CRH PLC

Annual Report • Mar 14, 2025

CRH PLC

DIRECTORS' REPORT AND FINANCIAL STATEMENTS FINANCIAL YEAR ENDED DECEMBER 31, 2024

TABLE OF CONTENTS	PAGE
Forward Looking Statements	2
Directors' Report	3
Independent Auditors' Report	32
Consolidated Financial Statements	42
Consolidated Income Statement	42
Consolidated Statement of Comprehensive Income	43
Consolidated Balance Sheet	44
Consolidated Statement of Changes in Equity	45
Consolidated Statement of Cash Flows	46
Notes on the Consolidated Financial Statements	58
Parent Company Financial Statements and Notes	113
Non-Financial Report	118
Non-GAAP Reconciliation	141

Forward-Looking Statements

In order to utilize the "Safe Harbor" provisions of the United States Private Securities Litigation Reform Act of 1995, CRH is providing the following cautionary statement.

This document contains statements that are, or may be deemed to be, forward-looking statements with respect to the financial condition, results of operations, business, viability and future performance of CRH and certain of the plans and objectives of CRH. These forward-looking statements may generally, but not always, be identified by the use of words such as "will", "anticipates", "should", "could", "would", "aims", "may", "expects", "believes", "intends" or similar expressions. These forward-looking statements include all matters that are not historical facts or matters of fact at the date of this document.

In particular, the following, among other statements, are all forward-looking in nature: plans and expectations regarding demand outlook, growth and macroeconomic trends in CRH's markets, including government funding initiatives and priorities, supply-side dynamics, demand drivers and the effect of weather patterns on the foregoing; plans and expectations regarding strategy, value creation, growth opportunities, innovation and timing for completion of acquisitions and divestitures, as well as synergies from acquisitions and divestitures; plans and expectations regarding shareholders' returns, including the timing and amount of share buybacks and dividends; plans and expectation regarding CRH's corporate governance practices; plans and expectations regarding CRH's capital allocation, financial capacity, ability to meet upcoming liabilities, working capital, capital expenditures, upcoming debt maturities, and other liquidity requirements; plans and expectations regarding regulatory developments, International Financial Reporting Standards (IFRS) and International Financial Reporting Interpretations Committee (IFRIC) interpretations and their expected impact on CRH; plans and expectations regarding human capital, sustainability and climate change, including CRH's decarbonization targets, sustainability-related reporting, sustainability initiatives, the delivery of sustainable solutions, products, investments and related partnerships; and the plans and expectations regarding the potential impact and evolving nature of risk and CRH's management of such risks.

By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may or may not occur in the future and reflect the Company's current expectations and assumptions as to such future events and circumstances that may not prove accurate.

A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements, certain of which are beyond our control, and which include, among other factors: economic and financial conditions, including market turbulence, changes in interest rates, inflation, price volatility and/or labor and materials shortages; demand for infrastructure, residential and non-residential construction and our products in our geographic markets; increased competition and its impact on prices and market position; increases in energy, labor and/or other raw material costs; adverse changes to laws and regulations, including in relation to climate change; the impact of unfavorable weather; investor and/or consumer sentiment regarding the importance of sustainable practices and products; availability of public sector funding for infrastructure programs; political uncertainty, including as a result of political and social conditions in the jurisdictions CRH operates in, or adverse political developments, including the ongoing geopolitical conflicts in Ukraine and the Middle East; failure to complete or successfully integrate acquisitions or make timely divestitures; cyber-attacks and exposure of associates, contractors, customers, suppliers and other individuals to health and safety risks, including due to product failures. Additional factors, risks and uncertainties that could cause actual outcomes and results to be materially different from those expressed by the forward-looking statements in this report include the risks and uncertainties described under "Principal Risks and Uncertainties" of this document.

You are cautioned not to place undue reliance on any forward-looking statements. These forward-looking statements are made as of the date of this document. The Company expressly disclaims any obligation or undertaking to publicly update or revise these forward-looking statements other than as required by applicable law.

Directors' Report

The Directors submit their report and the audited Consolidated Financial Statements and related notes of CRH plc for the year ended December 31, 2024.

These Consolidated Financial Statements for the year ended December 31, 2024 are prepared in accordance with IFRS as adopted by the European Union (EU) and meet the reporting requirements pursuant to Irish company law. In addition to the Consolidated Financial Statements contained in this Annual Report, we also prepare an Annual Report on Form 10-K pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (SEC) and in accordance with accounting principles generally accepted in the United States (U.S. GAAP). The Annual Report on Form 10-K (under U.S. GAAP) is a separate document, a copy of which may be obtained from the SEC's website www.sec.gov.

Principal Activities

General

CRH plc (together with its consolidated subsidiaries, the "Company", "CRH", the "Group", "we", "us" or "our") is a leading provider of building materials that build, connect and improve our world. Since formation in 1970, CRH has evolved from being a supplier of base materials to solving complex construction challenges for our customers.

CRH's differentiated solutions strategy uniquely integrates materials, products and services across the construction value chain, better serving our customers' needs and driving repeat business while making construction simpler, safer and more sustainable.

The Company integrates essential materials (aggregates and cement), value-added building products as well as construction services, to provide our customers with complete connected solutions. CRH's capabilities, innovation and technical expertise enable it to be a valuable partner for transportation and critical infrastructure projects, complex non-residential construction and outdoor living solutions.

CRH's business addresses the needs of customers across infrastructure, non-residential and residential construction markets. Operating in 28 countries, the Company has market leadership positions in North America, Europe and Australia. The United States is expected to be a key driver of future growth for CRH due to continued economic expansion, a growing population and significant public investment in construction. Our International Division's businesses, which benefit from strong economic and construction growth prospects as well as recurring repair and remodel demand, are an important strategic part of the Company. CRH intends to continue to expand its North American and International operations given significant government support for infrastructure and increasing demand for customer-connected solutions in major infrastructure and commercial projects.

CRH has a proven track record in value creation through acquisition which over the last decade has accounted for approximately 60% of the Company's growth. We achieve this by acquiring businesses at attractive valuations and creating value by integrating them with our existing operations and generating synergies. The Company takes an active approach to portfolio management and continuously reviews the competitive landscape for attractive investment and divestiture opportunities to deliver further growth and value creation for shareholders.

CRH has a primary listing on the New York Stock Exchange (NYSE) and an international secondary listing on the London Stock Exchange (LSE) for its ordinary shares, each listing represented by the ticker symbol "CRH".

Customer-Connected Solutions

CRH's strategy integrates building materials, products and services by providing them to customers as complete solutions that solve complex challenges across the built environment.

Essential Materials

Essential Materials, consisting of aggregates and cement, are the foundation of CRH's strategy. Our vertically integrated businesses manufacture and supply these materials for use extensively in a wide range of construction applications, ranging from major road and infrastructure projects to the development and refurbishment of commercial buildings, private residences, public spaces and communities. Our deep materials and market knowledge, along with our extensive network of locations and assets, drive our performance and helps us deliver value to our customers. Customers typically range from national, regional and local governments to contractors and other construction product and service providers.

Road Solutions

CRH is a leading provider of solutions for sustainable road construction in North America and Europe. With our capabilities in manufacturing, installation, maintenance and circularity, we deliver a range of innovative solutions for our customers to better connect our communities, from major public highway infrastructure projects to residential roads, airports and parking lots. As responsible operators considerate of our environmental impact, we optimize the use of recycled materials in our paving services, thereby reducing waste, emissions and energy consumption. Fully integrated with our Essential Materials businesses, we have developed our Road Solutions offering to provide customers with quality, flexibility, speed, expertise and convenience through our deep market knowledge and highly capable team of professionals.

Building and Infrastructure Solutions

Our Building & Infrastructure Solutions connect, protect and transport critical water, energy and telecommunications infrastructure to help solve complex construction challenges. We integrate design, materials, products and engineering to enable the transition to a more sustainable and resilient built environment. Our products have a particular focus on the below-ground built environment where we are a leading provider of multi-material infrastructure that connects and protects the critical projects that enhance the daily lives of millions of people.

Outdoor Living Solutions

CRH's Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces. We help our customers in residential and commercial markets create unique outdoor settings by providing solutions for repair, remodel and new construction projects. Our business is closely connected to our customers through a broad geographic network as well as a comprehensive suite of products and services spanning hardscapes, masonry, fencing, railing, packaged lawn and garden products, pool finishes and composite decking. We place a strong focus on anticipating the needs of our customers and constantly strive to exceed their expectations. We do this by continually enhancing our offering through innovation, portfolio expansion and multifaceted collaboration.

Business Segment Information

During the fourth quarter of 2024, the Company's segments changed to three segments across two divisions. Refer to Note 2 "Segment Information" in the Consolidated Financial Statements on page 60.

Americas Division

CRH's Americas Division comprises two segments: Americas Materials Solutions and Americas Building Solutions. The North American market's positive fundamentals, including strong population growth and significant public investment in construction, is driving demand for CRH's connected portfolio of materials, products and services. Over several decades, CRH has established difficult to replicate, leading positions of scale across the United States and Canada. The Division employs approximately 47,400 people at 2,008 locations across 48 states of the United States and seven Canadian provinces.

Americas Materials Solutions

Americas Materials Solutions provides building materials for the construction and maintenance of public infrastructure and commercial and residential buildings in North America. The primary materials produced by this segment include aggregates, cement, readymixed concrete and asphalt. This segment also provides paving and construction services for customers.

The Americas Materials Solutions segment leverages our benefits of scale, strong market knowledge, deep industry expertise and extensive array of essential materials to implement CRH's strategy, offering value-added solutions which combine different types of materials, products and services to satisfy multiple customer needs. In turn, this enables CRH to provide a value-enhancing, differentiated experience, saving time and reducing logistical challenges for customers. Through this customer-connected approach CRH aims to reduce lead times and complexity, deepening relationships, driving repeat business and increasing the share of customer wallet spent on CRH products and services.

Vertical integration is a defining characteristic within this segment, enabling us to optimize production throughout the supply chain and to capture greater value. In order to support its operations, the Company has established a network of long-term reserves at quarry locations, predominantly adjacent to urban areas where demand for its materials and products is strongest.

Americas Building Solutions

Americas Building Solutions manufactures, supplies and delivers high-quality, value-added, innovative solutions for the built environment in communities across North America. Products in this segment are highly specified, designed and engineered thereby adding value for the customer. This segment serves complex critical infrastructure (such as water, energy, transportation and telecommunications projects) and outdoor living solutions for enhancing private and public spaces.

This segment analyzes market trends, including increasing urbanization, demand for more sustainable construction and evolving customer preferences to devise high-quality, effective building product solutions. CRH's ability to provide solutions which are tailored to the specific requirements of individual customer projects helps to drive competitive advantage and deliver sustainable growth in this segment.

International Division

CRH's International Division, which comprises one segment, International Solutions, is a leading provider of integrated building solutions primarily across Europe and Australia. During the fourth quarter of 2024, the former Europe Materials Solutions and Europe Building Solutions segments were combined into this International Solutions segment reflecting how the business is managed. In Eastern Europe and Australia we see higher-growth potential through strong economic activity, while in Western Europe, CRH's businesses operate in attractive markets backed by significant public infrastructure spending and regionwide programs that support construction activity. In these regions, CRH is experiencing increasing demand for its customer-connected solutions offering. The Division employs approximately 32,400 people at 1,808 locations across 27 countries.

International Solutions

International Solutions integrates building materials, products and services for the construction and renovation of public infrastructure, critical networks, commercial and residential buildings, and outdoor living spaces. CRH has established itself as a leader in its markets, enabling strong value creation through commercial excellence and performance improvement initiatives, while serving growing demand across the construction value chain for innovative and valueadded products and services.

Materials and Products

The following materials and products are produced and supplied by CRH's connected portfolio of businesses.

Aggregates

Aggregates are naturally occurring mineral deposits such as granite, limestone and sandstone. CRH extracts these deposits and processes them for sale as aggregates products such as crushed stone, sand and gravel. Typically, aggregates are used in road and rail infrastructure, building foundations and in the production of products including concrete and asphalt.

Cement

Cement is produced from limestone reserves and is the primary binding agent in the production of concrete products, including readymixed concrete and mortars, which are used extensively throughout the built environment.

Concrete

Concrete is a highly versatile building material, comprised of aggregates bound together with cement and water. Readymixed concrete is the most commonly used form of concrete. It forms the foundations of buildings and homes, roads, tunnels and bridges, water management systems and clean energy structures. While readymixed concrete is supplied to customers for on-site casting, CRH's infrastructural concrete businesses produce and supply precast and pre-stressed concrete products such as floor and wall elements, beams and vaults, pipes and manholes. These products are delivered to, and assembled at, construction sites where they are used throughout the modern built environment.

Asphalt

Asphalt consists of aggregates bound together with bitumen and is widely used as a surface material in roads, bridges, airport runways, sidewalks and other amenities. In recent years, the use of recycled materials in asphalt has increased considerably. Using materials from existing road surfaces to produce new asphalt reduces the demand for virgin material, extends the life of our aggregates reserves and contributes to reducing the carbon footprint of the product. Recycled Asphalt Pavement (RAP) and Recycled Asphalt Shingles (RAS) are used extensively by CRH businesses to produce new asphalt products for road and other surfaces.

Building Products

CRH's strategy of vertical integration utilizes our essential materials to produce a range of value-added building products and solutions. These include the manufacturing of concrete and polymer-based products such as underground vaults, drainage systems, enclosures and modular precast structures which are typically supplied to the water, energy, telecommunications and railroad markets. CRH also provides a range of engineered steel and polymer-based anchoring, fixing and connecting solutions for a variety of new-build construction applications.

Further, CRH manufactures a variety of concrete masonry, hardscape and related products including pavers, blocks and curbs, retaining walls and slabs. CRH also produces fencing and railing systems, composite decking, lawn and garden products and packaged concrete mixes. These products are supplied to residential, commercial and do-it-yourself (DIY) construction markets.

Key Trends and Opportunities

Key trends affecting the development of CRH's businesses include:

• Population growth and urbanization driving increasing demand for construction;
• Economic development and further investment in infrastructure, commercial and residential projects; and
• Recurring need to repair, maintain and upgrade the built environment as existing buildings and infrastructure age and wear.

In addition, there are several industry-specific trends that are shaping how CRH evolves to meet the needs of its customers:

• Unprecedented levels of funding support for critical infrastructure and the onshoring of manufacturing activity;
• An evolving regulatory landscape driving increasing customer demand for innovative, connected solutions to deliver a more resilient and sustainable built environment; and
• Supply-side dynamics, such as labor constraints, driving increasing investment in automation, technology and digital solutions.

Business Review

Results of Operations

Revenue is derived from a range of products and services across three segments. The Americas Materials Solutions segment utilizes an extensive network of reserve-backed quarry locations to produce and supply a range of materials including aggregates, cement, readymixed concrete and asphalt, as well as providing paving and construction services. The Americas Building Solutions segment manufactures, supplies and delivers high-quality building products and solutions. The International Solutions segment integrates building materials, product and services for the construction and renovation of public infrastructure, critical networks, commercial and residential buildings, and outdoor living spaces.

The table below summarizes CRH's Consolidated Income Statement for the periods indicated.

Consolidated Income Statement data		For the years ended December 31
in \$ millions	2024	2023
Revenue	35,572	34,949
Cost of sales	(22,947)	(22,919)
Gross profit	12,625	12,030
Operating costs	(7,751)	(7,743)
Operating profit	4,874	4,287
Gain on divestitures	208	–
Profit before finance costs	5,082	4,287
Finance costs	(607)	(457)
Finance income	143	206
Other financial expense	(60)	(54)
Loss from equity method investments	(108)	(17)
Profit before tax	4,450	3,965
Income tax expense	(1,076)	(941)
Profit for the financial year	3,374	3,024
Basic earnings per Ordinary Share	\$4.90	\$4.32
Basic earnings per Ordinary Share - pre-impairment1	\$5.31	\$4.62
Adjusted EBITDA2	7,116	6,500

Revenue

Revenue was \$35.6 billion in 2024, an increase of \$0.6 billion, or 2%, compared with 2023, with resilient underlying demand in key end-use markets, continued commercial progress and contributions from acquisitions partly offset by lower activity levels in certain regions due to adverse weather and divestitures.1,2

For additional discussion on segment revenue, see "Segments" section on page 7.

Gross profit

Gross profit was \$12.6 billion in 2024, an increase of \$0.6 billion, or 5%, compared with 2023, reflecting revenue growth of 2%, with cost of sales in line with the prior year. The gross profit margin of 35.5% increased 110 basis points from 34.4% in the prior year, driven by commercial progress, ongoing cost control and operational efficiencies. Cost of sales were in line with the prior year as an 18% decrease in energy costs due to a decline in energy prices, lower activity levels and divestitures were offset by an increase in employment costs of 6% driven by wage inflation and increased headcount due to acquisitions.

Operating costs

Operating costs, which primarily comprise of haulage costs, employment costs, depreciation, depletion, amortization and impairment costs, and other selling and administration expenses, were \$7.8 billion in 2024, in line with 2023. Employment costs increased 9%, as a result of increased headcount from acquisitions and wage inflation, offset by lower impairment charges and divestitures. In 2024, the impairment was principally related to International Solutions where an impairment was recognized related to the Architectural Products reporting unit, driven by challenging market conditions.

Gain on divestitures

Gain on divestitures was \$208 million in 2024, while it was \$nil million in 2023.

Finance costs

Finance costs were \$607 million in 2024, an increase of \$150 million, or 33%, compared with 2023. The increase was primarily due to higher gross debt balances and increased interest rates.

Finance income

Finance income was \$143 million in 2024, a decrease of \$63 million compared with 2023, primarily due to lower levels of cash deposits.

¹ Basic earnings per Ordinary Share pre-impairment is a non-GAAP measure as defined on page 142.

² Adjusted EBITDA is a non-GAAP measure as defined on page 141.

Other financial expense

Other financial expenses were \$60 million in 2024, an increase of \$6 million compared with 2023.

Loss from equity method investments

In 2024, the loss from equity method investments was \$108 million, compared to a loss of \$17 million in 2023, primarily driven by the impairment in the Company's equity method investment Yatai Building Materials (YBM) in China, where market conditions remained challenging.

Income tax expense

The Company's tax rate is driven by the tax rates in jurisdictions in which the Company operates and the relative amount of income earned in each jurisdiction. Income tax expense for the following two-year period is shown below:

in \$ millions, except effective tax rate	2024	2023
Profit before tax	4,450	3,965
Income tax expense	(1,076)	(941)
Effective tax rate	24.2 %	23.7 %

The Company's income tax expense was \$1.1 billion for 2024, an increase of \$0.1 billion compared with 2023. The effective tax rate was 24.2% for 2024 compared with 23.7% for 2023.

Profit for the financial year

Profit for the financial year was \$3.4 billion in 2024, an increase of \$0.4 billion or 12%, compared with 2023. This result was primarily driven by higher gross profit along with higher gains on asset disposals and divestitures, which offset higher finance costs.

Earnings per ordinary share

Basic earnings per Ordinary share was \$4.90 per share for 2024, an increase from \$4.32 per share for 2023. Basic earnings per Ordinary share preimpairment 3 was \$5.31 for 2024 and \$4.62 for 2023.

Segments

During the fourth quarter of 2024, the Company's reportable segments changed to the following three segments: Americas Materials Solutions, Americas Building Solutions, and International Solutions; across two Divisions: CRH Americas and CRH International.

Within CRH's segments, revenue is disaggregated by principal activities and products and by primary geographic market. Business lines are reviewed and evaluated as follows: (1) Essential Materials, (2) Road Solutions, (3) Building & Infrastructure Solutions, and (4) Outdoor Living Solutions. The vertically integrated Essential Materials businesses manufacture and supply aggregates and cement for use in a range of construction and industrial applications. Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure projects. Building & Infrastructure Solutions connect, protect and transport critical water, energy and telecommunications infrastructure and deliver complex commercial building projects. Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.

The Company's measure of segment profit is Adjusted EBITDA, which is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, impairment charges, gain/loss on divestitures and unrealized gain/loss on investments, income/loss from equity method investments and substantial acquisition-related costs.

		Year ended December 31
	Revenue		Adjusted EBITDA		Adjusted EBITDA margin
	2024	2023	2024	2023	2024	2023
	\$m	\$m	\$m	\$m	%	%
Americas Materials Solutions	16,173	15,435	3,794	3,146	23.5 %	20.4 %
Americas Building Solutions	7,059	7,017	1,464	1,521	20.7 %	21.7 %
International Solutions	12,340	12,497	1,858	1,833	15.1 %	14.7 %
Total	35,572	34,949	7,116	6,500	20.0 %	18.6 %

3 Basic earnings per Ordinary Share pre-impairment is a non-GAAP measure as defined on page 142.

Americas Materials Solutions

Americas Materials Solutions' revenue was 5% ahead of the prior year as price increases and contributions from acquisitions offset lower activity levels which were impacted by adverse weather.

In Essential Materials, revenue was 5% ahead of the prior year, supported by aggregates and cement pricing, which were ahead by 10% and 8%, respectively. Aggregates volumes declined by 3% while cement volumes increased by 1% compared to 2023.

In Road Solutions, revenue increased by 5% driven by pricing progression and sustained activity levels through continued state and federal funding support. Asphalt prices increased by 3% while volumes, impacted by weather, declined 2% against 2023. Paving and construction revenue increased 5% versus the prior year. Readymixed concrete pricing was 6% higher than the prior year, while volumes were 1% ahead.

Adjusted EBITDA for Americas Materials Solutions of \$3.8 billion was 21% ahead of the prior year with growth across all regions. Positive pricing, disciplined cost management and operational efficiencies along with gains on land asset sales offset lower volumes in certain markets. Adjusted EBITDA margin increased by 310bps.

Americas Building Solutions

In 2024, Americas Building Solutions' revenue was 1% ahead of the prior year as positive contributions from acquisitions were partially offset by subdued new-build residential demand and adverse weather.

In Building & Infrastructure Solutions, revenue was 2% ahead of the prior year as contributions from acquisitions offset lower activity levels due to adverse weather conditions and subdued new-build residential demand.

In Outdoor Living Solutions, revenue was flat compared with 2023 as unfavorable weather conditions offset increased sales into the retail channel.

Adjusted EBITDA for Americas Building Solutions was 4% behind 2023 as adverse weather and subdued new-build residential demand impacted performance. Adjusted EBITDA margin was 100bps behind the prior year.

International Solutions

International Solutions' revenue was 1% behind the prior year as positive pricing momentum and good volume growth in Central and Eastern Europe were offset by lower volumes in Western Europe as well as lower trading activities in the Building & Infrastructure Solutions and Outdoor Living Solutions businesses.

In Essential Materials, revenue was 2% behind as continued pricing progress and contributions from acquisitions were offset by the divestiture of the European Lime operations. Aggregates volumes were 3% ahead of 2023 with cement volumes 5% ahead, supported by good growth in Central and Eastern Europe as well as recent acquisitions. Aggregates pricing was 4% ahead and overall cement pricing was 3% ahead of 2023.

In Road Solutions, revenue was 2% ahead of 2023. Volumes and prices were ahead in the readymixed concrete business by 8% and 3%, respectively, benefiting from volume growth in Central and Eastern Europe as well as acquisitions in the period. Asphalt volumes and pricing declined 2% and 1%, respectively. Paving and construction revenue was behind 2023 due to lower activity levels in Western Europe.

Revenue in Building & Infrastructure Solutions and Outdoor Living Solutions declined by 6% compared with the prior year, amid continued subdued new-build residential activity.

Adjusted EBITDA in International Solutions was \$1.9 billion, 1% ahead of 2023, primarily driven by increased pricing, lower energy costs and operational efficiencies. Adjusted EBITDA margin increased by 40bps compared with 2023.

Liquidity and Capital Resources

The Company's primary source of incremental liquidity is cash flows from operating activities, which combined with the year-end cash and cash equivalents balance, the U.S. Dollar and Euro Commercial Paper Programs, and committed credit lines, is expected to be sufficient to meet the Company's working capital needs, capital expenditures, dividends, share repurchases, upcoming debt maturities, and other liquidity requirements associated with our operations for the foreseeable future. In addition, the Company believes that it will have sufficient ability to fund additional acquisitions via cash flows from internally available cash, cash flows from operating activities and, subject to market conditions, via obtaining additional borrowings and/or issuing additional debt or equity securities.

Total interest-bearing loans and borrowings were \$14.0 billion at December 31, 2024, compared to \$11.6 billion in 2023. In January 2024, €600 million 1.875% euro Senior Notes were repaid on maturity. In May 2024, wholly-owned subsidiaries of the Company issued \$750 million 5.20% Senior Notes due 2029 and \$750 million 5.40% Senior Notes due 2034. In December 2024, the Company entered into and drew down a \$750 million two-year term loan at a fixed rate of 4.91%. During 2024, \$1.7 billion of commercial paper was issued across the U.S. Dollar and Euro Commercial Paper Programs. Net debt⁴ at December 31, 2024 was \$11.9 billion compared to \$6.8 billion in 2023. The increase in net debt⁴ between 2024 and 2023 reflects acquisitions, cash returns to shareholders through dividends and continued share buybacks, as well as the purchase of property, plant and equipment, partially offset by inflows from operating activities and proceeds from divestitures.

⁴ Net debt is a non-GAAP measure as defined on page 141.

Principal Risks and Uncertainties

In addition to the other information contained in this Annual Report, you should carefully consider the following risk factors before investing in our ordinary shares. The risks and uncertainties we describe below are not the only ones we face. Additional risks and uncertainties of which we are not aware or that we currently believe are immaterial may also adversely affect the business, financial condition and results of operations of the Company. If any of the possible events described below were to occur, the business, financial condition and results of operations of the Company could be materially and adversely affected. If that happens, the market price of our ordinary shares could decline, and holders of our ordinary shares could lose all or part of their investment.

This Annual Report also contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from those anticipated in these forward-looking statements as a result of various factors, including the risks described below and elsewhere in this Annual Report.

Risks Related To Our Industry And Our Business

Industry Cyclicality and Economic Conditions

CRH's business depends on construction demand, and construction activity is inherently cyclical and influenced by multiple factors, including global and national economic circumstances (particularly those affecting the infrastructure and construction markets), monetary policy, consumer sentiment, swings in fuel and other input costs, and weather conditions that may, individually or collectively, disrupt outdoor construction activity.

Given the nature of our core products, many of which cannot be transported on a cost-effective basis over long distances, our operations are particularly sensitive to the economic conditions in the local markets in which we operate. In general, economic uncertainty and rising interest rates can exacerbate negative trends in construction activity, including when current and/or prospective customers are unable to obtain credit or issue bonds, which can lead to the postponement, delay and/or cancellation of projects, and an associated negative impact on demand for building materials and related services. With a significant proportion of construction activity undertaken outside (e.g. highway construction), demand for and the utilization of the Company's products and services such as aggregates, asphalt and concrete can be highly seasonal in line with customer demand, and may additionally be impacted by acute and/or chronic changes in global and/or localized weather events/conditions.

In addition, CRH may also be negatively impacted by fluctuations in the price of fuel and principal energy-related raw materials, which accounted for approximately 10% of total revenue in 2024, compared to 11% in 2023, with no guarantee that the Company will continue to be able to absorb these inflationary pressures.

Government Infrastructure Spending

CRH's financial performance may be adversely impacted by reductions or delays in government infrastructure spending.

A significant percentage of the Company's products and/or services is consumed by public infrastructure projects, including the construction of highways, and bridges. Accordingly, demand for our products may be impacted by adverse changes in public policy, as well as the financial resources and investment strategy of government bodies in our markets. The allocation of government funding for public infrastructure programs is a key driver for our markets, such as the infrastructure elements of the IIJA in the United States, and large European infrastructure initiatives.

However, government budget deficits might reduce government infrastructure investment and reduce demand for the Company's products. Similarly, any significant delay and/or adverse change in investment strategy by policy makers in any of the Company's key markets could reduce market demand, adversely impacting financial performance.

Adverse Geopolitical Change/Environment

Adverse public policy, economic, social and political situations in any country in which the Company operates could lead to a number of risks including health and safety risks for the Company's people, a fall in demand for the Company's products, business interruption, restrictions on repatriation of earnings and/or a loss of plant access.

CRH primarily operates across North America, Europe and Australia. The economies of these countries in which we operate are broadly stable. However, they are at varying stages of development, which presents multiple risks and uncertainties that could adversely affect the Company's operations and financial results. These risks and uncertainties include:

• Changes in political, social or economic conditions;
• New or strengthened trade protection measures, currency controls or import or export licensing requirements;
• Political unrest and currency shocks;
• Social activism and civil disturbance, terrorist events or outbreak of armed conflict, among other potential causes;
• Labor and procurement practices which contravene ethical considerations and regulatory requirements;
• Unexpected changes in regulatory and tax requirements; and
• Lockdowns or other restrictions due to public health emergencies, such as pandemics.

In addition, CRH has people, assets and operations in Ukraine and neighboring countries, which face physical risk due to the ongoing conflict. The Board and management are actively monitoring the situation in Ukraine, as uncertainty continues to exist due to the ongoing conflict in the region.

Health and Safety Performance

CRH's businesses operate in an industry with inherent health and safety risks, including the operation of heavy vehicles, working at height, use of mechanized processes, and handling of substances and materials potentially hazardous to people, animal life and/or the environment. Any failure to ensure safe workplaces could result in a deterioration in CRH's safety performance and related adverse regulatory action or legal liability. Health and safety incidents could significantly impact CRH's operational and financial performance, as well as its reputation.

CRH's safety risks extend to sites not wholly within our control, including outdoor paving and construction sites. This environment presents a complex challenge which requires safe behaviors and engagement from employees as well as robust Company policies and procedures. A high number of accidents may pose additional challenges in recruiting new employees, ensuring operational continuity and maintaining licenses and permits.

Further, CRH is subject to a broad and stringent range of existing and evolving laws, regulations, standards and best practices with respect to health and safety in each of the jurisdictions in which it operates. Should CRH's health and safety frameworks, processes and controls fail to comply with such regulations, the Company could be exposed to significant potential legal liabilities and penalties. Any failure resulting in the discharge or release of hazardous substances to the environment (e.g. storage tank leaks, or explosions) could in addition expose CRH to significant liability remediation costs and/or penalties that impact our financial position.

In addition, potential issues with products could lead to health, safety and other issues for our broad range of stakeholders including our employees, contractors, customers and communities.

The recurrence of Covid-19 and/or similarly disruptive/dangerous pandemics could materially endanger our workers and/or contractors.

People Management

CRH may not achieve its strategic objectives if it is not successful in attracting, engaging, retaining and developing employees with the required skill sets, planning for leadership succession, developing an engaged and inclusive workforce, and building constructive relationships with collective representation groups.

The identification and subsequent assessment, management, development and deployment of talented individuals is of major importance in continuing to deliver on the Company's strategy and in ensuring that succession planning objectives for key executive roles throughout its international operations are satisfied. As well as ensuring the Company identifies, hires, integrates, engages, develops and promotes talent, the Company must attract and retain a broad workforce representing diversity of thought and perspective and maintain an inclusive working environment. Our ability to achieve these objectives depends on the availability of a pool of workers with the required training and skills, and the attractiveness of our employer value proposition compared with competing employers.

The Company operates in a labor-intensive industry and can face frontline labor shortages that impact its ability to produce goods, operate facilities and install products. Additionally, any significant loss of employee resources for a sustained period of time (e.g. due to sickness or a public health emergency) could impact the Company's ability to maintain operations.

The Company must also maintain constructive relationships with the trade/labor unions that represent certain employees under collective agreements. Failure to do so could mean that the Company cannot renegotiate on appropriate terms the relevant collective agreements upon expiration and may face strikes or work stoppages as a consequence. Poor labor relations could create reputational risk for the Company and/or disrupt our businesses, raise costs and reduce revenues and earnings from the affected locations, with potential adverse effects on the results of operations and financial condition of the Company.

Strategic Mineral Reserves and Permitting

Failure of CRH to maintain access to mineral resources and reserves, plan for reserve depletion and secure or maintain permits for its mining operations may result in operation stoppages, adversely impacting financial performance.

Continuity of the cash flows derived from the production and sale of certain building materials depends on satisfactory reserves planning, including appropriate long-term arrangements for their replacement. The high weight-to-price ratio of the aggregates we consume generally makes it uneconomical to transport them over long distances, and accordingly it is important to secure high quality mineral resources local to our markets or adjacent to appropriate logistical hubs (e.g. rail infrastructure). Any failure to adequately plan for reserve depletion, or accurately forecast future growth markets, could lead to a failure to maintain, and/or acquire and develop required sites, especially given long development lead times, and associated operational stoppages that adversely impact financial performance and cash flows.

Appropriate reserves are increasingly scarce, and licenses and permits required for operations are also becoming harder to secure (e.g. due to increasing resistance from communities that have expanded around potential attractive reserves). In addition, the Company cannot guarantee that it will continue to satisfy the many terms and conditions under which such licenses and permits are granted and/or renewed.

Reserve estimates and projections of production rates of the minerals used in the Company's products inherently contain numerous assumptions and uncertainties, that, for example, may depend upon geological interpretation, and statistical inferences or assumptions drawn from drilling and sampling analysis. If such interpretations, inferences or assumptions are subsequently proven incorrect and differ materially from actual geological conditions and/or production rates, we may exhaust reserves more quickly than anticipated over the long-term.

The failure to plan adequately for current and future extraction and utilization or to ensure ongoing compliance with requirements of issuing authorities could lead to operational disruptions and negatively affect our long-term financial results.

Climate Change and Policy

The impact of climate change may adversely affect CRH's operations and cost base and the stability of markets in which the Company operates. Risks related to climate change that could affect the Company's operations and financial performance include both physical risks (such as acute and chronic changes in weather) and transitional risks (such as technological development, policy and regulation change and market and economic responses).

Risks related to climate change that could affect the Company's operations and/or financial performance are discussed as follows:

Physical

Acute weather events such as hurricanes or flooding, and chronic events such as increased precipitation, rising sea levels and/or temperatures may have an adverse effect on the Company's business and operations. Operational productivity and demand for the Company's products may be reduced during these weather events leading to reduced financial performance. Changing population demographics and other macro events arising from climate change may also impact demand for our products in significantly affected areas.

Transition

• Legal and Regulatory: As stakeholder expectations with regard to climate change continue to evolve, and various governmental bodies in our markets propose changes to laws and regulations covering emissions, carbon allowances and taxation, we may be exposed to increased operational, compliance and litigation related risks and costs. Efforts to address climate change through laws and regulations, for example by requiring reductions in emissions of greenhouse gases (GHG) such as carbon dioxide (CO² ) can create economic risks and uncertainties for the Company's businesses. Such risks could include the introduction of more extensive carbon emissions caps and associated carbon costs, additional costs of installing equipment to reduce emissions to comply with GHG limits, and higher costs from the imposition of legislative and/or regulatory controls. There is a risk of reduced competitiveness due to any failure of equalization measures to level costs between domestic producers and importers from countries with lower enforced environmental regulations/GHG constraints.
• Technology: The Company has publicly set itself carbon emission reduction goals and ambitions, the delivery of which may depend on the rapid advancement of technologies, such as Carbon Capture Usage and Storage (CCUS), that are still in early prototype or development phases. If our assumptions as to technology development timelines and/or our ability to economically access them prove inaccurate, we may be unable to deliver our emissions targets.
• Reputational: Any failure to reduce emissions arising from our operations or meet investor and other stakeholder groups' expectations with regard to emissions reductions may adversely impact the Company's reputation and/or increase the likelihood of associated stakeholder litigation. In addition, the Company may incur materially increased costs related to increases in the cost of carbon, requirements to make further capital investments, reduced access to capital, challenges in retaining and/or attracting talent, local community opposition to operating facilities, and any inability to secure licensing permits.

Portfolio Management

CRH engages in acquisition and divestiture activity as part of active portfolio management, and this portfolio management activity presents risks around due diligence, execution and integration of assets. Additionally, the Company may be liable for liabilities of companies it has acquired or divested. Failure to efficiently identify and execute deals may limit the Company's growth potential and impact financial performance.

The Company's acquisition strategy depends on successfully identifying and acquiring suitable assets at prices that satisfy our stringent cash flow and return on investment criteria. The Company may not be able to identify such companies, and, even if identified, may not be able to acquire them because of a variety of factors including the outcome of due diligence processes, the ability to raise required funds on acceptable terms, regulatory approvals (including in certain instances from competition authorities) and competition for transactions from peers and other entities acquiring companies in the building materials sector. In addition, situations may arise where the Company may be liable for the past acts, omissions or liabilities of acquired companies, or may remain liable in cases of divestiture (including for potential environmental liabilities or potential on-going information technology (IT) support).

In addition, the Company's ability to realize the expected benefits from acquisitions depends in part on its ability to integrate newly-acquired businesses. If the Company fails to integrate acquisitions, it may not achieve expected growth synergies or financial, operating or other benefits, and it may incur write-downs, impairment charges or unforeseen liabilities that could negatively affect its operating results or financial position or could otherwise harm its business. Further, integrating an acquired business, products, or technology, or remediating post-acquisition underperformance and associated operational challenges, could divert management time and resources from other matters.

The Company may decide to use shares of its common stock to complete an acquisition and/or make strategic investments in other companies, which may dilute the ownership interests of existing shareholders and adversely impact the price of our stock.

Early Stage Business/Technology Investment

CRH's venture capital unit may fail to achieve expected commercial success and financial returns, and CRH may lose all or part of its investments in early-stage companies.

CRH, through its \$250 million Venturing and Innovation Fund, makes investments in early stage ventures focused on construction, sustainability and digitalization technology whose products and services may offer us future competitive advantage.

Investing in early-stage businesses and/or technologies presents inherent risks, with the potential that we may lose all or part of our investment if they fail to achieve anticipated strategic, technological and financial returns. If we realize losses on our venture investments, our results of operations and financial condition may be adversely impacted.

Sustainable Products and Innovation

If CRH fails to develop new sustainable products that meet customer needs, we may fall behind our competitors and our financial performance may be adversely impacted.

We operate in competitive markets with customers continuously pushing suppliers to deliver new, innovative products and solutions that enable them to work more efficiently, reduce their environmental footprint and realize greater cost savings. This is especially so in relation to changing customer preferences and demands for high-performance sustainability solutions with enhanced emissions and/or circularity profiles, including those with greater recycled content and/or innovations to existing products, that help them to deliver on their own climate and/or emissions-related commitments.

The failure to keep up with the pace of technological change may lead to increased operational costs and financial loss through the inability to supply products to customers who require innovative and low-carbon sustainable solutions. Failure to leverage innovation and other sustainability initiatives, for example transitioning to innovative lower-carbon products such as RAP, permeable paving solutions, lower-carbon cements and other high-performance sustainability solutions, may shorten product life cycles or give rise to early product obsolescence thus impairing financial performance and/or future value creation.

Commodity Products and Substitution

CRH manufactures and supplies a large number of commodity products into highly competitive markets. Failure by CRH to maintain pricing in an inflationary environment and to differentiate its products from its competitors could adversely impact our financial performance.

Many of the Company's products are commodities that face strong volume and price competition, with pricing impacted by macroeconomic conditions, the competitive environment, the degree of utilization of production capacity and the specifics of product demand, among other factors. In addition, the Company's local competitors are increasingly innovative and cost competitive, and our products may also face competition from substitute products, including new products, that the Company does not produce. Any significant shift in demand preference to these alternate products could adversely impact market share and results of operations.

The Company may experience downward pricing pressure from time to time across its different markets and may not always be able to raise prices to offset increased operating expenses and inflationary pressures. The Company's profits are particularly sensitive to changes in volume, as the cement business is capital-intensive and thus has significant fixed and semi-fixed costs.

Any failure to maintain strong customer relationships could result in an inability to respond to changing consumer preferences and approaches to construction. Failure to differentiate and innovate could lead to market share decline, with adverse impacts on financial performance.

Enabling Business Technology

CRH depends on multiple types of information and operational technologies, and failure to properly manage and maintain such technologies could adversely impact our ability to operate.

The Company makes significant capital investments in information and operational technology, and systems to promote operational efficiency and maintain competitive advantage. Some of these investments relate to complex, multi-year technology deployments that require specialist customization and project management to deliver expected value (including Enterprise Reporting Program (ERP) and industrial control systems deployments and upgrades). The Company maintains a complex operating environment in relation to both information and operating technology, that includes on-premises, hybrid and cloud technologies supported by a mixture of third-party outsourced service providers and internal resources. Any failure to properly manage the customization and/or deployment of these systems or this complex operating environment may result in additional costs being incurred, and/or delayed or eroded benefit realization. If we fail to make the required technological investments at the right time, we may lose competitive advantage and/or inhibit our ability to comply with evolving laws and/or regulations.

Given the specific nature of the technology that the Company implements, it often relies on the support of specialist third-parties; any failure to secure appropriately skilled and experienced third-parties may result in an increased risk of unsuccessful implementations, time delays and/or increased costs.

Major Business Interruption

CRH depends on the continued availability of people, production equipment, processes and systems, and our production could be materially disrupted by operational failures, which would have a negative impact on our profitability.

Given the capital-intensive nature of some of our product lines, with significant fixed and semi-fixed costs, the Company's profits are particularly sensitive to changes in volume, creating an exposure to any natural and/or human events that could disrupt production.

The ongoing, efficient operation of our facilities is often dependent on important pieces of equipment and IT networks/infrastructure. These can present single points of failure and can be difficult to quickly and/or easily replace due to long supply chain lead times and high associated capital costs. It is possible we could experience periodic disruption to equipment availability for a variety of reasons, including accidents, mechanical failures, fires/explosions and extreme weather conditions.

In addition to damaging equipment, extreme weather events could also disrupt operations through delaying project start dates, extending product curing times, and/or disrupting infrastructure on which we depend including power and water networks. In addition, the manual nature of some of our manufacturing processes and infrastructure projects, including highway construction and maintenance, creates a high level of dependency on our highly skilled workforce. Any event that materially inhibits our people from being able to work, including an inability to get to our facilities and/or customer sites or widespread sickness/pandemic, could materially disrupt our operations, with adverse impacts on financial performance.

Cybersecurity

CRH depends on multiple information and operational technology systems, including certain systems for which third-parties are in whole or in part responsible. We may be unable to protect our assets and data against increasingly sophisticated cybersecurity attacks. Security breaches, IT interruptions or data loss could result in significant business disruption, loss of production, reputational damage and/or regulatory penalties.

The Company has not been subject to a cyber-attack that has had a material impact on our operations or financial results. However, we have faced attempted cyber-attacks and may face future cyber-attacks, including malware or ransomware attacks, or suffer other human or technological errors that have a material impact. Breaches, significant IT interruptions or errors could disrupt production software, permit manipulation of financial data, and could lead to corruption or theft of sensitive data that we collect and retain about our customers, suppliers, employees and business performance. Following a material cybersecurity incident, the Company may incur significant remediation costs, may face regulatory proceedings and/or private litigation, and may suffer damage to our reputation and customer confidence in our operations.

Our businesses rely on information and operational technologies to support critical business processes and activities, and failures or breaches of such technologies could lead to production curtailment and/or other operational disruptions. We rely on specialist third-parties to provide many of our information and operational technology systems, and vulnerabilities within such third-party systems could have a material negative effect on us. The third-parties on whom we rely may themselves be affected by cybersecurity breaches or failures, which could lead to operational disruption or other negative consequences that could adversely impact our own business and financial condition.

In addition, the Company regularly engages in acquisition activity as part of its active portfolio management. Many newly-acquired companies rely on different information and operational technology systems to the rest of the Company and may not have cybersecurity protections comparable to those implemented throughout the existing Company. Integrating newly-acquired companies and assets and implementing appropriate cybersecurity controls may be more resource-intensive and time-consuming than anticipated. Failure to appropriately integrate new acquisitions into our cybersecurity and IT systems can lead to vulnerabilities and make our systems more complex to secure. Further, the global nature of our operations and diverse information and operational technologies used across the Company may result in potential delays in the detection and reporting of cyber incidents. In addition, as cybersecurity threats evolve, the Company is increasingly required to expend additional resources to enhance our cybersecurity protection measures and may be required to expend additional resources to investigate and remediate identified vulnerabilities.

Supply Chain Failure

CRH's ability to maintain production capacity and/or quality depends on the reliable and economic sourcing of various input materials, and failure to manage any material disruption in our supply chains could adversely impact our ability to service our customers and result in a deterioration in operational and/or financial performance.

The Company must reliably and economically source various raw materials, equipment and other inputs from many third-party suppliers and then transport finished products to satisfy customer demands and meet contractual requirements. Our ability to balance maintaining resilient supply chains with optimizing our working capital and inventory levels is critical to the continuity and strong financial returns of our operations. Any failure to manage any material disruption in our supply chains, including where we do not hold adequate buffer stocks and/or are unable to source adequate alternatives within acceptable timelines and at reasonable cost, could adversely impact our ability to service our customers and result in a deterioration in operational and/or financial performance, and reputational damage.

Some of the raw materials, equipment, transport and other inputs that the Company requires are limited to a small number of suppliers from which the Company can economically and/or practically source, which often have long lead times. Any of our suppliers may experience temporary, prolonged or even permanent operational disruption and/or capacity in the market may fall below required levels (e.g. for haulage capacity), which could have an adverse impact on the Company's operations, financial performance and reputation. In addition, in certain markets in which the Company operates, including markets for steel, cement, bitumen and supplementary cementitious materials, contracted market demand can far outstrip supply, which may restrict the Company's ability to obtain alternative suppliers or additional volumes where necessary. Our focus on responsible sourcing practices and other Environmental & Social Governance (ESG) considerations may also limit the pool of acceptable suppliers from which we may choose to source.

Construction Contracts

A number of our projects/contracts are complex, spanning multiple parties, years and/or products, and our future financial results may be adversely affected if we incorrectly forecast project budgets, deliver projects that do not meet contracted standards, or fail to deliver on time.

Across the Company's business lines, we enter into contracts for complex, multi-year projects that comprise multiple product lines and as such are exposed to inherent risks related to forecasting and budgeting, project management and delivery, and quality control.

Any failure to manage these risks may reduce the Company's profitability and/or damage its reputation, with associated impacts on our ability to bid for and/or win future contracts.

Risks Related To Financial, Regulatory And Reporting Environment

Laws, Regulations and Business Conduct

CRH is subject to a wide variety of local and international laws and regulations. CRH may face adverse operational and financial effects and reputational damage, including significant fines, debarment or other sanctions, due to litigation or investigations in connection with breaches or perceived breaches of such laws and regulations or otherwise. In addition, we are governed by the Irish Companies Act, which differs from laws generally applicable to U.S. companies.

As an Irish incorporated company, with a primary listing on the NYSE and an international secondary listing on the LSE, CRH must comply with a wide variety of local and international laws and regulations, including the Irish Companies Act, U.S. securities laws and regulations, NYSE listing requirements, the Market Abuse Regulation, the Disclosure Guidance and Transparency Rules, and other relevant legislation and regulation. The Company is also subject to various statutes, regulations and laws affecting land usage, zoning, labor and employment practices, competition/anti-trust, financial reporting, taxation, anti-fraud and theft, anti-bribery, anti-corruption, governance, data protection and data privacy and security, environmental, health and safety, and international trade and sanctions laws, among other matters.

There can be no assurance that the Company's policies and procedures will afford adequate protection against compliance failures or other fraudulent and/or corrupt activities. Any failure to comply with the requirements of any of these laws and/or regulations could have a material adverse effect on the Company's business, results of operations, financial condition, prospects and/or reputation, with resultant litigation or investigations, the imposition of significant fines, sanctions, debarment from operating in key markets, and/or reputational damage. Where subject to litigation, we establish reserves in line with the requirements of the relevant accounting standards, where there is a clearly defined past event, when the loss is assessed as probable and we can reasonably estimate the amount. These estimated reserves are based on the facts and circumstances known to the Company at the time of estimation and subsequent reporting and subsequent developments related to these matters may affect our assessment and estimates.

In addition, we are incorporated under Irish law, which treats interested director and officer transactions and shareholder lawsuits differently than the laws generally applicable to U.S.-incorporated corporations and our shareholders may thus have more difficulty protecting their interests than would shareholders of a corporation incorporated in a jurisdiction of the United States. As we are an Irish company, the duties of our directors and officers are generally owed to CRH plc. Our shareholders will generally not have a personal right of action against our directors or officers and in limited circumstances only may exercise rights of action on behalf of the Company.

Financial Instruments

CRH uses financial instruments throughout its businesses giving rise to interest rate and leverage, foreign currency, counterparty, credit rating and liquidity risks. A downgrade of the Company's credit ratings may give rise to increases in future funding costs and may impair the Company's ability to raise funds on acceptable terms. In addition, insolvency of the financial institutions with which the Company conducts business may adversely impact the Company's financial position.

Risks related to Company financing that could affect its operations and/or financial performance are discussed as follows:

Interest rate and leverage risks

As at December 31, 2024, the Company had outstanding gross indebtedness, including overdrafts, finance lease liabilities and the impact of derivatives, of approximately \$15.6 billion, compared to \$13.2 billion in 2023, and cash and cash equivalents of approximately \$3.7 billion, compared to \$6.4 billion in 2023. The Company uses interest rate swaps to manage its interest rate profile. While current leverage is low, acquisition activity could adversely impact operating and financial flexibility as well as financial position. There can be no assurance that the Company will not be adversely impacted by increases in borrowing costs in the future.

Foreign currency risks

If the Company's reporting currency weakens relative to the basket of foreign currencies in which Net Debt⁵ is denominated (including the euro, Pound Sterling, Canadian Dollar, Australian Dollar, Philippine Peso, Polish Zloty, and Swiss Franc), the Net Debt balance would increase; the converse would apply if the Company's reporting currency was to strengthen. Where economically feasible, Net Debt is maintained in the same relative ratio as capital employed to act as an economic hedge of the underlying currency assets.

Counterparty risks

Insolvency of the financial institutions with which the Company conducts business or a downgrade in their credit ratings may lead to losses in the cash balances that the Company holds with such financial institutions or losses in derivative transactions that the Company has entered into with these parties and may render it more difficult for the Company to utilize existing debt capacity or otherwise obtain financing for operations. The Company holds significant cash and cash equivalents on deposit and derivative transactions with a variety of highly rated financial institutions which at December 31, 2024, totaled \$3.7 billion and \$27 million, compared to \$6.4 billion and \$37 million, respectively, in 2023. In addition, certain of the Company's activities give rise to significant amounts receivable from counterparties at the balance sheet date; at December 31, 2024, this balance was \$4.4 billion and in 2023 this balance was \$4.1 billion.

Credit rating risks

A downgrade of the Company's credit ratings may give rise to increases in funding costs in respect of future debt and may, among other matters, impair its ability to access debt markets or otherwise raise funds or enter into lines of credit, for example, on acceptable terms. Such a downgrade may result from factors specific to the Company, including increased indebtedness stemming from acquisition activity, or from other factors such as general economic or sector specific weakness, Central Bank monetary policy, governmental fiscal policy or sovereign credit rating ceilings. In addition, any downgrade, suspension or withdrawal of one or more of our ratings could result in the market price, yield or marketability of our securities being adversely affected.

Liquidity risks

The principal liquidity risks stem from the maturation of debt obligations and derivative transactions. The Company aims to achieve flexibility in funding sources through a variety of means including; (i) maintaining cash and cash equivalents with a number of highly rated counterparties; (ii) meeting the bulk of debt requirements through debt capital markets or other term financing; (iii) limiting the annual maturity of such balances; and (iv) having surplus committed bank lines of credit. However, market or economic conditions may make it difficult at times to realize this objective. In addition, continued focus on climate change by investors and lenders may affect their preferences and sentiments, potentially impacting the Company's access to and cost of capital, and investment attractiveness.

Taxation Charge and Balance Sheet Provisioning

CRH is exposed to uncertainties stemming from governmental actions in respect of taxes paid or payable in the future in all jurisdictions of operation. In addition, various assumptions are made in the computation of the overall tax charge and in balance sheet provisions which may need to be adjusted over time. Changes in tax regimes or assessment of additional tax liabilities in future tax audits could result in incremental tax liabilities which could have a material adverse effect on cash flows and the financial results of operations.

