Martin Marietta Materials : 2021 Investor Day Presentation

Statement Regarding Safe Harbor for Forward-Looking Statements

This presentation may contain forward-looking statements - that is, information related to future, not past, events. Like other businesses, Martin Marietta (the Company) is subject to risks and uncertainties which could cause its actual results to differ materially from its projections or that could cause forward-looking statements to prove incorrect, including the risks and uncertainties discussed in Martin Marietta's most recent Annual

Report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission (SEC) and are readily accessible on the SEC's website and the Company's website. Except as legally required, Martin Marietta undertakes no obligation to publicly update or revise any forward-looking statements, whether resulting from new information, future developments or otherwise.

Non-GAAP Financial Measures

This presentation contains certain financial measures presented on a non-GAAP basis which are defined in the Appendix. These non-GAAP financial measures are not in accordance with, nor are they a substitute for, GAAP measures. Reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the Appendix. Management believes these non-GAAP measures are commonly used financial measures for investors to evaluate the

Company's operating performance, and when read in conjunction with the Company's consolidated financial statements, present a useful tool to evaluate the Company's ongoing operations, performance from period to period and anticipated performance. In addition, these are some of the factors the Company used in internal evaluation of the overall performance of its businesses.

Management acknowledges there are many items that impact a company's reported results and the adjustments reflected in these non-GAAP measures are not intended to present all items that may have impacted these results. In addition, these non-GAAP measures are not necessarily comparable to similarly titled measures used by other companies.

BUILDING ON A SUSTAINABLE FOUNDATION

UNIQUELY POSITIONED AGGREGATES-LED GROWTH PLATFORM

UPSTREAM BUILDING MATERIALS

TARGETED DOWNSTREAM PRODUCTS

MAGNESIA SPECIALTIES

Aggregates	Strategic Cement
#1 or #2 in 90% of markets 90 years of reserves based on 2020 production levels	Largest producer in Texas with 2 plants 4.5MM tons combined annual capacity 30% of total tons consumed internally

Ready-Mixed Concrete	Asphalt & Paving
Leading positions along Colorado Front Range and Texas Triangle 8.4MM cubic yards annual production Consumer of high-margin upstream materials	Premier A&P business along Colorado Front Range 70% of asphalt tons used internally for paving Consumer of high-margin upstream materials

Specialty Chemicals and Dolomitic Lime

Largest dolomitic lime operation in North America

300K tons

annual chemicals

production capacity

30+ countries chemicals sales

VALUE PROPOSITION OF BUILDING MATERIALS SUPPLY CHAIN

UPSTREAM MATERIALS

DOWNSTREAM PRODUCTSASPHALT

• • Key aggregates distribution channel (95% by weight)

• • End market resiliency

  READY MIXED

  CONCRETE

• • Key aggregates and cement distribution channel (80% by weight)

• • Selective market entry

• • Resilient product

ATTRACTIVE GEOGRAPHIC FOOTPRINT ACROSS U.S. MEGAREGIONS

Cascadia Northern California Front Range Great LakesNortheastSouthern CaliforniaArizona SunCorridor TexasPiedmontAtlantic Triangle Martin Marietta LocationsFlorida Gulf Coast

Majority of the nation's population and economic growth through 2050 will occur in 11 megaregions*

Source: America 2050

*Defined as large networks of metropolitan population centers covering thousands of square miles

OUR SUSTAINABLE GROWTH AND PERFORMANCE ARE UNDERSCORED BY SOAR

Strategic Operating Analysis and Review

Safe	Environmental	Employee	Community	Platform for	Commercial and	Capital
Operations	Stewardship	Well-Being	Well-Being	Growth	Operational	Allocation
Excellence

COMMITTED TO A WORLD-CLASS SAFETY CULTURE

WE CONTINUE TO PROVE THAT ZERO IS POSSIBLE

99.8%

of employees experienced ZERO lost-time incidents

98.9%

of employees experienced ZERO incidents

79

business units have worked more than 500,000 hours with ZERO lost-time injuries

Companywide, we achieved a world-class lost-time incident rate (LTIR) 1 for the fourth consecutive year

World-Class Safety Level

(0.20)

Note: Safety data current as of 12/31/20

LTIR rate per 200,000 man hours worked. World-class levels based on general industries.

