Trinidad Cement Limited announced the execution of the Services and Intellectual Property Agreements (the Agreements) on January 21,2022, with various subsidiaries of CEMEX (CEMEX) according to the terms and conditions approved at the Company's Annual General Meeting of Shareholders on September 23rd, 2021. Under these agreements, TCL and CEMEX have established a general framework for the corporate services provided by CEMEX to TCL, as well as the payment of royalties for the use of intellectual property owned by CEMEX and licensed by TCL, for a fee which shall not exceed 4% of TCL's consolidated net sales. During the year 2022, the annual fee applicable to the Agreements shall be equal to 2% of the consolidated net sales of TCL, while the Company continues the process of integrating the CEMEX business models and know-how into its operations.

Through the execution of these Agreements, TCL will continue to benefit from and leverage CEMEX's know-how and best practices.