Exhibit 2.5



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|---------------------- |  | -----------------
|DEFINITIVE CERTIFICATE |  | REPRESENTING     
|NUMBER 000000          |  | 0 SHARES         
|                       | 
|                       |  | COMMON STOCK     
|                       | 
|                       |  | NUM.:00000000000 
|                       |  | TO: 0000000000000

[CEMEX LETTERHEAD]

CEMEX S.A.B. DE C.V.

Series A

Variable Capital



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|Place of Business |  | Duration    
|Monterrey, N.L.   |  | May 27, 2100

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX is the holder of 0 share of fully paid ordinary common stock, with no
par value of the Series A shares of XXXXXXXXXXXX shares that represent the total of Series A shares, representing the variable capital stock of CEMEX, S.A.B. de C.V.

CEMEX, S.A.B. de C.V., was incorporated by Public Deed No. 94 of May 28, 1920, granted in the sworn presence of Mr. Carlos Lozano, Notary
Public licensed in Monterrey, Nuevo León, and registered in the Public Register of Commerce of the same city under No. 21, Pages 157 to 186, Volume 16, Book 3, Second Auxiliary, with the date of June 11, 1920. CEMEX, S.A.B. de C.V.
has had several name changes, the most recent that mentioned in Public Deed No. 35,211 of April 27, 2006, granted in the sworn presence of Mr. Francisco Garza Calderon, Notary Public No. 75 practicing in the First Recording
District of the State of Nuevo Leon, pursuant to which, among others, the bylaws of the Company were amended in order to adapt them to the provisions of the Ley del Mercado de Valores, therefore obtaining the legal name CEMEX, S.A.B. de C.V.

By means of the Extraordinary General Meeting of Shareholders held on February 24, 2011, it was resolved to amend Articles 8 of the bylaws. The
corresponding resolutions were officially certified by Public Deed No. 57,590 of February 24, 2011, granted in the sworn presence of Mr. Juan Manuel García Cañamar, Substitute Notary Public, associate of Mr. Juan
Manuel Garcia García, Notary Public No. 129 practicing in the First Recording District of the State of Nuevo Leon, and registered under electronic mercantile file No. 532*9, dated March 2, 2011, in the Public Registry of
Property and Commerce of the State of Nuevo León.

MONTERREY, N.L., [DATE]



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|BOARD MEMBER |  | BOARD MEMBER

ATTACHED
COUPONS-



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|CEMEX, S.A.B. DE C.V.
NOMINATED COUPON No. []
DEFINITIVE CERTIFICATE
Num. 000000000
REPRESENTING 0
SHARES 
VARIABLE SERIES A
[Date] |  | 



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CEMEX, S.A.B. DE C.V.