OPERATING IN AN ENVIRONMENTALLY RESPONSIBLE MANNER

Aggregates-led business yields small direct greenhouse gas emissions (GHG) footprint

2030 GHG REDUCTION GOALS

15%

10%

in Scope 1 CO2e emissions from cement operations

in Scope 1 CO2e emissions from Magnesia Specialties businesses

DRIVING REDUCTION GOALS

RESPONSIBLY USING NATURAL RESOURCES

ALTERNATIVE	OPERATIONAL	PRODUCTION	WATER AND WASTE
FUELS	UPGRADES	INNOVATION	MANAGEMENT

BIODIVERSITY

SUPPORTING AND INVESTING IN OUR PEOPLE

Note: Photographs taken prior to COVID-19-related enhanced safety and health protocols.

ROBUST CORPORATE GOVERNANCE AND OVERSIGHT BY BOARD OF DIRECTORS

DISCIPLINED EXECUTION OF A PROVEN STRATEGY

Best-in-class growth1

TOTAL REVENUES

ADJUSTED EBITDA

TOTAL SHAREHOLDER RETURNS

• 1. Growth % are for the period from 12/31/2005 through 12/31/2020.

• 2. 2020 Adjusted EBITDA includes $70MM in gains on nonoperational land and asset sales.

Source: Public company filings for fiscal years ending 12/31/2005 and 12/31/2020 and FactSet market data.

DISCIPLINED EXECUTION OF A PROVEN STRATEGY

Consistently outperformed S&P 500 and heavyside building materials companies

TOTAL SHAREHOLDER RETURNS

351%

311% S&P 500

167%

International

-13% Heavyside Building

Materials Companies

Note: Time period is representative of FY 2005 (Peak Volume) to FY 2020. Source: FactSet market data. Note: International peer set includes CEMEX, CRH, HeidelbergCement, and LafargeHolcim.

13

OUR DIFFERENTIATED BUSINESS MODEL PROVIDES A SUSTAINABLE FOUNDATION FOR GROWTH

1. CAGR - Compound Annual Growth Rate.

AGGREGATES-LED COMPANY, FIRST AND FOREMOST

VALUE DRIVERS

AVERAGE SELLING PRICE PER TON

CASH GROSS PROFIT PER TON

Secular pricing and per unit profitability growth through cycles

1. Peak-to-trough timeframe represents peak Martin Marietta aggregates shipments in 2005 and Great Recession industry trough in 2011.

STRATEGIC CEMENT

VALUE DRIVERS

AVERAGE SELLING PRICE PER TON

PRODUCT GROSS PROFIT ($MM)

4.5% pricing CAGR since 2013, similar to what you would expect in an aggregates business

1. Represents year prior to Martin Marietta ownership of Texas cement assets.

COMPLEMENTARY MAGNESIA SPECIALTIES BUSINESS

VALUE DRIVERS

PRODUCT GROSS PROFIT AND MARGIN

Sustainable profitability moderates heavyside earnings cyclicality

SOAR EXECUTION PROVIDES A SUSTAINABLE FUTURE FOR GENERATIONS TO COME

SOAR HAS SIGNIFICANTLY TRANSFORMED OUR BUSINESS

Responsible and sustainable market expansion through M&A; committed to investment-grade credit rating

4.2X MARKET CAP GROWTH SINCE ORIGINAL SOAR LAUNCH

$4.2B $8.8B $17.7B (12-31-10) (12-31-15) (12-31-20)
Total Revenues $1.8B $4.7B	2.7x Growth 3.7x
Adjusted EBITDA $377MM $1.4B

20

DISCIPLINED STRATEGIC PLANNING AND EXECUTION

EXECUTIVE LEADERSHIP

STRATEGY & DEVELOPMENT

M&A Target Identification	Organic Growth	Portfolio	Market	Local Demand	SWOT
and Prioritization	Opportunities	Optimization	Dynamics	Drivers	Analysis

