of a The initial investment in the project is R$14.5 renovations took place in the city of São Paulo, in partnership with
building in downtown São Paulo that will offer million, raised through Real Estate Receivables Comuta, a social impact business accelerated by LAB Habitação.
affordable rent to 110 low-income families. The Certificates (or CRIs, a financial instrument
initiative is part of the SOMA (Organized System for real estate investments). Criteria for We continued our partnership with Habitat for Humanity in Brazil
of Affordable Housing) Project, which offers the selection of families will be defined in and, throughout the year, carried out 416 home renovations in the
investors the chance to combine profitability with collaboration with other organizations that communities of Heliópolis (São Paulo), Parolim (Curitiba) and Recife,
social impact and is supported by Votorantim advocate for decent housing access. generating a positive impact for 1,596 low-income individuals,
Cimentos and other companies. The building, with including female-headed households.
housing units measuring 25 square meters, is In addition to being fully aligned with our
expected to be completed by the end of 2023. ESG strategy and our 2030 Commitments, Through another partnership with Habitat for Humanity, we joined
the project contributes to the Business efforts to improve housing conditions in Brazil and invested in Rede
Conceived by Grupo Gaia, Din4mo and Transformation pillar of our 2030 Strategic Colabora. The initiative brings together 60 housing-related impact
Incorporadora MagikJC, the project will provide House since it introduces us to a new type of businesses and aims to expand knowledge and promote social
low-income families with access to decent social business investment. The project also agendas, such as the inclusion of female labor in civil construction
housing in the center of São Paulo, with a positive strengthens our Way of Thriving by helping and credit for low-income populations.
impact on people’s lives and on urban occupation create a positive legacy and lasting results.
and mobility. This development model can be At VCNA, we also partnered with Habitat for Humanity by donating
replicated in other Brazilian cities; the goal is to concrete to the organization’s site in the state of Illinois.
build ten new buildings in the next five years.
87
Education
We actively participate in the Partnership for the Enhancement In Morocco, as in previous years, our cement plant sponsored
of Education (PVE, for its initials in Portuguese) program, 20 women from the Ain Atig region to participate in an
carried out jointly with the Votorantim Institute. In 2022, 499 employability program that included sewing, cooking, baking
schools and 57,994 students benefited from the initiative. In and hairdressing. And in Türkiye, we participated in the Million
the town of Cachoeira (BA), the program facilitated the creation Women Mentors program led by Stem Connector, through
of school committees including teachers, students and family which STEM university students are mentored by STEM
members to discuss the implementation of educational projects professionals.
and the creation of a Municipal Anti-Racist Plan. In Limeira (SP),
the Municipal Department of Education started a Situational In addition, four technical managers participated in a six-
Strategic Planning process with a focus on process organization month mentoring program that included networking and
and preparation for tactical decision-making. Student unions preparation for professional life, among other topics. One of
were also created in the schools. the participants had the opportunity to complete a summer
internship in our Hasanoğlan cement plant. In the city of
In addition to the PVE program, we offered professional training Sivas, we continued to sponsor the local sports club Çimento
to 113 women in the communities of Xambioá, Laranjeiras Spor Klubü, which offers activities for young people in the
and Itaú de Minas. In the town of Vidal Ramos, we invited 150 community.
people from the community for a lecture on diversity. And in
Itaú de Minas, we developed a mental health program for public At Cementos Itacamba, in Bolivia, we sponsored training to
school students through our Community Council. help prepare community firefighters to put out fires in local
forests. We helped repair and renovate the Germán Busch
In Spain, we organized several sessions in local schools close to School, in Yacuses, eight schools in the town of Puerto Quijaro,
our cement plants to increase awareness among students— and the Antonio Rainer School, and provided scholarships to
especially girls—of STEM-related careers. students of Infocal, a technical school located in Santa Cruz.
In Tunisia, employees in our cement plant worked in At VCNA, for the 25th consecutive year, children of our
partnership with a local school to offer environment employees were able to apply for US$2,000 and US$1,000
awareness sessions. renewable college scholarships, as part of a program that
combines continuing education with employee engagement.
ReDes Program
in Brazil 88
Supporting Local Labor and Income Generation

Keeping our commitment to accelerate the development of
communities through activities increasingly connected to our
business, we continued to invest in the professional training of the
local workforce through our Evoluir program. In 2022, 133 students
from the communities of Corumbá (MS), Itaú de Minas (MG), Edealina
(GO), Nobres (MT) and Vidal Ramos (SC) benefited through courses
such as Electromechanical Technician, Mechanical Fitter, Machinery
Lubrication, Pneumatic Systems and Machine Elements, Forklifts and
Mobile Machinery. AGROFORESTRY SYSTEM –
PRIMAVERA (PA)
We continually seek to support entrepreneurship and the creation
of jobs and income in our communities. In 2022, we offered a sewing In partnership with the Votorantim
course to women from the community of Machado, in Laranjeiras Institute, we are supporting the
(SE); in Primavera (PA), as part of the Castanha and Siquiriba projects, technical and practical training of
we offered four vegetable garden courses, with an income increase small farmers in the Primavera
of more than 40% for the 10 benefited families; in Xambioá (TO) we region in Agroforestry Systems
trained 69 women for the job market by offering classes in baking, (AFS), based on a benchmark
confectionery and sewing as part of the Community Council initiative. methodology used in Tomé-Açu.
And in our site in Itacamba (Bolivia), we supported projects related to The objective of the project is
fish farming and community gardens. to share knowledge about the
systems, foster family income
Through the ReDes Program, developed in partnership with the generation, create opportunities
Votorantim Institute, we generated R$435,000 in income, benefiting for local development and support
groups that work with waste management, recycling and fishing, standing forests. The first session
among other activities, in the communities of Itaú de Minas, Rio was attended by more than 30 local
Branco do Sul and at the Pedra do Cavalo HPP. We also trained 75 farmers and included practical soil
people in Laranjeiras and Primavera through our Valor Program. preparation and planting activities.
Close to our plant in Xambioá (TO), we started the implementation of

a volunteer action plan to strengthen the relationship with indigenous
peoples and communities through the support of production chains
made up of the Suruí Aikewara indigenous people.
Açaí seed in
the Primavera
region, Brazil
89
Social Collaboration
COMMUNITY COUNCILS
In Bolivia, Cementos Itacamba invested in the
expansion of the Príncipe de Paz Hospital, in Made up of citizens who care about the well-
Puerto Quijaro, which included the construction being of their communities, the councils
iV VENTURES of new wings with rooms, laboratories and a work on issues of local interest to promote
pharmacy; the donation of a generator to supply social development and serve as a forum to
With a focus on innovation and to energy to the San Juan de Diós Hospital, in Puerto promote open dialogue with members of the
advance relevant social issues, we are Suarez; and the donation of air conditioners and communities surrounding our operations.
members and investors of iV Ventures, a computers to the Yacuses public health clinic. In 2022, we continued our partnership
ReDes
“Venture Philanthropy“ fund—a first-of- Program with these groups to encourage the
its-kind initiative in which all Votorantim In Spain, we collaborated with the Virgen de la Milagrosa in Brazil empowerment of communities based on their
S.A. portfolio companies participate. Institution, in Málaga, for the collection of Christmas local talents and resources.
The fund has R$20 million to invest in products for donation. This collaboration was born as a
impact startups that are developing result of the pandemic and, since then, different campaigns In 2022, we engaged the community of
solutions in the areas of Social Interest have been carried out to help the more than 95 people that Fercal, in the Federal District, in the creation
Housing, Water and Sanitation, and Low the religious institution serves in the El Palo area. of a call for proposals for development
Carbon Economy. In 2022, the first three projects focused on education, culture and
investments were made: Deep ESG (a Also in Spain, in 2022, with the company’s support, VCEAA the strengthening of local organizations. A
platform for measuring ESG indicators), employees from the Toral de los Vados, Niebla and Vigo participatory process involving leaders, local
iWaste (a waste treatment solution for plants donated a total of €6,500 to the food banks of Toral authorities and community representatives
large generators) and Green Franchises and Sil-Ponferrada. These funds will be used to purchase supported different organizations in the
(a franchise of recycling cooperatives food and basic need items for distribution to NGOs and development and presentation of projects.
with a methodology for increasing other social assistance institutions in the area.
efficiency and income). We will continue We engaged 14 communities around our
our participation in 2023 to further In Morocco, we donated approximately €6,000 to purchase Sobradinho plant and supported six projects
leverage positive social impact in line food baskets to the plant’s neighboring community during that were selected by the judging committee.
with our sustainability commitments. the Aid Adha feast, which is considered to be the most One of them was from Mel da Terra
important cultural event in Morocco, and to organize Itfar Association, which will use the funds to help
(a meal taken at sundown to break the daily fast during strengthen the volunteer firefighting brigade
Ramadan) in an orphanage and a retirement home. and promote cultural projects.
90
Our impacts
–
Job creation and income generation
Training and human development

Pressure on local infrastructure
Emissions of particulate matter
Impact on soil, biodiversity and
Impact on archaeological and
Employee health and safety

GRI 3-3
Revenue/return generation
Dependence on fossil fuels
Use of natural resources

NOx and SOx emissions
vegetation suppression
We map the actual or potential, negative
paleontological sites
and positive impacts of our activities on the
Effluent production
Waste management
environment, economy and people, correlating
Tax generation
them with our material topics. In our analysis,
GHG emission
Human rights
we consider our key activities: construction
Diversity
of plants, mining, production, logistics,
sales, research, process management,
Noise
communication and co-processing.
Related material topics CM AE AE CE CM, CE CE CE CM, CE x SW E IT D x E, SW, D D D SW
Construction of plants – – – – – – – – – + + + – + + –
Mining – – – – – – – – + + + – + + –
Production – – – – – – – – – – + + + – + + –
Logistics – – – – – – + + + – + + –
Sales – + + + + + + –
Research + + + + + + + + + + + + + + + + +
Process management + + + + + + + + + + + + + + + + + +
Co-processing + + + + + + + + + –
Key CM Climate change CE Responsible use of materials, E Ethics, integrity and transparency SW Safety, health and well-being
AE Air emissions waste and circular economy IT Innovation and technology D Diversity and inclusion
91
Monitoring our 2030 targets

–
On track for 2030 Deviation from the path to 2030
Pillar SDG Initiatives in 2022
1. We operate with We reviewed some of our internal policies, such as Anti-Corruption and Risk Management, and instituted Policy 001, which guides all internal procedures. We
integrity and transparency improved our Ethics Line by bringing it closer to our employees and created a simpler portal to file and monitor reports, which is also more inclusive for people
with disabilities.
Pillar SDG Indicator 2030 Target Initiatives in 2022

