🧾 What This Document Is

This is a 6-K filing with the Argentine securities regulator. It’s a “relevant event” update, which means the company is disclosing major news to investors. This specific filing updates the market on a crucial change happening at the very top of its ownership chain. Think of it as a "who's the boss now?" announcement for the company's ultimate parent.

🏢 The Ownership Chain — Simplified

In simple terms, Loma Negra is a major Argentine cement company. Its direct owner is a Spanish entity called InterCement Trading e Inversiones Argentina, S.L., which holds 52.14% of Loma Negra's voting shares. That Spanish company is, in turn, owned by a Brazilian parent called Intercement Participações (ICP). This filing is all about what happened to that top-level Brazilian company, ICP.

🔥 The Big Change at the Top

The controlling shareholder of Loma Negra, the Brazilian company ICP, just went through a major judicial reorganization—essentially a court-supervised restructuring of its debts.

• What Happened: ICP held an extraordinary shareholder meeting on April 6, 2026 to execute its court-approved reorganization plan.
• The Key Move: Instead of paying some creditors with cash, ICP did a debt-for-equity swap. It increased its capital by a massive R$ 2.816 billion (Brazilian Reals) and issued over 1.28 billion new shares to those creditors.
• Old Owners Out: The previous ultimate controlling shareholder, Mover Participações S.A., had its shares cancelled and waived its rights. They are out of the picture.
• New Board: A completely new board of directors was appointed for ICP.

👥 The New Owners of Your Boss

The creditors who took shares instead of cash are now the new owners of ICP. The new ownership structure of the top-level parent is:

• Latcem LLC: 38.7%
• Redwood (through two funds): 26.7%
• Moneda (through several funds): 24.0%
• Cigna Health and Life Insurance Company: 4.9%
• Other creditors: 5.7%

👉 Why It Matters: This means Loma Negra's ultimate owners have completely changed from one family/holding company to a group of large financial investors and funds.

🏛️ What This Means for Loma Negra

Here’s the most important part for a Loma Negra investor:

1. Direct Control Unchanged: Loma Negra says its direct controlling shareholder, InterCement Trading e Inversiones Argentina, S.L., still owns 52.14% and that has not changed. The day-to-day leadership in Argentina remains the same for now.
2. No Voting Pacts: Loma Negra states it has been informed that there are no agreements among the new ICP shareholders regarding how to govern ICP or its subsidiaries (including Loma Negra). This is crucial—it means the new owners don't have a pre-arranged plan to act in concert.
3. Signaling a New Era: The old debt problem at the parent level is resolved, but it introduces new, powerful financial investors at the top. Their goals (e.g., financial returns vs. long-term strategic control) will now shape the future of the entire group.

🔮 What's Next & Signals

This is a maturing event in a long restructuring saga (updates were filed repeatedly since May 2024). The old debt overhang is gone, replaced by new owners.

• Watch For: Any future announcements about strategy, dividends, or potential asset sales from the new ICP board. Their incentives as financial funds might differ from the previous owners.
• The Signal: Stability has been achieved at the parent level through a painful but necessary financial restructuring. The group is now under new, deep-pocketed ownership.

⚖️ Strengths (👍) & Risks (⚠️)

• 👍 Positive: Resolves a major long-term uncertainty. Brings in potentially well-capitalized owners. Removes the threat of a disorderly collapse at the parent level.
• ⚠️ Risk: New, powerful financial owners often seek to maximize returns, which could lead to changes in strategy, pressure for higher dividends, or even a future sale of assets (like Loma Negra). The lack of a voting pact means their alignment isn't guaranteed.

🧠 The Analogy

Imagine your house (Loma Negra) is owned by a landlord (InterCement Spain). That landlord’s mortgage was held by a big bank (the old ICP owners). The bank ran into financial trouble and, to settle its debts, foreclosed on itself and sold the mortgage note to a group of hedge funds. You still have the same landlord managing the property day-to-day, but the ultimate owners who call the shots are now a syndicate of investors you've never met. Their plans for the building might be very different.

🧩 Final Takeaway

Loma Negra's direct ownership hasn't changed, but its ultimate parent company has been taken over by a group of financial creditors as part of a debt restructuring. The next chapter of the company will be written by these new, powerful stakeholders, making their future strategy the key thing to watch.