EXTRACT OF THE BY-LAWS



ARTICLE 5. NATIONALITY.- This Company is Mexican. Any foreigner who in the incorporation date of this Company
has acquired or in the future shall acquire an interest or participation in the Capital Stock of the Company, shall be considered for this sole act as Mexican, it being understood that said party has agreed not to seek the protection of its
government, under penalty of losing said interest or participation in favor of the Republic of Mexico. This article shall be inserted in its entirety on the share certificates issued by the Company. This Company received authorization from the
Mexican Ministry of Foreign Affairs under Permit Number 267, dated February 4, 1927, in accordance with the Organizational Law of Section I of Article 27 of the Constitution and its Regulations. ARTICLE 7. ACQUISITION OF OWN SHARES AND MEASURES TO LIMIT THE SHAREHOLDING OWNERSHIP.- I.- The Company may acquire shares representing its own Capital Stock
or negotiable instruments representing them, as well as optional instruments or financial derivative instruments which may be liquidated in kind that have such shares or negotiable instruments underlying in accordance with the terms and conditions
indicated by the applicable Law. The shares or negotiable instruments that represent such shares that belong to the Company, or, the shares issued but not subscribed maintained in the Treasury, may be placed among the public investors in accordance
with the dispositions of the applicable law. So long the shares are the property of the Company, they may not be represented nor voted in the Shareholders Meetings, and no social or economic rights of whatever nature may be exercised. II.-
(A).- For purposes of these by-laws, the following definitions shall apply, whether in their singular or plural form: Shares: the ones that represent the Capital Stock of the Company; any type of certificate or receipt referred to the
shares representing the Capital Stock of the Company; as well as any other security, negotiable instrument or document that refers to or permits the exercise of, the vote of the corresponding shares representing the Capital Stock of CEMEX, S.A.B. de
C.V. CONSORTIUM: shall have the meaning established by the Mexican Securities Law. RELATIVE: person or persons that with respect to each other, have family relationship by consanguinity, affinity or civil, up until the fifth
degree in a straight or collateral line, the spouse, concubine and concubinary. ENCUMBRANCE: pledges, seizures, trusts (or equivalent figures under foreign Law), or any act or transaction that in any form, limits, restricts or affects,
the implicit rights of the Shares. GROUP OF PERSONS: shall have the meaning established by the Mexican Securities Law. CORPORATE GROUP: shall have the meaning established by the Mexican Securities Law. RELATED
PARTY: shall have the meaning established by the Mexican Securities Law. HOLDING: the ownership, possession or holding of Shares or the possibility of instructing or exercising the right to vote. TRANSACTION: Any
agreement, contract, unilateral declaration, stipulation, arrangement and any act that creates, transmits, modifies or extinguishes obligations, including, enunciatively but not limited to, all acts or facts that give or may give place for any
exercise or instruction of the exercise of the vote, or if the ownership, possession or holding of the Shares may be obtained. Any Transaction or Encumbrance that may result or results in a possibility, directly or indirectly, to acquire or exercise
the right to vote regarding the Shares that represent a 2% or more of the Capital Stock of the Company, shall be subject to the prior authorization of the Board of Directors. The Board of Directors must decide, within a period of 90 days from the
reception of the written application directed to the President or Secretary of the Board. The application must contain: (i) name, social denomination of the participant(s) in the Transaction or Encumbrance and the Shares whose Holding they have
on the date of the application, (ii) in case of a Group of Persons, Corporate Group, Consortium, Related Parties or Relatives, provide the details of all the persons involved, indicating their name, social denomination and Shares each holds, as
well as who shall exercise the social and economic rights, and (iii) description of the Transactions or Encumbrances. The Board of Directors, in order to resolve the applications, shall consider the following criteria: a) if it involves
Transactions or Encumbrances of qualified investors or institutions in which the public investors participate; b) the likelihood of the participants in the Transactions or Encumbrances exercising a significant influence or being able to obtain
control (as these terms are defined in the applicable law); c) if all the legal dispositions and the by-laws have been observed, and the persons who wish to participate in the Transactions or Encumbrances have not incurred in any violation of the
Law or by-laws or have not complied with the applicable Law or by-laws; d) if the persons who wish to participate in the Transactions or Encumbrances are competitors of the Company and there is a risk of affecting the free market competition or
there could be an access to confidential and privileged information; e) the moral and economic solvency of the participants; f) the protection of the minority rights and the rights of the workers of the Company and its subsidiaries; and g) maintain
an adequate base of investors. If the Board of Directors authorizes the application, the Transaction or Encumbrance shall be done during the next 10 (ten) days following notification from the Board of such authorization. If done afterwards, the
authorization shall be null. II.- (B).- Any Transaction or Encumbrance that results o may result in a participation equal or greater than 30% of the Capital Stock of the Company, shall oblige, without taking into account whether the participants in
