Page 2 - Martin Marietta - 2022 Proxy Statement

April 13, 2022

Dear Fellow Shareholders:

It is my pleasure to invite you to attend Martin Marietta’s 2022 Annual Meeting of Shareholders.
This document provides some of the highlights of our key actions and important decisions in
2021 as well as information about our financial performance. Please review this Proxy Statement
and the 2021 Annual Report for more information about these topics.

Our Continuing Response to COVID-19
Since the beginning of the COVID-19 pandemic in 2020, we have remained open and operating
as an essential business with limited disruption. Throughout this time, our priorities have
remained ensuring the health and safety of our employees and their families, as well as
continuing to perform and meet the needs of our customers and communities. We have
accomplished this by implementing robust protocols, including enhanced facility and equipment
cleaning, personal safety protocols, social distancing, remote work (where possible), and
establishing contingency plans where appropriate.

Record 2021 Financial Performance
We’re proud to report that in 2021 we delivered another year of strong financial results marking
ten years of consecutive growth for consolidated products and services revenues, adjusted gross
profit, Adjusted EBITDA and adjusted earnings per diluted share from continuing operations. We
achieved consolidated revenues from continuing operations of $5.4 billion, up 14.5% from
$4.7 billion in the prior year. We increased our dividend 7% in August 2021 (following a 4%
increase in 2020) and during the course of the year returned $148 million to shareholders. Our one-year Total Shareholder
Return (TSR) is 56% and three-year TSR is 163%. This performance is evidence of our careful strategic planning as well as
the hard work and outstanding execution by our talented team in supplying the resources and services our communities
need to thrive.

World-Class Safety Performance
With a company-wide Total Injury Incident Rate (TIIR) of 0.84 in 2021, the Company exceeded the world-class rate of 0.90
for the first time ever. We have also continued our strong safety record with a company-wide Lost Time Incident Rate
(LTIR) of 0.17, the fifth consecutive year of achieving world-class or better LTIR thresholds. Through the dedication,
commitment and focus of our employees, safety awareness has remained high across the Company; we are committed to
world-class safety performance.

Expansion of Footprint
We made tremendous progress in 2021 on our Strategic Operating Analysis and Review (SOAR) 2025 initiatives. Among
other things, we successfully completed $3.1 billion in value-enhancing acquisitions, thereby increasing our geographic
footprint to California and Arizona, as well as expanding our product offerings in other attractive high-growth markets.
Importantly, transaction integration is a core competency at Martin Marietta and, as such, we have made great progress in
assimilating these new operations into our business and culture. These accomplishments are a testament to our team’s
commitment to Martin Marietta’s vision and strategic priorities while also further positioning our Company for continued
long-term success. Notably, even with our significant acquisitions in 2021, we have maintained our investment grade
credit rating while issuing $2.5 billion in debt to finance our 2021 transactions, finishing the year at 3.2x net leverage
ratio.

Commitment to Sustainability, Diversity and Inclusion
We remained engaged with shareholders and other key stakeholders during 2021. 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 (ESG) matters. Our investor outreach in 2021 extended to