2. Safety, health Lost-time injuries Global lost-time injury rate lower than Our accident frequency rate went from 1.14 in 2021 to 0.0.70 in 2022,
and well-being are 0.40 reflecting our emphasis on strengthening our culture and accident
fundamental values prevention initiatives.
Fatalities Achieve zero fatalities in Health and safety are non-negotiable values. In 2022, we once again ended
our operations the year without employee fatalities.
Employee satisfaction Achieve at least 85% favorability We achieved 75.9% favorability in satisfaction and well-being surveys
and well-being in climate surveys (67.4% in 2021).
3. Innovation: we Revenue from sustainable 30% of revenue from sustainable Revenue from sustainable solutions went from 24.8% to 31.4%, thanks to
co-create sustainable solutions solutions increased sales of products with a lower environmental footprint.
solutions
4. A diverse and Gender diversity in At least 25% of We increased the percentage of women in leadership positions from 20.2%
inclusive environment leadership positions leadership positions to 21.0%. This number is aligned with our strategy in this area.
occupied by women
Employee perception Achieve at least 90% favorability in the The favorability in diversity and inclusion surveys was 81.1% (the same as
diversity and inclusion survey the previous year).
92
Pillar SDG Indicator 2030 Target Initiatives in 2022
5. Reducing our Net CO2 emissions Achieve 475 kg of net CO2 emission Our CO2 emissions went from 597 kg/tonne of cementitious product to 579,
environmental footprint per tonne of cementitious product as a result of the implementation of the decarbonization roadmap globally.
Dust emissions Reduce the emission of dust per tonne We maintained our emissions of particulate matter at 38 g/tonne of clinker.
per tonne of clinker of product to 30g/tonne of clinker Investment plan for filter modernization under implementation.
SOx emissions per Reduce the emission of SOx per tonne In 2022, we had an increase in SOx emissions from 687 to 762 g/tonne
tonne of clinker of product to 490g/tonne of clinker of clinker. The increase is concentrated in two plants (Brazil and Canada) -
ongoing efforts to reduce emissions.
NOx emissions per tonne Reduce the emission of NOx per tonne In 2022, we had an increase in NOx emissions from 1,394 to 1,416 g/tonne
of clinker of product to 1,400g/tonne of clinker of clinker. The increase is primarily concentrated in two plants (Spain and
Tunisia). Plans to install abatement systems currently being developed.
Renewable electricity Achieve 45% renewable electricity Renewable energy sources accounted for 22.9% of our consumption,
compared to 18.5% in 2021, as a result of the implementation of energy
initiatives globally.
Water and biodiversity Evolve in the implementation of our At VCBR, seven sites have biodiversity management plans that include
management plans water and biodiversity management initiatives to address specific local needs (e.g., conservation of habitats,
plans in sensitive areas monitoring of fauna, mapping of water bodies, training of firefighting and
fire prevention teams, environmental education for students and workers).
6. Promoting a more Thermal substitution Achieve 53% thermal substitution Our thermal substitution rate was 26.5% in 2022 (compared to 22.4%
circular business in 2021) thanks to the modernization of our plants with co-processing
environment technology and the development of new sources of waste and biomass.
Percentage of clinker Reduce the clinker/cement factor to 68% We continue to work in the optimization of our portfolio of products,
in cement exploring circular economy opportunities and developing cementitious
materials to reduce our clinker factor. As a result of this effort, we ended the
year with a clinker factor of 73.9% (compared to 74.9% in 2021).
Percentage of returned 70% returned concrete recycled The percentage in 2022 was 89%, compared to 93% in 2021. Despite the
concrete recycled reduction, we keep the result above the target.
7. Generating shared Operations with community 90% of operations with community The percentage of our sites with engagement programs increased from
value in our communities engagement, impact engagement, impact assessment 45.1% to 62.6%.
assessment and/or and/or development programs
development programs
Employees engaged in 20% of employees engaged We increased the percentage of employees engaged in volunteer initiatives
volunteer initiatives in volunteer initiatives from 4.9% to 6.7%.
Local supply 60% local supply We decreased the percentage of our expenses with local suppliers from
56.3% to 54.0%.
93
11.
Annex
■ GCCA Charter
■ KPIs GCCA
■ GRI Content Index
■ SASB Content Index
■ Annex GRI & SASB
■ Assurance Letter
■ Corporate Information
Employee in the St Marys plant, Canada

11 . ANNE X
GCCA Charter
–
Sustainability Pillars and Reporting
Requirement Specification Page on Integrated Report Additional information
Health and Safety Apply the good safety practice guidelines of the GCCA 51 Global Health and Safety Policy
Promote the sharing of good health practices 51 Life Saving Rules
Report annually to the GCCA employee safety data in line with the guidelines 96 –
Climate changes and Energy Develop a climate change mitigation strategy, and publish targets and progress 93 Our 2030 commitments
Report annually to the GCCA climate change data in line with the guidelines 96 –
Social Responsability Publish a Code of Conduct incorporating the principles of internationally proclaimed human rights 37 Code of conduct
Apply the Social Impact Assessment guidelines 85 Social Transformation
Establish a systematic dialogue process with stakeholders 5,40 Materiality, Ethics Line
Environment and Nature Apply the Environment and Nature guidelines 68 Global Environmental Policy and Green Rules
Brazilian Business Committee for Biodiversity
Set emission targets and report publicly on progress 93 Our 2030 commitments
Report annually to the GCCA emissions, biodiversity and water in 96 –

line with the guidelines
Circular Economy Promote the principles of circular economy across the value chain 93 Our 2030 commitments
Apply the guidelines developed for fuel and raw material use in cement production 93 Our 2030 commitments
Report annually to the GCCA circular economy data in line with the guidelines 96 –
95
11 . ANNE X
KPIS GCCA
–
Climate protection 2020 2021¹ 2022 Emissions reduction¹ 2020 2021 2022
Total CO2 emissions - gross (million tonne) 20.4 24.9 23.2 Overall coverage rate (KPI1)² 85% 82% 93%
Total CO2 emissions - net (million tonne) 19.6 24.0 22.3 Continuous measurement of Coverage rate (KPI2)³ 100% 100% 100%
Specific CO2 emissions - gross (kg/tonne of cementitious product) 599 619 604 Dust - coverage rate (%) 100% 100% 100%
Specific CO2 emissions - net (kg/tonne of cementitious product) 576 597 579 NOx - coverage rate (%) 100% 100% 100%
Scope: Cement operations in Brazil, VCNA, VCEAA, Bolivia and Uruguay. The emissions were calculated considering the guidelines of the Cement CO2 and SOx - coverage rate (%) 100% 100% 100%
Energy Protocol from GCCA.
VOC/THC - coverage rate (%) 96% 96% 99%
¹ Increase due to a change in scope and the acquisition of two new cement operations (McInnis and Balboa), which were still at a lower level of thermal
substitution and clinker factor, in addition to reduced thermal substitution in some regions due to limited access to waste caused by the pandemic in a time of PCDD/F - coverage rate (%) 85% 83% 93%
increased cement production.
Hg - coverage rate (%) 98% 96% 95%
Responsible use of fuels and raw materials 2020 2021 2022 HM14 - coverage rate (%) 98% 96% 95%
Specific heat consumption of clinker production (MJ/tonne of clinker) 3,398 3,584 3,615 HM25 - coverage rate (%) 98% 91% 95%
Dust - specific emissions (g/tonne of clinker) 44 38 38
Alternative fossil fuel rate (%) 11.6% 10.3% 11.6%
NOx - specific emissions (g/tonne of clinker) 1,483 1,394 1,416
Biomass fuel rate (%) 12.3% 12.1% 15.0%
SOx - specific emissions (g/tonne of clinker) 667 687 762
Alternative raw materials rate (%) 7.5% 6.6%* 6.9%
VOC/THC - specific emissions (g/tonne of clinker) 54 118 98
Clinker / cement ratio (%) 74.0% 74.9% 73.9%
PCDD/F - specific emissions (ng/tonne of clinker) 110* 18* 25
Scope: Cement operations in Brazil, VCNA, VCEAA, Bolivia and Uruguay.
* Restatements of information GRI 2-4: change in the measurement methodologies or in the definitions used. Hg - specific emissions (mg/tonne of clinker) 8 11 10
HM14 - specific emissions (mg/tonne of clinker) 14 19 30
Safety 1 2 2020 2021 2022 HM25 - specific emissions (mg/tonne of clinker) 688 475 1,281
Number of fatalities (directly employed) 1 0 0 Dust - absolute emissions (tonne/year) 1,041 1,122 1,083
Number of fatalities per 10.000 directly employed³ 0.87 0 0 NOx - absolute emissions (tonne/year) 35,385 41,150 40,525
Number of fatalities (indirectly employed) 1 0 0 SOx - absolute emissions (tonne/year) 15,918 20,282 21,805
Number of fatalities (third party) 0 0 0 VOC/THC - absolute emissions (tonne/year) 1,298 3,473 2,793
Number of days lost due to injuries (calendar days / directly employees) 1,522 1,602 2,639 PCDD/F - absolute emissions (mg/year) 2,866 541 703
Total Number of days lost due to injuries (calendar Hg - absolute emissions (kg/year) 200 311 296
days / directly + indirectly employees) 2,149 2,613 3,604 HM14 - absolute emissions (kg/year) 324 564 863
Lost time injuries per 1 million man-hours (directly employed) 1.11 1.34 0.94 HM25 - absolute emissions (kg/year) 16,407 14,022 36,663
Scope: Global.
Scope: VCBR, VCNA, VCEAA and Bolivia.
¹Includes only cement business.
¹Figures do not include Uruguay operations, except for number of fatalities.
²KP1: Monitoring of all pollutants mentioned in the emissions guidelines.
²Considers occurrences on-site cement, aggregates, mortar, logistic, aglime and concrete facilities.
³KP2: Monitoring of PM, NOx and SOx.
³Considers the GCCA methodology. Number of fatalities per 10000 people directly employed = (Number of fatalities in a year/number of directly employed) x 10000. 4
HM1: Cadmium and Thallium.
5
HM2: Antimony, Arsenic, Lead, Chromium, Cobalt, Copper, Manganese, Nickel, Vanadium.
*Restatements of information GRI 2-4: error made in previous reporting periods.
96
11 . ANNE X
Local impact on land and communities 2020 2021 2022

Sites with existing community engagement plans (%)¹ 33.4% 46.1% 62.6%
Sites with existing mine rehabilitation plans (%)¹ 93.7% 91.1% 100%
Mines with high biodiversity value in which biodiversity
management plans are actively implemented² 70.0%* 77.8%* 77.8%
¹ Scope: Global
² Scope: VCBR
*Restatements of information GRI 2-4: change in the measurement methodologies or in the definitions used
Specific water consumption 2020 2021 2022

Total water consumed (liters) per tonne of cement produced¹ 294* 310* 331³
Total water consumed (liters) per m³ of concrete produced² 612 533 326
¹Scope: Global. In VCBR operation we also consider the gypsum mine in Ponta da Serra. The data was obtained by measurement and estimates.
²Scope: VCBR and Uruguay. In 2022, it was made a study to determine reference values of water consumption in concrete sites based on primary data. The
data was obtained by measurement and estimates.
³Increase in water consumption in the North, Northeast and South regions of Brazil in 2022.
*Restatements of information GRI 2-4: change in the measurement methodologies or in the definitions used.
97
11 . ANNE X
GRI Content Index

–
Statement of use Votorantim Cimentos has reported in accordance with GRI Standards
for the period January 1, 2022 to December 31, 2022
GRI 1 used GRI 1: Foundation 2021
For the Content Index - Essentials Service, GRI Services reviewed that the GRI content index is clearly presented, in a manner consistent with the Standards,
and that the references for disclosures 2-1 to 2-5, 3-1 and 3-2 are aligned with the appropriate sections in the body of the report.
GRI Standard Disclosure Page Omission SDG

GRI 2: General 2-1 Organizational details 13, 14, 45, 124 - -
Disclosures 2021 2-2 Entities included in the organization’s sustainability reporting 120 - -
2-3 Reporting period, frequency and contact point 4 - -
2-4 Restatements of information 96, 97, 110, - -
111, 112, 113,
114, 115, 116,
117, 119
2-5 External assurance 4, 122 - -
2-6 Activities, value chain and other business relationships 13, 61 - -
2-7 Employees 50, 116 - -
2-8 Workers who are not employees - Information unavailable 8.5
2-9 Governance structure and composition 33, 34 - 5.5, 16.7
2-10 Nomination and selection of the highest governance body 34 - 5.5, 16.7
2-11 Chair of the highest governance body 34 - 16.6
2-12 Role of the highest governance body in overseeing the management of impacts 34, 41 - 16.7
2-13 Delegation of responsibility for managing impacts 34 - -
2-14 Role of the highest governance body in sustainability reporting 34 - -
2-15 Conflicts of interest 37 - 16.6
2-16 Communication of critical concerns 41 Information unavailable -
2-17 Collective knowledge of the highest governance body 33 - -
2-18 Evaluation of the performance of the highest governance body 34 - -
2-19 Remuneration policies - Confidentiality constraints -
2-20 Process to determine remuneration - Confidentiality constraints -
2-21 Annual total compensation ratio - Confidentiality constraints -
98
11 . ANNE X

GRI 2: General 2-22 Statement on sustainable development strategy 8, 10 - -
Disclosures 2021 2-23 Policy commitments 37 - 16.3
2-24 Embedding policy commitments 37 - -
2-25 Processes to remediate negative impacts - Information unavailable -
2-26 Mechanisms for seeking advice and raising concerns 40 - 16.3
2-27 Compliance with laws and regulations 107 - 16.3
2-28 Membership associations 120 - -
2-29 Approach to stakeholder engagement 5, 7, 104 - -
2-30 Collective bargaining agreements 116 - 8.8
GRI 3: Material Topics 2021 3-1 Process to determine material topics 5 - -
3-2 List of material topics 5, 6 - -
MATERIAL TOPICS
Economic performance (Climate Change)
GRI 3: Material Topics 2021 3-3 Management of material topics 6,26, 91 - -
GRI 201: Economic 201-2 Financial implications and other risks and opportunities due to climate change 42 - 13.1
Performance 2016
Anti-corruption (Ethics, integrity and transparency)
GRI 3: Material Topics 2021 3-3 Management of material topics 6, 36, 37, 91 - -
GRI 205: Anti-corruption 2016 205-1 Operations assessed for risks related to corruption 105 - 16.5
205-2 Communication and training about anti-corruption policies and procedures 106 - 16.5
205-3 Confirmed incidents of corruption and actions taken 106 - 16.5
Anti-competitive behavior (Ethics, integrity and transparency)
GRI 206: Anti-competitive 206-1 Legal actions for anti-competitive behavior, anti-trust, and monopoly practices 107 - 16.3
behavior 2016
Materials (Responsible use of materials, waste and circular economy)
GRI 3: Material Topics 2021 3-3 Management of material topics 6, 71, 91 - -
GRI 301: Materials 2016 301-1 Materials used by weight or volume 110 - 8.4, 12.2
Energy (Climate change | Responsible use of materials, waste and circular economy)
GRI 302: Energy 2016 302-1 Energy consumption within the organization 109 - 7.2, 7.3, 8.4, 12.2, 13.1
302-2 Energy consumption outside of the organization 109 - 7.2, 7.3, 8.4, 12.2, 13.1
302-3 Energy intensity 109 - 7.3, 8.4, 12.2, 13.1
99
11 . ANNE X

