Page 2 - Martin Marietta - 2021 Proxy Statement

April 13, 2021

Dear Fellow Shareholder:

On behalf of the Martin Marietta Board of Directors and executive officers, I am pleased to invite
you to attend Martin Marietta’s 2021 Annual Meeting of Shareholders. This document provides
some of the highlights of our key actions and important decisions in 2020 as well as information
about our financial performance. Please review this Proxy Statement and the 2020 Annual
Report for more information about these topics.
Our Continuing Response to COVID-19

In this same letter last year, published in April 2020 at the beginning of the coronavirus
(COVID-19) pandemic, I noted that our management and Board of Directors were actively
monitoring emerging developments, preparing for and responding to the challenges and
uncertainties posed by the pandemic, and proactively taking responsible steps across our
enterprise to keep our business, including our employees, customers, vendors, and other
stakeholders, safe and healthy. Throughout 2020 and as of the date of this letter, we have
remained open for business and continued to meet the needs of our communities. This includes
implementing enhanced facility and equipment cleaning, personal safety protocols, social
distancing, remote work (where possible), and other changes, all of which we believe are
consistent with the guidelines from the Centers for Disease Control and Prevention and the
physicians associated with our industrial hygienist group that are familiar with our operations.
We effectively established task forces related to COVID-19 planning and communications,
canceled all non-essential business travel, and established contingency plans with respect to
facility staffing.

Record 2020 Financial Performance
Despite the challenges posed by COVID-19, 2020 was another outstanding year of achievement at Martin Marietta. We
successfully managed as an essential business through the COVID-19 crisis with limited business disruption, achieving
consolidated total revenues of $4.7 billion, which was driven by steady pricing gains in all product lines. While shipments
were lower than the prior year due to headwinds from the global pandemic, we reported record financial results, including
an 11% increase in Adjusted EBITDA, an 18% increase in Diluted EPS, and a 290 basis point increase in Adjusted EBITDA
Margin from the prior year level. We increased our dividend 4% in August 2020 and returned $190.3 million to
shareholders in 2020; we have returned more than $1.8 billion to shareholders since announcing a 20 million share
repurchase authorization in February 2015.
Commitment to Sound Corporate Governance

We remained engaged with shareholders and other key stakeholders during 2020. In response to valuable feedback from
shareholders, we continued to enhance our disclosure regarding our activities, risks and opportunities regarding
sustainability and other environmental, social and governance issues, which is further addressed in the Sustainability
section in this letter below. Our investor outreach in 2020 extended to 88 meetings (mostly virtual) with 313 investment
groups in the United States, Canada, the United Kingdom, Germany, Switzerland, the Netherlands, and France, including
most of our top 30 shareholders.

Over the past five years, we have added seven new independent directors. Most recently, Anthony R. Foxx, who served as
the United States Secretary of Transportation and Mayor of Charlotte, North Carolina, joined the Board in November 2020,
and David C. Wajsgras, who served as president of the Intelligence, Information and Services business of the former
Raytheon Company, as well as its CFO, joined the Board in May 2020. We are delighted to have both Anthony and Dave,
who each bring strong backgrounds and experience with publicly-traded companies and add unique insights into our
Board mix. We also recognize the importance of diversity in our business and leadership, including on our Board. Our
Board nominees demonstrate diversity in the form of gender, ethnicity, age and tenure, geography, and experience. Of
note, women and ethnic minorities currently represent 45 percent of our Board.