The Company's income tax charge is based on reported profits and statutory tax rates, which reflect various allowances and reliefs and tax efficiencies available to the Company in the multiple tax jurisdictions in which it operates. The determination of the Company's provision for income tax requires certain judgments and estimates in relation to matters where the ultimate tax outcome may not be certain. The recognition of deferred tax assets also requires judgment as it involves an assessment of the future recoverability of those assets. In addition, the Company is subject to tax audits which can involve complex issues that could require extended periods to conclude, the resolution of which is often not within its control. Although management believes that the estimates included in the Consolidated Financial Statements and the Company's tax return positions are reasonable, there can be no assurance that the final outcome of these matters will equal the estimates reflected in the Company's historical income tax provisions and accruals.

As a multinational corporation, the Company is subject to various taxes in all jurisdictions in which it operates. Economic and political conditions, tax rates and the interpretation of tax rules in these jurisdictions may be subject to significant change, particularly during periods of administrative change or fiscal deficit. In addition, the Company's future effective income tax rate could be affected (positively or negatively) by changes in the mix of earnings in countries with differing statutory tax rates, changes in the valuation of deferred tax assets or changes in tax laws or their interpretation.

Finally, changes to international tax principles, for example at an EU level, could adversely affect the Company's effective tax rate or result in higher cash tax liabilities. If the Company's effective income tax rate was to increase, its cash flows and the financial results of operations could be adversely affected.

5

Foreign Currency Translation

A proportion of CRH's revenues are in currencies other than its reporting currency, and adverse changes in exchange rates could negatively affect retained earnings.

The principal foreign exchange risks to which the Consolidated Financial Statements are exposed pertain to (i) adverse movements in reported results when translated into the reporting currency; and (ii) declines in the reporting currency value of net investments which are denominated in a wide basket of currencies other than the reporting currency.

Given the geographic spread of the Company, a significant proportion of its revenues, expenses, assets and liabilities are denominated in currencies other than the Company's reporting currency, including the euro, Pound Sterling, Canadian Dollar, Australian Dollar, Philippine Peso, Polish Zloty, and Swiss Franc. From year to year, adverse changes in the exchange rates used to translate these and other foreign currencies into the reporting currency have impacted and will continue to impact consolidated results.

Goodwill Impairment

CRH may be required to write down its goodwill, which could have an adverse impact on the Company's retained earnings.

Significant underperformance in any of the Company's major cash-generating units or the divestiture of businesses in the future may give rise to a material writedown of goodwill. While a non-cash item, a material write-down of goodwill could have a substantial impact on the Company's retained earnings.

Goodwill and indefinite-lived intangible assets are subject to annual impairment testing, or more frequently if events or circumstances change in a manner that would more likely than not reduce the recoverable amount of a cash-generating unit below its carrying value. A detailed discussion of the impairment testing process, the key assumptions used, the results of that testing and the related sensitivity analysis is contained in Note 13 to the Consolidated Financial Statements on pages 75 to 77.

Accounting Estimates

CRH's financial reporting requires the use of accounting estimates for a number of significant items.

The accounting standards used in preparation of our audited Consolidated Financial Statements are complex and involve the making of significant estimates and assumptions in their interpretation and application that are inherently uncertain and/or require subjective judgments. In the event these assumptions and/or judgments prove incorrect or different values were to be applied (e.g. through the adoption of different methods of calculation), our reported financial results could be materially higher or lower. We make accounting estimates in relation to a wide range of matters that are relevant to our business, such as impairment of long-lived assets, impairment of goodwill, pension and other postretirement benefits, tax matters and litigation, including self-insurance and environmental compliance costs.

Any changes to accounting standards previously applied in the preparation of our audited Consolidated Financial Statements could affect future reported results compared with prior years, and/or see the revision of prior reporting where any retrospective application is required.

Self-Insurance

CRH may elect or be required to self-insure specific risk exposures, and failure or inability to obtain appropriate insurance coverage could result in increased insurance and claims costs that adversely affects our financial results.

CRH elects to self-insure up to certain limits through one or more of its wholly-owned captive insurance companies (captives). The Company's captives provide coverage in respect of multiple lines of insurance to the Company's operating and non-operating entities up to certain designated limits, both each-and-every and in the annual aggregate. Where insurable losses exceed those limits, CRH would need to rely on external insurance and/or reinsurance from global institutions of appropriate credit standing, and such external insurance and/or reinsurance may not be available at an appropriate cost or at all.

Risks Related To Our Common Stock

Payment of Dividends/Share Repurchase Program

CRH may not pay dividends or make other returns of capital to shareholders in the future, and our current share repurchase program may not enhance long-term shareholder value.

We cannot guarantee that we will pay or maintain dividends at their current level, or effect other future returns of capital (including, without limitation, share repurchases). Our ability to pay dividends or effect other returns of capital depends on factors such as our financial performance, cash flow requirements, business outlook, working capital requirements, interest expenses, economic climate, regulatory considerations, and any other factors deemed significant by the Board in exercising its discretion to return capital. In addition, under Irish law dividends may only be paid, and share repurchases and redemptions must generally be funded only, out of distributable reserves.

In addition, we cannot guarantee that our share repurchase program of our ordinary shares will be fully consummated or that it will enhance long-term shareholder value. The timing and actual number of shares repurchased/redeemed will depend on a variety of factors including the price, cash availability and other market conditions; the share repurchase program does not oblige us to repurchase/redeem any specific dollar amount or to acquire/redeem any specific number of shares, and may be suspended or terminated at any time, which may adversely affect the trading price of our ordinary shares. The existence of our share repurchase program could also cause increased volatility in the price of our ordinary shares or increase the price of our ordinary shares and thus reduce their liquidity. Additionally, repurchases and redemptions under our share repurchase program will diminish our cash reserves, which may adversely affect our financial position.

Relocation of Primary Listing

CRH faces risks associated with the relocation of our primary listing.

On September 25, 2023, CRH relocated the primary listing of its ordinary shares from the LSE to the NYSE. The Company has an international secondary listing on the LSE and accordingly our ordinary shares are now listed on both exchanges. As a result of the relocation of the primary listing CRH has ceased to be eligible for inclusion in certain UK and European equity indices.

Following the transition to the NYSE, CRH has been added to the MSCI USA Equity Index, the S&P TMI Index and the Russell 1000 Equity Index. The Company aims to be included in other relevant equity indices for which it believes it is eligible, including the S&P 500 Index. Inclusion is however at the discretion of the respective index providers. There is a risk that the Company may not be admitted, which may adversely affect the price and liquidity of the ordinary shares.

Focus on Climate Risks and Opportunities

CRH's Enterprise Risk Management (ERM) framework supports risk identification, assessment and reporting activities across CRH.

Using the Task Force on Climate-related Financial Disclosures' (TCFD) framework, CRH has considered climate risks and opportunities that could impact us in the short-, medium- and long-term covering all TCFD categories of transition and physical risks as well as opportunities; regulatory risks; market risks; physical environmental risks; innovative products and services opportunities; and resource efficiency, resilience, and market opportunities. We have assessed these factors qualitatively to understand the implications of different climate scenarios over different timeframes.

This analysis is described on pages 124 to 130.

Accounting Records

The Director's have appointed appropriate accounting personnel, including a professionally qualified Chief Financial Officer, in order to ensure that those requirements of sections 281 to 285 of the Companies Act 2014 are met. The books and accounting records of the Company are maintained at the Company's administrative head offices located at Stonemason's Way, Rathfarnham, Dublin 16, Ireland.

Dividends

CRH has paid dividends on its ordinary shares in respect of each fiscal year since the formation of the Company in 1970. Dividends are paid to shareholders on the Register of Members on the record date for the dividend.

In line with the Company's policy of consistent long-term dividend growth and supported by its strong financial position, the Board approved dividends totaling \$1.40 per share in respect of 2024, a 5% increase on the prior year (2023: \$1.33), broken into quarterly dividends of \$0.35 per share being paid on April 17, 2024, June 26, 2024, September 25, 2024 and December 18, 2024 respectively. It is proposed to pay a quarterly dividend of \$[0.37] per share on April 16, 2025 to shareholders registered at the close of business on March 14, 2025 in respect of the first quarter of 2025.

Dividends are paid wholly in cash. The default payment currency is U.S. Dollar for shareholders who hold their Ordinary Shares through a Depository Trust Company (DTC) participant. It is also U.S. Dollar for shareholders holding their Ordinary Shares in registered form, unless a currency election is registered with CRH's Transfer Agent, Computershare Trust Company N.A. in advance of the applicable record date. The default payment currency for shareholders holding their Ordinary Shares in the form of Depository Interests is euro. Such shareholders can elect to receive dividends in U.S. Dollar or Pound Sterling by providing their instructions to the Company's Depositary Interest provider, Computershare Investor Services plc, in advance of the applicable record date.

Events After The Balance Sheet Date

Details of a post-Balance Sheet event are outlined in Note 23 to the Consolidated Financial Statements on page 95.

Subsidiary Companies and Branches

Information regarding subsidiary undertakings, including information regarding branches, as at December 31, 2024 are listed on pages 136 to 139.

Political Donations

No political contributions that require disclosure by the Electoral Act 1997 were made during the financial year ended December 31, 2024.

Research and Development

CRH engages in ongoing research & development projects to improve existing and develop new technologies that will empower more sustainable forms of construction in the future. The Company's research initiatives include:

• A \$250 million Venturing and Innovation Fund to support the development of new technologies and innovative solutions. To date, research initiatives across the Company include hydrogen use, CO² mineralization projects, novel cements, artificial intelligence technology and Carbon Capture Usage and Storage (CCUS);
• CRH Ventures, the Company's venture capital arm, invests in, and partners with, construction technology and climate technology companies across the construction value chain to pilot and scale new technologies and innovations that will enable safer, smarter and more sustainable construction; and
• Innovation Center for Sustainable Construction (iCSC), CRH's global center of excellence provides expertise and leadership to identify and analyze global market and construction trends and new growth opportunities to maximize the value of sustainable innovation. The iCSC incorporates a global network of laboratories and experts at CRH's operating companies collaborating to advance research on sustainable building materials and processes, such as lowcarbon cement and concrete.

Through these initiatives, CRH is supporting the development of new technologies and innovative solutions to meet the increasingly complex needs of customers and evolving trends in construction.

Financial Instruments

CRH uses financial instruments throughout its businesses. A discussion of the use of financial instruments in the context of our financial risk management objectives and policies and our exposure to risk is contained in Note 21 to the Consolidated Financial Statements on page 90.

Future Developments

We expect positive underlying demand across our key end-use markets in 2025, underpinned by significant public investment in critical infrastructure, combined with increased re-industrialization activity in key non-residential segments. This backdrop is expected to support overall demand levels and further positive pricing across our business.

Our North American businesses expect continued positive momentum in infrastructure activity, supported by robust state and federal funding. Non-residential activity continues to benefit from secular tailwinds in key growth areas. Although the residential sector continues to be supported by strong long-term demand fundamentals, the new-build segment is expected to remain subdued while repair and remodel activity remains resilient.

In our International operations, we expect infrastructure activity to be underpinned by government and EU funding. Non-residential construction continues to be aided by onshoring of supply chains and industrial manufacturing activity. Residential markets are expected to stabilize with structural demand fundamentals supporting a gradual recovery.

Assuming normal seasonal weather patterns and absent any major dislocations in the political or macroeconomic environment, CRH's leading positions of scale in attractive higher-growth markets, together with our strong and flexible balance sheet, are expected to underpin another year of growth and value creation in 2025.

Transactions in own shares

During 2024 and 2023, a total of 15,872,321 and 54,900,928 Ordinary Shares (equivalent to 2.21% and 7.47% of the Company's issued share capital), were repurchased, respectively, by the Company at an average price of \$82.01 and \$54.92 per share under the share buyback program, respectively.

During 2024, 15,872,321 Ordinary Shares (equivalent to 2.21% of the Company's issued share capital) were redeemed on repurchase. During 2023, 17,620,740 shares of Treasury shares (equivalent to 2.4% of the Company's issued share capital) were redeemed.

On November 7, 2024, CRH commenced a further buyback tranche of \$300 million. This phase will end no later than February 26, 2025. The Board believes that the Company should retain the ability to buyback its own shares so that it can be used in the best interests of shareholders generally.

The Treasury share balance at December 31, 2024 was 40,968,909, equivalent to 5.7% of the Ordinary Shares in issue (2023: 41,205,490 (5.61%)). During 2024, 236,581 Treasury shares were reissued under the Company's employee share schemes (2023: 3,472,810).

Further information in relation to the Treasury shares is set out in Note 28 to the Consolidated Financial Statements on pages 105 to 106.

Details of the Company's employee share schemes and capital structure can be found in Notes 7 and 28 to the Consolidated Financial Statements on pages 66 to 67 and 105 to 106 respectively.

Non-Financial Information

The European Union (Disclosure of Non-Financial and Diversity Information by certain large undertakings and Groups Regulations 2017 (the Non-Financial Regulations)) requires CRH to provide certain non-financial information to investors and other stakeholders necessary to provide them with an understanding of the Company's development, performance, position and impact of its activity. This information has been provided in the Non-Financial Report on page 118, which is incorporated by reference and forms part of the Directors' Report.

Corporate Governance Statement

Corporate Governance Practices

CRH plc is incorporated in Ireland and is subject to Irish company law pursuant to the Irish Companies Act, 2014. CRH plc has a primary listing on the NYSE and an international secondary listing on the LSE.

CRH plc's primary governance obligations arise by virtue of its listing on the NYSE, and as such, CRH is subject to the corporate governance rules of the NYSE, requiring it to adopt certain governance policies (which CRH has adopted) and to the reporting and other rules of the SEC, which will require it to file an Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Forms 8-K and a Proxy Statement among other requirements.

The Board of CRH plc has adopted internal corporate governance guidelines (the 'Governance Guidelines') as a general framework to assist the Board in carrying out its responsibilities for the business and affairs of the Company. The Corporate Governance Guidelines, which represent the corporate governance code which CRH has decided to adopt are available on www.crh.com and cover the role of the Board and management, the composition of the Board, the structure and operations of the Board and the duties and responsibilities of the Board. The Governance Guidelines are deemed to be incorporated into the Directors' Report and form part of this Corporate Governance Statement for the purposes of DTR 7.2 of the Disclosure and Transparency Rules of the UK Financial Conduct Authority (FCA).

Governance Framework

A short illustrative summary of some of the key aspects of CRH plc's corporate governance structure is outlined below.

Board of Directors

Collectively responsible for promoting the long-term sustainable success of CRH and generating value for shareholders. Its role is to provide leadership; to establish and monitor CRH's purpose, values and strategy; to set CRH's risk appetite and ensure that there is a robust framework of prudent and effective controls to enable risks and opportunities (including those related to climate change) to be assessed and managed; and to ensure that there is effective dialogue with shareholders on all relevant matters.

The Board has established five permanent Committees to assist in the execution of its responsibilities. The charters of each Committee are available on the CRH website, www.crh.com

Acquisitions, Divestments & Finance Committee

Supports the Board by reviewing the strategic rationale and impact of proposed acquisitions, divestitures, large capital expenditure projects and advising the Board on the financial requirements of CRH and on appropriate funding arrangements.

Supports the Board by providing governance and oversight of CRH's financial reporting and monitoring and assessing CRH's risk management and internal control systems.

Audit Committee

Compensation Committee

Supports the Board by setting and ensuring that CRH's compensation policies are fair and responsible and that they incentivize and retain talent. The Committee also approves the compensation packages for the Chair and Chief Executive Officer and makes recommendations to the Board regarding the compensation for Executive Directors and senior executives.

Nomination & Corporate Governance Committee

Supports the Board by monitoring the Board's structure, size, composition and balance of skills to ensure that the Board can meet its strategic objectives and regulatory responsibilities. It is also responsible for monitoring corporate governance developments, human capital management and employee engagement.

Safety, Environment & Social Responsibility Committee

Supports the Board by monitoring and assessing performance in the areas of safety, climate change and sustainability and employee inclusion and engagement.

The Board has delegated responsibility for the management of CRH, through the Chief Executive Officer, to executive management

Chief Executive

The Chief Executive Officer has responsibility for the full day-to-day operational and profit performance of CRH and accountability to the Board for all authority delegated to executive management. He is also responsible for executing strategy agreed with the Board and reporting regularly on the progress and performance of CRH, including in relation to climate-related matters.

The Global Leadership Team supports the Chief Executive Officer in executing his responsibilities

Global Leadership Team

The Global Leadership Team is responsible for pursuing performance delivery and progressing CRH's integrated solutions and climaterelated strategy agenda.

Directors and Company Secretary

The Directors and Company Secretary of the Company as of December 31, 2024 are listed below and, except as noted, have served from the period of January 1, 2024 through to the date of this report.

Directors

Richie Boucher, Independent Chair and non-management Director Albert Manifold, Chief Executive Officer and Executive Director* Jim Mintern, Chief Financial Officer and Executive Director** Lamar McKay, Senior Independent Director and non-management Director Caroline Dowling, Independent non-management Director Richard Fearon, Independent non-management Director Johan Karlström, Independent non-management Director

Shaun Kelly, Independent non-management Director Badar Khan, Independent non-management Director Gillian L. Platt, Independent non-management Director Mary K. Rhinehart, Independent non-management Director Siobhán Talbot, Independent non-management Director Christina Verchere, Independent non-management Director

Company Secretary

Neil Colgan

* Retired as Chief Executive Officer and from the Board with effect from December 31, 2024. ** Assumed the position of Chief Executive Officer with effect from January 1, 2025.

Directors' and Company Secretary's Interests in Shares

The interests in the Ordinary Shares of the Company of the Directors and Company Secretary holding office as at December 31, 2024 are as follows:

	Beneficially Owned (i)
Name	December 31, 2024	December 31, 2023
Executive Directors
A. Manifold (ii)	87,083	86,883
J. Mintern	35,629	34,217
Non-management Directors
R. Boucher	23,300	23,300
C. Dowling	1,000	1,000
R. Fearon	140,000	50,000
J. Karlström	2,000	2,000
S. Kelly	4,000	3,000
B. Khan	2,500	1,000
L. McKay	4,000	4,000
G.L. Platt	1,157	1,133
M.K. Rhinehart	1,296	1,045
S. Talbot	5,550	1,550
C. Verchere	1,000	1,000
Company Secretary
N. Colgan	7,184	6,994
Total	315,699	217,122

(i) Excludes awards under the Company's share incentive schemes, details of which are outlined on page 20. The Directors and Company Secretary do not have any special voting rights.

(ii) Mr. Manifold retired as Chief Executive Officer and from the Board with effect from December 31, 2024.

Summary of Outstanding Share Incentive Awards

	Year of Award	Performance Period	Release Date	Market Value at Date of Award	Exercise Price	Balance at December 31, 2023	Granted in 2024	Released in 2024	Exercised in 2024	Lapsed in 2024	Balance at December 31, 2024	Dividends Awarded & Released	Market Value on Date of Exercise/ Released
Albert Manifold
Annual Bonus Plan (Deferred Share Awards) (i)	2021	01/01/2020- 12/31/2020	2024	€33.01	n/a	30,568	-	30,568	-	-	-	3,082	€75.81
	2022	01/01/2021- 12/31/2021	2025	€43.11	n/a	23,770	-	-	-	-	23,770	-	-
	2023	01/01/2022- 12/31/2023	2026	€36.44		n/a 28,892	-	-	-	-	28,892	-	-
	2024	01/01/2024- 12/31/2024	2027	\$79.51	n/a	-	20,557	-	-	-	20,557	-	-
2014 Performance Share Plan (ii)	2019	01/01/2019- 12/31/2021	2024	€29.86		n/a 186,106	-	186,106	-	-	-	29,470	€75.81
	2020	01/01/2020- 12/31/2022	2025	€33.10	n/a	172,509	-	-	-	-	172,509	-	-
	2021	01/01/2021- 12/31/2023	2026	€36.95	n/a	158,785	-	-	-	-	158,785	-	-
	2022	01/01/2022- 12/31/2024	2027	€38.08	n/a	158,310	-	-	-	-	158,310	-	-
	2023	01/01/2023- 12/31/2025	2028	€45.89	n/a	135,965	-	-	-	-	135,965	-	-
	2024	01/01/2024- 12/31/2026	2029	\$79.51	n/a	-	83,384	-	-	-	83,384	-	-
Jim Mintern
Annual Bonus Plan (Deferred Share Awards) (i)	2021	01/01/2020- 12/31/2020	2024	€33.01	n/a	4,393	-	4,393	-	-	-	443	€75.81
	2022	01/01/2021- 12/31/2021	2025	€43.11	n/a	7,837	-	-	-	-	7,837	-	-
	2023	01/01/2022- 12/31/2023	2026	€36.44	n/a	13,389	-	-	-	-	13,389	-	-
	2024	01/01/2023- 12/31/2024	2027	\$79.51	n/a	-	9,527	-	-	-	9,527	-	-
2014 Performance Share Plan (ii)	2021	01/01/2021- 12/31/2023	2024	€36.95	n/a	30,280	-	30,280	-	-	-	3,052	€75.23
	2022	01/01/2022- 12/31/2024	2027	€38.08	n/a	56,528	-	-	-	-	56,528	-	-
	2023	01/01/2023- 12/31/2025	2028	€45.89	n/a	48,549	-	-	-	-	48,549	-	-
	2024	01/01/2024- 12/31/2026	2029	\$79.51	n/a		- 29,774	-	-	-	29,774	-	-
2010 Savings Related Share Option Scheme	2019	n/a	2024	n/a	€24.24	1,247	-	-	1,247	-	-	-	€76.52

(i) The Compensation Committee has determined that dividend equivalents should accrue on deferred awards under the Annual Bonus Plan. Such dividend equivalents will be released to participants on the date of release of the Deferred Shares.

(ii) The Compensation Committee has determined that dividend equivalents should accrue on awards under the 2014 Performance Share Plan. Subject to satisfaction of the applicable performance criteria, such dividend equivalents will be released to participants in the form of additional shares on vesting.

Corporate Governance Guidelines

The Board has adopted Corporate Governance Guidelines (the "Governance Guidelines") as a general framework to assist the Board in carrying out its responsibility for the business and affairs of the Company. The Governance Guidelines, which are available on www.crh.com, cover the role of the Board and management, the qualifications and criteria that the Nomination & Corporate Governance Committee considers when considering Director nominees, the composition of the Board, the structure, operations, duties and responsibilities of the Board. The Nomination & Corporate Governance Committee keeps these guidelines under review and recommends any changes for approval by the Board.

During 2024, the Nomination & Corporate Governance Committee and the Board reviewed the Board's governance structures and determined that these are and continue to be appropriate for the needs of CRH, subject to a number of very minor amendments.

Board Leadership and Structure

The roles of Chair and Chief Executive Officer are not currently combined. The Board Chair is Richie Boucher, who is an independent non-management Director. Mr. Boucher was appointed to this role in January 2020 having joined the Board in March 2018. The Chief Executive Officer is Jim Mintern, who assumed the position with effect from January 1, 2025 following the retirement of Albert Manifold. Mr. Mintern has been a Board member since June 2021.

There is a clear division of responsibilities between the roles of the Chair and the Chief Executive Officer, which is set out in the Governance Guidelines.

The Board has appointed a Senior Independent Director, who chairs Board and Committee meetings in the absence of the Chair and who is available to shareholders who have concerns that cannot be addressed through the Chair, Chief Executive Officer or Chief Financial Officer. The normal term of appointment is for a period of two years, which is renewable. This position has been held by Lamar McKay since April 2022, whose terms was renewed for a further two years during 2024.

The Board regularly review the Board structure to ensure that it remains appropriate for CRH.

Director Independence

Pursuant to the NYSE listing rules, in order for a Director to qualify as "independent", the Board of Directors must affirmatively determine that the Director has no material relationship with CRH that would impair the Director's independence. Our Board's guidelines for Director independence conform to the independence requirements in the NYSE listing standards.

In addition to applying these guidelines, the Board considers all relevant facts and circumstances when making an independence determination, including all relevant transactions, relationships and arrangements among Board members, their family members and the Company.

With the exception of Mr. Manifold who retired as Chief Executive Officer and from the Board with effect from December 31, 2024, each of our Directors who served in 2024 will stand for re-election at the 2025 annual general meeting (AGM). Each of the Directors standing for re-election were determined to be independent under the foregoing requirements, except for Jim Mintern, who was not independent pursuant to NYSE rules because he is an executive employed by CRH.

Therefore, all members of the Audit, Compensation, and Nomination & Corporate Governance Committees are independent and meet all additional applicable independence tests of the NYSE listing standards and any additional standards imposed under U.S. securities laws and the rules and regulations of the SEC.

The Nomination & Corporate Governance Committee reviews the independence of each Director annually and makes recommendations to the Board regarding independence.

Tenure of Directors

All Directors serve a one-year term, except that the initial term for each Director shall run from the date of appointment until the next AGM, and are subject to election by shareholders at each AGM.

The Board does not believe that it should limit the number of terms for which a person may serve as a Director as they develop significant insights into the Company and its operations over time. Nonetheless, the Board keeps the tenure of Directors under regular review to ensure there is an appropriate focus on Board refreshment and mix of skills and expertise relevant to the needs of the Board and CRH. Directors with long tenure are subject to a rigorous performance review.

Diversity Policy

The Board is committed to ensuring that the Board (and the Audit, Compensation and Nomination & Corporate Governance Committees) is sufficiently diverse and appropriately balanced. This focus on balance and diversity in all its forms is reflected in its policy.

It is the policy of the Board that there is regular refreshment of the Board's Committees, which ensures to the extent possible that the overall experience and diversity of the Directors is reflected in the composition of the Committees and Chair roles, taking into account other requirements such as Board succession planning and the need for financial experts to be members of the Audit Committee.

Gender and Ethnic Inclusion

The FCA, in its capacity as the UK Listing Authority, requires listed companies to publish information on female and ethnic representation on the Board. The tables below outline the current gender and ethnic diversity of the Board and executive management as required by the UK FCA Listing Rules.

Required Standardized Numerical Disclosures as at December 31, 2024 (i)

Sex/Gender Representation

	No. of Board Members	% of the Board (ii)	No. of senior positions on the Board (CEO, CFO, Chair & SID) (iii)	No. in executive management (iv)	% of executive management
Men	8	62%	4	8	80%
Women	5	38%	-	2	20%
Not specified/prefer not to say	-		-	-	-

Ethnicity Representation

	No. of Board Members	% of the Board	No. of senior positions on the Board (CEO, CFO, Chair & SID)(iii)	No. in executive management(iv)	% of executive management
White British or other White (including minority-white groups)	12	92%	4	10	100%
Mixed/Multiple Ethnic Groups	-	-	-	-	-
Asian/Asian British	1	8%	-	-	-
Black/African/Caribbean/Black British	-	-	-	-	-
Other ethnic group, including Arab	-	-	-	-	-
Not specified/prefer not to say	-	-	-	-	-

(i) Albert Manifold retired as Chief Executive Officer and from the Board with effect from December 31, 2024. All information on the Board's and Global Leadership Team's gender identity and ethnic background was manually gathered.

• (ii) While the percentage of women Directors as at December 31, 2024 is just under 40%, reflecting the fact that Board renewal is a dynamic process, in the past five years this percentage has ranged from 33% to 50%. Following Mr. Manifold's retirement from the Board, the percentage of women Directors is now 42%.
• (iii) None of the senior positions of Chair, Chief Executive Officer, Chief Financial Officer nor Senior Independent Director is currently held by a woman.
• (iv) Figures reflect the current membership of CRH's Global Leadership Team, which is equivalent to the executive management disclosure requirements in Listing Rule 14.3.30R.

Process for Selection of Non-management Directors and Board Refreshment

The Board plans for its own succession with the assistance of the Nomination & Corporate Governance Committee. The process to identify, evaluate and appoint a non-management Director with the suitable experience, skills and time commitment takes into account both the needs of the Company and the diversity of experience and background, tenure and skills of existing Board members. The Nomination & Corporate Governance Committee welcomes candidates for non-management Directors recommended by shareholders and will consider these candidates in the same manner as other candidates. Shareholder recommendations for candidates for Director must include the same information as required by CRH's Articles for shareholder Director nominees and be sent to the Nomination & Corporate Governance Committee, c/o Company Secretary, 42 Fitzwilliam Square, Dublin 2, D02 R279, Ireland.

Non-management Director Appointment Process

• Non-management Director recruitment processes are supported by an external search firm;
• A skills matrix is maintained to identify particular skills that would enhance the Board or which might need to be replaced following planned Board retirements. The composition and skills of the Board is also reviewed as part of the annual Board evaluation process;
• Potential candidate lists are collated based on specifications agreed following input from the Nomination & Corporate Governance Committee;
• The Nomination & Corporate Governance Committee reviews candidate lists and selects individuals for interview; and
• Once a preferred candidate is identified other members of the Board are invited to meet with them prior to formal consideration of their appointment to the Board.

All members of the Board retire at the AGM, with those being eligible standing for re-election each year. The Nomination & Corporate Governance Committee and Board annually reviews the performance of each non-management Director, including his or her commitment to the role, whether he or she has sufficient time to meet his or her commitment to the Company and whether his or her skills remain relevant and beneficial to support the Board in fulfilling its duties, and makes a recommendation to shareholders in relation to their re-election.

Board Evaluation

The Nomination & Corporate Governance Committee is responsible for conducting an annual review of Board effectiveness, the composition of the Board, the operation and performance of the Chair, the Board and its Committees, and the effectiveness of Board communications. The Senior Independent Director, who is a member of the Nomination & Corporate Governance Committee, is generally delegated responsibility by the Committee to lead the evaluation process on its behalf. Periodically, the evaluation is supported by an external service provider.

The internal Board performance evaluation conducted in 2024 involved a series of one-to-one meetings, with a report of the feedback being considered by the Board. A number of minor suggestions were made in the report, including in relation to the composition of the Board and its Committees, the roles and responsibilities of Board roles, topics for in-depth strategic reviews and the areas of interest for Board site visits.

Director Orientation and Continuing Education

The Chair agrees a tailored and comprehensive orientation programme with each new non-management Director. New non-management Directors are provided with extensive briefing materials on the Company and its operations, the procedures relating to the Board and its Committees and their duties and responsibilities as Directors under legislation and regulations that apply to the Company.

Directors regularly receive copies of research and analysis conducted on the Company and the buildings materials sector, and receive relevant industry, economic, and geopolitical updates. Directors are provided with regular training on compliance and ethics matters, while updates in relation to other relevant matters, for example, changes in company law, are provided from time to time.

In addition, two Board site visits each year are leveraged to gain a detailed understanding of CRH's business model and strategy. The site visits in 2024 were to operations in the United Kingdom and Seattle.

Shareholder Engagement

Engagement with our investors helps us better understand their expectations for our financial and sustainability performance. Over the past 12 months, the Chair held meetings with shareholders holding approximately 40% of CRH's issued share capital on corporate governance matters, during which he outlined the Board's priorities and perspectives and sought to ascertain shareholders' views on a wide range of topics such as:

• The NYSE listing, including detail around the transition, improvement in brand awareness and the factors that influence U.S. index inclusion;
• Our strategy in our Americas and International Divisions and the success of our integrated solutions strategy;
• The safety and well-being of our people;
• Capital allocation policies and M&A priorities;
• Succession planning, and the process being followed at the senior management level;
• Board composition, and the areas of focus for refreshment following the U.S. listing; and
• The process to review our executive compensation structures, including the proposed structure of the new compensation framework effective from January 1, 2025.

The feedback from these meetings was provided to the Board and relevant Committees.

Employee Engagement and Organization Culture

The results from organizational health surveys are reported to the Board, while reports on the operation of CRH's Hotline are reported to the Audit Committee and Safety, Environment & Social Responsibility (SESR) Committee.

Executive Succession Planning

Long-term executive succession planning is an ongoing focus for the Board. The senior executive team and the full Board routinely consider potential candidates for senior leadership positions under a range of timelines and readiness scenarios. For internal executives, this includes the skills and expertise of the individuals and their development programs to support them in their career progression.

On January 1, 2025, Jim Mintern succeeded Albert Manifold as Chief Executive Officer.

For this succession process, the Board engaged Egon Zehnder to advise on and support the implementation of a rigorous program to select Mr. Albert Manifold's replacement. The process involved the Board considering the opportunities and challenges arising from potential changes in the external environment relevant to CRH in the next five to 10 years, and the likely evolution of CRH's strategy as a result, in addition to other factors such as CRH's current and desired culture, and the strengths and characteristics of the current leadership team. In this context, the Board determined the leadership role requirements and the qualities, capabilities and experience that CRH would require in our next Chief Executive Officer to support the continued success and growth of the company.

With a clear role specification in place, the Board established criteria for evaluating potential candidates. Internal candidates were assessed over several years while performing in their current roles, as well as against their individual development plans and then in the context of the Chief Executive Officer role. During the course of the process, Egon Zehnder regularly monitored the external market against the role specification and discussed with the Board, potential external candidates for consideration.

The program to assess internal candidates included structured interviews facilitated by Egon Zehnder, cognitive ability tests, the output of 360° exercises as well as feedback from external perspectives of the individuals gathered through a structured process. Selected candidates were required to develop a strategic plan and a transition plan which were presented and discussed with the non-management Directors, following which the Board made its appointment decision.

Mr. Manifold will continue as an advisor to CRH until December 31, 2025.

Executive Sessions

The independent non-management Directors meet periodically in executive sessions at scheduled Board meetings. They may have other special meetings throughout the year. These executive sessions are designed to promote candor and discussion of matters in a setting that is independent of Executive Directors. The Chair chairs each of these executive sessions.

Committees of the Board

The Board has established five permanent Committees to assist in the execution of its responsibilities:

• Acquisitions, Divestments & Finance;
• Audit;
• Compensation;
• Nomination & Corporate Governance; and
• Safety, Environment & Social Responsibility.

Ad hoc Committees are formed from time to time to deal with specific matters.

The responsibilities of each of the Board's Committees, which are summarized below, are set out in detail in their respective Charters which are available on the CRH website, www.crh.com.

Acquisition, Divestments & Finance Committee

Chair	Members	2024 Meeting Attendance	Primary Responsibilities
Richie Boucher	Caroline Dowling Richard Fearon Johan Karlström Shaun Kelly Badar Khan Albert Manifold Jim Mintern Siobhán Talbot Retired as Chief Executive Officer and from the Board with effect from December 31, 2024	4 of 4 4 of 4 4 of 4 3 of 4 4 of 4 3 of 4 4 of 4 4 of 4 4 of 4	• Consider and approve acquisitions and divestitures and large capital expenditure projects up to agreed limits; • Consider, at the request of management, the financial requirements of the Company and to agree with management appropriate funding arrangements; • Consider and make recommendations to the Board in relation to the issuance and buyback of shares and debt instruments and on the Company's financing arrangements, as appropriate; • As required, consider and make recommendations to the Board in relation to dividend levels on the ordinary shares; • Keep the Board advised on the financial (including taxation) implications of Board decisions in relation to acquisitions; • Approve guarantees related to bank financing provided by the Company up to certain limits; and • Assist management, at their request, in considering any financial or taxation aspects of the Company's affairs.
			Summary of Principal Activities in 2024
			The Committee met 4 times during 2024, with the key areas of focus being the consideration and approval of a number of acquisitions and divestitures, which further enhance the Company's customer-connected solutions strategy.

Audit Committee

Chair	Members	Meeting Attendance	Primary Responsibilities
Shaun Kelly Caroline Dowling Richard Fearon Badar Khan Siobhán Talbot Christina Verchere The Board has Experts" under relevant SEC rules		9 of 9 9 of 9 8 of 9 9 of 9 9 of 9 9 of 9	• Monitoring the integrity of the financial statements of the Company, its periodic filings under the Exchange Act, its annual report and financial statements prepared in accordance with Irish company law, earnings releases, and any other formal announcement relating to its financial performance, reviewing, and reporting to the Board on, significant financial reporting issues and judgments which they contain, having regard to the matters communicated to it by the auditor; • Monitoring the audit of the financial statements;
	ALL INDEPENDENT		• Reviewing and discussing the Company's annual and audited financial statements, quarterly financial statements and SEC filings that contain such financial statements with management and the independent auditor, including reviewing the Company's specific disclosures under "Management's Discussion and Analysis of Financial Condition and Results of Operations" in its annual and quarterly periodic filings with the SEC;
			• Keeping under review the effectiveness of the Company's internal financial controls and the risk management systems and reviewing and approving statements to be included in the Annual Report concerning internal control and risk management;
	determined that these individuals are "Audit Committee Financial		• Establishing procedures for: (a) the receipt, retention, and treatment of complaints received by the Company regarding accounting, internal accounting controls, or auditing matters and (b) the confidential, anonymous submission by employees of the Company of concerns regarding questionable accounting or auditing matters, or other violations of the Company's Code of Business Conduct (CoBC);
			• Reviewing the Company's arrangements for its employees to raise concerns, in confidence, about possible wrongdoing in financial reporting or other matters and reviewing the Company's procedures and systems for detecting fraud and preventing bribery;
			• Keeping under review the adequacy of the Company's compliance function;
			• Monitoring and reviewing the effectiveness of the internal audit function;
			• Reviewing the effectiveness of the audit process and the independence and objectivity of the external auditors;
			• Developing and monitoring the policy on non-audit services to be provided by the external auditor;
			• Approving the compensation and terms of engagement of the external auditor;
			• Making recommendations to the Board in relation to the appointment or removal of the external auditor; and
			• Reporting to the Board on how it has discharged its responsibilities.

1	Summary of Principal Activities in 2024
	The Committee met 9 times during 2024, with the key areas of focus being the following:
	• Considering the impact of CRH's transition to a primary listing on the NYSE, and the related move to quarterly reporting, on the Company's financial reporting and internal control processes;
	• Recommended to the Board that it approve the 2023 Annual Report and Form 10-K and CRH's quarterly financial statements, and related Form 10-Qs, for each of quarter 1, 2 and 3 of 2024;
	• Reviewed and discussed with management and Deloitte the Company's reporting on climate related risks, including the impact on the Company's accounting judgments, disclosures and financial statements, and their alignment with CRH's carbon emissions reduction targets;
	• Reviewed management's impairment testing methodology and processes, including key judgment areas, assumptions and alignment with our carbon emissions reduction targets;
	• Approved the Internal Audit Charter and audit plan for 2025;
	• Received regular updates from the Head of Internal Audit on the delivery of the 2024 internal audit plan; and
	• Reviewed an assessment by management of the effectiveness of the Company's risk management and internal control systems. This had regard to risk management strategies and all material controls, including financial, operational and compliance controls that could affect the Company's business.

^* Financial Experts under relevant SEC rules.¹

Compensation Committee

Chair	Members	Meeting Attendance	Primary Responsibilities
Lamar McKay	Richie Boucher Caroline Dowling Johan Karlström Shaun Kelly Gillian L. Platt Mary K. Rhinehart ALL INDEPENDENT	6 of 6 6 of 6 5 of 6 4 of 6 6 of 6 6 of 6 6 of 6	• Reviewing and approving corporate goals and objectives relevant to compensation of the Chief Executive Officer, evaluating his or her performance in light of those goals and objectives, and determining and approving the Chief Executive Officer's compensation level; • Reviewing and approving the annual compensation of the executive officers; • Periodically reviewing the form and amounts of the compensation of the non-management Directors and recommending any changes to the Board; • Establishing the selection criteria, selecting, appointing and setting the terms of reference for any compensation consultants who advise the Committee, and for obtaining reliable, up-to-date information about compensation in other comparable companies, subject to consideration by the Committee of all factors relevant to that person's independence from management to the extent required under the NYSE listing rules; • Approving the design of, and determining the financial and non-financial targets for, any short-term performance-related pay schemes operated by the Company and approve the total annual payments made under such schemes. The Committee shall additionally review the design of all long-term equity compensation plans for approval by the Board and shareholders, as applicable; • Preparing such reports and other disclosure as may be required by applicable law and regulation to be prepared by the Committee, including disclosure required under Item 407(e)(5) of Regulation S-K and disclosure required to be prepared by the Committee for inclusion in the Company's annual proxy statement, and, where relevant shall make recommendations to the Board with respect to any compensation-related proposals to be considered at the AGM, including say-on-pay and any compensation-related shareholder proposals; and • Reviewing compensation recovery or recoupment policy applicable to the Chief Executive Officer and other executive officers.
			Summary of Principal Activities in 2024
			The Committee met 6 times during 2024, with the key areas of focus being the following: • Considered and approved salary increases for the Chief Executive Officer and Chief Financial Officer; • Considered and approved the vesting and grant of awards under the Company's short-term and long-term share incentive plans; • Considered and approved the compensation for Jim Mintern, following his appointment as Chief Executive Officer with effect from January 1, 2025; • Considered and approved the retirement package for Albert Manifold, following his retirement as Chief Executive Officer and from the Board with effect from December 31, 2024; and • Considered and approved certain changes to the Group's compensation arrangements and structures to reflect the market and best practices applicable to U.S. domestic issuers following CRH's transition to a primary listing on the NYSE.

Nomination & Corporate Governance Committee

Chair	Members	Meeting Attendance	Primary Responsibilities
Richie Boucher	Badar Khan Lamar McKay Gillian L. Platt Mary K. Rhinehart Siobhán Talbot ALL INDEPENDENT	4 of 4 3 of 4 4 of 4 4 of 4 4 of 4 4 of 4	• Identifying and recommending for the approval of the Board: (i) candidates to fill Board vacancies as and when they arise; and (ii) Board nominees to stand for re-election as Directors at the annual general or, as applicable, special meeting of shareholders; • Reviewing the independence of each Director and making recommendations to the Board regarding independence; • Considering succession planning for Directors and senior executives; • Keeping under review the leadership needs of the Company, both management and non-management, with a view to ensuring the continued ability of the Company to compete effectively in the marketplace; • Approving the terms of reference for any external person or agency engaged to facilitate the evaluation of Board performance and overseeing the annual performance evaluation process of Company management and of the Board, including its Committees; • Developing, and recommending to the Board, corporate governance guidelines applicable or appropriate to the Company and keeping under review corporate governance developments (including ethics-related matters); • Through the Chair of the Board or through the Chair of the Committee, ensuring that the Company maintains contact as required with its principal shareholders about corporate governance matters; • Reviewing the disclosures and statements made in any reports to shareholders on corporate governance contained in CRH's regulatory disclosures; and • Reviewing and determining whether to approve any proposed transaction or ratify any transaction involving the Company and a related person which would be required to be disclosed under the rules of the SEC.
			Summary of Principal Activities in 2024
			The Committee met 4 times during 2024, with the key areas of focus being the following: • Reviewed and monitored the structure, size, composition and balance of skills on the Board; • Considered and recommended to the Board the approval of certain minor changes to CRH's Governance Guidelines; and • In conjunction with the Board, overseeing the succession planning process for executives.

Safety, Environment & Social Responsibility Committee

Chair	Members	Meeting Attendance	Primary Responsibilities
Mary K. Rhinehart	Richie Boucher Richard Fearon Johan Karlström Lamar McKay Albert Manifold Gillian L. Platt Christina Verchere Retired as Chief Executive Officer and from the Board with effect from December 31, 2024	4 of 4 4 of 4 4 of 4 3 of 4 4 of 4 4 of 4 4 of 4 4 of 4	• Monitoring the work of management to ensure that the Company's global health and safety policies and procedures are in line with best practice; • Reviewing and tracking performance against the Company's targets in the areas of health, safety, the environment and social responsibility; • Monitoring management's strategies and action plans relating to health and safety, the environment and social responsibility, including inclusion and diversity programs; • Keeping under review developments in health and safety, the environment and social responsibility that may impact the Company; • Reviewing, at least annually, the Safety, Environment and Social Responsibility performance of the Company and reporting to the Board on any significant trends or developments; • Reviewing the findings resulting from audits of safety and environment performance across the Company; • Reviewing management's implementation of recommendations to improve performance in areas under the responsibility of the Committee; • As agreed with management, making periodic visits to locations worldwide in order to become familiar with the nature of the operations; and • Reviewing and approving any reports on Safety, Environment and Social Responsibility in public documents such as the Sustainability Performance Report.
	Summary of Principal Activities in 2024
			The Committee met 4 times during 2024, with the key areas of focus being the following: • Reviewed and monitored CRH's sustainability- and climate-related targets, actions and performance; and • Considered and approved the publication of the 2023 Sustainability Performance Report and the inclusion of sustainability disclosures in the 2023 Annual Report on Form 10-K.

Risk Oversight

In accordance with Section 167(7) of the Companies Act 2014, the Board has delegated responsibility for monitoring the effectiveness of the Company's risk management and internal control systems to the Audit Committee.

Internal control and risk management systems in relation to the financial reporting process

Board of Directors

Ultimately responsible for strategy, risk and governance across CRH. Sets the risk appetite and ensures risks are being managed within appetite. Delegates responsibility to the Audit Committee.

SESR

Responsible for monitoring developments related to sustainability risks including safety, health, environment, climate and social performance, and providing strategic direction, oversight and risk assurance.

Audit Committee

Responsible for monitoring and assessing the Company's internal control and risk management systems. Receives regular updates on risk management strategies, mitigation and action plans. A key area of responsibility and focus of the Committee each year is to monitor the financial reporting process.

Other CRH Committees

Committees include: Acquisitions, Divestments & Finance; Compensation; and Nomination & Corporate Governance.

Global Leadership Team

Responsible for setting strategy, pursuing performance delivery and progressing our ambitious sustainability agenda. Delegates responsibility for risk strategy, oversight and governance to the Risk Committee.

Risk Committee

Responsible for setting risk strategy and overseeing our governance model and how we identify, assess and manage the principal and emerging global risks the Company encounters in the pursuit of our strategic objectives.

Regional Leadership

Responsible for identifying and managing divisional risks, ensuring risk management frameworks are operating effectively and capturing upside of risk, where possible.

Other Leadership Councils

Responsible for overseeing aspects of strategy, policy, targets and objectives related to a particular priority area for the Company, such as health and safety, climate and information security.

Risk Champion Network

Embedded across businesses, functions and divisions. Responsible for integration of risk management frameworks, regular reporting of risks and sharing best practice mitigation.

First Line of Defence

Operating company/business leaders are responsible for risk identification, management and ensuring that the control environment is robust.

Second Line of Defence

CRH has various oversight functions which are responsible for providing subject matter expertise, defining standards and ensuring adherence.

Third Line of Defence

CRH Internal Audit provides independent assurance over the control environment on a continuous basis.

Sustainability Oversight

Board Oversight

Sustainability, including addressing the impact of climate change, is embedded in the Company's strategy and business model. The Board recognizes the importance of addressing the challenges of climate change and believes that the Company is well placed to provide the value driven solutions to help solve global challenges (such as water, circularity and decarbonization) by designing and innovating our products, services and solutions to capture further value and accelerate growth across CRH. Climate change and sustainability are frequent discussion topics at Board and Board Committee meetings, with the Board and its Committees discussing various aspects of the Company's climate strategy, the linkage between the Company's remuneration policies and practices and the Company's sustainability (and climate-related) objectives, stakeholder expectations, the regulatory environment and CRH's carbon emissions reduction targets at the majority of meetings during 2024. The business opportunities and challenges for CRH and our customers from mitigating and managing the impact of climate change, while driving sustainability, form an integral part of discussions on the Company's strategy and business model, capital allocation and risk management.

The SESR Committee, to which the Board has delegated primary responsibility for monitoring developments related to sustainability, including climate, and providing strategic direction, oversight and support to the Board on these important topics, meets every quarter. The Board monitors and oversees progress against climate-related targets and goals through detailed reports of discussions and recommendations which are presented to it by the SESR Committee following the conclusion of each Committee meeting. The table below provides a high-level summary of the Board's oversight of climate-related risks and opportunities during 2024.

Management Responsibility

The Chief Executive Officer is responsible for the operational and profit performance of the Company and is accountable to the Board for all authority delegated to executive management. The Chief Executive Officer executes strategy agreed with the Board and regularly reports to the Board on the progress and performance of the Company, including in relation to climate-related matters. The Chief Executive Officer is supported by the Global Leadership Team, which is responsible for implementing strategy, pursuing performance delivery and progressing the Company's sustainability and climate-related agenda. Responsibility for formulating and executing our climate strategy sits with the Chief Operating Officer. The Global Leadership Team receives support from various executive-level committees and other working groups and functions on sustainability and climate-related issues. For more information on the Company's organization structure, including how responsibilities feed through each level, see our Risk Governance Framework on page 29.

	Climate-related Roles & Responsibilities	Principal Actions during 2024
Board	Ultimate responsibility for all risks, including climate-related risks and opportunities, and the delivery of our environmental targets.	• Considered and approved CRH's risk appetite and tolerance framework; • Considered reports from the SESR Committee on sustainability-related matters; • Considered and approved acquisitions and capital expenditure projects that further enhance our integrated sustainable solutions strategy; • During site visits in the United Kingdom and United States the Board observed sustainability-related investments and projects in operation.
Acquisitions, Divestments & Finance Committee	Reviewing the strategic rationale and impact of proposed acquisitions, divestitures and large capital expenditure projects.	• Within the thresholds set out in the Committee's charter, considered and approved acquisitions and capital expenditure projects that further enhance our integrated sustainable solutions strategy.
Audit Committee	Monitoring and assessing the Company's risk management processes (including climate risk) and internal control systems across the Company.	• Received and considered regular updates on the Company's principal and emerging risks and uncertainties, including those that could threaten its business model, future performance, solvency or liquidity. This included detailed discussion on the impact of climate-related risks on the Company's accounting judgments, disclosures, processes and financial statements.
Compensation Committee	Designing incentive structures which support the achievement of the key strategic priorities such as our climate and sustainability objectives.	• Considered and finalized appropriate sustainability-related targets for inclusion in the Company's 2024 awards under the 2014 Performance Share Plan.
Nomination & Corporate Governance Committee	Monitoring the Board's structure, size, composition and balance of skills to ensure that the Board can meet its strategic objectives and regulatory responsibilities.	• Actively reviewed and monitored the structure, size, composition and balance of skills on the Board.
SESR Committee	Monitoring developments related to sustainability, including climate, and providing strategic direction, oversight and support to the Board.	• Received and considered updates and reported to the Board on the Company's sustainability-related targets, actions and performance; • Monitored management's strategies and action plans relating to health and safety, the environment and social responsibility, including inclusion and diversity programs; • Considered and approved the publication of the 2023 Sustainability Performance Report and the inclusion of sustainability-related disclosures in the 2023 Annual Report on Form 10-K.

Board and Committees Activities during 2024

Directors' Compliance Statement

It is the policy of the Company to comply with its relevant obligations (as defined in the Companies Act 2014). The Directors have drawn up a compliance policy statement (as defined in section 225(3)(a) of the Companies Act 2014) and arrangements and structures are in place that are, in the Directors' opinion, designed to secure material compliance with the Company's relevant obligations. The Directors confirm that these arrangements and structures were reviewed during the financial year. As required by Section 225(2) of the Companies Act 2014, the Directors acknowledge that they are responsible for the Company's compliance with the relevant obligations. In discharging their responsibilities under Section 225, the Directors relied on the advice both of persons employed by the Company and of persons retained by the Company under contract, who they believe have the requisite knowledge and experience to advise the Company on compliance with its relevant obligations.

Annual General Meeting

The AGM of the Company will take place at the Royal Marine Hotel, Dun Laoghaire, Co. Dublin, Ireland on Thursday, May 8, 2025 at 11.00 a.m. local time. The Notice of Meeting, which includes a description of the business to be transacted at the AGM, will be made available on the Company's website, www.crh.com.

Statement Of Directors' Responsibilities

The Directors as at the date of this report, whose names are listed on page 19, are responsible for preparing the Annual Report and Consolidated Financial Statements in accordance with applicable laws and regulations.

Irish company law requires the Directors to prepare financial statements for each financial year which give a true and fair view of the assets, liabilities, financial position of CRH plc, the Parent Company, and of the Company, and of the profit or loss of the Company taken as a whole for that period (the 'Consolidated Financial Statements').

In preparing the Consolidated Financial Statements, the Directors are required to:

• (a) select suitable accounting policies and then apply them consistently;
• (b) make judgments and estimates that are reasonable and prudent;
• (c) comply with applicable International Financial Reporting Standards as adopted by the European Union, subject to any material departures disclosed and explained in the financial statements; and
• (d) prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The Directors confirm that to the best of their knowledge they have complied with the above requirements in preparing the 2024 Annual Report and Consolidated Financial Statements.

The considerations set out above for the Company are also required to be addressed by the Directors in preparing the financial statements of the Parent Company (which are set out on pages 113 to 117), in respect of which the applicable accounting standards are those which are generally accepted in Ireland.

The Directors have elected to prepare the Company Financial Statements in accordance with Irish law and accounting standards issued by the Financial Reporting Council and promulgated by the Institute of Chartered Accountants in Ireland (Generally Accepted Accounting Practice in Ireland), including FRS 101 Reduced Disclosure Framework.