Emissions(Climate change | Air emissions | Responsible use of materials, waste and circular economy)
GRI 305: Emissions 2016 305-1 Direct (Scope 1) GHG emissions 113 - 3.9, 12.4, 13.1,14.3, 15.2
305-2 Energy indirect (Scope 2) GHG emissions 113 - 3.9, 12.4, 13.1,14.3, 15.2
305-3 Other indirect (Scope 3) GHG emissions 113 - 3.9, 12.4, 13.1,14.3, 15.2
305-4 GHG emissions intensity 113 - 3.9, 12.4, 13.1,14.3, 15.2
305-5 Reduction of GHG emissions 113 - 13.1, 14.3, 15.2
305-7 Nitrogen oxides (NOx), sulfur oxides (SOx), and other significant air emissions 79, 114 - 3.9, 12.4,14.3, 15.2
Waste(Responsible use of materials, waste and circular economy)
GRI 306: Waste 2020 306-1 Waste generation and significant waste-related impacts 71 - 3.9, 6.3, 6.6, 11.6, 12.4, 12.5
306-2 Management of significant waste-related impacts 114 - 3.9, 6.3, 8.4, 11.6, 12.4, 12.5
306-3 Waste generated 114 - 3.9, 6.6, 11.6, 12.4, 12.5, 15.1
306-4 Waste diverted from disposal 115 - 3.9, 11.6, 12.4, 12.5
306-5 Waste directed to disposal 115 3.9, 11.6, 12.4, 12.5
Occupational health and safety (Safety, health and well-being)
GRI 403: Occupational 403-1 Occupational health and safety management system 51 - 8.8
health and safety2018 403-2 Hazard identification, risk assessment, and incident investigation 51, 52 - 8.8
403-3 Occupational health services 51 - 8.8
403-4 Worker participation, consultation, and communication on occupational health and safety 51, 52 - 8.8, 16.7
403-5 Worker training on occupational health and safety 51, 52 - 8.8
403-6 Promotion of worker health 51 - 3.3, 3.5, 3.7, 3.8
403-7 Prevention and mitigation of occupational health and safety 51 - 8.8
impacts directly linked by business relationships
403-9 Work-related injuries 117 - 3.6, 3.9, 8.8, 16.1
Diversity and equal opportunity (Diversity and inclusion)
GRI 405: Diversity and 405-1 Diversity of governance bodies and employees 118, 119 - 5.1, 5.5, 8.5
equal opportunity 2016
Non-discrimination (Diversity and inclusion)
GRI 406: Non- 406-1 Incidents of discrimination and corrective actions taken 107 - 5.1, 5.5, 8.5
discrimination 2016
100
11 . ANNE X

Public policy(Ethics, integrity and transparency)
GRI 415: Public policy2016 415-1 Political contributions 104 - 16.5
NON MATERIAL TOPICS
GRI 201: Economic 201-1 Direct economic value generated and distributed 103 - 8.1, 8,2, 9.1, 9.4, 9.5
performance 2016
GRI 202: Market presence 2016 202-2 Proportion of senior management hired from the local community 104 - 8.5
GRI 204: Procurement 204-1 Proportion of spending on local suppliers 103 - 8.3
practices 2016
GRI 303: Water and 303-3 Water withdrawal 110 - 6.4
effluents 2018 303-4 Water discharge 111 - 6.3
303-5 Water consumption 111 - 6.4
GRI 304: Biodiversity 2016 304-1 Operational sites owned, leased, managed in, or adjacent to, protected 111 - 6.6, 14.2, 15.1, 15.5
areas and areas of high biodiversity value outside protected areas
304-3 Habitats protected or restored 112 - 6.6, 14.2, 15.1, 15.5
304-4 IUCN Red List species and national conservation list species with habitats in areas affected by operations 112 - 6.6, 14.2, 15.1, 15.5
GRI 308: Supplier 308-1 New suppliers that were screened using environmental criteria 104 - -
environmental 308-2 Negative environmental impacts in the supply chain and actions taken 104 - -
assessment 2016
GRI 401: Employment 2016 401-1 New employee hires and employee turnover 116, 117 - 5.1, 8.5, 8.6, 10.3
GRI 404: Training and 404-1 Average hours of training per year per employee 119 - 4.3, 4.4, 4.5, 5.1, 8.2, 8.5, 10.3
education 2016 404-2 Programs for upgrading employee skills and transition assistance programs 58 - -
GRI 408: Child labor 2016 408-1 Operations and suppliers at significant risk for incidents of child labor 108 - 5.2, 8.7, 16.2
GRI 409: Forced or 409-1 Operations and suppliers at significant risk for incidents of forced or compulsory labor 108 - 5.2, 8.7
compulsory labor 2016
GRI 411: Rights of 411-1 Incidents of violations involving rights of indigenous peoples 108 - 2.3
indigenous peoples 2016
GRI 413: Local 413-1 Operations with local community engagement, impact assessments, and development programs 85, 119 - -
Communities 2016
GRI 414: Supplier Social 414-1 New suppliers that were screened using social criteria 104 - 5.2, 8.8, 16.1
Assessment 2016 414-2 Negative social impacts in the supply chain and actions taken 104 - 5.2, 8.8, 16.1
101
11 . ANNE X
SASB Content Index

–
Topic Accounting Metric Category Unit of Measure Code Page
Greenhouse Gas Gross global Scope 1 emissions, percentage covered under emissions-limiting regulations Quantitative Metric tons (t) CO2-e, EM-CM-110a.1 113
Emissions Percentage (%)
Discussion of long-term and short-term strategy or plan to manage Scope 1 emissions, Qualitative Not applicable EM-CM-110a.2 6, 28
emissions reduction targets, and an analysis of performance against those targets
Air Quality Air emissions of the following pollutants: (1) NOx (excluding N2O) (2) SOx (3) Quantitative Metric tons (t) EM-CM-120a.1 79, 114
particulate matter (PM10), (4) dioxins/furans (5) volatile organic compounds
(VOCs) (6) polycyclicaromatic hydrocarbons (PAHs) (7) heavy metals
Energy Management 1) Total energy consumed (2) percentage grid electricity (3) percentage alternative (4) percentage renewable Quantitative Gigajoules (GJ), Percentage (%) EM-CM-130a.1 109
Water Management (1) Total fresh water withdrawn (2) percentage recycled (3) percentage in Quantitative Thousand cubic meters EM-CM-140a.1 110
regions with High or Extremely High Baseline Water Stress (m³), Percentage (%)
Waste Management Amount of waste generated, percentage hazardous, percentage recycled Quantitative Metric tons (t), Percentage (%) EM-CM-150a.1 114
Biodiversity Impacts Description of environmental management policies and practices for active sites Qualitative Not applicable EM-CM-160a.1 80
Terrestrial acreage disturbed, percentage of impacted area restored Quantitative Acres (ac), Percentage (%) EM-CM-160a.2 Not reported
Workforce Health 1) Total recordable incident rate (TRIR) (2) near miss frequency rate (NMFR) Quantitative Rate EM-CM-320a.1 117
& Safety for (a) fulltime employees and (b) contract employees
Number of reported cases of silicosis2 Quantitative Number EM-CM-320a.2 117
Product Innovation Percentage of products that qualify for credits in sustainable building design and construction certifcation Quantitative Percentage (%) by annual EM-CM-410a.1 Not reported
sales revenue
Total addressable market and share of market for products that reduce energy, Quantitative Reporting currency, EM-CM-410a.2 103
water, and/or material impacts during usage and/or production Percentage (%)
Pricing Integrity Total amount of monetary losses as a result of legal proceedings associated Quantitative Reporting currency EM-CM-520a.1 107
& Transparency with cartel activities price fixing and anti-trust activities3
Activity Metric Accounting Metric Category Unit of Measure Code Page
Production by major Not applicable Quantitative Metric tons (t) EM-CM-000.A 103
product line4
102
11 . ANNE X
Annex GRI and SASB

–
Economic Performance
Direct economic value generated and distributed GRI 201-1 Financial revenue through sustainable solutions VC 2030 | SASB EM-CM-410a.2
2020 2021 2022 2021 2022
Economic value generated (R$thousands) 19,600,528 25,914,457 30,109,824 Financial revenue through sustainable solutions ¹ (%) 24.8% 31.4%
Scope: VCBR, VCNA, VCEAA
Net revenue 16,740,228 22,295,681 25,797,366
¹ Products and/or services that mitigate our environmental footprint or offer environmental benefits compared to traditional options.
Cement 11,542,316 15,584,206 18,834,971
Concrete 3,561,241 4,771,898 4,635,936
Aggregates 545,417 670,253 819,675
Suppliers GRI 204-1 | VC 2030
Mortar 604,661 731,441 780,465 2020 2021¹ 2022²
Others 486,593 537,883 726,319 Total amount spent with suppliers (R$billion) 3.2 8.4 13.4
Economic value distributed (R$thousands) 8,941,224 11,630,113 12,388,278 Total amount spent with local suppliers (R$billion) 1.2 4.7 7.2
Employee remuneration¹ 2,900,373 3,430,794 3,381,112 Spent with local suppliers³ at significant
Taxes and fees² 3,431,588 4,154,439 4,726,195 operating locations (%) |GRI 204| |VC 2030| 37.8% 56.3% 54.0%
Third-party capital remuneration³ 2,136,807 2,418,168 3,135,517 Scope: VCBR, VCNA, VCEAA.
¹ Change in scope: in 2020, the scope of the indicator was VCBR. As of 2021, the scope of the indicator was expanded to include VCBR, VCNA and
Economic value retained4 10,659,304 14,284,344 17,721,546 VCEAA.
Scope: Global. ²In 2022, the scope of the total amount spent with suppliers was expanded to include all the spent categories.
¹Direct remuneration, retirement plan and pension plan, social charges and benefits. ³Local suppliers: Due to the territorial extension of the countries where we operate, specific criteria were adopted for each of the regions. VCBR: local
² Federal, State, Municipal and Deferred taxes and contributions. suppliers are those located within a 200km radius from the operating site; VCEAA: local suppliers are those located in the same country of the operating
³ Financial expenses and passive exchange variations and rents. site; VCNA: suppliers within the United States or the province (Canada) where the plant is located.
4
Non-controlling interest, profit (loss) retained and profit (loss) from discontinued operations.
Production by major product line SASB EM-CM-000.A

2020 2021 2022
Sales of cement (million metric tonnes) 32.4 37.2 36.8
Sales of aggregates (million metric tonnes) 22.7 24.4 23.7
Sales of concrete (million m³) 7.1 8.1 8.4
Scope: Global.
103
11 . ANNE X
Contracting of suppliers GRI 308-1, 308-2, 414-1, 414-2

2020 2021 2022
Total number of new suppliers 836 1,262 1,719³
Total number of new suppliers selected according to environmental criteria GRI 308-1¹ 836 137 50
New suppliers selected according to environmental criteria (%) GRI 308-1¹ 100% 10.9% 2.9%
Number of suppliers identified as causing negative environmental impact and actions taken GRI 308-2² Not monitored 7 0
Total number of new suppliers selected according to social criteria GRI 414-1¹ 836 806 1,213
New suppliers selected according to social criteria (%) GRI 414-1¹ 100% 63.9% 70.6%
Number of suppliers identified as causing negative social impact and actions taken GRI 414-2² Not monitored 0 0
Scope: VCBR.
¹ Change in the indicator’s accounting method starting in 2021: number of suppliers approved in the registration process for categories that consider environmental and social criteria and number of suppliers that were re-approved for the first time and received a purchase order in the current year.
100% of suppliers go through an approval process via the SIPM Ariba platform. As part of this process, suppliers that fall into environmental and social categories must meet certain procurement criteria. VSA performs the analysis and rejects the approval of suppliers that do not meet the pre-
defined criteria.The assessment included the suppliers of alternative fuels and inputs (Verdera), according to the criteria for prioritization established by Supply Chain.
² In 2021, risk mapping was carried out for each procurement category. Action plans were created for suppliers with greater risk potential, which are periodically monitored by the Risk and Sustainability Committe.
³In 2022, the figures was impacted by the rehomologation process ongoing.
Local hires GRI 202-2 Government relations GRI 415-1