DIVISION LEADERSHIP

LOCAL OPERATING TEAMS

IDENTIFIED ACTIONABLE STRATEGIC PRIORITIES OVER THE NEXT FIVE YEARS

PORTFOLIO

ORGANIC GROWTH

OPTIMIZATION

CAPACITY EXPANSION AT KEY UPSTREAM MATERIALS OPERATIONS IN DALLAS/FORT WORTH

BRIDGEPORT / CHICO AGGREGATES QUARRIESMIDLOTHIAN CEMENT PLANT FINISH MILL 7

+ 3.5MM TONS OF CAPACITY

+ 0.5MM TONS OF HIGH-UNIT-MARGIN CAPACITY

CONSISTENT PRICING POWER UNDERSCORES THE AGGREGATES INVESTMENT THESIS

Consistent pricing growth through economic cycles

4.5% PRICING CAGR

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Aggregates ShipmentsAggregates Average Selling Price

Note: 2020 shipments includes 40MM tons from operations acquired since original SOAR launch in 2010. Excluding acquired tons, 2020 shipments remain 28% below 2005 prior-peak levels.

24

COMMERCIAL EXCELLENCE THROUGH AGILE LOCALLY-DRIVEN PRICING STRATEGY

LOCALLY-EXECUTED STRATEGY DRIVES SUSTAINABLE AND ACHIEVABLE AGGREGATES PRICING UPSIDE

1. For illustrative purposes only. Represents pricing upside assuming $18.50 ASP achieved across all aggregates operations.

AVERAGE SELLING PRICE (ASP)

COMMITTED TO OPERATIONAL EXCELLENCE

PERFORMANCE IMPROVEMENT

SUPPLY CHAIN MANAGEMENT

WE ARE A CLEAR LOW-COST PRODUCER

AGGREGATES COST OF SALES PER TON

CONSOLIDATED SG&A AS % OF TOTAL REVENUES

Note: Aggregates Cost of Sales Per Ton defined as Aggregates Average Selling Price less Aggregates Gross Profit per Ton.

PRICING DISCIPLINE AND OPERATIONAL EXCELLENCE DRIVE SUSTAINABLE AND INDUSTRY-LEADING UNIT PROFITABILITY GROWTH

AGGREGATES GROSS PROFIT PER TON

2025 STRATEGIC FOCUS

Best-in-class unit profitability growth enhanced by M&A opportunities

M&A REMAINS OUR PREFERRED STRATEGY FOR GROWTH

M&A

Day 1 cash flows

Synergy potential

Limited regulatory risk in targeted new markets

Significant bolt-on and platform acquisition opportunities available

Disciplined management team with notable transaction execution experience

GREENFIELD

Significant upfront capital investment for uncertain future cash flows (generally a lower-return exercise)

Increasingly difficult and lengthy permitting process

Inherent local community risks by introducing a new industrial facility

CONSOLIDATION ALLOWS FOR SIGNIFICANT UNIT PROFITABILITY GROWTH VS. GREENFIELD DEVELOPMENT

Day 0

Year 1

Year 2

Note: For illustrative purposes. Acquisition case based on historical Martin Marietta Texas-based aggregates acquisition. Disclaimer: Timelines could be shorter or longer depending on region and specific circumstances of proposed facility.

Year 3

Year 4

Year 5

Year 6

Year 7

DISCIPLINED VALUE OVER VOLUME STRATEGY IN TARGETED NEW MARKETS

AGGREGATES AVERAGE SELLING PRICE

AGGREGATES GROSS PROFIT PER TON

Note: For illustrative purposes. Based on historical Martin Marietta aggregates acquisition.

WHAT MAKES A MARKET ATTRACTIVE?

WHERE ARE WE LOOKING?

