A.History and Development of the Company Loma Negra is a corporation organized as a Compañía Industrial Argentina Sociedad Anónima under the laws of Argentina. Our principal executive offices are located at Boulevard Cecilia Grierson 355, 4th Floor, Zip Code C1107CPG – Ciudad Autónoma de Buenos Aires, Argentina and the telephone number of the office is 54-11-4319-3048. We file reports, including annual reports on Form 20-F, and other information with the SEC pursuant to the rules and regulations of the SEC that apply to foreign private issuers. The SEC maintains an internet site that contains reports, proxy and information statements, and other information regarding issuers that file electronically with the SEC. Any filings we make electronically with the SEC are available to the public at the SEC’s web site at http://www.sec.gov. Our website is http://www.lomanegra.com. The contents of our website and other websites referred to herein are not part of this annual report. We were incorporated on May 10, 1926 and registered in the regulatory agency on August 5, 1926. Our date of expiration is July 3, 2116 and, pursuant to section 4 of our bylaws, our corporate purpose includes engaging in commercial, industrial, real estate and financial activities. We are also authorized to carry out business in the mining and construction industries, and to operate transportation and public services. In 1998, we acquired the concrete operations of several producers in the greater Buenos Aires area and in the city of Rosario. These companies were merged into Loma Negra in 2010. We operate our concrete business under the Lomax brand, and we are the leading concrete company in the greater Buenos Aires area and Rosario, being specialists in large construction projects as this segment includes a broad product line of specialty concretes. In the early 2000s, we finished the construction of L’Amalí, located approximately five kilometers from our Olavarría plant, and LomaSer, located approximately 50 kilometers from the city of Buenos Aires. These two plants are connected through the Ferrosur Roca railway, being a complement of each other, aiming to better serve the greater Buenos Aires and the city of Buenos Aires area, Argentina’s most important cement consumption market. In 2005, we became part of the InterCement Group. Since then, we have invested in several projects, which have allowed us to increase production and be more efficient and competitive in a demanding market. In order to diversify our energy matrix, we invested in alternative fuels (petroleum coal-petcoke), which makes it possible to keep our kilns running throughout the year substituting, if necessary, natural gas. In 2009, we acquired La Preferida de Olavarría S.A., or La Preferida de Olavarría, a quarry of stone crushing, thereby allowing us to strengthen our vertical integration. In 2015, this company was merged into Loma Negra. In 2006, the Loma Negra Foundation was created with a vision of community development and toward the self-sustainability of projects through partnerships with several local actors or other public or private institutions. The Loma Negra Foundation primarily invests in projects related to education, capacity-building, entry of young people into the labor market and inclusive productive business. In 2012, we acquired 35% of Yguazú Cementos’, a Paraguayan cement company, outstanding shares from Votorantim Cimentos. Additionally, in 2016, we acquired an additional 16% of the company’s outstanding shares from InterCement Brasil, which led us to achieve the control of Yguazú Cementos, with 51% of ownership in the company. However, on August 21, 2020, we decided to sell our total stake in Yguazú Cementos, an operation with high standards of production and profitability. The sale was made to the local shareholder of Yguazú Cementos. We believe the economic result obtained by this operation was very beneficial for us and is in line with the goal of maximizing value for our shareholders. The sale price was US$107 million, and we used the proceeds to repay existing debt and distribute extraordinary dividends. On October 31, 2017, we completed our initial public offering and on November 1, 2017, our ADSs representing ordinary shares began to trade on the NYSE and our ordinary shares began to trade on BYMA. On December 2021, we inaugurated the second line of our L’Amalí plant, located in the city of Olavarría, in the province of Buenos Aires. This second line allowed us to increase significantly our production capacity, making our plant one of the largest in South America. The incorporation of the new line was a technological update to our plant and increased our productivity. The new line also adopted sustainability policies that comply with international environmental 35 Table of Contents guidelines in terms of environmental care. The new line has high efficiency features, low thermal and electrical consumption and water reuse systems. It incorporates a new clinker kiln that is prepared for the use of alternative fuels made from co-processed waste that replace fossil fuels. In the context of the L’Amalí expansion, and considering market demands, we decided to repurpose the Barker and San Juan plants. We transformed these plants’ full cement lines into grinding and distribution centers. In 2021, considering the facts above-mentioned, we determined to close the Sierras Bayas Plant. Our most recent material investment is to adjust our cement bags to the 25-kilogram format pursuant to Resolution 54/2018 of the Secretary of Commerce. In line with this initiative, we carried out an investment of approximately US$ 70 million in industrial infrastructure, aimed at adapting and upgrading our production processes. The project included the modernization of seven industrial plants. This milestone represents a significant shift in the Argentine construction industry, which has traditionally relied on 50-kilogram bags, and marks a transition toward safer operating conditions for construction workers. B.Business Overview We produce and distribute cement, masonry cement, aggregates, concrete and lime, which are products primarily used in private and public construction. We work with wholesale distributors, concrete producers and industrial customers, among others. We are a vertically-integrated cement and concrete company, with nationwide operations, supported by vast limestone reserves, strategically located plants, top-of-mind brands and established distribution channels. As of December 31, 2025, we held a market share of 43.6% in terms of sales volume in Argentina according to our management estimates. Over our 99-year history we have built Argentina’s sole nationwide vertically integrated cement and concrete business, supported by top-of-mind brands and captive distribution channels. As of December 31, 2025, our annual installed clinker and cement production capacities amounted to 7.3 million tons and 12.0 million tons, respectively. We hold significant, strategically located limestone reserves and we estimate that our existing quarries have sufficient reserves to support our operations for approximately 149 years, based on the cement production levels of the last five years. For the year ended December 31, 2025 and 2024, we had revenues of Ps. 848,087 million and Ps. 919,761 million, respectively, and net profit of Ps. 22,821 million and Ps. 202,094 million, respectively. For the year ended December 31, 2025 and 2024, we also had net profit margin (net profit divided by revenues and expressed as a percentage) of 2.7% and 22.0%, respectively. Our net debt (borrowings offset against cash and banks, cash-equivalent and other short term investments) as of December 31, 2025 was Ps. 266,492 million and Ps. 213,567 million for December 31, 2024. Our Products We offer our customers a broad range of high-quality cement products and a diversified product portfolio aimed at meeting all of their cement needs. Since our inception, we have developed and expanded our product range, tailoring different mixtures and product lines for a wide variety of uses and client needs. We currently produce cement (compound cement, cement with calcareous filler, pozzolana cement, as well as other specialty type cements), masonry cement, lime and concrete. In 2024 and 2025, cement accounted for 88% and 89% of our shipments, respectively. In Argentina, we sell our products under the Loma Negra trademark, which we believe is the most well-known cement brand in Argentina, and which we believe is synonymous with “cement” in the country. We believe that our brand recognition is important, given that bagged cement represents a significant part of the cement sold in Argentina. We sell our products in bulk and in bags, with bagged cement representing approximately 60% of our sales in 2024 and 57% in 2025. Cement Through our brand name Loma Negra we produce 7 different types of cement in bags and 16 types of cement in bulk. Our cement products meet all requirements and quality standards as outlined in the following Standard Specifications of the Instituto Argentino de Normalización y Certificación, or the IRAM Institute: IRAM-50000:2024, IRAM-50001:2019 and IRAM-50002:2009. These specifications were constructed based upon the European Cement Standards. The IRAM Institute is a member of the International Standard Organization, or the ISO. 36 Table of Contents Masonry Cement As part of our continued diversification of our product line, we entered the masonry cement market in 1973. Our masonry cement brand Plasticor is well-known in Argentina. In the masonry cement market we believe we are market leaders, followed by Hidralit of Cementos Avellaneda S.A., in a market that represents approximately 600 thousand tons per year. Lime We produce two different types of lime: (1) hydraulics, under the brand Cacique Max; and (2) industrial, under our brand Loma Negra Plus. These products are generally used for generic masonry, underpinning, interior and exterior plaster, interior and exterior subfloors and soil stabilization. The mixing process includes cement, sand and lime. The oldest and most traditional use of lime has been in mortar and plaster, because of its superior plasticity and workability. There are other applications of lime in construction. The dominant construction-related use of lime is soil stabilization for roads, building foundations and earthen dams. Lime is added to low quality soils to produce a usable base and sub base. Hydrated lime has long been acknowledged to be a superior anti-stripping addition for asphalt pavements. It also helps resist rutting and fracture growth at low temperatures, reduce age hardening and improve the moisture resistance and durability. Concrete and Aggregates We participate in the concrete market under our Lomax brand offering different types of concrete. We also sell granitic aggregates through our plant La Preferida in Olavarría, which comprised approximately 51.4% of the aggregates consumed by Lomax in their concrete production operations in 2025. Lomax offers a highly recognized set of solutions to our clients, including quality control, in-place facilities and logistics solutions, among other features, which can be customized to our customer’s needs. Lomax concentrates its operations on the segments in which it can assert its differential attributes: focus on quality, operational and logistic capacity and development of customized solutions. Production Process Cement Production We produce cement in a closely controlled chemical process. All our plants use the dry cement production process, incorporating state of the art technology. Below we set forth the standard phases of the cement production process, which consists of the following main stages: extraction and transportation of limestone from the quarry; grinding and homogenization to make the raw meal of consistent quality; clinkerization; cement grinding; storage in silos; and packaging, loading and distribution. 