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Integrated Report 2014 Summary Version 2 VOTORANTIM CIMENTOS List of Contents

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Integrated Report 2014 Summary Version 2 VOTORANTIM CIMENTOS List of Contents INTEGRATED REPORT 2014 SUMMARY VERSION 2 VOTORANTIM CIMENTOS List of Contents BUSINESS MODEL 2 MANAGEMENT LETTER 8 PERFORMANCE HIGHLIGHTS FOR 2014 11 WHO WE ARE 12 MARKET CONTEXT 18 BUSINESS OVERVIEw 19 ECONOMIC AND FINANCIAL PERFORMANCE 36 FUTURE TRENDS AND PROSPECTs 37 REPORT PRODUCTION 38 CREDITS 39 Financial capital Intellectual and manufactured capital OUR VISION MATERIALITY Human capital Social and relationship capital Natural capital Our head-office is in Brazil and we have operations in 13 countries in the Americas, Europe, Asia and Africa. We speak many languages, Alternative sources of electrical Occupational health energy and fuel oils and safety with many accents but we are united in a single voice, a single team, with a common objective: to be a construction materials company 1 Ethics, transparency and integrity that is committed to customer success through excellence. 2 3 CO2 emissions 13 Air emissions (particulate OUR VISION Supply chain 12 Matter, NO , SO ) Extremely high management X X 4 Anti-corruption practices, Customer Empowered Best in Class Sustainable cartels and anti- competitive behavior Focus People Operations Practices Regulatory 5 6 7 Level of risks • We drive our decisions • We value and recognize • We constantly monitor • Safety first! importance 8 Economic performance: based on customer needs leaders who lead through our performance and of economic, economic value generated • We are trustworthy and distributed others – creating strong, are obsessed with environmental Community 9 • We develop innovative and ethical in our actions and social relations products & solutions diverse and engaged teams continuous improvement according to law and impacts Contribution to local development in partnership with our • We want people who have • We make decisions regulations 15 customers the autonomy to take action quickly and intelligently, • We promote eco- 10 Water consumption • We have all areas of and use the Integrated in a disciplined and efficiency through the use 14 Management System (IMS) to consistent manner Management and re-use the company focused on of innovative products, Customer 16 17 11 leverage performance of construction waste and improving customer service • We maximize practices and solutions satisfaction reverse logistics for used cement bags • We work together to productivity in all areas • We foster local dialogue Preservation of Government Energy develop creative solutions and relationships with biodiversity relations efficiency and make things happen communities to perpetuate High the Votorantim legacy High Level of importance for the decisions Extremely high and/or perceptions of stakeholders BUSINESS PILLARS RESEARCH MODEL AND PLANT INDUSTRIAL SALES AND CONSTRUCTION MINING INPUTS PROCESS LOGISTICS RESOURCES Investment Equipment Investment Equipment, labor, mineral Investment Labor Labor deposits, water, electrical energy, Equipment Land industrial waste from other Fuel Fuel production processes, by-products Labor Electrical Energy such as ash, slag. clay, ACTIVITIES GEOLOGICAL RESEARCH DIGGING GRINDING MILL cement STORAGE CUSTOMERS limestone PURCHASE OF concrete RESIDENTIAL RESEARCH AND DEVELOPMENT (R&D) DETONATING (calcite and materials for maintenance STORAGE SILOS MIXER aggregates TRANSPORT COMMERCIAL MARKET RESEARCH LOADING dolomite) and consumption, coal, other KILN COOLER complementary INDUSTRIAL PLANT CONSTRUCTION CRUSHING aggregates fossil fuels and chemical products (mortar, INFRASTRUCTURE lime, agricultural (sand and additives. PAVING STORING lime) gravel) AGRIBUSINESS RESULTS Removal of vegetation Impacts on the soil, Generation Use of waste and Noise and CO2 emissions biodiversity and communities of taxes from the industrial by-products as Noise acquisition of products alternative sources of Rehabilitation of degraded Truck traffic ENVIRONMENTAL Social and environmental education and services. energy and raw materials areas and biodiversity Archaeological and paleontological in the production process Generation of management preservation employment and incom SOCIAL Waste, CO2 emissions, Maintenance waste Rehabilitation of degraded areas other air emissions,effluents, impacts on the soil Generation of taxes from the ECONOMIC Financial compensation for sale of products and services Overloading of local infrastructure mineral exploration (CFEM) Positive impacts Generation of employment and i ncome Generation of employment and income Negative impacts Modernization of public administration Generation of taxes related to contracting of services during construction Financial capital Intellectual and manufactured capital OUR VISION MATERIALITY Human capital Social and relationship capital Natural capital Our head-office is in Brazil and we have operations in 13 countries in the Americas, Europe, Asia and Africa. We speak many languages, Alternative sources of electrical Occupational health energy and fuel oils and safety with many accents but we are united in a single voice, a single team, with a common objective: to be a construction materials company 1 Ethics, transparency and integrity that is committed to customer success through excellence. 