The Directors are responsible for keeping adequate accounting records which disclose, with reasonable accuracy, at any time the financial position of the Parent Company and which enable them to ensure that the Consolidated Financial Statements are prepared in accordance with applicable International Financial Reporting Standards as adopted by the European Union and comply with the provisions of the Companies Act 2014 and Article 4 of the International Accounting Standards (IAS) Regulation.

The Directors are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

For the purposes of Section 330 of the Companies Act 2014, each of the Directors also confirms that:

• (a) so far as they are aware, there is no relevant audit information of which the Company's statutory auditor is unaware; and
• (b) they have taken all the steps that they ought to have taken as Directors in order to make themselves aware of any relevant audit information and to establish that the Company's statutory auditor is aware of that information.

On behalf of the Board,

R. Boucher, J. Mintern Directors February 26, 2025

Independent auditor's report to the members of CRH plc

Report on the audit of the financial statements

Opinion on the financial statements of CRH plc (the 'Parent Company') and its subsidiaries (the 'Group')

In our opinion the Group and Parent Company financial statements:

• give a true and fair view of the assets, liabilities and financial position of the Group and Parent Company as at December 31, 2024 and of the profit of the Group for the financial year then ended; and
• have been properly prepared in accordance with the relevant financial reporting framework and, in particular, with the requirements of the Companies Act 2014.

The financial statements we have audited comprise:

• the Group financial statements:
• the Consolidated Income Statement;
• the Consolidated Statement of Comprehensive Income;
• the Consolidated Balance Sheet;
• the Consolidated Statement of Changes in Equity;
• the Consolidated Statement of Cash Flows; and
• the related Notes 1 to 32, including material accounting policy information as set out at the beginning of the notes.
• the Parent Company financial statements:
  • the Parent Company Balance Sheet;
  • the Parent Company Statement of Changes in Equity; and
  • the related Notes 1 to 13, including material accounting policy information as set out in Note 2.

The relevant financial reporting framework that has been applied in the preparation of the Group financial statements is the Companies Act 2014 and International Financial Reporting Standards (IFRS) Accounting Standards as issued by the International Accounting Standards Board (IASB) and as adopted by the European Union ("the relevant financial reporting framework"). The relevant financial reporting framework that has been applied in the preparation of the Parent Company financial statements is the Companies Act 2014 and FRS 101 "Reduced Disclosure Framework" issued by the Financial Reporting Council ("the relevant financial reporting framework").

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (Ireland) (ISAs (Ireland)) and applicable law. Our responsibilities under those standards are described below in the "Auditor's responsibilities for the audit of the financial statements" section of our report.

We are independent of the Group and Parent Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in Ireland, including the Ethical Standard issued by the Irish Auditing and Accounting Supervisory Authority (IAASA), as applied to listed entities, and we have fulfilled our other ethical responsibilities in accordance with these requirements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Summary of our audit approach
Key audit matters	The key audit matters that we identified in the current year were: • Business Combinations - Valuation of Property, plant and equipment related to the Hunter and Adbri acquisitions (Group only); and • Revenue - Revenue recognition for certain long-term contracts (Group only). Within this report, any new key audit matters are identified with and any key audit matters which are the same as the prior year are identified with
Materiality	The Group materiality that we used in the current year was \$250 million, which was determined on the basis of profit before tax as the primary benchmark and represents approximately 5.6% of that metric. The materiality that we used in the current year for the Parent Company financial statements was \$70 million which was determined on the basis of total equity/net assets and represents approximately 1% of that metric.
Scoping	We structured our approach to the audit to reflect how the Group is organized as well as ensuring our audit was both effective and risk-focused. Our scope covered 26 components. Of these, 3 were subject to an audit of the component's financial information by the component audit team, 1 was subject to an audit of one or more account balances by the component audit team, 20 were subject to an audit of one or more account balances by the Group audit team, and 2 additional components were subject to integrated audit procedures performed on specified balances in aggregate by the Group audit team.
Significant changes in our approach	There have been no significant changes in our approach from the prior year audit.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Our evaluation of the directors' assessment of the Group and Parent Company's ability to continue to adopt the going concern basis of accounting included:

• obtaining an understanding of the Group's controls over the development and approval of the projections and assumptions used in the cash flow forecasts to support the going concern assumption and testing the operating effectiveness of these controls;
• testing the clerical accuracy of the cash flow forecast model;
• performing an assessment of the financing facilities, including the nature of facilities and their maturity profile;
• completing an assessment and challenging the consistency of the forecasts with other areas of our audit, such as the models used in the assessment of the carrying value of goodwill;
• performing a look back analysis of the historical accuracy of forecasts prepared by management;
• assessing the appropriateness of the sensitivity analysis prepared by management; and
• assessing the adequacy of the disclosures in the financial statements.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group and Parent Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorized for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current financial year and include the most significant assessed risks of material misstatement (whether or not due to fraud) we identified, including those which had the greatest effect on: the overall audit strategy, the allocation of resources in the audit; and directing the efforts of the engagement team. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

Business Combinations - Valuation of Property, plant and equipment related to the Hunter and Adbri acquisitions (Group only) - Refer to Accounting Policies and Note 29

Key audit matter description	On February 9, 2024, the Group wholly acquired a portfolio of cement and readymixed concrete operations and assets in Texas, United States for a total cash consideration, net of cash acquired, of \$2,106 million (the 'Hunter' acquisition), and on July 1, 2024, it acquired 57% of the issued share capital of Adbri, a materials business in Australia, for a total cash consideration, net of cash acquired, of \$787 million (the 'Adbri' acquisition). The Group accounted for these acquisitions as business combinations. Accordingly, the purchase price was allocated to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. These acquisitions included Property, plant and equipment of \$1,081 million and \$1,382 million respectively. We identified the valuation of Property, plant and equipment as a key audit matter because of the estimates made by management to determine the fair value of these assets for purposes of recording the acquisitions. This required a high degree of auditor judgment and an increased extent of effort, including the need to involve our valuation specialists when performing audit procedures to determine the fair value of acquired Property, plant and equipment under the replacement cost approach. This included estimating the useful lives based on management's historical experience and expectations as to the period of time over which the assets will be used and
	estimating the cost to replace or reproduce comparable assets adjusted for the remaining useful lives.
How the scope of our audit responded to the key audit matter	Our audit procedures related to the fair value of Property, plant and equipment acquired as part of the acquisitions included the following, among others: • We tested the effectiveness of controls over the purchase price allocation, including management's controls over the assumptions used in the replacement cost approach for Property, plant and equipment and the review of the work of management's third-party specialists. • We evaluated the underlying terms of the purchase agreements, in order to corroborate our understanding of the substance of the acquisition obtained through inquiry with the Group's management, as well as to assess the completeness of the assets acquired. • We evaluated the competency, capabilities and objectivity of the third-party specialists engaged by management to perform the
	valuations. • We read the third-party valuation reports and, with the assistance of our valuation specialists, we evaluated the appropriateness of the
	Group's methodology used to estimate the cost to replace or reproduce comparable assets adjusted for the remaining useful lives.

Revenue - Revenue recognition for certain long-term contracts (Group only) - Refer to Accounting Policies and Note 1

Key audit matter description

The Group recognizes long-term contract revenue over the contract term as the work progresses because transfer of control and the fulfilment of performance obligations to the customer is continuous. Revenue derived from long-term contracts, measured on a percentage of completion basis and in-progress at the balance sheet date involves judgment, particularly as it relates to the process of estimating total forecasted costs of the contracts. We identified revenue recognition for certain long-term contracts, measured on a percentage of completion basis and in-progress at the balance sheet date as a key audit matter because of the judgments made by management in estimating total forecasted costs of the contracts. This required extensive audit effort due to the complexity of certain long-term contracts and required a high degree of auditor judgment when performing audit procedures to audit management's estimates and evaluating the results of those procedures.

How the scope of our audit responded to the key audit matter

Our audit procedures related to management's recognition of revenue for certain long-term contracts, measured on a percentage of completion basis and in-progress at the balance sheet date included the following, among others: • We tested the effectiveness of controls over long-term contract revenue, including management's controls over the estimates of total forecasted costs. • We selected a sample of long-term contracts and: ◦ assessed whether the contracts were properly included in management's calculation of long-term contract revenue based on the terms and conditions of each contract, including whether continuous transfer of control to the customer occurred as progress was made toward fulfilling the performance obligation; ◦ tested the accuracy and completeness of the costs incurred to date for the performance obligation to supporting documentation; ◦ evaluated management's ability to estimate total forecasted costs accurately by: ▪ comparing costs incurred to date to the costs management estimated, at either the inception of the contract or the start of the reporting period; ▪ evaluating management's ability to accurately estimate the total cost by performing corroborating inquiries with the Group's project managers, and comparing the estimates to management's work plans, engineering specifications, and supplier contracts; and ▪ comparing management's estimates for the selected contracts to costs of similar performance obligations, when applicable; and ◦ tested the mathematical accuracy of management's calculation of revenue, measured on a percentage of completion basis, for the performance obligation.

Our audit procedures relating to these matters were designed in the context of our audit of the financial statements as a whole, and not to express an opinion on individual accounts or disclosures. Our opinion on the financial statements is not modified with respect to any of the risks described above, and we do not express an opinion on these individual matters.

Our application of materiality

Materiality

We define materiality as the magnitude of misstatement that makes it probable that the economic decisions of a reasonably knowledgeable person, relying on the financial statements, would be changed or influenced. We use materiality both in planning the scope of our audit work and in evaluating the results of our work. Based on our professional judgment, we determined materiality for the financial statements as a whole as follows:

	Group financial statements		Parent Company financial statements
Materiality	\$250 million (2023: \$205 million)		\$70 million (2023: \$90 million)
Basis for determining materiality	The materiality that we used for the Group financial statements was determined on the basis of profit before tax from continuing operations and represents 5.6% of that metric.		The materiality that we used for the Parent Company financial statements was determined on the basis of total equity/net assets and represents approximately 1% of that metric.
Rationale for the benchmark applied	We conducted an assessment to determine the financial statement items of most importance to investors and analysts by reading analyst reports and CRH's communication to shareholders. This resulted in us selecting profit before tax as the most appropriate benchmark. Moreover, profit before tax is traditionally considered the most appropriate benchmark for listed entities. Group materiality represents:		The Parent Company holds the Group's investments and is not in itself profit-oriented. The strength of the balance sheet is the key measure of financial health that is important to shareholders since the primary concern for the Parent Company is the payment of dividends. Using a benchmark of equity/net assets is therefore the most appropriate metric.
	Metric	%
	PBT	5.6%
1	Adjusted EBITDA*	3.5%
	Revenue	0.7%

* Adjusted EBITDA which is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, impairment charges, gain/loss on divestitures and unrealized gain/loss on investments, income/loss from equity method investments and substantial acquisition-related costs.

^* Adjusted EBITDA which is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, impairment charges, gain/loss on divestitures, income/loss from equity method investments and substantial acquisition-related costs.¹

Performance materiality

We set performance materiality at a level lower than materiality to reduce the probability that, in aggregate, uncorrected and undetected misstatements exceed the materiality for the financial statements. Performance materiality was set at 80% of each of Group and Parent Company materiality for the 2024 audit (2023: 80%). In determining the current year performance materiality, we considered the following factors:

• (a) the quality of the control environment and whether we were able to rely on controls;
• (b) the amount and nature of control deficiencies;
• (c) the nature, volume and size of misstatements (corrected and/or uncorrected) in the previous audit;
• (d) prior period adjustments or errors found in the current year; and
• (e) our assessment of engagement risk.

Error reporting threshold

We agreed with the Audit Committee that we would report to them any audit differences in excess of \$12.5 million (2023: \$10.25 million), as well as differences below that threshold that, in our view, warranted reporting on qualitative grounds. We also report to the Audit Committee on disclosure matters that we identified when assessing the overall presentation of the financial statements.

An overview of the scope of our audit

Identification and scoping of components

The Group consists of three operating and reporting segments; it has a decentralized structure and an international footprint. As a result, a significant portion of audit planning time was spent to ensure that the scope of our work is appropriate to address the Group's identified risks of material misstatement.

• In-scope locations were identified based on their contribution to the applicable benchmarks i.e. revenue, total assets and profit before tax.
• We focused our Group audit scope primarily on the audit of 3 components (3 components in 2023) which were subject to an audit of the component's financial information performed by component audit teams to a component materiality (Scope A). 1 component (1 component in 2023) was subject to an audit of one or more account balances of the component performed by the component audit team where the component audit team performs risk assessment and integrated audit procedures at component materiality (Scope B). 20 components (28 components in 2023) were subject to an audit of one or more account balances of the component performed by the Group audit team where the risk assessment and integrated audit procedures are performed centrally at component materiality (Scope C). 2 additional components (2 component in 2023) were subject to integrated audit procedures performed on specified balances in aggregate at the Group level at Group materiality (Scope D).
• Data analytics were performed centrally and used extensively in selecting the components and addressing the residual entities based on the considerations listed. In addition, we analyzed disaggregated financial data related to residual entities not subject to full or specified scope audit procedures in order to identify any unusual movements or relationships.
• Our audit work for all components was executed at levels of materiality applicable to each individual component which were lower than Group materiality and ranged from \$70 million to \$180 million.

Working with other auditors

The Group audit team planned its site visits to component auditors based on a variety of factors including size of entity and number of significant risks. Oversight and guidance are provided to the component auditors through a combination of:

• issuance of Group referral instructions;
• upfront team briefings to all component teams;
• site visits (physical and virtual); and
• risk assessment discussions and detailed workpaper reviews.

These are designed so that the Lead Audit Partner or a senior member of the Group audit team visits all key locations across the Group. In addition, we assess the competence of our component auditors.

A combination of physical and virtual site visits were performed at key locations during the year.

We held regular meetings with management at a regional and Group level in order to update our understanding of the Group and its environment on an ongoing basis.

We classify components according to the following scoping categories:

• 1. Scope A An audit of a component's financial information has been performed by the component team where the component team performs risk assessment and integrated audit procedures at component materiality.
• 1. Scope B An audit of one or more account balance of the component has been performed by the component local team where the component team performs risk assessment and integrated audit procedures at component materiality.
• 1. Scope C An audit of one or more account balance of the component is performed by the Group audit team where the risk assessment and integrated audit procedures are performed centrally at component materiality.
• 1. Scope D Integrated audit procedures are performed on specified balances in aggregate at the Group level at Group materiality.
• 1. Residual As Risks of Material Misstatements have been determined to be remote for components and balances included in the residual, the Group engagement team performs analytical procedures, which are not substantive in nature, to determine whether the audit risk has been reduced to an acceptable level.

Our consideration of the control environment

We tested the effectiveness of internal controls over financial reporting across all in-scope entities and entity level controls at the Group level. Given the importance of information technology ("IT") in recording of financial information and transactions, we have tested General IT controls relating to certain Group IT systems where relevant to our audit work. We were able to place reliance on controls where planned and it was more efficient.

Our consideration of climate-related risks

In planning our audit, we have considered the potential impacts of the climate-related risks identified by management on the Group's business and its financial statements.

The Group has set out their 2030 carbon reduction target on page 118. The Group have also identified climate change and policy as part of their principal operational risks and uncertainties on page 11. They have set out the potential impacts of their physical risks and transitional risks on their business on page 11 and their Taxonomy eligible economic activities on page 131.

As part of our audit, we have obtained management's climate-related risk assessment and made inquiries of management to understand their process for considering the impact of climate-related risks. The Group reflected the impact of stated 2030 carbon reduction target on assumptions used in setting key estimates recorded in the financial statements in accordance with IFRS requirements.

We have performed our own risk assessment of the potential impact of the 2030 carbon reduction target outlined by the Group and how they may affect judgments and estimates included in the financial statements. The main climate-related implications considered as part of our audit relate to the impact of climate change on cash flow projections underlying intangible assets. These projections include assumptions on costs of carbon and future capital expenditure required to meet the 2030 carbon reduction target. Our audit procedures were performed with the involvement of our sustainability and valuation specialists. We also challenged how the directors considered climate change in their assessment of going concern.

We assessed if the assumptions used by the directors in the financial statements were consistent with their 2030 carbon reduction target and as set out in their accounting policies, on page 47.

We have also read the Group's disclosure of climate-related information in the Annual Report, including the TCFD disclosures listed on pages 123 to 130.

Other information

The other information comprises the information included in the Annual Report, other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the Annual Report.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view and otherwise comply with the Companies Act 2014, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the Group and Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the Group and Parent Company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (Ireland) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

A further description of our responsibilities for the audit of the financial statements is located on IAASA's website at:

https://iaasa.ie/publications/description-of-the-auditors-responsibilities-for-the-audit-of-the-financial-statements/.

This description forms part of our auditor's report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Identifying and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:

• the nature of the industry and sector, control environment and business performance including the design of the Group's remuneration policies, key drivers for directors' remuneration, bonus levels and performance targets;
• the Group's own assessment of the risks that irregularities may occur either as a result of fraud or error that was approved by the board and presented to the Audit Committee on December 3, 2024;
• results of our enquiries of management, internal audit and the audit committee about their own identification and assessment of the risks of irregularities;
• any matters we identified having obtained and reviewed the Group's documentation of their policies and procedures relating to:
  • identifying, evaluating and complying with laws and regulations and whether they were aware of any instances of non-compliance;
  • detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud; and
  • the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations; and
• the matters discussed among the audit engagement team including significant component audit teams and relevant internal specialists, including tax, fair value, pensions, IT, mineral reserves and sustainability specialists regarding how and where fraud might occur in the financial statements and any potential indicators of fraud.

In common with all audits under ISAs (Ireland), we are required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the Group and the Parent Company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included the Irish Companies Act 2014, the UK Listing Rules for Standard Listing, and reporting obligations under U.S. securities laws. The Group is also subject to various statutes, regulations, and laws applicable to businesses generally in the countries and markets in which it operates.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the Group and Parent Company's ability to operate or to avoid a material penalty. These include statutes, regulations and laws affecting land usage, zoning, labor and employment practices, competition/anti-trust, financial reporting, taxation, anti-fraud and theft, anti-bribery, anticorruption, international trade compliance, governance, data protection and data privacy and security, environmental, health and safety, and international trade and sanctions laws and other matters.

Audit response to risks identified

As a result of performing the above, we did not identify any key audit matters related to the potential risk of fraud or non-compliance with laws and regulations.

In addition to the above, our procedures to respond to risks identified included the following:

• reviewing the financial statement disclosures and testing to supporting documentation to assess compliance with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
• enquiring of management, the audit committee and in-house legal counsel concerning actual and potential litigation and claims;
• performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of material misstatement due to fraud;
• reading minutes of meetings of those charged with governance, reviewing internal audit reports and reviewing correspondence with the tax authorities; and
• in addressing the risk of fraud through management override of controls, testing the appropriateness of journal entries and other adjustments; assessing whether the judgments made in making accounting estimates are indicative of a potential bias; and evaluating the business rationale of any significant transactions that are unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists and significant component audit teams, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

Report on other legal and regulatory requirements

Opinion on other matters prescribed by the Companies Act 2014

Based solely on the work undertaken in the course of the audit, we report that:

• We have obtained all the information and explanations which we consider necessary for the purposes of our audit.
• In our opinion the accounting records of the Parent Company were sufficient to permit the financial statements to be readily and properly audited.
• In our opinion information and returns adequate for our audit have been received from branches of the Parent Company not visited by us.
• The Parent Company Balance Sheet is in agreement with the accounting records.
• In our opinion the information given in the directors' report is consistent with the financial statements.
• In our opinion those parts of the directors' report specified for our review, which does not include sustainability reporting when required by Part 28 of the Companies Act 2014, have been prepared in accordance with the Companies Act 2014.

Matters on which we are required to report by exception

Based on the knowledge and understanding of the Group and the Parent Company and its environment obtained in the course of the audit, we have not identified material misstatements in those parts of the directors' report as specified for our review.

The Companies Act 2014 requires us to report to you if, in our opinion, the Group and Parent Company has not provided the information required by Regulation 5(2) to 5(7) of the European Union (Disclosure of Non-Financial and Diversity Information by certain large undertakings and groups) Regulations 2017 (as amended) for the financial year. We have nothing to report in this regard.

We have nothing to report in respect of the provisions in the Companies Act 2014 which require us to report to you if, in our opinion, the disclosures of directors' remuneration and transactions specified by law are not made.

Use of our report

This report is made solely to the Parent Company's members, as a body, in accordance with Section 391 of the Companies Act 2014. Our audit work has been undertaken so that we might state to the Parent Company's members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Parent Company and the Parent Company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Ciarán O'Brien For and on behalf of Deloitte Ireland LLP Chartered Accountants and Statutory Audit Firm Deloitte & Touche House, Earlsfort Terrace, Dublin 2

February 26, 2025

Notes: An audit does not provide assurance on the maintenance and integrity of the website, including controls used to achieve this, and in particular on whether any changes may have occurred to the financial statements since first published. These matters are the responsibility of the directors but no control procedures can provide absolute assurance in this area.

Legislation in Ireland governing the preparation and dissemination of financial statements differs from legislation in other jurisdictions.

Consolidated Income Statement

for the financial year ended December 31, 2024

		2024	2023
		\$m	\$m
Notes
1,2	Revenue	35,572	34,949
3	Cost of sales	(22,947)	(22,919)
	Gross profit	12,625	12,030
3	Operating costs	(7,751)	(7,743)
2,4,6	Operating profit	4,874	4,287
2,5	Gain on divestitures	208	–
	Profit before finance costs	5,082	4,287
8	Finance costs	(607)	(457)
8	Finance income	143	206
8	Other financial expense	(60)	(54)
14	Loss from equity method investments	(108)	(17)
2	Profit before tax	4,450	3,965
9	Income tax expense	(1,076)	(941)
	Profit for the financial year	3,374	3,024
	Profit attributable to:
	Equity holders of the Company	3,345	3,130
	Non-controlling interests	29	(106)
	Profit for the financial year	3,374	3,024
11	Basic earnings per Ordinary Share	\$4.90	\$4.32
11	Diluted earnings per Ordinary Share	\$4.85	\$4.29

Consolidated Statement of Comprehensive Income

for the financial year ended December 31, 2024

		2024	2023
		\$m	\$m
Notes
	Profit for the financial year	3,374	3,024
	Other comprehensive income
	Items that may be reclassified to profit or loss in subsequent years:
	Currency translation effects	(457)	343
24	Loss relating to cash flow hedges	(37)	(59)
9	Tax relating to cash flow hedges	5	8
		(489)	292
	Items that will not be reclassified to profit or loss in subsequent years:
27	Remeasurement of retirement benefit obligations	(56)	(44)
9	Tax relating to retirement benefit obligations	(4)	15
		(60)	(29)
	Total other comprehensive (loss)/income for the financial year	(549)	263
	Total comprehensive income for the financial year	2,825	3,287
	Attributable to:
	Equity holders of the Company	2,849	3,390
	Non-controlling interests	(24)	(103)
	Total comprehensive income for the financial year	2,825	3,287

Consolidated Balance Sheet

as at December 31, 2024

		2024	2023
Notes		\$m	\$m
	ASSETS
	Non-current assets
12	Property, plant and equipment	22,665	19,116
13	Intangible assets	12,276	10,199
14	Equity method investments	737	620
14	Other financial assets	36	81
16	Other receivables	344	181
27	Retirement benefit assets	169	248
24	Derivative financial instruments	–	1
26	Deferred income tax assets	135	115
	Total non-current assets	36,362	30,561
	Current assets
15	Inventories	4,776	4,291
16	Trade and other receivables	5,109	4,792
14	Other financial assets	200	–
	Current income tax recoverable	162	93
24	Derivative financial instruments	69	47
22	Cash and cash equivalents	3,720	6,341
	Assets held for sale	–	1,272
	Total current assets	14,036	16,836
	Total assets	50,398	47,397
	EQUITY
	Capital and reserves attributable to the Company's equity holders
28	Equity share capital	290	296
28	Preference share capital	1	1
28	Treasury shares and own shares	(2,137)	(2,199)
	Other reserves	295	398
	Cash flow hedging reserve	(45)	(42)
	Foreign currency translation reserve	(756)	(352)
	Retained income	23,729	23,420
	Capital and reserves attributable to the Company's equity holders	21,377	21,522
30	Non-controlling interests	965	521
	Total equity	22,342	22,043
	LIABILITIES
	Non-current liabilities
19	Lease liabilities	1,264	1,211
23	Interest-bearing loans and borrowings	10,969	9,776
24	Derivative financial instruments	30	58
26	Deferred income tax liabilities	3,056	2,715
17	Other payables	764	651
27	Retirement benefit obligations	231	254
25	Provisions for liabilities	805	771
	Total non-current liabilities	17,119	15,436
	Current liabilities
19	Lease liabilities	332	286
17	Trade and other payables	6,261	6,106
	Current income tax liabilities	753	774
23	Interest-bearing loans and borrowings	2,999	1,866
24	Derivative financial instruments	66	27
25	Provisions for liabilities	526	464
	Liabilities associated with assets classified as held for sale	–	395
	Total current liabilities	10,937	9,918
	Total liabilities	28,056	25,354
	Total equity and liabilities	50,398	47,397

R. Boucher, J. Mintern, Directors

Consolidated Statement of Changes in Equity

for the financial year ended December 31, 2024

		Attributable to the equity holders of the Company
		Issued share capital	Treasury shares/ own shares	Other reserves	Cash flow hedging reserve	Foreign currency translation reserve	Retained income	Total	Non controlling interests	Total equity
		\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m
Notes	At January 1, 2024	297	(2,199)	398	(42)	(352)	23,420	21,522	521	22,043
	Profit for the financial year	–	–	–	–	–	3,345	3,345	29	3,374
	Other comprehensive loss	–	–	–	(37)	(404)	(55)	(496)	(53)	(549)
	Total comprehensive income	–	–	–	(37)	(404)	3,290	2,849	(24)	2,825
7	Share-based payment expense	–	–	125	–	–	–	125	–	125
28	Treasury shares/own shares reissued	–	8	–	–	–	(8)	–	–	–
28	Shares acquired by Employee Benefit Trust (own shares)	–	(180)	–	–	–	–	(180)	–	(180)
28	Shares distributed under the Performance Share Plan Awards	–	234	(234)	–	–	(11)	(11)	–	(11)
28	Shares acquired and cancelled by CRH plc	(6)	–	6	–	–	(1,302)	(1,302)	–	(1,302)
	Hedging losses transferred to inventory	–	–	–	34	–	–	34	–	34
9	Tax relating to cash flow hedges	–	–	–	–	–	(1)	(1)	–	(1)
9	Tax relating to share-based payment expense	–	–	–	–	–	39	39	–	39
	Share option exercises	–	–	–	–	–	8	8	–	8
10	Dividends	–	–	–	–	–	(1,706)	(1,706)	(39)	(1,745)
	Disposal of non-controlling interests	–	–	–	–	–	–	–	(19)	(19)
29	Non-controlling interests arising on acquisition of subsidiaries	–	–	–	–	–	–	–	507	507
	Transactions involving non-controlling interests	–	–	–	–	–	–	–	19	19
	At December 31, 2024	291	(2,137)	295	(45)	(756)	23,729	21,377	965	22,342
	for the financial year ended December 31, 2023
	At January 1, 2023	303	(297)	380	5	(692)	21,992	21,691	646	22,337
	Profit for the financial year	–	–	–	–	–	3,130	3,130	(106)	3,024
	Other comprehensive income	–	–	–	(59)	340	(21)	260	3	263
	Total comprehensive income	–	–	–	(59)	340	3,109	3,390	(103)	3,287
7	Share-based payment expense	–	–	123	–	–	–	123	–	123
28	Shares acquired by CRH plc (Treasury shares)	–	(1,955)	–	–	–	281	(1,674)	–	(1,674)
28	Treasury shares/own shares reissued	–	6	–	–	–	(6)	–	–	–
28	Shares acquired by Employee Benefit Trust (own shares)	–	(64)	–	–	–	–	(64)	–	(64)
28	Shares distributed under the Performance Share Plan Awards	–	111	(111)	–	–	–	–	–	–
28	Shares acquired and cancelled by CRH plc	(6)	–	6	–	–	(1,048)	(1,048)	–	(1,048)
	Hedging losses transferred to inventory	–	–	–	12	–	–	12	–	12
9	Tax relating to cash flow hedges	–	–	–	–	–	(3)	(3)	–	(3)
9	Tax relating to share-based payment expense	–	–	–	–	–	29	29	–	29
	Share option exercises	–	–	–	–	–	4	4	–	4
10	Dividends	–	–	–	–	–	(938)	(938)	(20)	(958)
	Transactions involving non-controlling interests	–	–	–	–	–	–	–	(2)	(2)
	At December 31, 2023	297	(2,199)	398	(42)	(352)	23,420	21,522	521	22,043

Consolidated Statement of Cash Flows

for the financial year ended December 31, 2024

		2024	2023
		\$m	\$m
Notes	Cash flows from operating activities
	Profit for the financial year	3,374	3,024
8	Finance costs (net)	524	305
	Loss from equity method investments	108	17
	Profit on disposals (including disposal of other long-lived assets)	(420)	(66)
12,19	Depreciation and depletion charge	1,883	1,717
13	Amortization of intangible assets	152	139
12,13,19	Impairment charge	161	357
7	Share-based payment expense	125	123
	Income tax expense	1,076	941
	Other	(16)	(105)
	Net movement in inventories, receivables, payables and
18	provisions	(273)	4
	Cash generated from operations	6,694	6,456
	Interest paid (including leases)	(655)	(461)
	Corporation tax paid	(960)	(959)
	Net cash inflow from operating activities	5,079	5,036
	Cash flows from investing activities
	Proceeds from disposals (net of cash disposed and deferred
	proceeds)	1,273	104
8	Interest received	151	206
14	Dividends received from equity method investments	44	44
12,13	Purchase of property, plant and equipment, and intangibles	(2,578)	(1,817)
29	Acquisition of subsidiaries (net of cash acquired)	(4,900)	(640)
14	Other investments and advances	(243)	(87)
20	Net cash flow arising from derivative financial instruments	(9)	(1)
18	Deferred and contingent acquisition consideration paid	(34)	(33)
18	Deferred divestiture consideration received	83	6
	Net cash outflow from investing activities	(6,213)	(2,218)
	Cash flows from financing activities
	Proceeds from exercise of share options	8	4
	Transactions involving non-controlling interests	19	(2)
20	Increase in interest-bearing loans and borrowings	4,001	3,163
20	Net cash flow arising from derivative financial instruments	(36)	7
20	Repayment of interest-bearing loans and borrowings	(1,859)	(1,462)
19	Repayment of lease liabilities (i)	(287)	(255)
28	Ordinary Shares/Treasury shares/own shares purchased	(1,482)	(3,067)
10	Dividends paid to equity holders of the Company	(1,706)	(940)
10	Dividends paid to non-controlling interests	(39)	(20)
	Net cash outflow from financing activities	(1,381)	(2,572)
	(Decrease)/increase in cash and cash equivalents	(2,515)	246
	Reconciliation of opening to closing cash and cash
	equivalents
	Cash and cash equivalents at January 1	6,390	5,936
	Translation adjustment	(155)	208
	(Decrease)/increase in cash and cash equivalents	(2,515)	246
22	Cash and cash equivalents at December 31	3,720	6,390

(i) Repayment of lease liabilities amounted to \$344 million (2023: \$302 million), of which \$57 million (2023: \$47 million) related to interest paid which is presented in cash flows from operating activities.

Accounting Policies

(including key accounting estimates and assumptions)

This document constitutes both the Annual Report and the Financial Statements in accordance with Irish and certain relevant UK requirements.

Basis of Preparation

The Consolidated Financial Statements of CRH plc have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union, which comprise standards and interpretations approved by the International Accounting Standards Board (IASB). IFRS as adopted by the European Union differ in certain respects from IFRS as issued by the IASB. However, the differences have no impact on the Consolidated Financial Statements for the financial years presented. The Consolidated Financial Statements are also prepared in compliance with the Companies Act 2014 and Article 4 of the EU IAS Regulation.

CRH plc, the Parent Company, is a publicly traded limited company incorporated and domiciled in the Republic of Ireland.

The Consolidated Financial Statements, which are presented in U.S. Dollar millions, have been prepared under the historical cost convention as modified by the measurement at fair value of share-based payments, retirement benefit obligations and certain financial assets and liabilities including derivative financial instruments.

The Consolidated Financial Statements have been prepared on a going concern basis. The Directors acknowledge that based on their review of the Company's activities, cash flows, liquidity position and borrowing facilities for the financial year ended December 31, 2024, and having assessed the principal risks facing the Company, the Board of Directors has a reasonable expectation that CRH plc, and the Company as a whole, has adequate financial and other resources to continue in operational existence and will be able to meet its liabilities as they fall due over the 12-month going concern period.

The accounting policies set out below have been applied consistently by all of the Company's subsidiaries, joint ventures and associates to all periods presented in the Consolidated Financial Statements.

In accordance with Section 304 of the Companies Act 2014, the Company is availing of the exemption from presenting its individual profit and loss account to the Annual General Meeting and from filing it with the Registrar of Companies.

Adoption of IFRS and International Financial Reporting Interpretations Committee (IFRIC) interpretations

The following standard amendments became effective for the Company as of January 1, 2024:

• Amendments to IFRS 16 Leases Lease Liability in a Sale and Leaseback
• Amendments to IAS 1 Presentation of Financial Statements Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants
• Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures Disclosures: Supplier Finance Arrangements

The standard amendments did not result in a material impact on the Company's results.

IFRS and IFRIC interpretations being adopted in subsequent years

The following standard amendments will become effective for the Company as of January 1, 2025:

• Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates Lack of Exchangeability
• The Company has evaluated the impact of these standard amendments on future periods and it is not expected to be material.

In April 2024, the IASB issued IFRS 18 Presentation of Financial Statements which will be effective for reporting periods beginning on or after January 1, 2027, with presentation of comparative figures required. The Company is currently working to identify all impacts the standard will have on the primary financial statements and notes to the financial statements.

There are no other IFRS or IFRIC interpretations that are effective subsequent to the 2024 financial year-end that are expected to have a material impact on the results or financial position of the Company.

Impact of Climate Change and Carbon Emissions Reduction Targets

Climate change risks including the impact of achieving the Company's carbon emissions reduction targets and the other risks identified in the TCFD disclosures on pages 123 to 130 have been considered and assessed in the preparation of the Consolidated Financial Statements for the year ended December 31, 2024. There has been no material impact identified on the estimates and underlying assumptions made in the preparation of the Company's Consolidated Financial Statements as a result of climate change risks. In line with the application of our accounting policies, estimates and underlying assumptions are reviewed on an ongoing basis as we continue to develop and implement our strategy to meet our carbon emissions reduction targets. The table below provides details of where further information has been provided in these Consolidated Financial Statements.

Climate change and carbon emissions reduction targets references	Pages
Impairment testing of goodwill and property, plant and equipment	48, 74, 76
Useful lives of assets	53, 74
Provisions for liabilities	54
Inventories	55
Retirement Benefit Obligations	100

The Directors are aware of the ever-changing risks attached to climate change and regularly assess these risks against judgments and estimates made in the preparation of the Company's Consolidated Financial Statements.

Key Accounting Policies which involve Estimates, Assumptions and Judgments

The preparation of the Consolidated Financial Statements in accordance with IFRS requires management to make certain estimates, assumptions and judgments that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Management believes that the estimates, assumptions and judgments upon which it relies are reasonable based on the information available to it at the time that those estimates, assumptions and judgments are made. In some cases, the accounting treatment of a particular transaction is specifically dictated by IFRS and does not require management's judgment in its application.

Management considers that their use of estimates, assumptions and judgments in the application of the Company's accounting policies are interrelated and therefore discuss them together below with the major sources of estimation uncertainty.

Estimates and underlying assumptions are reviewed on an ongoing basis. Changes in accounting estimates may be necessary if there are changes in the circumstances or experiences on which the estimate was based or as a result of new information. The critical accounting policies, which involve significant estimates, assumptions or judgments, the actual outcome of which could have a material impact on the Company's results and financial position outlined below, are as follows:

Impairment of goodwill and property, plant and equipment – Notes 12 and 13

Goodwill

In the year in which a business combination is effected and where some or all of the goodwill allocated to a particular cash-generating unit (CGU) arose in respect of that combination, the CGU is tested for impairment prior to the end of the relevant annual period.

Goodwill is subject to impairment testing on an annual basis and at any time during the year if an indicator of impairment is considered to exist.

Where the carrying value exceeds the estimated recoverable amount (being the greater of fair value less costs of disposal and value-in-use), an impairment loss is recognized by writing down goodwill to its recoverable amount.

Major sources of estimation uncertainty: Adjusted EBITDA margin, long-term growth and pre-tax discount rates

The impairment testing process requires management to make significant estimates and judgments regarding the future cash flows expected to be generated by CGUs to which goodwill has been allocated. In assessing value-in-use, net cash flow forecasts are extrapolated using long-term growth rates to determine the basis for an annuity-based terminal value. These net cash flow forecasts reflect volume, price and cost (including the cost of carbon where applicable) assumptions in addition to other cash flow movements. Adjusted EBITDA margin is deemed an appropriate measure for assessing the estimation uncertainty associated with price and cost assumptions. Future cash flows, including the terminal value, are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the future cash flow estimates have not been adjusted. The estimates of future cash flows exclude cash inflows or outflows attributable to financing activities and income tax. Management periodically evaluates and updates the estimates based on the conditions which influence these variables.

The assumptions and conditions for determining impairments of goodwill reflect management's best assumptions and estimates, but these items involve inherent uncertainties described above, many of which are not under management's control.

As a result, the accounting for such items could result in different estimates or amounts if management used different assumptions or if different conditions occur in future accounting periods. A detailed discussion of the impairment methodology applied, key assumptions used and related sensitivity analyses by the Company in the context of goodwill is provided in Note 13 to the Consolidated Financial Statements.

The recoverable amount of goodwill is determined by reference to the CGU to which the goodwill has been allocated. Impairment losses arising in respect of goodwill are not reversed once recognized.

Goodwill relating to associates and joint ventures is included in the carrying amount of the investment and is neither amortized nor individually tested for impairment. Where indicators of impairment of an investment arise in accordance with the requirements of IAS 36 Impairment of Assets, the carrying amount is tested for impairment by comparing its recoverable amount with its carrying amount.

Property, plant and equipment

The carrying values of items of property, plant and equipment are reviewed for indicators of impairment at each reporting date and are subject to impairment testing when events or changes in circumstances indicate that the carrying values may not be recoverable.

Property, plant and equipment assets are reviewed for potential impairment by applying a series of external and internal indicators specific to the assets under consideration. These indicators encompass macroeconomic issues including the inherent cyclicality of the building materials sector, actual obsolescence or physical damage, a deterioration in forecast performance in the internal reporting cycle and restructuring and rationalization programs. Consideration is also given to climate change and policy risks and uncertainties as set out on page 11, as well as to the actions required to deliver the Company's carbon emissions reduction targets when reviewing assets for potential impairment. A detailed discussion on this consideration is provided in Note 12 to the Consolidated Financial Statements.

Where the carrying value exceeds the estimated recoverable amount (being the greater of fair value less costs of disposal and value-in-use), an impairment loss is recognized by writing down the assets to their recoverable amount. For an asset that does not generate largely independent cash inflows, the recoverable amount is determined by reference to the CGU to which the asset belongs.

In assessing value-in-use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the CGU for which the future cash flow estimates have not been adjusted. The estimates of future cash flows exclude cash inflows or outflows attributable to financing activities and income tax.

Retirement benefit obligations – Note 27

Costs arising in respect of the Company's defined contribution pension schemes are charged to the Consolidated Income Statement in the period in which they are incurred. The Company has no legal or constructive obligation to pay further contributions in the event that the fund does not hold sufficient assets to meet its benefit commitments.

The liabilities and costs associated with the Company's defined benefit pension schemes (both funded and unfunded) are assessed on the basis of the projected unit credit method by professionally qualified actuaries and are arrived at using actuarial assumptions based on market expectations at the balance sheet date.

Major sources of estimation uncertainty: discount rates

The assumptions underlying the actuarial valuations (including discount rates, rates of increase in future compensation levels, mortality rates and healthcare cost trends), from which the amounts recognized in the Consolidated Financial Statements are determined, are updated annually based on current economic conditions and for any relevant changes to the terms and conditions of the pension and post-retirement plans. These assumptions can be affected by (i) for the discount rates, changes in the rates of return on high-quality corporate bonds; (ii) for future compensation levels, future labor market conditions and (iii) for healthcare cost trend rates, the rate of medical cost inflation in the relevant regions. The weighted average actuarial assumptions used and sensitivity analysis in relation to the significant assumptions employed in the determination of pension and other post-retirement liabilities are contained in Note 27 to the Consolidated Financial Statements.

The assumptions that are the most significant to the measurement of retirement benefit obligations are the discount rates. The discount rates employed in determining the present value of the schemes' liabilities are determined by reference to market yields at the balance sheet date on highquality corporate bonds of a currency and term consistent with the currency and term of the associated post-employment benefit obligations.

Whilst management believes that the assumptions used are appropriate, differences in actual experience or changes in assumptions may affect the obligations and expenses recognized in future accounting periods. The assets and liabilities of defined benefit pension schemes may exhibit significant period-on-period volatility attributable primarily to changes in bond yields and longevity. In addition to future service contributions, significant cash contributions may be required to remediate past service deficits.

The net surplus or deficit arising on each of the Company's defined benefit pension schemes, are shown either within non-current assets or non-current liabilities in the Consolidated Balance Sheet. The deferred tax impact of pension scheme surpluses and deficits is disclosed separately within deferred tax assets or liabilities as appropriate.

Remeasurements, comprising actuarial gains and losses, the return on plan assets (excluding net interest) and changes in the effect of the asset ceiling (if any, excluding net interest), are recognized immediately in the Consolidated Balance Sheet with a corresponding debit or credit to retained earnings through other comprehensive income in the period in which they occur. Remeasurements are not reclassified to profit or loss in subsequent periods.

The defined benefit pension asset or liability in the Consolidated Balance Sheet comprises the total for each plan of the present value of the defined benefit obligation less the fair value of plan assets out of which the obligations are to be settled directly. Plan assets are assets that are held by a long-term employee benefit fund or qualifying insurance policies. Fair value is based on market price information and, in the case of published quoted securities, it is the published bid price. The value of any defined benefit asset is limited to the present value of any economic benefits available in the form of refunds from the plan and reductions in the future contributions to the plan.

Defined benefit pension surpluses are recognized as assets to the extent that they are considered recoverable, which is generally by way of a refund or lower future employer contributions. Where there is no unconditional right to a refund or reduction in future contributions, we restrict the assets of the scheme by applying the asset ceiling test, which limits the net defined benefit surplus to the present value of available refunds and reductions in future contributions to the plan.

The Company's obligation in respect of post-employment healthcare and life assurance benefits represents the amount of future benefit that employees have earned in return for service in the current and prior periods. The obligation is computed on the basis of the projected unit credit method and is discounted to present value using a discount rate equating to the market yield at the balance sheet date on high-quality corporate bonds of a currency and term consistent with the currency and estimated term of the post-employment obligations.

Other Material Accounting Policies

Basis of consolidation

The Consolidated Financial Statements include the financial statements of the Parent Company and all subsidiaries drawn up to December 31 each year, and the Company's share of the results of joint ventures and associates which are accounted for using the equity method. The financial year-ends of the Company's subsidiaries, joint ventures and associates are coterminous.

Subsidiaries

Subsidiaries are all entities over which the Company has control. The Company controls an entity when the Company is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. Subsidiaries are fully consolidated from the date on which control is transferred to the Company. They are deconsolidated from the date that control ceases. A change in the ownership interest of a subsidiary without a change in control is accounted for as an equity transaction.

When the Company holds less than the majority of voting rights, other facts and circumstances including contractual arrangements that give the Company power over the investee may result in the Company controlling the investee. The Company reassesses whether it controls an investee if, and when, facts and circumstances indicate that there are changes to the elements evidencing control.

Non-controlling interests represent the portion of the equity of a subsidiary not attributable either directly or indirectly to the Parent Company and are presented separately in the Consolidated Income Statement and within equity in the Consolidated Balance Sheet, distinguished from Parent Company shareholders' equity. Acquisitions of non-controlling interests are accounted for as transactions with equity holders in their capacity as equity holders and therefore no goodwill is recognized as a result of such transactions. On an acquisition by acquisition basis, the Company recognizes any non-controlling interest in the acquiree either at fair value or at the non-controlling interest's proportionate share of the acquiree's net assets.

Equity method investments – associates and joint ventures – Note 14

An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of an entity, but is not control or joint control over those policies.

A joint venture is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the net assets of the joint venture. Joint control is the contractually agreed sharing of control of the arrangement, which exists only when decisions about the relevant activities require unanimous consent of the parties sharing control.

The Company's investments in its associates and joint ventures are accounted for using the equity method from the date significant influence/joint control is deemed to arise until the date on which significant influence/joint control ceases to exist or when the interest becomes classified as an asset held for sale.

The Consolidated Income Statement reflects the Company's income/loss from equity method investments. Investments in associates and joint ventures are carried in the Consolidated Balance Sheet at cost adjusted in respect of post-acquisition changes in the Company's share of net assets, less any impairment in value. Loans advanced to associates or joint ventures form part of the net investment in the associate or joint venture held in the Consolidated Balance Sheet. The Company applies IFRS 9 Financial Instruments, including the impairment requirements, to these loans as the equity method does not apply. If necessary, impairment losses on the carrying amount of an investment are reported within the Company's share of equity method investments' results in the Consolidated Income Statement. If the Company's share of losses exceeds the carrying amount of an associate or joint venture, the carrying amount is reduced to nil and recognition of further losses is discontinued except to the extent that the Company has incurred obligations in respect of the associate or joint venture.

Joint operations

A joint operation is a type of joint arrangement whereby the parties that have joint control of the arrangement have rights to the assets and obligations for the liabilities relating to the arrangement.

The Company's investments in its joint operations are accounted for by recognizing its assets and its liabilities, including its share of any assets or liabilities held jointly; its share of the revenue from the sale of the output by the joint operation; and its expenses, including its share of any expenses incurred jointly.

Revenue recognition – Note 1

The Company recognizes revenue in the amount of the price expected to be received for goods and services supplied at a point in time or over time, as contractual performance obligations are fulfilled and control of goods and services passes to the customer. It excludes trade discounts and value-added tax/ sales tax.

Revenue derived from sale of goods (sources other than construction contracts)

The Company manufactures and supplies a diverse range of building materials and products. While there is a number of different activities across the Company, recognition of revenue from the sale of goods is similar, being recognized at the point in time when control is deemed to pass to the customer on leaving a CRH premises or on delivery to a customer depending on the terms of the sale. Contracts do not contain multiple performance obligations (as defined by IFRS 15 Revenue from Contracts with Customers).

Across the Company, goods are often sold with discounts or rebates based on cumulative sales over a period. This variable consideration is only recognized when it is highly probable that it will not be subsequently reversed and is recognized using the most likely amount or expected value methods, depending on the individual contract terms. In the application of appropriate revenue recognition, judgment is exercised by management in the determination of the likelihood and quantum of such items based on experience and historical trading patterns.

Revenue derived from construction contracts

The Company enters into a number of construction contracts, to complete large construction projects. Contracts usually commence and complete within one year and are generally fixed price, but may be subject to indexation and/or escalation clauses that can either increase or decrease the final transaction price.

The Company typically recognizes revenue within its construction contract businesses over time, as it performs its obligations. Management believes this best reflects the transfer of control to the customer by providing a faithful depiction of primarily the enhancement of a customer controlled asset or the construction of an asset with no alternative use.

The percentage-of-completion method is used to recognize revenue when the outcome of a contract can be estimated reliably. The percentage-ofcompletion is calculated using an input method and based on the proportion of contract costs incurred at the balance sheet date relative to the total estimated costs of the contract. In all construction contract arrangements, the Company has an enforceable right to payment for work and performance obligations completed to date.

Some of the Company's construction contracts may contain forms of variable consideration that can either increase or decrease the transaction price. Variable consideration is estimated based on the most likely amount or expected value methods (depending on the contract terms) and the transaction price is adjusted to the extent it is highly probable that a significant reversal of revenue recognized will not occur.

In some instances, revenue is recognized in the period subsequent to the contracted work being completed when there is final certainty over the remaining element of variable consideration.

Recognition of contract assets and liabilities

In our construction contract businesses, amounts are billed as work progresses in accordance with pre-agreed contractual terms. When a performance obligation is satisfied but a customer has not yet been billed, a contract asset (unbilled revenue) is recognized and included within Trade and Other Receivables (Note 16). Retentions (representing the percentage of consideration due which is retained by the customer until certain contractual activities are completed) are also a common feature of construction contracts and are recognized as a contract asset within Trade and Other Receivables when we have a right to consideration in exchange for the completion of the contract. Retentions are consistent with industry norms and the purpose of these is not to provide a form of financing. Apart from retentions, the Company does not have any construction contracts where the period between the transfer of the promised goods to the customer and payment by the customer exceeds one year. As a consequence, the Company applies the practical expedient in IFRS 15 and does not adjust any of its transaction prices for the time value of money.

When consideration is received in advance of work being performed, or we have billed an amount to a customer that is in excess of revenue recognized on the contract, a contract liability is recognized within Trade and Other Payables (Note 17), and the revenue is generally recognized in the subsequent period when the right to recognize revenue has been determined. As a result, advance payments received for construction contract arrangements are not considered a significant form of financing.

Cumulative costs incurred, net of amounts transferred to cost of sales, after deducting onerous provisions, provisions for contingencies and payments on account not matched with revenue, are included as construction contract balances in inventories (Note 15). Costs includes all expenditure directly related to specific projects and an allocation of fixed and variable overheads incurred in the Company's contract activities based on normal operating capacity. The Company's contracts are generally for a duration of less than one year and therefore the Company does not capitalize incremental contract costs; instead expensing as incurred, as permitted by the practical expedient under IFRS 15.

Onerous contracts and warranties

When a contract is identified as being onerous (i.e. its unavoidable cost exceeds the economic benefit of the contract), a provision is created; being the lower of costs to complete the contract and the cost of exiting the contract. The Company recognizes a provision for assurance-type (standard) warranties offered across the Company under its terms and conditions in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets. The Company provides assurance-type warranties for general repairs and does not typically provide service-type (extended) warranties.

Segment reporting – Note 2

Operating segments are reported in a manner consistent with the internal organizational and management structure and the internal reporting information provided to the Chief Operating Decision Maker (CODM) who is responsible for allocating resources and assessing performance of the operating segments.

Assets and liabilities held for sale

Non-current assets and disposal groups classified as held for sale are measured at the lower of carrying amount and fair value less costs to sell.

Non-current assets and disposal groups are classified as held for sale if their carrying amounts will be recovered through a sale transaction rather than through continuing use. This condition is regarded as met only when the sale is highly probable and the asset or disposal group is available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets. Management must be committed to the sale, which should be expected to qualify for recognition as a completed sale within 12 months from the date of classification as held for sale.

Property, plant and equipment and intangible assets are not depreciated or amortized once classified as held for sale. The Company ceases to use the equity method of accounting from the date on which an interest in a joint venture or associate becomes held for sale. Non-current assets classified as held for sale and liabilities directly associated with those assets are presented separately as current items in the Consolidated Balance Sheet.

Share-based payments – Note 7

The Company operates a number of equity-settled share-based payment plans. Details of these plans, together with the nature of the underlying market and non-market performance and other vesting conditions are outlined in Note 7. The Company has no material exposure in respect of cash-settled share-based payment transactions and share-based payment transactions with cash alternatives.

Awards under Performance Share Plans

20% of the awards under the 2014 Performance Share Plan are subject to a Total Shareholder Return (TSR) (and hence market-based) vesting condition measured against a tailored sector peer group. Accordingly, the fair value assigned to the related equity instruments at the grant date is derived using a Monte Carlo simulation technique to model the market-based performance conditions, and is adjusted to reflect the anticipated likelihood as at the grant date of achieving the vesting condition. Awards are treated as vesting irrespective of whether or not the market condition is satisfied, provided that all other performance and/or service conditions are satisfied.