1. Mining The extraction process of the principal raw materials (limestone and clay). Naturally occurring calcareous deposits such as limestone, marl or chalk provide calcium carbonate and are extracted from quarries, often located close to the cement plant. In the pre-operational phase, the extraction process begins with mining research and probing to identify the quality and quantity of limestone. Once economic feasibility is established, we begin planning the mining work to define final digging configuration as well as the size of the fleet of vehicles and equipment needed for the operation. In the operational phase, the blocs are marked, and the holes are made by punch presses. The holes are then loaded with explosives and detonated to obtain fragmented material, which is then transported to the crushing system to reduce the granulation level. Clay extraction does not normally require explosives. 2. Transportation Limestone is loaded by large blades on dump trucks and carried to the crushing plant. 3. Primary crushing The primary crusher converts the rocks into small stones. 37 Table of Contents 4. Pre-homogenization of the limestone and clay Approximately 90% of the limestone is stored in a park, where the first homogenization of the chemical composition of the stone is achieved. At the crusher, the limestone rocks are reduced to fragments measuring approximately ten centimeters for vertical raw mills, and one inch for ball mills. This crushed limestone is then transported to the cement plant by truck or conveyor belt. Clay is also transported by truck to the plants. At the clinker plant, crushed limestone is blended by reducing the variations in chemical properties in order to obtain a homogenized mixture of limestone and clay. 5. Grinding and homogenization (“raw meal” production) The crushed pieces are then milled together to produce a powder called “raw meal”. Subsequently, the raw meal is sent to a blending/storage silo from where it is fed into the pre-heater. 6. Burning of raw meal to produce clinker (“clinkerization”) A pre-heater is a series of vertical cyclones through which the raw meal is passed. In these cyclones, thermal energy is recovered from the hot flue gases and the raw meal is preheated before it enters the kiln, so the necessary chemical reactions occur faster and more efficiently. Calcination is the decomposition of limestone to lime. Part of the reaction takes place in the “pre-calciner” and part in the kiln. Here, the chemical decomposition of limestone typically emits 65% of total emissions. The pre-calcined meal then enters the kiln. Fuel is fired directly into the kiln to reach temperatures of up to 1,450 degrees Celsius. The intense heat causes chemical and physical reactions that partially melt the meal to form a mixture of calcium silicates and other silicates, which is called “clinker”. 7. Cooling and final milling of clinker to produce cement From the kiln, the hot clinker falls onto a grate cooler where it is cooled to a temperature of approximately 100 degrees Celsius by incoming combustion air. A typical cement plant will have clinker storage between clinker production and grinding. Traditionally, ball mills have been used for grinding, although more efficient technologies like roller presses and vertical mills are used in many modern plants today. In this form, cement reacts as a binding agent that, when mixed with water, sand, stone and other aggregates, is transformed into concrete or mortar. 8. Storing in the cement silo The final product is stored in cement silos and dispatched from there to either a packing station (for bagged cement) or to a bulk silo. Most of our product is sold in paper bags, which are generated through an industry standard automatic bagging process. 9. Cement dispatch Cement is dispatched in bulk or in paper bags sacked on pallets. 38 Table of Contents The chart below illustrates the different phases of our cement production process, as numbered above: To ensure an efficient production process, our plants use monitoring and control tools, including: (1) automated controls using specialized software for the operation and monitoring of the cement production process; (2) measuring and testing equipment that offer metrological reliability; and (3) SAP system support for management of production planning and maintenance. Concrete Production Concrete is produced either in concrete plants and transported directly to construction sites as concrete in trucks or produced at the construction sites. In the concrete industry, it is crucial to have a close network of concrete plants to meet customers’ delivery needs. The concrete production process is a question of minutes with a logistic cycle of less than 2.5 hours per trip. Cement mixed with water, fine aggregates, coarse aggregates and chemical admixtures enters the hydrate phase. After a short period, a chemical reaction hardens the concrete into a permanent form of artificial stone. Compressive strength, durability, setting times, ease of placing, and workability under various weather and construction conditions characterize this building material. Lime Production 1. Mining, crushing and homogenization of the limestone The extraction process of the principal raw material: limestone. See “—Cement Production”. 2. Burning of limestone to produce quicklime (“calcination”) The limestone then enters the kiln. Fuel is fired directly into the kiln to reach temperatures of up to 1,200 degrees celsius. The intense heat causes physical reactions that partially transform limestone into quicklime. While there are multiple kiln types in use, we have a rotary kiln in our plants. A rotary kiln consists of a rotating cylinder that sits horizontal. Limestone is fed into the upper or “back end” of the kiln, while fuel and combustion air are fired into the lower or “front end” of the kiln. Limestone is heated as it moves down the kiln toward the lower end. As the preheated limestone moves through the kiln, it is “calcined” into lime to reach temperatures of up to 1,200 degrees celsius. The lime is discharged from the kiln into a cooler where it is used to preheat the combustion air. Lime can either be sold as is or crushed to make hydrated lime. 3. Cooling and storing of quicklime From the kiln, the hot lime falls onto a grate cooler where it is cooled to a temperature of approximately 200 degrees celsius by incoming combustion air. A typical lime plant will have a quicklime production and hydration and classification plant. 39 Table of Contents 4. Hydration and classification plant to produce hydrated lime Quicklime can be processed into hydrated lime by crushing the quicklime, adding water to the ground lime, and then classifying the hydrated lime to ensure it meets customer specifications before it is transported. 5. Storing in the lime silo and dispatch The final product is stored in lime silos and dispatched from there to either a packing station (for bagged hydrated lime) or to a bulk silo. Most of our product is sold in paper bags, which are generated through an industry standard automatic bagging process. Masonry Cement Production The production of masonry cement is similar to cement production, See “ —Cement Production”. However, the blending and final milling of the clinker processes vary in the production of masonry cement. 1. Blending Masonry cement consists of a mixture of clinker, gypsum and plasticizing materials (such as limestone), together with other additions introduced to enhance one or more properties of the cement, such as: setting time, workability, water retention, and durability. We prepared our additions for masonry cement at our Olavarría plant. 2. Final milling of clinker to produce masonry cement Ball mills are used for grinding. In this form, masonry cement is designed to be mixed with sand and water to produce a masonry mortar. Masonry mortar is specially formulated and manufactured for use in brick, block, and stone masonry construction. Masonry cements are also used to produce stucco. 3. Storing in the cement silos The final product is stored in cement silos and dispatched from there to either a packing station (for bagged masonry cement) or to a bulk silo. Most of our product is sold in paper bags, which are generated through an industry standard automatic bagging process. Capacity and Volumes In 2024, our production volume reached 4.8 million tons of cement, masonry and lime, and in 2025, it reached 4.9 million tons. We had a cement installed capacity of 12.0 million tons, a concrete installed capacity of 1.3 million m3, an aggregated installed capacity of 1.8 million tons annually and a lime installed capacity of 0.5 million tons annually. Annual installed capacity is based on a 365-day production per annum based on international key performance indicators, or KPIs. 40 Table of Contents The following table sets forth certain data related to our operations for the periods indicated. As of and for the Year Ended December 31, 2025 2024 2023 Operating data (million tons annually)(1) Installed cement capacity Total installed cement capacity 12.0 12.1 12.1 Installed clinker capacity Total installed clinker capacity 7.3 7.3 7.1 Installed concrete capacity in Argentina (in m3)(2) 1.3 1.3 1.3 Installed aggregates capacity in Argentina 1.8 2.2 2.2 Installed lime capacity in Argentina 0.5 0.5 0.5 Production volume (millions of tons): Cement, masonry and lime total 4.9 4.8 6.4 Clinker Total 3.2 3.1 4.3 (1)Annual installed capacity is based on a 365-day production per annum based on international KPIs. (2)Installed concrete capacity refers to concrete capacity based on plants dispatch capacity. The table below sets forth the name, location and annual clinker and cement production at each of our seven cement plants during the year ended December 31, 2025: Name Location Annual Production of Clinker Annual Production of Cement, Masonry Cement and Lime (in millions of tons) Barker Benito Juárez — — Catamarca El Alto 0.7 1.0 L’Amalí / LomaSer Olavarría/Vicente Casares 2.3 2.8 Olavarría Olavarría — 0.5 San Juan San Juan — 0.1 Zapala Zapala 0.2 0.3 Ramallo Ramallo — 0.2 Total 3.2 4.9 41 Table of Contents The following table sets total production of each of our plants of cement, masonry cement and lime, our principal products, for each of the periods indicated: Name Production for the Year Ended December 31, 2025 2024 2023 (in millions of tons) Argentina: Barker — 0.1 0.1 Catamarca 1.0 0.9 1.2 L’Amalí/ LomaSer 2.8 2.6 3.6 Olavarría 0.5 0.6 0.8 San Juan 0.1 0.1 0.2 Zapala 0.3 0.3 0.3 Ramallo 0.2 0.2 0.2 Total 4.9 4.8 6.4 Quality Control We monitor quality control measures at each stage of the cement production process. At each of our plants, we review our production line, and periodically perform examinations of the raw material mix. These examinations include