the Transaction or Encumbrance wish or not to acquire control, the execution of a forced public offer for the acquisition for the total of the Shares representing the Companys Capital Stock. In the event the requirements described in numeral
II of this article are not met or exceed the participations indicated in the paragraphs A and B, the persons involved therein shall not be entitled to exercise the voting rights corresponding to the total of the Shares whose Holding was obtained or
is obtained, and therefore, such Shares shall not be taken into account for the determination of the quorum of attendance and voting in the Shareholders Meetings, nor shall the records in the shareholder ledger be done and there shall be no
effects of the Registry done by the Institute for the Deposit of Securities. In order to determine if a specific situation is within numeral II of this Article, the following considerations and criteria shall apply and all the Shares whose holding
is obtained, shall be obtained, or is obtained by virtue of any Transaction or Encumbrance, shall be taken into account (the calculation shall be made regarding the number of shares directly representing the Capital Stock of the Company). 1.- It does not matter if the Transaction or Encumbrance is made abroad. 2.- A single Holding shall be considered regarding each of the participants in the Group of Persons, Corporate Group, Consortium, each Related Party, and each
Relative. 3.- Each Transaction or Encumbrance that may result in obtaining a 2% or more of the Capital Stock must be submitted to authorization. 4.- In case of Trusts established by the Company for the issuance of ordinary participation certificates to be offered to the public investors, the fiduciary
institution shall not be subject to numeral II of this Article or Article 10 of these by-laws. 5.- For the interpretation of these by-laws, the applicable
law shall be taken into account. ARTICLE 8. MODIFICATIONS TO THE CAPITAL STOCK.- To increase or decrease the Capital Stock and amortize issued shares
with undistributed profits, except in accordance with the provisions of Article 7 of these by-laws, the following procedure shall be followed: The Fixed Capital Stock shall only be increased or decreased by resolution of the General Extraordinary
Shareholders Meeting, and such Meeting shall also authorize the amortization of issued shares with distributable profits representing this part of the Capital Stock and the amendments to the limits of the Variable Capital. The Variable Capital
Stock shall be increased or decreased by resolution of the General Ordinary Shareholders Meeting, and such Meeting shall also resolve about the amortization of issued Shares representing this part of the Capital Stock with distributable
profits; in the event of a capital increase in its Variable part, the Meeting may delegate to the Board of Directors the authority to determine the terms and conditions under which it shall proceed to the issuance, exhibit and subscription of the
respective shares, which once issued and while subscribed shall be held by the Treasury of the Company. In the event of a capital reduction in the Variable part of its Capital Stock, the Board of Directors, in accordance with applicable legal
provisions, may fix the terms and conditions for its implementation. The amortization of Shares with distributable profits shall be made in accordance with the terms mentioned by the Law. The minutes of the General Ordinary Shareholders ́
Meetings that approve increases or decreases in the variable portion of the Capital Stock must be notarize, except in the cases where the increases and decreases are the result of the repurchase of shares. In the terms of the applicable law, the Company may increase its Capital Stock by the issuance of non-voting shares, shares with other limitations in their
corporate rights, or shares with restricted vote. The issuance of the shares mentioned in this paragraph shall not exceed the percentage of the Capital Stock established by the applicable Law and may be part of the Fixed or Variable portions of the
Capital Stock. The non-voting shares shall not be counted for purposes of determining the attendance or voting quorums at the Shareholders
Meetings, while the shares with limitations on other corporate rights, or of restricted vote, shall only be counted to determine the attendance and voting quorums in the Shareholders Meetings held to deal with any matters in which such shares
have a voting right. Issued Class Shares, as the case may be, shall conform one or several Series with its respective sub-series, each Series shall be
identified with two letters of the alphabet, one of which shall be A, B or N, respectively and depending on whether its holding restrictions are reserved in the terms of these by-laws with respect to the Series
A, common ordinary Capital, are of free subscription in the terms of these by-laws with respect to the Series B of the common ordinary Capital Stock, or in its case, are considered as neutral investment under which they shall
also have free subscription; and the other letter shall be used to distinguish them from the shares representing the common ordinary Capital Stock and the other Classes that conform the Capital Stock, attaching a progressive number for each
sub-series issued. In the event of a Capital Stock increase, the Shareholders Meeting may extend, limit or deny shareholders holding shares that
represent the Capital Stock the preemptive right to subscribe, in proportion to their participation in the same and depending on their participation in the common ordinary capital or in the capital represented by Class Shares, the shares that in
either case are issued. When applicable, the proportion shall be