The remaining awards granted under the 2014 Performance Share Plan are subject to non-market-based vesting conditions; 45% are subject to a cumulative cash flow target; 20% are subject to a Return on Net Assets (RONA) metric; and 15% are subject to Environmental & Social Governance (ESG) metrics. The fair value of the awards is calculated as the market price of the shares at the date of grant. No expense is recognized for awards that do not ultimately vest. At the balance sheet date, the estimate of the level of vesting is reviewed and any adjustment necessary is recognized in the Consolidated Income Statement.

If awards which vest under the 2014 Performance Share Plan are allotted to an Employee Benefit Trust, an increase in nominal share capital and share premium is recognized accordingly on allotment.

Savings-related Share Option Scheme

The fair values assigned to options under the Savings-related Share Option Scheme are derived in accordance with the trinomial valuation methodology on the basis that the services to be rendered by employees as consideration for the granting of share options will be received over the vesting period, which is assessed as at the grant date.

The cost is recognized, together with a corresponding increase in equity, over the period in which the performance and/or service conditions are fulfilled. The cumulative expense recognized at each reporting date until the vesting date reflects the extent to which the vesting period has expired and the Company's best estimate of the number of equity instruments that will ultimately vest. The Consolidated Income Statement expense/credit for a period represents the movement in cumulative expense recognized at the beginning and end of that period. The cumulative charge to the Consolidated Income Statement is reversed only where an employee in receipt of share options leaves service prior to completion of the expected vesting period and those options forfeit in consequence.

Where an award is cancelled, it is treated as if it is vested on the date of cancellation, and any expense not yet recognized for the award is recognized immediately. This includes any award where non-vesting conditions within the control of either the Company or the employee are not met. All cancellations of awards are treated equally.

The proceeds received net of any directly attributable transaction costs are credited to share capital (nominal value) and share premium when the options are exercised.

The dilutive effect of outstanding options is reflected as additional share dilution in the determination of diluted earnings per share.

Taxation – current and deferred – Notes 9 and 26

Current tax represents the expected tax payable (or recoverable) on the taxable profit for the year using tax rates enacted for the period. Where items are accounted for outside of profit or loss, the related income tax is recognized either in other comprehensive income or directly in equity as appropriate.

Deferred tax is recognized using the liability method on temporary differences arising at the balance sheet date between the tax bases of assets and liabilities and their carrying amounts in the Consolidated Financial Statements. However, deferred tax liabilities are not recognized if they arise from the initial recognition of goodwill. In addition, deferred income tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit or loss and does not give rise to equal taxable and deductible temporary differences. For the most part, no provision has been made for temporary differences applicable to investments in subsidiaries and joint ventures as the Company is in a position to control the timing of reversal of the temporary differences and it is probable that the temporary differences will not reverse in the foreseeable future. However, a temporary difference has been recognized to the extent that specific assets have been identified for sale or where there is a specific intention to unwind the temporary difference in the foreseeable future. Due to the absence of control in the context of associates (significant influence only), deferred tax liabilities are recognized where appropriate in respect of the Company's investments in these entities on the basis that the exercise of significant influence would not necessarily prevent earnings being remitted by other shareholders in the undertaking.

Deferred tax is determined using tax rates (and laws) that have been enacted or substantively enacted by the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred tax assets and liabilities are not subject to discounting. Deferred tax assets are recognized in respect of all deductible temporary differences, carry-forward of unused tax credits and unused tax losses to the extent that it is probable that taxable profits will be available against which the temporary differences can be utilized. The carrying amounts of deferred tax assets are subject to review at each balance sheet date and are reduced to the extent that future taxable profits are considered to be inadequate to allow all or part of any deferred tax asset to be utilized.

The Company's income tax charge is based on reported profit and enacted statutory tax rates, which reflect various allowances and reliefs available to the Company in the multiple tax jurisdictions in which it operates. The determination of the Company's provision for income tax requires certain judgments and estimates in relation to matters where the ultimate tax outcome may not be certain. The recognition or non-recognition of deferred tax assets as appropriate also requires judgment as it involves an assessment of the future recoverability of those assets. In addition, the Company is subject to tax audits which can involve complex issues that could require extended periods to conclude, the resolution of which is often not within the control of the Company. Although management believes that the estimates included in the Consolidated Financial Statements and its tax return positions are reasonable, there is no certainty that the final outcome of these matters will not be different to that which is reflected in the Company's historical income tax provisions and accruals. While possible, the Company does not currently anticipate that any such differences could have a material impact on the income tax provision and profit for the period in which such a determination is made nor does it expect any significant impact on its financial position within the next 12 months. This is based on the Company's knowledge and experience, as well as the profile of the individual components which have been reflected in the current tax liability, the status of the tax audits, enquiries and negotiations in progress at each year-end, previous claims and any factors specific to the relevant tax environments.

Property, plant and equipment – Note 12

The carrying value of property, plant and equipment (excluding leased right-of-use assets) of \$21,157 million at December 31, 2024, represents 42% of total assets at that date. Property, plant and equipment are stated at cost less any accumulated depreciation and any accumulated impairments except for certain items that had been revalued to fair value prior to the date of transition to IFRS (January 1, 2004).

Repairs and maintenance expenditure is included in an asset's carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repairs and maintenance expenditure is charged to the Consolidated Income Statement during the financial year in which it is incurred.

Borrowing costs incurred in the construction of major assets which take a substantial period of time to complete are capitalized in the financial year in which they are incurred.

In the application of the Company's accounting policy, judgment is exercised by management in the determination of residual values and useful lives.

Depreciation methods, useful lives and residual values are reviewed at each financial year-end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the depreciation period or method as appropriate on a prospective basis.

Amongst other factors, consideration is given to climate change and policy risks and uncertainties as set out on page 11 when determining the useful lives of assets. The determination of useful lives also considers the Company's carbon emissions reduction targets. Capital expenditure will continue to be required for ongoing projects and the useful lives of future capital expenditure may differ from current assumptions; however, there were no significant changes in the estimates of useful lives during the current financial year.

While future developments in technology may also result in a risk of obsolescence for the Company's current portfolio of plant and machinery assets, the expected timeframe for these developments is not currently anticipated to impact their remaining useful lives as the majority of the Company's plant and machinery assets will be fully depreciated within 10 years.

Depreciation and depletion is calculated to write off the book value of each item of property, plant and equipment over its useful economic life on a straightline basis at the following rates:

Land and buildings

The book value of mineral-bearing land, less an estimate of its residual value, is depleted over the period of the mineral extraction in the proportion which production for the year bears to the latest estimates of proven and probable mineral reserves. Land, other than mineral-bearing land, is not depreciated. In general, buildings are depreciated at 2.5% per annum (p.a.).

Plant and machinery

These are depreciated at rates ranging from 3.3% p.a. to 20% p.a. depending on the type of asset. Plant and machinery includes transport vehicles which are, on average, depreciated at 20% p.a.

Business combinations – Note 29

The Company applies the acquisition method in accounting for business combinations. The cost of an acquisition is measured as the aggregate of the consideration transferred (excluding amounts relating to the settlement of pre-existing relationships), the amount of any non-controlling interest in the acquiree and, in a business combination achieved in stages, the acquisition date fair value of the acquirer's previously-held equity interest in the acquiree. Transaction costs that the Company incurs in connection with a business combination are expensed as incurred.

To the extent that settlement of all or any part of consideration for a business combination is deferred, the fair value of the deferred component is determined through discounting the amounts payable to their present value at the date of exchange. The discount component is unwound as an interest charge in the Consolidated Income Statement over the life of the obligation. Any contingent consideration is recognized at fair value at the acquisition date and included in the cost of the acquisition. The fair value of contingent consideration at acquisition date is arrived at through discounting the expected payment to present value. In general, in order for contingent consideration to become payable, pre-defined profit and/or profit/net asset ratios must be exceeded. Subsequent changes to the fair value of the contingent consideration will be recognized in profit or loss unless the contingent consideration is classified as equity, in which case it is not remeasured and settlement is accounted for within equity.

The assets and liabilities arising on business combination activity are measured at their acquisition-date fair values. Contingent liabilities assumed in business combination activity are recognized as of the acquisition date, where such contingent liabilities are present obligations arising from past events and their fair value can be measured reliably. In the case of a business combination achieved in stages, the acquisition date fair value of the acquirer's previously-held equity interest in the acquiree is remeasured to fair value as at the acquisition date through profit or loss. When the initial accounting for a business combination is determined provisionally, any adjustments to the provisional values allocated to the consideration, identifiable assets or liabilities (and contingent liabilities, if relevant) are made within the measurement period, a period of no more than one year from the acquisition date.

Goodwill – Note 13

Goodwill arising on a business combination is initially measured at cost, being the excess of the cost of an acquisition over the fair value of the net identifiable assets and liabilities assumed at the date of acquisition and relates to the future economic benefits arising from assets which are not capable of being individually identified and separately recognized. Following initial recognition, goodwill is measured at cost less any accumulated impairment losses. If the cost of the acquisition is lower than the fair value of the net assets of the subsidiary acquired, the identification and measurement of the related assets and liabilities and contingent liabilities are revisited and the cost is reassessed with any remaining balance recognized immediately in the Consolidated Income Statement.

The carrying amount of goodwill in respect of associates and joint ventures is included in investments accounted for using the equity method (i.e. within equity method investments) in the Consolidated Balance Sheet.

Where a subsidiary is divested of or terminated through closure, any goodwill attributable to that subsidiary is included in the determination of the net profit or loss on divestiture/termination.

Intangible assets (other than goodwill) arising on business combinations – Note 13

An intangible asset is capitalized separately from goodwill as part of a business combination at cost (fair value at date of acquisition).

Subsequent to initial recognition, intangible assets are carried at cost less any accumulated amortization and any accumulated impairment losses. The carrying values of definite-lived intangible assets (the Company does not currently have any indefinite-lived intangible assets other than goodwill) are reviewed for indicators of impairment at each reporting date and are subject to impairment testing when events or changes in circumstances indicate that the carrying values may not be recoverable.

Intangible assets are amortized on a straight-line basis. In general, based on the current composition of definite-lived intangible assets, the useful lives for customer-related intangible assets range from five to twenty years and the useful lives for marketing-related intangible assets range from ten to thirty years. Amortization periods, useful lives, expected patterns of consumption and residual values are reviewed at each financial year-end. Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period or method as appropriate on a prospective basis.

Provisions for liabilities – Note 25

A provision is recognized when the Company has a present obligation (either legal or constructive) as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation.

Where the Company anticipates that a provision will be reimbursed, the reimbursement is recognized as a separate asset only when it is virtually certain that the reimbursement will arise. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation.

The increase in the provision due to the passage of time is recognized as an interest expense.

Contingent liabilities arising on business combinations are recognized as provisions if the contingent liability can be reliably measured at its acquisition date fair value. Provisions are not recognized for future operating losses. Management is not aware of any potential changes to key assumptions that have a significant risk of causing a material adjustment to the carrying value of provisions within the next financial year; however, due to the nature of some of our provisions, estimates may depend on the outcome of future events and may need to be revised as circumstances change in future accounting periods. Refer to Note 25 for the expected timing of outflows by provisions category.

Environmental and remediation provisions

The measurement of environmental and remediation provisions is based on an evaluation of currently available facts with respect to each individual site and considers factors such as existing technology, currently enacted laws and regulations and prior experience in remediation of sites. Inherent uncertainties exist in such evaluations primarily due to unknown conditions, changing governmental regulations and legal standards regarding liability, the protracted length of the clean-up periods and evolving technologies.

The environmental and remediation liabilities provided for in the Consolidated Financial Statements reflect the judgment applied by management in respect of information available at the time of determining the liability and are adjusted periodically as remediation efforts progress or as additional technical or legal information becomes available.

The impact of climate change and policy risks and uncertainties as set out on page 11 on environmental and remediation provisions has been considered, specifically the impact on timing and extent of costs and cash outflows. Changes to legislation, including those relating to climate change, are factored into the assessment of provisions when the legislation is virtually certain to be enacted. The Company's carbon emissions reduction targets are also considered in these judgments. The measurement of our provisions is based on reasonable and supportable assumptions that represent management's current best estimate of the range of economic conditions that will exist in the foreseeable future. These assumptions do not have a significant risk of resulting in a material adjustment to the carrying value of these provisions within the next financial year and therefore do not represent a major source of estimation uncertainty.

Due to the inherent uncertainties described above, many of which are not under management's control, actual costs and cash outflows could differ if management used different assumptions or if different conditions occur in future accounting periods.

Legal contingencies

The status of each significant claim and legal proceeding in which the Company is involved is reviewed by management on a periodic basis and the Company's potential financial exposure is assessed. If the potential loss from any claim or legal proceeding is considered probable, and the amount can be reliably estimated, a liability is recognized for the estimated loss.

Because of the uncertainties inherent in such matters, the related provisions are based on the best information available at the time; the issues taken into account by management and factored into the assessment of legal contingencies include, as applicable, the status of settlement negotiations, interpretations of contractual obligations, prior experience with similar contingencies/claims, and advice obtained from legal counsel and other third parties. As additional information becomes available on pending claims, the potential liability is reassessed and revisions are made to the amounts accrued where appropriate. Such revisions in the judgments and estimates of the potential liabilities could have an impact on the results of operations and financial position of the Company in future accounting periods.

Insurance provisions

Insurance provisions are subject to actuarial valuation and are based on actuarial triangulations which are extrapolated from historical claims experience. These provisions include claims which are classified as "incurred but not reported", the status of which are reviewed periodically by management, in conjunction with appropriately qualified advisors. Changes in actuarial methodologies and assumptions, along with the receipt of new information, could have an impact on the financial position of the Company through recognition of additional, or release of, provisions in future accounting periods.

Leases – Notes 12 and 19

The Company enters into leases for a range of assets, principally relating to property. These property leases have varying terms, renewal rights and escalation clauses, including periodic rent reviews linked with a consumer price index and/or other indices. The Company also leases plant and machinery, vehicles and equipment. The terms and conditions of these leases do not impose significant financial restrictions on the Company.

A contract contains a lease if it is enforceable and conveys the right to control the use of a specified asset for a period of time in exchange for consideration, which is assessed at inception. A right-of-use asset and lease liability are recognized at the commencement date for contracts containing a lease, with the exception of leases with a term of 12 months or less which do not contain a purchase option, leases where the underlying asset is of low value and leases with associated payments that vary directly in line with usage or sales. The commencement date is the date at which the asset is made available for use by the Company.

The lease liability is initially measured at the present value of the future lease payments, discounted using the incremental borrowing rate or the interest rate implicit in the lease, if this is readily determinable, over the remaining lease term. Lease payments include fixed payments less any lease incentives receivable, variable payments that are dependent on a rate or index known at the commencement date, amounts expected to be paid under residual value guarantees and any payments for an optional renewal period and purchase and termination option payments, if the Company is reasonably certain to exercise those options. The lease term is the non-cancellable period of the lease adjusted for any renewal or termination options which are reasonably certain to be exercised.

Variable lease payments that do not depend on an index or a rate and rentals relating to low-value or short-term leases are recognized as an expense in the period in which they are incurred. Management applies judgment in determining whether it is reasonably certain that a renewal, termination or purchase option will be exercised.

Incremental borrowing rates are calculated using a portfolio approach, based on the risk profile of the entity holding the lease and the term and currency of the lease.

After initial recognition, the lease liability is measured at amortized cost using the effective interest method. It is remeasured when there is a change in future lease payments or when the Company changes its assessment of whether it is reasonably certain to exercise an option within the contract. A corresponding adjustment is made to the carrying amount of the right-of-use asset.

The right-of-use asset is initially measured at cost, which comprises the lease liability adjusted for any payments made at or before the commencement date, initial direct costs incurred, lease incentives received and an estimate of the cost to dismantle or restore the underlying asset or the site on which it is located at the end of the lease term. The right-of-use asset is depreciated over the lease term or, where a purchase option is reasonably certain to be exercised, over the useful economic life of the asset in line with depreciation rates for owned property, plant and equipment. The right-of-use asset is tested periodically for impairment if an impairment indicator is considered to exist.

Non-lease components in a contract such as maintenance and other service charges are separated from lease payments and are expensed as incurred.

Inventories – Note 15

Inventories are stated at the lower of cost and net realizable value. Cost is based on the first-in/first-out principle or weighted average principle and includes all expenditure incurred in acquiring the inventories and bringing them to their present location and condition. Raw materials are valued on the basis of purchase cost on a first-in/first-out basis. In the case of finished goods and work-in-progress, cost includes direct materials, direct labor and attributable overheads based on normal operating capacity and excludes borrowing costs.

Net realizable value is the estimated proceeds of sale less all further costs to completion, and less all costs to be incurred in marketing, selling and distribution. Estimates of net realizable value are based on the most reliable evidence available at the time the estimates are made, taking into consideration fluctuations of price or cost directly relating to events occurring after the end of the period, the likelihood of short-term changes in buyer preferences, product obsolescence or perishability (all of which are generally low given the nature of the Company's products) and the purpose for which the inventory is held.

Climate change and policy risks and uncertainties as set out on page 11 may also result in additional costs, changes to selling prices or product obsolescence impacting the valuation of inventories in future years. However, due to the short inventory turnover cycle there were no material write-downs of inventories required in this regard during the current financial year.

Materials and other supplies held for use in the production of inventories are not written down below cost if the finished goods, in which they will be incorporated, are expected to be sold at or above cost.

Trade and other receivables – Note 16

The classification of financial assets depends on the Company's business model for managing the financial assets and the contractual terms of the cash flows.

Trade and other receivables (including contract assets) are recognized when the Company becomes a party to the contract and has a legal right to receive cash. Trade receivables (including contract assets) are carried at original invoice amount, which is equivalent to amortized cost, less an expected credit loss provision.

The Company assesses on a forward-looking basis the expected credit losses associated with trade and other receivables at each balance sheet date. The expected credit loss is estimated as the difference between the asset's carrying amount and the present value of the future cash flows the Company expects to receive. Where the present value of such cash flows is lower than the carrying value, the carrying value of the asset is adjusted, with the impairment gain or loss recognized in the Consolidated Income Statement.

Further detail on the Company's methodology for providing for expected credit losses is provided in Note 16.

Cash and cash equivalents – Note 22

Cash and cash equivalents comprise cash balances held for the purpose of meeting short-term cash commitments and investments which are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Cash and cash equivalents are classified as financial assets measured at amortized cost or, in the case of certain money market deposits, fair value through profit or loss.

Bank overdrafts are included within current interest-bearing loans and borrowings in the Consolidated Balance Sheet. Where the overdrafts are repayable on demand and form an integral part of cash management, they are netted against cash and cash equivalents for the purposes of the Consolidated Statement of Cash Flows.

Interest-bearing loans and borrowings – Note 23

All loans and borrowings are initially recorded at the fair value of the consideration received net of directly attributable transaction costs. The computation of amortized cost includes any issue costs and any discount or premium materializing on settlement. Subsequent to initial recognition, current and non-current interest-bearing loans and borrowings are, in general, measured at amortized cost employing the effective interest methodology. Fixed rate loans and borrowings, which have been hedged to floating rates (using interest rate swaps), are measured at amortized cost adjusted for changes in value attributable to the hedged risks arising from changes in underlying market interest rates.

Borrowing costs arising on financial instruments are recognized as an expense in the period in which they are incurred (unless capitalized as part of the cost of property, plant and equipment).

Derivative financial instruments and hedging practices – Note 24

In order to manage interest rate, foreign currency and commodity risks and to realize the desired currency profile of borrowings, the Company employs derivative financial instruments (principally interest rate swaps, currency forwards and currency swaps). Derivative financial instruments are recognized initially at fair value on the date on which a derivative contract is entered into and are subsequently remeasured at fair value. The carrying value of derivatives is fair value based on discounted future cash flows and adjusted for counterparty risk. Future cash flows are estimated based on observable market data at the valuation date. Fixed and floating rate cash flows are discounted at future interest rates and translated at period-end foreign exchange rates. Short-dated forward foreign exchange contracts are used to hedge the forward foreign exchange risk on currency exposures. The forward price elements to these contracts are excluded from the hedge.

At the inception of a derivative transaction, the Company documents the relationship between the hedged item and the hedging instrument together with its risk management objective and the strategy underlying the proposed transaction. The Company also documents its assessment, both at the inception of the hedging relationship and subsequently on an ongoing basis, of the effectiveness of the hedging instrument in offsetting movements in the fair values or cash flows of the hedged items. Where derivatives do not fulfill the criteria for hedge accounting, changes in fair values are reported in the Consolidated Income Statement and Consolidated Balance Sheet.

Fair value and cash flow hedges

The Company uses fair value hedges and cash flow hedges in its treasury activities. For the purposes of hedge accounting, hedges are classified either as fair value hedges (which entail hedging the exposure to movements in the fair value of a recognized asset or liability or an unrecognized firm commitment that could affect profit or loss) or cash flow hedges (which hedge exposure to fluctuations in future cash flows derived from a particular risk associated with a recognized asset or liability, or a highly probable forecast transaction that could affect profit or loss).

Where the conditions for hedge accounting are satisfied and the hedging instrument concerned is classified as a fair value hedge, any gain or loss stemming from the remeasurement of the hedging instrument to fair value is reported in the Consolidated Income Statement. In addition, any gain or loss on the hedged item which is attributable to the hedged risk is adjusted against the carrying amount of the hedged item and reflected in the Consolidated Income Statement. Where the adjustment is to the carrying amount of a hedged interest-bearing financial instrument, the adjustment is amortized to the Consolidated Income Statement with the objective of achieving full amortization by maturity.

Where a derivative financial instrument is designated as a hedge of the variability in cash flows of a recognized asset or liability or a highly probable forecast transaction that could affect profit or loss, the effective part of any gain or loss on the derivative financial instrument is recognized as other comprehensive income, net of the income tax effect, with the ineffective portion being reported in the Consolidated Income Statement. The associated gains or losses that had previously been recognized as other comprehensive income are reclassified to the Consolidated Income Statement contemporaneously with the impact of the hedged item, unless the transaction results in the recognition of a non-financial asset or a non-financial liability, in which case the gains and losses previously recognized in other comprehensive income and accumulated in equity are removed from equity and included in the initial measurement of the cost of the non-financial asset or non-financial liability.

Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated or exercised or the relationship no longer qualifies for hedge accounting. At that point in time, any cumulative gain or loss on the hedging instrument recognized as other comprehensive income remains there until the forecast transaction occurs. If a hedged transaction is no longer anticipated to occur, the net cumulative gain or loss previously recognized as other comprehensive income is transferred to the Consolidated Income Statement in the period.

Net investment hedges

Where foreign currency swaps provide a hedge against a net investment in a foreign operation, and the hedge is deemed to be effective, foreign exchange differences are taken directly to a foreign currency translation reserve. The ineffective portion of any gain or loss on the hedging instrument is recognized immediately in the Consolidated Income Statement. Cumulative gains and losses remain in equity until disposal of the net investment in the foreign operation at which point the related differences are transferred to the Consolidated Income Statement as part of the overall gain or loss on sale.

Share capital and dividends – Notes 28 and 10

Treasury shares and own shares

Ordinary Shares acquired by the Parent Company through the share buyback program (Treasury shares) or purchased by the Employee Benefit Trust on behalf of the Parent Company under the terms of the Performance Share Plan and the Restricted Share Plan (own shares) are deducted from equity and presented on the face of the Consolidated Balance Sheet. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Parent Company's Ordinary Shares. A financial liability is recorded if a contractual obligation to repurchase shares exists at the balance sheet date.

Dividends

Dividends on Ordinary Shares are recognized as a liability in the Consolidated Financial Statements in the period in which they are declared by the Parent Company and approved by shareholders in respect of final dividends. In respect of interim dividends, a liability is recognized when the Company has an obligation to pay.

Other reserves

Other reserves primarily comprise reserves relating to the Company's share-based payments expense.

Foreign currency translation

Items included in the financial statements of each of the Company's entities are measured using the currency of the primary economic environment in which the entity operates (the functional currency). The Consolidated Financial Statements are presented in U.S. Dollar, which is the presentation currency of the Company. As disclosed in Note 2 of the Parent Company financial statements, the Parent Company changed its functional currency from euro to U.S. Dollar, effective January 1, 2024.

Transactions in foreign currencies are recorded at the rate of exchange in effect at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange in effect at the balance sheet date. All currency translation differences are taken to the Consolidated Income Statement with the exception of all monetary items that provide an effective hedge for a net investment in a foreign operation. These are recognized in other comprehensive income until the disposal of the net investment, at which time they are recognized in the Consolidated Income Statement.

Results and cash flows of subsidiaries, joint ventures and associates with non-U.S. Dollar functional currencies have been translated into U.S. Dollar at average exchange rates for the period, and the related balance sheets have been translated at the rates of exchange in effect at the balance sheet date. Adjustments arising on translation of the results and net assets of non-U.S. Dollar subsidiaries, joint ventures, associates and joint operations are recognized in a separate translation reserve within equity, net of differences on related currency borrowings. All other translation differences are taken to the Consolidated Income Statement. Goodwill and fair value adjustments arising on acquisition of a foreign operation are regarded as assets and liabilities of the foreign operation and are translated accordingly.

Notes on Consolidated Financial Statements

1. Revenue

CRH is a leading provider of building materials solutions that build, connect and improve our world. As the essential partner for road and critical infrastructure, commercial building projects and outdoor living solutions, CRH's unique offering of materials, products and value-added services helps to deliver a more resilient and sustainable built environment.

During the fourth quarter of 2024, the Company changed its segments as outlined in Note 2. The Company has three operating segments (as identified under IFRS 8 Operating Segments) generating revenue through the following activities:

Our Americas Materials Solutions segment provides solutions for the construction and maintenance of public infrastructure and commercial and residential buildings in North America. The primary materials produced by this segment include aggregates, cement, readymixed concrete and asphalt. This segment also provides paving and construction services for customers.

Our Americas Building Solutions segment manufactures, supplies and delivers solutions for the built environment in communities across North America. Our subsidiaries within this segment offer building and infrastructure solutions serving complex critical infrastructure (such as water, energy, transportation and telecommunications projects) and outdoor living solutions for enhancing private and public spaces.

Our International Solutions segment is a leading provider of integrated building solutions primarily across Europe and Australia. The business integrates materials, products, and services to provide complete building solutions for use in the construction and renovation of critical infrastructure, commercial and residential buildings and outdoor living spaces.

A. Disaggregated revenue

In the following tables, revenue is disaggregated by primary geographic market and by principal activities and products.

The vertically integrated Essential Materials businesses manufacture and supply aggregates and cement for use in a range of construction and industrial applications.

Road Solutions support the manufacturing, installation and maintenance of public highway infrastructure projects and commercial infrastructure.

Building & Infrastructure Solutions connect, protect and transport critical water, energy and telecommunications infrastructure and deliver complex commercial building projects.

Outdoor Living Solutions integrate specialized materials, products and design features to enhance the quality of private and public spaces.

Revenue from external customers (as defined in IFRS 8) attributable to countries of operation greater than 10% are included below. Further operating segment disclosures are set out in Note 2.

	Americas Materials Solutions	Americas Building Solutions	International Solutions	Total	Americas Materials Solutions	Americas Building Solutions	International Solutions	Total
	2024	2024	2024	2024	2023	2023	2023	2023
Primary geographic markets	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m
United States	14,975	6,736	123	21,834	14,088	6,692	150	20,930
Rest of World (i)	1,198	323	1,199	2,720	1,347	325	633	2,305
United Kingdom	–	–	3,994	3,994	–	–	4,312	4,312
Rest of Europe (ii)	–	–	7,024	7,024	–	–	7,402	7,402
Total	16,173	7,059	12,340	35,572	15,435	7,017	12,497	34,949

(i) The Rest of World principally includes Australia, Canada and the Philippines.

(ii) The Rest of Europe principally includes Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Luxembourg, the Netherlands, Poland, Romania, Serbia, Slovakia, Spain, Sweden, Switzerland and Ukraine. For the year ended December 31, 2024, revenue generated in the Republic of Ireland represented approximately 2% (2023: 3%) of our consolidated revenues.

	Americas Materials Solutions	Americas Building Solutions	International Solutions	Total	Americas Materials Solutions	Americas Building Solutions	International Solutions	Total
	2024	2024	2024	2024	2023	2023	2023	2023
Principal activities and products	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m
Essential Materials	4,793	–	4,767	9,560	4,583	–	4,876	9,459
Road Solutions (i)	11,380	–	4,930	16,310	10,852	–	4,814	15,666
Building & Infrastructure Solutions (ii)	–	2,569	1,998	4,567	–	2,524	2,174	4,698
Outdoor Living Solutions	–	4,490	645	5,135	–	4,493	633	5,126
Total	16,173	7,059	12,340	35,572	15,435	7,017	12,497	34,949

(i) Revenue from contracts with customers in the Road Solutions principal activities and products category that is recognized over time amounts to \$8,306 million (2023: \$8,150 million); Americas Materials Solutions \$6,426 million (2023: \$6,146 million); International Solutions \$1,880 million (2023: \$2,004 million).

(ii) Revenue from contracts with customers in the Building & Infrastructure Solutions principal activities and products category that is recognized over time amounts to \$567 million (2023: \$643 million); Americas Building Solutions \$81 million (2023: \$70 million); International Solutions \$486 million (2023: \$573 million).

There are no material dependencies or concentrations of individual customers which would warrant disclosure under IFRS 8. The individual entities within the Company have a large number of customers spread across various activities, end uses and geographies.

B. Contract balances

For information on the Company's construction contract balances, including movements during the year, refer to Notes 15, 16 and 17. The decrease in contract assets was primarily attributed to revenue recognized on certain contracts partially offset by the timing of billings. The increase in construction contract-related payables was due to the timing of advance payments and revenue recognized during the period.

C. Unsatisfied long-term construction contracts and other performance obligations

Revenue yet to be recognized from long-term construction contracts, primarily within our Americas Materials Solutions and International Solutions businesses, amounted to \$3,551 million at December 31, 2024 (2023: \$3,725 million). The Company has applied the practical expedient set out in IFRS 15 whereby revenue yet to be recognized on contracts that had an original expected duration of less than one year is not disclosed. The majority of open contracts at December 31, 2024, will close and revenue will be recognized within 12 months of the balance sheet date.

2. Segment Information

During the fourth quarter of 2024, the Company's reportable segments changed to the following three segments: Americas Materials Solutions; Americas Building Solutions; and International Solutions. The new segment structure reflects the nature of the financial information reported to and assessed by the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer, who are together determined to fulfill the role of CODM (as defined in IFRS 8). Comparative segment information for 2023 has been restated where necessary to reflect the new format for segmentation. No operating segments have been aggregated to form these reportable segments.

The principal factors employed in the identification of the three segments reflected in this Note include:

• the Company's organizational structure in 2024 (during 2024 the Divisional President fulfilled the role of "segment manager" as outlined in IFRS 8);
• the nature of the reporting lines to the CODM (as defined in IFRS 8); and
• the structure of internal reporting documentation such as management accounts and budgets.

The CODM monitors the operating results of segments separately in order to allocate resources between segments and to assess performance. Segment performance is evaluated using Adjusted EBITDA which is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, impairment charges, gain/loss on divestitures and unrealized gain/loss on investments, income/loss from equity method investments and substantial acquisition-related costs. Given that net finance costs and income tax are managed on a centralized basis, these items are not allocated between operating segments for the purposes of the information presented to the CODM and are accordingly omitted from the detailed segmental analysis below. There are no asymmetrical allocations to reporting segments which would require disclosure.

A. Operating segments disclosures - Consolidated Income Statement data

		2024
	Americas Materials Solutions	Americas Building Solutions	International Solutions	Total
	\$m	\$m	\$m	\$m
Revenue	16,173	7,059	12,340	35,572
Less:
Labor	3,496	1,447	2,396	7,339
Energy costs	743	121	981	1,845
Other segment items (i)	8,140	4,027	7,105	19,272
Adjusted EBITDA	3,794	1,464	1,858	7,116

2023
Americas Materials Solutions	Americas Building Solutions	International Solutions	Total
\$m	\$m	\$m	\$m
15,435	7,017	12,497	34,949
3,279	1,306	2,263	6,848
805	122	1,297	2,224
8,205	4,068	7,104	19,377
3,146	1,521	1,833	6,500

(i) The nature of other segment items is similar for each segment and primarily includes raw materials, haulage costs, subcontractor costs and other operating expenses. As a result of our integrated building solutions model, the composition of other segment items is such that at a segment level none of these items are individually material in determining segment performance.

	2024	2023
	\$m	\$m
Adjusted EBITDA	7,116	6,500
Depreciation, depletion, amortization and impairment (i)	(2,196)	(2,213)
Substantial acquisition-related costs	(46)	–
Operating profit	4,874	4,287
Gain on divestitures and unrealized gains on investments (ii) (iii)	264	–
Finance costs less income (iii)	(520)	(251)
Other financial expense	(60)	(54)
Loss from equity method investments	(108)	(17)
Profit before tax from continuing operations	4,450	3,965

(i) Depreciation, depletion, amortization and impairment for each of the segments for the years ended December 31 were:

	2024	2023
	\$m	\$m
Americas Materials Solutions	(914)	(909)
Americas Building Solutions	(410)	(362)
International Solutions	(872)	(942)
Total depreciation, depletion, amortization and impairment	(2,196)	(2,213)

(ii) The gain on divestitures and unrealized gains on investments for each of the segments for the years ended December 31 were:

	2024	2023
	\$m	\$m
Americas Materials Solutions	1	–
Americas Building Solutions	1	–
International Solutions	262	–
Total gain on divestitures and unrealized gains on investments	264	–

(iii) Unrealized gains on investments of \$56 million (2023: \$nil million) are included in Finance costs in the Consolidated Income Statement and are reported in the International Solutions segment.

B. Operating segments disclosures - Consolidated Balance Sheet data

	As at December 31
	Total assets		Total liabilities
	2024	2023	2024	2023
	\$m	\$m	\$m	\$m
Americas Materials Solutions	21,336	17,526	3,527	3,459
Americas Building Solutions	8,981	7,960	1,729	1,627
International Solutions	15,022	13,341	4,927	4,657
Total	45,339	38,827	10,183	9,743
Reconciliation to total assets as reported in the Consolidated Balance Sheet:
Equity method investments	737	620
Other financial assets (current and non-current)	236	81
Derivative financial instruments (current and non-current)	69	48
Income tax assets (current and deferred)	297	208
Cash and cash equivalents	3,720	6,341
Assets held for sale	–	1,272
Total assets as reported in the Consolidated Balance Sheet	50,398	47,397
Reconciliation to total liabilities as reported in the Consolidated Balance Sheet:
Interest-bearing loans and borrowings (current and non-current)			13,968	11,642
Derivative financial instruments (current and non-current)			96	85
Income tax liabilities (current and deferred)			3,809	3,489
Liabilities associated with assets classified as held for sale			–	395
Total liabilities as reported in the Consolidated Balance Sheet			28,056	25,354

C. Operating segments disclosures - other items

Additions to non-current assets

	Year ended December 31 Property, plant and equipment (i) and intangible assets (Note 12, 13, 19)
	2024	2023
	\$m	\$m
Americas Materials Solutions	1,194	898
Americas Building Solutions	541	446
International Solutions	1,164	766
Total	2,899	2,110

(i) Additions to property, plant and equipment include \$3 million (2023: \$10 million) relating to leased mineral reserves which fall outside the scope of IFRS 16 Leases.

D. Information about geographical areas

The non-current assets¹ (as defined in IFRS 8) attributable to all countries of operation, for which revenue exceeds 10% of total external Company revenue, are set out below.

	As at December 31 Non-current assets*
	2024	2023
	\$m	\$m
United Kingdom	2,447	2,469
United States	22,845	18,303
Other	10,386	9,163
Total	35,678	29,935

(i) Non-current assets in the Republic of Ireland represented approximately 2% (2023: 1%) of our consolidated non-current assets.

¹ * Non-current assets comprise property, plant and equipment, intangible assets and equity method investments.

3. Cost Analysis

	2024	2023
	\$m	\$m
Cost of sales analysis
Raw materials and goods for resale	7,517	7,350
Employment costs (Note 6)	4,554	4,300
Energy conversion costs	1,702	2,066
Repairs and maintenance	1,308	1,346
Depreciation, depletion, amortization and impairment (i)	1,682	1,506
Change in inventory	(245)	(60)
Other production expenses (primarily sub-contractor costs)	6,429	6,411
Total	22,947	22,919
Operating costs analysis
Selling and distribution costs	5,256	5,051
Administrative expenses	2,495	2,692
Total	7,751	7,743

(i) Depreciation, depletion, amortization and impairment analysis:

	Cost of sales		Operating costs		Total
	2024	2023	2024	2023	2024	2023
	\$m	\$m	\$m	\$m	\$m	\$m
Depreciation and depletion (Note 12, 19)	1,602	1,474	281	243	1,883	1,717
Amortization of intangible assets (Note 13)	2	2	150	137	152	139
Impairment of property, plant and equipment (Note 12, 19)	78	30	11	–	89	30
Impairment of intangible assets (Note 13)	–	–	72	327	72	327
Total	1,682	1,506	514	707	2,196	2,213

4. Auditor's Remuneration

In accordance with statutory requirements in Ireland, fees for professional services provided by the Company's independent auditor in respect of each of the following categories were:

		Deloitte Ireland (statutory auditor)		Deloitte (network firms)	Total
	2024	2023	2024	2023	2024	2023
	\$m	\$m	\$m	\$m	\$m	\$m
Audit fees (i) (ii)	13	14	18	18	31	32
Other audit-related assurance fees (ii)	1	2	–	–	1	2
Tax advisory services (ii)	–	–	–	–	–	–
Total	14	16	18	18	32	34

(i) Audit of the Company accounts includes the audit of internal control over financial reporting and parent and subsidiary statutory audit fees, but excludes \$3 million (2023: \$3 million) paid to auditors other than Deloitte.

(ii) In accordance with the Companies Act 2014, audit fees amounted to \$31 million (2023: \$32 million). Other audit-related assurance fees, amounted to \$1 million (2023: \$2 million) and tax advisory services, amount to \$nil million (2023: \$nil million).

There were no other fees for services provided by the Company's independent auditor (2023: \$nil million).

5. Divestitures²

In November 2023, the Company entered into a sales agreement with SigmaRoc plc. to divest of its Lime operations in Europe for consideration of \$1.1 billion. The transaction was structured in three phases. The first phase of the transaction, comprising the Company's Lime operations in Germany, Czech Republic and Ireland, closed on January 1, 2024, and the second phase comprising the operations in the United Kingdom, closed on March 27, 2024. The third phase, comprising the operations in Poland, closed on August 30, 2024. In total, the divestiture resulted in a pre-tax gain of \$178 million.

The disposal of certain cement, aggregates and readymixed concrete operations in Quebec, Canada, previously classified as held for sale, completed during 2024.

The assets associated with these transactions comprised part of our International Solutions and Americas Materials Solutions segments, respectively. As the businesses were divested in 2024, all opening balances have been reclassified back to the relevant asset and liability categories prior to their divestiture for presentation purposes.

The proceeds and related gain on divestitures for the financial year are set out as follows:

	2024
	\$m
Assets/(liabilities) divested of at net carrying amount:
- long-lived assets*	1,194
- cash and cash equivalents	69
- inventories, receivables, payables and provisions	22
- current tax	1
- lease liabilities	(8)
- deferred tax	(137)
- retirement benefit obligations	(46)
- non-controlling interests	(19)
Net assets divested	1,076
Reclassification of currency translation effects on divestiture	37
Total	1,113
Proceeds from divestitures (net of divestiture costs)	1,321
Gain on divestitures	208
Net cash inflow arising on divestiture
Proceeds from divestitures	1,321
Less: cash and cash equivalents divested	(69)
Less: deferred proceeds arising on divestiture (Note 18)	(210)
Less: asset exchange	(41)
Total net cash inflow arising on divestiture	1,001

During the year ended December 31, 2023, the Company did not divest of any businesses.

^* Long-lived assets comprise property, plant and equipment, intangible assets and equity method investments.²

6. Employment

The average number of employees is as follows:

	Year ended December 31
	2024	2023
Americas Materials Solutions	30,821	30,275
Americas Building Solutions	16,552	16,134
International Solutions	32,397	32,078
Total	79,770	78,487

Employment costs charged in the Consolidated Income Statement are analyzed as follows:

	2024	2023
	\$m	\$m
Wages and salaries	5,536	5,142
Social welfare costs	556	524
Redundancy, healthcare and other employment benefit costs	732	697
Share-based payment expense (Note 7)	125	123
Total retirement benefits expense (Note 27)	394	363
Total	7,343	6,849
Total charge analyzed between:
Cost of sales	4,554	4,300
Operating costs	2,785	2,548
Finance costs (net) - applicable to retirement benefit obligations (Note 8)	4	1
Total	7,343	6,849

7. Share-based Payment Expense

	2024	2023
	\$m	\$m
Performance Share Plan expense	123	120
Share option expense	2	3
Total share-based payment expense	125	123

Share-based payment expense relates primarily to awards granted under the 2014 Performance Share Plan and the Company's Savings-related Share Option Schemes. The expense is reflected in operating costs in the Consolidated Income Statement.

2014 Performance Share Plan

Details of the awards made under the 2014 Performance Share Plan are summarized below. An expense of \$123 million was recognized in 2024 (2023: \$120 million). Details of awards granted under the 2014 Performance Share Plan

			Number of shares
	Share price at date of award	Period to earliest release date	Initial award (i)	Net outstanding at December 31, 2024
Granted in 2024	\$79.51	3 years	1,856,679	1,827,358
Granted in 2023	€48.63	3 years	2,979,818	2,876,142

(i) Numbers represent the initial awards. The Compensation Committee has determined that dividend equivalents will accrue on awards under the 2014 Performance Share Plan. Subject to satisfaction of the applicable performance criteria, such dividend equivalents will be released to participants in the form of additional shares on vesting.

20% of each award made is subject to TSR performance measured against a tailored peer group; 20% is subject to a RONA metric; 15% is subject to ESG metrics; with the remaining 45% subject to a cumulative cash flow metric. Performance for the awards will be assessed over a three-year period.

The fair values assigned to the portion of awards which are subject to TSR performance against peers was \$59.97 (2023: \$35.52/€33.33). The fair value of these awards was calculated using a TSR pricing model taking account of peer group TSR, volatilities and correlations together with the following assumptions:

	2024	2023
Risk-free interest rate (%)	4.44	3.16
Expected volatility (%)	30.3	28.9

The expected volatility was determined using a historical sample of daily CRH share prices.

The fair value of (i) the portion of awards subject to a RONA metric; (ii) the portion of awards subject to ESG metrics; (iii) the portion of awards subject to cash flow performance; and (iv) the awards with no performance conditions (which are subject to a two-year service period) was calculated as the closing CRH share price at the date the award was granted.

2010 and 2021 Savings-related Share Option Schemes

In April 2021, shareholders approved the adoption of the 2021 Savings-related Share Option Schemes (Share Option Schemes), which replaced the schemes approved by shareholders in May 2010. Under both schemes, participants may save up to €500/Stg£500 per month from their net salaries for a fixed term of three or five years and at the end of the savings period they have the option to buy CRH shares at a discount of up to 15% of the market price on the date of invitation of each savings contract.

Details of options granted under the Share Option Schemes

	Weighted average exercise	Number of options	Weighted average exercise	Number of options
	price	2024	price	2023
Outstanding at beginning of year	€24.10/Stg£26.75	858,388	€24.20/Stg£26.52	1,044,130
Exercised (i)	€24.09/Stg£27.40	(236,581)	€24.02/Stg£21.93	(86,520)
Lapsed	€23.96/Stg£26.57	(58,826)	€26.07/Stg£27.31	(99,222)
Outstanding at end of year	€24.24/Stg£26.54	562,981	€24.10/Stg£26.75	858,388
Exercisable at end of year	€24.24/Stg£31.04	56,840	€23.39/Stg£20.83	13,385

(i) The weighted average share price at the date of exercise of these options was €84.58 (2023: €48.56).

Pursuant to the 2010 and 2021 Share Option Schemes operated by the Company, no options over CRH plc's Ordinary Shares were granted to employees in 2024 (2023: nil).

	2024	2023
Weighted average remaining contractual life for the share options outstanding at December 31 (years)	1.13	1.66
euro-denominated options outstanding at end of year (number)	4,789	43,363
Range of exercise prices (€)	24.24	23.39-24.24
Pound Sterling-denominated options outstanding at end of year (number)	558,192	815,025
Range of exercise prices (Stg£)	20.83-31.04	20.11-31.04

8. Finance Costs and Finance Income

	2024	2023
	\$m	\$m
Finance costs
Interest payable on borrowings	477	349
Net cost on interest rate and currency swaps	67	64
Mark-to-market of derivatives and related fixed rate debt:
- interest rate swaps (i)	(19)	(23)
- currency forwards and currency swaps	3	(5)
- fixed rate debt (i)	16	22
Net loss on interest rate swaps not designated as hedges	4	–
Net loss on non-derivative financial instruments	2	3
Unwinding of discount element of lease liabilities (Note 19)	57	47
Finance costs	607	457
Finance income
Interest receivable on cash and cash equivalents and other	(143)	(206)
Finance income	(143)	(206)
Finance costs less income	464	251
Other financial expense
Unwinding of discount element of provisions for liabilities (Note 25)	32	26
Unwinding of discount applicable to deferred and contingent acquisition consideration (Note 17)	28	25
Unwinding of discount applicable to deferred divestiture proceeds	(11)	(5)
Unwinding of discount applicable to leased mineral reserves	7	7
Pension-related finance cost (net) (Note 27)	4	1
Net other financial expense	60	54
Total net finance costs	524	305

(i) The Company uses interest rate swaps in a fair value hedge relationship to convert fixed rate debt to floating rate and such fixed rate debt is stated in the Consolidated Balance Sheet at adjusted value to reflect movements in underlying fixed rates. The movement on this adjustment, together with the offsetting movement in the fair value of the related interest rate swaps, is included in finance costs in each reporting period. The company also uses interest rate swaps to convert floating rate debt to fixed rate debt. The movement in fair value of these interest rate swaps is included in finance costs.

9. Income Tax Expense

Recognized within the Consolidated Income Statement

	2024	2023
	\$m	\$m
(a) Current tax
U.S.	550	691
Non-U.S.	377	306
Total current tax expense	927	997
(b) Deferred tax
Origination and reversal of temporary differences:
Retirement benefit obligations	4	1
Share-based payment expense	2	(8)
Derivative financial instruments	1	(1)
Other items	142	(48)
Total deferred tax expense/(income)	149	(56)
Income tax reported in the Consolidated Income Statement	1,076	941
Recognized outside the Consolidated Income Statement
(a) Within the Consolidated Statement of Comprehensive Income:
Deferred tax - retirement benefit obligations	(4)	15
Deferred tax - cash flow hedges	5	8
	1	23
(b) Within the Consolidated Statement of Changes in Equity:
Current tax
Current tax - share option exercises	24	10
Deferred tax
Deferred tax - share-based payment expense	15	19
Deferred tax - cash flow hedges	(1)	(3)
	38	26
Income tax recognized outside the Consolidated Income Statement	39	49

	2024	2023
Reconciliation of applicable tax rate to effective tax rate
Profit before tax (\$m)	4,450	3,965
Tax charge expressed as a percentage of profit before tax (effective tax rate):
- current tax expense only	20.8 %	25.1 %
- total income tax expense (current and deferred)	24.2 %	23.7 %

The following table reconciles the applicable U.S. statutory tax rate to the effective tax rate (current and deferred) of the Company:

	% of profit before tax
U.S. statutory rate	21.0
Other rates on earnings	0.8	1.4
Other
- arising from impairment	0.2	1.7
- other items	2.2	(0.4)
Total effective tax rate	24.2	23.7

Other disclosures

Effective tax rate

Due to the percentage of global operations subject to tax in the United States, the Company reconciles the applicable U.S. statutory tax rate to the effective tax rate of the Company.

Changes in tax rates

The total tax charge in future periods will be affected by any changes to the tax rates in force in the countries in which the Company operates.

Pillar Two

The Company is within the scope of the Global Minimum Tax regime, commonly referred to as Pillar Two, which is based on model rules developed by the Organisation for Economic Co-operation and Development (OECD). The Company has applied the temporary exception issued by the IASB in May 2023 from the accounting requirements for deferred taxes in IAS 12 Income Taxes. Accordingly, the Company neither recognizes nor discloses information about deferred tax assets and liabilities related to Pillar Two income taxes.

Income tax expense recognized in the Consolidated Income Statement includes \$38 million (2023: not applicable) related to Pillar Two income taxes.

Proposed dividends

There are no income tax consequences for the Company in respect of dividends proposed prior to issuance of the Consolidated Financial Statements and for which a liability has not been recognized.

10. Dividends

The dividends paid and proposed in respect of each class of share capital are as follows:

	2024	2023
	\$m	\$m
Dividends to shareholders (i)
Equity
Final 2022 Dividend - paid \$1.03 per Ordinary Share	–	761
Interim 2023 Dividend - paid \$0.25 per Ordinary Share	–	177
Second Interim 2023 Dividend - paid \$1.08 per Ordinary Share (ii)	750	–
Quarterly 2024 Dividends - paid \$0.35 per Ordinary Share (iii)	956	–
	1,706	938
Reconciliation to Consolidated Statement of Cash Flows
Dividends to shareholders	1,706	938
Translation adjustment (iv)	–	2
Dividends paid to equity holders of the Company	1,706	940
Dividends paid to non-controlling interests	39	20
Total dividends paid	1,745	960
Dividends proposed (memorandum disclosure)
Equity
Q1 2025 Dividend - proposed \$0.37 per Ordinary Share	250	–
Q1 2024 Dividend - proposed \$0.35 per Ordinary Share	–	242
Second Interim 2023 Dividend - proposed \$1.08 per Ordinary Share (ii)	–	750

(i) In 2024 the 5% Cumulative Preference Shares paid a dividend of €3,175 (2023: €3,175) and the 7% 'A' Cumulative Preference Shares paid a dividend of €77,521 (2023: €77,521).

(ii) In order to facilitate CRH's planned move to a quarterly dividend cadence in 2024 following CRH's transition of its primary listing to the NYSE in September 2023, a second interim dividend of \$1.08 was paid in January 2024 in place of the usual final dividend recommended by the Board for approval at CRH's AGM.

(iii) Dividends paid of \$241 million, \$240 million, \$238 million, and \$237 million for the three month periods ended March 31, 2024, June 30, 2024, September 30, 2024, and December 31, 2024, respectively.

(iv) Translation adjustment arising from U.S. Dollar declared dividends paid in non-U.S. Dollar currencies.

11. Earnings per Ordinary Share

The computation of basic and diluted earnings per Ordinary Share is set out below:

	2024	2023
	\$m	\$m
Numerator computations
Profit for the financial year	3,374	3,024
(Profit)/loss attributable to non-controlling interests	(29)	106
Profit attributable to equity holders of the Company	3,345	3,130
Preference dividends	–	–
Profit attributable to ordinary equity holders of the Company -
numerator for basic/diluted earnings per Ordinary Share	3,345	3,130
Denominator computations
Weighted average number of Ordinary Shares (millions) outstanding for
the year (i)	683.3	723.9
Effect of dilutive potential Ordinary Shares (employee share awards) (millions) (i) (ii)	6.2	5.3
Denominator for diluted earnings per Ordinary Share	689.5	729.2
Basic earnings per Ordinary Share	\$4.90	\$4.32
Diluted earnings per Ordinary Share	\$4.85	\$4.29

(i) The weighted average number of Ordinary Shares included in the computation of basic and diluted earnings per Ordinary Share has been adjusted to exclude shares held by the Employee Benefit Trust and Ordinary Shares repurchased and held by the Company (CRH plc) as Treasury shares given that these shares do not rank for dividend. The number of Ordinary Shares so held at the balance sheet date is detailed in Note 28.

(ii) Ordinary shares, that would only be issued contingent on certain conditions (totaling 2,140,879 at December 31, 2024, and 4,677,404 at December 31, 2023) are excluded from the computation of diluted earnings per Ordinary Share where the conditions governing exercisability have not been satisfied as at the end of the reporting period or they are antidilutive for the periods presented.

