Tecnoglass Inc.

There have been no material changes to the risk factors previously disclosed in Part 1, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2024, except as follows:

Risks Related to Colombia and Other Countries Where We Operate

Our business could be negatively impacted by newly imposed U.S. tariffs and ongoing trade tensions between the U.S. and Colombia.

In March 2025, the U.S. government reinstated a 25% tariff on all steel imports and increased the aluminum tariff from 10% to 25% under Section 232 of the Trade Expansion Act, eliminating prior exemptions and expanding coverage to derivative products. Subsequently, in June 2025, these tariffs were doubled to 50% ad valorem. These measures significantly impacted our cost structure during the initial months of implementation. In response, we shifted a portion of our aluminum sourcing to U.S. suppliers to reduce exposure to the tariff and, consistent with broader market dynamics, adjusted our selling prices to partially offset the increased cost burden.

On April 2, 2025, President Donald Trump declared a shift in U.S. trade policy, announcing “Tariff Liberation Day.” As part of this initiative, a universal 10% tariff was imposed on imports from all countries, including Colombia, effective April 5, 2025. Additionally, a second tier of higher “reciprocal” tariffs targeting countries deemed to have unfair trade practices was declared to go into effect on April 9, 2025. While Colombia was not explicitly named among those subject to elevated tariffs, the inclusion of Colombian exports under the universal tariff lead to increased uncertainty and cost pressures on our operations. As of June 30, 2025, the 10% universal tariff remains in effect.

Although no “reciprocal” tariff initiative against Colombia is active as of the date of this report, this new tariff regime underscores the unpredictability of U.S. trade policy and its potential impact on companies with international manufacturing operations. Given that our manufacturing is based in Colombia and 96% of our sales for the fiscal year ended December 31, 2024, occurred in the United States, the imposition of even baseline tariffs could materially impact our production costs, supply chain efficiency, and price competitiveness.

Continued trade volatility or further adverse policy developments could disrupt our operations, compress margins, or reduce demand from our U.S. customer base, any of which could have a material adverse effect on our business and financial results.