Senior management hired from the local community (%)¹ 2020 2021 2022 2020 2021 2022
VCBR 81.3% 81.6% 91.7% Political contributions 0 0 0
VCEAA 56.3% 60.0% 50.0% Scope: VCBR, VCNA, VCEAA.
VCNA 95.8% 87.5% 90.0%

VCLATAM 47.0% 46.7% 47.1%
Consumer relations GRI 2-29
Employees from the local community (%)² 2020 2021 2022
Net Promoter Score (NPS) survey results 2020 2021 2022
VCBR 82.4% 89.6% 90.0%
VCBR 61 71 67
VCEAA 98.4% 98.4% 95.6%
VCEAA - 36 55
VCNA 99.8% 99.2% 99.7% Scope: VCBR, VCEAA.
VCLATAM 75.9% 75.6% 75.8% The indicator can range from -100 to 100.
Scope: Global.
¹ Includes senior managers, general managers, directors and CEO.
² Employees born or naturalized in the country of operation are considered to be local hires at VCNA, VCEAA and in Uruguay. At VCBR and in Bolivia, due
to specific local characteristics, we adopt regional criteria.
104
11 . ANNE X
Operations assessed for risks related to corruption GRI 205-1

2020 2021 2022
Operations assessed (%) 25% 50% 50%

Significant corruption- For VCBR, the Compliance area performed Even though our core business is not related to commercial Although our core activities are not related to commercial transactions with
related risks identified a pilot Anti-Corruption Risk Assessment transactions with governments, at Votorantim Cimentos, governments, interactions with the public sector are part of Votorantim
through this assessment including two specific areas and exposures like any other legal entity, interactions with the public sector Cimentos’ regular business, like with any other legal entity. Therefore, in
in relationships with the Government. are part of the company’s inherent activities. Therefore, in addition to compliance assessments incorporated into the company’s daily
addition to the compliance evaluations processes (for example, integrity assessments of partners in M&A transactions
For the other regions, the Compliance
incorporated into the company’s daily processes (for or critical third parties, as well as risk assessments for new business models),
area maintained the continuous self
example, integrity assessments of M&A partners Votorantim Cimentos annually performs a specific anti-corruption risk
assessment of its Compliance Program
and critical third parties, as well as risk assessments assessment within its businesses. In 2022, assessments were carried out at
at a global level, including the Anti-
for new business models), at VCBR and VCEAA we VCBR and VCNA. At VCBR, a risk heatmap was created for the sites considering
Corruption pillar. The self-assessment
carried out specific anti-corruption assessments. three aspects (i) employee profile (for example, profile of users of the Ethics
of several areas of the company aims to
Line; compensation and performance information that can inform the
provide insight into the maturity level of At VCBR, we mapped all the interactions with the public
development of initiatives; existence of conflicts of interest; participation
the pillars of the Compliance Program sector, which enabled us to qualify them, assess our level
in Compliance training; profile of potential fraudsters; etc.); (ii) site profile
of Votorantim Cimentos through an of control over them, identify the parties involved and train
(for example, level of interaction with public authorities; environmental
integrated and consolidated perspective, them on anti-corruption issues. This mapping confirmed an
risks; performance and level of local participation; etc.); and (iii) third-party
while also guiding the strategy and original perception regarding the absence of significant risks
profile (for example, the site's procurement autonomy; contracting critical
priority actions to strengthen and related to corruption and served as a resource to
services; dependence on suppliers; supplier integrity profile; etc.). At VCNA,
improve compliance in the coming years inform integrity processes.
the company created a complete map of interactions with the public sector
At VCEAA, because of the diverse legal framework in the for two specific areas with high exposure associated with relationships with
region, we carried out an anti-corruption risk assessment governments. This work enabled the identification of these interactions and
that focused on mapping the assessment of the level of control over them, and provided feedback
and evaluating each country’s legislation; we on cross-cutting anti-corruption processes, such as better identifying and
also did a self-assessment of our Compliance training the parties responsible for anti-corruption issues, and supporting
Program, including the Anti-Corruption pillar. a study to reassess third-party risk categories, among others. The mapping
In the other regions, the Compliance area continued exercise confirmed the previous perception of an absence of significant
to work on priority issues/gaps identified in previous risks related to corruption. For the other regions, the Compliance area
self-assessments, including anti-corruption continued to work on priority topics/gaps raised in previous self-assessments,
training and the background check process. such as anti-corruption training and the background check process.
Scope: Global.
105
11 . ANNE X
Anti-corruption communication and training GRI 205-2

2020 2021¹ 2022
Number of Communicated Number of Communicated Number of Communicated
Employees employees Number Percentage employees Number Percentage employees Number Percentage
President/Director 17 17 100% 38 38 100% 35 35 100%
Manager/General Manager 321 321 100% 366 366 100% 329 329 100%
Coordinator/Consultant 481 481 100% 618 618 100% 719 719 100%
Technician/Analyst/Supervisor 2,421 2,421 100% 2,909 2,809 97% 3,129 3,093 99%
Operator 6,173 5,293 86% 8,131 7,295 90% 7,916 7,866 99%
Total number of employees 9,413 8,533 91% 12,062 11,126 92% 12,128 12,042 99%
Board of Directors 11 0 0% 13 13 100% 13 13 100%
Business partners - 9,480 ~50% – 21,402 ~70% – 10,532 ~70%
2020 2021 2022

Number of Trained Number of Trained Number of Communicated
Employees employees Number Percentage employees Number Percentage employees Number Percentage
President/Director 17 1 6% 38 17 45% 35 25 71%
Manager/General Manager 321 103 32% 366 104 28% 329 279 85%
Coordinator/Consultant 481 145 30% 618 213 34% 719 562 78%
Technician/Analyst/Supervisor 2,421 645 27% 2,909 878 30% 3,129 2,240 72%
Operator 6,173 832 13% 8,131 1,109 14% 7,916 3,258 41%
Total number of employees 9,413 1,726 18% 12,062 2,321 19% 12,128 6,364 52%
Board of Directors 11 0 0% 13 0 0% 13 0 0%
Scope: VCBR, VCNA, VCEAA.
The indicator does not include intern and apprentices.
¹ Change in scope: in 2020, the scope of the indicator was VCBR and VCEAA. As of 2021, the scope of the indicator was expanded to include VCBR, VCNA and VCEAA.
Anti-corruption GRI 205-3

2020 2021¹ 2022
Number of cases of corruption confirmed by the Business Ethics Line 0 0 0
Scope: Global.
¹ Change in scope: in 2020, the scope of the indicator was VCBR, VCEAA and VCNA. As of 2021, the scope was expanded to global.
106
11 . ANNE X
Competition GRI 206-1 | SASB EM-CM-520a.1 Discrimination GRI 406-1

2020 2021 2022 Total number of incidents of discrimination received by
Total number of legal actions for unfair the business ethics office and corrective actions taken 2020 2021¹ 2022
competition, trust and monopoly Practices ¹ 2 4 3 Race/color 5 1 1
Value of legal actions (R$million) 6,344 7,754 8,345 Age group 0 0 2
Scope: Global. Gender 0 0 4
¹Considers only legal actions above R$98 million, in line with the standards applied for M&A and Due Diligence.
Religion 0 1 0
Political opinion 1 0 0
Compliance with laws and regulations³ GRI 2-27 Nationality or nacionality 4 0 2
2020 2021 2022 Social origin 0 0 0
Total number of significat monetary Physical conditions 0 0 3
fines received in the year¹ 1 2 0 Harassment and abuse of power 0 0 0
Total monetary value of significant fines Other incidents (discrimination) 0 4 4
received in the year (R$million) 1.2 2.8 0 Total number of incidents analyzed 10 6 16
Total number of non-monetary sanctions² 1 0 1 Analyzed and considered unfounded 6 1 6
Number of cases (fines + sactions) brought Analyzed and considered well-founded 1 3 4
through dispute resolution mechanism 1 3 1 Analyzed and considered inconclusive 2 1 1
Scope: Global.
¹ Significant monetary fines: value above R$1 million. Under analysis 0 1 3
² Non-monetary sanctions that cause interruptions or adjustments over R$5 million.
³ In 2020 and 2021, the scope of the standard included data from GRI 307-1 and GRI 419-1. With the new GRI 2021 Standard, the contents 307-1
Without sufficient information for investigation 1 0 2
and 419-1 are grouped as GRI 2-27. Scope: Global.
¹ Change in scope: in 2019 and 2020, the scope of the indicator was VCBR, VCEAA and VCNA. As of 2021, the scope of the indicator was expanded to
global.
107
11 . ANNE X
Child, forced or compulsory labor GRI 408-1, 409-1

2022
Operations and suppliers at significant risk for incidents of child labor |GRI 408-1| Compulsory and child labor are issues included in the Votorantim Cimentos Code of Conduct, which addresses our commitment to
the United Nations Universal Declaration of Human Rights and the UN Global Compact and has among its principles to eliminate all
forms of forced or compulsory labor and eradicate all forms of child labor from our production chain. These practices are prohibited
Operations and suppliers at significant risk for incidents
in all company and commercial partners’ facilities. It is also prohibited to hire any organization that does not follow our company’s
of forced or compulsory labor |409-1|
conduct guidelines. This issue is also addressed in the event of complaints to our Business Ethics Office, which is prepared to carry
out investigations and verify the materiality of the complaint. All the suppliers contracted must be submitted to the registration
process. The Office of Labor (within the Ministry of Economy) Restricted List is cross-checked with our SAP list of suppliers. If there is
evidence of misconduct, the supplier is demobilized and blocked to prevent future hiring. The Votorantim Cimentos General Conditions
Term states that all suppliers must follow our Code of Conduct (ethics, values and compliance with labor legislation). Through the
new SIPM tool, suppliers must accept our General Conditions Term; otherwise they are rejected in the certification process. They
must also fill out a Compliance Survey, in which they need to address several topics, including child labor. If the survey answers are
unsatisfactory, the supplier is submitted for analysis by the Compliance area and may be rejected in the certification process.
Scope: Global.
Indigenous rights GRI 411-1

2020 2021¹ 2022
Incidents of violations involving rights of indigenous peoples 0 0 0
Scope: Global.
¹ Change in scope: in 2020, the scope of the indicator was VCBR, VCEAA and VCNA. As of 2021, the scope of the indicator was expanded to global.
108
11 . ANNE X
Environmental Performance
Energy consumption inside the organization GRI 302-1||SASB EM-CM-130a.1 Energy Management SASB EM-CM-130a.1
Non-renewable sources (GJ) 2020 2021 2022 2020 2021 2022
Cement 75,249,280 95,601,831 87,786,327 Grid electricity (%) 81.8% 84.3% 82.1%
Aggregates 77,412 71,983 62,680 Renewable Energy (fuel + electricity) (%) 14.3% 13.6% 16.3%
Concrete 220,288 254,853 273,810 Alternative fuels (%) 23.8% 22.4% 26.5%
Mortar 11,785 15,206 15,217 Renewable Energy (electricity) (%) - 18.5% 22.9%
Limes and agricultural inputs 24,900 24,328 24,967 Scope: all VCBR operations and VCEAA, VCNA and VCLATAM cement operations.
Total 75,583,666 95,968,201 88,163,001