Viable, executable acquisition targets present unmatched growth opportunities

BOLT-ONS

PLATFORM EXPANSION

BALANCED APPROACH TO LONG-STANDING CAPITAL ALLOCATION PRIORITIES

FIREPOWER TO SUCCESSFULLY MAINTAIN A RESPONSIBLE

LEADING ROLE IN OUR INDUSTRY'S EVOLUTION

$4.8B+

FINANCIAL STRENGTH AND FLEXIBILITY

INVESTED IN ACQUISITIONS since original SOAR launch

1.9x Leverage Ratio $2.5 - $3.0 BILLION Additional Leverage Capacity and Still Retain Investment-Grade Rating

NO DEBT MATURITIES UNTIL 2024 Full availability under our A/R and Revolving Credit Facilities $400M $125M 2021 2022 2023 2024 2025 2026 Undrawn Revolving Credit Availability

PRUDENTLY REINVESTING INTO THE BUSINESS

ANNUAL CAPITAL SPEND

ENHANCING SHAREHOLDER VALUE

$2.1 billion returned to shareholders since initial SOAR launch

DIVIDENDS

SHARE REPURCHASES

RESPONSIBLY GROWING OUR BUSINESS FOR LONG-TERM SUCCESS

ORGANIC GROWTH

AGGREGATESCEMENTMix-adjusted ASP

CAGR of 4%Maintain and improve industry-leading aggregates cost per ton

• • Operational improvements

• • Supply chain management

TOPLINEGrowth

Capital InvestmentsCommercial Excellence

BOTTOMLINEOperational Excellence

2020

DRIVE PROFITABLE MATERIALS GROWTH WHILE MAXIMIZING SHAREHOLDER VALUE

PORTFOLIO OPTIMIZATION

2025

BRIGHT PROSPECTS FOR SUSTAINABLE LONG-TERM DEMAND

EMERGING DEMAND TRENDS NOT SEEN IN OVER A DECADE

INFRASTRUCTURE

NONRESIDENTIAL

RESIDENTIAL

PublicFunding

Private / Public Funding

PrivateFunding

Federal

State

Retail, commercial and heavy industrial

Schools, healthcare and municipal facilities

Single-family and multi-family development

Stable Demand

Cyclical Demand

INFRASTRUCTURE PROVIDES STABLE BASE LEVEL FOR AGGREGATES SHIPMENTS

FEDERAL

CURRENT: The continuing resolution of the Fixing America's

Surface Transportation Act (FAST Act) maintains current funding levels through September 2021

FUTURE: Bipartisan support for new surface transportation legislation at increased funding levels not seen in over 15 years

STATE

Source: The American Association of State Highway and Transportation Officials (AASHTO) and American Road & Transportation Builders Association (ARTBA).

WHAT DRIVES PRIVATE-SECTOR AGGREGATES DEMAND?

LEADING INDICATORS WITH A STRONGRELATIONSHIP TO AGGREGATES DEMAND

DRAG-ALONG EFFECT

Note: Correlation data from 2000-2019 on a one year lag basis.

Source: U.S. Census Bureau and Dodge Data and Analytics.

SINGLE-FAMILY DEVELOPMENT IS 2X TO 3X MORE AGGREGATES INTENSIVE

"Drag-along effects" of community buildout

NONRESIDENTIAL CONSTRUCTION TO BENEFIT FROM DRAG-ALONG EFFECT

Correlation between nonresidential square footage and single-family starts

93%

12 to 18 month lag between single-family and nonresidential square footage peak

26% below peak

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

Single-Family Starts (000s)Nonresidential Sqft (BNs)

Source: U.S. Census Bureau, USGS and Dodge Data and Analytics.

NONRESIDENTIAL ACTIVITY VARIES BY SECTOR

High impact

Low impactMinimal impact beyond 2021

Length / Duration

Impact beyond 2021

ACCELERATING E-COMMERCE AND REMOTE WORK TRENDS REQUIRE INCREASED INVESTMENT

Source: Dodge Data and Analytics.

5 AMAZON WAREHOUSES

SAN ANTONIO, TX

5MM Sqft

FACEBOOK DATA CENTER

DES MOINES, IA

+3MM Sqft

Warehouses and data centers consume significantly more aggregates than retail and light commercial projects

SCOPE AND SCALE, NOT DOLLAR VALUE, DRIVE DEMAND

TOTAL NONRESIDENTIAL AND RESIDENTIAL SQUARE FOOTAGE

Source: Dodge Data and Analytics Q1 2021 Sneak Peek.