chemical, physical and x-ray tests. We perform similar examinations on the clinker we produce as it comes out of our kilns. In addition, we similarly test our finished products. These examinations are performed by sampling the subject material from the various points on each production line. All of our plants have received ISO 9001 certification, which reflects the quality of our products and of our operating procedures. Our quality controls comply with the ISO 9000 rules. Raw Materials The principal raw materials used in the production of cement include: (1) limestone, clay and gypsum for the production of clinker, and (2) clinker additions, including blast furnace slag, pozzolana, and paper bag, since we package a substantial portion of our cement in bags. These items, among others raw materials, collectively represented 12% in 2025, 19% in 2024 and 18% in 2023, of our total cost of sales. To further maintain our cost competitiveness, we obtain nearly all of our mineral resources from our own quarries, using, either third party services or our own mining equipment. For the year ended December 31, 2025, almost all of our limestone was sourced from our own quarries. We own and exclusively operate our limestone quarries. Mining Operations Disclosure (Mineral Reserves) The disclosures in this section titled “Mining Operations Disclosure” are provided to comply with Regulation S-K Item 1300 of the SEC, which govern disclosures by registrants engaged in mining operations. This section contains summary disclosure of all of the company’s mining operations as required by Regulation S-K Item 1303. Additionally, the company considers the La Pampita y Entorno mining operations to be individually material for purposes of application of Regulation S-K 1304, and thus has provided individual property disclosure for them as so required. Our reserves are a sum of proven and probable reserves. The terms “mineral resource,” “mineral reserves”, “proven reserves” and “probable reserves” as used in this section are defined in accordance with Regulation S-K Item 1300. “Proven reserves” are those mineral masses for which size, shape, depth and mineral content of reserves are well established, revealed by geological surveys, drilling campaigns, chemical analysis and geological modeling, to ensure exploitability and usage. All of these activities determine the quantity of minerals that matches the quality required by our production process. Our proven reserves contain suitable geological and chemical information density (drill holes) to guarantee their existence, continuity and the suitability of use. Proven reserves are constrained by a final pit configuration (effectively exploitable reserves). In addition to the foregoing, we consider reserves to be proven if they are present on land we own and if related environmental permits have been granted. “Probable reserves are mineral masses for which quantity or quality are computed from information similar to that used from proven reserves, but the sites for inspection, sampling, and measurement are farther apart. Our probable reserves contain similar suitable geological and chemical information density (drill holes) to guarantee their existence, continuity and the suitability of use than our proven reserves. The degree 42 Table of Contents of assurance, although sometimes lower than that for proven reserves, is high enough to assume continuity between points of observation. In addition to the foregoing, we consider reserves to be probable if they are not present on land we own or if related environmental permits have not been granted. Our proven and probable reserve estimates are based on estimated recoverable tons and are prepared by our engineers and geologists (at least one of whom is a “qualified person” as defined in Regulation S-K Item 1300) and then analyzed and verified by other business units within the company. For the fiscal year ended December 31, 2021, we filed as Exhibit 96.1 to the annual report on Form 20-F, a copy of the technical report summary (TRS) prepared by a "qualified person" employed at the company (the "Qualified Person") that was required by Regulation S-K Item 1302. Such TRS identifies and summarizes in all material respects the information reviewed and conclusions of such qualified person specifically to the La Pampita y Entorno individual property disclosures in this section as of the dates stated in such technical report summary. For the fiscal year ended December 31, 2025, the Qualified Person after careful review determined that there have been no material changes to our reserves at the La Pampita y Entorno quarry that would necessitate an update to the TRS filed for the fiscal year ended December 31, 2021. Therefore, we have not engaged in the preparation of a new TRS for the current reporting period. The company's engineering and geological teams, along with our corporate oversight functions, ensure ongoing accuracy and relevance of our mineral reserve data. We will continue to monitor and will disclose any material changes to our reserves in accordance with SEC requirements and our commitment to transparency and shareholder communication. In line with Regulation S-K 1300, we make no determination in this section regarding the existence of mineral resources for any of our other mining properties, as it is not material to our business. Summary Mining Operations Disclosure Overview of Mining Properties and Operations Our cement operations are supplied by limestone reserves that are located within close proximity to our production facilities. We own and operate four open-pit quarries from which limestone can be extracted efficiently due to the proximity of the limestone deposits to the surface and the quality of the limestone in the mines that meets the process requirements. We have total limestone reserves of approximately 1,072 million tons, which should be sufficient to supply us with approximately 149 years of cement production at our last five years rate of consumption. Each of our plants possesses and is responsible for several active and inactive mining licenses. Active mining licenses are those for which we hold all necessary permits and rights to actively exploit the mineral resources. Each of our plants also holds inactive mining licenses on areas for which we do not have the operational license, since their exploitation is not currently necessary. Our mining capital expenditures are focused on developing new quarries and sustaining investments, and are used mainly for mining equipment, crushing systems, safety equipment and environmental compliance. The below table includes a complete list of our mining operations, including relevant information for each quarry. As noted below, all of our mining operations are in the production stage. 43 Table of Contents List of our Mining Operations by Region Name of mining operation Location of the mining operation Type and amount of ownership interests Operator Surface Stage of the mining operation Permits Key condition of permit Type of mine / material Beneficiation plant and other installations Aggregate Production 2023 Aggregate Production 2024 Aggregate Production 2025 (Has) (in thousands of tons) Doña Amalia Catamarca 100 Loma Negra 298 Production Yes EIA (1) and others Open Pit / Limestone Mining facilities 1,621.00 1,175.10 1,251.60 Piedras Blancas (2) San Juan 100 Loma Negra 117 Closed Yes EIA (1) and others Open Pit / Limestone Mining facilities 0.1 0.0 0.0 El Salitral Zapala 100 Loma Negra 2,995 Production Yes EIA (1) and others Open Pit / Limestone Mining facilities 467.2 383.7 397.4 Barker Barker 100 Loma Negra 269 Production Yes EIA (1) and others Open Pit / Limestone Mining facilities 314.4 288.8 306.7 La Pampita y Entorno Olavarría 100 Loma Negra 1,850 Production Yes EIA (1) and others Open Pit / Limestone Mining facilities 5,632.00 3,942.80 4,178.20 La Preferida Buenos Aires 100 Loma Negra 94 Production Yes EIA (1) and others Open Pit / Granite Mining facilities 1,459.80 1,133.90 1,180.00 (1) Environmental Impact Study (EIA). Permits or licenses have been obtained, are being renewed or are being processed in accordance with current regulations. (2) As to the date of this annual report, Piedras Blancas Quarry is closed and no further exploitation is expected. The aggregate production of all limestone mining operations for each of the years ended December 31, 2025, 2024 and 2023 was 6,133.9 thousand tons, 5,790.4 thousand tons and 8,034.7 thousand tons, respectively, and the production of our granite operation for each of the years ended December 31, 2025, 2024 and 2023 was 1,180.0 thousand tons, 1,133.9 thousand tons and 1,459.8 thousand tons, respectively. The following map of Argentina shows the location of our total material and non-material mining operations. Our mining operations are located in Catamarca, San Juan, Zapala, and the central Buenos Aires region. For more information on all of our facilities, see “—Property, Plant and Equipment.” 44 Table of Contents General Map of our Mining Operations Overview of Mineral Reserves The below table summarize the mineral reserves of all of our mining concession. We do not classify our reserves by average grade. Drilling or sample density information is not the key criteria we use to distinguish proven from probable reserves. Nevertheless, to analyze the drill hole data from our quarries we assume the following distance ranges between drill holes: for active quarries, between 60 and 150 meters, and for inactive quarries, between 150 and 300 meters. The density between drill holes (samples) used in the reserves estimation process is a function of the geological complexity of the deposits and the chemical heterogeneity of the materials used in the process; therefore, we do not have a single, fixed criteria for all of our mineral reserves. We also do not use the price or cost of raw materials used in the cement production process as a variable in our reserves’ evaluation process because there is no global commodity market value for these raw materials, which prices depend on the cement local market value. We distinguish recoverable limestone from waste by evaluating whether the limestone rocks are adequate to be used in a raw mill, which is a powder composed of a clay and limestone mixture, and other minerals. In order to meet raw mill specifications, we generally use limestone with at least a 75% concentration of calcium carbonate (CaCO3). Although there is no specific cutoff grade for aggregates, we distinguish recoverable aggregates from waste by segregating the type of rock extracted from the quarry. The most common rocks used for aggregates production are granite, basalt, limestone, sand or gravel. Depending on the type of cement product, we require approximately 1.5 tons of limestone to produce one ton of clinker. On average, we require approximately 1.2 tons of limestone to produce one ton of cement product. In addition, on average, we required approximately one ton of rock to produce one ton of aggregates product. 