Renewable sources (GJ) 2020 2021 2022
Cement 10,244,265 12,857,184 15,049,833
Energy consumption outside the organization GRI 302-2
Transport and distribution (GJ) 2020 2021 2022
Aggregates 11,049 9,079 7,224
VCBR 3,862,299 4,322,852 4,271,695
Concrete 36,073 35,518 36,975
Scope: VCBR.
Mortar 15,090 33,999 51,083
Limes and agricultural inputs 1,695,075 1,759,473 1,802,608
Total 12,001,552 14,695,253 16,947,722 Energy intensity GRI 302-3
Electricity (MWh) 2020 2021 2022 Fuels 2020 2021 2022
Cement 3,707,824 4,242,316 4,087,920 Clinker (MJ/tonne of clinker) 3,398 3,584 3,615
Aggregates 4,368 8,943 8,112 Aggregates (MJ/tonne of product) 27.7 26.4 24.9
Concrete 3,086 3,394 3,720 Concrete (MJ/m³ of product) 141 144 147
Mortar 7,601 8,544 8,447 Mortar (MJ/tonne of product) 38.9 62.4 85.8
Limes and agricultural inputs 50,094 50,096 50,083 Lime and agricultural inputs (MJ/tonne of product) 819 816 931
Total 3,772,973 4,313,292 4,158,283
Electricity ¹ 2020 2021 2022
Total consumption (GJ) 2020 2021 2022
Cement (kWh/tonne of cement) 109 109 109
Cement 98,841,710 123,731,351 117,552,672
Aggregates (kWh/tonne of product) 1.4 2.9 2.9
Aggregates 104,187 113,256 99,107
Concrete (kWh/m³ of product) 1.7 1.7 1.8
Concrete 267,470 302,590 324,178
Mortar (kWh/tonne of product) 11.0 10.8 10.9
Mortar 54,238 79,963 96,709
Lime and agricultural inputs (kWh/tonne of product) 23.8 22.9 25.5
Limes and agricultural inputs 1,900,314 1,964,147 2,007,876 Scope: all VCBR operations and VCEAA, VCNA and VCLATAM cement operations.
Total 101,167,919 126,191,306 120,080,542 The cement business has the highest energy consumption (98%).
Scope: all VCBR operations and VCEAA, VCNA and VCLATAM cement operations.
109
11 . ANNE X
Environmental investments Material used GRI 301-1

Total Environmental Capex and Opex (million R$) 2020 2021 2022 2020 2021 2022
Environmental investments (Capex) 39.6 108.8 154.2 Total raw material (tonne) 54,048,612 61,810,222* 58,595,488
Environmental expenses (Opex) 69.8 86.3 93.6 Scope: VCBR, VCNA and VCEAA cement operations.
Materials include raw materials used in the clinker and cement production.
Scope: Global. *Restatements of information GRI 2-4: change in the measurement methodologies or in the definitions used.
Water withdrawn by source GRI 303-3 | SASB EM-CM-140a.1

2020 2021 2022
Water withdrawn - Cement (megaliter)¹ All areas Areas with water stress All areas Areas with water stress All areas Areas with water stress
Surface water 13,110 5,978 13,107 6,080 14,178 6,279
Groundwater 1,054 177 2,818 221 2,663 281
Rainwater 14.4 0.9 43.4 0.2 20.1 0.0
Produced water 39,663 16,806 41,496 14,954 42,684 16,624
Third-party water 363 138 258 196 287 197
Other sources 0.1 0.0 0.0 0.0 26.2 26.2
Total 54,205 23,099 57,723 21,451 59,858 23,407
2020 2021 2022
Water withdrawn - Concrete (megaliter)² All areas Areas with water stress All areas Areas with water stress All areas Areas with water stress
Surface water 0.0 0.0 8.8 0.0 0.0 0.0
Groundwater 1002 0.0 1,042 0.0 684 0.0
Rainwater 0.0 0.0 0.0 0.0 0.0 0.0
Produced water 0.0 0.0 0.0 0.0 0.0 0.0
Third-party water 155 0.0 164 0.0 57.1 0.0
Other sources 0.0 0.0 0.0 0.0 0.0 0.0
Total 1,157 0.0 1,214 0.0 741 0.0
¹ Scope: Global. In VCBR operation we also consider the gypsum mine in Ponta da Serra. The data was obtained by measurement and estimates.
² Scope: VCBR and Uruguay. In 2022, it was made a study to determine reference values of water consumption in concrete sites based on primary data. The data was obtained by measurement. and estimates.
110
11 . ANNE X
Water discharge by source GRI 303-4

2020 2021 2022
Water discharge - Cement (megaliter) All areas Areas with water stress All areas Areas with water stress All areas Areas with water stress
Surface water 44,429 17,997 45,828 15,729 47,389 16,632
Groundwater 164 12.8 119 2.3 276 1.6
Sea water 0.0 0.0 0.0 0.0 0.0 0.0
Water sent to third-party supplier 40.1 11.3 29.8 13.9 48.2 7.1
Total 44,632 18,021 45,977 15,745 47,713 16,641
Scope: Global. In VCBR operation we also consider the gypsum mine in Ponta da Serra. The data was obtained by measurement and estimates.
Water consumption GRI 303-5

2020 2021 2022
Water consumption - cement (megaliter) All areas Areas with water stress All areas Areas with water stress All areas Areas with water stress
Total water withdrawn |GRI 303-3| 54,205 23,099 57,723 21,451 59,858 23,407
Total water discharged |GRI 303-4| 44,632 18,021 45,977 15,745 47,713 16,641
Total water consumed |GRI 303-5| 9,573 5,078 11,746 5,706 12,145 6,766
Scope: Global. In VCBR operation we also consider the gypsum mine in Ponta da Serra. The data was obtained by measurement and estimates.
Biodiversity and resource conservation GRI 304-1 | GRI G4 MM2, MM10

2020 2021 2022
Total number of mines¹ 127 135 134
Mines with closure plans (%) GRI G4 MM10 93.7% 91.1% 100%
Total number of high biodiversity value units² GRI 304-1 10* 9* 9
Number of high biodiversity value areas with existing biodiversity management plans² GRI G4 MM2 7* 7* 7
Units with high biodiversity value with existing biodiversity management plans (%)² GRI G4 MM2 70.0%* 77.8%* 77.8%
¹Scope: Global.
²Scope: VCBR. According to the “Votorantim Cimentos Biodiversity Management Plan Manual“, the identification of areas of high biodiversity value considers three factors: (i) The importance of the area of high biodiversity relevance overlapping with the mining area; (ii) The percentage of overlap between the area of high
biodiversity relevance and the mining area (considering a 5-km radius from the center of the mine); (iii) The distance of the area of high biodiversity relevance to the mining center. We apply the methodology and rank all areas that are close to or overlap with areas of high biodiversity value, according to these criteria.
111
11 . ANNE X
Biodiversity GRI 304-3 Biodiversity GRI 304-4

Habitats protected or Total number of species in the IUCN Red List and with
restored (in km²) 2020 2021¹ 2022 habitats in areas affected by operations 2020 2021¹ 2022
Amazônia 33.7 22.0 37.2 Critically endangered 1 0 0
Type of area LR, PPA LR, PPA LR, PPA Endangered 26 0 2
Status of the area Preserved Preserved Preserved Vulnerable 39 7 6
Caatinga 5.8 7.5 7.5 Near Threatened 28 12 10
Type of area LR, PPA LR, PPA LR, PPA Least concern² N/A N/A N/A
Status of the area Preserved Preserved Preserved Total number of species in the National Conservation
Cerrado 25.5 28.1* 28.9 List and with habitats in areas affected by operations 2020 2021¹ 2022
Type of area LR, PPA, PRNH, WRA LR, PPA, PRNH, WRA LR, PPA, PRNH, WRA Critically endangered 0 0 0
Status of the area Preserved Preserved Preserved Endangered 2 1 1
Mata Atlântica 87.7 45.4 47.0 Vulnerable 17 10 8
Type of area LR, PPA LR, PPA, PRNH LR, PPA Near Threatened 13 2 3
Status of the area Preserved Preserved Preserved Least concern² N/A N/A N/A
Scope: VCBR.
Pantanal 1.7 1.7 1.7
¹ Change in the indicator’s accounting method: in previous years, the indicator considered the accumulated wealth, which explains the high number of
Type of area LR, PPA LR, PPA LR, PPA species in all categories. As of 2021, the indicator considers only the species sampled in the year.
² Information not available due to a focus on identifying species of greatest concern for conservation.
Status of the area Preserved Preserved Preserved
Pampa 4.2 2.4 2.4
Type of area LR, PPA LR, PPA LR, PPA
Status of the area Preserved Preserved Preserved
Scope: VCBR.
Brazilian classification of areas: Legal Reserve (LR), Permanent Protection Area (PPA), Private Reserve of Natural Heritage (PRNH), Wildlife Refuge Area (WRA).
¹Change in the indicator’s accounting methodology from 2021.
112
11 . ANNE X
Direct CO2 emissions GRI 305-1, 305-4 | SASB EM-CM-110a.1 | GCCA Indirect CO2 emissions GRI 305-2, 305-3
Cement 2020 2021¹ 2022 Indirect CO2 emissions - Escopo 2 (tCO2) 2020 2021¹ 2022
Gross absolute CO2 emission (tCO2) 20,421,293 24,877,550 23,213,320 Cement 532,913 771,610 631,297
Net absolute CO2 emission (tCO2) 19,630,033 23,999,550 22,267,306 Concrete 190 429 158
Gross specific CO2 emission (kg CO2/t cementitious product) 599 619 604 Aggregates 270 1,130 346
Net specific CO2 emission (kg CO2/t cementitious product) 576 597 579 Mortar 469 574 360
Aggregates 2020 2021 2022 Lime and agricultural inputs 3,092 6,333 2,133
Absolute CO2 emission (tCO2e) 5,199 5,168 4,786 Total - Scope 2 536,934 780,076 634,294
Specific CO2 emission (kgCO2e/t aggregates) 1.6 1.7 1.7 Other indirect emissions - Scope 3 (tCO2e)² 2020 2021 2022
Concrete 2020 2021 2022 Total - Scope 3 249,061 4,581,726* 4,192,705
Absolute CO2 emission (tCO2e) 20,455 19,007 20,387 Biogenic emissions (tCO2) 30,661 30,297 28,685
Specific CO2 emission (kgCO2e/t concrete) 11.2 9.4 9.7 Scope: Cement operations in Brazil, VCNA, VCEAA, Bolivia and Uruguay and other business in Brazil. The emissions from cement operation were
calculated considering the guidelines of the Cement CO2 and Energy Protocol from GCCA. Emissions
Mortar 2020 2021 2022 from other businesses were calculated considering the guidelines of the Brazilian GHG Protocol Program. The gases included in the calculation for scope
2 e 3 were: CO2, CH4, N2O.
Absolute CO2 emission (tCO2e) 1,674 1,563 1,573 ¹Increased due to the acquisition of two new cement operations (McInnis and Balboa) and the change in emission factor in Brazil.
²Until 2020, the scope 3 considered only transportation and distribution. In 2021, we refined our Scope 3 inventory including the emissions from
Specific CO2 emission (kgCO2e/t mortar) 2.4 2.0 2.0
category 1 (purchased goods and services), category 3 (fuel and energy related activities, not included in scope 1 and 2), category 4 (upstream
Lime and agricultural inputs 2020 2021 2022 transportation and distribution), category 9 (downstream transportation and distribution) and category 15 (investments) which are the most relevant
categories according to the screening made during the SBTi process.
Absolute CO2 emission (tCO2e) 184,422 194,582 196,644 *Restatements of information GRI 2-4: change in the measurement methodologies or in the definitions used.
Specific CO2 emission (kgCO2e/t lime and agricultural inputs) 87.8 89.1 100
Total - Scope 1 (tonne of CO2e) 20,633,043 25,097,870 23,436,711
Biogenic emissions - Scope 1 (tCO2e) 1,322,731 1,524,961 1,777,255 Reduction of GHG emissions GRI 305-5
Scope: Cement operations in Brazil, VCNA, VCEAA, Bolivia and Uruguay and other business in Brazil. The emissions from cement operation were calculated Base year/
considering the guidelines of the Cement CO2 and Energy Protocol from GCCA. Emissions from other businesses were calculated considering the guidelines 2020 2021 2022 denominator
of the Brazilian GHG Protocol Program. The gases included in the calculation for scope 1 were: CO2, CH4, N2O.
¹ Increase due to a change in scope and the acquisition of two new cement operations (McInnis and Balboa), which were still at a lower level of thermal CO2 reduction as a direct
substitution and clinker factor, in addition to reduced thermal substitution in some regions due to limited access to waste caused by the pandemic in a time
of increased cement production.
result of initiatives (%) -25% -22% -24% 1990¹
CO2 reduction as a direct
result of initiatives (%) - - -7% 2018²
Absolute CO2 emission per revenue Scope: Cement operations in Brazil, VCNA, VCEAA, Bolivia and Uruguay.
¹ 1990 sectoral base year.
² 2018 SBTi base year.
2020 2021 2022
Absolute CO2 emission per revenue (kgCO2/R$) 1.23 1.13 0.91
Scope: Total scope 1 absolute emissions and global net revenues.
113
11 . ANNE X
Other air emissions GRI 305-7 | SASB EM-CM-120a.1 Management of significant waste-related impacts GRI 306-2
2020 2021 2022 2022
Number of kilns reported 36 39 40 As per its Global Environmental Policy and Green Rules, Votorantim Cimentos aims to
NOx 2020 2021 2022 minimize waste production through reuse, recycling and responsible waste disposal.
Absolute emissions (tonne/year) 35,385 41,150 40,525 To prevent waste from reaching the environment, it is necessary to:
Specific emissions (g/tonne clinker) 1,483 1,394 1,416 • Store waste in closed, ventilated, access-controlled spaces and on impermeable
SOx 2020 2021 2022 bases that have areas to drain and collect contaminated liquids.
Absolute emissions (tonne/year) 15,918 20,282 21,805 • Avoid contact between rainwater and waste; if there is contact,
Specific emissions (g/tonne clinker) 667 687 762 the rainwater must be collected for inspection.
PM (Dust) 2020 2021 2022 • Train employees to take action in case of incidents, according to the Emergency
Absolute emissions (tonne/year) 1,041 1,122 1,083 Plan and the internal and external Communication System.
Specific emissions (g/tonne clinker) 44 38 38 • Dispose of waste according to its characteristics and classification.
Mercury 2020 2021 2022
Absolute emissions (kg/year) 200 311 296 In addition, internal waste management, separation and temporary storage until final disposal is performed
Specific emissions (mg/tonne clinker) 8 11 10 by Votorantim Cimentos. Waste transportation and final disposal is carried out by service providers.
VOC 2020 2021 2022 Scope: Global.
Absolute emissions (tonne/year) 1,298 3,473 2,793