EMERGING DEMAND TRENDS NOT SEEN IN OVER A DECADE

INFRASTRUCTURE

NONRESIDENTIAL

RESIDENTIAL

PublicFunding

Private / Public Funding

PrivateFunding

Federal

State

Retail, commercial and heavy industrial

Schools, healthcare and municipal facilities

Single-family and multi-family development

Stable Demand

Cyclical Demand

CONCLUDING REMARKS

A SUSTAINABLE FOUNDATION

Aggregates-led growth platform

Attractive geographies

Sustainable practices

Best-in-class teams

Right strategic priorities

DISCIPLINED EXECUTION OF A PROVEN STRATEGY

ORGANIC GROWTH

INORGANIC GROWTH

• • Balance sheet flexibility

• • Regulatory expertise and capability

• • Track record of successful integration and synergy realization

• • Unmatched white space

CYCLICAL DEMAND

• • Single-family housing- led recovery

• • Ancillary infrastructure and nonresidential buildout

INFRASTRUCTURE RECOVERY

• • Comprehensive Federal surface transportation legislation

• • State-led transportation investment initiatives

WELL-POSITIONED TO REPEAT PRIOR CYCLE SUCCESS

(MM, except ratio)

4.2X

2010 Market cap growth since original SOAR launch

2020

• 1. Inclusive of +40MM tons from operations acquired since 2010.

• 2. Includes $70MM in gains on nonoperational land and asset sales.

SOAR TO A SUSTAINABLE FUTURE FOR THE NEXT GENERATION

$4.2B

MARKET CAP

(12-31-10)

$8.8B

MARKET CAP

(12-31-15)

$17.7B

MARKET CAP

(12-31-20)

APPENDIX

ADJUSTED EBITDA

$ IN MILLIONS

2005	2010	2020
Net earnings attributable to Martin Marietta	$193	$97	$721
Add back:
Interest expense, net of interest income	42	68	118
Income tax expense for controlling interests	71	29	168
Depreciation, depletion and amortization expense and noncash earnings/loss from nonconsolidated equity affiliates	136	183	386
Adjusted EBITDA	$442	$377	$1,393

Earnings before interest; income taxes;

depreciation, depletion and amortization

expense; and the earnings/loss from

nonconsolidated equity affiliates (Adjusted

EBITDA) is an indicator used by the Company and

investors to evaluate the Company's operating

performance from period to period.

Adjusted EBITDA is not defined by generally

accepted accounting principles and, as such,

should not be construed as an alternative to

earnings from operations, net earnings or

operating cash flow.

56

AGGREGATES CASH GROSS PROFIT

$ IN MILLIONS, EXCEPT PER TON

2005	2011	2020
Aggregates product gross profit	$386	$227	$849
Depreciation, depletion and amortization expense	118	153	255
Aggregates cash gross profit	$504	$380	$1,104
Aggregates shipments	204	126	186
Aggregates gross profit per ton	$1.89	$1.80	$4.56
Aggregates cash gross profit per ton	$2.47	$3.02	$5.92

Cash gross profit adds back noncash charges

for depreciation, depletion, and amortization to

gross profit.

Cash gross profit is not defined by generally

accepted accounting principles and, as such,

should not be construed as an alternative to

gross profit or other earnings or cash flow

measures defined by GAAP.

Aggregates cash gross profit per ton is computed

by dividing aggregates cash gross profit by tons

shipped.

57

LEVERAGE RATIO

$ IN MILLIONS

2010	2020
Net earnings attributable to Martin Marietta	$97	$721
Add back:
Interest expense, net of interest income	69	118
Income tax expense for controlling interests	29	168
Depreciation, depletion and amortization expense and noncash earnings/loss from nonconsolidated equity affiliates	182	386
Adjusted EBITDA	$377	$1,393
Consolidated debt at December 31	$1,031	$2,626
Leverage ratio	2.7X	1.9X

Leverage ratio, or consolidated debt to

consolidated Adjusted EBITDA, is a non-

GAAP measure.

Management uses this ratio to assess its

capacity for additional borrowings. The

calculation is not intended to be a substitute

for the Company's leverage covenant under

its credit facility.

58