determined considering only the participation in the issued Capital Stock and the preemptive rights may only be exercised with respect to the same class of Shares that are held by the shareholder
and within the (15) fifteen days following the publication of the resolution of the respective Shareholders Meeting, the publication shall be made in the terms provided in these by-laws for the calls for Shareholders Meetings. The
preemptive right to subscribe shall not be applicable to increases to the capital through public offers or through the issuance of own shares previously acquired by the Company. The Shareholders shall also have the right to receive the shares that are issued by means of capitalization of reserves or profits, in the understanding that
the shares issued under this concept shall correspond proportionately to all issued Shares. The Shareholders Meeting shall determine the nature or class of shares that shall be represented by the Capital Increases made by the capitalization of
reserves or profits and only those Shareholders holding common ordinary shares or Class Shares, depending on which of them are being issued, shall share the benefit of receiving the shares so issued in the proportion of their Holdings in the issued
ordinary common Capital Stock or of Class, respectively. The Company may issue Treasury Shares to be subscribed afterwards by the public investors, in
accordance and subject to the applicable Laws. The shareholders of the variable part of the Capital Stock of the Company shall not have withdrawal
rights. The Company shall keep a Book, which shall be authorized by the Chairman or Secretary of the Board of Directors or by any other officer
designated by the Board of Directors for this purpose. All notes relating to the registration of increases and decreases of the Capital Stock in its Variable portion shall be kept in this Book. ARTICLE 10. SHARE REGISTRY AND SIGNIFICANT PARTICIPATIONS.- The Company shall have a Share Registry that must contain: a).- The name, nationality, and address
of the Shareholder, as well as the indication of the shares belonging to him, indicating their number, series, class, and other distinctions; b).- The indication of the payments made taking place; c).- Any encumbrances over the Shares, as well as of
the rights incorporated in them, the limitations of domain, and transfers made. The Registry must also comply with the dispositions established in the applicable law and with Article 7 of these by-laws. The Company shall consider the person
inscribed in the Registry, referred to in this article, as owner of the shares. To this effect, the Company must record in such Registry, when requested by any holder, the transfers, limitations, or liens imposed on them. In case the Shares or
certificates that represent them were deposited in an authorized Institution for the Deposit of Securities, the register shall be made in accordance with the applicable law and with the by-laws. The persons who, in any way and in accordance with the
criteria set forth in numeral II of Article 7 of these by-laws, obtain a participation of 5%, 10%, 15%, 20%, 25% or 30% must inform the Company within a period of 5 (five) working days following the day in which such percentage of ownership is
obtained or exceeded. For purposes of calculating such percentages, numeral II of article 7 of these by-laws shall apply. In the case of Corporate Groups, Groups of Persons, or Consortiums, the obligation to notify applies to all the persons that
are considered members of such groups. The notice given to the Company, referenced in this Article, shall include the name of the person or persons that
have the ownership and the rights or faculties acquired, the authorization from the Board in those cases described in Article 7 of these by-laws, and the data needed to identify the persons regarding the ones for which Shares are grouped for
Ownership. In case of non-compliance with the provisions of this Article, regarding notices of significant participations, the corresponding Shares shall
not be represented in the Meeting. The Company shall keep a registry of significant participations, where names, nationality and domicile of the persons
whose names are in the instruments or respective certificates, as well as the relation, agreement or arrangement that exists between them and the information necessary in order to verify the compliance of these by-laws, shall be registered. Only
those who are registered may represent the respective shares in the Shareholders Meeting. The shareholders must, additionally, comply with what the applicable law establishes regarding acquisitions of securities subject to disclosure and
disclosure of contracts and agreements between shareholders. In order to comply with the obligations to notify, this Article shall apply. Only those that have complied with these by-laws and the applicable law shall be able to exercise or instruct
the exercise of the corresponding voting rights. In case of non-compliance with what is stated in these by-laws, the registration in the Registry of Shares shall not take place and all the transactions made by an institution for the deposit of
securities shall have no legal effect whatsoever before the Company. ARTICLE 14. ATTENDANCE TO THE SHAREHOLDERS MEETINGS.- In order to attend and
participate in the General Meetings of Shareholders, the Shareholders with the right to vote shall deposit their shares at the corporate offices, in a Mexican credit institution or a brokerage firm, operating in accordance with the Mexican
Securities Law. The Certificate of Deposit and, as the case may be, the list of Owners issued by the broker shall be delivered in the office of the Secretary of the Company at least 48 hours prior to the time set for the Meeting. In addition, it is