Specific emissions (g/tonne clinker) 54 118 98
Dioxins/Furans 2020 2021 2022 Waste generated by composition GRI 306-3
Absolute emissions (mg/year) 2,866 541 703 2020 2021 2022¹
Specific emissions (ng/tonne clinker) 110* 18* 25 Hazardous waste (tonne) 14,250 3,733* 3,189
HM1¹ 2020 2021 20226 Non-hazardous waste (tonne) 138,250 99,115* 173,830
Absolute emissions (kg/year) 324 564 863 Scope: Global. *Restatements of information GRI 2-4: error made in previous reporting periods.
Specific emissions (mg/tonne clinker) 14 19 30 ¹Significant increase in the generation of waste for co-processing at VCBR in 2022.
HM2² 2020 2021 20226

Absolute emissions (kg/year) 16,407 14,022 36,663
Specific emissions (mg/tonne clinker) 688 475 1,281
Polycyclic Aromatic Hydrocarbons (PAHs)³ |EM-CM-120a.1| 2020 2021 2022 Waste management SASB EM-CM-150a.1
Absolute emissions (tonne/year) - 80 70 2020 2021 2022¹
Specific emissions (g/tonne clinker) - 0.01 0.01 Amount of waste generated (tonne) 152,500 102,848* 177,019
Monitoring data 2020 2021 2022 Hazardous waste (%) 9.3% 3.6%* 1.8%
Total monitoring coverage rate (KP1)4 – Total coverage rate 85% 82% 93% Recycled waste (%) 27.5% 60.8%* 33.6%
Continuous monitoring coverage rate (KP2)5 100% 100% 100% Scope: Global. *Restatements of information GRI 2-4: error made in previous reporting periods.
Scope: Global. ¹Significant increase in the generation of waste for co-processing at VCBR in 2022.
¹ HM1: Cadmium and Thallium.
² HM2: Antimony, Arsenic, Lead, Chromium, Cobalt, Copper, Manganese, Nickel, Vanadium.
³ Setor average in Spain, extrapolated to Tunisia, Morocco and Turkey.
4
KP1: Monitoring of all pollutants.
5
KP2: Monitoring of PM, NOx and SOx.
6
Increase due to a revision in the methodology used to calculate HM1 and HM2 emissions in 2022.
114
11 . ANNE X
Waste diverted from disposal and directed to disposal GRI 306-4, 306-5
2020 2021 2022
Diverted from disposal GRI 306-4 Hazardous Non-hazardous Hazardous Non-hazardous Hazardous Non-hazardous
Total (tonne) 222 47,180 1,547 66,713* 805 66,334
Compostiong 0.6 3,049 0 1,580* 0 2,026
Reuse 0 27,867 34.3 35,620 48.1 16,640
Recycling 38.7 14,103 727 26,161 392 42,404
Recovery 183 1,249 371 2,149 342 3,004
On-site storage 0 913 414 1,203 22.8 2,261
Directed to disposal GRI 306-5
Total (tonne) 14,028 91,070 2,186 32,402 2,384 107,496
Incineration 12.2 1,086 19.3 255 64.2 773
Landfilling 5.5 86,758 185 12,071 186 21,676
Deep well injection 0 0 0 33.5 0 58.6
Others 14,010 3,226¹ 1,982 20,042¹ 2,134 84,988¹
Scope: Global
¹ For non-hazardous waste, it includes the use in co-processing. Significant increase in the generation of waste for co-processing at VCBR in 2022.
Recycled concrete VC 2030

2021 2022
Percentage of recycled concrete returned 93.4% 88.7%
115
11 . ANNE X
Social Performance
Employment GRI 2-7 Turnover GRI 401-1

By type of employment 2020 2021 2022 Total number and rate of
Full-time Female 1,507 1,679 1,735 employee turnover 2020 2021 2022
Male 9,796 10,210 10,491 By gender Number Rate Number Rate Number Rate
Total 11,303 11,889 12,226 Female 485 4.1% 566 4.5% 713 5.4%
Part-time Female 264 332 467 Male 1,589 13.5% 1,976 15.9% 2,146 16.4%
Male 216 245 396 By age group Number Rate Number Rate Number Rate
Total 480 577 863 Under 30 years old 800 6.8% 924 7.4% 1,028 7.9%
By employment contract 2020 2021 2022 30-50 years old 984 8.4% 1,214 9.7% 1,350 10.3%
Temporary (or determined) Female 15 13 11 Over 50 years old 290 2.5% 403 3.2% 476 3.6%
Male 132 136 117 By region Number Rate Number Rate Number Rate
Total 147 149 128 VCBR 1,530 20.0% 1,798 22.4% 2,044 24.1%
Permanent (undetermined) Female 1,756 1,998 2,191 VCEAA 147 11.0% 152 10.9% 145 9.4%
Male 9,880 10,319 10,770 VCNA 367 15.2% 557 20.9%* 647 24.2%
Total 11,636 12,317 12,961 VCLATAM 30 7.7% 34 8.7% 23 9.1%
Total employees Female 1,771 2,011 2,202 Total rate of turnover 17.6% 20.4% 21.8%
Scope: Global.
Male 10,012 10,455 10,887 *Restatements of information GRI 2-4: error made in previous reporting periods.
Total 11,783 12,466 13,089
Scope: Global.
Collective bargaining agreements GRI 2-30

2020 2021 2022
Total number of employees 11,783 12,466 13,089
Employees covered by collective bargaining agreement 9,358 9,791 10,309
Employees covered by collective bargaining agreement (%) 79.4% 78.5% 78.8%
Scope: Global.
116
11 . ANNE X
New hires GRI 401-1 Occupational health and safety GRI 403-9 | VC 2030
Total number and rate of Work-related injuries – Contractors 2020 2021 2022
new employee hires 2020 2021 2022 Fatalities 1 0 0
By gender Number Rate Number Rate Number Rate Rate of fatalities¹ 0.06 0.00 0.00
Female 406 3.4% 417 3.3% 753 5.8% Number of high-consequence accidents² 1 1 1
Male 1,404 11.9% 1,792 14.4% 1,967 15.0% Rate of high-consequence accidents² 0.06 0.04 0.05
By age group Number Rate Number Rate Number Rate Number of injuries³ 20 22 9
Under 30 years old 832 7.1% 800 6.4% 1,233 9.4% Rate of lost-time injuries ³ 1.17 0.93 0.41
30-50 years old 937 8.0% 1,269 10.2% 1,297 9.9% Severity rate 36.7 42.6 44.2
Over 50 years old 124 1.1% 140 1.1% 190 1.5% Number of hours worked 17,102,640 23,720,780 21,814,314
By region Number Rate Number Rate Number Rate Total work-related accident rate
VCBR 1,431 18.7% 1,622 20.3% 2,133 25.1% (employees + contractors) |VC 2030| 1.14 1.14* 0.70
VCEAA 81 6.0% 209 15.0% 209 13.6% Near accidents (employees + contractors) |EM-CM-320a.1| - 11,079 10,091
VCNA 365 15.1% 342 12.8% 359 13.4% Near miss frequency rate (employees
VCLATAM 26 6.7% 36 9.2% 19 3.5% + contractors) |EM-CM-320a.1| ³ - 45.1 76.6
Scope: VCBR, VCNA, VCEAA and Bolivia. Figures do not include Uruguay operations, except for number of fatalities.
Total rate of new
¹The rate was calculated considering the GRI standards: (Number of fatalities as a result of work-related injury/Number of hours worked) *1,000,000 hours.
employee hires 16.2% 17.7% 20.8% ²The number and rate of high-consequence accidents include amputations or six-month leave of absence and exclude deaths. Rates were calculated
based on 1,000,000 hours worked.
Scope: Global.
³ The number and rate of accidents consider only lost-time incidents. Rates were calculated based on 1,000,000 hours worked.
4
The rate of near accidents was calculated based on 2,000,000 hours worked.
Among employees, the main work-related injuries involve the ankles, feet, hands and fingers, and include sprains and fractures. The greatest risks
for high-consequence injuries are dangerous energies, moving and rotating parts, high temperatures, possibility of hot flour leakage, movement of
machines and equipment, lifting of loads and activities at height and in confined spaces. These risks are determined after a systematic study of the
Occupational health and safety GRI 403-9 | VC 2030 processes and assessment of the hazards and risks involved.
Work-related injuries – Employees 2020 2021 2022

Fatalities 1 0 0
Rate of fatalities¹ 0.04* 0.00 0.00
Number of high-consequence accidents² 0 2* 2 Health SASB EM-CM-320a.2| VC 2030
Rate of high-consequence accidents² 0.00 0.08* 0.07 2021 2022
Number of injuries³ 25 34* 25 Number of reported cases of silicosis 0 0
Rate of lost-time injuries ³ 1.11 1.34* 0.94 Scope: VCBR.
Severity rate 67.7 63.1 98.9

Number of hours worked 22,478,029 25,382,557 26,689,680 Satisfaction and Well-being SASB EM-CM-320a.2 | VC 2030
2021 2022
Favorability in satisfaction and well-being surveys (%) 67.4% 75.9%
117
11 . ANNE X
Diversity GRI 405-1 | VC 2030

2020 2021 2022
Under 30 30-50 Over 50 Under 30 30-50 Over 50 Under 30 30-50 Over 50
By age group (%) years old years old years old years old years old years old years old years old years old
President/Director 0% 38.9% 61.1% 0% 40.0% 60.0% 0% 40.5% 59.5%
Manager/General Manager 1.0% 72.2% 26.7% 0.2% 72.1% 27.7% 0.3% 73.4% 26.4%
Coordinator/Consultant 5.8% 75.7% 18.5% 5.4% 77.3% 17.3% 6.5% 73.8% 19.8%
Technician/Analyst/Supervisor 15.6% 67.8% 16.6% 15.5% 69.1% 15.5% 15.0% 69.6% 15.4%
Operator 17.1% 59.9% 23.0% 18.4% 60.3% 21.4% 18.1% 60.0% 22.0%
Intern 95.8% 4.2% 0% 94.6% 5.4% 0% 96.8% 3.2% 0%
Apprentice 100% 0% 0% 100% 0% 0% 100% 0% 0%
Total employees 18.9% 60.7% 20.5% 19.9% 61.0% 19.1% 19.6% 61.0% 19.4%
Board of Directors (%) 0% 38.1% 61.9% 0% 23.5% 76.5% 0% 0% 100%
Scope: Global
The percentage corresponds to the number of employees within each functional category that meets the diversity criteria.
2020 2021 2022

By gender (%) Female Male Female Male Female Male
President/Director 8.3% 91.7% 7.5% 92.5% 10.8% 89.2%
Manager/General Manager 18.8% 81.2% 17.9% 82.1% 19.8% 80.2%
Coordinator/Consultant 29.3% 70.7% 30.6% 69.4% 31.1% 68.9%
Technician/Analyst/Supervisor 22.8% 77.2% 24.1% 75.9% 24.6% 75.4%
Operator 7.9% 92.1% 8.7% 91.3% 9.1% 90.9%
Intern 57.4% 42.6% 57.9% 42.1% 59.9% 40.1%
Apprentice 50.8% 49.2% 57.1% 42.9% 57.2% 42.8%
Total employees 15.0% 85.0% 16.1% 83.9% 16.8% 83.2%
Gender diversity in leadership positions ¹ (%) |VC 2030| 20.1% 79.9% 20.2% 79.8% 21.0% 79.0%
Board of Director (%) 9.5% 90.5% 17.6% 82.4% 14.3% 85.7%
Finance Committee (%) - - - - 25.0% 75.0%
Organization, Compansation and People Committee (%) - - - - 25.0% 75.0%
Audit Committee (%) - - - - 25.0% 75.0%
Scope: Global.
¹ The calculation of gender Diversity in leadership Positions includes the Positions of CEO, director, manager, general manager and coordinator.
118
11 . ANNE X
Diversity GRI 405-1 | VC 2030 Volunteer initiatives VC 2030