12. Property, Plant and Equipment

	Mineral-bearing land	Land and buildings	Plant and machinery	Assets in course of construction	Total
At December 31, 2024	\$m	\$m	\$m	\$m	\$m
Owned
Cost/deemed cost	4,961	6,541	23,025	1,963	36,490
Accumulated depreciation (and impairment charges)	(1,307)	(2,103)	(11,883)	(40)	(15,333)
Net carrying amount	3,654	4,438	11,142	1,923	21,157
At January 1, 2024, net carrying amount	3,322	3,917	9,225	1,231	17,695
Translation adjustment	(49)	(133)	(236)	(63)	(481)
Reclassifications	48	85	752	(1,022)	(137)
Transfer (to)/from leased assets (Note 19)	–	(6)	11	2	7
Additions at cost	55	140	904	1,503	2,602
Additions to leased mineral reserves (Note 18) (i)	3	–	–	–	3
Arising on acquisition (Note 29)	401	679	1,882	274	3,236
Reclassified from held for sale	326	128	358	20	832
Disposals at net carrying amount	(355)	(181)	(374)	(22)	(932)
Depreciation charge for year	(96)	(149)	(1,341)	–	(1,586)
Impairment charge for year (ii)	(1)	(42)	(39)	–	(82)
At December 31, 2024, net carrying amount	3,654	4,438	11,142	1,923	21,157
		Land and buildings	Plant and machinery	Other
		\$m	\$m	\$m
Leased right-of-use assets (iii)
At December 31, 2024, net carrying amount (Note 19)		1,035	430	43	1,508
Total property, plant and equipment					22,665

The equivalent disclosure for the prior year is as follows:

	Mineral-bearing land	Land and buildings	Plant and machinery	Assets in course of construction	Total
At December 31, 2023	\$m	\$m	\$m	\$m	\$m
Owned
Cost/deemed cost	4,643	5,934	20,449	1,271	32,297
Accumulated depreciation (and impairment charges)	(1,321)	(2,017)	(11,224)	(40)	(14,602)
Net carrying amount	3,322	3,917	9,225	1,231	17,695
At January 1, 2023, net carrying amount	3,553	3,926	9,134	1,050	17,663
Translation adjustment	46	75	150	23	294
Reclassifications	56	46	707	(809)	–
Transfer from leased assets (Note 19)	–	2	4	–	6
Additions at cost	51	72	713	981	1,817
Additions to leased mineral reserves (Note 18) (i)	10	–	–	–	10
Arising on acquisition (Note 29)	33	81	132	6	252
Reclassified as held for sale	(326)	(128)	(358)	(20)	(832)
Disposals at net carrying amount	(5)	(7)	(24)	–	(36)
Depreciation charge for year	(96)	(150)	(1,203)	–	(1,449)
Impairment charge for year	–	–	(30)	–	(30)
At December 31, 2023, net carrying amount	3,322	3,917	9,225	1,231	17,695
		Land and buildings	Plant and machinery	Other
		\$m	\$m	\$m
Leased right-of-use assets (iii)
At December 31, 2023, net carrying amount (Note 19)		1,015	372	34	1,421
Total property, plant and equipment					19,116

	Mineral-bearing land	Land and buildings	Plant and machinery	Assets in course of construction	Total
	\$m	\$m	\$m	\$m	\$m
Owned
At January 1, 2023
Cost/deemed cost	4,831	5,786	19,577	1,090	31,284
Accumulated depreciation (and impairment charges)	(1,278)	(1,860)	(10,443)	(40)	(13,621)
Net carrying amount	3,553	3,926	9,134	1,050	17,663

(i) Additions relating to leased mineral reserves which fall outside the scope of IFRS 16.

(ii) Impairment charge of \$82 million (2023: \$30 million) on property, plant and equipment and \$7 million attributable to lease impairments (see Note 19), \$78 million against cost of sales and \$11 million against operating costs (see Note 3), principally relates to the write-down of property, plant and equipment in our International Solutions segment (2023: America Materials Solution segment).

(iii) See Note 19 for more detailed information on right-of-use assets and lease liabilities of the Company.

Climate risk and impairment of property, plant and equipment

Property, plant and equipment is reviewed for potential impairment by applying a series of external and internal indicators including climate-related risks. Specific climate-related considerations during 2024 included:

• considering potential future business optimization levers that may occur and the impact on useful lives;
• assessing the useful lives of transport and mobile equipment in the context of decarbonization of our transport and mobile equipment, this being identified as one of our decarbonization roadmap levers. It is assumed that transport and mobile equipment will be transitioned to lower carbon emitting units in line with normal asset retirement timelines;
• assessing the impact of the capital expenditure required to meet the Company's carbon emissions reduction targets on the useful lives of existing property, plant and equipment. The nature of the proposed projects required to deliver our targets, including technology advancements, and their impact on existing property, plant and equipment was also considered; and
• assessing the impact of physical risk to property, plant and equipment, in the context of the exposure of the Company's locations to potential future adverse weather impacts.

Capital expenditure will continue to be required to deliver our targets and mitigate potential physical risks. Therefore, the useful lives of future capital expenditure may differ from current assumptions. However, as a result of the assessments set out above, there were no significant changes in the estimates of useful lives or asset values during the current financial year.

Future purchase commitments for property, plant and equipment	2024	2023
	\$m	\$m
Contracted for but not provided in the financial statements	1,479	939
Authorized by the Directors but not contracted for	1,408	1,639

13. Intangible Assets

		Other intangible assets
	Goodwill	Marketing related	Customer related (i)	Contract based	Software costs	IT projects in progress	Total
	\$m	\$m	\$m	\$m	\$m	\$m	\$m
At December 31, 2024
Cost/deemed cost	12,115	337	1,394	110	126	63	14,145
Accumulated amortization (and impairment charges)	(1,050)	(114)	(594)	(56)	(55)	–	(1,869)
Net carrying amount	11,065	223	800	54	71	63	12,276
At January 1, 2024 net carrying amount	9,158	216	778	47	–	–	10,199
Translation adjustment	(167)	(1)	(4)	–	(1)	–	(173)
Reclassifications	–	–	–	(3)	78	62	137
Arising on acquisition (Note 29)	2,149	29	147	14	–	–	2,339
Reclassified from held for sale	201	–	–	–	–	–	201
Additions	–	–	–	–	–	1	1
Disposals	(204)	–	–	–	–	–	(204)
Amortization charge for year	–	(21)	(121)	(4)	(6)	–	(152)
Impairment charge for year	(72)	–	–	–	–	–	(72)
At December 31, 2024 net carrying amount	11,065	223	800	54	71	63	12,276
The equivalent disclosure for the prior year is as follows:
At December 31, 2023
Cost/deemed cost	10,159	310	1,260	101	–	–	11,830
Accumulated amortization (and impairment charges)	(1,001)	(94)	(482)	(54)	–	–	(1,631)
Net carrying amount	9,158	216	778	47	–	–	10,199
At January 1, 2023 net carrying amount	9,199	208	833	47	–	–	10,287
Translation adjustment	89	–	1	5	–	–	95
Arising on acquisition (Note 29)	398	23	63	–	–	–	484
Reclassified as held for sale	(201)	–	–	–	–	–	(201)
Amortization charge for year	–	(15)	(119)	(5)	–	–	(139)
Impairment charge for year	(327)	–	–	–	–	–	(327)
At December 31, 2023 net carrying amount	9,158	216	778	47	–	–	10,199
At January 1, 2023
Cost/deemed cost	9,890	286	1,202	92	–	–	11,470
Accumulated amortization (and impairment charges)	(691)	(78)	(369)	(45)	–	–	(1,183)
Net carrying amount	9,199	208	833	47	–	–	10,287

(i) The customer-related intangible assets relate predominantly to non-contractual customer relationships.

Annual goodwill testing

Cash-generating units

Goodwill acquired through business combination activity has been allocated to CGUs that are expected to benefit from synergies in that combination. The CGUs represent the lowest level within the Company at which the associated goodwill is monitored for internal management purposes, and are not larger than the operating segments determined in accordance with IFRS 8. During the fourth quarter of 2024, the Company's operating and reportable segments changed to the following three segments: Americas Materials Solutions; Americas Building Solutions; and International Solutions and existing goodwill was reallocated to each of the new reportable segments. All businesses within the various CGUs exhibit similar and/or consistent profit margin and asset intensity characteristics. Assets, liabilities, deferred tax and goodwill have been assigned to the CGUs on a reasonable and consistent basis.

	Number of cash-generating units		Goodwill
	2024	2023	2024	2023
			\$m	\$m
Americas Materials Solutions	5	5	5,798	4,417
Americas Building Solutions	2	2	3,070	2,752
International Solutions	19	19	2,197	1,989
Total	26	26	11,065	9,158

Impairment testing methodology and results

Goodwill is subject to impairment testing on an annual basis. The recoverable amount of 26 CGUs is determined based on a value-in-use (VIU) computation.

The cash flow forecasts are primarily based on a five-year strategic plan document formally approved by the Board of Directors and specifically exclude the impact of future development activity and capital expenditure that would enhance the assets' performance. To align with the Company's acquisition modelling methodology, these cash flows are extrapolated out for an additional five years, using externally sourced growth rates, to determine the basis for an annuitybased terminal value. The methodology allows, in very limited circumstances, to adjust cash flows past the strategic plan horizon, where deemed appropriate.

No adjustments were made to years 6-10 cash flows for the purpose of the 2024 impairment testing.

As in prior years, the terminal value is based on a 20-year annuity, with the exception of certain non-current cement assets, where an assumption of a 30 year annuity has been used. Projected cash flows beyond the initial evaluation period have been extrapolated using real growth rates ranging from 1.7% in the Americas, 0.6% to 3.0% in Europe and 3.0% in Asia. Such real growth rates do not exceed the long-term average growth rates for the countries in which each CGU operates. The VIU represents the present value of the future cash flows, including the terminal value, discounted at a rate appropriate to each CGU. The real pre-tax discount rate used for purposes of impairment testing on Ukraine CGU was 19.2% (2023: 17.8%). Excluding Ukraine, the real pre-tax discount rates used range from 7.9% to 10.8% (2023: 8.3% to 12.2%).

The 2024 annual goodwill impairment testing process has indicated that for our Architectural Products CGU in Europe in the International Solutions segment, the recoverable amount did not exceed carrying value, and as such an impairment charge of \$72 million has been recorded in intangible asset impairments (2023: \$327 million, International Solutions segment). The total impairment charge of \$72 million relates to impairment of the Architectural Products business in Europe which was driven by challenging market conditions which has had an impact on growth prospects. The assumptions underlying the VIU model projections result in a present value (using a real pre-tax discount rate of 9.1% (2023: 10.4%) of \$252 million and a related goodwill impairment being recorded of \$72 million.

Climate risk and impairment testing

The impact of climate change risks including the risks identified as part of the TCFD disclosures on pages 123 to 130, with a particular focus on carbon costs, has been considered as part of the impairment testing process through net cash flow estimations and the duration of discounted cash flow models. In addition, the estimated capital expenditure required to meet our carbon emissions reduction targets was also incorporated into our net cash flows.

Our cement businesses represent our largest contributor to CO² emissions and consequently have the largest exposure to carbon costs. The net cash flows included in VIU assessments, reflect carbon costs that are reasonably estimated to be incurred over the assessment period, based on current Emissions Trading Systems (ETS) in place at the date of testing and known changes to regulations over the strategic plan horizon. The internal carbon prices applied in VIU assessments reflect the most recent carbon credits purchased by the Company along with the latest International Energy Agency (IEA) carbon price projections for the applicable regions where the Company operates.

The purchase of carbon allowances is managed by a central unit which buys forward to secure supply and de-risk the cost bases ahead of time. This helps provide the Company with near-term certainty on carbon prices and associated costs.

While none of the significant CGUs identified on page 77 currently has a material exposure to carbon costs and as such carbon costs are not deemed a key assumption, the Directors are aware of the ever-changing risks attached to climate change and will regularly assess these risks against judgments and estimates made in future VIU assessments.

While no adjustments in relation to carbon costs were made to years 6-10 cash flows for the purposes of impairment testing, on the basis of assumed cost recovery through pricing, CRH completed a scenario analysis that was aligned to the Paris Agreement to assess the potential impacts of higher carbon costs past the strategic plan period. Key variables included carbon prices based upon the IEA Net Zero scenario (which assumes \$140 per metric tonne in 2030 increasing to \$250 per metric tonne in 2050) and higher costs arising from the European Union's (EU) introduction of the Carbon Border Adjustment Mechanism (CBAM). The impact of increasing carbon prices and declining free allowances (where applicable) was analyzed across our CGUs subject to the EU and United Kingdom ETS in combination with forecast levels of cost recovery through pricing. The analysis indicated that there was no material impact on any of the CGUs reviewed primarily due to the levels of headroom in these CGUs and an assumption of cost recovery through pricing. The Company continues to monitor the emergence of CO² regulatory pronouncements which will be factored into strategic plans once enacted.

Key sources of estimation uncertainty

The cash flows have been arrived at taking into account the Company's strong financial position, its established history of earnings and cash flow generation and the nature of the building materials industry. However, expected future cash flows are inherently uncertain and are therefore liable to material change over time. The key assumptions employed in arriving at the estimates of future cash flows factored into impairment testing are subjective and include projected Adjusted EBITDA margin, long-term growth and discount rates used and the duration of the discounted cash flow model.

While carbon costs are considered a climate-related risk under the Company's TCFD disclosures, they are not considered a major source of estimation uncertainty in isolation. The impact of this risk from an impairment perspective is reflected through Adjusted EBITDA margin which as set out on page 48 is a major source of estimation uncertainty.

Significant goodwill amounts

The goodwill allocated to the Americas Cement and AMAT South (both Americas Materials Solutions segment), APG North America and IPG North America (both Americas Building Solutions segment) CGUs account for between 10.6% and 27.9% of the total carrying amount shown on page 76.

The goodwill allocated to each of the remaining CGUs is less than 10% of the total carrying value in all other cases. The additional disclosures required for the four CGUs with significant goodwill are as follows:

	Americas Cement		AMAT South		APG North America		IPG North America
	2024	2023	2024	2023	2024	2023	2024	2023
	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m
Goodwill allocated to the CGU at balance sheet date	3,092	2,114	1,174	998	1,733	1,701	1,337	1,051
VIU (present value of future cash flows)	14,036	11,209	10,578	8,950	9,244	8,193	8,706	9,326
Excess of value-in-use over carrying amount	6,743	6,270	7,642	6,313	4,431	3,616	6,074	7,011

The key assumptions and methodology used in respect of these four CGUs are consistent with those described above. The real pre-tax discount rates applied to these CGUs ranged from 8.1% to 8.8% (2023: 8.3% to 9.6%) and the long-term growth rate used was 1.7% (2023: 1.4%) which resulted in a projected average Adjusted EBITDA margin over the initial 5-year forecast period ranging from 17.3% to 58.8% (2023: 17.1% to 41.3%). The values applied to each of the key estimates and assumptions are specific to the individual CGUs and were derived from a combination of internal and external factors based on historical experience and took into account the cash flows specifically associated with these businesses. The cash flows and annuity-based terminal value were projected in line with the methodology disclosed above.

The Americas Cement, AMAT South, APG North America and IPG North America CGUs are not included in the 'Sensitivity analysis' section below. Given the magnitude of the excess of VIU over carrying amount, and the Company's belief that the key assumptions are reasonable, management believes that it is not reasonably possible that there would be a change in the key assumptions such that the carrying amount would exceed the VIU.

Consequently, no further disclosures relating to sensitivity of the VIU computations for the Americas Cement, AMAT South, APG North America or IPG North America CGUs are considered to be warranted.

Sensitivity analysis

A qualitative and quantitative assessment has been performed and results in additional sensitivity disclosures for two of the total 26 CGUs. The key assumptions, methodology used and values applied to each of the key assumptions for these CGUs are in line with those outlined above (a 30-year annuity period has been used). The two CGUs have aggregate goodwill of \$254 million at the date of testing. The table below identifies the amounts by which each of the following assumptions may either decline or increase to arrive at a zero excess of the present value of future cash flows over the book value of net assets in the two CGUs selected for sensitivity analysis disclosures:

	two cash-generating units
Reduction in Adjusted EBITDA margin	1.2% and 2.1%
Reduction in long-term growth rate	1.2% and 1.6%
Increase in pre-tax discount rate	1.0% and 1.3%

The average Adjusted EBITDA margin for the aggregate of these two CGUs over the initial five-year period was 24.3%. The VIU (being the present value of the future net cash flows) was \$1,343 million and the carrying amount was \$1,131 million, resulting in an excess of value-in-use over carrying amounts of \$212 million.

14. Financial Assets

	Equity method investments (i.e. joint ventures and associates)
	Share of net assets	Loans	Total	Other
	\$m	\$m	\$m	\$m
At January 1, 2024	610	10	620	81
Translation adjustment	(35)	(6)	(41)	(4)
Investments and advances	76	2	78	165
Arising on acquisition (Note 29)	309	55	364	2
Disposals	(132)	–	(132)	(64)
Fair value gain through Income Statement	–	–	–	56
Loss from equity method investments (i) (ii)	(108)	–	(108)	–
Dividends received	(44)	–	(44)	–
At December 31, 2024	676	61	737	236
Current	–	–	–	200
Non-current	676	61	737	36
At December 31, 2024	676	61	737	236
The equivalent disclosure for the prior year is as follows:
At January 1, 2023	638	11	649	14
Translation adjustment	(4)	–	(4)	2
Investments and advances	37	1	38	49
Disposals and repayments	–	(2)	(2)	–
Fair value gain through Income Statement	–	–	–	16
Loss from equity method investments (i)	(17)	–	(17)	–
Dividends received	(44)	–	(44)	–
At December 31, 2023	610	10	620	81
Non-current	610	10	620	81
At December 31, 2023	610	10	620	81

(i) The Company's loss from equity method investments is accounted for under the equity method and is presented as a single line item in the Consolidated Income Statement. It is analyzed as follows; income from joint ventures: \$52 million (2023: \$3 million), loss from associates: \$160 million (2023: \$20 million).

(ii) Includes an impairment charge of \$190 million, relating to the write-down of our equity method investment in China, which forms part of the International Division. Challenging market conditions in China, which have impacted future growth prospects, are the primary drivers of the impairment charge.

A listing of the principal equity method investments is contained on page 140.

15. Inventories

	2024	2023
	\$m	\$m
Raw materials	2,095	1,865
Work-in-progress (i)	267	186
Finished goods	2,414	2,240
Total inventories at the lower of cost and net realizable value	4,776	4,291

(i) Work-in-progress includes \$4 million (2023: \$5 million) in respect of the cumulative costs incurred, net of amounts transferred to cost of sales under percentage-of-completion accounting, for construction contracts in progress at the balance sheet date.

An analysis of the Company's cost of sales expense is provided in Note 3 to the financial statements.

Write-downs of inventories recognized as an expense within cost of sales amounted to \$19 million (2023: \$15 million).

16. Trade and Other Receivables

	2024	2023
	\$m	\$m
Current
Trade receivables	3,829	3,574
Construction contract assets (i)	690	716
Total trade receivables and construction contract assets, gross	4,519	4,290
Loss allowance	(140)	(149)
Total trade receivables and construction contract assets, net	4,379	4,141
Amounts receivable from equity method investments	46	27
Prepayments	289	285
Other receivables	395	339
Total	5,109	4,792
Non-current
Other receivables	344	181

(i) Includes unbilled revenue and retentions held by customers in respect of construction contracts at the balance sheet date amounting to \$450 million and \$240 million respectively (2023: \$471 million and \$245 million respectively). The movements in these balances during the year were as follows:

	Unbilled revenue		Retentions
	2024	2023	2024	2023
	\$m	\$m	\$m	\$m
At January 1	471	402	245	204
Translation adjustment	(11)	12	(8)	5
Additional contract balances recognized	369	443	179	180
Invoiced in the year	(379)	(386)	–	–
Received from customers	–	–	(176)	(144)
At December 31	450	471	240	245

Trade receivables, construction contract assets and deferred divestiture consideration, which is included in other receivables, are measured at amortized cost (less any expected credit loss allowance (ECL)) as the Company's business model is to "hold to collect" contractual cash flows, and the cash flows arising from trade and other receivables are solely payments of principal and interest. The carrying amount of trade receivables, construction contract assets and deferred divestiture consideration closely approximate their fair value.

Expected credit loss allowance

The movements in the ECL for receivables during the financial year were as follows:

	2024	2023
	\$m	\$m
At January 1	149	125
Translation adjustment	(6)	5
Reclassified from/(as) held for sale	2	(2)
Disposed of during year	(1)	–
Written off during year	(14)	(18)
Arising on acquisition (Note 29)	3	–
Net remeasurement of expected credit loss allowance	7	39
At December 31	140	149

Given the common profile of CRH's customers, how customer credit risk is managed at appropriate Company locations, and the breadth and scale of its international operations, a disclosure of concentrations of credit risk by segment best enables users of financial statements to assess CRH's credit risk exposure. The following table sets out the gross carrying value of trade receivables and construction contract assets and expected credit loss allowance by segment:

	Trade receivables and construction contract assets, gross		Expected credit loss allowance
	2024	2023	2024	2023
	\$m	\$m	\$m	\$m
Americas Materials Solutions	1,964	1,956	29	29
Americas Building Solutions	877	744	15	19
International Solutions	1,678	1,590	96	101
Total	4,519	4,290	140	149

Customer credit risk is managed according to established policies, procedures and controls. Customer credit quality is assessed in line with strict credit rating criteria and credit limits are established where appropriate. Outstanding customer balances are regularly monitored for evidence of customer financial difficulties including payment default, breach of contract, amongst others.

Significant balances are reviewed individually while smaller balances are grouped and assessed collectively. Receivables balances are in general unsecured and non-interest-bearing. Customer credit risk arising in the context of the Company's receivables is not significant and the total expected credit loss allowance for impairment of trade receivables and construction contract assets amounts to 3.1% of the Company's gross trade receivables and construction contract assets (2023: 3.5%). The Company considers the aging of past due receivables a key factor in assessing credit risk. The trade receivables and construction contract assets balances disclosed above comprise a large number of customers spread across the Company's activities and geographies with balances classified as "not past due" representing 70% of the total gross trade receivables and construction contract assets balance at the balance sheet date (2023: 71%). There have been no significant changes to the Company's credit risk parameters or to the composition of the Company's trade receivables and construction contract assets portfolio during the financial year.

The Company applies the simplified approach to providing for ECL permitted by IFRS 9 Financial instruments which requires expected lifetime losses to be recognized from initial recognition of the receivables. Receivables such as those which relate to bonded government contracts and receivables which fall under credit insurance are considered lower risk and would not attract a material ECL. Considering the uncertain economic outlook for the next 12 months, our ECL allowance adequately represents the risk of default on our receivables balances.

Trade receivables are written off when there is no reasonable expectation of recovery, such as a debtor failing to engage in a repayment plan with the company. Where recoveries are made, these are recognized in the Consolidated Income Statement.

Aged analysis

The aged analysis of net trade receivables and construction contract assets at the balance sheet date was as follows:

	Americas Materials Solutions 2024 \$m	Americas Building Solutions 2024 \$m	International Solutions 2024 \$m	Total 2024 \$m	Americas Materials Solutions 2023 \$m	Americas Building Solutions 2023 \$m	International Solutions 2023 \$m	Total 2023 \$m
Not past due	1,277	576	1,319	3,172	1,313	517	1,208	3,038
Past due:
- less than 60 days	526	184	207	917	493	140	224	857
- 60 days or greater but less than 120 days	108	72	42	222	97	55	43	195
- 120 days or greater	24	30	14	68	24	13	14	51
Total trade receivables, net	1,935	862	1,582	4,379	1,927	725	1,489	4,141

Trade receivables and construction contract assets are in general receivable within 90 days of the balance sheet date.

17. Trade and Other Payables

	2024	2023
	\$m	\$m
Current
Trade payables	3,205	3,145
Construction contract-related payables (i)	500	439
Deferred and contingent acquisition consideration (ii)	64	34
Accruals	2,253	2,296
Other payables	236	188
Amounts payable to equity method investments	3	4
Total	6,261	6,106
Non-current
Other payables	386	319
Deferred and contingent acquisition consideration (ii)	378	332
Total	764	651

(i) Construction contract-related payables include billings in excess of revenue, together with advances received from customers in respect of work to be performed under construction contracts and foreseeable losses thereon. \$387 million was recognized in the Consolidated Income Statement during 2024 which was included in the contract-related payables balance at December 31, 2023. The movements in these balances during the year was as follows:

	Advances received		Billings in excess of revenue
	2024	2023	2024	2023
	\$m	\$m	\$m	\$m
At January 1	24	37	393	276
Translation adjustment	(1)	1	(8)	5
Additional contract balances recognized	15	23	446	383
Opening balances recognized as revenue	(24)	(37)	(363)	(271)
At December 31	14	24	468	393

The carrying amounts of trade payables, construction contract-related payables and other payables approximate their fair value largely due to the short-term maturities and nature of these instruments.

(ii) The fair value of total contingent consideration is \$379 million (2023: \$327 million) (Level 3 in the fair value hierarchy), and deferred consideration is \$63 million (2023: \$39 million). On an undiscounted basis, the corresponding future payments relating to contingent consideration, for which the Company may be liable, ranges from \$414 million to \$621 million. This is based on a range of estimated potential outcomes of the expected payment amounts primarily dependent on reasonable possible changes in underlying performance metrics as set out in the relevant agreements. The fair value of contingent consideration is arrived at through discounting the expected payment to present value. Based on a reasonable possible change in assumptions, the fair value ranges from \$303 million to \$454 million on a discounted basis. The movement in deferred and contingent consideration during the financial year was as follows:

	2024	2023
	\$m	\$m
At January 1	366	329
Translation adjustment	(1)	1
Arising on acquisitions during year (Note 29)	58	14
Changes in estimate	25	30
Paid during year	(34)	(33)
Discount unwinding	28	25
At December 31	442	366

18. Movement in Inventories, Receivables, Payables and Provisions

	Inventories	Trade and other receivables	Trade and other payables	Provisions for liabilities	Total
	\$m	\$m	\$m	\$m	\$m
At January 1, 2024	4,291	4,973	(6,757)	(1,235)	1,272
Translation adjustment	(110)	(144)	169	43	(42)
Arising on acquisition (Note 29)	352	324	(232)	(131)	313
Reclassified from held for sale	102	70	(129)	(59)	(16)
Divestitures (Note 5)	(104)	(78)	107	53	(22)
Arising on disposals	–	56	–	–	56
Deferred and contingent acquisition consideration:
- arising on acquisitions during year (Note 29)	–	–	(58)	–	(58)
- paid during year	–	–	34	–	34
Deferred divestiture consideration:
- arising on divestitures during year (Note 5)	–	210	–	–	210
- received during year	–	(83)	–	–	(83)
Interest accruals and discount unwinding	–	(7)	(22)	(32)	(61)
Additions to leased mineral reserves	–	–	(3)	–	(3)
Increase/(decrease) in inventories, receivables, payables and provisions	245	132	(134)	30	273
At December 31, 2024	4,776	5,453	(7,025)	(1,331)	1,873
The equivalent disclosure for the prior year is as follows:
At January 1, 2023	4,194	4,733	(6,563)	(1,358)	1,006
Translation adjustment	74	99	(158)	(36)	(21)
Arising on acquisition (Note 29)	65	78	(86)	(6)	51
Reclassified as held for sale	(102)	(70)	129	59	16
Deferred and contingent acquisition consideration:
- arising on acquisitions during year (Note 29)	–	–	(14)	–	(14)
- paid during year	–	–	33	–	33
Deferred divestiture consideration:
- received during year	–	(6)	–	–	(6)
Shares to be acquired by CRH plc (Treasury shares)	–	–	281	–	281
Interest accruals and discount unwinding	–	11	(45)	(26)	(60)
Additions to leased mineral reserves	–	–	(10)	–	(10)
Increase/(decrease) in inventories, receivables, payables and provisions	60	128	(324)	132	(4)
At December 31, 2023	4,291	4,973	(6,757)	(1,235)	1,272

19. Leases

	Land and	Plant and
	buildings	machinery	Other	Total
Leased right-of-use assets	\$m	\$m	\$m	\$m
At December 31, 2024
Cost	1,579	836	85	2,500
Accumulated depreciation (and impairment charges)	(544)	(406)	(42)	(992)
Net carrying amount	1,035	430	43	1,508
At January 1, 2024 net carrying amount	1,015	372	34	1,421
Translation adjustment	(26)	(12)	(1)	(39)
Transfer from/(to) owned assets	6	(11)	(2)	(7)
Additions at cost	95	169	29	293
Arising on acquisition (Note 29)	111	50	1	162
Disposals at net carrying amount	(50)	(5)	(1)	(56)
Reclassified from held for sale	2	3	1	6
Adjustment as a result of remeasurement of lease liability	21	10	1	32
Depreciation charge for year	(136)	(143)	(18)	(297)
Impairment charge for year	(3)	(3)	(1)	(7)
At December 31, 2024 net carrying amount	1,035	430	43	1,508
At December 31, 2023
Cost	1,489	741	76	2,306
Accumulated depreciation (and impairment charges)	(474)	(369)	(42)	(885)
Net carrying amount	1,015	372	34	1,421
At January 1, 2023 net carrying amount	930	302	26	1,258
Translation adjustment	22	11	1	34
Transfer to owned assets	(2)	(4)	–	(6)
Additions at cost	91	169	23	283
Arising on acquisition (Note 29)	30	4	1	35
Disposals at net carrying amount	(11)	(4)	(1)	(16)
Reclassified as held for sale	(2)	(3)	(1)	(6)
Adjustment as a result of remeasurement of lease liability	85	21	1	107
Depreciation charge for year	(128)	(124)	(16)	(268)
At December 31, 2023 net carrying amount	1,015	372	34	1,421
At January 1, 2023
Cost	1,302	609	64	1,975
Accumulated depreciation (and impairment charges)	(372)	(307)	(38)	(717)
Net carrying amount	930	302	26	1,258

	Land and buildings	Plant and machinery	Other	Total
Lease liabilities	\$m	\$m	\$m	\$m
At January 1, 2024	1,098	366	33	1,497
Translation adjustment	(31)	(10)	(2)	(43)
Addition of right-of-use assets	95	169	29	293
Arising on acquisition (Note 29)	113	45	1	159
Disposals	(46)	(13)	(2)	(61)
Reclassified from held for sale	2	3	1	6
Remeasurements	21	10	1	32
Payments	(160)	(165)	(19)	(344)
Discount unwinding	41	15	1	57
At December 31, 2024	1,133	420	43	1,596

The equivalent disclosure for the prior year is as follows:

At January 1, 2023	992	301	26	1,319
Translation adjustment	21	9	–	30
Addition of right-of-use assets	91	169	23	283
Arising on acquisition (Note 29)	30	4	1	35
Disposals	(11)	(4)	(1)	(16)
Reclassified as held for sale	(2)	(3)	(1)	(6)
Remeasurements	85	21	1	107
Payments	(145)	(140)	(17)	(302)
Discount unwinding	37	9	1	47
At December 31, 2023	1,098	366	33	1,497

The table below shows a maturity analysis of the discounted and undiscounted lease liability arising from the Company's leasing activities. The projections are based on the foreign exchange rates applying at the end of the relevant financial year and on interest rates (discounted projections only) applicable to the lease portfolio.

	As at December 31, 2024		As at December 31, 2023
	Discounted	Undiscounted	Discounted	Undiscounted
	\$m	\$m	\$m	\$m
Within one year	332	349	286	292
Between one and two years	265	292	236	248
Between two and three years	204	233	187	203
Between three and four years	162	192	142	159
Between four and five years	116	129	113	132
After five years	517	888	533	867
Total	1,596	2,083	1,497	1,901

The Company avails of the exemption from capitalizing lease costs for short-term leases and low-value assets where the relevant criteria are met. Variable lease payments directly linked to sales or usage are also expensed as incurred. The following lease costs have been charged to the Consolidated Income Statement as incurred:

	2024	2023
	\$m	\$m
Short-term leases	301	329
Lease of low-value assets	10	14
Variable lease payments not included in the lease liability	80	85
Total	391	428
Total cash outflow for lease payments	735	730

Lease commitments for short-term leases are similar to the portfolio of short-term leases for which the costs, as above, were expensed to the Consolidated Income Statement. The effect of excluding future cash outflows arising from variable lease payments, termination options, residual value guarantees and leases not yet commenced from lease liabilities was not material for the Company. The potential undiscounted future cash outflows arising from the exercise of renewal options that are not expected to be exercised (and are therefore not included in the lease term) are as follows:

	2023
\$m	\$m
6	2
2	5
4	7
6	6
5	5
204	296
227	321

Income from subleasing and gains/losses on sale and leaseback transactions were not material for the Company.

20. Analysis of Net Debt

Components of net debt

Net debt comprises cash and cash equivalents, interest-bearing loans and borrowings, lease liabilities and derivative financial instrument assets and liabilities; it enables investors to see the economic effects of these in total (see Note 21 for details of the capital and risk management policies employed by the Company). Net debt is commonly used in computations such as net debt as a % of total equity and net debt as a % of market capitalization.

	As at December 31, 2024		As at December 31, 2023
	Book value	Fair value	Book value	Fair value
	\$m	\$m	\$m	\$m
Cash and cash equivalents (Note 22)	3,720	3,720	6,390	6,390
Interest-bearing loans and borrowings (Note 23) (i)	(13,968)	(13,721)	(11,642)	(11,444)
Lease liabilities (Note 19)	(1,596)	(1,596)	(1,503)	(1,503)
Derivative financial instruments (net) (Note 24)	(27)	(27)	(37)	(37)
Net debt (ii)	(11,871)	(11,624)	(6,792)	(6,594)

(i) Interest-bearing loans and borrowings are Level 2 instruments whose fair value is derived from quoted market prices.

(ii) Included as at December 31, 2023, is \$49 million cash and cash equivalents and \$6 million lease liabilities reclassified as held for sale.

Reconciliation of opening to closing net debt	At January 1 Book value	Cash flow	Movement attributable to acquired companies	Movement attributable to divested companies	Mark-to-market and other non-cash adjustments	Translation adjustment	At December 31 Book value
December 31, 2024	\$m	\$m	\$m	\$m	\$m	\$m	\$m
Cash and cash equivalents	6,390	(2,499)	53	(69)	–	(155)	3,720
Interest-bearing loans and borrowings	(11,642)	(2,142)	(528)	–	(17)	361	(13,968)
Lease liabilities	(1,503)	287	(159)	8	(272)	43	(1,596)
Derivative financial instruments - financing	(59)	36	4	–	12	(76)	(83)
Liabilities from financing activities	(13,204)	(1,819)	(683)	8	(277)	328	(15,647)
Derivative financial instruments - non-financing	22	21	–	–	(26)	39	56
Net debt	(6,792)	(4,297)	(630)	(61)	(303)	212	(11,871)
The equivalent disclosure for the prior year is as follows:
December 31, 2023
Cash and cash equivalents	5,936	227	19	–	–	208	6,390
Interest-bearing loans and borrowings	(9,636)	(1,701)	(104)	–	(22)	(179)	(11,642)
Lease liabilities	(1,319)	255	(35)	–	(374)	(30)	(1,503)
Derivative financial instruments - financing	(70)	(7)	–	–	20	(2)	(59)
Liabilities from financing activities	(11,025)	(1,453)	(139)	–	(376)	(211)	(13,204)
Derivative financial instruments - non-financing	(16)	104	–	–	(47)	(19)	22
Net debt	(5,105)	(1,122)	(120)	–	(423)	(22)	(6,792)

The following table shows the effective interest rates on year-end fixed and gross debt:

	As at December 31, 2024			As at December 31, 2023
		Interest	Weighted average fixed period		Interest	Weighted average fixed period
	\$m	rate	Years	\$m	rate	Years
Interest-bearing loans and borrowings nominal - fixed rate (i)	(11,739)			(10,342)
Derivative financial instruments - fixed rate	1,235			1,375
Net fixed rate debt including derivatives	(10,504)	3.8%	7.2	(8,967)	3.4%	8.2
Interest-bearing loans and borrowings nominal - floating rate (ii)	(2,233)			(1,320)
Cumulative fair value hedge adjustment (i)	4			20
Derivative financial instruments - floating rate (i)	(1,235)			(1,375)
Derivative financial instruments (net) - fair value	(27)			(37)
Gross debt including derivative financial instruments, excluding lease liabilities	(13,995)	4.3%		(11,679)	3.9%
Lease liabilities - fixed rate	(1,596)			(1,503)
Gross debt including derivative financial instruments, including lease liabilities	(15,591)			(13,182)
Cash and cash equivalents - floating rate (Note 22)	3,720			6,390
Net debt	(11,871)			(6,792)
Cash at bank and in hand reclassified as held for sale	–			(49)
Lease liabilities reclassified as held for sale	–			6
Net debt excluding balances held for sale	(11,871)			(6,835)

(i) Of the Company's nominal fixed rate debt at December 31, 2024, \$1,375 million is swapped to floating interest rates using interest rates swaps (2023: \$1,375 million). Of the Company's nominal floating rate debt at December 31, 2024, \$140 million is swapped to fixed interest rates using interest rate swaps (2023: \$nil million).

(ii) Floating rate debt comprises commercial paper and bank borrowings bearing interest at rates set in advance for periods ranging from overnight to less than one year largely by reference to inter-bank interest rates.

Currency profile

The currency profile of the Company's net debt and net worth (capital and reserves attributable to the Company's equity holders) as at December 31, 2024, and December 31, 2023, is as follows:

	U.S.		Pound	Canadian	Australian	Philippine	Polish	Swiss	Other
	Dollar	euro	Sterling	Dollar	Dollar	Peso	Zloty	Franc	(i)	Total
December 31, 2024	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m
Cash and cash equivalents (Note 22) Interest-bearing loans and borrowings (Note 23)	1,571 (7,987)	1,039 (4,600)	355 (503)	242 (7)	46 (478)	20 (378)	136 –	88 –	223 (15)	3,720 (13,968)
Lease liabilities (Note 19)	(777)	(236)	(222)	(96)	(108)	(5)	(66)	(49)	(37)	(1,596)
Derivative financial instruments (net) (Note 24)	(896)	2,034	56	(253)	(176)	(6)	(158)	(130)	(498)	(27)
Net debt by major currency including derivative financial instruments 3	(8,089)	(1,763)	(314)	(114)	(716)	(369)	(88)	(91)	(327)	(11,871)
Non-debt assets and liabilities analyzed as follows:
Non-current assets	23,525	2,846	2,520	1,528	2,203	1,043	550	541	1,606	36,362
Current assets	5,662	1,407	1,293	542	357	191	211	94	490	10,247
Non-current liabilities	(3,365)	(315)	(312)	(185)	(293)	(108)	(24)	(158)	(96)	(4,856)
Current liabilities	(3,275)	(1,457)	(1,429)	(312)	(183)	(175)	(225)	(97)	(387)	(7,540)
Non-controlling interests	(167)	(40)	–	–	(481)	(264)	–	(9)	(4)	(965)
Capital and reserves attributable to the Company's equity holders	14,291	678	1,758	1,459	887	318	424	280	1,282	21,377
The equivalent disclosure for the prior year is as follows:
December 31, 2023
Cash and cash equivalents (Note 22)*	1,892	3,017	532	280	25	16	325	91	163	6,341
Interest-bearing loans and borrowings (Note 23)	(5,546)	(5,175)	(508)	(4)	(2)	(394)	–	–	(13)	(11,642)
Lease liabilities (Note 19)*	(738)	(248)	(246)	(98)	(13)	(6)	(67)	(42)	(39)	(1,497)
Derivative financial instruments (net) (Note 24)	(39)	1,649	(334)	(302)	(98)	(28)	(256)	(141)	(488)	(37)
Net debt by major currency including derivative financial instruments	(4,431)	(757)	(556)	(124)	(88)	(412)	2	(92)	(377)	(6,835)
Non-debt assets and liabilities (including cash and lease liabilities reclassified as held for sale) analyzed as follows:
Non-current assets	18,430	3,776	2,577	1,691	124	1,130	487	650	1,695	30,560
Current assets	4,811	2,455	1,215	752	50	182	298	95	590	10,448
Non-current liabilities	(3,036)	(440)	(301)	(200)	(5)	(113)	(23)	(175)	(98)	(4,391)
Current liabilities	(2,984)	(2,020)	(1,351)	(414)	(18)	(154)	(267)	(86)	(445)	(7,739)
Non-controlling interests	(148)	(43)	–	–	–	(297)	(1)	(9)	(23)	(521)
Capital and reserves attributable to the Company's equity holders	12,642	2,971	1,584	1,705	63	336	496	383	1,342	21,522

(i) The principal currencies included in this category are Romanian Leu, Ukrainian Hryvnia, Serbian Dinar, Swedish Krona and Hungarian Forint.

^* Excluding \$49 million cash and cash equivalents and \$6 million lease liabilities reclassified as held for sale which are analyzed by major currency in current assets and liabilities above.³

Liquidity and capital resources

The following table provides certain information related to our cash generation and changes in our cash and cash equivalents position:

	2024	2023
	\$m	\$m
Net cash inflow from operating activities	5,079	5,036
Net cash outflow from investing activities	(6,213)	(2,218)
Net cash outflow from financing activities	(1,381)	(2,572)
(Decrease)/increase in cash and cash equivalents	(2,515)	246
Cash and cash equivalents at beginning of year (Note 22)	6,390	5,936
Effect of exchange rate changes	(155)	208
Cash and cash equivalents at end of year (Note 22)	3,720	6,390
Derivative financial instruments - non-financing	56	22
Lease liabilities	(1,596)	(1,503)
Bank overdrafts	(117)	(107)
Borrowings	(13,851)	(11,535)
Derivative financial instruments - financing	(83)	(59)
Total liabilities from financing activities	(15,647)	(13,204)
Net debt at end of year	(11,871)	(6,792)
Cash at bank and in hand reclassified as held for sale	–	(49)
Lease liabilities reclassified as held for sale	–	6
Net debt excluding balances held for sale	(11,871)	(6,835)

The Company believes that its financial resources (operating cash together with cash and cash equivalents of \$3.7 billion and undrawn committed loan facilities of \$3.8 billion) is sufficient to cover the Company's cash requirements.

At December 31, 2024, U.S. Dollar and euro denominated cash and cash equivalents represented 42% (2023: 30%) and 28% (2023: 48%) respectively of total cash and cash equivalents.

Significant borrowings

The main sources of Company debt funding are the debt capital markets and the commercial paper markets in Europe and North America. The following external debt was outstanding as at December 31, 2024:

	Annual coupons	Outstanding (millions)	Final maturity	Hedged to floating rate (millions)
Commercial Paper (i)	4.765%	\$1,536	2025	–
U.S. Dollar bonds	3.875%	\$1,250	2025	\$875
U.S. Dollar loan	4.911%	\$750	2026	–
euro bonds	1.250%	€750	2026	–
U.S. Dollar bonds	3.400%	\$600	2027	–
euro bonds	4.000%	€500	2027	–
U.S. Dollar bonds	3.950%	\$900	2028	\$500
euro bonds	1.375%	€600	2028	–
U.S. Dollar bonds	5.200%	\$750	2029	–
Pound Sterling bonds	4.125%	£400	2029	–
euro bonds	1.625%	€750	2030	–
euro bonds	4.000%	€750	2031	–
U.S. Dollar bonds (ii)	6.400%	\$213	2033	–
U.S. Dollar bonds	5.400%	\$750	2034	–
euro bonds	4.250%	€750	2035	–
U.S. Dollar bonds	5.125%	\$500	2045	–
U.S. Dollar bonds	4.400%	\$400	2047	–
U.S. Dollar bonds	4.500 %	\$600	2048	–

(i) \$1.5 billion of commercial paper was outstanding at year end issued under the Company's commercial paper programs. The weighted average interest rate on outstanding notes was 4.765%. The maturity dates on the notes ranged from one month to three months.

(ii) The \$300 million bond was issued in September 2003, and at the time of issuance the bond was partially swapped to floating interest rates. In August 2009 and December 2010, \$87 million of the issued notes were acquired by CRH plc as part of liability management exercises undertaken and the interest rate hedge was closed out. At December 31, 2024, the remaining fair value hedge adjustment on the hedged item on the Consolidated Balance Sheet was \$27 million (2023: \$30 million).

21. Capital and Financial Risk Management

Capital management

Overall summary

The primary objectives of CRH's capital management strategy are to ensure that the Company maintains a strong credit rating to support its business and to create shareholder value by managing the debt and equity balance and the cost of capital. The Company is committed to optimizing the use of its balance sheet within the confines of the overall objective to maintain an investment-grade credit rating.

The capital structure of the Company, which comprises net debt and capital and reserves attributable to the Company's equity holders, may be summarized as follows:

	2024	2023
	\$m	\$m
Capital and reserves attributable to the Company's equity holders	21,377	21,522
Net debt	11,871	6,792
Capital and net debt	33,248	28,314

The Board periodically reviews the capital structure of the Company, including the cost of capital and the risks associated with each class of capital. The Company manages and, if necessary, adjusts its capital structure taking account of underlying economic conditions; any material adjustments to the Company's capital structure in terms of the relative proportions of debt and equity are approved by the Board. In order to maintain or adjust the capital structure, the Company may issue new shares, dispose of assets, amend investment plans, alter dividend policy or return capital to shareholders.

Dividend cover for the year ended December 31, 2024, amounted to 1.9x (2023: 3.2x).

No changes were made to the objectives or policies during 2024.

Financial risk management objectives and policies

The Company uses financial instruments throughout its businesses: interest-bearing loans and borrowings, cash and cash equivalents and leases are used to finance the Company's operations; trade receivables and trade payables arise directly from operations; and derivatives, principally interest rate and currency swaps and currency forwards, are used to manage interest rate risks and currency exposures and to achieve the desired profile of borrowings.

In accordance with the UK Financial Conduct Authority's announcement on March 5, 2021, LIBOR benchmark rates were discontinued after December 31, 2021, with the exception of certain U.S. Dollar settings which continued until June 30, 2023, when they too were discontinued. This required amendments to the contractual terms of USD LIBOR-referenced interest rates in certain interest rate hedging agreements and the corresponding update of the hedge designations. These USD LIBOR-referenced interest rate agreements were amended to reference the Secured Overnight Financing Rate (SOFR) resulting in economically equivalent trades upon transition. The changes required to systems and processes in relation to the fair valuation of financial instruments were implemented and the transition had no material tax or accounting implications.

At December 31, 2024, the notional value of hedging instruments that reference 3-month SOFR is \$1.4 billion.

The Company does not trade in financial instruments, nor does it enter into any leveraged derivative transactions.

The Company's corporate treasury function provides services to the business units, coordinates access to domestic and international financial markets, and monitors and manages the financial risks relating to the operations of the Company. The Company's Group Treasurer reports to the Head of Group Tax and Treasury and the activities of the corporate treasury function are subject to regular internal audit. Systems and processes are in place to monitor and control the Company's liquidity risks. The Company's net debt position forms part of the monthly documentation presented to the Board.

The Company's hedging activity is based on observable economic relationships, when there is confidence that such relationships will continue for the foreseeable future. Matching critical terms such as notional amount, tenor, timing and currency, the Company establishes relationships between a hedged item and hedging instrument where directional response to changes in fair value, driven by underlying economic conditions, are opposing and proportional in equal measure being an economic relationship under IFRS 9. Hedging ratios of 1:1 are used throughout all hedging activity as the hedged item and hedging instrument are of the same type and currency. The hedges employed mitigate identified risks and have consistently demonstrated close economic relationships. Ineffectiveness between the hedged item and hedging instrument is immaterial in the overall context of the Company.

The main risks attaching to the Company's financial instruments are interest rate risk, foreign currency risk, credit risk, liquidity risk and commodity price risk. The Board reviews and agrees policies for the prudent management of each of these risks as documented below.

Interest rate risk

The Company's exposure to market risk for changes in interest rates stems predominantly from its long-term debt obligations. Interest cost is managed using a mix of fixed and floating rate debt. With the objective of managing this mix in a cost-efficient manner, the Company can enter into interest rate swaps, under which the Company contracts to exchange, at predetermined intervals, the difference between fixed and variable interest amounts calculated by reference to a pre-agreed notional principal. Such contracts enable the Company to mitigate the risk of changing interest rates on the fair value of issued fixed rate debt and the cash flow exposures of issued floating rate debt. Where possible, these swaps are designated under IFRS 9 to hedge underlying debt obligations and qualify for hedge accounting treatment.

The Company applies hedge accounting where there is an economic relationship between the hedged item and the hedging instrument. The existence of an economic relationship is determined initially by comparing the critical terms of the hedging instrument and those of the hedged item and it is prospectively assessed using linear regression analysis. The Company issues fixed rate debt and may enter into interest rate swaps with critical terms that match those of the debt and on a 1:1 hedge ratio basis. The hedge ratio is determined by comparing the notional amount of the derivative with the notional amount of the debt. The hedge relationship is designated for the full term and notional value of the debt.

As interest rate changes observed in the markets in which the Company operates were in the range of 0.75%-1.00% during 2024, the following table demonstrates the impact on profit before tax as a result of incremental changes of 1% in the interest rates applicable. The Company was in a net floating rate cash position at year end (floating rate debt less floating rate cash). The impact is calculated based on the closing balance sheet floating rate net cash position for a full year and assumes that all floating interest rates change by the same amount. The movement operates in a linear manner, with all other variables held constant.

Percentage change in applicable interest rates		+/-1%
Impact on profit before tax	2024	+/-\$2m
	2023	+/-\$37m

Foreign currency risk

Due to the nature of building materials, which in general have a low value-to-weight ratio, the Company's activities are conducted primarily in the local currency of the country of operation resulting in low levels of foreign currency transaction risk; variances arising in this regard are reflected in operating costs or cost of sales in the Consolidated Income Statement in the period in which they arise.

Given the Company's presence in 28 countries worldwide, the principal foreign exchange risk arises from fluctuations in the U.S. Dollar value of the Company's net investment in a wide basket of currencies other than the U.S. Dollar; such changes are reported separately within the Consolidated Statement of Comprehensive Income. A currency profile of the Company's net debt and net worth is presented in Note 20. The Company's established policy is to spread its net worth across the currencies of its various operations with the objective of limiting its exposure to individual currencies and thus promoting consistency with the geographical balance of its operations. In order to achieve this objective, the Company manages its borrowings, where practicable and cost effective, to act as a natural foreign currency hedge of a portion of its foreign currency assets.

The Company's foreign exchange hedging strategy and activity is based on the assumption that changes in international economic factors are reflected in current foreign exchange rates and impact the translation of the Company's non-U.S. Dollar net assets (U.S. dollar being the functional currency of the Parent Company during 2024). The economic relationship, being the translation impact of the Company's net investment in non-U.S. Dollar subsidiaries (hedged item) is hedged against a foreign currency swap (hedging instrument) to counterbalance movements in foreign currency rates. The Company identifies certain portions of foreign currency net investments where foreign currency translation movements can be mitigated through the use of currency swaps in the same currency pairing. A hedge ratio of 1:1 is established. As at December 31, 2024, the notional amount of hedged net investments was \$1,371 million (2023: \$1,187 million). The primary currency pairs in use are U.S. dollar versus Canadian Dollar, Pound Sterling, Polish Zloty, Romanian Leu, Swiss Franc and Danish Kroner. The fair value movements of the hedging instruments are inverse to the impact of the translation of the hedged net assets because the critical terms match. This reduces the Company's exposure to fluctuations on the translation of the Company's subsidiaries with a non-U.S. Dollar functional currency into U.S. Dollar. Potential sources of ineffectiveness are changes in the interest rate differentials of the hedged currency pairs, recorded through the Consolidated Income Statement. Past trends indicate that the economic relationship described will continue for the foreseeable future. The fair values and maturity analysis of the hedging instruments are set out in Note 24. Undesignated financial instruments are termed "not designated as hedges".

While foreign exchange volatility observed in the markets in which the Company operates was in the range of +/-10% during 2024, the following table demonstrates the sensitivity of profit before tax and equity to incremental movements of 5% in the relevant U.S. Dollar/euro exchange rate, which operate in a linear manner, with all other variables held constant. The euro has been selected as the appropriate currency for this analysis given the materiality of the Company's activities in euro. The impact on profit before tax is based on changing the U.S. Dollar/euro exchange rate used in calculating profit before tax for the period. The impact on total equity and financial instruments is calculated by changing the U.S. Dollar/euro exchange rate used in measuring the closing balance sheet.

Percentage change in relevant \$/€ exchange rate strengthening/weakening

		+/- 5%
Impact on profit before tax	2024	+/-\$9m
	2023	-/+\$3m
Impact on total equity*	2024	-/+\$34m
	2023	+/-\$148m
* Includes the impact on financial instruments which is as follows:	2024	+/-\$88m
	2023	-/+\$36m

Financial instruments include deposits, money market funds, commercial paper, bank loans, medium-term notes and other fixed term debt, interest rate swaps, commodity swaps and foreign exchange contracts. They exclude trade receivables and trade payables on the basis that they are denominated in the currency of the underlying operations. The Company minimizes the impact of movements in foreign exchange rates on the Company's income statement through matching where possible, foreign currency monetary assets and liabilities or the use of derivative contracts at an entity level.

