Page 3 - Martin Marietta - 2025 Proxy Statement

April 15, 2025

Dear Shareholders:

It is my pleasure to invite you to attend Martin Marietta’s 2025 Annual Meeting of
Shareholders on Thursday, May 15, 2025. This document provides some of the
highlights of our key actions and important decisions in 2024, as well as information
about our financial and other performance. Please review this Proxy Statement and the
2024 Annual Report for more information about these topics.

Martin Marietta Achieves Safest Year on Record
I am proud to report that, once again, Martin Marietta achieved its safest year in our
history. We had a world-class lost time incident rate (LTIR) for the eighth consecutive year
(0.129 in 2024) and a world-class total injury incident rate (TIIR) for the fourth consecutive
year (0.650 in 2024). Moreover, our fidelity to our Guardian Angel culture meant that
99.9% of our over 9,400 employees experienced ZERO lost-time incidents and 99.3% of
employees experienced zero reportable incidents. These results improve upon the prior
year’s performance which was also one of the best safety records in Martin Marietta’s
history, demonstrating our unwavering commitment to build and maintain the safest, best
performing and most durable aggregates-led business. Our commitment to being a great
employer and fostering a safe and productive workplace is evidenced by our Company’s
®
certification as a Great Place to Work following an extensive employee survey seeking
answers to a wide range of inquiries focused on teamwork, integrity, equality, pride and
respect.

Continued Delivery of Solid Financial Results
In 2024, Martin Marietta faced a series of well-chronicled, extreme weather events including significant precipitation
together with Tropical Storm Debby in North Carolina, Hurricane Beryl in Texas and Hurricane Helene across much of our
Southeast footprint. At the same time, we were navigating several challenging product demand dynamics including a
private construction slowdown. Despite these challenges, we remained focused on the long-term aspects of our business
that we can meaningfully impact: world-class safety, the consistent and disciplined execution of our Strategic Operating
Analysis and Review (SOAR) 2025 initiatives, and resolute adherence to our leading commercial strategy. We continued to
deliver solid financial results, underscoring the resiliency of our aggregates-led business strategically positioned in the
country’s fastest-growing markets. We achieved another year of double-digit organic aggregates unit profitability growth.
More specifically, the Company’s total gross profit per ton increased 9% and organic aggregates gross profit per ton was
up 13%. We increased our dividend approximately 7% in August 2024 (the Company’s ninth consecutive year of
increasing the dividend), and collectively with share repurchases, we returned $639 million to shareholders. Our cumulative
Total Shareholder Return (TSR) since the start of SOAR 2025 on January 1, 2021 is 87% as compared to the S&P 500’s TSR
of 66%. These significant accomplishments demonstrate that Martin Marietta has built an increasingly resilient, efficient
and cash flow generative business.

Most Active Year for M&A Creates an Optimized Portfolio
In 2024, we continued our disciplined adherence to and execution of our proven SOAR initiatives. Over the last four years,
Martin Marietta completed over $3 billion of non-core asset divestitures to partially fund approximately $7 billion of
aggregates-led acquisitions. Remarkably, 2024 surpassed 2021 as our most active M&A year ever, with nearly $4 billion of
acquisitions and over $2 billion of asset divestitures. Since our Texas Industries acquisition a little over a decade ago, to the
February 2024 divestiture of our South Texas cement business and related ready mixed concrete operations, and our
acquisition of multiple pure-play aggregates businesses in high growth regions of the United States, we have sought to
maximize the value of our business through a purposeful portfolio evolution. By using cyclical cement and ready mixed
concrete as consideration for pure aggregate assets, we have met a fourfold objective of: (i) creating a more durable
earnings profile; (ii) increasing the gross profit contribution from our core aggregates product line, (iii) expanding