45 Table of Contents Summary of our Mineral Reserves as of December 31, 2025 Proven mineral reserves Probable mineral reserves Total mineral reserves Amount Grades/ Qualities Amount Grades/ Qualities Amount Grades/ Qualities (Million Tons) (% CaO) (Million Tons) (% CaO) (Million Tons) (% CaO) Limestone: Doña Amalía 47.9 44.0 56.2 44.6 104.1 44.2 Piedras Blancas(2) — — — — — — Salitral (El Salitral - Cerro Bayo -Norte) 39.7 44.1 48.4 43.7 88.0 43.8 Barker 43.3 46.4 27.0 46.1 70.2 46.2 La Pampita y Entorno(1) (Don Gabino – Los Abriles – SASII) 571.6 47.4 35.3 47.1 606.9 47.4 Cerro Soltero I — — 53.5 — 53.5 — Cerro Soltero II — — 111.6 — 111.6 — El Cerro — — 37.6 — 37.6 — Granitic aggregates: La Preferida 56.7 — 54.2 — 110.9 — * The Company used an average price of US$ 93 per tonne for the economic analysis. The average price of US$ 93 per tonne is based on the Company's technical report prepared for the fiscal year ended December 31, 2021. (1) Limestone is used for cement and lime production. 100% of the limestone received at the plant is used. (2) As to the date of this annual report, Piedras Blancas Quarry is closed and no further exploitation is expected. Individual Properties Disclosure La Pampita y Entorno Location and History The La Pampita y Entorno quarry extends over the mining operations of La Pampita, Don Gabino, Los Abriles, and San Alfredo Sur II, which are located in the district of Olavarría, Buenos Aires province. The quarry is located 20 kilometers to the southeast of the city of Olavarría, near the town of Villa Alfredo Fortabat. The region is generally characterized by nonmetal mining activity, including cement as well as aggregates and ceramics. The mining operations are carried out on land owned by Loma Negra since 1980. Exploration activity began that same year and has since been conducted discontinuously to date. Exploitation of the La Pampita mining property began in 1999. The San Alfredo Sur II, Los Abriles and Don Gabino mining properties are currently inactive and do not register any mining activities (i.e., they are entirely exploratory projects). In 2025, we did not conduct any exploration activity at the La Pampita y Entorno quarry. Our L’Amalí and Olavarría cement plant and La Pampita y Entorno mining operations are shown in the maps below. 46 Table of Contents L’Amalí and Olavarría Cement Plant Right Image — Lower right margin: Latitude: 37° 3'12.12"S, Longitude: 60°14'58.06"W. Top left margin: Latitude: 36°58'42.59"S, Longitude: 60°19'58.69"W. La Pampita y Entorno Mining Operations Right Image — Lower right margin: Latitude: 37° 4'52.25"S, Longitude: 60° 6'33.87"W. Top left margin: Latitude: 36°50'41.71"S, Longitude: 60°21'49.94"W. Infrastructure and Personnel The La Pampita y Entorno quarry has the necessary infrastructure for normal operations. Facilities for electric power, water supply, fuels, accesses, and roads have been installed. 47 Table of Contents La Pampita y Entorno has two primary ThyssenKrupp crushers. One sends limestone to L'Amalí plant through conveyor belts for further storage in two preheaters. The other primary crusher sends material either to the lime factory or to the secondary crusher. In the quarry, electrical energy is supplied through a 33 Kv line coming from the L’Amalí plant, and the plant is externally fed by a 132 KV line. There are seven electrical substations in the quarry. The fuel used for operational purposes is supplied to the contractor by a subcontractor. The water extracted from the quarry is used for irrigation, dust suppression sprinkler systems in crushers and belts, quarry services (buildings and restrooms) and for 100% of the water supply to the L’Amalí plant. Loma Negra’s personnel conducts its operations at La Pampita quarry with its own staff and contractors, including 18 employees and 114 outsourced staff of the contractor company. The majority of the La Pampita y Entorno quarry’s personnel comes from the town of Olavarría, adjacent to the quarry. There are also personnel from other regions of Argentina. Personnel are transported from the town of Olavarría to the quarry in buses and pickup trucks. Mining Concession Ownership and Area The mining producer registration (RPM) was granted by Resolution EX-2025 - 11821113 – GDEBA - DPGMMPCEITGP of the Undersecretary of Mining of Buenos Aires Province. The procedure to obtain a mining concession is established in Argentina’s Mining Code (as described below). We have the surface rights of the operation area in the La Pampita y Entorno quarry. Royalties The main statute that governs mining in Argentina is the Mining Code, which was enacted nationwide by Law No. 1,919 of 1886, as amended. We pay the mining canon for each concession on a bi-annual basis. Payment is equivalent to US$0.8 per hectare. The payment is made through regular banking channels. In the event that mining royalties are not declared or paid, penalties for infractions and default interest for non-compliance are incurred. However, failure to pay these fines will not result in the loss of the mining concession. We also pay a quarry exploitation fee. Municipalities establish certain taxes that may have incidence on mining developments. Each jurisdiction in which mining activities are developed has its legislation. For example, municipalities may charge a quarry exploitation quota equivalent to the amount of limestone contained in the cement dispatched or sold from the factory at a rate determined by each municipality. The rate is determined at a fixed amount, which is updated on a monthly basis. This amount represented 1.68% of sales in 2025 of cement, masonry cement and lime. Set forth below is additional information relevant to this property. Mining Activities The mining method is open pit mining, which consists of mining in a series of benches with pit expansion possible both vertically and laterally. The quarry generally proceeds top-down with a height of 10 meters. The materials are then loaded and transported to the primary crusher or waste dump by dump trucks. 48 Table of Contents The diagram below sets forth a block diagram of the mining process of the La Pampita y Entorno quarry. Diagram of Mining Process of the La Pampita y Entorno Quarry Cement Plants Our L’Amalí and Olavarría plants have been in operation for 24 and 99 years, respectively, and both use the limestone extracted from the La Pampita quarry in the manufacture of cement and lime. Our L’Amalí and Olavarría plants are located in Olavarría area. These plants are located two and five kilometers, respectively, from the La Pampita y Entorno quarry and receive raw materials from the La Pampita y Entorno quarry. Our plants produce various products for the construction industry, the main product being cement. Different types of cement are produced depending on their applications, using limestone, iron ore and clays as raw materials. Our Olavarría plant also produces lime as a product, using limestone as a raw material. The below figure shows the flow of cement production at the L'Amalí and Olavarría plants. L'Amalí and Olavarría plants process block diagram The below figure shows the flow of lime production at the Olavarría plant. 49 Table of Contents Olavarría plant process block diagram for lime production We believe that the equipment in operation at our L’Amalí and Olavarría plants is in optimal condition to avoid any interruption in cement and lime production. Maintenance and optimization of the equipment is carried out periodically and is supervised by our personnel. The equipment is in good condition and operational. Our L’Amalí and Olavarría plants have facilities such as maintenance workshops, warehouses, laboratories, administrative offices, and cement and lime production lines that support production. La Pampita y Entorno Quarry The La Pampita y Entorno quarry has been operating for 25 years. The material extracted from the quarry is exclusively used to supply our plants. The amount of limestone to be mined is planned annually as part of our overall mining plan. We believe that the equipment in operation at the La Pampita y Entorno quarry is in optimal condition to maintain continuity of operations. Maintenance and optimization of the equipment is carried out periodically and is supervised by the operator of the quarry. The equipment is in good condition and operational. Facilities The La Pampita y Entorno quarry has facilities such as offices, an electrical substation, a maintenance shop, a lubricant warehouse, a gas station, an oil tank, a guardhouse, a limestone field, a dining room, a laboratory, a truck scale, an ore belt, a loading tunnel, a meteorological station, a safety trench and a septic tank. The book value of L’Amalí and Olavarría cement plants and the La Pampita y Entorno quarry, taking into account all of the above factors, amounts to Ps. 1,001,186 million as of December 31, 2025. Property Encumbrances We do not make any payments with respect to any significant encumbrances for the L’Amalí and Olavarría plants, and the La Pampita y Entorno property. The La Pampita y Entorno mining operations currently have no outstanding payments with respect to infractions and penalties. Geology The La Pampita y Entorno quarry is located in the Tandilia System, a mountain belt which is geomorphologically composed of three main groups of small hill ranges surrounded by plains. The basement of the Tandilia System is made up of granitic complexes and sedimentary rocks of various ages. Calcareous formations are useful materials for the conformation of the raw material used in the cement industry. The contributions of CaCO3 from the calcareous levels allow a mining process suitable for the industry. The figure below shows the stratigraphic column of the area of the La Pampita y Entorno quarry, as well as a geological model of the quarry. 50 Table of Contents Geological Model of La Pampita y Entorno Quarry Reserves The table below sets forth the categories and quality of the mineral reserves of the La Pampita y Entorno operations. Summary of Mineral Reserves as of December 31, 2025 Amount Grades/ qualities Grades/ qualities Grades/ qualities Grades/ qualities Cut-off grades (Million Tons) (% SiO) (% Fe2O3) (% Al2O3) (% CaO) STC Proven mineral reserves 571.6 11.3 1.6 0.9 47.4 139.1 Probable mineral reserves 35.3 11.7 1.7 0.9 47.1 133.5 Total mineral reserves 606.9 11.3 1.6 0.9 47.4 138.8 Note: All reserves are estimated as quantities at cement plant. 