Credit/counterparty risk

In addition to cash at bank and in hand, the Company holds significant cash balances, which are invested on a short-term basis and are classified as cash equivalents (see Note 22). These deposits, investments and other financial instruments (principally certain derivatives and loans and receivables included within financial assets) give rise to credit risk on amounts due from counterparty financial institutions (stemming from their insolvency or a downgrade in their credit ratings). Credit risk is managed by limiting the aggregate amount and duration of exposure to any one counterparty primarily depending on its credit rating and by regular review of these ratings and internal treasury policies.

Acceptable credit ratings for deposits and other financial instruments are higher investment-grade ratings. In general, counterparties have ratings of A3/A-/Aor higher from at least two of Moody's/Standard & Poor's/Fitch ratings agencies. The maximum exposure arising in the event of default on the part of the counterparty (including insolvency) is the carrying value of the relevant financial instrument.

Credit rating of counterparty (Moody's/Standard & Poor's/Fitch)

		As at December 31, 2024		As at December 31, 2023
	\$m	%	\$m	%
Aaa/AAA/AAA	1,519	41%	2,078	33%
Aa/AA/AA	1,073	29%	1,735	27%
A/A/A	723	19%	2,338	37%
Baa/BBB/BBB or lower	405	11%	239	3%
	3,720	100%	6,390	100%

Money market liquidity funds are managed by external third-party fund managers to maintain Aaa/AAA long-term ratings and P1/A1 short-term ratings from Moody's/Standard & Poor's. The Company limits its investment in each fund to a prescribed maximum amount or 5% of the fund's assets under management, whichever is the lower. The Company has a number of managed investment funds that hold fixed income euro securities with an average credit quality of Aaa/AAA. As at December 31, 2024, 59% (2023: 67%) of cash and cash equivalents was held with higher investment grade bank counterparties, and 41% (2023: 33%) with the money market funds.

Credit risk arising in the context of the Company's operations is not significant with the total loss allowance at the balance sheet date amounting to 3.1% of gross trade receivables and construction contract assets (2023: 3.5%). Information in relation to the Company's credit risk management of trade receivables is provided in Note 16. Amounts receivable from related parties (Note 16) are immaterial. Factoring arrangements and supplier financing arrangements are employed in certain of the Company's operations where deemed to be of benefit by operational management and are deemed immaterial.

In its worldwide insurance program, the Company carries appropriate levels of insurance for typical business risks (including product liability) with various leading insurance companies. However, in the event of the failure of one or more of its insurance counterparties, the Company could be impacted by losses where recovery from such counterparties is not possible.

Liquidity risk

The principal liquidity risks faced by the Company stem from the maturation of debt obligations and derivative transactions. A downgrade of CRH's credit ratings may give rise to increases in funding costs in respect of future debt and may impair the Company's ability to raise funds on acceptable terms. The Company's corporate treasury function ensures that sufficient resources are available to meet such liabilities as they fall due through a combination of cash and cash equivalents, cash flows and undrawn committed bank facilities. Flexibility in funding sources is achieved through a variety of means including (i) maintaining cash and cash equivalents only with a diverse group of highly-rated counterparties; (ii) limiting the annual maturity of such balances; (iii) borrowing the bulk of the Company's debt requirements under committed bank lines or other term financing; and (iv) having surplus committed lines of credit.

The undrawn committed facilities available to the Company as at the balance sheet date are quantified in Note 23; these facilities span a wide number of highly-rated financial institutions thus minimizing any potential exposure arising from concentrations in borrowing sources. The repayment schedule (analyzed by maturity date) applicable to the Company's outstanding interest-bearing loans and borrowings as at the balance sheet date is also presented in Note 23. The Company's €1.5 billion Euro Commercial Paper Program and \$4.0 billion U.S. Dollar Commercial Paper Program means we have framework programs in place in the money markets that allow the Company to issue in the relevant markets within a short period of time.

Commodity price risk

The principal commodity price risks are identified in a variety of highly probable and active commodity contracts where a significant part of the price to be paid relies on a reference to specific floating price indices (usually U.S. Dollar) for a specific period. Programs are in place to hedge the quantities and qualities of commodity products, including fuel oil and related products, electricity and carbon credits. The aim of the programs is to neutralize the variability in the Consolidated Income Statement as a result of changes in associated commodity indices over a timeframe of approximately four years (2023: four years). A hedge ratio of 1:1 is established. Fixed price swap contracts in the entity's operating currency are used to hedge the same specific floating index risk and currency risk where it is determined that those risks are better managed at a fixed price rather than being exposed to uncontrollable price fluctuations due to the floating price index element of the contract. Sources of ineffectiveness can relate to timing of cash flows and counterparty credit risk adjustments. The derivative contracts qualify for cash flow hedge accounting under IFRS 9 and the fair values by maturity are set out in Note 24.

The notional and fair values in respect of derivative contracts as at December 31, 2024, and December 31, 2023, were as follows:

Profile of commodity products	As at December 31, 2024		As at December 31, 2023
	Notional value	Fair value	Notional value	Fair value
	\$m	\$m	\$m	\$m
Carbon credits	220	8	330	43
Electricity	19	4	15	2
Fuel oil and related products	54	6	91	(10)
	293	18	436	35

The tables below show the projected contractual undiscounted total cash outflows (principal and interest) arising from the Company's trade and other payables, gross debt and derivative financial instruments. The tables also include the gross cash inflows projected to arise from derivative financial instruments. These projections are based on the interest and foreign exchange rates applying at the end of the relevant financial year.

		Between 1	Between 2	Between 3	Between 4
	Within 1 year	and 2 years	and 3 years	and 4 years	and 5 years	After 5 years	Total
	\$m	\$m	\$m	\$m	\$m	\$m	\$m
At December 31, 2024
Financial liabilities - cash outflows
Trade and other payables	6,266	238	47	35	34	778	7,398
Lease liabilities	349	292	233	192	129	888	2,083
Other interest-bearing loans and borrowings	3,018	1,934	1,438	1,536	1,263	4,851	14,040
Interest payments on other interest-bearing loans and borrowings (i)	470	420	345	291	244	1,731	3,501
Interest rate swaps - net cash outflows (ii)	25	11	11	6	–	–	53
Currency forwards and currency swaps - gross cash outflows	4,489	–	–	–	104	–	4,593
Other derivative financial instruments	1	–	–	–	–	–	1
Gross projected cash outflows	14,618	2,895	2,074	2,060	1,774	8,248	31,669
Derivative financial instruments - cash inflows
Interest rate swaps - net cash inflows (ii)	(2)	–	–	–	–	–	(2)
Currency forwards and currency swaps - gross cash inflows	(4,484)	–	–	–	(116)	–	(4,600)
Other derivative financial instruments	(9)	–	–	–	–	–	(9)
Gross projected cash inflows	(4,495)	–	–	–	(116)	–	(4,611)
The equivalent disclosure for the prior year is as follows:
At December 31, 2023
Financial liabilities - cash outflows
Trade and other payables	6,098	190	37	39	38	782	7,184
Lease liabilities	292	248	203	159	132	867	1,901
Other interest-bearing loans and borrowings	1,876	1,257	832	1,444	1,563	4,757	11,729
Interest payments on other interest-bearing loans and borrowings (i)	368	329	302	260	218	1,725	3,202
Interest rate swaps - net cash outflows (ii)	44	44	14	14	14	–	130
Currency forwards and currency swaps - gross cash outflows	1,652	–	–	–	–	–	1,652
Other derivative financial instruments	8	–	–	–	–	–	8
Gross projected cash outflows	10,338	2,068	1,388	1,916	1,965	8,131	25,806
Derivative financial instruments - cash inflows
Currency forwards and currency swaps - gross cash inflows	(1,638)	–	–	–	–	–	(1,638)
Other derivative financial instruments	(3)	–	–	–	–	–	(3)
Gross projected cash inflows	(1,641)	–	–	–	–	–	(1,641)

(i) At December 31, 2024, and December 31, 2023, a portion of the Company's long-term debt carried variable interest rates. The Company uses the interest rates in effect on December 31 to calculate the interest payments on the long-term debt for the periods indicated.

(ii) The Company uses interest rate swaps to help manage its interest cost. Under these contracts the Company has agreed to exchange at pre-determined intervals, the net difference between fixed and variable interest amounts calculated by reference to a pre-agreed notional principal. The Company uses the interest rates in effect on December 31 to calculate the net interest receipts or payments on these contracts.

22. Cash and Cash Equivalents

Cash and cash equivalents balances are spread across a wide number of highly-rated financial institutions. The credit risk attaching to these items is documented in Note 21.

Cash and cash equivalents are included in the Consolidated Balance Sheet and are analyzed as follows:

	2024	2023
	\$m	\$m
Cash at bank and in hand	1,274	1,139
Cash equivalents (short-term deposits)	2,446	5,202
Total	3,720	6,341

Cash at bank earns/pays interest at floating rates based on daily deposit bank rates. Short-term deposits, which include bank and money market deposits, are made for varying periods of between one day and three months depending on the immediate cash requirements of the Company, earning interest at the respective short-term deposit rates.

Money market deposits are held at fair value through profit and loss and are Level 1 instruments. The fair values of money market deposits are calculated by multiplying the net asset value per share by the investment held at the balance sheet date.

Cash and cash equivalents include the following for the purposes of the Consolidated Statement of Cash Flows:

	2024	2023
	\$m	\$m
Cash at bank and in hand	1,274	1,139
Cash equivalents (short-term deposits)	2,446	5,202
Cash at bank and in hand reclassified as held for sale	–	49
Total	3,720	6,390

23. Interest-bearing Loans and Borrowings

	2024	2023
	\$m	\$m
Bank overdrafts	117	107
Bank loans	1,606	395
Bonds	10,709	10,135
Commercial paper notes	1,536	1,002
Other debt	–	3
Interest-bearing loans and borrowings	13,968	11,642

Interest-bearing loans and borrowings include borrowings of \$nil million (2023: \$nil million) secured on specific items of property, plant and equipment.

Maturity profile of loans and borrowings and undrawn committed facilities

		As at December 31, 2024		As at December 31, 2023
	Loans and borrowings	Undrawn committed facilities	Loans and borrowings	Undrawn committed facilities
	\$m	\$m	\$m	\$m
Within one year	2,999	16	1,866	–
Between one and two years	1,923	67	1,219	–
Between two and three years	1,430	–	824	–
Between three and four years	1,506	31	1,436	–
Between four and five years	1,258	3,638	1,537	3,868
After five years	4,852	–	4,760	–
Total	13,968	3,752	11,642	3,868

The Company manages its borrowing ability by entering into committed borrowing agreements. Revolving committed bank facilities are generally available to the Company for periods of up to five years from the date of inception. The undrawn committed facilities figures shown in the table above represent the facilities available to be drawn by the Company at December 31, 2024. The Company successfully carried out an amendment to its €3.5 billion revolving credit facility (the 'RCF') in April 2024 whereby the Company extended the maturity date of the facility for a further one year to 2029.

On January 9, 2024, the Company utilized available cash to fully redeem €600 million of outstanding 1.875% euro Senior Notes due January 2024. In May 2024, the Company issued \$750 million 5.200% Senior Notes due 2029 and \$750 million 5.400% Senior Notes due 2034. In December 2024, the Company entered into a new \$750 million two-year fixed rate term loan facility which was fully drawn.

In January 2025, wholly-owned subsidiaries of the Company completed the issuance and sale of \$1.25 billion 5.125% Guaranteed Notes due 2030, \$1.25 billion 5.500% Guaranteed Notes due 2035, and \$0.5 billion 5.875% Guaranteed Notes due 2055. The first three tranches of debt are fully and unconditionally guaranteed by the Company as to the principal, interest, premium, if any, and any other amounts payable in respect of them.

\$1.5 billion of commercial paper was outstanding at year end issued under the Company's commercial paper programs. The maturity dates on the notes ranged from one month to three months.

Guarantees

The Parent Company has given letters of guarantee to secure obligations of subsidiary undertakings as follows: \$13.1 billion in respect of loans and borrowings, bank advances and derivative obligations (2023: \$11.3 billion) and \$0.4 billion in respect of letters of credit due within one year (2023: \$0.4 billion).

Any Irish registered wholly-owned subsidiary of the Parent Company may avail of the exemption from filing its statutory financial statements for the year ended December 31, 2024, as permitted by section 357 of the Companies Act 2014 and if an Irish registered wholly-owned subsidiary of the Parent Company elects to avail of this exemption, there will be in force an irrevocable guarantee from the Parent Company in respect of all commitments entered into by such wholly-owned subsidiary, including amounts shown as liabilities (within the meaning of section 357 (1) (b) of the Companies Act 2014) in such wholly-owned subsidiary's statutory financial statements for the year ended December 31, 2024.

24. Derivative Financial Instruments

The fair values of derivative financial instruments are analyzed by year of maturity and by accounting designation as follows:

	Fair value hedges	Cash flow hedges	Net investment hedges	Not designated as hedges	Total
	\$m	\$m	\$m	\$m	\$m
At December 31, 2024
Derivative assets
Within one year - current assets	–	19	40	10	69
Total derivative assets	–	19	40	10	69
Derivative liabilities
Within one year - current liabilities	(10)	(2)	(1)	(53)	(66)
Between three and four years	(27)	–	–	–	(27)
Between four and five years	–	–	–	(3)	(3)
Non-current liabilities	(27)	–	–	(3)	(30)
Total derivative liabilities	(37)	(2)	(1)	(56)	(96)
Net (liability)/asset arising on derivative financial instruments	(37)	17	39	(46)	(27)
The equivalent disclosure for the prior year is as follows: At December 31, 2023
Derivative assets
Within one year - current assets	–	46	1	–	47
Between one and two years	–	1	–	–	1
Non-current assets	–	1	–	–	1
Total derivative assets	–	47	1	–	48
Derivative liabilities
Within one year - current liabilities	–	(11)	(14)	(2)	(27)
Between one and two years	(32)	(1)	–	–	(33)
Between four and five years	(25)	–	–	–	(25)
Non-current liabilities	(57)	(1)	–	–	(58)
Total derivative liabilities	(57)	(12)	(14)	(2)	(85)
Net (liability)/asset arising on derivative financial instruments	(57)	35	(13)	(2)	(37)

At December 31, 2024 and 2023, the Company had no master netting or similar arrangements, no collateral posting requirements, or enforceable right of set-off agreements with any of its derivative counterparts.

Fair value hedges consist of interest rate swaps. These instruments hedge risks arising from changes in asset/liability fair values due to interest rate movements.

Cash flow hedges consist of currency forwards, currency swaps, commodity forwards and commodity swaps. These instruments hedge risks arising to future cash flows from movements in foreign exchange rates and commodity prices. Cash flow hedges are expected to affect profit and loss over the period to maturity.

Net investment hedges comprise of currency forwards and currency swaps and hedge changes in the value of net investments due to currency movements. The profit/(loss) arising on fair value hedges, cash flow hedges, and related hedged items reflected in the Consolidated Income Statement is shown below:

	2024	2023
	\$m	\$m
Fair value hedges and related hedged items
Movement in cumulative fair value of the hedge adjustment of hedge instruments	19	23
Movement in cumulative fair value of the hedge adjustment of hedged items	(19)	(25)

Components of other comprehensive income - cash flow hedges

Fair value losses arising on hedging instruments:

- commodity forwards and commodity swaps	(34)	(55)
- currency forwards and currency swaps	(3)	(4)
Total	(37)	(59)

Fair value hierarchy	2024 Level 2 \$m	2023 Level 2 \$m
Assets measured at fair value
Cash flow hedges - currency forwards, currency swaps, commodity forwards and commodity swaps	19	47
Net investment hedges - currency forwards and currency swaps	40	1
Not designated as hedges (classified as held for trading) - currency forwards and currency swaps	10	–
Total	69	48
Liabilities measured at fair value
Fair value hedges - interest rate swaps	(37)	(57)
Cash flow hedges - currency forwards, currency swaps, commodity forwards and commodity swaps	(2)	(12)
Net investment hedges - currency forwards and currency swaps	(1)	(14)
Not designated as hedges (classified as held for trading) - currency forwards and currency swaps	(56)	(2)
Total	(96)	(85)

At December 31, 2024 and 2023, there were no derivatives valued using Level 1 or Level 3 fair value techniques.

25. Provisions for Liabilities

			Arising on			Reclassified
	At January 1	Translation adjustment	acquisition (Note 29)	Provided during year	Utilized during year	from/(as) held for sale	Divested during year	Reversed unused	Discount unwinding	At December 31
	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m	\$m
December 31, 2024
Insurance (i)	383	(3)	1	189	(163)	–	–	(22)	15	400
Environment and remediation (ii)	530	(22)	43	32	(17)	56	(60)	(48)	16	530
Rationalization and redundancy (iii)	10	(1)	–	24	(17)	1	–	(3)	–	14
Other (iv)	312	(17)	87	105	(51)	2	7	(59)	1	387
Total	1,235	(43)	131	350	(248)	59	(53)	(132)	32	1,331
Analyzed as:
Non-current liabilities	771									805
Current liabilities	464									526
Total	1,235									1,331
The equivalent disclosure for the prior year is as follows:
December 31, 2023
Insurance (i)	421	5	–	156	(178)	–	–	(31)	10	383
Environment and remediation (ii)	596	18	–	43	(27)	(56)	–	(59)	15	530
Rationalization and redundancy (iii)	17	–	–	20	(23)	(1)	–	(3)	–	10
Other (iv)	324	13	6	96	(54)	(2)	–	(72)	1	312
Total	1,358	36	6	315	(282)	(59)	–	(165)	26	1,235
Analyzed as:
Non-current liabilities	845									771
Current liabilities	513									464

(i) This provision relates to obligations arising under the self-insurance components of the Company's insurance arrangements which comprise employers' liability (workers' compensation in the United States), public and products liability (general liability in the United States), automobile liability, property damage, business interruption and various other insurances; a substantial proportion of the total provision pertains to claims which are classified as "incurred but not reported". Due to the extended timeframe associated with many of the insurances, a significant proportion of the total provision is subject to periodic actuarial valuation. The projected cash flows underlying the discounting process are established through the application of actuarial triangulations, which are extrapolated from historical claims experience. The triangulations applied in the discounting process indicate that the Company's insurance provisions have an average life of four years (2023: four years).

Total 1,358 1,235

• (ii) This provision comprises obligations governing site remediation, restoration and environmental works to be incurred in compliance with either local or national environmental regulations together with constructive obligations stemming from established best practice. The value of current obligations is \$77 million (2023: \$66 million), whilst \$266 million (2023: \$279 million) of the total provision will be utilized in the medium-term (two to ten years). The value of legal and constructive obligations applicable to non-current assets (principally mineral-bearing land) that will unwind over a 30-year timeframe is \$187 million (2023: \$185 million). In discounting the related obligations, expected future cash outflows have been determined with due regard to extraction status and anticipated remaining life. The discount rates used are consistent with the timing of the expected future cash outflows of the provision and the economic environment of the jurisdiction where the provision will be settled.
• (iii) These provisions relate to irrevocable commitments under various rationalization and redundancy programs, none of which are individually material to the Company. In 2024, \$24 million (2023: \$20 million) was provided in respect of rationalization and redundancy activities as a consequence of undertaking various cost reduction initiatives across all operations. These initiatives included removing excess capacity from manufacturing and distribution networks and scaling operations to match supply and demand. The Company expects that these provisions will primarily be utilized within one to two years of the balance sheet date (2023: one to two years).
• (iv) Other provisions primarily relate to legal claims and also include onerous contracts, guarantees and warranties and employee-related provisions. The Company expects the majority of these provisions will be utilized within one to five years of the balance sheet date (2023: one to five years); however due to the nature of the legal provisions there is a level of uncertainty in the timing of settlement as the Company generally cannot determine the extent and duration of the legal process.

26. Deferred Income Tax

The deductible and taxable temporary differences in respect of which deferred tax has been recognized are as follows:

	2024	2023
	\$m	\$m
Deferred tax liabilities	3,056	2,715
Deferred tax assets	(135)	(115)
Net deferred income tax liability	2,921	2,600
Deferred income tax assets (deductible temporary differences)
Deficits on retirement benefit schemes	43	54
Revaluation of derivative financial instruments to fair value	11	7
Tax loss carryforwards (primarily income tax losses)	75	105
Share-based payment expense	79	70
Provisions for liabilities, inventories, receivables and payables	578	541
Lease liabilities	276	292
Other deductible temporary differences	109	85
Total	1,171	1,154

Deferred income tax assets have been recognized in respect of all deductible temporary differences, with the exception of some tax loss and interest carryforwards. The amount of tax losses and interest carryforwards where recovery is not probable and is therefore not recognized in the Consolidated Balance Sheet is \$0.9 billion (2023: \$1.0 billion) and \$2.6 billion (2023: \$2.1 billion) respectively. The vast majority either do not expire based on current tax legislation or expire post 2029 (2023: 2028). Of the losses and interest carryforwards not recognized in the Consolidated Balance Sheet, \$0.3 billion (2023: \$0.1 billion) expire within five years, \$0.1 billion (2023: \$0.2 billion) expire post five years and the remainder of losses do not expire. The Company also has unrecognized state net operating loss carryforwards with a tax value of \$14 million (2023: \$16 million).

Deferred income tax liabilities (taxable temporary differences)

Taxable temporary differences principally attributable to accelerated tax depreciation and fair value adjustments arising on acquisition (i)	3,569	3,278
Leased right-of-use assets	287	274
Investments in subsidiaries	146	155
Surpluses on retirement benefit schemes	24	21
Revaluation of derivative financial instruments to fair value	7	5
Rolled-over capital gains	59	21
Total	4,092	3,754

Investments in subsidiaries

The aggregate temporary differences in relation to investments in subsidiaries for which deferred tax liabilities have not been recognized is \$18.6 billion (2023: \$16.4 billion) given the Company is in a position to control the timing of reversal and given management's intention not to unwind these temporary differences. Participation exemptions and tax credits are available in the majority of jurisdictions in which the Company operates. A deferred tax liability has been recognized in respect of any temporary differences relating to investments in subsidiaries expected to unwind in the foreseeable future.

Movement in net deferred income tax liability

At January 1	2,600	2,780
Translation adjustment	(47)	26
Net expense/(income) for the year	149	(56)
Arising on acquisition (Note 29)	230	30
Reclassified from/(as) held for sale	141	(141)
Divestitures (Note 5)	(137)	–
Movement in deferred tax recognized in the Consolidated Statement of Comprehensive Income	(1)	(23)
Movement in deferred tax recognized in the Consolidated Statement of Changes in Equity	(14)	(16)
At December 31	2,921	2,600

(i) Fair value adjustments arising on acquisition principally relate to property, plant and equipment.

27. Retirement Benefit Obligations

The Company operates either defined benefit or defined contribution pension schemes in all of its principal operating areas. The disclosures included below relate to all pension schemes in the Company.

The Company operates defined benefit pension schemes in Australia, Belgium, Canada, France, Germany, Italy, the Netherlands, the Philippines, the Republic of Ireland, Romania, Serbia, Slovakia, Switzerland, the United Kingdom, the United States and Ukraine. The Company has a mixture of funded and unfunded defined benefit pension schemes. The net surplus of the funded schemes is \$142 million (2023: \$207 million). Unfunded obligations (including jubilee, post-retirement healthcare obligations and long-term service commitments) comprise of a number of schemes in Canada, France, Germany, Ireland, Italy, the Netherlands, the Philippines, Romania, Serbia, Slovakia, Switzerland, the United States and Ukraine, totaling a net liability of \$204 million (2023: \$213 million).

Funded defined benefit schemes in Australia, the Republic of Ireland, Switzerland and the United Kingdom are administered by separate funds that are legally distinct from the Company under the jurisdiction of Trustees. The Trustees are required by law to act in the best interests of the scheme participants and are responsible for the definition of investment strategy and for scheme administration. Other schemes are also administered in line with the local regulatory environment. The level of benefits available to most members depends on length of service and either their average salary over their period of employment or their salary in the final years leading up to retirement. For Switzerland, the level of benefits depends on salary, level of savings contributions, the interest rate on old age accounts (which cannot be negative) and the annuity conversion factor on retirement. The Company's pension schemes in Switzerland are contribution based schemes with guarantees. This means the Company pays age-dependent fixed contribution percentages, but should the invested assets be insufficient to meet the guaranteed benefit obligations, additional contributions might be required.

Defined benefit pension schemes - principal risks

Through its defined benefit pension and jubilee schemes, long-term service commitments and post-retirement healthcare plans, the Company is exposed to a number of risks, the most significant of which are detailed below:

Asset volatility: Under IAS 19 Employee Benefits, the assets of the Company's defined benefit pension schemes are reported at fair value (using bid prices, where relevant). The majority of the schemes' assets comprise equities, bonds and property, all of which may fluctuate significantly in value from period to period including from fluctuations arising in respect of climate change and associated risks and uncertainties. Given that liabilities are discounted to present value based on bond yields and that bond prices are inversely related to yields, an increase in the liability discount rate (which would reduce liabilities) would reduce bond values, though not necessarily by an equal magnitude.

Given the maturity of certain Company funded defined benefit pension schemes, de-risking frameworks have been introduced to mitigate deficit volatility and enable better matching of investment returns with the cash outflows related to benefit obligations. These frameworks entail the usage of asset-liability matching techniques, whereby triggers are set for the conversion of equity holdings into bonds of similar average duration to the relevant liabilities.

Discount rates: The discount rates employed in determining the present value of the schemes' liabilities are determined by reference to market yields at the balance sheet date on high-quality corporate bonds of a currency and term consistent with the currency and term of the associated post-employment benefit obligations. Changes in discount rates impact the quantum of liabilities as discussed above.

Inflation risk: A significant amount of the Company's pension obligations are linked to inflation; higher inflation will lead to higher liabilities (although in most cases, caps on the level of inflationary increases are in place to protect the schemes against extreme inflation).

Longevity risk: In the majority of cases, the Company's defined benefit pension schemes provide benefits for life with spousal and dependent child reversionary provisions; increases in life expectancy (decreases in mortality assumptions) will therefore give rise to higher liabilities.

Aggregation

For the purposes of the disclosures which follow; the schemes in Belgium, France, Germany, Italy, the Netherlands, the Republic of Ireland and Slovakia have been aggregated into a "Eurozone" category on the basis of common currency and financial assumptions; schemes in Australia, the Philippines, Romania, Serbia, the United Kingdom and Ukraine have been aggregated into an "Other" category.

Financial assumptions - scheme liabilities

The major long-term assumptions used by the Company's actuaries in the computation of scheme liabilities and post-retirement healthcare obligations are as follows:

	Eurozone		United States and Canada		Switzerland
	2024	2023	2024	2023	2024	2023
	%	%	%	%	%	%
Rate of increase in:
- salaries	3.10	3.30	3.00	3.00	1.30	2.50
- pensions in payment	2.10	2.30	–	–	–	–
Inflation	2.10	2.30	2.10	2.10	0.80	2.00
Discount rate	3.50	3.60	5.30	4.90	1.00	1.50
Medical cost trend rate	n/a	n/a	6.53	6.91	n/a	n/a

The mortality assumptions employed in determining the present value of scheme liabilities under IAS 19 represent actuarial guidelines in the relevant jurisdictions, taking account of mortality experience and industry circumstances. For schemes in the Republic of Ireland and the United Kingdom, the mortality assumptions used are in accordance with the underlying funding valuations. For the Company's most material schemes, the future life expectations factored into the relevant valuations, based on retirement at 65 years of age for current and future retirees, are as follows:

	Republic of Ireland		United States and Canada		Switzerland
	2024	2023	2024	2023	2024	2023
Current retirees
- men	22.7	22.7	20.5	20.6	22.7	22.8
- women	24.6	24.6	22.5	22.6	24.5	24.6
Future retirees
- men	25.0	25.0	22.4	22.4	25.5	25.6
- women	26.8	26.8	24.2	24.2	26.9	27.0

The above data allows for future improvements in life expectancy.

Impact on Consolidated Income Statement

The total retirement benefit expense in the Consolidated Income Statement is as follows:

	2024	2023
	\$m	\$m
Total defined contribution expense	356	329
Total defined benefit expense	38	34
Total expense in Consolidated Income Statement	394	363

At December 31, 2024, \$113 million (2023: \$110 million) was included in trade and other payables in respect of defined contribution pension liabilities.

Analysis of defined benefit expense

Charged in arriving at profit before finance costs:
Current service cost	31	27
Administration expenses	5	6
Past service credit net	(2)	–
Subtotal	34	33
Included in finance income and finance costs respectively:
Interest income on scheme assets	(91)	(100)
Interest cost on scheme liabilities	95	101
Net interest expense	4	1
Net expense in Consolidated Income Statement	38	34
The composition of the net expense in the Consolidated Income Statement is as follows:
Eurozone	13	8
United States and Canada	13	15
Switzerland	6	6
Other	6	5

Total 38 34

	2024	2023
Reconciliation of scheme assets (bid value)	\$m	\$m
At January 1	2,611	2,443
Movement in year
Interest income on scheme assets Remeasurement adjustments	91	100
- return on scheme assets excluding interest income	(25)	57
Employer contributions paid	33	35
Contributions paid by plan participants	8	7
Benefit and settlement payments	(143)	(126)
Administration expenses	(5)	(6)
Increase due to transactions	84	–
Translation adjustment	(133)	101
Fair value of plan assets	2,521	2,611
Remeasurement adjustments
- impact of asset ceiling (i)	(122)	(26)
At December 31	2,399	2,585
The composition of scheme assets is as follows:
Eurozone	1,156	1,278
United States and Canada	629	668
Switzerland	399	437
Other	215	202
Total	2,399	2,585
Reconciliation of actuarial value of liabilities
At January 1	(2,591)	(2,371)
Movement in year
Current service cost	(31)	(27)
Past service credit net	2	–
Interest cost on scheme liabilities	(95)	(101)
Reclassified (from)/as held for sale	(47)	47
Divestitures	46	–
Increase due to transactions	(75)	–
Remeasurement adjustments
- experience variations	(12)	(11)
- actuarial gain/(loss) from changes in financial assumptions	52	(171)
- actuarial gain from changes in demographic assumptions	32	10
Contributions paid by plan participants	(8)	(7)
Benefit and settlement payments	143	126
Translation adjustment	123	(86)
At December 31	(2,461)	(2,591)
The composition of the actuarial value of liabilities is as follows:
Eurozone	(1,110)	(1,210)
United States and Canada	(751)	(814)
Switzerland	(389)	(365)
Other	(211)	(202)
Total	(2,461)	(2,591)
Net pension deficit (ii)	(62)	(6)
Related deferred income tax asset	19	33
Net pension (deficit)/asset	(43)	27
The composition of the net pension (deficit)/asset is as follows:
Eurozone	36	62
United States and Canada	(91)	(110)
Switzerland Other	7 5	73 2
Total	(43)	27
(i) Remeasurement adjustments from the change in the asset ceiling reported in other comprehensive income for
2024 is \$101 million (2023: \$71 million).
(ii) Reconciliation to Consolidated Balance Sheet
Retirement benefit assets	169	248
Retirement benefit obligations	(231)	(254)

Net pension deficit (62) (6)

Sensitivity analysis

The revised liabilities due to the impact of a reasonably possible change (as indicated below) in the principal actuarial assumptions would be as follows:

		Eurozone	United States and Canada	Switzerland	Other	Total
		2024	2024	2024	2024	2024
		\$m	\$m	\$m	\$m	\$m
Scheme liabilities at December 31		(1,110)	(751)	(389)	(211)	(2,461)
Revised liabilities
Discount rate	Increase by 0.25%	(1,071)	(733)	(378)	(202)	(2,384)
	Decrease by 0.25%	(1,151)	(769)	(400)	(215)	(2,535)
Inflation rate	Increase by 0.25%	(1,151)	(752)	(389)	(211)	(2,503)
	Decrease by 0.25%	(1,072)	(749)	(388)	(206)	(2,415)
Mortality assumption	Increase by 1 year	(1,073)	(731)	(378)	(203)	(2,385)
	Decrease by 1 year	(1,147)	(770)	(399)	(214)	(2,530)

The above sensitivity analysis is derived through changing the individual assumption while holding all other assumptions constant.

	2024	2023
Split of scheme assets	\$m	\$m
Investments quoted in active markets
Equity instruments (i)	502	483
Debt instruments (ii)	1,529	1,512
Property	111	103
Cash and cash equivalents	37	52
Investment funds	124	109
Unquoted investments
Equity instruments	2	2
Debt instruments (iii)	15	139
Property	80	82
Cash and cash equivalents	18	15
Investment funds	1	–
Assets held by insurance company	102	114
Total assets	2,521	2,611

(i) Equity instruments primarily relate to developed markets.

(ii) Quoted debt instruments are made up of \$1,024 million (2023: \$1,038 million) and \$505 million (2023: \$474 million) of government and non-government instruments respectively.

(iii) Unquoted debt instruments primarily relate to non-government debt instruments.

Actuarial valuations - funding requirements and future cash flows

In accordance with statutory requirements in the Republic of Ireland and funding requirements set by the Trustees in the United Kingdom, additional annual contributions and lump-sum payments are determined to get the plans to a fully funded position (on a funding basis). The funding requirements in relation to the Company's defined benefit schemes are assessed in accordance with the advice of independent and qualified actuaries and valuations are prepared in this regard either annually, where local requirements mandate that this be done, or at triennial intervals at a maximum in all other cases. In the Republic of Ireland and the United Kingdom, either the attained age or projected unit credit methods are used in the valuations. In Canada, Germany, Switzerland and the United States, valuations are performed in accordance with the projected unit credit methodology. The dates of the funding valuations range from January 2021 to January 2024.

In general, funding valuations are not available for public inspection; however, the results of valuations are advised to the members of the various schemes on request. The Company has contracted payments (presented on a discounted basis) to certain schemes in the United Kingdom as follows:

	2024	2023
	\$m	\$m
Within one year	3	3
Between one and two years	3	3
Between two and three years	3	3
Between three and four years	2	3
Between four and five years	2	2
After five years	5	7
Total	18	21

Employer contributions payable in the 2025 financial year including minimum funding payments (expressed using year-end exchange rates for 2024) are estimated at \$33 million.

Average duration and scheme composition

	Eurozone		United States and Canada		Switzerland
	2024	2023	2024	2023	2024	2023
Average duration of defined benefit obligation (years)	15.0	15.2	10.3	11.0	11.4	15.2
Allocation of defined benefit obligation by participant:
Active plan participants	70%	70%	44%	46%	76%	76%
Deferred plan participants	10%	10%	15%	15%	–	–
Retirees	20%	20%	41%	39%	24%	24%

28. Share Capital and Reserves

Equity share capital	2024	2023
	Ordinary Shares of €0.32 each (i)	Ordinary Shares of €0.32 each (i)
Authorized
At January 1 and December 31 (\$m)	491	491
Number of Shares at January 1 and December 31 (millions)	1,250	1,250
Allotted, called-up and fully paid
At January 1 (\$m)	296	302
Cancellation of Shares (ii)	(6)	(6)
At December 31 (\$m)	290	296

The movement in the number of shares (expressed in millions) during the financial year was as follows:

At January 1	734	752
Cancellation of Shares (ii)	(16)	(18)
At December 31	718	734

(i) The Ordinary Shares represent 99.49% of the total issued share capital as at December 31, 2024 (2023: 99.50%).

(ii) In 2024, 15,872,321 Ordinary Shares were purchased as part of the share buyback program (the Program) and immediately cancelled. The amount paid to repurchase these shares was recognized in retained income on cancellation. During 2023, 17,620,740 Ordinary Shares were purchased as part of the Program and immediately cancelled.

Share schemes

The aggregate number of shares which may be committed for issue in respect of any share option scheme, savings-related share option scheme, share participation scheme, performance share plan or any subsequent share option scheme or share plan, may not exceed 10% of the issued ordinary share capital from time to time.

Share option schemes

Details of share options granted under the Company's share option schemes and the terms attaching thereto are provided in Note 7 to the financial statements. A total of 236,581 Treasury shares were re-issued during the financial year to satisfy the exercise of options over Ordinary Shares under these share option schemes (2023: 183,333).

Share participation schemes

As at December 31, 2024, 8,769,873 (2023: 8,700,494) Ordinary Shares had been appropriated to participation schemes. In 2024, the appropriation was satisfied by the purchase of 69,379 shares (2023: 106,828 satisfied by the purchase of shares). The Ordinary Shares appropriated pursuant to these schemes were issued at market value on the dates of appropriation. The shares issued pursuant to these schemes are excluded from the scope of IFRS 2 Share-based payments and hence are not factored into the expense computation and the associated disclosures in Note 7.

Preference share capital	5% Cumulative Preference Shares of €1.27 each		7% 'A' Cumulative Preference Shares of €1.27 each
	Number of Shares		Number of Shares
	'000s	\$m	'000s	\$m
Authorized
At January 1, 2024 and December 31, 2024	150	–	872	1
Allotted, called-up and fully paid
At January 1, 2024 and December 31, 2024	50	–	872	1

There was no movement in the number of cumulative preference shares in either the current or the prior year.

The holders of the 5% Cumulative Preference Shares are entitled to a fixed cumulative preference dividend at a rate of 5% per annum and priority in a winding-up to repayment of capital, but have no further right to participate in profits or assets and are not entitled to be present or vote at general meetings unless their dividend is in arrears. Dividends on the 5% Cumulative Preference Shares are payable half-yearly on April 15 and October 15 in each year. The 5% Cumulative Preference Shares represent 0.03% of the total issued share capital as at December 31, 2024 (2023: 0.03%).

The holders of the 7% 'A' Cumulative Preference Shares are entitled to a fixed cumulative preference dividend at a rate of 7% per annum, and subject to the rights of the holders of the 5% Cumulative Preference Shares, priority in a winding-up to repayment of capital, but have no further right to participate in profits or assets and are not entitled to be present or vote at general meetings unless their dividend is in arrears or unless the business of the meeting includes certain matters, which are specified in the Articles of Association. Dividends on the 7% 'A' Cumulative Preference Shares are payable half-yearly on April 5 and October 5 in each year. The 7% 'A' Cumulative Preference Shares represent 0.48% of the total issued share capital as at December 31, 2024 (2023: 0.47%).

Treasury shares/own shares	2024	2023
	\$m	\$m
At January 1	(2,199)	(297)
Own shares released by the Employee Benefit Trust under the 2014 Performance Share Plan	234	111
Shares acquired by CRH plc (Treasury shares) (i)	–	(1,955)
Shares acquired by Employee Benefit Trust (own shares)	(180)	(64)
Treasury shares/own shares reissued (ii)	8	6
At December 31	(2,137)	(2,199)

The movement in the number of Treasury shares/own shares during the financial year is outlined in the table below.

	Number of shares
	2024	2023
At January 1	42,419,281	7,712,885
Own shares released by the Employee Benefit Trust under the 2014 Performance Share Plan	(3,452,316)	(3,362,689)
Shares acquired by CRH plc (Treasury shares) (i)	–	37,280,188
Shares acquired by Employee Benefit Trust (own shares)	2,625,000	972,230
Treasury shares/own shares reissued (ii)	(236,581)	(183,333)
At December 31	41,355,384	42,419,281
Split of Treasury shares/own shares (iii)
Treasury shares	40,968,909	41,205,490
Own shares	386,475	1,213,791
	41,355,384	42,419,281

(i) During 2024, CRH repurchased a total of 15,872,321 Ordinary Shares (cancelled immediately on purchase) returning a further \$1.3 billion of cash to shareholders. This brings total cash returned to shareholders under the Program to \$8.4 billion since its commencement in May 2018.

(ii) These reissued Treasury shares were previously purchased at an average price of \$36.09 (2023: \$33.24).

(iii) As at the balance sheet date, the nominal value of the Treasury shares and own shares was €13.1 million and €0.1 million respectively (2023: €13.2 million and €0.4 million respectively). Dividends have been waived by the Trustees of the own shares.

	2024		2023
	Number of Shares	\$m	Number of Shares	\$m
Ordinary Shares repurchased during the period	–	–	37,280,188	1,955
Ordinary Shares repurchased and cancelled during the period	15,872,321	1,302	17,620,740	1,048

On November 7, 2024, CRH commenced a further phase of the Program which was entered into with Mizuho Securities USA LLC (Mizuho) to repurchase ordinary shares listed on the NYSE on CRH's behalf for an aggregate maximum consideration of \$300 million. This phase will end no later than February 26, 2025.

29. Business Combinations

The acquisitions completed during the year ended December 31, 2024, by reportable segment, together with the completion dates, are detailed below; these transactions entailed the acquisition of an effective 100% stake except where indicated to the contrary:

Americas Materials Solutions:

Substantial acquisition: On February 9, 2024, the Company acquired a portfolio of cement and readymixed concrete operations and assets in Texas, United States (the 'Hunter' acquisition) for a total cash consideration, net of cash acquired, of \$2,106 million. The operations acquired are located in the United States and are expected to strengthen our position in Texas as well as increasing exposure to attractive, higher-growth markets.

Alabama: P&R Mining (December 13);

California: BoDean Company Inc. & Northgate Ready-Mix LLC. (April 5) and Dutra Materials (November 15);

Colorado: Precision Excavating, Inc. (May 22), A&S Construction, Inc., Ary Brothers Trucking, Inc. and Freemont Paving and Redi Mix, Inc. (July 19);

Idaho: Central Paving Co, Inc. (October 18);

Kentucky: Yager Materials, LLC (October 11);

Louisiana: Builders Supply Company, Inc. (October 25);

Massachusetts: Rochester Bituminous Products, Inc. (August 21);

Mississippi: Greenville Gravel Co. (May 31) and Hammett Gravel Company, Inc. (October 18);

North Carolina: D&S Asphalt Materials, Inc. (August 30);

Oregon: DeSource, Inc. (January 16);

Texas: Cadence Environmental Energy (February 23), Coastal Ready Mix, Inc and Gary Whitman Materials, Inc. (June 21), Lone Star Concrete, Lone Star Precast and a 18.75% investment in Lone Star Pipe (June 28), Few Ready Mix Concrete Co. (September 6) and Montana Nelson Ready Mix, LLC (September 27);

Utah: certain assets of Geofortis LLC (September 3); and

West Virginia: Adams Trucking and Supply, Inc. (August 23).

Americas Building Solutions:

Arizona: Master Block, Inc. (August 1); California: Cook Concrete Products (October 28) and certain assets of Yardzen, Inc. (November 6); Florida: certain assets of Fence Outlet Inc. (January 12) and Sunscape LLC (July 30); Georgia: Diamond Concrete Products, LLC (November 8); Idaho: Idaho Precast, Inc. (March 1); Minnesota: Nordic Fiberglass, Inc. (July 13); Virginia: Frederick Block Company, Inc. (January 31); and West Virginia: Lowe Products Co, Inc. (May 22).

International Solutions:

Substantial acquisition: On February 26, 2024, the Company announced that it had entered into a binding agreement to acquire a majority stake in Adbri (the 'Adbri acquisition'), a materials business in Australia. On July 1, 2024, the Adbri acquisition was completed with the acquisition of 57% of the issued share capital for a total cash consideration, net of cash acquired, of \$787 million. The assets acquired complement the Company's core competencies in cement, concrete and aggregates while creating additional opportunities for growth and development for the Company's existing Australian business.

Australia: CTC Precast Pty Ltd (October 31) and Viscount Rotational Mouldings (December 31);

Finland: SepeliTekniikka Oy (April 2);

France: Est Matériaux RMC (June 1);

Romania: TehnoWorld S.R.L. (August 1);

Switzerland: Mittelland Transport AG (March 22); and

Ukraine: Astor Invest LLC (February 21) and Dyckerhoff Cement Ukraine JSC, Dyckerhoff Ukraine LLC and Dyckerhoff Transport Ukraine LLC (October 14).

The identifiable net assets acquired, including adjustments to provisional fair values, were as follows:

	Hunter (i)	Adbri (i)	Other (ii)	Total
	2024	2024	2024	2024	2023
	\$m	\$m	\$m	\$m	\$m
ASSETS
Non-current assets
Property, plant and equipment	1,081	1,382	935	3,398	287
Intangible assets	2	4	184	190	86
Equity method investments	–	366	–	366	–
Total non-current assets	1,083	1,752	1,119	3,954	373
Current assets
Inventories	70	133	149	352	65
Trade and other receivables (iii)	2	162	160	324	78
Current income tax recoverable	–	4	–	4	1
Cash and cash equivalents	–	15	38	53	19
Other assets	–	9	7	16	–
Total current assets	72	323	354	749	163
LIABILITIES
Trade and other payables	(7)	(116)	(109)	(232)	(86)
Provisions for liabilities	(2)	(117)	(12)	(131)	(6)
Lease liabilities	(12)	(48)	(99)	(159)	(35)
Interest-bearing loans and borrowings	–	(519)	(9)	(528)	(104)
Deferred income tax liabilities	–	(203)	(27)	(230)	(30)
Other liabilities	–	–	(13)	(13)	–
Total liabilities	(21)	(1,003)	(269)	(1,293)	(261)
Total identifiable net assets at fair value	1,134	1,072	1,204	3,410	275
Goodwill arising on acquisition (iv)	972	237	940	2,149	398
Non-controlling interests	–	(507)	–	(507)	–
Total consideration	2,106	802	2,144	5,052	673
Consideration satisfied by:
Cash payments	2,106	802	2,045	4,953	659
Asset exchange	–	–	41	41	–
Deferred consideration (stated at net present cost)	–	–	39	39	8
Contingent consideration	–	–	19	19	6
Total consideration	2,106	802	2,144	5,052	673
Net cash outflow arising on acquisition
Cash consideration	2,106	802	2,045	4,953	659
Less: cash and cash equivalents acquired	–	(15)	(38)	(53)	(19)
Total outflow in the Consolidated Statement of Cash Flows	2,106	787	2,007	4,900	640

Notes (i) to (iv) are set out overleaf.

The acquisition balance sheet presented on the previous page reflects the identifiable net assets acquired in respect of acquisitions completed during 2024, together with adjustments to provisional fair values in respect of acquisitions completed during 2023. The measurement period for a number of acquisitions completed in 2023, closed in 2024 with no material adjustments identified.

• (i) CRH performs a detailed quantitative and qualitative assessment of each acquisition in order to determine whether it is material for the purposes of separate disclosure under IFRS 3 Business Combinations. The Hunter acquisition and the Adbri acquisition are deemed to be material acquisitions. None of the remaining acquisitions completed during the financial year were considered sufficiently material to warrant separate disclosure of the attributable fair values. The identifiable assets acquired, liabilities assumed, and consideration related to Hunter are determined to be final. Due to the size and scale of Adbri, the determination of the fair values of identifiable assets acquired and liabilities assumed as disclosed above are provisional (principally in respect of property, plant and equipment, provisions for liabilities and the associated goodwill and deferred tax aspects). The fair value assigned to identifiable assets and liabilities acquired is based on estimates and assumptions made by management at the time of acquisition. CRH may revise its purchase price allocation during the subsequent reporting window as permitted under IFRS 3.
• (ii) The determination of the fair values of identifiable assets acquired and liabilities assumed for other acquisitions as disclosed above are provisional.
• (iii) The gross contractual value of trade and other receivables as at the respective dates of acquisition amounted to \$327 million (2023: \$78 million). The fair value of these receivables is \$324 million (all of which is expected to be recoverable) (2023: \$78 million).
• (iv) The principal factor contributing to the recognition of goodwill on acquisitions entered into by the Company is the realization of cost savings and other synergies with existing entities in the Company which do not qualify for separate recognition as intangible assets. \$1,707 million of the goodwill recognized in respect of acquisitions completed in 2024 is expected to be deductible for tax purposes (2023: \$33 million).

	2024	2023
Acquisition-related costs	\$m	\$m
Hunter	23	–
Adbri	23	–
Other acquisitions	27	10
Total	73	10

The above acquisition-related costs, which exclude post-acquisition integration costs, have been included in operating costs in the Consolidated Income Statement (Note 3).

The following table analyzes the 40 acquisitions completed in 2024 (2023: 22 acquisitions) by reportable segment and provides details of the goodwill and consideration figures arising in each of those segments:

	Number of acquisitions		Goodwill		Consideration
Reportable segments	2024	2023	2024	2023	2024	2023
			\$m	\$m	\$m	\$m
Americas Materials Solutions	21	8	1,420	29	3,245	97
Americas Building Solutions	10	5	330	249	540	269
International Solutions	9	9	402	117	1,268	308
Total	40	22	2,152	395	5,053	674
Adjustments to provisional fair values of prior year acquisitions			(3)	3	(1)	(1)
Total			2,149	398	5,052	673

The post-acquisition impact of acquisitions completed during the year on the Company's profit for the financial year was as follows:

	2024	2023
	\$m	\$m
Revenue	1,387	228
Loss before tax for the financial year	(11)	(14)

There have been no other acquisitions completed subsequent to the balance sheet date which would be individually material to the Company, thereby requiring disclosure under either IFRS 3 or IAS 10 Events after the Balance Sheet Date. Development updates, giving details of acquisitions which do not require separate disclosure on the grounds of materiality, are published periodically.

30. Non-controlling Interests

The total non-controlling interests at December 31, 2024, is \$965 million (2023: \$521 million) of which \$264 million (2023: \$297 million) relates to Republic Cement & Building Materials, Inc. (RCBM) and Republic Cement Land & Resources, Inc. (RCLR) and \$481 million (2023: \$nil million) relates to Adbri. The non-controlling interests in respect of the Company's other subsidiaries are not considered to be material.

Name	Principal activity	Country of incorporation	Economic ownership interest held by non-controlling interest
Republic Cement & Building Materials, Inc. and Republic Cement Land & Resources, Inc.	Manufacture, distribution and sale of cement and building materials	Philippines	45%
Adbri Limited	Manufacture and distribution of cement, and cementitious products, lime, premixed concrete, aggregates, and concrete masonry products	Australia	43%

The following is summarized financial information for RCBM and RCLR, and Adbri prepared in accordance with IFRS 12 Disclosure of Interests in Other Entities. This information is before intragroup eliminations with other CRH companies.

	Adbri	RCBM and RCLR
	2024	2024	2023
Summarized financial information	\$m	\$m	\$m
Profit/(loss) for the year	24	(44)	(327)
Current assets	265	213	200
Non-current assets	1,918	1,042	1,128
Current liabilities	(256)	(209)	(252)
Non-current liabilities	(687)	(681)	(649)
Net assets	1,240	365	427
Cash flows from operating activities	102	10	24

In 2024, there were \$19 million and \$nil million of dividends paid to non-controlling interests of the combined Philippines business and Adbri, respectively (2023: \$nil million).

CRH holds 40% of the equity share capital in RCBM and RCLR and has an economic interest of 55% of the combined Philippines business. Non-controlling interest relates to another party who holds 60% of the equity share capital in RCBM and RCLR and has an economic interest of 45% of the combined Philippines business. CRH has obtained control (as defined under IFRS 10 Consolidated Financial Statements) by virtue of contractual arrangements which give CRH power to direct the relevant non-nationalized activities of the business, in compliance with Philippine law.

Non-controlling interest in Adbri relates to another party who holds 43% of the remaining equity share capital. CRH has obtained control by virtue of holding a majority shareholding.

31. Related Party Transactions

The principal related party relationships requiring disclosure in the Consolidated Financial Statements of the Company under IAS 24 Related Party Disclosures pertain to: the existence of subsidiaries, joint ventures and associates; transactions with these entities entered into by the Company; the identification and compensation of key management personnel; and lease arrangements.

Subsidiaries, joint ventures and associates

The Consolidated Financial Statements include the financial statements of the Company (CRH plc, the ultimate parent) and its subsidiaries as well as its joint ventures and associates accounted for by applying the equity method as outlined in the accounting policies on pages 47 to 57. The Company's principal subsidiaries, joint ventures and associates are disclosed on pages 136 to 140.

Sales to and purchases from joint ventures and associates are as follows:

	Joint ventures		Associates
	2024	2023	2024	2023
	\$m	\$m	\$m	\$m
Sales	251	162	45	59
Purchases	101	46	30	24

Loans extended by the Company to joint ventures and associates are included in financial assets (see Note 14). Amounts receivable from and payable to equity method investments (arising from the aforementioned sales and purchases transactions) as at the balance sheet date are included as separate line items in Notes 16 and 17 to the Consolidated Financial Statements.