necessary to observe the dispositions of Articles 7 and 10 of these by-laws regarding the Shares intended to be represented in the Meeting. The Secretary, in exchange for the aforesaid certificate of deposit, shall list, and after checking the
compliance with the by-laws regarding Articles 7 and 10, shall issue a deposit voucher that verifies the shareholders standing as such and the number of shares represented. Said voucher shall authorize the person to whom it has been issued to
attend the Meeting. The deposited shares or respective certificates shall only be returned to the Shareholders when the Meeting has been concluded, and in exchange for the voucher issued by the Secretary. The Secretary shall have the documents
referred to herein, at the disposal of the Tellers appointed to act as such at the respective Meeting, so that, at the end of the respective registration period, they may prepare the Attendance List of the Shareholders who have right to attend that
Meeting. ARTICLE 15. SHAREHOLDERS REPRESENTATION.- Every Shareholder has the right, subject to compliance with these by-laws, to attend the
Meetings, personally or through Proxy. If attending by Proxy, it shall be necessary to obtain a simple power of attorney, granted in accordance with the forms created by the Company and that shall be at the disposal of the shareholders, including
the brokers in the Stock Exchange, during the term indicated by the Law. The forms shall contain the following: (a) clearly name the Company and the Agenda without mentioning under the title General Matters, the items referred to by
the applicable law, and (b) a space for including the instructions for exercise of the Power of Attorney indicated by the grantor of such Power of Attorney. The Secretary of the Board of Directors shall verify that this Article is observed and shall inform the Meeting thereof. ARTICLE 18. VOTING RIGHTS AND QUOROUM OF THE SHAREHOLDERS MEETINGS.- In all Meetings, each common ordinary share shall be entitled to one vote. This
principle shall be subject to applicable legal provisions and to the provisions of these by-laws, with exception to those cases of shares temporarily re-acquired by the Company as referred to in numeral I of Article 7; to the non-voting shares, as
well as to, or with the limitation to other corporate rights, and any shares with limited vote in accordance with the applicable law and the resolutions of the Shareholders Meeting in which its issuance has been approved; as well as to those
cases contemplated by numeral II of Article 7 and Article 10 of these by-laws. In all Ordinary Shareholders Meetings, the resolutions shall be valid with the affirmative vote of the majority of the votes of the voting-shares present thereat.
In the Extraordinary Shareholders Meetings, the resolutions shall only be valid if approved by the affirmative vote of the voting-shares representing at least (50%) fifty per cent of the Capital Stock with voting rights, except in the
case of amendments to Articles 7 (except for the acquisitions of own shares), 10, and 22, in which it shall be required to obtain approval of (75%) seventy-five percent of the voting shares as well as those cases that in accordance with the
Law, require a special quorum. It shall be left to the Tellers, who shall sign the respective minute, to verify that the quorums so indicated are complied with. The Shareholders, Owners of shares with voting rights, including in a limited or
restrictive form, that represent at least 20% of the Capital Stock subscribed and paid, shall have the right to judicially oppose to the resolutions of the General Meetings, regarding those items where they have voting rights, whenever the
provisions stated in applicable law, for these purposes, are observed. The shareholders owning shares with voting rights, limited or restricted, who
jointly or individually own 10% of the Capital Stock, may request the postponement, only once, by 3 days and without the need for a new call, of the voting of any matter which they feel they have not been sufficiently informed of. ARTICLE 42. CANCELLATION OF LISTING ON THE NATIONAL REGISTER OF SECURITIES.- In the event that the Company requests the cancellation of the listing of its
shares on the Securities Section of the National Register of Securities, the prior approval of the General Extraordinary Shareholders Meeting, with the favorable vote of the shares, with or without voting rights, that represent 95% of the
Companys Capital Stock, shall be required. It shall also be necessary to make a public tender offer, which shall be made at the price, terms and conditions established by the Law or determined by the National Banking and Securities Commission
through its regulations. The Company shall create a trust, for a period of at least six month as of the date of such cancellation, with enough funds to
purchase, at the same offered price, the shares of those investors who did not tender at such offer. The Board of Directors shall inform to investors and
the public, through the stock exchanges where the Companys securities are traded and in compliance with the conditions established by such stock exchanges, its opinion with respect to the price of the offer.






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|The rights of this Certificate are assigned to: |  |  |  |             
|Domicile:                                       |  |  |  |             
|Nationality:                                    |  |  |  | Date:        |  |  |  | 
|Signature:                                      |  |  |  |             
|Record Number:                                  |  |  |  | Record Date: |  |  |  |