51 Table of Contents For evaluation purposes, information from exploration activities from previous years has been used and is the database for the reserves model. The reserve estimation considered the quality restrictions of limestone received in L'Amalí and Olavarría cement plants, accessibility to the reserves, economic factors and modifying factors. A life of mine of 120 years has been calculated for the quarry, based on the exploitation of the last five years. Considering the maximum capacity of the plants supplied by the quarry, the life of mine would be 75 years. The following table includes a reconciliation of reserves at the end of the last two fiscal years. Reserves for the Last Two Fiscal Years Expressed in Millions of Tons* Reserves as of December 31, 2024 Reserves as of December 31, 2025 Discrepancy (Million Tons) Proven reserves 575.8 571.6 4.2 (1) Probable reserves 35.3 35.3 0 * The per-ton price assumed for the Mineral Reserves estimation in the economic model is 93 US dollars per ton. All reserves are estimated at cement plant. The average price is 93 US dollars per ton of cement, average of a 63-year projection, at nominal values. (1) The discrepancy of 4.2 million tons (1%) in the proven reserves corresponds to the lime consumption for the 2025 period. Development of the Property Activities Not applicable. Internal Controls for Reserves Disclosures We conduct annual operational governance, checking our mineral reserves and reviewing new production volumes and geologic aspects to maintain high safety standards and sufficient volume to guarantee our production without overburdening our activities. We have implemented controls and procedures designed for quality assurance and quality control on the company’s production activities and associated information for the estimation of mineral resources and reserves. The quality assurance and quality control measures are applied to quarry production and cement plant processing activities. We apply industry standards to evaluate the reliability of laboratory results that analyze exploration samples used in calculating mineral reserve estimates, which are then analyzed and verified annually by other business units within the company. Internal personnel also verify the data resulting from analysis prior to using it in their work. Additionally, we have implemented internal controls designed to ensure its mineral resources and reserves estimates are compliant with Regulation S-K Item 1300 requirements, including the preparation of reserve estimates by “qualified persons” and others on the matter in the different locations where we operate. Energy Sources We maximize the efficiency and flexibility of our operations by utilizing multiple energy sources in our production processes, which can be used interchangeably depending on price levels and supply adequacy, such as thermal energy and electrical power. Additionally, since the incorporation of the second line at the L'Amalí plant in 2021, which increased our capacity, we have been able to prioritize the operation of our kilns during periods when natural gas is widely available for industrial consumption at lower prices, minimizing the impact of higher winter costs. Regarding electricity consumption, 65.4% of our cement is produced in vertical mills, which feature superior technology compared to cement ball mills and enable us to achieve very low electrical consumption values. Energy is the largest single cost component in the production of cement and accounted for 19% of our total cost of sales in 2025 and 21% and 24% in 2024 and 2023, respectively. 52 Table of Contents Thermal Energy Thermal energy is our most utilized source of energy for our operations having accounted for 11% in 2025, 13% in 2024 and 16% in 2023, of our total cost of sales. Thermal energy is comprised of natural gas, mineral coal and petcoke, co-processing, and fuel oil (See “Co-processing”). Natural gas and petcoke are the most significant of these energy sources. Thermal energy cost is strongly impacted by the volatility of the price of natural gas and the international price of oil. Since 2006, we have diversified our fuel matrix in our main plants, so that we can optimize it at all times according to the cost of each energy source. This great versatility allows us to capture a very competitive price on the market. Historically, given the shortage of natural gas in wintertime the energy matrix of our kilns migrates to solid fuels. Currently, this flexibility to operate with different thermal energy sources, allow us to benefit from potential low thermal energy prices. In addition, our capacity surplus gives us more flexibility to manage our production scheme in order to minimize the impact of winter energy costs. To ensure the supply of gas, we entered into supply contracts, for different volumes and basins, with producers (including YPF and Pluspetrol), and marketers and distributors,such as Ecogas – Distribuidora de Gas del Centro S.A., Gas Meridional, Trafigura, Gas Patagonia and Camuzzi. All these contracts have expirations between April 2026 and 2028. In 2025, the Argentine Gas market is emerging as one of the fastest growing segments in the economy as a result of LNG export projects. Although it is premature, we expect this greater supply of gas will drive gas prices downward. The cost of petcoke varies in accordance with international market prices, which are quoted in U.S. dollars and fluctuate depending upon the supply and demand for oil and other refined petroleum products. Nevertheless, the incidence of solid fuels in our costs has been decreasing, since we reached a thermal matrix where natural gas prevails as the main source of thermal energy. Electrical Power Electrical power is one of the main drivers of our cost structure and represented 8% in 2025, 8% in 2024 and 8% in 2023, of our total cost of sales. Electrical power cost is highly influenced by the policy implemented for fuels used in electrical energy generation and by the growing share of thermal power generation in the electric matrix in Argentina. Currently, Argentina's energy system remains constrained by technical operating limits, particularly in transportation and distribution, due to a lack of investment. This is mainly a consequence of past government price policies focused on residential demand subsidies, which are still in place. In 2024, price signals were introduced that will contribute to strengthening the electrical system in the medium term. In addition, in 2025, as part of the electricity reform promoted by the Federal Government, the Secretariat of Energy issued Resolution 400/2025, which approves the rules for the normalization of the Wholesale Electricity Market (MEM, as per its acronym in Spanish). The MEM’s normalization process began on November 1, 2025 and provides for a gradual transition in which prices will float freely based on supply and demand, and the National Administrator of the Electric System (Compañía Administradora del Mercado Mayorista Eléctrico), or CAMMESA, will stop intervening in operations while maintaining its role as regulator. Although this reform is intended to introduce price signals and encourage private investment in the electric power sector, it may result in increased volatility in electricity prices. In Argentina, the energy demanded that equals the level of consumption in 2005 is marketed by CAMMESA, approximately 60% of our demand. Since 2005, it was possible to contract the rest of the consumption (approximately 40%) through private contracts. Since 2018, through Law No. 27,191, we were permitted to contract renewable energy for up to 100% of our demand. We have entered into annual contracts with Pampa Energía S.A. for the supply of approximately 35% of our current electrical power requirements. Additionally, in 2025 we covered 57% of our current electrical power requirements with renewable energy sources, overachieving the percentage stipulated by the Law No. 27,191. 53 Table of Contents Pursuant to the Law No. 27,191, consumers with a demand higher than 300kW are required to source a minimum level of their electrical power demand from renewable sources pursuant to the requirements set forth by the Law No. 27,191 equal to 8% by December 31, 2017, 12% by December 31, 2019, 16% by December 31, 2021, 18% by December 31, 2023 and 20% by December 31, 2025; provided that any consumption of renewable energy for higher levels as of each cut-off date cannot be reduced in the following periods. For purposes of complying with these minimum level requirements of renewable energy, the consumers have the option to enter into individual power purchase agreements (PPAs) with renewable energy generators, marketers or distributors, or to buy the energy through CAMMESA. We have also entered into contracts to enhance our use of green energy in a cost-efficient manner. In 2016, we signed a 20-year contract with Genneia S.A., in 2018, a 20-year contract with Aluar Aluminio Argentino S.A.I.C. and in 2025, a 5-year contract with Luz de Tres Picos S.A. and Generación Eléctrica Argentina Renovable I S.A. SDE PEO, which is expected to begin operating in September 2026. Through these contracts, we not only met the legal requirements but also exceeded them. In 2025, we signed additional short-term contracts that allowed us to achieve the aforementioned value. Co-processing Co-processing is the final disposal of waste (agricultural, urban and industrial waste) by its integration in the process of cement production as a secondary raw material or alternative fuel, as a source of energy. Co-processing is a technique used for permanently eliminating waste without generating environmental liabilities, harnessing the energy and/or mineral potential of the material. Co-processing uses duly prepared waste at different stages of the production process as a substitute for natural raw materials and/or fossil fuels. The replacement of fossil fuels and raw materials with waste provides us with a dual advantage: (1) it allows us to meet thermal needs and replace fuels derived from non-renewable natural resources in our production process; and (2) it presents a recognized benefit by disposing of waste that otherwise would have been deemed to be harmful and of environmental concern. This process is conducted safely, monitored and environmentally correct, with quality assurance of the cement produced. We have utilized the highest industry standards and technological advances in developing our co-processing operations to ensure safety and efficiency. In order to reinforce our commitment to sustainability, three of our plants are prepared for co-processing. The products we co-process are mainly municipal solid waste, or MSW, refuse-derived fuel, or RDF and hazardous industrial waste. At the end of 2019, we obtained the authorization to co-process the rejection of the urban waste, leading in Argentina the use of this waste stream in the co-processing. During 2020, we developed the use of new alternative fuel streams. In Buenos Aires, we are making progress with the co-processing of scrap tires, actively promoting the use of this type of waste in cement kilns. Sales, Marketing and Customers We are supported by a commercial, sales and marketing team of more than 64 people focused on attending our customers’ needs. This team includes the technical center Loma Negra, focused on quality control, research and development of new products and technical support for clients. We serve approximately 1,000 clients in Argentina through our dedicated sales teams. In the Greater Buenos Aires and the City of Buenos Aires area, our sales team is organized by customer category, namely distributors, concrete companies, industrial and construction companies, and public sector entities. Outside the Greater Buenos Aires and the City of Buenos Aires area, sales teams are organized by geographical region. We have long-term relationships with many of our customers, with approximately 65% of our customer base (representing over 68% of our total cement shipments) operating under long-standing, exclusive relationships. No single customer represents more than 6% of our total net sales, while our top 20 clients represented approximately 41% of total cement volume sold during 2025. We have also built a diversified customer base by sectors. Over the years, we have thoughtfully built a network of small- and medium-sized distributors throughout Argentina, and which we cultivate through a wide range of customer relationship programs, such as training and technical 54 Table of Contents assistance, aimed at improving loyalty and customer service quality. We believe that we have forged, over a long period of time, a strong client