Terms and conditions of transactions with subsidiaries, joint ventures and associates

Sales to and purchases from joint ventures and associates are conducted in the ordinary course of business and on terms equivalent to those that prevail in arms-length transactions. The outstanding balances included in receivables and payables as at the balance sheet date in respect of transactions with joint ventures and associates are unsecured and settlement of these arise in cash. No guarantees have been either requested or provided in relation to related party receivables and payables. Loans to joint ventures and associates (as disclosed in Note 14) are extended on normal commercial terms in the ordinary course of business with interest accruing and, in general, paid to the Company at predetermined intervals.

Key management personnel

For the purposes of the disclosure requirements of IAS 24, the term "key management personnel" (i.e. those persons having authority and responsibility for planning, directing and controlling the activities of the Company) comprises of the Board of Directors and the CODM (as defined in IFRS 8) which manage the business and affairs of the Company.

Key management remuneration amounted to:	2024	2023
	\$m	\$m
Short-term benefits	17	15
Post-employment benefits	–	1
Share-based payments - calculated in accordance with the principles disclosed in Note 7	11	11
Total	28	27

Other than these compensation entitlements, there were no other transactions involving key management personnel.

Directors' emoluments

	2024 (i)	2023 (i)
	\$m	\$m
Emoluments (ii)	12	11
Gains by the Directors on the exercise of share options (iii)	–	–
Benefits under long-term incentive schemes (iv)	22	13
Total	34	24

Directors' emoluments are included in administrative expenses in Note 3.

• (i) All compensation of the Directors outlined in this table was received/valued in euro and has been converted to U.S. Dollar using the average Bloomberg composite rate for the applicable year.
• (ii) For the purposes of Section 305 of the Companies Act 2014, "emoluments" includes any salaries, fees, bonuses or expenses received by the Directors of CRH plc in respect of the years ended December 31, 2024, and 2023.
• (iii) Jim Mintern exercised an option under the Company's Share Option Scheme on August 20, 2024, under which he acquired 1,247 Ordinary Shares at a price of €24.24 per Ordinary Share. The total gain on exercise, converted to U.S. Dollar using the average Bloomberg composite rate for 2024, was \$70,523. Albert Manifold exercised an option under the Company's Share Option Scheme on August 24, 2023, under which he acquired 1,293 Ordinary Shares at a price of €23.39 per Ordinary Share. The total gain on exercise, converted to U.S. Dollar using the average Bloomberg composite rate for 2023, was \$39,663.
• (iv) The amounts in the long-term incentive column for 2024 reflect the value of long-term incentive awards with a performance period ending in 2024 (i.e. the Performance Share Plan awards granted in 2022). In February 2025, the Compensation Committee determined that 98.75% of the maximum Performance Share Plan awards made in 2022 will vest, based on performance. The awards for Albert Manifold and Jim Mintern, are subject to a further two-year holding period and will vest in 2027. For the purposes of this table, the value of these awards has been estimated using a share price of \$96.23, being the three-month average share price to December 31, 2024. Amounts in the long-term incentive column for 2023 reflect the value of long-term incentive awards with a performance period ending in 2023 (i.e. the Performance Share Plan awards granted in 2021), which the Compensation Committee determined in February 2024 had met the applicable performance targets. The award for Albert Manifold is scheduled to vest in 2026 following the completion of a two-year holding period. The award for Jim Mintern, which was granted prior to his appointment to the Board, vested in March 2024. For the purposes of this table, the value of these awards has been estimated using a share price of \$60.35, being the three-month average share price to December 31, 2023.

Lease arrangements

CRH has a number of lease arrangements in place with related parties across the Company, which have been negotiated on an arms-length basis at market rates. We do not consider these arrangements to be material either individually or collectively in the context of the 2024 and 2023 Consolidated Financial Statements.

32. Board Approval

The Board of Directors approved and authorized for issue the financial statements on pages 42 to 112 in respect of the year ended December 31, 2024, on February 26, 2025.

Parent Company Balance Sheet

as at December 31, 2024

		2024	2023
		\$m	\$m
Notes
	Fixed assets
3	Financial assets	9,689	9,685
	Current assets
4	Debtors	307	332
	Cash at bank and in hand	2	831
	Total current assets	309	1,163
	Creditors (amounts falling due within one year)
5	Trade and other creditors	2,890	1,717
	Total current liabilities	2,890	1,717
	Net current liabilities	(2,581)	(554)
	Net assets	7,108	9,131
	Capital and reserves
8	Called-up share capital	290	296
8	Preference share capital	1	1
8	Treasury shares and own shares	(2,137)	(2,199)
9	Revaluation reserve	62	62
	Other reserves	286	389
	Foreign currency translation reserve	(793)	(791)
9	Profit and loss account (i)	9,399	11,373
	Total equity	7,108	9,131

(i) In accordance with section 304 of the Companies Act 2014, the profit for the financial year of the Parent Company amounted to \$1,045 million (2023: \$3,994 million).

R. Boucher, J. Mintern, Directors

Parent Company Statement of Changes in Equity

for the financial year ended December 31, 2024

	Issued share capital	Treasury shares/own shares	Revaluation reserve	Other reserves	Foreign currency translation reserve	Profit and loss account	Total equity
	\$m	\$m	\$m	\$m	\$m	\$m	\$m
At January 1, 2024	297	(2,199)	62	389	(791)	11,373	9,131
Profit for the financial year	–	–	–	–	–	1,045	1,045
Total comprehensive income	–	–	–	–	–	1,045	1,045
Share-based payment expense	–	–	–	125	–	–	125
Treasury shares/own shares reissued	–	8	–	–	–	(8)	–
Shares acquired by Employee Benefit Trust (own shares)	–	(180)	–	–	–	–	(180)
Shares distributed under the Performance Share Plan Awards	–	234	–	(234)	–	(11)	(11)
Shares acquired and cancelled by CRH plc	(6)	–	–	6	–	(1,302)	(1,302)
Share option exercises	–	–	–	–	–	8	8
Dividends	–	–	–	–	–	(1,706)	(1,706)
Translation adjustment	–	–	–	–	(2)	–	(2)
At December 31, 2024	291	(2,137)	62	286	(793)	9,399	7,108
for the financial year ended December 31, 2023
At January 1, 2023	303	(297)	62	371	(1,162)	9,086	8,363
Profit for the financial year	–	–	–	–	–	3,994	3,994
Total comprehensive income	–	–	–	–	–	3,994	3,994
Share-based payment expense	–	–	–	123	–	–	123
Shares acquired by CRH plc (Treasury shares)	–	(1,955)	–	–	–	281	(1,674)
Treasury shares/own shares reissued	–	6	–	–	–	(6)	–
Shares acquired by Employee Benefit Trust (own shares)	–	(64)	–	–	–	–	(64)
Shares distributed under the Performance Share Plan Awards	–	111	–	(111)	–	–	–
Shares acquired and cancelled by CRH plc	(6)	-	–	6	–	(1,048)	(1,048)
Share option exercises	–	–	–	–	–	4	4
Dividends	–	–	–	–	–	(938)	(938)
Translation adjustment	–	–	–	–	371	–	371
At December 31, 2023	297	(2,199)	62	389	(791)	11,373	9,131

Notes to the Parent Company Balance Sheet

1. Basis of Preparation

The financial statements have been prepared on a going concern basis under the historical cost convention in accordance with the Companies Act 2014 and GAAP in the Republic of Ireland (Financial Reporting Standard 101 Reduced Disclosure Framework (FRS 101)). Note 2 below describes the principal accounting policies under FRS 101, which have been applied consistently.

In these financial statements the Parent Company has applied the exemptions available under FRS 101 in respect of the following disclosures:

• Statement of Cash Flows;
• Disclosures in respect of transactions with wholly-owned subsidiaries;
• Certain requirements of IAS 1 Presentation of Financial Statements;
• Disclosures required by IFRS 7 Financial Instrument Disclosures;
• Disclosures required by IFRS 13 Fair Value Measurement; and
• The effects of new but not yet effective IFRSs.

2. Accounting Policies

General information

The Parent Company and its subsidiaries (together the 'Company') operates in the building materials industry, providing essential products and services for construction projects worldwide. The Company is one of the largest suppliers of building materials globally. The Company is a major producer of aggregates, cement, readymixed concrete, and asphalt and a supplier of paving and constructions services, providing solutions to a wide range of customers, including contractors, builders, engineers, infrastructure developers, and the residential market. The Parent Company is a public limited company whose shares are publicly traded. The Parent Company is incorporated and domiciled in the Republic of Ireland. The Parent Company's registered number is 12965 and registered office address is 42 Fitzwilliam Square, Dublin 2, Ireland.

Key accounting policies which involve estimates, assumptions and judgments

No key accounting judgments or estimates were required in the current year.

Other material accounting policies

Cash and cash equivalents

Cash and cash equivalents comprise cash balances held for the purpose of meeting short-term cash commitments and investments which are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value. Bank overdrafts are included within creditors falling due within one year in the Parent Company Balance Sheet.

Financial assets

Investments in subsidiaries, are stated at cost less any accumulated impairment and are reviewed for impairment if there are indications that the carrying value may not be recoverable. Impairment assessment is considered as part of the Parent Company's overall impairment assessment.

Foreign currencies

As a result of the Parent Company completing its NYSE listing in September 2023, the primary economic environment and generation and use of cash flows for the Parent Company is mainly denominated in U.S. Dollar. Consequently, effective January 1, 2024, the Parent Company changed its functional currency from the euro to U.S. Dollar.

Transactions in foreign currencies are translated at the rates of exchange in effect at the transaction date. Monetary assets and liabilities denominated in foreign currencies are translated into U.S. Dollar at the rates of exchange in effect at the balance sheet date, with a corresponding charge or credit to the profit and loss account.

The presentation currency of the Parent Company is U.S. Dollar.

Loans receivable and payable

Intercompany loans receivable and payable are initially recognized at fair value. These are subsequently measured at amortized cost, less any loss allowance.

Share-based payments

The Parent Company has applied the requirements of Section 8 of FRS 101.

The accounting policy applicable to share-based payments is addressed in detail on page 51 of the Consolidated Financial Statements.

Treasury shares and own shares

Treasury shares

Own equity instruments (i.e. Ordinary Shares) acquired by the Parent Company are deducted from equity and presented on the face of the Parent Company Balance Sheet. No gain or loss is recognized in profit or loss on the purchase, sale, issue or cancellation of the Parent Company's Ordinary Shares. A financial liability is recorded if a contractual obligation to repurchase shares exists at the balance sheet date.

Own shares

Ordinary Shares purchased by the Employee Benefit Trust on behalf of the Parent Company under the terms of the Performance Share Plan are recorded as a deduction from equity on the face of the Parent Company Balance Sheet.

Dividends

Dividends on Ordinary Shares are recognized as a liability in the Parent Company's Financial Statements in the period in which they are declared by the Company and approved by shareholders in respect of final dividends. In respect of interim dividends, a liability is recognized when the Parent Company has an obligation to pay.

Dividend income

Dividend income is recognized when the right to receive payment is established.

Operating income and expense

Operating income and expense arises from the Parent Company's principal activities as a holding and financing company for the Company and are accounted for on an accruals basis.

3. Financial Assets

The Parent Company's investment in its subsidiaries is as follows:

	Shares	Other	Total
	\$m	\$m	\$m
At January 1, 2024 at cost	9,147	538	9,685
Capital contribution in respect of share-based payments	–	4	4
At December 31, 2024 at cost	9,147	542	9,689
The equivalent disclosure for the prior year is as follows:
At January 1, 2023 at cost	8,221	478	8,699
Capital contribution in respect of share-based payments	–	32	32
Additions (i)	2,288	–	2,288
Divestitures	(1,667)	–	(1,667)
Translation adjustment	305	28	333
At December 31, 2023 at cost	9,147	538	9,685

(i) Additions during the year ended December 31, 2023, include \$3.4 billion in respect of the transfer of ownership of CRH Belgard Limited to the Parent Company from CRH International Unlimited Company (CRI), net of a corresponding deduction in the Parent Company's investment in CRI of \$3.4 billion.

The Parent Company's principal subsidiaries, joint ventures and associates are disclosed on pages 136 to 140.

Pursuant to Section 348(4) of the Companies Act 2014, a full list of subsidiaries, joint ventures and associated undertakings will be annexed to the Parent Company's annual return to be filed in the Companies Registration Office in Ireland.

4. Debtors

	2024	2023
	\$m	\$m
Amounts owed by subsidiary undertakings	307	332

Amounts owed by subsidiary undertakings are repayable on demand.

5. Creditors

	2024	2023
	\$m	\$m
Amounts falling due within one year
Amounts owed to subsidiary undertakings	2,879	1,706
Other creditors	11	11
	2,890	1,717

Amounts owed to subsidiary undertakings are repayable on demand.

6. Auditor's Remuneration (Memorandum Disclosure)

In accordance with Section 322 of the Companies Act 2014, the fees paid in 2024 to the statutory auditor Deloitte Ireland LLP (Deloitte) for work engaged by the Parent Company comprised audit fees of \$22,750 (2023: \$22,000) and other assurance services of \$nil (2023: \$8,000).

The statutory auditor has not provided any tax advisory or other non-audit services to the Parent Company during the financial year (2023: \$nil).

7. Dividends Proposed (Memorandum Disclosure)

Details in respect of the Q1 2025 dividend proposed of \$[250] million and dividends paid of \$1,706 million during the year are presented in the dividends note (Note 10) on page 71 of the notes to the Consolidated Financial Statements (2024: \$750 million relating to the second interim 2023 dividend).

8. Called-up Share Capital

Called-up Share Capital

Details in respect of called-up share capital, preference share capital, Treasury shares and own shares are presented in the share capital and reserves note (Note 28) on pages 105 to 106 of the notes to the Consolidated Financial Statements.

9. Reserves

Revaluation Reserve

The Parent Company's revaluation reserve arose on the revaluation of certain investments prior to the transition to FRS 101.

Other Reserves

The Parent Company's other reserves includes \$46 million (2023: \$40 million) undenominated share capital that arose on the cancellation of the Treasury shares/Ordinary Shares.

In accordance with Section 304 of the Companies Act 2014, the Parent Company is availing of the exemption from presenting its individual profit and loss account to the AGM and from filing it with the Registrar of Companies.

The reserves of the Parent Company available for distribution are restricted by the amount of the consideration paid for the Treasury shares and own shares held by the Parent Company, \$2,137 million as at December 31, 2024 (2023: \$2,199 million) and the undenominated share capital of \$46 million as at December 31, 2024 (2023: \$40 million).

10. Share-based Payments

The total expense of \$125 million (2023: \$123 million) reflected in the Consolidated Financial Statements attributable to employee share options and performance share awards has been included as a capital contribution in financial assets (Note 3) in addition to any payments to/from subsidiaries.

11. Section 357 Guarantees

Any Irish registered wholly-owned subsidiary of the Parent Company may avail of the exemption from filing its statutory financial statements for the year ended December 31, 2024, as permitted by Section 357 of the Companies Act 2014 and if an Irish registered wholly-owned subsidiary of the Parent Company elects to avail of this exemption, there will be in force an irrevocable guarantee from the Parent Company in respect of all commitments entered into by such wholly-owned subsidiary, including amounts shown as liabilities (within the meaning of Section 357 (1)(b) of the Companies Act 2014) in such wholly-owned subsidiary's statutory financial statements for the year ended December 31, 2024.

Details in relation to other guarantees provided by the Parent Company are provided in the interest-bearing loans and borrowings note (Note 23) on page 95 of the notes to the Consolidated Financial Statements.

12. Directors' Emoluments

Directors' emoluments are presented in the related party transactions note (Note 31) on pages 111 to 112 of the Consolidated Financial Statements and Directors interests are presented in the Corporate Governance Statement on page 18 of this Annual Report.

13. Board Approval

The Board of Directors approved and authorized for issue the Parent Company Financial Statements on pages 113 to 117 in respect of the year ended December 31, 2024, on February 26, 2025.

Non-Financial Report

The European Union (Disclosure of Non-Financial and Diversity Information by certain large undertakings and groups) Regulations 2017 (as amended) requires CRH to disclose certain non-financial information.

This Non-Financial Report forms part of the Directors' Report. It includes information on environment, social and employee matters; and responsible business practices, including respect for human rights and combating bribery and corruption. It also includes information on policies (including due diligence in implementing these policies and the outcomes of these policies), risk identification and management, and non-financial key performance indicators (KPIs).

CRH separately publishes detailed information about its sustainability framework, strategies, methodologies and KPIs annually in its Sustainability Performance Report in accordance with the Sustainability Accounting Standards Board (SASB) reporting standards.

Business Model

The business model of CRH is described in the 'Principal Activities' section of the Directors' Report.

Innovation and Sustainability

We are accelerating investment in innovation to develop a higher-performing and more sustainable built environment. Through our \$250 million Venturing and Innovation Fund we are supporting the development of new technologies and innovative solutions to meet the increasingly complex needs of customers and evolving trends in construction. Our CRH Ventures platform partners with and invests strategically in construction and climate technology start-ups across the entire construction value chain, to pilot and scale cutting-edge and innovative technologies. Our ability to replicate and scale our innovation and technical expertise between geographies provides us with opportunities for further growth. Through our iCSC, we have a global network of experts across our businesses collaborating in the research, development and replication of innovative solutions.

Sustainability is deeply embedded in all aspects of our business and a key pillar of CRH's purpose is sustainability leadership. CRH's building materials solutions play an important role in shaping a more sustainable built environment and in 2024, revenue from products with enhanced sustainability attributes⁵⁴ was \$14.6 billion, an increase of 5% compared with 2023 and an increase of 16% compared with 2022.

Our sustainability framework identifies three global challenges for society and the built environment - water, circularity and decarbonization. Our strategy focuses on transforming essential materials into value-added and innovative solutions to address these global challenges. By uniquely integrating our materials, products and services, we are positioned to capture further value and accelerate growth across CRH.

• Water: We are advancing solutions to solve global water challenges and enhance flood resilience and water management including upgrading water infrastructure, wastewater treatment and groundwater recharging and conserving water across the value chain;
• Circularity: We are reimagining the way materials are used to enable the circular economy, including preserving our natural resources, recycling and reusing construction and other waste, facilitating resource-efficient buildings and infrastructure, and building more circular supply chains; and
• Decarbonization: We are developing innovative solutions to support a low-carbon future. Our goals include reducing our absolute carbon emissions, minimizing operational carbon from our products and creating energy-efficient solutions to facilitate a clean energy transition

In 2024, we continued to enhance our capabilities to meet these opportunities and challenges through investment in innovative technologies. Two recent examples include our investment in FIDO AI, supporting the development of artificial intelligence leak detection software to accelerate our water infrastructure solutions in North America, as well as CRH's strategic investment partnership with Sublime Systems, a U.S. based company in the field of sustainable cement production. Through these efforts, we continue to develop and deliver innovative, climate-resilient solutions for our customers.

By continuing to meet the changing needs of our customers and society, we aim to drive further growth and value creation. In addition, we are striving to create a positive impact on the natural world, helping our people and communities to thrive. We stand out as a responsible business by collaborating to ensure a more sustainable supply chain and embedding responsible conduct at each level throughout our organization.

Environment

We believe the transition to a more sustainable built environment represents a significant commercial opportunity for CRH. We are well-positioned to support increased demand for more sustainable products, which is underpinned by robust funding programs and regulatory policies in the geographies in which we operate. In addition, extreme weather events are increasing the need for more climate-resilient infrastructure.

At CRH, we invest in developing innovative water solutions for our customers and are committed to optimizing water consumption in our processes and products throughout our operating locations. We are also continuing to advance our contribution to the circular economy, preserving scarce natural resources and using more recycled materials in construction. In 2024, we recycled 44.7 million tonnes of by-products and wastes, sourced internally and from other industries, for use as alternative materials and fuels in our products and processes (2023: 43.9 million tonnes).

As part of our ambition to be a net-zero business by 2050, CRH has an absolute CO² emissions reduction target of 30% by 2030 (from a 2021 base year) inclusive of organic business growth. The Science Based Targets initiative (SBTi) has validated our targets⁶⁵ to be in line with a 1.5°C trajectory. A significant portion of the actions required to deliver on our 2030 decarbonization roadmap are based on known technologies, well-established operational excellence programs and activities in which CRH has a proven track record of delivery. CRH's roadmap includes an incremental capital expenditure of approximately \$150 million per annum on average, to implement and execute, which is subject to strict internal investment criteria and the net business benefit is expected to increase revenue and profitability. CRH will continue to invest in solutions that strengthen circularity and climate resilience in the built environment.

In 2024, our Scope 1 and 2 absolute carbon emissions decreased by 4%, from 31.0 million tonnes in 2023 to 29.7 million tonnes in 2024, as we made further progress implementing the key levers in our decarbonization roadmap which offset the impact of an increase in emissions arising from changes in our

⁵Revenue from products with enhanced sustainability attributes is defined as revenue derived from those products that incorporate any, or a combination of; recycled materials; are produced using alternative energy and fuel sources; have a lower carbon footprint as compared to those products using traditional manufacturing processes; and are designed to specifically benefit the environment.⁴

⁶CRH commits to reduce gross Scope 1 and Scope 2 GHG emissions by 33.5% per tonne of cementitious product by 2030 from a 2021 base year. CRH also commits to reduce absolute gross Scope 1 and Scope 2 GHG emissions from other activities by 42% by 2030 from a 2021 base year. CRH further commits to reduce gross Scope 3 GHG emissions by 23.5% from purchased clinker and cement per tonne purchased over the same timeframe. The target boundary includes land-related missions and removals from bioenergy feedstocks. Note: where relevant, volume related sustainability KPI's are presented in metric tonnes.⁵

business portfolio. Our cement-specific net CO² emissions per tonne of cementitious product reduced to 537kg (2023: 562kg). Information on environmental risks facing the Company is described in our TCFD disclosures beginning on page 123.

Our Carbon Footprint

	in million tonnes	2024	2023	2022
Scope 1	Direct emissions from use of fuels, chemical decarbonization from cement production and transport of raw materials and finished products in our own vehicles	27.2	28.7	31.2
Scope 2	Indirect emissions from purchased electricity	2.5	2.3	2.4
Scope 3	Indirect emissions from other activities	17.4	13.1	12.9
	Upstream: Indirect emissions from sources including: • Purchased goods • Fuel and energy related activities • Contracted transport • Waste generated • Employee commuting	16.1	12.0	12.4
	Downstream: Indirect emissions from: • Customer transport • Processing of sold goods • End of life treatment of sold products	1.3	1.1	0.5

For the purposes of this report, all references to CO² relate to CO² equivalent (CO2e), which considers the seven GHGs listed in the Kyoto Protocol: carbon dioxide (CO² ); methane (CH⁴ ); nitrous oxide (N2O); hydrofluorocarbons (HFCs); perfluorocarbons (PFCs); sulfur hexafluoride (SF⁶ ); and nitrogen trifluoride (NF³ ). The only exception relates to our cement specific net CO² emissions per tonne of cementitious product metric, which is specifically CO² only in line with the Global Cement and Concrete Association (GCCA) guidelines referenced below.

For reporting Scope 1 CO² cement emissions, we use the GCCA 'Sustainability Guidelines for the monitoring and reporting of CO2 from cement manufacturing' and the accompanying Excel spreadsheet, 'Cement CO² and Energy Protocol, Version 3.1, CO² Emissions and Energy Inventory'. For reporting Scope 1 CO² lime emissions, we align to the principles of the Directive 2003/87/EC of the European Parliament and of the Council and amending Commission Regulation (EU) No 601/2012 and 2006 Intergovernmental Panel on Climate Change (IPCC) Guidelines for National Greenhouse Gas Inventories. We calculate Scope 1 CO2e emissions from other activities in line with the World Resources Institute Greenhouse Gas Protocol (Revised Edition) using the United Kingdom Government 'GHG conversion factors for company reporting 2024'. These methodologies consider CO2e emissions from biomass fuels as climate neutral.

We calculate Scope 2 CO2e emissions from electricity in line with the method of the World Resources Institute Greenhouse Gas Protocol Scope 2 Guidance (2015), using the following: 'International Energy Agency (2024) Emissions Factors' (published in 2024), Association of Issuing Bodies (AIB) European Residual Mixes report, Results of the calculation of Residual Mixes for the calendar year 2023, Version 1.0, eGRID2022 'Summary Table' for emissions factors (published in 2024), 2024 Green-e® Residual Mix Emissions Rates (2022 Data) and Carbon Footprint Ltd's 'Country Specific Electricity Grid Greenhouse Gas Emission Factors (2024)' published in 2024.

Following a materiality analysis on sources of Scope 3 CO2e emissions, CRH has affirmed that the eight categories listed in the table above are the most relevant for our business. We calculate Scope 3 CO2e emissions estimations in line with the GHG Protocol's Scope 3 Standard and the GHG Protocol's Scope 3 Standard for cement companies, using two databases for emission factors: the United Kingdom Government 'GHG conversion factors for company reporting 2024' and EcoInvent 3.8. Reported Scope 3 CO2e emissions include the most relevant emissions categories for CRH. We evaluate and update the methodology each year as appropriate. For example, in 2023, we expanded the categories reported to include processing of sold goods and end of life treatment of sold products.

CRH defines its organizational boundary on a financial control approach (entity driver based) and our Scope 1 and 2 CO2e emissions are reported on this basis. CO2e emissions are reported on an annualized basis for cement acquisitions in line with GCCA Sustainability Framework Guidelines for reporting. No CO2e emissions are reported for divestitures in the year of divestiture.

The emissions disclosed above are as reported in the relevant financial year and no adjustment has been made to prior year figures for changes in our portfolio and/or reporting methodology. CRH is not relying on carbon offsetting to achieve its 2030 emission reduction target and is committed to decarbonizing our operations and value chain. We are involved in a number of initiatives with a goal of removing carbon emissions from the atmosphere. In the longer-term, carbon offsets may become more relevant for residual emissions.

Biodiversity

As a large scale landholder, we respect our responsibility to continue to preserve and protect biodiversity. By restoring and managing lands and wetlands at extractive sites and other locations, we strive to rehabilitate and enhance natural habitats, thereby contributing to halting and reversing nature loss.

We actively manage biodiversity at over 425 locations, and we ensure that restoration plans are in place at all relevant extractive locations. We continue to collaborate with internal specialists, expert organizations and communities to drive best practices and support the acceleration towards a nature-positive economy.

Social & Employees

Human Capital Resources

People are our priority, and we believe that building a safe and inclusive work environment that empowers and inspires our global workforce is core to our success. In 2024, we employed approximately 79,800 people at 3,816 locations in 28 countries, of which approximately 47,400 were in the Americas Division and 32,400 in the International Division. Some of our businesses are seasonal in nature which results in peaks and troughs in employment numbers across certain sections of our workforce. These changes are managed through fair and flexible hiring practices. We take a collaborative approach to developing stakeholder relationships, strengthening existing partnerships and developing new relationships. Our approach to people and communities is underpinned by our Health and Safety and Social Policies (see page 122).

Safety and Well-Being

The safety and well-being (including physical and mental health) of our employees, contractors and other stakeholders is embedded in CRH's values. Our ambition is to have a culture of safety and wellness working towards zero harm, with a target of zero fatalities in any year. Regrettably, despite our efforts, CRH recorded five fatalities during the year. Our thoughts are with their families and we will continue to do everything in our power to reach our target of zero harm and zero fatalities.

The SESR Committee receives regular reports in relation to safety indicators and potential risks. Our global network of safety officers work closely with our businesses in implementing safety policy and practice. CRH invests substantial time, effort and financial resources to comply with applicable regulations and ensure a safe workplace. In 2024, 94% of our locations had zero accidents and we achieved a lost time incident rate of 0.22 based on the number of incidents per 200,000 work hours for employees and contractors globally. We continue to monitor near misses, prioritizing those high potential learning events to achieve our goal of zero harm. We are investing in safety and have been recognized for our strong safety performance. Each year, CRH and our operating companies are recognized at local and national level for driving safety through initiatives, products, and policies. This includes initiatives and programs across training, technologies and our equipment and vehicles to increase the standard of safety across our operations and reduce risks. CRH further supports our employees through our health and well-being programs providing tools, social support and strategies for physical and mental health.

Our mining operations, manufacturing facilities and other operations are subject to a variety of worker health and safety requirements, including laws and regulations administered by the U.S. Occupational Safety and Health Administration (OSHA) and Mine Safety and Health Administration (MSHA) and their state-level and foreign equivalents. Failure to comply with these applicable workplace health and safety requirements can result in sanctions and claims for personal injury and property damage and/or the closure of sites.

Employee Engagement

Employee engagement is critical in shaping CRH's culture and overall strategy through training and career development opportunities and initiatives to support inclusion. The Board has delegated responsibility for the management of employee engagement to the Nomination & Corporate Governance Committee. Through employee engagement, we gain a better understanding of what matters most to our employees, identifying any challenges or risks to accelerate our progress. We continue to adapt ways of working and leadership development approaches based on employee feedback.

Working with the Global Leadership Team, CRH develops action plans based on the results of these engagements. The proximity of our senior leaders to daily operations across CRH is a key reason for the Company's continued success and enables dynamic engagement across our operations. We respect the rights of our employees to form and join trade unions and take part in collective bargaining. We operate both unionized and non-unionized workplaces.

Learning and Development

We are focused on creating a global workforce that will drive performance now and for years to come. Learning and development is integral to embedding our culture and values, ensuring compliance and attracting, retaining and developing top talent. We have a pipeline of talent in place to develop the next generation of CRH leaders. We invest in talent development throughout our businesses, empowering our employees across all levels of education and employment to grow their careers through personal and professional development opportunities. We continue to roll out our Frontline Leadership Program, which provides leadership development training for frontline supervisors across CRH, advancing the skills of our employees across a range of programs such as management, inclusive leadership and safety. We have also established multiple training and compliance programs to support appropriate conduct, including mandatory annual trainings regarding anti-bribery, anti-fraud and anti-theft topics.

Inclusion and Engagement

At CRH, we want to create and sustain a culture where fairness, inclusion and belonging are achievable for everyone. The Board and management team are committed to building a respectful and inclusive culture where talented people of all backgrounds have opportunities and can perform at their best. CRH has an engagement strategy which is built on, among other things, a firm commitment to nurture respect and inclusion as a core capability.

CRH promoted our inclusion and engagement goals through a range of initiatives and developments in 2024, including the development of new toolkits, forums and supports for our Employee Resource Groups (ERGs). Our ERGs are voluntary, employee-led groups, open to all employees including allies. Their aim is to foster an inclusive workplace by strengthening communication, community and employee experience.

Community and Social Impact

We aim to develop and strengthen positive relationships with our stakeholders through continuing to have open and meaningful communications. Our stakeholders include investors, customers, employees, suppliers, Non-Governmental Organizations (NGOs), communities, assessment organizations, advocacy groups, media and other interested parties.

We contribute to local communities through employment, educational development and supporting local businesses, as well as through our donations and other support in areas such as environment and conservation, health and wellness, arts and culture, and provision of shelter.

Responsible Business

Culture and Ethics

Our culture as a company is to uphold the CRH values. We endeavor to do the right things in the right way, with respect for one another and for the law. The foundation of our approach is the CoBC and supporting policies, which set out our standards of legal, honest and ethical behavior. We take a zero-tolerance approach to illegal behavior, bribery, corruption and fraud. The CoBC outlines clear expectations for all employees related to business conduct and we require relevant employees to undertake CoBC training. Our Internal Audit and Legal and Compliance functions monitor compliance with the CoBC and supporting policies, and provide an integrated approach to assurance. We have a 'Speak Up' policy and encourage a culture where employees, independent contractors, customers, suppliers and other stakeholders can raise good faith reportable concerns through a number of secure channels, including a CRH Hotline. We have procedures in place to investigate business conduct incidents, including incidents of corruption and bribery, promptly, independently and objectively.

We respect internationally recognized human rights – as set out in the International Bill of Human Rights and the International Labour Organization's Fundamental Principles and Rights at Work – across our operations and extended supply chain. In addition, we are a signatory of the United Nations (UN) Global Compact and apply the UN Guiding Principles on Business and Human Rights. We develop our approach to human rights through the identification of salient human rights related to CRH operations, including the health and safety of those working on our sites, the health of neighboring communities and the labor rights of workers in our extended supply chain. Our annual Modern Slavery Statement (available on www.crh.com) provides details of our overarching commitments and governance processes to protect human rights. Risk assessment and management processes play a critical role in improving our human rights performance.

Responsible Sourcing

We expect all our suppliers to share our commitment to ethical business practices and meet the standards set out in our Supplier Code of Conduct (SCoC), including respect for human rights, health and safety and environmental stewardship. We engage with suppliers to develop a responsible and sustainable supply chain needed to deliver innovative, sustainable products and solutions.

Through our SCoC, we continue to operate our core supplier due diligence processes to increase visibility and insights into our suppliers. These actions are taken with the goal of ensuring that good business practices are upheld throughout our supply chain. Our annual Modern Slavery Statement (available on www.crh.com) discloses our risks and progress related to preventing modern slavery within our operations and supply chain. We continue to review our supply chain risks through our ERM framework.

Risk Management

In line with requirements of the Companies Act 2014, the material risks facing the Company are set out on pages 9 to 15. These risks are reviewed biannually and reflect the international scope of the Company's operations and its decentralized structure. If any of these risks should occur, the Company's business, financial, operational, and liquidity prospects could be materially adversely affected. Further information on specific climate risks facing the Company are described in our TCFD on pages 123 to 130.

Our ERM framework and the related processes are deeply embedded in our businesses and provide a structured and consistent global approach for the identification, assessment and management of our most material risks. Ultimately, the purpose of ERM is to help our people make better decisions by providing timely, relevant information that informs which risks the Company should take in the pursuit of market-leading, sustainable growth. Our ERM framework is aligned with the Committee of Sponsoring Organizations of the Treadway Commission principles, and provides a clear approach for our people to comprehensively identify and effectively manage the uncertainties facing our businesses. The Board is responsible for setting the risk appetite for the Company and ensuring that risks are appropriately managed within agreed limits and tolerances, and the Audit Committee is responsible for monitoring the effectiveness of the Company's risk management and internal control systems. The Board receives regular updates on the experiences and perspectives of the workforce, including cultural and performance insights from our annual employee organizational health survey. Members of the Board receive ERM training on joining the Company, with seven members having specific risk and internal control competencies⁷ . 6

To support the consistent application of our ERM framework, we engage with our key stakeholders, such as employees, customers, suppliers, shareholders and local communities, to identify and manage risk across our value chain. Methods of engagement include risk workshops, formal materiality assessments and assurance processes. Downside risks are assessed in line with the Company's risk appetite and opportunities are explored and captured. The use of our online risk management information system (RMIS) by almost all our businesses enables employees to capture and escalate risks in real-time, promoting transparency, accountability, and proactive decision-making in response to changes in the risk landscape. Our principal risks are split into short-, mediumand long-term exposures, defined as less than a year, one to three years, and three to five years, respectively. These risks are regularly reviewed and represent the key risks faced by the Company.

Recognizing the slower evolution of some risks over longer time frames, we have an embedded process to track and manage emerging risks. These risks are defined as significant threats where the impact cannot yet be fully understood, due to lack of data or longer time horizons, restricting management and mitigation of the risk. While emerging risks are generally new and unknown – for example, emerging climate and technology risks – they can also be known risks that have evolved to present new challenges for the Company.

A dynamic watchlist of emerging risks is maintained by the Company to enable early identification of potential threats that could impact the long-term performance of our business. The Risk Committee reviews the watchlist and deems certain threats to be accepted risks, which are integrated into our risk register, and are subject to oversight by the Audit Committee.

To maximize value, ERM is integrated into our formal strategic planning and budgeting processes, and also at key day-to-day decision points, driving our risk-aware culture and underpinning more informed decision-making. Performance is our commitment and encouraging all employees to proactively manage risk creates a more agile and resilient organization, which is reflected in the Company's strong financial performance this year. In support of this important operating principle, the Company maintains a network of risk champions across our businesses, and also receives input from external subject matter experts, so we can develop effective risk management strategies.

To establish and maintain our robust risk culture, the Company has an executive-level Chief Culture and People Officer. In addition, the Company's 'Speak Up' policy, which is available in multiple languages, also provides employees, customers, suppliers and other stakeholders with numerous secure channels, including the CRH Hotline, to raise any good-faith concerns.

⁷Board members during financial year ended December 31, 2024 with specific risk management and internal control experience include A. Manifold, J. Mintern, R. Fearon, S. Kelly, M.K. Rhinehart, S. Talbot and C. Verchere.⁶

To discourage inappropriate risk-taking, remuneration structures for both management and employees use annual and longer-term incentives aligned to specific performance and risk metrics that are reviewed as part of the individual's performance evaluation. Our executive leadership is also subject to additional remuneration policies relating to in-employment and post-employment shareholding requirements – such as the use of claw back and malus provisions – to ensure their long-term interests align with the Company's shareholders. In addition, a significant proportion of Executive Directors' potential remuneration is 'at risk' and subject to clearly defined and stretching performance and risk targets.

Policies

Daily responsibility for ensuring that the Company's Environmental, Health and Safety, and Social policies are effectively implemented lies with individual location managers, assisted by a network of CRH specialists across the areas of environment, health and safety and human resources. In addition, we provide training to our employees to raise awareness of our performance standards and our sustainability policies, and the importance of upholding them across our business.

We require our operating companies to establish appropriate environmental management systems (EMS), in line with local environmental permit requirements. We have stringent mitigation plans in place and operating companies apply the principles of the 'Mitigation Hierarchy' to avoid, minimize, restore, and offset any negative effects on the environment.

We practice and promote responsible management and use of resources such as water, energy and land. Additionally, we monitor and control our emissions to air, water and land in order to further protect the health of our environment and of society.

Environmental Statement of Policy

The CRH Environmental policy, applied across operating companies, is to:

• Address proactively the challenges of climate change, reduce emissions and waste as well as optimize our use of energy, water, land and other resources;
• Promote sustainable product and process innovation and new business opportunities;
• Support and enhance biodiversity, ensuring responsible land use and biodiversity management;
• Comply with or exceed all applicable environmental legislation and continually implement and improve our EMSs, always striving to meet or exceed industry best practice standards, monitoring and reporting performance;
• Maintain open communications and ensure that our employees and contractors are aware of and adhere to their environmental responsibilities; and
• Maintain positive relationships with stakeholders through engagement and consultation, always striving to be good neighbors in every community in which we operate.

Health and Safety Statement of Policy

All working in CRH must:

• Comply, at a minimum, with all applicable health and safety legislation by developing a culture of health and safety excellence, continuously striving to meet or exceed industry best practice standards;
• Ensure that our companies provide a healthy and safe workplace for all employees and contractors and take due care of stakeholders such as customers, visitors and communities at all our locations, monitoring and reporting performance to ensure policy compliance;
• Maintain open communications and require all employees and contractors to work in a safe manner as mandated;
• Ensure that appropriate resources, training and supervision are provided; and
• Ensure that everyone working at CRH has the authority and responsibility to stop unsafe work on a no reprisals basis.

Social Statement of Policy

All working in CRH must:

• Comply at a minimum, with all applicable legislation and continuously improve our social stewardship, aiming at all times to meet or exceed industry best practice standards;
• Support freedom of association and recognize the right to collective bargaining;
• Apply the principle of equal opportunity, valuing diversity regardless of age, gender, disability, creed, ethnic origin or sexual orientation, while insisting that merit is the ultimate basis for recruitment and selection decisions;
• Manage our businesses in a fair and equitable manner, meeting all our social responsibilities including working conditions, as both a direct and indirect employer;
• Ensure that we deal responsibly with our suppliers and customers in accordance with our CoBC, SCoC and proper business practice; and
• Prohibit forced, compulsory and child labor in all forms including modern slavery.

Task Force on Climate-related Financial Disclosures

Our climate-related disclosures and details of the risks, opportunities and actions that we are taking are consistent with all of the TCFD recommendations and recommended disclosures⁸ . ⁷We comply with the four pillars (Governance, Risk Management, Strategy, Metrics and Targets) and the 11 recommended disclosures. For Strategy B and C of the TCFD recommendations, we have described the impacts in both qualitative and quantitative terms and further work is planned in future years for financial quantification. The disclosures are primarily outlined in this part of the Annual Report and a cross-referencing map is outlined below.

Recommended Disclosures	Location of Information	Pages
Governance
Disclose the organization's governance around climate-related risks and opportunities
Board's oversight of climate-related risks and opportunities	Governance Framework; Committees of the Board; Risk Oversight; Sustainability Oversight; Accounting Policies	18, 23-28, 29, 30, 47
Management's role	Governance Framework; Committees of the Board; Risk Oversight; Sustainability Oversight; Accounting Policies; Climate Risks & Opportunities	18, 23-28, 29, 30, 47, 125-130
Strategy
	Disclose the actual and potential impacts of climate-related risks and opportunities on the organization's businesses, strategy, and financial planning
Risks and opportunities for the short-, medium-, and long-term	Risk Management; Climate Risks & Opportunities	124, 125-130
Impact on business, strategy and financial planning	Accounting Policies; Task Force on Climate-related Financial Disclosures	47, 123-130
Resilient strategy and scenario planning	Climate Scenario Analysis	129-130
Risk management
Disclose how the organization identifies, assesses, and manages climate-related risks
Climate-related risk identification and assessment	Risk Management; Climate Risks & Opportunities	124, 125-130
Climate-related risk management	Accounting Policies; Risk Management; Climate Risks & Opportunities	47, 124, 125-130
Integration of processes into overall risk management	Risks Related To Our Industry And Our Business; Climate Risks & Opportunities	11, 125-130
Metrics and targets
Disclose the metrics and targets used to assess and manage relevant climate-related risks and opportunities
Climate-related metrics	Non-Financial Report; Climate Risks & Opportunities	118-119, 125-130
Disclose Scope 1, 2 and 3 CO2 emissions and related risks	Non-Financial Report	118-119
Climate-related targets	Non-Financial Report; Climate Risks & Opportunities	118-119, 125-130

Governance

The Board is responsible for promoting the long-term success of the Company, generating value for shareholders and ensuring we make a positive contribution to society. Its role includes:

• Providing leadership;
• Establishing and monitoring the Company's purpose, values, and strategy;
• Setting the Company's risk appetite; and
• Ensuring there is a robust framework of effective controls to enable risks and opportunities, including those related to climate change, to be successfully assessed and managed.

Sustainability, including the impacts of climate change, is embedded in the Company's strategy, business model and Sustainability Framework. The Board recognizes the importance of decarbonization to address the challenges of climate change and believes the Company's integrated strategy of value-added products and innovative solutions have a key role to play in delivering a more resilient and sustainable built environment. The Chief Executive Officer is responsible for the operational and profit performance of the Company and is accountable to the Board for all authority delegated to executive management. The Chief Executive Officer executes strategy agreed with the Board and regularly reports to the Board on the progress and performance of the Company, including in relation to climate-related matters. The Chief Executive Officer is supported by the Global Leadership Team, which is responsible for implementing strategy, performance delivery and progressing the Company's sustainability and climate-related agenda. Responsibility for formulating, executing and communicating our climate strategy sits with the Chief Sustainability Officer (CSO), while the Global Leadership Team receives support from various executive-level committees and other working groups and functions on sustainability and climate-related issues.

⁸⁷As required by the FCA Listing Rule 14.3.24(R) which applies to issuers with an international secondary listing on the LSE.

Risk Management

CRH's ERM framework supports risk identification, assessment and reporting activities across the Company; the below information is an example of how our ERM framework is applied to manage our climate risk. The processes used to identify, assess, prioritize and monitor risks is similar to previous years.

Identification

CRH operates a bottom-up and top-down risk assessment process, where information from our operating companies informs our Company-wide risk assessments, and Company-level risk analysis informs local risk identification and assessment.

A robust risk catalog is used to inform our bottom-up risk identification processes and ensure our businesses consider the full breadth of climate-related risks and opportunities.

CRH has developed a specific climate risks and opportunities register following extensive analysis through workshops and stakeholder engagement over the last number of years which was subsequently incorporated into the Company's ERM process. During 2024, further workshops were carried out which confirmed the most material climate risks and opportunities remained the same. The materiality assessment of climate-related risks and opportunities took into account: the level of exposure to climate-related risks and opportunities and the scope and objectives of CRH's climate-related strategy. For further information, refer to Principal Risks and Uncertainties on page 11.

In 2024, the Company's physical climate change scenario analysis covered all locations under a number of different warming scenarios. For more information, see Climate Scenario Analysis on page 129.

Assessment

Common criteria and topic hierarchies are used to assess and consistently categorize risks and opportunities, which helps CRH to identify and manage aggregate exposures that may be more effectively managed centrally.

More broadly, climate-related risks and opportunities are managed using our ERM framework. While our traditional ERM process assesses risks over our strategic planning horizon, with longer-term risks being embedded into our emerging risk categories, the horizons over which we assessed the Company's climate risks and opportunities mean our time horizons take a longer-term view and were defined as:

• Short-term: The risks, opportunities and actions reasonably foreseeable up to 2025 (1-year window) for which business planning has the highest degree of visibility;
• Medium-term: The period between 2025 and 2030 which represents the period up to our publicly-disclosed, Company-wide target of reducing our absolute CO2e emissions by 30% by 2030 and represents a transitional period between current planning and the longer-term strategic goals for the Company; and
• Long-term: The 2031 to 2050 period where transitioning to net-zero is fully embedded in the business structure and performance with climate-driven solutions at the forefront of value creation.

Given the nature of climate change, it is viewed as both a current principal risk and an emerging risk for CRH. The timelines identified for climate risk and opportunities on pages 125 to 130 represent when the most material impacts are most likely to occur.

Management

The size and significance of each risk is determined according to the product of its assessed impact on the organization and its likelihood of occurrence, with consideration of factors such as impact velocity, for example, informing the prioritization of risks for its subsequent management to within agreed acceptable levels.

In order to highlight the Company's commitment towards managing our climate risks, a portion of the Company's executive remuneration is directly linked to specific actions related to managing climate change and the achievement of certain climate-related targets, such as delivery of our carbon emissions reduction target.

Monitoring and Reporting

All risks identified in CRH are recorded in the Company's RMIS which facilitates the effective allocation of responsibility, tracking of risk performance and monitoring of mitigation activities. Our RMIS is integrated across the Company and enables the efficient reporting of risks through our bottom-up process, from operations up to the Board. Risks are reported to the Risk Committee from all divisions and functions on a rotational basis ensuring that all risks are presented, discussed, and challenged in an appropriate forum.

The Risk Committee sets the Company's risk strategy and oversees the Company's risk governance model and how the Company identifies, assesses and manages the principal and emerging risks the Company encounters in pursuit of its strategic objectives. Additionally, climate-related risks and opportunities are reported to our CSO who is responsible for developing climate strategies for consideration by the Global Leadership Team and Board and for ensuring that they are fully embedded in the Company's corporate priorities. For further information on risk governance structures, see pages 18 and 29.

The outputs of our climate-related workshops are included as part of our Climate Scenario Analysis disclosure on page 129 and inform our strategy and risk planning going forward.

All information stated above for climate-related risks is accurate for the processes used to identify, assess, prioritize and monitor climate-related opportunities.

Strategy

CRH's strategy and financial planning process is designed to identify, evaluate, and manage significant risks and threats that could inhibit the Company from operating in a stable and sustainable manner. The Sustainability, Risk and Finance teams work closely to ensure that climate-related considerations are integrated into the financial planning (including acquisitions and divestitures) process to ensure that adequate capital expenditure, investments and operational capital is directed to achieving the organization's financial and environmental objectives. Where opportunities arise in our businesses and markets, we are uniquely positioned to maximize the environmental and business benefit. We are creating value-added solutions to address the impacts of climate change to ensure that we can continue to drive growth and value for our business and support our customers and society in the transition to net-zero. For more information on how climate considerations are incorporated into the Company's strategy, see pages 125 to 130.

Climate Risks and Opportunities

Using the TCFD's framework, CRH conducted an assessment which identified a number of transitional and physical risks and opportunities that may adversely or positively impact the operational and financial performance of the Company, without considering any mitigation or adaptation actions CRH may take. This analysis was informed by third-party warming scenarios key assumptions and supported, where appropriate, with high-level quantitative assessments.

The table below details priority climate-related risks and opportunities identified and the high-level assessment from an impact and probability basis.

Potential impact and probability of climate-related risks and opportunities

* Impact for the risk refers to CRH's exposure to the specific risk. Each of our identified risks has been evaluated considering a number of variables, such as operational, financial, reputational and compliance factors. Impact for the opportunity is the value CRH can gain on the opportunity.

Discussion of priority climate risks

Carbon Pricing

Category	Time Horizon	Description	How we Manage the Risk
Policy and Legal	Medium-term	Regulations across CRH's markets could lead to increased direct and indirect carbon emission costs. CRH participates in Emission Trading Schemes (ETS) in the European Union and other regions. The EU ETS is CRH's largest emissions trading market. The gradual phase out of free carbon allowances between 2026 and 2034 poses a risk of carbon leakage to domestic producers from jurisdictions with lower regulatory standards or lower/no carbon price(s). In response, the European Union has introduced into law a CBAM to create a level playing field on carbon costs between domestic producers and importers. CO2 emissions in CRH's supply chain are also a significant transition risk for the Company. Unless abated through lower carbon consumption, these regulatory changes will over time lead to increased costs of production.	CRH's decarbonization roadmap will support CRH to be a resilient business as well as enabling the transition to a low carbon economy. CRH has set an absolute carbon emissions reduction target by 2030 which includes investing approximately an average of \$150 million per annum of incremental capital expenditure to enable delivery of this objective. The Company has a decarbonization roadmap which is business-led and executed through locally managed plans. There is central oversight and co-ordination that builds on significant experience in carbon reduction across different geographies, functions and business types, where for many years our dedicated team of experts have been active.
Metric	Target
2024: 47.1m tonnes 2023: 44.1m tonnes 2022: 46.5m	30% reduction in absolute carbon emissions by 2030 (from a 2021 base year)
tonnes Absolute Scope 1, 2 and 3 CO2 e Emissions			A key lever in the medium- and long-term will be scaling technologies such as CCUS. To accelerate progress, CRH is building partnerships with CCUS technology stakeholders and other key players.
48.0m tonnes baseline in 2021 (Scope 1, 2 and 3 CO2e			Certain government legislation designed to accelerate decarbonization (such as carbon pricing, CBAM and other tax-related measures) present opportunities as public policy changes begin to increase demand for low-carbon, sustainable products. We are well-positioned to support this increased demand, which is underpinned by significant government funding programs and regulatory policies.
Emissions)			The purchase of ETS carbon allowances is managed by a central unit which buys forward to secure supply and de-risk the cost base ahead of time. This helps provide the Company with near-term certainty on carbon prices and associated costs. CRH has extensive experience in absorbing increases in carbon costs through pricing and enhancing its margins.

Unfavorable Policy Environment

Category	Time Horizon	Description	How we Manage the Risk
Policy and Legal	Short-term	Regulation and industry standards provide a predictable operating environment, but there are also risks with unfavorable regulation, such as:	CRH primarily operates in geographies subject to well established regulatory processes. CRH's ambition is to be a net-zero business by 2050. Constructive collaboration between members of the industry and policymakers to create a regulatory environment that supports
Metric	Target	• Reduced competitiveness due to 'carbon leakage' (see CBAM on previous page);
CRH and Trade Group Advocacy aligns with Paris Agreement Goals	Publication of CRH's Climate Advocacy Review	• Policies that set inappropriate benchmarks or introduce will be required to realize this ambition. unwarranted biases that may lead to sub-optimal building materials choices and designs; • Misunderstanding and poor accounting of the full lifecycle of products; and implementation of new regulations. • Lack of financial incentives for Research & Development (R&D) and low-carbon investments.	the transition by promoting innovation and healthy competition CRH engages in responsible and transparent corporate advocacy to support the development of an effective regulatory regime. We also monitor the development and manage the We also aim to ensure our direct advocacy and trade groups' activities align with the Paris Agreement. For more information, please see our Climate Advocacy Review at www.crh.com.

