Page 31 - Martin Marietta - 2024 Sustainability Report

COMPANY OVERVIEW

calls for greater market acceptance of alternative fuels usage and low-carbon cement blends, as well as increased
research and investment in CCS technologies. The PCA has been working closely with the Global Cement and Concrete
Association on continued work toward Net Zero.
• The U.S. Chamber of Commerce, which represents U.S. businesses across all sectors, has published “Our Approach to
Climate Change” which includes its support for U.S. participation in the Paris Agreement and acknowledges that our
climate is changing, that humans are contributing to these changes and that “inaction is not an option.” The Chamber
has pledged to support its members in developing, financing and implementing the technology and other solutions
needed in mitigating GHG emissions, increasing fuel efficiency and use of renewable fuels and investing in
commercially-viable technological solutions for lower-carbon infrastructure and CCS. To this end, in the fall of 2024 the
Chamber once again represented the U.S. private sector at the COP29 conference, working closely with business and
government allies from the U.S., and other countries around the world to convey the important role of business in
implementing climate solutions.

We also are closely monitoring relevant industry developments in key areas relating to climate change. For example, as
recognized by a number of international organizations (including the International Energy Agency) as well as various
industry associations, the cement sector’s ability to contribute to limiting atmospheric GHG levels in a manner consistent
with the goals of the Paris Agreement depends on successful future development and implementation of CCS and other
innovative technologies on a commercial scale. Similarly, acceptance of lower clinker content cements in the United States
by the federal Department of Transportation and ASTM will also be critical in allowing the cement sector to achieve
carbon neutrality across the value chain by 2050.

Oversight on Political Activities and Trade Associations

From a governance standpoint, our Finance Committee, which is comprised exclusively of independent directors, oversees
the Company’s political and lobbying expenditures and activities. This includes setting an annual cap of $250,000 (without
further approval from the Finance Committee) on total Company spending, as well as capping any individual Company
contribution at $25,000 annually, and ensuring that such spending is consistent with Martin Marietta’s business interests,
strategy and goals. All political expenditures are reviewed by our Chief Financial Officer after consultation with our General
Counsel’s office, and final authorization is required from the Chief Executive Officer or an authorized delegate. In addition,
our lobbying and political expenditures and any payments to trade associations and other tax-exempt organizations that may
be for political purposes are reviewed annually by management with the Finance Committee, which reports its review to the
full Board of Directors. The Finance Committee’s charter is available on our website.

All of Martin Marietta‘s employees, contractors and agents acting in the Company’s name are governed by our Political
and Advocacy Activities Policy and Procedures, which is available on our website and is a robust set of procedures that
applies to political and advocacy activities of Martin Marietta, our subsidiaries and our affiliates, including political
contributions to trade associations, political parties, campaigns and individual candidates, lobbying activities or gifts to
public officials or public employees. This policy provides that all political and advocacy activities, including contributions,
by Martin Marietta must comply with federal, state and local requirements associated with participating in the policy-
making and political process, as well as our Code of Ethical Business Conduct.

Our Code applies to all employees and directors of Martin Marietta. The Code explicitly acknowledges the “right of its
employees to support any candidate or political party” with their own time and money but states that no Martin Marietta
assets, funds or employee work time may be contributed to any political party, campaign or candidate without “the prior
approval of the Company’s Political Contribution Committee or Legal Department”, who review the requests for
compliance with applicable law and have final authority over our corporate political spending. The Code is available on
our website.

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