relationship based on prioritizing service and product quality. In 2025, 61% of our total cement sales were made directly to our wholesale distributors, 27% to concrete producers, 8% to industrial customers and 5% to construction companies and others. As a consequence of the activities in which we engage, our transactions do not have a significant cyclical or seasonal character. Nevertheless, during the second half of the year, historically the volume of sales in Argentina has shown a slight increase. Since our inception, we have developed and expanded our product range, tailoring different mixtures and product lines for a wide variety of uses and client needs. We provide our clients with customized construction solutions with superior quality, proven reliability and uniform performance. We believe that, by educating retailers and end-consumers of these attributes of our products, we have been successful in building demand and realizing higher margins for our differentiated product offering. Client Loyalty Throughout the years we have implemented a wide range of relationship programs focused on improving customer loyalty. Our average client is a medium-sized family-owned company mainly focused on the commercialization of cement, masonry and lime. We offer our customers technical support on a range of areas, including shops decoration, and even issues related to their business continuity. Technical Assistance We offer technical and post-sales support to customers, focusing on enhancing each customer’s capacity. In order to provide this service, we have several technical advisers who are available for different customer segments, technical visits, workshops, seminars and in site demonstrations. Marketing Efforts We are expanding the scope of our brand image strengthening campaign, adding more points of sale and improving the image of the distribution centers of our clients and consolidating the participation of our brand in the main soccer matches of the Argentine Championship, reinforcing our brand as a synonym of cement in Argentina. Distribution We have a distribution system aimed at providing the broadest product range in Argentina’s most important cement markets, particularly in the Greater Buenos Aires and the City of Buenos Aires area. Our strategy has been to base our sales and marketing efforts on our brand name recognition, broad product portfolio, customer service, efficient and timely delivery and technical support We divide our distribution platform into six regions: Buenos Aires, Central, Northwestern, Northeastern, Patagonia and Cuyo. Each of these regions is served by our production facilities. LomaSer, our mixing, distribution and logistics facility is the center of our Buenos Aires’ distribution complex, or the Buenos Aires Complex. Our Buenos Aires Complex serves the main market of the Greater Buenos Aires and the City of Buenos Aires area and provides backup supply to other regions in the rest of the country. The Province of Buenos Aires is our principal market representing 43% of our total volume sold in 2025. Our cement plants generally serve the geographic regions in which they are located. Sales of Cement in Argentina The table below shows our total market sales in each of Argentina’s regions as a percentage of total volume sold in Argentina in 2024, which is the latest annualized information available at the date of this annual report: 55 Table of Contents Region Sales Cumulative Sales (in percentages %) Buenos Aires 42 42 Center 23 65 Northwest 11 76 Northeast 8 84 Cuyo 8 92 Patagonia 8 100 ________________ Source: AFCP. Since December 31, 2021, AFCP does not publish sales information per region on a monthly basis. Additionally, as of the date of this annual report, AFCP had not published sales information for the year ended December 31, 2025. LomaSer is located approximately 50 kilometers from the City of Buenos Aires. Due to its close proximity to this important market and its mixing and bagging capacity, LomaSer enables us to respond quickly to our clients’ cement needs. For example, LomaSer has the capacity to deliver bagged or bulk cement to locations in the Greater Buenos Aires and the city of Buenos Aires area designated by its customers within 24 hours from the time a customer places its order. In addition, LomaSer is linked to our other production facilities via the Ferrosur Roca freight railway and is able to mix cement on-site that it receives from our other plants (L’Amalí, Barker and Ramallo). Argentina’s Central Region is mainly served by our Buenos Aires Complex. The Northwest area of the Patagonia region is served from our Zapala plant. The San Juan plant supplies demand from Cuyo, while Catamarca serves the Northwestern region of Argentina. The Northeast region is serviced by our Catamarca plant, through our Resistencia distribution center. The Litoral area is serviced through our Buenos Aires Complex and our Paraná distribution center. In addition, we operate the Ferrosur Roca freight railway network, which extends from the northeastern region of the City of Buenos Aires to several other regions of the country. Of the total distance of 3,100 kilometers that are part of this railway concession, approximately 2,000 kilometers are currently operational. We use the Ferrosur Roca freight railway network to ship our products and raw materials, as it is connected directly to five of our plants. In addition, third parties have access to this railway network in which we charge them freight railway fees to ship their goods. Note 5 to our consolidated financial statements discloses the sales breakdown for each of the last three fiscal years. Our Subsidiaries The following chart shows our principal subsidiaries, including our direct or indirect equity ownership interest in each of them and their main business activities as of the date of this annual report: Subsidiary Equity Ownership Interest (%) Main activity Ferrosur Roca S.A.(1) 80.00 Rail freight Recycomb S.A.U 100.00 Waste recycling ________________ (1)Indirect ownership (through Cofesur S.A.U., in which we have a direct 100% equity ownership interest). Below is a brief description of our principal subsidiaries, all of them incorporated in Argentina. Ferrosur Roca S.A. Through our subsidiary, Cofesur, we indirectly control Ferrosur Roca, a company that holds a concession to operate the Ferrosur Roca freight railway network, a 3,100 kilometer railway that runs from the northeastern region of the City of Buenos Aires to several other regions of the country and that is strategic to our business as it is linked directly to five of our plants (Ramallo, Olavarría, Barker, Zapala and L’Amalí) and also our LomaSer production and distribution 56 Table of Contents center. We own the total capital of Cofesur, which in turn owns 80% of the total capital of Ferrosur Roca. As of December 31, 2025, Ferrosur Roca had 975 employees. On March 8, 2018, Ferrosur Roca duly filed before the Ministry of Transport a request for an extension of the term of validity of the concession for ten more years. The Ministry responded on March 20, 2019, informing Ferrosur Roca that the Special Commission created by Decree No. 1027/2018 would be in charge of the renegotiation of the concession agreement, and that such process will include the analysis of the concession term extension in order to enable the implementation of the open access scheme. On November 3, 2020, the Ministry of Transport issued the Resolution No. 248/2020 to remove the Lobos-Bolívar railway branch of the General Roca line in the province of Buenos Aires (from km. 98,760 to km. 330,457) from the scope of the railway concession granted to Ferrosur Roca in 1992. In accordance with Resolution No. 211/2021, published in the Official Gazette on June 28, 2021, the Ministry of Transport rejected the extension of the term of the concession requested by different companies such as Ferrosur Roca. In that sense, Ferrosur Roca’s concession was due to expire in March 2023. Later on, the CNRT approved the registration of Ferrosur Roca as “Railway Operator” in the National Register of Railway Operators (ReNOF, as per its acronym in Spanish) by the enactment of Disposition No. 122/2022, published in the Official Gazette on February 25, 2022. Notwithstanding the above, on December 28, 2022, the Argentine Ministry of Transport issued Resolution No. 960/2022, extending the term of the concession by 18 months from March 10, 2023 to September, 2024. Such term was again extended by the Ministry of Economy on October, 2024 by means of Resolution No. 991/2024 until September 10, 2025. Subsequently, through Resolution 52/2025, the Secretariat of Transportation extended the concession term until September 10, 2026, or until a new railway concession for the General Roca line is awarded, whichever occurs first. According to Decree 195/2024, the Ministry of Economy is the authority entitled to participate in negotiations and modifications of public works and services contracts on railway infrastructures Law pursuant to No. 27,132. As of February 26, 2024, the Ministry of Economy is the new authority empowered to carry discussions or proceedings regarding the execution of Resolution 211/2021. We understand that, at the end of its concession, we will continue to provide the cargo transport rail services currently provided but as a cargo operator under the terms set forth in Resolution No. 211, Law No. 27,132, and Decree No. 1027 dated November 7, 2018, or any other business scheme that may be agreed with the competent authorities. We have reassessed all accounting estimates associated with the end of the current concession. No significant impact is expected to date. We will continue monitoring the new regulations as they come into effect, as well as the progress of ongoing negotiations with the National State and will record any related effect as soon as it is possible to make an estimate. See more information related to this issue in Note 36 to the consolidated financial statements as of December 31, 2025. See risk factor “Item 3.D. Key Information—Risk Factors—The early termination of our railway concession may have a material adverse effect on our business” for further information. Recycomb S.A.U. We own 100% of the total equity capital of Recycomb, a company that was founded in 1995. Recycomb operates a blending facility to use industrial waste and transform it into alternative fuel sources. This blending facility has an annual production capacity of 106,000 tons (30,000 tons of liquid waste-derived fuel, 36,000 tons of solids waste-derived fuel and 40,000 tons of shredded solids waste-derived fuel) and has been operational since the end of 1996. As of December 31, 2025, Recycomb had 36 employees. Information Technology We believe that an appropriate information technology infrastructure is important in order to support the growth of our business. Our data collection governance and software applications allow us to accurately monitor the processes at our various facilities, ensuring consistency and enabling us to adjust quickly in the event of any variations. Furthermore, our enterprise resources planning model and technology services allows us to develop production, sourcing and pricing models based on anticipated consumer demand. 