Reliance on Technological Advancements

Category	Time Horizon	Description	How we Manage the Risk
Technology	Medium-term	A significant portion of the actions required to deliver on our 2030 roadmap are based on known technologies, well-established operational excellence programs and activities in which CRH has a proven track record of delivery. However, new technology and innovative solutions will play a pivotal role in CRH's ambition to be net-zero by 2050. The most significant carbon reductions needed to reach net-zero are in our cement activities which may be realized through innovative technologies such as CCUS, which are evaluated based on costs, technical feasibility, compatibility with CO2 usage opportunities and scalability. However, not every solution will be scalable and may have associated high energy demands (such as carbon capture), as well as challenges around availability of CO2 transportation and storage infrastructure. Not successfully managing these challenges could reduce the company's competitiveness.	CRH's Group Technical Services (GTS) team share technical knowledge and expertise and support projects (including developing and piloting our approach to CCUS). The GTS team collaborates with our iCSC, which works to develop ground-breaking decarbonization technologies. Priorities include reducing carbon emissions during cement manufacturing; utilizing minerals to absorb CO2 and enhance climate resilience and developing CCUS solutions. The Company has also established Exploration Councils to accelerate the delivery of R&D projects. CRH's \$250 million Venturing and Innovation Fund is continuing to commercialize new technologies, products, processes and customer solutions which will support our sustainability strategy.
Metric	Target
2024: c.60 2023: c.70 Innovation Fund and iCSC initiatives ongoing	Ongoing development of innovation projects

Adverse Weather

Category	Time Horizon	Description	How we Manage the Risk
Physical	Medium- to Long-term	The risk of adverse weather can impact CRH's production processes. For example, sustained high temperatures may affect the health and safety of our staff, as it may not be safe for operational workers to be outdoors. There may also be implications for product lines such as readymixed concrete and asphalt, as these are dependent on favorable weather conditions and any adverse changes in temperatures could affect production efficiencies. CRH facilities could also be damaged or closed, which would lead to increased operating costs to maintain the integrity of our production sites. An analysis of CRH's locations shows that chronic drought and heat stress may impact the business, (e.g. on the West Coast of the United States), However, the relative impact on the business remains low and is mitigated by CRH's diverse geographical spread of locations. Operations and supply chains may also be affected by floods and rising water levels that could lead to damaged or closed facilities. Adverse weather may impact working conditions for employees. It is paramount that we ensure the health, safety and well-being of our employees.	To effectively mitigate disruption or loss associated with physical risks, the geo-locations of CRH sites are mapped against geographic natural catastrophe and weather/climate vulnerabilities to identify those at higher risk. Business Impact Assessments (BIA) and Crisis Management Plans (CMP) are conducted at our sites to ensure the safety of our people and business continuity (such as ensuring plant, property and equipment are protected as much as feasibly possible) following any adverse weather events. CRH already operates in regions vulnerable to weather impacts and effectively manages its operations throughout. This is done through investing in facilities to ensure that they are adapting for future changes in climate.
Metric	Target
2024: 96% 2023: 89% 2022: 81% of relevant companies with water management plans 75% baseline in 2020 (first year target set)	100% by 2030

Corporate Reputation

Category	Time Horizon	Description	How we Manage the Risk
Reputational	Short-term	Increasing stakeholder expectations regarding climate ambition and environmental performance need to be constantly monitored. Failing to reduce operational emissions or meet investor expectations with regard to emissions reductions may adversely impact the Company's reputation and likelihood of potential litigation from activist groups. This could negatively affect CRH in several ways, such as: • Reduced access to capital; • Challenges retaining/attracting talent; • Local community opposition to production sites; and • Inability to secure licensing permits. To avoid any negative perception, it is important that the Company continues to illustrate its sustainability performance in a proactive and transparent way.	CRH actively engages with investors, ESG analysts and rating agencies to deliver accurate and timely communication to stakeholders. The Company has tied executive remuneration to progress on key sustainability goals, including our decarbonization roadmap. Climate-related accounting guidelines continue to evolve, and CRH is committed to meeting relevant regulatory requirements.
Metric	Target
Third-party ESG Rating scores Baseline: See 'Sustainability Recognitions and Benchmarks' in the CRH Sustainability Performance Report	Sector leading in ESG Rating scores

Discussion on priority climate opportunities

Climate Driven Solutions

Category	Time Horizon	Description	How we Realize the Opportunity
Markets	Medium-term	Creating a more sustainable built environment is an imperative for net-zero living, especially as the global population continues to grow and urban areas expand. This trend results in:	CRH already has in its portfolio a range of climate solutions as demonstrated by our progress on revenue derived from products with enhanced sustainability attributes.
Metric	Target
2024: 49% 2023: 48% 2022: 47% revenue derived from products with enhanced sustainability attributes 42% baseline in 2018 (first year reported externally)9	50% by 2025	• Increasing customer demand for low-carbon, sustainable, climate-resilient products and solutions; • Major investment is needed in addressing water scarcity, temperature extremes and flood management in the built environment; and • Infrastructure needs for clean energy, energy-efficient buildings, smart public transport networks and green infrastructure that are central to building more sustainable urban centers.	CRH will continue to invest in solutions that strengthen circularity and climate resilience in the built environment and our iCSC works to accelerate sustainable innovation opportunities. Currently, there are c.60 research projects ongoing across CRH through the \$250 million Venturing and Innovation fund and iCSC.

Low-carbon Fuels

Category	Time Horizon	Description	How we Realize the Opportunity
Energy Source	Medium-term	As a large energy consumer there is an opportunity for CRH to further reduce its reliance on fossil fuels by transitioning to alternative low-carbon fuel sources. With ongoing technological advancements and CRH's focus on reducing its environmental impact, the scope for incremental fuel substitution continues to expand, which in turn creates new opportunities to reduce emissions from our production and transportation processes. Substituting traditional fuels with low-carbon alternatives is also proving a commercial advantage for the Group as it: helps to manage costs, diversifies supply, and mitigates the potential impact of changing energy prices on operations.	CRH is using low-carbon energy sources. For example, we are advancing our use of alternative fuels in the cement sector and continue to work with suppliers on fuel substitution to low-carbon sources. CRH is also collaborating with partners in its own and other industries, such as Shell and Volvo, on decarbonization opportunities across the value chain that will benefit transport, operations and sourcing materials and energy.
Metric	Target
2024: 36% 2023: 36% 2022: 36% alternative fuel rate (kiln fuels) in cement 33% baseline in 2021 (based upon decarbonization roadmap)	Increase usage aligned to decarbonization roadmap

⁹% Revenue derived from products with enhanced sustainability attributes is a non-GAAP measure as defined on page 142.

________________________________________________________

Circular Economy

Category	Time Horizon	Description	How we Realize the Opportunity
Products & Services	Medium-term	Successfully leveraging innovative sustainable solutions (such as lower-carbon cements, recycled asphalt materials and permeable paving solutions), may prolong product life cycles or increase market share which could positively impact financial performance and/or future value creation. By embedding a consistent circular approach across our value chain, the Company will be able to reduce reliance on higher emission fuels, use fewer natural resources, reduce the carbon intensity of our products, aid the environment, and manage operating costs more efficiently.	In 2024, CRH recycled 44.7 million tonnes of waste and by products from other industries and CRH is the leading recycler in North America.
Metric	Target		CRH has successfully redirected alternative raw materials into its production processes across its product range (e.g. cement, readymixed concrete and asphalt). For example, by using recycled asphalt materials, fewer virgin aggregates are required and a lower level of bitumen is used in the production of asphalt which contributes to a more sustainable built environment.
2024: 44.7mt 2023: 43.9mt 2022: 42.4mt of wastes and by-products	Increase recycling aligned to decarbonization roadmap
recycled			CRH works closely with its customers to increase their use of our recycled materials and products. We also work with regulators to help establish improved industry standards and
39.5mt baseline in 2021			regulatory frameworks for a more circular built environment.

Clean Electricity
Category	Time Horizon	Description	How we Realize the Opportunity
Energy Source	Short-term	We are transforming our business and finding new opportunities in electricity generated by solar and wind power, and charging for electric vehicles. As more processes	CRH is exploring and implementing a range of clean electricity solutions including: • using Power Purchase Agreements (PPAs) to increase our certified renewable supply; • progressing physical renewable energy capacity at some of our locations; • exploring innovative solutions such as battery storage; and • decarbonizing transport which includes some mobile equipment being replaced by electric vehicles.
Metric	Target	transition to electrification, more purchased electricity comes from renewable sources (including grid mix). CRH, as a large landowner, can utilize its scale to capitalize on this in its real
2024: 2.5m 2023: 2.3m 2022: 2.4m tonnes Scope 2 Indirect emissions from purchased electricity 2.6m tonnes baseline in 202110 (Scope 2 CO2e emissions)	Increase clean electricity solutions aligned to decarbonization roadmap	estate and production facilities. There are financial benefits for CRH, as self-sufficiency in energy production can insulate us from cost fluctuations in wholesale energy markets. It is also an opportunity to further reduce our carbon emissions.

Metrics and Targets

CRH uses a variety of metrics and targets to measure and manage our climate-related risks and opportunities. Internally, these inform the Company's risk governance, sustainability, strategy, and management processes. Externally, they allow investors and other stakeholders to assess the Company's performance over time and provide a sound basis for comparison with industry peers.

To monitor performance and the implementation of our sustainability strategy, KPIs and related targets are defined for each climate-related risk and opportunity in the Strategy section. To facilitate comparative and trend analysis, our climate-related metrics are disclosed consistently from year to year and our targets have a defined time horizon. The Company's Sustainability function is responsible for monitoring the Company's climate-related metrics and progress being made towards targets through our Annual Sustainability Review process.

Our climate-related targets are set by the Global Leadership Team and approved by our SESR Committee, which evaluates these targets annually. Sustainability and climate are active considerations in the Company's executive remuneration plans. ⁸

Notes on how to interpret the 'Climate Risk and Opportunities' section

All climate-related risks and opportunities discussed on pages 125-130 have been categorized in line with the TCFD's terminology, with all impacts having been considered from both a (i) transitional; and (ii) physical, perspective.

CRH has outlined metrics and targets consistent with the requirements of the TCFD and its supplemental guidance for the Construction Materials sector on these pages.

Additional metrics and targets which illustrate CRH's climate performance, progress and ambition, are available within the Sustainability Performance Report. The metrics and targets disclosed above are as reported in the relevant financial year and no adjustment has been made to prior year or baseline figures for changes in our portfolio and/or methodology. We will continue to evaluate our approach as appropriate.

¹⁰8Note the 2021 Scope 2 CO2e emissions are location-based (market-based equivalent is 2.9 million tonnes).

Information in relation to the potential climate impact on the Company's businesses, strategy, and financial planning, including its: Supply and Value Chain; Products and Services; Operations; Acquisitions and Divestitures; and, Access to Capital is given throughout the 'Climate Risk and Opportunities' section.

Information on subsequent adaption and mitigation activities, as well as how the Company's strategy may be affected, is given in the 'How we Manage the Risk' and 'How we Realize the Opportunity' sections.

Information on the potential impact of climate-related issues on financial performance and position is given qualitatively throughout the 'Climate Risks and Opportunities' section, in both the 'How we Manage the Risk' and 'How we Realize the Opportunity' sections.

TCFD Supplementary Guidance for the Construction Sector

	Relevant Guidance	CRH Response
Strategy	Discussion of how climate issues are integrated into current decision making and strategy formulation in the following areas: (a) R&D and adoption of new technology. (b) Existing and committed future activities such as investments, restructuring, write-downs, or impairment of assets. (c) Critical planning assumptions around legacy assets. (d) How GHG emissions, energy, and water and other physical risk exposures, if applicable, are considered in capital planning and allocation. (e) The organization's flexibility in positioning/repositioning capital to address emerging climate-related risks and opportunities.	CRH has considered the supplemental guidance for the Strategy pillar, where additional information is available within our Annual Report at the following: (a) See 'Reliance on Technological Advancements' risk on page 126. (b) See 'Environment' on page 118. See pages 47, 74 and 76 of the Consolidated Financial Statements on how any existing and future activities have been considered. (c) See 'Climate Risks and Opportunities' on pages 125-130. (d) Climate investments in technology are discussed in our climate risks and opportunities on pages 125-130. (e) See Statement of Strategic Resilience on page 130.
Metrics and Targets	Organizations should consider providing metrics: (a) That support scenario analysis and strategic planning processes. (b) Related to GHG emissions, energy, water and other physical risk exposures, land use, and, if relevant, investments in climate adaptation and mitigation. (c) Historical trends and forward-looking projections (by relevant country and/or jurisdiction, business line, or asset type). (d) In line with Tables A1.1 and A2.1 and targets in line with Table A2.2 of the TCFD's 2021 Guidance on 'Metrics, Targets, and Transition Plans'.	CRH has considered the supplemental guidance for the Metrics and Targets pillar, where additional information is available within our Annual Report at the following: (a) See the results of the Company's Climate Scenario Analysis below. (b) (c) (d) See metrics and targets given in the 'Climate Risks and Opportunities' and the subsequent Note on pages 125-130.

Climate Scenario Analysis

In 2024, CRH conducted climate scenario analysis on the potential impacts of climate change to help us enhance our strategies and financial planning related to carbon and physical risks. The Company also tested its strategic resilience to climate change. We anticipate that in future Annual Reports we will further refine our approach to climate assessments and expand this analysis to other material risks and opportunities.

Scenario selection

For the modelling of transitional risks, the International Energy Agency World Energy Outlook (IEA WEO) and the Network for Greening the Financial System (NGFS) were chosen due to their close alignment with the TCFD's recommendations.

CRH used an external third-party tool for the screening of physical climate risk exposures for current and future (2030s, 2050s and beyond 2050) time horizons using a range of different climate scenarios in line with the recommendations of the IPCC. Underlying climate data was provided by Munich Re's climate change hazard layers which utilizes data from the European Centre for Medium-Range Weather Forecasts (ECMWF), UKCP18, JBA Global Flood Model and the United Kingdom Met Office.

Information on scenario selection and warming scenarios

Warming Pathway	Transition Scenarios		Physical Scenarios
	IEA WEO	NGFS	IPCC
< 1.5oC	Net Zero Emissions by 2050 (NZE)	Orderly; Disorderly	n/a
< 2.0oC	n/a	n/a	RCP 2.6
2-3oC	Announced Pledges Scenario (APS)	Orderly; Disorderly	RCP 4.5
> 4.0oC	Stated Policies Scenario (STEPS)	Current Policies ("Hot house world")	RCP 8.5

Approach to detailed scenario assessments

The scenario analysis of the risks and opportunities were completed for two material risks of Carbon Pricing and Adverse Weather. We used IEA-sector and scenario-level data to frame the analysis as well as other datasets including internally generated data.

The scenario analysis involved a third-party specialist, platform and external data sets for risk analysis. The following table outlines the process CRH undertook to complete climate scenario analysis on its business.

	Transition - Carbon Pricing	Physical - Adverse Weather
Risk background	The risk of increased carbon pricing was modelled across all three warming scenarios and identified as most significant under a 1.5°C scenario. This was due to the high probability of increased operational costs associated with purchasing allowances under some scenarios. Although the EU ETS remains CRH's largest emissions trading market, accounting for 32% of the Company's direct carbon emissions, CRH also participates in ETS arrangements in other regions, including: Australia, Canada, the United Kingdom and the United States (Washington). There may be further carbon pricing mechanisms and other forms of taxation introduced in other regions in which we operate.	The risk of adverse weather can impact CRH's production processes. For example, sustained high temperatures may affect the health and safety of our staff, as it may not be safe for operational workers to be outdoors. There may also be implications for product lines such as readymixed concrete and asphalt, as these are dependent on favorable weather conditions and any adverse changes in temperatures could affect production efficiencies. CRH facilities could also be damaged or closed, which would lead to increased operating costs to maintain the integrity of our production sites.
Process	Scope 1, 2 and 3 CO2 emissions were used during the analysis. The compliance markets currently only regulate direct emission (Scope 1), predominantly for cement. The Company wanted to understand the implications if all of CRH's Scope 1, 2 and 3 emissions would potentially be covered by carbon pricing mechanisms. As part of the Company's decarbonization strategy, emission reduction roadmaps are available for all activities and were included in the analysis. The projected carbon emissions were multiplied by a range of potential regional carbon prices using the IEA published carbon price assumptions under different scenarios to generate a spectrum of potential future financial implications.	CRH provided geocodes for its locations globally for input into a third-party platform for asset-level physical risks analysis. Each geocode was attributed revenue as per internal financial reporting systems to indicate a financial impact before considering mitigation processes which may be in place. Chronic weather events modelled included: heat stress, drought stress, increased precipitation, and sea level rise. Acute weather events modelled included: flooding, windstorms, tornados, and cyclones. The specific hazards and modelled exposures were multiplied by projected vulnerability to generate a spectrum of potential future financial implications.
Assumptions	• A \$0/tonne carbon price in 2020 was used as a starting point for the purposes of interpolation to future time periods where published IEA carbon prices were used. For Net Zero Emissions by 2050 scenario the following carbon prices were adopted: 2030 \$25/tonne - \$140/tonne, 2040 \$85/tonne - \$205/tonne, 2050 \$180/tonne - \$250/tonne. • Carbon prices follow a linear interpolation between the IEA published 10-year intervals. • Freely allocated emissions rights for cement activities - assumed to end by 2030 in the EU - were factored into the analysis. • Gross costs to the business were modelled before considering any mitigation measures. • Mitigating measures for the risks were then identified and included in the risk assessment and financial modelling where relevant.	• Business interruption risk has been considered. • The financial quantification of the risks focused on the revenue implications of business disruption. Property damage and equipment damage have not been included in this analysis. • Gross costs to the business were modelled before considering any mitigation measures. • Mitigation measures for the risks were then identified and included in the risk assessment and financial modelling where relevant.
Outcomes from Quantitative Analysis	The IEA model projects that under each scenario there is an expectation that carbon pricing will increase from current prevailing levels, whereby the costs associated with carbon are most impactful within the 2030 to 2040 transition timeframe. While the overall impact and probability are high, under the IEA's 'Stated Policy' warming scenario, the projected increase will be gradual. This mostly impacts our cement activities which account for 14% of external revenue. CRH has extensive experience in absorbing increases in carbon costs through pricing and enhancing its margins. The impacts of carbon pricing will also provide opportunities for accelerated development of technologies and increased demand for energy efficient and lower-carbon products and services.	The results of the assessment indicated that while the likelihood of weather interruptions is expected to increase in line with global trends, CRH already operates in regions vulnerable to weather impacts and effectively manages its operations throughout. Highlighted chronic weather events included drought and heat stress, however, the relative impact on the business remained low and is mitigated by CRH's diverse geographical spread of locations. Higher impact areas include Australia and the United States. Highlighted acute events included flash flooding and windstorms, however, the relative impact on the business remained low and is mitigated by CRH's diverse geographical spread of locations. Higher impact areas are in Asia, Australia and the United States.

In assessing capital investment projects and to facilitate strategic planning, CRH uses an internal carbon price, in regions where such a system is in place. The Company's near-term internal carbon price is primarily based upon already purchased carbon allocations whereas longer-term assumptions are based on IEA projections for the respective region. For example, for 2024 in Europe, a price of \$85 per tonne of CO² was used with increases each year thereafter.

Statement of Strategic Resilience

We stress-tested our business strategy against the risks that we believe are most likely to impact CRH by conducting scenario analysis to see the implications on our costs, revenue and profitability. We have qualitatively described the output from this process above and found that the probability of adverse weather events occurring is high, while the risk from carbon pricing increasing is high under some scenarios. However, we already have a plan and targets in place and we are on track to mitigate against these impacts and decarbonize our business, so the residual level of risk is at an acceptable level for our business strategy. We recognize the importance of understanding our risk and opportunity landscape in guiding CRH's climate strategy. Based on this assessment, the Company believes it has sufficient flexibility and resilience to successfully manage its climate risks and opportunities. As CRH continues to assess its strategy, new climate-related risks and opportunities may become apparent, which the Company may consider as part of its planning. CRH will further deepen its climate-related initiatives in the coming years to help the Company play a leading role in shaping a sustainable future.

EU Taxonomy

The EU Taxonomy regulation (Regulation (EU) 2020/852) is part of the European Union's overall efforts to implement the European Green Deal. It is intended to serve as a standardized and mandatory classification system to determine which economic activities are considered as 'environmentally sustainable' by the European Union. CRH is reporting under the environmental objective of climate change mitigation primarily in relation to the activity 3.7 Manufacture of cement. While the level of alignment reported is low for each of the KPIs for the year ended December 31, 2024, we expect alignment to increase as we deliver on our multi-year decarbonization roadmap, which is aligned to a 1.5°C temperature trajectory.

Voluntary Compliance Statement

Following the transition to a U.S. primary listing in 2023, CRH is not currently in the scope of, and is not required to report in accordance with, the EU Taxonomy regulation for the year ended December 31, 2024. Therefore, the information in this section is provided on a voluntary basis. CRH will fall within scope of the EU Taxonomy regulation again in line with the timeline for reporting under the EU Corporate Sustainability Reporting Directive (CSRD).

CRH will continue to voluntarily disclose its KPIs for the year ended December 31, 2024 in relation to the first two environmental objectives; climate change mitigation and climate change adaptation under the Climate Delegated Act (Regulation (EU) 2021/2139), its Annexes and amendments to the Climate Delegated Act (Regulation (EU) 2023/2485).

CRH will not comply with reporting on its eligibility under the four remaining environmental objectives as outlined in the Environmental Delegated Act (Regulation (EU) 2023/2486) and will report on its eligibility and alignment under these environmental objectives in line with the reporting timeline applicable to CRH under the CSRD.

CRH's assessment of Taxonomy-eligible economic activities

An assessment was completed by reviewing the Climate Delegated Act (Regulation (EU) 2021/2139) which established the descriptions of activities which are Taxonomy-eligible and considered the amendments as outlined in Regulation (EU) 2023/2485. The Climate Delegated Act prioritized specific sectors most relevant for achieving climate neutrality and delivering on climate change adaption in the European Union. A high proportion of CRH's activities do not fall into these prioritized sectors and are not included in the Climate Delegated Act.

CRH is reporting under the environmental objective of climate change mitigation as our activities primarily contribute to climate change mitigation. This avoids double-counting in the allocation of the numerator to Turnover, Capital Expenditure (CapEx), and Operating Expenditure (OpEx) KPIs across economic activities.

While the Climate Delegated Act and Regulation (EU) 2023/2485 do not cover a high proportion of our economic activities, we have identified the economic activity 3.7 Manufacture of cement as a Taxonomy-eligible activity. Further activities are in scope only for CapEx as outlined in the CapEx table.

We also assessed the Delegated Regulation (EU) 2022/1214 to see if any activities were Taxonomy-eligible. Some cement plants utilize generators for back-up power generation. This represents an immaterial portion of the Company's electricity consumption. It is already reported under activity 3.7 Manufacture of cement.

CRH's assessment of Taxonomy-aligned economic activities

We reviewed the Technical Screening Criteria to determine which of these eligible activities met the conditions of being Taxonomy-aligned. As a result of this assessment, we have identified 7% (2023: 5%) of turnover relating to economic activity 3.7 Manufacture of cement as Taxonomy-aligned. The level of alignment is low as the Technical Screening Criteria set is based upon the 10 lowest-emitting cement plants in the European Union. In addition, we also reviewed CapEx project expenditures for Taxonomy alignment for other economic activities as outlined on page 135.

As part of our assessment, we verified the share of the economic activity that qualifies as contributing substantially to the environmental objective of climate change mitigation. Our assessment did not identify any economic activities that contribute specifically to the second environmental objective of climate change adaptation. This is in line with our business strategy which is focused on mitigating the impact of climate change through our decarbonization roadmap and other environmental initiatives. We also confirmed each economic activity caused no significant harm to any of the other environmental objectives. An assessment was also undertaken that confirmed compliance with the minimum safeguards. The assessment took into account the four overarching topics of Human rights (includes labor and consumer rights), Corruption/Bribery, Taxation and Fair competition.

Share of Taxonomy-aligned, Taxonomy-eligible, not aligned, and Taxonomy non-eligible economic activities

		2024						2023
		Turnover		Capital Expenditure		Operating Expenditure		Turnover		Capital Expenditure		Operating Expenditure
		\$bn Proportion of Total		\$bn Proportion of Total		\$bn Proportion of Total		\$bn Proportion of Total		\$bn Proportion of Total		\$bn Proportion of Total
Cement1	0.3	1%	0.1	1%	0.0	1%	0.2	1%	0.0	1%	0.0	1 %
Other economic activities2			0.0	0%					0.0	0%
Taxonomy-aligned3	0.3	1%	0.1	1%	0.0	1%	0.2	1%	0.0	1%	0.0	1 %
Cement1	4.6	13%	2.7	42%	0.4	20%	4.3	12%	0.4	16%	0.4	20 %
Other economic activities4			0.5	8%					0.1	4%
Taxonomy-eligible, not aligned	4.6	13%	3.2	50%	0.4	20%	4.3	12%	0.5	20%	0.4	20 %
Taxonomy non-eligible	30.7	86%	3.2	49%	1.4	79%	30.4	87%	2.0	79%	1.4	79 %
Total	35.6	100%	6.5	100%	1.8	100%	34.9	100%	2.5	100%	1.8	100 %

Note: numbers are rounded to the nearest \$100 million and percentages to the nearest %.

1 Activity 3.7 Manufacture of cement.

2 Comprises Capital Expenditure under economic activities:

4.3 Electricity generation from wind power;

3 Taxonomy-Aligned economic activities comply with the Do no significant harm criteria and minimum safeguards.

4 Comprises Capital Expenditure under economic activities:

4.1 Electricity generation using solar photovoltaic technology;

6.5 Transport by motorbikes, passenger cars and light commercial vehicles;

6.6 Freight transport services by road;

7.1 Construction of new buildings;

7.2 Renovation of existing buildings;

7.4 Installation, maintenance and repair of charging stations for electric vehicles in buildings (and parking spaces attached to buildings); and

7.7 Acquisition and ownership of buildings.

Turnover KPI

The share of Taxonomy-aligned turnover is calculated by the proportion of turnover derived from economic activities that are Taxonomy-aligned (numerator) over total turnover as per the Consolidated Income Statement on page 42 (denominator).

The total turnover represents the consolidated revenue and amounts to \$35.6 billion for the financial year ended December 31, 2024 (2023: \$34.9 billion).

The accounting policy applicable for revenue recognition is addressed in detail beginning on page 50 of the Consolidated Financial Statements.

CRH's share of turnover associated with Taxonomy-aligned economic activities for the year ended December 31, 2024 is 1% (2023: 1%). Taxonomy-aligned turnover is comprised of turnover from the sale of grey cementitious materials to third-parties.

In addition to the Taxonomy-aligned turnover, CRH's Taxonomy-aligned businesses also sold cementitious materials to other CRH companies for use in downstream activities. This represented 18% of total revenue for those businesses (2023: 20%). This is a key driver of CRH's vertically integrated business model and helps contribute to the lower-carbon intensity of CRH's downstream businesses.

Capital Expenditure KPI

The share of Taxonomy-aligned CapEx is calculated by the proportion of CapEx associated with economic activities that are Taxonomy-aligned (numerator) over total CapEx (denominator).

Total CapEx includes additions to tangible and intangible assets, considered before depreciation, depletion, amortization and any remeasurements, and excluding fair value changes. It also includes additions as a result of business combinations. Total CapEx involves all additions to property, plant & equipment, Right-of-Use Assets and Intangible Assets. Any acquired goodwill is not considered.

For the reconciliation of total CapEx see Note 12, Note 13 and Note 19 to the Consolidated Financial Statements.

CRH's share of CapEx associated with Taxonomy-aligned economic activities for the year ended December 31, 2024 is 1% (2023: 1%). Taxonomy-aligned CapEx primarily comprises additions to owned property, plant & equipment. Eligible CapEx associated with the manufacture of cement in 2024 was 43% of total CapEx (2023: 17%). The increase is mainly driven by additions as a result of the cement assets acquired in the Adbri and Hunter transactions in the financial year.

CRH continuously invests in technology and efficiency projects across our operating companies to enhance environmental performance, as well as investing in the environmental element of major capital investment projects to reach our decarbonization targets.

Operating Expenditure KPI

The share of Taxonomy-aligned OpEx is calculated by the proportion of OpEx associated with economic activities that are Taxonomy-aligned (numerator) over total OpEx (denominator) as defined by the EU Taxonomy regulation.

EU Taxonomy regulations define total OpEx as the direct non-capitalized costs of R&D, building renovation measures, short-term leases, repairs and maintenance and any other direct expenditures relating to the day-to-day servicing of assets of property, plant & equipment.

As the EU Taxonomy regulation has its own definition of OpEx, the reported OpEx only represents a proportion of the total cost of sales and operating costs, and includes repairs and maintenance, short-term leases and R&D costs.

CRH's share of OpEx associated with Taxonomy-aligned economic activities for the year ended December 31, 2024 was 1% (2023:1%).

Proportion of turnover from products or services associated with Taxonomy-aligned economic activities - disclosure covering year 2024

Financial year 2024		2024		contribution criteria1	Substantial	DNSH criteria ('Does Not Significantly Harm')
Economic activities (1)	Code (2)	Turnover (3) US\$	Proportion of turnover, 2024 (4) %	Climate change mitigation (5) Y;N; N/EL;EL	Climate change adaptation (6) Y;N; N/EL;EL	Climate change mitigation (11) Y/N	Climate change adaptation (12) Y/N	Water (13) Y/N	Pollution (14) Y/N	Circular economy (15) Y/N	Biodiversity (16) Y/N	Minimum safeguards (17) Y/N	Proportion of Taxonomy-aligned (A.1.) or eligible turnover, 2023 (18) %	Category enabling activity (19) E	Category transitional activity (20) T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities (Taxonomy-aligned)
Cement2	CCM 3.7	0.3	1%	Y	N	N/A	Y	Y	Y	N/A	Y	Y	1%		T
Turnover of environmentally sustainable activities (Taxonomy-aligned) (A.1)		0.3	1%										1%
Of which enabling
Of which transitional			1%	Y	N	N/A	Y	Y	Y	N/A	Y	Y	1%		T
A.2 Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
Cement2	CCM 3.7		13%	EL	EL								12%
Turnover of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy aligned activities (A.2)		4.6	13%										12%
Turnover of Taxonomy-eligible activities (A.1+A.2)		4.9	14%										13%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
Turnover of Taxonomy-non eligible activities		30.7	86%
Total		35.6	100%

Note: numbers are rounded to the nearest \$100 million and percentages to the nearest %.

1 Water, Pollution, Circular economy and Biodiversity are not included under Substantial contribution criteria as CRH will report under these criteria in line with the timeline for reporting under CSRD.

2 Manufacture of cement.

Financial year 2024		2024			Substantial contribution criteria1				DNSH criteria ('Does Not Significantly Harm')
Economic activities (1)	Code (2)	OpEx (3) US\$	Proportion of OpEx, 2024 (4) %	Climate change mitigation (5) Y;N;N/ EL;EL	Climate change adaptation (6) Y;N;N/ EL;EL	Climate change mitigation (11) Y/N	Climate change adaptation (12) Y/N	Water (13) Y/N	Pollution (14) Y/N	Circular economy (15) Y/N	Biodiversity (16) Y/N	Minimum safeguards (17) Y/N	Proportion of Taxonomy aligned (A.1.) or eligible OpEx 2023 (18) %	Category enabling activity (19) E	Category transitional activity (20) T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities (Taxonomy-aligned)
Cement2	CCM 3.7	0.0	1%	Y	N	N/A	Y	Y	Y	N/A	Y	Y	1%		T
OpEx of environmentally sustainable activities (Taxonomy-aligned) (A.1)		0.0	1%										1%
Of which enabling
Of which transitional		0.0	1%	Y	N	N/A	Y	Y	Y	N/A	Y	Y	1%		T
A.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
Cement2	CCM 3.7	0.4	20%	EL	EL								20%
OpEx of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy aligned activities (A.2)		0.4	20%										20%
OpEx of Taxonomy eligible activities (A.1+A.2)		0.4	21%										21%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
OpEx of Taxonomy-non eligible activities		1.4	79%
Total		1.8	100%

Proportion of OpEx from products or services associated with Taxonomy-aligned economic activities - disclosure covering year 2024

Note: numbers are rounded to the nearest \$100 million and percentages to the nearest %. Where 0% noted, balance is <0.5% of Total OpEx.

1 Water, Pollution, Circular economy and Biodiversity are not included under Substantial contribution criteria as CRH will report under these criteria in line with the timeline for reporting under CSRD.

2 Manufacture of cement.

Financial year 2024 2024		Substantial contribution criteria1					DNSH criteria ('Does Not Significantly Harm')
Economic activities (1)	Code (2)	CapEx (3) US\$	Proportion of CapEx, 2024 (4) %	Climate change mitigation (5) Y;N;N/ EL;EL	Climate change adaptation (6) Y;N;N/ EL;EL	Climate change mitigation (11) Y/N	Climate change adaptation (12) Y/N	Water (13) Y/N	Pollution (14) Y/N	Circular economy (15) Y/N	Biodiversity (16) Y/N	Minimum safeguards (17) Y/N	Proportion of Taxonomy aligned (A.1.) or eligible CapEx 2023 (18) %	Category enabling activity (19) E	Category transitional activity (20) T
A. TAXONOMY-ELIGIBLE ACTIVITIES
A.1. Environmentally sustainable activities (Taxonomy-aligned)
Cement2	CCM 3.7	0.1	1%	Y	N	N/A	Y	Y	Y	N/A	Y	Y	1%		T
Wind power3	CCM 4.3	0.0	0%	Y	N	N/A	Y	Y	N/A	Y	Y	Y	0%
CapEx of environmentally sustainable activities (Taxonomy-aligned) (A.1)		0.1	1%										1%
Of which enabling
Of which transitional			1%	Y	N	N/A	Y	Y	Y	N/A	Y	Y	1%		T
A.2 Taxonomy-Eligible but not environmentally sustainable activities (not Taxonomy-aligned activities)
Cement2	CCM 3.7	2.7	42%	EL	EL								16%
Passenger cars4	CCM 6.5	0.0	1%	EL	EL								2%
Road freight5	CCM 6.6	0.3	4%	EL	EL								2%
Construction of new buildings	CCM 7.1	0.1	1%	EL	EL								0%
Acquisition and ownership of buildings	CCM 7.7	0.1	2%	EL	EL								0%
CapEx of Taxonomy-eligible but not environmentally sustainable activities (not Taxonomy aligned activities (A.2)		3.2	50%										20%
CapEx of Taxonomy eligible activities (A.1+A.2)		3.3	51%										21%
B. TAXONOMY-NON-ELIGIBLE ACTIVITIES
CapEx of Taxonomy-non eligible activities		3.2	49%
Total		6.5	100%

Proportion of CapEx from products or services associated with Taxonomy-aligned economic activities - disclosure covering year 2024

Note: numbers are rounded to the nearest \$100 million and percentages to the nearest %. Where 0% noted, balance is <0.5% of Total CapEx.

1 Water, Pollution, Circular economy and Biodiversity are not included under Substantial contribution criteria as CRH will report under these criteria in line with the timeline for reporting under CSRD.

² Manufacture of cement.

³Electricity generation from wind power.

4 Transport by motorbikes, passenger cars and light commercial vehicles.

5 Freight transport services by road.

Principal Subsidiary Undertakings

as at December 31, 2024

Americas Materials Solutions

Incorporated and operating in		% held	Products and services
Canada	CRH Canada Group Inc.		100 Aggregates, asphalt, cement and readymixed concrete and provider of construction services
	Ash Grove Cement Company	100	Aggregates and cement
	Callanan Industries, Inc.	100	Aggregates, asphalt, readymixed concrete and related construction activities
	CPM Development Corporation	100	Aggregates, asphalt, readymixed concrete, prestressed concrete and related construction activities
	Dolomite Products Company, Inc.	100	Aggregates, asphalt, readymixed concrete and related construction activities
	Michigan Paving and Materials Company	100	Aggregates, asphalt and related construction activities
	Mountain Enterprises, Inc.	100	Aggregates, asphalt and related construction activities
	Mulzer Crushed Stone	100	Aggregates, asphalt, readymixed concrete, aggregates distribution and related construction activities
	CRH Americas Materials, Inc. and subsidiaries	100	Holding company
	Oldcastle SW Group, Inc.	100	Aggregates, asphalt, readymixed concrete and related construction activities
	OMG Midwest, Inc.	100	Aggregates, asphalt, readymixed concrete and related construction activities
	Pennsy Supply, Inc.	100	Aggregates, asphalt, readymixed concrete and related construction activities
United States	Pike Industries, Inc.	100	Aggregates, asphalt, readymixed concrete and related construction activities
	P.J. Keating Company	100	Aggregates, asphalt and related construction activities
	Preferred Materials, Inc.	100	Aggregates, asphalt, readymixed concrete, aggregates distribution and related construction activities
	Staker & Parson Companies	100	Aggregates, asphalt, readymixed concrete and related construction activities
	Suwannee American Cement Company, LLC (trading as Ash Grove South)	80	Cement
	Tilcon Connecticut Inc.	100	Aggregates, asphalt, readymixed concrete and related construction activities
	Tilcon New York Inc.	100	Aggregates, asphalt and related construction activities
	The Shelly Company	100	Aggregates, asphalt, readymixed concrete and related construction activities
	Trap Rock Industries, LLC*	60	Aggregates, asphalt and related construction activities
	West Virginia Paving, Inc.	100	Aggregates, asphalt and related construction activities
	BoDean Company Inc.	100	Readymix
	Northgate Ready-Mix LLC.	100	Readymix

Americas Building Solutions

Incorporated and operating in		% held	Products and services
Canada	Oldcastle Building Products Canada, Inc. (trading as Groupe Permacon, Expocrete Concrete Products, Techniseal, Oldcastle Enclosure Solutions), C.R. Laurence of Canada	100	Specialty masonry, hardscape and patio products, utility boxes and trench systems
	APG Mid-Atlantic, Inc	100	Specialty masonry, hardscape and patio products
	Barrette Outdoor Living (Trading as Boyle Transportation Services, LLC and Barrette Logistics, Inc.)		Vinyl and aluminum fencing and railing and transportation
	CRH America Finance, Inc.	100	Holding company
	CRH America, Inc.	100	Holding company
	CRH Americas, Inc.	100	Holding company
	CRH Americas Products, Inc.	100	Holding company
	MoistureShield, Inc.	100	Composite building products
	National Pipe & Plastics, Inc.	100	Pipe Products
	Oldcastle APG Northeast, Inc. (trading principally as Anchor Concrete Products)	100	Specialty masonry, hardscape and patio products
	Oldcastle APG South, Inc. (trading principally as Adams Products, Georgia Masonry Supply, Northfield Block Company, and Oldcastle Coastal)	100	Specialty masonry, hardscape and patio products
United States	Oldcastle APG West, Inc. (trading principally as Amcor Masonry Products, Central Pre-Mix Concrete Products, Jewell Concrete, Sierra Building Products, US Mix, Superlite Block and Calstone)	100	Specialty masonry and stone products, hardscape and patio products
	Oldcastle APG, Inc. (trading principally as EP Henry, Pebble Technology International, and Anchor Wall Systems)		Specialty masonry and stone products, hardscape, patio products, aggregate pool finishes and freestanding and retaining wall systems
	Oldcastle Building Products, Inc.	100	Holding company
	Oldcastle Infrastructure, Inc.	100	Precast concrete products, concrete pipe, prestressed plank and structural elements
	Oldcastle Lawn & Garden, Inc.	100	Patio products, bagged stone, mulch and stone
	Hydro International Americas, Inc	100	Stormwater and waste water products
	Turner International Topco Limited (Hydro International)	100	Stormwater and waste water products
	Nordic Fiberglass Inc.	100	Fiberglass products

International Solutions⁹

Incorporated and operating in		% held	Products and services
	Infrastructure Products Australia Pty Ltd	100	Supplier of access chambers and ducting products
	Leviat Pty Limited	100	Construction accessories
Australia	Tri-Underground Pty Ltd	100	Supplier of access chambers and ducting products
	CTC Precast Pty Ltd	100	Precast concrete
	Adbri Pty Ltd		57 Cement, lime, readymixed concrete, aggregates & masonry
	Ergon N.V.	100	Precast concrete and structural elements
	Prefaco N.V.	100	Precast concrete structural elements
	Schelfhout N.V.	100	Precast concrete wall elements
Belgium	VVM N.V.*	100	Clinker grinding and cement production
	Plakabeton N.V.	100	Construction accessories
	Marlux N.V.	100	Concrete paving and landscaping products
	Northstone (NI) Limited	100	Building & civil engineering
	Northstone Materials Limited	100	Aggregates, readymixed concrete, mortar, coated macadam, rooftiles, building and civil engineering contracting
	Cubis Systems Limited	100	Chamber & covers
	Materials Testing Limited	100	Testing
	Premier Cement Limited	100	Marketing and distribution of cement
	Southern Cement Limited	100	Sale and distribution of cement
	Tarmac Aggregates Limited	100	Aggregates, asphalt, readymixed concrete and contracting
Britain & Northern Ireland	Tarmac Building Products Limited	100	Building products
	Tarmac Cement Limited	100	Cement
	Tarmac Trading Limited	100	Aggregates, asphalt, cement, readymixed concrete and contracting
	Leviat Limited	100	Construction accessories
	MCL Industrial Enclosures Limited	100
	MCL Group Holdings Limited	100	Supplier of ducting products
	Filoform UK Ltd	100	Supplier of access chambers and ducting products
	NAL Limited	100	Supplier of access chambers and ducting products
	Betongruppen RBR A/S	100	Concrete paving manufacturer
Denmark	RC Beton A/S	100	Manufacturer of concrete paving, concrete blocks and underground products
	CRH Concrete A/S	100	Structural concrete products
Estonia	Rudus AS	100	Aggregates and readymixed concrete
	Finnsementti Oy	100	Cement
Finland	Rudus Oy	100	Aggregates, readymixed concrete and concrete products
	Eqiom*	99.99	Aggregates, cement and readymixed concrete
	L'industrielle du Béton S.A.	100	Structural concrete products
France	Stradal	100	Utility and infrastructural concrete products
	Leviat S.A.S (Name change, formerly Plaka Group SAS)	100	Construction accessories
	Cubis SARL	100	Supplier of access chambers and ducting products
	Opterra GmbH*	100	Cement
	EHL AG	100	Concrete paving and landscape walling products
Germany	Leviat GmbH	100	Construction accessories
	Filoform GmbH	100	Supplier of ducting products
	Danucem Magyarország Kft.	100	Cement, aggregates and readymixed concrete
Hungary	Ferrobeton Dunaújvárosi Beton- és Vasbetonelem-gyártó Zrt*	100	Precast concrete structural elements

Ireland	Irish Cement Limited	100	Cement
	Roadstone Limited	100	Aggregates, readymixed concrete, mortar, coated macadam, concrete blocks and pipes, asphalt, agricultural and chemical limestone and contract surfacing
	Cubis Systems Limited	100	Supplier of access chambers and ducting products
	NAL Products Limited	100	Supplier of access chambers and ducting products
	Calduran B.V.	100	Sand-lime bricks and building elements
	Cementbouw B.V.	100	Cement transport and trading, readymixed concrete and aggregates
Netherlands	Heembeton B.V.	100	Precast concrete structural elements
	Dycore B.V.	100	Concrete flooring elements
	Struyk Verwo Groep B.V.	100	Concrete paving products
	Leviat B.V.	100	Construction accessories
Poland	Przedsiebiorstwo Produkcji Mas Betonowych Bosta Beton Sp. z o.o.	90.3	Readymixed concrete
	Drogomex Sp. z o.o.*	100	Asphalt and contract surfacing
	Cement Ożarów S.A.	100	Cement
	Masfalt Sp. z o.o.*	100	Asphalt and contract surfacing
	Trzuskawica S.A.	100	Production of lime and lime products
	Polbruk S.A.	100	Concrete paving products
	ROMCIM S.A.	98.61	Cement, aggregates and readymixed concrete
	Elpreco S.A.	100	Architectural concrete products
Romania	TehnoWorld SRL	100	Water infrastructure solutions
	Ferrobeton Romania SRL*	100	Structural concrete products
	Bauelemente	100	Structural concrete products
Serbia	Moravacem d.o.o. Popovac	100	Cement
	Danucem Slovensko a.s.	99.8	Cement, readymixed concrete and aggregates
Slovakia	Premac, spol. s.r.o.*	100	Concrete paving and floor elements
	Beton Catalan S.A.	100	Readymixed concrete
Spain	Cementos Lemona S.A.	98.75	Cement
Sweden	Ulricehamns Betong AB	100	Structural concrete products
	JURA-Holding AG	100	Cement, aggregates and readymixed concrete
Switzerland	Leviat AG*	100	Construction accessories
	LLC Cement	100	Cement
Ukraine	PJSC Mykolaivcement	100	Cement
	VIPCEM PJSC	100	Cement
	Podilsky Cement PJSC*	100	Cement
United States	Meadow Burke, LLC	100	Concrete accessories
	Republic Cement & Building Materials, Inc.	40	Cement
Philippines (i)	Republic Cement Land & Resources Inc.	40	Cement and Building Materials

(i) 55% economic interest in the combined Philippines business (see note 30 to the Consolidated Financial Statements).

Principal Equity Method Investments

as at December 31, 2024

Americas Materials Solutions

Incorporated and operating in		% held	Products and services
	Airlinx Transit Partners Inc.*	50	Special-purpose entity on Ontario infrastructure construction
	Blackbird Infrastructure 407 General Partnership*	50	Special-purpose entity on highway infrastructure construction
	Blackbird Maintenance 407 General Partnership*	50	Construction
	Blackbird Constructors 407 General Partnership*	50	Construction
Canada	Blackbird Infrastructure 407 CRH GP Inc.*	50	Special-purpose entity on highway infrastructure construction
	DAD (Finch West LRT Inc.)*	33	Special-purpose entity on Ontario infrastructure construction
	Kiewit-Dufferin Midtown Partnership*	35	Construction
	Mosaic Transit Partners General Partnership*	33	Special-purpose entity on infrastructure construction
	Mosaic Transit Constructors General Partnership*	33	Construction
United States	Buckeye Ready Mix, LLC*	45	Readymixed concrete
	Cadillac Asphalt, LLC*	50	Asphalt
	Piedmont Asphalt, LLC*	50	Asphalt
	Southside Materials, LLC*	50	Aggregates
	Camden Materials, LLC*	50	Asphalt
	Carrollton River Terminal, LLC*	50	Liquid asphalt storage
	Nally & Gibson Georgetown, LLC*	50	Aggregates, asphalt and construction
	S&Y Terminal, LLC*	20	Liquid asphalt terminal
	Great Lakes Slag US, LLC*	50	Slag

International Solutions

Incorporated and operating in		% held	Products and services
Australia	10 E.B. Mawson & Sons Pty Ltd & Controlled Entities	50	Aggregates & readymixed concrete
	Independent Cement & Lime Pty Ltd	50	Cement
China	Yatai Building Materials Group Company Limited*	26	Cement
Ireland	Kemek Limited*	50	Commercial explosives

Non-GAAP Reconciliation

CRH uses a number of non-GAAP performance measures to monitor financial performance. These measures are referred to throughout the discussion of our reported financial position and operating performance on a continuing operations basis unless otherwise defined and are measures which are regularly reviewed by CRH management. These performance measures may not be uniformly defined by all companies and accordingly may not be directly comparable with similarly titled measures and disclosures by other companies.

Certain information presented is derived from amounts calculated in accordance with IFRS but is not itself an expressly permitted GAAP measure. The non-GAAP performance measures as summarized below should not be viewed in isolation or as an alternative to the equivalent GAAP measure.

Adjusted EBITDA: Adjusted EBITDA is defined as earnings from continuing operations before interest, taxes, depreciation, depletion, amortization, impairment charges, gain/loss on divestitures and unrealized gain/loss on investments, income/loss from equity method investments and substantial acquisition-related costs. It is quoted by management in conjunction with other GAAP and non-GAAP financial measures to aid investors in their analysis of the performance of the Company. Adjusted EBITDA by segment is monitored by management in order to allocate resources between segments and to assess performance.

Adjusted EBITDA margin is calculated by expressing Adjusted EBITDA as a percentage of revenue.

Reconciliation to its nearest GAAP measure is presented below:

in \$ millions	2024	2023
Profit for the financial year	3,374	3,024
Income tax expense	1,076	941
Profit before tax	4,450	3,965
Loss from equity method investments	108	17
Other financial expense	60	54
Finance costs less income	464	251
Profit before finance costs	5,082	4,287
Gain on divestitures	(208)	–
Operating profit	4,874	4,287
Depreciation, depletion, amortization and impairment	2,196	2,213
Substantial acquisition-related costs (i)	46	–
Adjusted EBITDA	7,116	6,500
Revenue	35,572	34,949
Adjusted EBITDA margin	20.0%	18.6%

(i) Represents expenses associated with non-routine substantial acquisitions, which meet the criteria for being separately reported in Note 29 of the audited financial statements. Expenses in 2024 primarily include legal and consulting expenses related to these non-routine substantial acquisitions.

Net debt: Net debt is used by management as it gives additional insight into the Company's current debt position less available cash. Net debt is provided to enable investors to see the economic effect of gross debt, related hedges and cash and cash equivalents in total. Net debt comprises current and non-current interest-bearing loans and borrowings, lease liabilities, cash and cash equivalents and current and non-current derivative financial instruments (net).

Reconciliation to its nearest GAAP measure is presented below:

in \$ millions	2024	2023
Interest-bearing loans and borrowings (i)	(13,968)	(11,642)
Cash and cash equivalents (i)	3,720	6,390
Lease liabilities (i)	(1,596)	(1,503)
Derivative financial instruments (net) (i)	(27)	(37)
Net debt (ii)	(11,871)	(6,792)

(i) These items appear in Notes 19 to 24 of the Consolidated Financial Statements.

(ii) Includes \$49 million cash and cash equivalents and \$6 million lease liabilities reclassified as held for sale in 2023.

Basic Earnings per Share (EPS) pre-impairment: Basic EPS pre-impairment is a measure of the Company's profitability per share excluding any non-cash impairment charges and the related tax impact of such impairments. It is used by management to evaluate the Company's underlying profit performance and its own past performance. Basic EPS information presented on a pre-impairment basis is useful to investors as it provides an insight into the Company's underlying performance and profitability. Basic EPS pre-impairment is calculated as profit from continuing operations adjusted for loss/profit attributable to non-controlling interests, and excluding any non-cash impairment charges (and the related tax impact of such impairments) divided by the weighted average number of ordinary shares outstanding for the year.

Reconciliation to its nearest GAAP measure is presented below:

in \$ millions (except share and per share figures)	2024	Per Share - basic	2023	Per Share - basic
Weighted average number of Ordinary Shares (millions) outstanding - basic	683.3		723.9
Profit for the financial year	3,374		3,024
(Profit)/loss attributable to non-controlling interests	(29)		106
Profit attributable to equity holders of the Company	3,345		3,130
Preference dividends	—		–
Profit attributable to ordinary equity holders of the Company - numerator for basic earnings per Ordinary Share	3,345	\$4.90	3,130	\$4.32
Impairment of property, plant and equipment and intangible assets	161	\$0.23	224	\$0.31
Impairment of equity method investments (net of tax)	151	\$0.22	–	–
Tax related to impairment charges	(26)	(\$0.04)	(9)	(\$0.01)
Profit attributable to ordinary equity holders of the Company - numerator for basic earnings per Ordinary Share - pre-impairment (i)	3,631	\$5.31	3,345	\$4.62

(i) Reflective of CRH's share of impairment of property, plant and equipment and intangible assets (2024: \$161 million; 2023: \$224 million), an impairment of equity method investments (2024: \$190 million; 2023: \$nil million) and related tax effect.

Revenue from products with enhanced sustainability attributes: is derived from products that incorporate any, or a combination of: recycled materials; are produced using alternative energy and fuel sources; have a lower-carbon footprint as compared to those produced using traditional manufacturing processes; and/or are designed to specifically benefit the environment (i.e. water treatment and management systems, products with strong thermal mass/U-values).

in \$ millions	2024	2023
Revenue (i)	35,572	34,949
Adjusted for:
Service revenue excluding the internal value of products delivered as part of the total service (ii)	(6,021)	(5,872)
Denominator - Adjusted product revenue	29,551	29,077
Numerator - Revenue from products with enhanced sustainability attributes	14,610	13,888
Percentage revenue from products with enhanced sustainability attributes	49%	48%

(i) Revenue as shown in the Consolidated Income Statement on page 42.

(ii) Service revenue relates to the sale of services (i.e., contracting, distribution and other services), adjusted to exclude the value of products delivered as part of the service and incorporated within service revenue.