People with disability (%) 2020 2021 2022 2021 2022
President/Director 0.0% 0.0% 0.0% Employees engaged in volunteer initiatives (%) 4.9% 6.7%
Manager/General Manager 1.0% 1.0% 0.8% Scope: Global.
Coordinator/Consultant 0.8% 0.5% 0.7%

Technician/Analyst/Supervisor 1.5% 1.5% 1.5% Average hours of training GRI 404-1
Operator 2.6% 2.5% 4.5% 2020 2021 2022
Intern 0.0% 0.0% 0.0% By functional category Female Male Female Male Female Male
Apprentice 0.0% 0.0% 0.0% President/Director 1 8 3 9 4 17
Total employees 2.0% 2.0% 3.2% Manager/General Manager 22 27 60 25* 27 32
Board of Director (%) 0.0%* 0.0% 0.0% Coordinator/Consultant 24 33 42* 30* 18 21
Scope: Global. Technician/Analyst/Supervisor 24 31 19 19 32 32
Operator 11 13 8 16 15 26
Internal perceptions of diversity and inclusion |VC 2030| Average hours of training (female + male) 18 18* 23
2021 2022 Scope: Global.
Favorability in climate surveys (%) 81.1% 81.1%
Social transformation GRI 413 -1 | VC 2030

Operations with implemented local community engagement,
impact assessments, and/or development programs 2020 2021 2022
Total number of operations¹ 323 336 361
Number of operations with implemented local community
engagement, impact assessments, and/or development programs 108 155 226
Operations with implemented local community engagement,
impact assessments, and/or development programs (%) |VC 2030| 33.4% 46.1% 62.6%
Global social investment (R$thousand) 2020 2021 2022

VCBR 7,975 8,750 12,064
VCEAA 2,151 1,510 3,295
VCNA 810 1,730 2,151
VCLATAM 769 726 633
Total 11,705 12,715 18,143
Scope: Global.
¹Number of operations considered for the social engagement plan.
119
11 . ANNE X
Membership Associations
ENTITES INCLUDED IN THE
ORGANIZATION'S SUSTAINABILITY
–
REPORTING |GRI 2-2|
Votorantim Cimentos International S.A .

– “VCI“, Votorantim Cimentos N/NE S.A. -
GRI 2-28
“VCNNE“, Silcar Empreendimentos, Comércio
Participation in industry | Instituto Boliviano del Cemento | Association Professionnelle Türkiye e Participações Ltda., Pedreira Pedra Negra
associations is key to maintaining y Hormigón (IBCH) des Cimentiers (APC) | Çimento Endüstrisi Isverenleri Ltda., Fazenda São Miguel Ltda., Calmit
and consolidating partnerships, | Confédération Générale des Sendikası (ÇEiS) (Cement Industry Mineração Participação Ltda, Lidermac
Brazil Entreprises du Maroc (CGEM) Employers’ Association) Industria e Comércio Ltda., CRB Operações
promoting the continuous
| Associação Brasileira da Indústria de | Türk Çimento (Turkish Cement Portuárias S.A., Motz Transportes Ltda. St.
development of our teams and
Materiais de Construção (ABRAMAT) Spain Manufactures’ Association) Marys Cement Inc. (Canada), MacInnis Cement
engaging with responsibility and
| Associação Brasileira de | Asociación de Fabricantes | Türkiye Hazır Beton Birligi ULC. Québec Inc. (aka GP Co), McInnis Cement
leadership in business forums and Cimentos Portland (ABCP) (THBB) (Turkish Ready Mixed Limited Partnership Aka, Rosedale Securities
de Morteros (ANFAPA)
in relations with governments. | Brazilian Business Council for Concrete Association) Limited, McInnis USA LLC, McInnis Marine
| Asociación Industrial de
That is why, in all regions where we Sustainable Development (CEBDS) Canarias (ASINCA) USA, LLC, Superior Materials Holdings LLC,
operate, we strive to participate in | Brazilian Council for Sustainable United States VCNA Prairie Aggregate Holdings Illinois Inc.,
| Asociación Nacional de Empresarios
different organizations, in addition Construction (CBCS) | American Concrete Pavement VCNA Praire LLC, VCNA Praire LLC, VCNA US
Fabricantes de Áridos (ANEFA)
Association (ACPA) Inc., VCNA United Materials LLC, VCNA United
to endorsing external initiatives and | Green Building Council Brazil | Asociación Nacional Española Materials Builders LLC, Votorantim Cimentos
projects. Globally, we participate in | Instituto Brasileiro de Mineração (IBRAM) de Fabricantes de Hormigón | Illinois Association of Aggregate
North America, Inc., Votorantim Cement EAA
| Instituto Brasileiro do Preparado (ANEFHOP) Producers (IAAP)
the following initiatives: Inversiones S.L. “VCEAA“, Votorantim Macau
Concreto (IBRACON) | European Cement Association | National Ready-Mixed Concrete – Investment Company, Limited, Votorantim
| Sindicato Nacional da Indústria (CEMBUREAU) Association (NRMCA) Cement Corporation Limited., Votorantim
Global
de Cimento (SNIC) | Fundación Laboral Andaluza | Portland Cement Association (PCA) Cement Trading S.L., Votorantim Cementos
| Federación Interamericana
del Cemento (FICEM) | Sindicato Nacional da Indústria de del Cemento y el Medio España, S.A., Cementos Cosmos S.A.,
Produtos de Cimento (SINAPROCIM) Ambiente (FLACEMA) Uruguay Prebetong Áridos S.L., Prebetong Hormigones
| Global Cement and Concrete
| Fundación Laboral del Cemento y el | APPCU, Private Promoters of S.A., Cementos Antequera S.A., Cementos
Association (GCCA)
Medio Ambiente (CEMA Foundation) Construction Uruguay Asment EAA, Morteros de Galicia S.L., A.G.
| Global Cement and Concrete Canada
| Instituto Español del Cemento Cementos Balboa, S.A.U., Comercial Cosmos
Research Network | Cement Association of Canada (CAC) | Cement Manufacturers Association
y sus Aplicaciones (IECA) SUR S.L., Asment de Temara S.A., Société
| Concrete Ontario (Ready Mixed | Construction Chamber of Uruguay Marocainee SMBRM, Alpaca Inversiones S.A.C.,
Concrete Association of Ontario) | OFICEMEN (Association of Cement | Construction League
Bolivia Votorantim Cimento Sanayi ve Ticaret A.S,
Manufacturers in Spain)
| Asociación Boliviana de Gestión | Ontario Stone, Sand & Gravel | DERES – Companies for the Sustainable Ybitas Yozgat Isci Birligi Insaat Malzemeleri
Humana (ASOBOGH) Association (OSSGA) Development (WBCSD local chapter) Ticaret ve, Sanayi A.S., Societe Les Ciments
Tunisia | Exporters Union of Uruguay de Jbel Oust – CJO, Sociedad Financiera y
| Cámara de Exportadores de
Santa Cruz (CADEX) Morocco | Arab Association for Cement & | Spain-Uruguay Business Chamber Minera Sur, S.L, Compañía General de Canteras,
Building Materials (AUCBM) S.A., Votorantim Cimentos Latam, S.à.r.l. -
| Cámara de Industria, Comercio, Servicios | Arab Association for Cement & | Trade Defense League
y Turismo de Santa Cruz (CAINCO) Building Materials (AUCBM) | Chambre Nationale des Producteurs “VC LATAM“, GB Minerales Y Agregados S.A.,
de Ciments de la Tunisie (CNPC) Itacamba Cemento S.A. , Itacamba Cemento
| Centro de Conciliación y Arbitraje | Association Marocaine des
S.A., Yacuces S.L., Cementos Artigas S.A.,
| Fundación Germán Busch Producteurs de Béton (AMBPE)
Great Lakes Slag Inc. contextoRedigir
120
11 . ANNE X
External Commitments
–
GRI 2-23
Globally, we participate in the following initiatives through our Business for Nature: Global coalition formed by influential Race to Zero Campaign: Global campaign to rally leadership
headquarters: organizations and companies that are committed to establishing and support from businesses, cities, regions and investors for
and disclosing biodiversity protection targets. a healthy, resilient and zero carbon recovery that prevents
Benchmark Club of the Carbon Disclosure Project (CDP): future threats, creates decent jobs and unlocks inclusive and
Organization that assesses how companies manage climate- Corporate Social Inclusion Network: Initiative that brings sustainable growth.
related risks and fight climate change. together and encourages companies in Brazil to promote the
inclusion of people with disabilities in the job market. SBE VC RBMA Technical Partnership: Partnership with the
Brazilian Business Council for Sustainable Development Brazilian Society of Speleology and the Atlantic Forest Biosphere
(CEBDS): Represents the World Business Council for Sustainable Global Cement and Concrete Research Network: Known as Reserve to develop and implement sustainable management
Development (WBCSD) in Brazil. Innovandi, this initiative was launched by the GCCA in 2019 to practices in the Atlantic Forest and in cave areas.
manage innovation projects.
Brazilian Council for Sustainable Construction (CBCS): Civil Science Based Target Initiative (SBTi): Drives ambitious climate
organization aimed at generating and disseminating knowledge Global Compact: United Nations initiative that encourages action in the private sector, enabling companies to set science-
and good practices in sustainability in civil construction in Brazil. companies to adopt 10 principles in the areas of human rights, based emission reduction targets.
labor, environment and anti-corruption.
Business Ambition for 1.5°C: Initiative to encourage Task Force on Climate-Related Financial Disclosures (TCFD):
companies to commit to setting science-based targets in line Green Building Council Brazil: Global coalition to promote the Develops recommendations for climate-related disclosures.
with the goal of limiting global temperature rise to 1.5°C above transformation of the construction industry toward sustainability.
pre-industrial levels. Vanzolini Foundation: Non-profit organization created to
Letter of Commitment to the Business Movement for improve the effectiveness of the sustainable development process
Business Initiative for Racial Equality: Initiative championed Integrity, Transparency and Anti-Corruption: By signing this in Brazil. It manages environmental product declarations (EDP),
by companies and institutions that are committed to promoting document, we reaffirmed our commitment to adopting practices to which are documents that are requested by customers seeking
racial inclusion and fighting racism. fight corruption in business and public-private relationships. LEED certification.
Business for LGBTI+ Charter: Commitment signed with the National LGBTI+ Alliance: Civil, multiparty and non-profit
Forum of LGBTQIA+ Rights Companies to promote inclusion and organization aimed at promoting and ensuring the defense of human
fight discrimination against the LGBTQIA+ population. rights and citizenship, in particular of the LGBTI+ community.
121
11 . ANNE X
Assurance Letter
–
GRI 2-5
INDEPENDENT VERIFICATION STATEMENT – BUREAU VERITAS METHODOLOGY In addition to this scope of verification, the Greenhouse Gas (GHG)
The verification covered the following activities: inventory of Votorantim Cimentos Brazil was subject to an exclusive
verification, carried out through a specific protocol of Bureau Veritas.
INTRODUCTION 1. Interviews with those responsible for the material topics and the
Bureau Veritas Certification Brazil (Bureau Veritas) has been engaged by content of the Report;
Votorantim Cimentos to conduct an independent verification of its 2022 2. Analysis of documentary evidence provided by the Votorantim LIMITATIONS AND EXCLUSIONS
Integrated Report (hereinafter referred to as Report). Cimentos for the period covered by the Report (2022); Excluded from this verification was any assessment of information
This verification was conducted by a multidisciplinary team, including 3. Verification of performance data in relation to the Principles that related to:
verifiers with knowledge of financial and non-financial data. ensure the quality of information, in accordance with GRI standards  Activities outside the defined evaluation period;
and the sector supplement;  Position statements (expressions of opinion, belief, objectives or
SCOPE OF WORK 4. Verification of performance data against the criteria set out in the future intentions) by Votorantim Cimentos;
GCCA Guidelines described in the scope of work;  Accuracy of economic and financial data contained in this Report,
The scope of this verification covered the Global Reporting Initiative™
Standards and Principles1 for Sustainability Reporting, including the GRI 5. Evaluation of the systems used to compile data; extracted from financial statements, verified by independent
2013 Mining & Metals Sector Supplement, and is hereinafter referred 6. Remote evaluations in the following Units: Global Corporate Center, auditors;
to as a sectoral supplement, and refers to accountability for the period São Paulo/SP; operational units of Santa Helena/SP, Rio Branco do  Data and information regarding operations and activities that are
from January 1 to December 31, 2022. Sul/PR, Brasil, and Temara, Morocco. not part of the scope of the Report.
The scope of verification additionally covered two GCCA (Global Cement 7. Documentary analysis of stakeholder engagement activities
and Concrete Association) Guidelines, namely: (1) Reporting and developed by Votorantim Cimentos. OPINION ON THE REPORT AND THE VERIFICATION PROCESS
Monitoring of Safety in Cement Production of Feb/20 and (2) Reporting The verification level adopted was Hybrid (Limited* and Reasonable*),  Votorantim Cimentos prepared the Report following the GRI
and Monitoring of CO2 emissions in cement production of Oct/19. in accordance with the requirements of ISAE 30002, incorporated into Standards and Principles, also contemplating the Mining & Metals
In geographical terms, we clarify that we verify data and information Bureau Veritas internal verification protocols. Sector Supplement;
from Votorantim Cimentos at a global level.
 We verified the performance of a new materiality test, carried out
* Limited Verification Level: All indicators except those described below.
in 2022, according to the new criteria of GRI 3 – Materials Topics
RESPONSIBILITIES OF VOTORANTIM CIMENTOS 2021. In our understanding, the result obtained realistically reflects
* Reasonable verification level: GRI indicators 305-1/305-2/305-3/305-4/305-5 (Emissions
AND BUREAU VERITAS and intensity of GHG emissions), GRI 302-1/302-2/302-3 (Energy consumption inside and the topics relevant to the Report. However, we emphasize the
outside the organization and energy intensity) and GRI 403-9 (work related accidents). importance of achieving balance in the stakeholder engagement
The obtaining, calculation and presentation of the published data are the
process by updating the materiality test. Of the total responses
sole responsibility of Votorantim Cimentos. Bureau Veritas is responsible 1
Materiality, Stakeholder Inclusion, Sustainability Context, Completeness, Balance,
Comparability, Accuracy, Timeliness, Clarity and Reliability
received, regarding the 2022 cycle consultations, we found little
for providing an independent opinion to the interested parties, in
2
International Standard on Assurance Engagements 3000 – Assurance Engagements other
significant participation of community members and social project
accordance with the scope of work defined in this statement.
than Audits or Reviews of Historical Financial Information. partners;
122
11 . ANNE X
 As a result of the deepening of the ESG theme at Votorantim  Regarding the indicators of risk of occurrence of child and forced  The Report is not in accordance with the Principles for defining
Cimentos, we highlight the creation of a Sustainability and or slave labor (GRI 408-1 and 409-1), we found that Votorantim content and ensuring the quality of the GRI Standards and its
Innovation Committee, which will take effect from 2023 and will Cimentos declared that it is planning a risk mapping process of Mining & Metals sector supplement.
support the Board of Directors in matters related to sustainability. operations and suppliers.
In this same context, we noted a maturation in the establishment
and monitoring of sustainability indicators, critical analysis and INDEPENDENCE AND IMPARTIALITY STATEMENT
projections for the next 5 years, as well as the definition of a specific RECOMMENDATIONS
Bureau Veritas Certification is an independent professional services
budget for 2023;
 Seek a greater balance in stakeholder engagement by updating the company specializing in Quality, Health, Safety, Social and Environmental
 The Report publishes information on the indicators associated materiality test, regarding the proportion of responses obtained management with more than 185 years of experience in independent
with the material aspects of the GRI standards and the sectoral (consultations) on material topics; assessment services.
supplement. However, we emphasize the importance of
 Prioritize efforts to obtain global consolidated data on protected Bureau Veritas has a quality management system, certified by a third party,
implementing data collection and presentation standards common
and restored areas of the company’s operating units (last cycle according to which it maintains documented policies and procedures for
to all geographical regions of the company’s operations, since part
recommendation); compliance with ethical, professional and legal requirements.
of the indicators verified by our team is limited to the geographical
scope Brazil (VCBR);  Regarding the data collection process of units from abroad, improve The verification team has no link with Votorantim Cimentos, conducting
the systematization of the collection process, defining calculation this work independently.
 The published safety indicators include the criteria of the
memories and data traceability, in order to obtain a minimum basis Bureau Veritas has a Code of Ethics throughout its business to ensure
GCCA Cement Production Safety Guideline. We evidenced the
of reliability of the information received (recommendation of the that its employees maintain the highest standards of ethics, integrity,
completeness and reliability of safety data in a more in-depth
past cycle); objectivity, confidentiality, and professional competence/behavior in
manner (Reasonable scope);
 Implement a mechanism for associating the Economic Use Plans their daily activities.
 The published CO2 emission indicators include the criteria of the of mines with the closure plans of the mines (MM10 indicator), At the end of the process and Verification, a Detailed Report was
GCCA’s Reporting and Monitoring of CO2 emissions in cement aligning the requirements applicable to both, especially with regard generated, kept as a record in our Management System.
production Guideline (Reasonable scope); to guarantees for the provision of financial resources for the
 The data presented to meet the GHG emissions indicators are execution of the closure plans (recommendation of the last cycle);
part of the GHG emissions inventory of Votorantim Cimentos. This  Carry out a complete mapping of the risks related to child labor and CONTACT
inventory was verified by Bureau Veritas through an independent (analogous to) slave labor in operations and suppliers, according to www.bureauveritascertification.com.br/faleconosco.asp
assurance process. We note that the presentation of the data the premises of indicators GRI 408-1 and 409-1.
regarding the inventory followed the methodology of the GRI telephone (11) 2655-9000.
standards;
 We note that the Report presents SASB indicators associated CONCLUSION
with the company’s material topics. However, the analysis of these
Based on the verification work conducted, the evidence presented to us
indicators was not part of Bureau Veritas’ scope of verification; São Paulo, March 2023.
and according to the scope of work defined in this statement, nothing
 Regarding the management of the Mine Closure Plans (indicator has come to our attention that could indicate that:
MM10), we found that there is an opportunity to optimize the form
 The information provided in the Report is not balanced, consistent
of management, associating the updating of the Plans (incl. their
and reliable;
scope) to the Economic Utilization Plans (PAE) of the mines. It
was not possible to evidence the provisioning of resources for the  Votorantim Cimentos has not established appropriate systems
Alexander Vervuurt
execution of mine closure plans; for the collection, compilation and analysis of quantitative and
Lead Auditor Assurance Sustainability Reports (ASR)
qualitative data used in the Report; Bureau Veritas Certification – Brazil
 We evidenced that the company improved the system of monitoring
protected areas in its operational units, but kept the presentation
of indicator 304-3 limited to the geographical scope Brazil (VCBR)
and without data of restored areas;
123
11 . ANNE X
Corporate Information
–
BOARD OF DIRECTORS SUSTENTABILITY AND INNOVATION COMMITTEE CREDITS We are grateful for the support and
Luiz Antonio dos Santos Pretti (Chairman)¹ Luiz Antonio dos Santos Pretti (Chairman)¹ Votorantim Cimentos dedication of the corporate and industrial
Clarissa Lins¹ Clarissa Lins¹ Álvaro Lorenz areas of Votorantim Cimentos and,
Fabio Ermírio de Moraes José Roberto Ermírio de Moraes Filho Ana Carolina Ricardo da Costa especially, to the Santa Helena and Rio
Francisco de Sá Neto¹ ¹Independent members Andreza Gomes Silva Branco do Sul sites, which were part of
Johann Markus Akermann¹ Christopher Mason the assurance process and the collection
José Roberto Ermírio de Moraes EXECUTIVE LEADERSHIP Diego Augusto Guiguer Boccia and verification of the information
Sérgio Malacrida Marcelo Strufaldi Castelli – Global CEO Ellen Kazuko Utiama Suzuki that is included in this document.
¹Independent members
Filiberto Ruiz – CEO, VCNA Fabio Cirilo
Geraldo Magella Questions about this document or about
Günther Smetana – CEO, VCLATAM
AUDIT COMMITTEE Isadora Miyuki Kano Carmo Votorantim Cimentos, as well as comments
Jorge Alejandro Wagner – CEO, VCEAA
José Écio Pereira da Costa Júnior (Chairman)¹ Julia Pamplona and suggestions that may help us improve
Clarissa Lins¹ Osvaldo Ayres Filho - Global Officer of Kelly Cristina Bassi Theodosio our reporting process, can be directed
Cement, Logistics and Adjacent Businesses
Diego Fresco Gutierrez¹ Leonardo Ferreira Gomes Luna to [email protected]. GRI 2-3
Bianca Patrocínio – CFO
Luiz Aparecido Caruso Neto Maria Jose Martin Aradilla
¹ Independent members Adjarbas Guerra Neto – Global Officer of Melissa Domenich Bianchi
Governance, Risks, Compliance and Internal Audit
Content and editing
FINANCIAL COMMITTEE Álvaro Lorenz – Global Officer of
Sustainability, Institutional Relations, Editora Contadino
Sergio Augusto Malacrida Junior (Chairman)
Product Development and Engineering Graphic design and layout
Cristina Betts¹
Multi Design
Luiz Antônio dos Santos Pretti¹ HEADQUARTERS GRI 2-1
Marcio Yukio Yamachira Materiality and SDG Study
Rua Gomes de Carvalho, 1996,
¹Independent members Editora Contadino
11th floor – Vila Olímpia
São Paulo – SP – Brazil External Assurance
ORGANIZATION, COMPENSATION + 55 11 4572-4000 Bureau Veritas
AND PEOPLE COMMITTEE www.votorantimcimentos.com.br/ Images
Francisco de Sá Neto (Chairman)¹
Votorantim Cimentos image bank
Sergio Augusto Malacrida Junior
Luciana Domagala¹ English translation
Luiz Antonio dos Santos Pretti¹ Claudia Gustavsen
¹Independent members
124