57 Table of Contents In addition, we have license agreements involving intellectual property rights with several companies, such as Microsoft, SAP, Adobe and Aveva. Insurance We maintain insurance policies against damages to third parties, with coverage and conditions comparable to those of companies engaged in similar businesses in Argentina, respectively. We maintain insurance policies with reputable insurance companies, covering property loss and business interruption risks to our plants, equipment and buildings for partial or total damages or losses. The coverage for total loss or damage is for an insured value that we have established using as a reference the replacement value of each plant’s kiln, which is the main asset subject to risk, as we consider the total destruction of any of our plants as unlikely. For partial loss or damage, we are insured for the value at risk. As of December 31, 2025, the aggregate value at risk of our plants was US$ 1,711,993,607. These policies have a deductible of US$ 250,000 per claim. For loss of profit derived from material damages the coverage is 21 days. We have not made any material claims on our insurance policies in recent years. Sustainability and Social Responsibility With over 100 years of history, we are committed to creating long‑term value for our shareholders while operating responsibly and minimizing the environmental and social impacts of our activities. Sustainability is embedded in our business strategy and guides how we manage risks, operate our assets and engage with our stakeholders. Our environmental and social management is based on internationally recognized standards and aligned with global industry best practices. Through our Environmental Management System and integrated governance frameworks, we seek to ensure operational reliability, regulatory compliance and transparency in our performance. We focus on the continuous improvement of our operations, addressing material topics such as climate change, energy efficiency, circular economy, waste management, water stewardship and biodiversity protection. These efforts are aligned with our Climate Roadmap 2030 and support our long‑term objectives to promote sustainable growth and operational resilience. We regularly disclose our environmental, social and governance (ESG) performance through our Sustainability Report, which provides stakeholders with a comprehensive overview of our policies, management approach and progress. This disclosure reflects our commitment to ethics, transparency and the creation of sustainable value over time. The Loma Negra Foundation embraces the significant challenge of integrating community engagement with our business strategy. We strive to ensure the sustainability of the entire ecosystem through trust based alliances that positively impact the communities where we operate and enhance the well-being of our employees. We implement a model of active participation and joint action between the public and private sectors and social organizations. In addition, we promote the generation and strengthening of the installed capacities of the actors present in the communities (base development), promoting co-responsibility in the execution of initiatives. This collaborative framework promotes consensus building, prioritized action planning, and shared management with social entities, government agencies, academia, and businesses, each contributing their unique strengths and capabilities. Aligned with our Corporate Social Responsibility guidelines, the Private Social Investment model allows us to sustain the long-term development of programs in various communities in the country, based on different platforms for engagement and support. In line with the United Nations Sustainable Development Goals (SDGs), our programs directly address issues that impact the target communities. 1.Bridge Program: Our purpose is to increase considerably the number of young people and adults with the necessary skills, particularly technical and professional, to access employment and decent work. We contemplate two lines of action to achieve this: job skills and educational improvement. 2.Commitment Program: We promote the constitution of transforming alliances in the public, private and civil society spheres, actively involving our collaborators in the advocacy communities. We develop volunteer projects and initiatives for the development of social capital based on the institutional strengthening of grassroots organizations. 58 Table of Contents 3.Roots Program: We seek to contribute with policies aimed at the development of productive activities, decent job creation, entrepreneurship, creativity and innovation. We also encourage the formalization and growth of micro-enterprises through access to financial services, as well as the generation of inclusive businesses. 4.Transform Program: With a focus on habitat, we seek to mobilize the investment capacity of large companies in lucrative businesses, articulating alliances with NGOs and communities, with the aim of building innovative approaches aimed at creating opportunities for the base of the pyramid, offering innovative solutions to social, environmental and economic problems. The company's Sustainability Report for the year 2025 is available on our website at https://www.lomanegra.com/en/sustainability/. The contents of the company's website, including the Sustainability Report, are not part of or otherwise incorporated by reference into this annual report. For information related to the potential risks we are subject to due to changes to environmental requirements and the effects of climate change, see “Item 3. Key Information—Risk Factors—Risks Relating to Our Business and Industry—Climate change and climate change legislation or regulations may adversely affect our business.” Competition Cement Following the consolidation of the cement industry in Argentina during the 1990s, LafargeHolcim, an international cement company, through its acquisition of Juan Minetti S.A. and Corcemar S.A., two Argentine cement producers. Other Argentine cement producers include Cementos Avellaneda S.A., or Avellaneda, a company controlled by Cementos Molins, S.A. and Votorantim Cimentos S.A., and Petroquímica Comodoro Rivadavia S.A., or PCR. Given the high cost of transporting cement, our competitors are generally limited in competing in the regions where their production facilities are located. We are the only cement company in Argentina with production facilities located in several regions of Argentina and with nationwide reach. The chart below sets forth the estimated cement market share in Argentina during 2025 for our company, Cementos Avellaneda, Holcim Argentina and Petroquímica Comodoro Rivadavia. 59 Table of Contents Source: AFCP and Loma Negra. Each of Argentina’s main cement companies have developed market strengths in specific areas driven primarily by the location of their facilities and their geographic focus resulting from high transportation costs which limit their ability to compete effectively over long distances. We are the only Argentine cement company to have nationwide coverage, as our facilities are located throughout the country, with particular focus on Argentina’s most important market, the Province of Buenos Aires. Our cement plants generally serve the geographic regions in which they are located. Holcim Argentina S.A. has a strong market position in the provinces of Córdoba, Mendoza and Jujuy. In recent years, our main competitors executed investments to expand their production capacity. According to available public information, Holcim Argentina S.A. expanded the “Malagueño” plant, located in the province of Córdoba. In the case of Avellaneda S.A., a similar expansion in the “El Gigante” plant in the province of San Luis was completed in late 2020 and is operating. In December 2021 we inaugurated the second line of our L’Amalí plant, which allowed us to increase our capacity, adding approximately 3 million tons annually, and transforming L’Amalí into one of the largest cement plants in South America. Concrete We participate in the concrete market under our Lomax brand. We have operations in the two main concrete markets of Argentina: (1) the City of Buenos Aires and the Greater Buenos Aires area; and (2) the city of Rosario. The Olavarría region is the main supplier of granitic aggregates consumption for the Greater Buenos Aires and the City of Buenos Aires area. We also lead this dynamic and high potential growth market through a group of selected medium- and large-sized concrete companies that have been exclusive and loyal clients of Loma Negra for many years. Legal and Regulatory Matters Environmental Regulations We develop our business in a responsible and sustainable manner, with a commitment to continuous improvement of environmental performance, minimizing the environmental impacts of our operations and providing the maximum value for society. From the point of view of compliance, this vision includes respect for environmental legislation and good relations with our stakeholders. Regarding legal requirements, we have a system for identifying, updating and evaluating environmental requirements, which is managed through an online system in all our plants and business units. In addition, we have a registration and monitoring system for environmental inspections, notifications and presentations, where the requirements of the enforcement authorities in environmental matters are managed, including possible fines and sanctions, and where the presentations made by the company are also recorded, accrediting due compliance. In 2025, no significant monetary or non-monetary fines or sanctions were recorded for non-compliance with environmental laws or regulations. We define significant breaches as those that result in fines exceeding the amount of USD 1,000,000. Considering that emissions are one of the significant impacts of our activity, it is important to note that we implement Annual Environmental Monitoring Plans (PAM-A) and we hire environmental analysis and monitoring laboratories authorized by the environmental agencies in each jurisdiction, complying with all current regulations governing emissions and air quality to ensure the protection of the atmosphere and the environment. Mining Regulations We extract limestone from quarries that we own, and quarries owned by third parties. The main statute that governs mining in Argentina is the Argentine Mining Code, which was enacted by Law No. 1,919 of 1886, as amended. The Argentine Mining Code establishes that the ownership of mineral substances existing in quarries, including limestone, is exclusively vested in the owner of the land where they are located and that provincial laws will regulate the operation of quarries. The owner may mine the quarries existing in its land or leave them inactive. However, the federal, provincial or 60 Table of Contents municipal government where the quarry is located may declare that the exploitation of the mines is of public interest and expropriate the land where the quarries are located. Pursuant to the Argentine Mining Code, as amended by Law No. 24,585, which regulates environmental aspects of the mining activity, parties involved in certain mining activities are required to file, prior to the commencement of mining activities on a tract of land, an environmental impact evaluation report with the relevant regulatory agency for its approval. If approved, the relevant regulatory agency issues an environmental impact declaration, which must be renewed every two years. C.Organizational Structure The following organizational chart sets forth our simplified corporate structure as of the date of this annual report: ________________ (1)Loma Negra has an indirect ownership in Ferrosur Roca S.A. through Cofesur SAU, in which we have a direct 100% equity ownership interest. Cofesur SAU has a direct 80% equity ownership interest in Ferrosur Roca S.A. D.Property, Plant and Equipment Our Production Facilities As of December 31, 2025, we owned seven cement manufacturing plants in Argentina: Barker, Catamarca, L’Amalí / LomaSer, Olavarría, Ramallo, San Juan, and Zapala, eleven concrete plants operating under the Lomax brand and one granitic aggregates plant. 