Page 3 - Martin Marietta - 2023 Proxy Statement

April 13, 2023

Dear Shareholders:

It is my pleasure to invite you to attend Martin Marietta’s 2023 Annual Meeting of
Shareholders on Thursday, May 11, 2023. This document provides some of the
highlights of our key actions and important decisions in 2022, as well as information
about our financial and other performance. Please review this Proxy Statement and the
2022 Annual Report for more information about these topics.
Record 2022 Financial Performance

In 2022 Martin Marietta delivered another year of strong financial results marking
eleven years of consecutive growth for consolidated products and services revenues,
gross profit and Adjusted EBITDA. We achieved product and services revenues from
continuing operations of $5.7 billion, up 13% from $5.1 billion in 2021. We increased
our dividend 8% in August 2022 (following a 7% increase in 2021) and during the year
returned $309 million to shareholders through a combination of meaningful and
sustainable dividends and share repurchases. Our five-year Total Shareholder Return
(TSR) is 59% and ten-year TSR is 295%. These significant accomplishments demonstrate
the continued success of our deliberate strategic planning process, our team’s
outstanding operational execution, and the long-term resiliency and earnings power of
our aggregates-led business.
Important Investments for Long-Term Success

Over recent years we have made tremendous progress on our Strategic Operating Analysis and Review (SOAR) 2025
initiatives. Since the launch of SOAR in 2010, the Company has invested nearly $8.0 billion in acquisitions, resulting in an
enviable coast-to-coast geographic footprint in which we enjoy leading positions in many of the nation’s most attractive
high-growth markets. In 2022, we also invested in our newly acquired West Coast operations with financial and
management resources that improved training, safety, equipment, and financial performance. We also divested our
Northern California cement facilities, our concrete operations in Southern California, Colorado and Central Texas, and
entered into an agreement to divest our Southern California cement facilities. These important portfolio-shaping
undertakings help position the Company for continued long-term success and are a testament to our team’s commitment
to Martin Marietta’s vision and strategic priorities.
Environmental, Social and Governance Priorities
We continued our relentless focus on world-class safety performance, delivering a company-wide Total Injury Incident Rate
(TIIR) of 0.78 in 2022, exceeding the world-class rate of 0.90 for the second consecutive year. Moreover, our fidelity to our
Guardian Angel culture meant that 99.8% of our over 9,000 employees experienced ZERO lost-time incidents. Our safety
performance sets the foundation for our long-term financial strength and successful SOAR execution. Martin Marietta’s
goal is ZERO incidents.

Our stakeholders are increasingly focused on environmental, social, and governance (ESG) matters. We recognize the
importance of building a resilient and sustainable company; our management’s engagement and the Board of Director’s
oversight of our sustainability efforts are focused on transparency, responsiveness and vision. Our senior management team and
I engage personally and continuously with our stakeholders to listen carefully and share thoughts regarding ESG; the important
feedback we receive on these issues helps inform our policies, practices and disclosures. Among other things, since 2022:
• We enhanced transparency of our diversity and inclusion progress by publishing our EEO-1 report data.
• We joined the CEO Pledge for Diversity & Inclusion supporting a trusting environment where all ideas are welcomed and
employees comfortable and empowered to have discussions about diversity and inclusion.
• We launched a dedicated section on our Company’s website highlighting Inclusion, Engagement and Diversity at Martin
Marietta and elevated the Head of Inclusion and Engagement to a vice president level position. Our Head of Inclusion