2 3 CO2 emissions 13 Air emissions (particulate OUR VISION Supply chain 12 Matter, NO , SO ) Extremely high management X X 4 Anti-corruption practices, Customer Empowered Best in Class Sustainable cartels and anti- competitive behavior Focus People Operations Practices Regulatory 5 6 7 Level of risks • We drive our decisions • We value and recognize • We constantly monitor • Safety first! importance 8 Economic performance: based on customer needs leaders who lead through our performance and of economic, economic value generated • We are trustworthy and distributed others – creating strong, are obsessed with environmental Community 9 • We develop innovative and ethical in our actions and social relations products & solutions diverse and engaged teams continuous improvement according to law and impacts Contribution to local development in partnership with our • We want people who have • We make decisions regulations 15 customers the autonomy to take action quickly and intelligently, • We promote eco- 10 Water consumption • We have all areas of and use the Integrated in a disciplined and efficiency through the use 14 Management System (IMS) to consistent manner Management and re-use the company focused on of innovative products, Customer 16 17 11 leverage performance of construction waste and improving customer service • We maximize practices and solutions satisfaction reverse logistics for used cement bags • We work together to productivity in all areas • We foster local dialogue Preservation of Government Energy develop creative solutions and relationships with biodiversity relations efficiency and make things happen communities to perpetuate High the Votorantim legacy High Level of importance for the decisions Extremely high and/or perceptions of stakeholders BUSINESS PILLARS RESEARCH MODEL AND PLANT INDUSTRIAL SALES AND CONSTRUCTION MINING INPUTS PROCESS LOGISTICS RESOURCES Investment Equipment Investment Equipment, labor, mineral Investment Labor Labor deposits, water, electrical energy, Equipment Land industrial waste from other Fuel Fuel production processes, by-products Labor Electrical Energy such as ash, slag. clay, ACTIVITIES GEOLOGICAL RESEARCH DIGGING GRINDING MILL cement STORAGE CUSTOMERS limestone PURCHASE OF concrete RESIDENTIAL RESEARCH AND DEVELOPMENT (R&D) DETONATING (calcite and materials for maintenance STORAGE SILOS MIXER aggregates TRANSPORT COMMERCIAL MARKET RESEARCH LOADING dolomite) and consumption, coal, other KILN COOLER complementary INDUSTRIAL PLANT CONSTRUCTION CRUSHING aggregates fossil fuels and chemical products (mortar, INFRASTRUCTURE lime, agricultural (sand and additives. PAVING STORING lime) gravel) AGRIBUSINESS RESULTS Removal of vegetation Impacts on the soil, Generation Use of waste and Noise and CO2 emissions biodiversity and communities of taxes from the industrial by-products as Noise acquisition of products alternative sources of Rehabilitation of degraded Truck traffic ENVIRONMENTAL Social and environmental education and services. energy and raw materials areas and biodiversity Archaeological and paleontological in the production process Generation of management preservation employment and incom SOCIAL Waste, CO2 emissions, Maintenance waste Rehabilitation of degraded areas other air emissions,effluents, impacts on the soil Generation of taxes from the ECONOMIC Financial compensation for sale of products and services Overloading of local infrastructure mineral exploration (CFEM) Positive impacts Generation of employment and i ncome Generation of employment and income Negative impacts Modernization of public administration Generation of taxes related to contracting of services during construction RAW GRINDING MILL ZERO LOSS PRODUCTION AND APPLICATION PROGRAM ADDITIVES HARDENED CONCRETE POSITIVE IMPACTS DELIVERY METHOD: BULK BAGS CONCRETING CONSTRUCTION SOFT CONCRETE CIVIL CRUSHING WASTE ALTERNATIVE ADDITIVES FUELS GRINDING ADDITIVES FLOUR MILL AGGREGATES MINING CLAY ROTATING KILN ELECTRICAL ENERGY Concrete floor VERTICAL SAND HOMOGENIZATION CONCRETE LIMESTONE CLAY AND CALCITIC LIMESTONE KILN Concrete and AGGREGATES TRADITIONAL CRUSHED IRON ORE FUELS concrete blocks used LIMESTONE LIMESTONE BAUXITE in paving outdoors. WATER CEMENT CRUSHING GRINDING QUICKLIME WOOD MILL HYDRATION Concrete blocks They are precast and GRINDING MILL CLINKER CRUSHED used to build load- LIMESTONE MINERALS AGGREGATES
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