JPM | Building Broadcast: HEI,BZU,GET,FGR,FER,FRA, VTY,PSN JPMC Construction Daily

Research evidence excerpt

JPM | Building Broadcast: HEI,BZU,GET,FGR,FER,FRA, VTY,PSN JPMC Construction Daily

J P M O R G A N Europe Equity Research

09 July 2026

JPM | Building Broadcast:

HEI,BZU,GET,FGR,FER,FRA,

VTY,PSN

JPMC Construction Daily

Building Materials European Building & Construction

and Infrastructure

• Heidelberg Materials/Buzzi: CO₂ research project “catch4climate” Elodie Rall AC

officially inaugurated with 200 guests from politics and industry. With the (44-20) 7134-5911

elodie.rall@jpmorgan.com

start of operations of the world’s first research and development facility for CO₂ J.P. Morgan Securities plc

capture based on the Pure Oxyfuel process, the European cement manufacturers

Zaim Beekawa

Buzzi/Dyckerhoff, Heidelberg Materials, SCHWENK Zement, and Vicat are (44-20) 7134-4175

sending an important signal for the decarbonization of the construction zaim.beekawa@jpmorgan.com

materials industry. After seven years of intensive planning, development, and J.P. Morgan Securities plc

implementation, the research company CI4C GmbH & Co. KG yesterday Jamie Smallbone

officially inaugurated the world’s first of its kind research and development (44-20) 3493-7015

facility applying the Pure Oxyfuel process designed by thyssenkrupp Polysius. jamie.smallbone@jpmorgan.com

The facility is intended to demonstrate how CO₂ emissions from cement J.P. Morgan Securities plc

production can be captured energy- and cost-efficiently in the future using the Manshi Sinha

Oxyfuel process and thus marks a significant milestone in the transformation of (91-22) 6157 5111

manshi.sinha@jpmchase.com

the cement industry. Link to the press release. J.P. Morgan India Private Limited

• Republic Cement forms circular economy partnership. Global Cement