61 Table of Contents The following table sets forth information regarding our production facilities, as of December 31, 2025: Production Facility Type of Plant Location Commissioning Year Argentina: North-east: Resistencia Warehouse Resistencia 2013 Center-east: Barker Cement Benito Juárez 1956 L’Amalí Cement Olavarría 2001/2021 LomaSer Blending/Distribution Cañuelas 2000 Olavarría Cement Olavarría 1929 Ramallo Grinding Mill Ramallo 1998 Paraná Warehouse Paraná Patagonia: Zapala Cement Zapala 1970 Cuyo: San Juan Cement San Juan 1963 Mendoza Warehouse Palmira 2020 North-west: Catamarca Cement El Alto 1980 Salta Warehouse Salta 2020 Concrete plants under the Lomax brand: Don Torcuato Concrete Greater Buenos Aires area 1998 Sola Concrete City of Buenos Aires 1998 Llavallol Concrete Greater Buenos Aires area 1998 Uriburu Concrete Rosario 2010 Darsena F 1 Concrete City of Buenos Aires 2017 Darsena F 2 Concrete City of Buenos Aires 2018 Vicente Casares Concrete Greater Buenos Aires area 2018 Escobar Concrete Greater Buenos Aires area 2020 Fatima Concrete Greater Buenos Aires area 2023 Punta Alta - Movil Plant Concrete Buenos Aires Province 2024 MSU Rufino - Movil Plant Concrete Santa Fe Province 2024 Aggregates plant: La Preferida Aggregates Olavarría 2004 62 Table of Contents The map below presents the location of our facilities: Barker The Barker plant began operations in 1956 and is located in the City of Benito Juárez, Province of Buenos Aires. The Barker plant currently has total annual cement and filler production capacity of approximately 1.3 million, using one dry-process kiln. The Barker plant has capacity to produce cement and also produces filler, which is used for cement mixing by LomaSer. In the context of the L’Amalí expansion project, and considering the actual demand, during 2019 we decided to reconvert our Barker and San Juan plants, transforming both full cement lines into grinding and distribution centers, and we have adapted our cost structure to reflect this new scenario. Catamarca The plant of Catamarca began operations in 1980 and is located in the City of El Alto, Province of Catamarca. The Catamarca plant, which uses a dry-process kiln, has annual installed cement production capacity of 2.2 million tons. This plant has modern automation technology and is equipped with pre-heating equipment. It also features automated quality control systems, which enhance the reliability of its finished products. The Catamarca plant produces cement, as well as masonry cement. It serves the Province of Catamarca and certain neighboring provinces and regions. L’Amalí The L’Amalí plant is located approximately five kilometers from our Olavarría plant, Province of Buenos Aires, where our largest limestone reserves are located, and is connected to the Ferrosur Roca freight railway. This plant, which became operational in August 2001, has an annual installed production capacity of approximately 4.0 million tons of clinker and approximately 5.6 million tons of cement and complies with the highest standards of cement production technology and applicable environmental requirements. The plant uses natural gas and solid fuels, together with alternative fuels from Recycomb. See “ —Investments” for more information regarding the expansion of the L’Amalí plant. 63 Table of Contents The L’Amalí plant has mobile equipment to extract and crush limestone mined from a quarry located nearby. The quarry is linked to the plant by a conveyor belt transporting system. The L’Amalí plant has two kilns to produce clinker with a daily capacity of approximately 12,000 tons and cement production, storage and bulk loading capabilities. For the cement production, the plant has two ball mills of 135 tons per hour each one, and one vertical mill that produces approximately 500 tons per hour, as well as storage and bulk loading capabilities. The plant produces both bulk and bagged cement. The last one is packed in our new packing plant which has two production lines with a capacity of 4,500 bags per hour each one. The plant also produces base cement that is used by LomaSer as a raw material for its cement production and clinker that is used by our other cement plants. For additional information in relation to our mining operations at L'Amalí plant, see "Item 4.B. Business Overview—Mining Operations Disclosure (Mineral Reserves)—Individual Properties Disclosure." LomaSer LomaSer started operations in 2000 and it is located in the City of Vicente Casares, Province of Buenos Aires. LomaSer is our blending, distribution and logistics center and includes a cement mixing plant and distribution and logistics center. It is located approximately 50 kilometers from the City of Buenos Aires and is connected to our plants in the Province of Buenos Aires through the Ferrosur Roca freight railway. LomaSer’s proximity to Argentina’s principal cement market helps us to quickly respond to client needs, providing superior and reliable delivery services at competitive costs. It also allows customers to maximize fleet performance and minimize cement stock requirements. LomaSer receives base cement filler and slag from the L’Amalí, Barker and Ramallo plants, respectively. These materials are stored in a multi-cell silo with a total capacity of 18,000 tons. In addition, the plant has another multi-chamber silo with a capacity of 10,000 tons for storing finished products, as well as a storage capacity of 8,000 tons of palletized cement. It also has three bagging lines with a total capacity of 1.5 million tons. The silo feeds a mixer, which has an annual installed cement production capacity of approximately 2.2 million tons. The map below presents the location and connections among our facilities with LomaSer in the Greater Buenos Aires area, as well as the Ferrosur Roca freight railway network, which we use to ship our products and raw materials, as it is connected directly to six of our plants. (1)Railroad segment we actively use. 64 Table of Contents LomaSer has a flexible production facility that allows production to be switched rapidly between one type of cement to another. The ability to customize the blending according to each additions’ characteristic enables us to produce superior quality cement while optimizing the maximization of additions. LomaSer operates approximately 40% of our total cement dispatches. It ships cement in bags or in bulk depending on its customers’ needs. Olavarría The Olavarría plant began operations in 1929 and it is located in the City of Olavarría, Province of Buenos Aires. The plant currently has two active dry-process kilns with a kiln production capacity of approximately 0.4 million tons of lime, and a second kiln with an installed capacity of 1.0 million tons of annual production capacity of clinker and 1.7 million tons of annual production capacity of cement. The Olavarría plant produces cement, as well as masonry cement and lime. It principally serves the Buenos Aires region. For additional information relating to our mining operations at Olavarría plant, see "Item 4.B. Business Overview—Mining Operations Disclosure (Mineral Reserves)—Individual Properties Disclosure." Ramallo The Ramallo plant was inaugurated in 1998 and it is located in the City of Ramallo, Province of Buenos Aires. Ramallo produces cement and also mills slag that is used by LomaSer. This plant has annual cement installed production capacity of 0.5 million tons. We acquire slag from Siderar S.A.I.C., Argentina’s largest steel company, which is located near this plant. The Ramallo plant serves the northern portion of the Province of Buenos Aires and the Province of Santa Fe. San Juan The San Juan plant began operations in 1963 and it is located in the City of Rivadavia, Province of San Juan. It has an annual cement production capacity of approximately 0.4 million tons and uses a dry-process kiln. In 1993, a new facility was installed in this plant to enable it to store and process coal, enabling it to operate either using natural gas or a combination of natural gas, fuel oil and coal, together with liquid alternative fuels. The San Juan plant serves the Province of San Juan and certain neighboring provinces. In the context of the L’Amalí expansion project, and considering the actual demand, during 2019, we decided to reconvert our Barker and San Juan plants, transforming both full cement lines into grinding and distribution centers, and we have adapted our cost structure to reflect this new scenario. Zapala The Zapala plant began operations in 1970 and it is located in Zapala, Province of Neuquén. This plant has a dry-process kiln, with annual installed cement production capacity of 0.4 million tons and annual installed clinker production capacity of approximately 0.2 million tons. This plant is equipped with energy-efficient wheel-type roller grinding equipment used to grind the clinker before it enters the production process. The Zapala plant produces cement. It mainly serves the provinces of Neuquén and Río Negro and exports approximately 2% of its cement to Southern Chile. La Preferida In 2009, we commenced operations in the aggregates market in Argentina with our acquisition of La Preferida de Olavarría, which is located in the City of Olavarría, Province of Buenos Aires. In 2018, a new crusher started to operate. This plant has annual aggregates production capacity of 1.8 million tons. 65 Table of Contents We sell granitic aggregates through La Preferida de Olavarría, which is responsible for approximately 44% of the aggregates consumed by Lomax in their concrete production operations. Investments With the completion of the second line of the L’Amalí plant in December 2021, L’Amalí has become the largest cement plant in Argentina and one of the largest in Latin America, based on annual installed cement production capacity. With the finalization of this expansion project, capital expenditures decreased significantly. Our most recent material investment is to adjust our cement bags to the 25-kilogram format pursuant to Resolution 54/2018 of the Secretary of Commerce. In line with this initiative, we carried out an investment of approximately US$ 70 million in industrial infrastructure, aimed at adapting and upgrading our production processes. The project included the modernization of seven industrial plants. This milestone represents a significant shift in the Argentine construction industry, which has traditionally relied on 50-kilogram bags, and marks a transition toward safer operating conditions for construction workers. As of the date of this annual report, we have no other material investments in development or future material investments plans.