Integrated Report 2022 - Votorantim Cimentos

Uploaded by

Copyright:

Available Formats

Integrated Report 2022 - Votorantim Cimentos

Uploaded by

Document Information

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Integrated Report 2022 - Votorantim Cimentos

Uploaded by

Copyright:

Available Formats

Votorantim Cimentos Integrated Report 2022

The world is CHANGING –

Click on a title to be directed to a specific chapter. 03 | Votorantim Cimentos

05 | Sustainability and Strategy

08 | Caring for People

09 | Competitiveness and Innovation

10 | Creating a Positive Legacy

This Report is interactive.

Click on the interactivity icon for more information.

Principles of the UN Global Compact

Businesses should uphold the freedom of association and

Responsible use of materials, 6

Diversity and inclusion

Businesses should work against corruption in

Click on the interactivity icon for more information

Stakeholders Communication and engagement channels

Shareholders Board of Directors meetings, results conferences, Integrated Report.

Financial institutions Financial reports, investor briefings, Integrated Report.

Government agencies Meetings, public consultations, website, Integrated Report.

In 2022, we faced significant socioeconomic challenges

We launched new types of mortars, expanded our aggregate sites

As part of the evolution of our organizational culture, we launched

Trust in the Future

In 2022, we once again remained true to our principles

■ Operations and activities around the world

■ Awards and Recognition

Our shares are 100% owned by Votorantim S.A., an investment

Operations and activities around the world

1 1 2 Bolivia3 Cimentos Clinker

Cement sites with co-processing

Cement sites with co-processing

Cement (integrated sites)

Cement (integrated sites)

Lime and aglime

Lime and aglime

Cement sites with co-processing

Cement (integrated sites)

Lime and aglime

Awards and Recognition

ANAMACO Awards – Votorantim Cimentos was the winner of a

The Best of Dinheiro – Votorantim Cimentos had the highest score

Chairman appointment – The CEO of VCNA, Filiberto Ruiz, was named

Cement Industry Employers Association – Our Sivas plant won an

FINANCIAL CAPITAL HUMAN CAPITAL

Solid and lasting results: New corporate branding

R$25.8 billion net revenue

R$1.1 billion net profit Increase

in gross debt with sustainability-linked KPIs

MANUFACTURED CAPITAL NATURAL CAPITAL

Integration of acquisitions and business combinations Approval

36.8 million tonnes of cement sold

Investment 24% reduction of CO2 net emissions compared to 1990

73.9% clinker/cement factor

22.9% of renewable energy

INTELLECTUAL CAPITAL SOCIAL AND RELATIONSHIP CAPITAL

Participation Investment in innovation

First Distribution Center Rede Transformar:

Study and development

226 sites with engagement plans

6.7% of employees engaged in volunteer activities