Holders of appreciation warrants and ADWs will receive an appreciation value equal to U.S.$2.041231 per appreciation warrant (U.S.$10.206154 per ADW) less any applicable Mexican withholding tax (as described below).
The appreciation value for each appreciation warrant represents the difference between U.S.$7.000977, the average closing price of Cemex’s Ordinary Participation Certificates (CPOs), each CPO representing two Series A Shares and one Series B Share of CEMEX, on the Mexican Stock Exchange for the five consecutive trading days ending today.
