Monarch Cement : 2022 Proxy

March 14, 2022

Dear Stockholder:

The annual meeting of stockholders of The Monarch Cement Company will be held in the H.F.G. Wulf Conference Center at our Company's corporate offices located at

449 1200 Street, Humboldt, Kansas, on Wednesday, April 13, 2022, commencing at 1:00 p.m., local time. The business to be conducted at the meeting is described in the accompanying notice of annual meeting and proxy statement. With the exception of the election of four Class III directors, there is not expected to be any other business to be acted upon at the annual meeting.

In light of the continuing public health impact of the coronavirus (COVID-19) and to help guard against its spread, stockholders are discouraged from attending this year's annual meeting in person. Instead, Monarch strongly urges stockholders to complete, sign and return the enclosed proxy as soon as possible in advance of the annual meeting so that their votes may be cast without need to attend the meeting in person. It is anticipated that only a small contingent of officers will be present at the annual meeting to carry out the routine legal requirements of the meeting, and a designated proxy representative will be present to cast ballots in accordance with submitted proxy votes. We encourage all others not to attend this year's annual meeting in person to help mitigate the health and safety risks and promote the health and well-being of our stockholders, employees, and others in our community.

Like last year, we are providing an opportunity for you to listen to a live audio broadcast of our annual meeting by following the instructions provided in the accompanying notice of annual meeting (and also found on our website, www.monarchcement.com/investors). Listening to the audio broadcast will not, however, be deemed attendance at the annual meeting and you will not be able to vote at the annual meeting by means of the audio broadcast. Instead, you will need to give your proxy to vote at the annual meeting by following the specific voting instructions appearing on the enclosed proxy card. We encourage you to take advantage of the opportunity to give your proxy and listen to the audio broadcast of the annual meeting.

Finally, if we determine that any other changes to our 2022 annual meeting of stockholders are necessary or appropriate, we will announce the changes in advance. Please monitor our website at www.monarchcement.com/investorsfor updated information.

We appreciate your vote, and your continued interest in and support of our Company.

Sincerely,

/s/ Tony Kasten Tony Kasten, CPA Secretary-Treasurer

March 14, 2022

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD ON APRIL 13, 2022

The annual meeting of stockholders of The Monarch Cement Company, a Kansas corporation, will be held in the H.F.G. Wulf Conference Center at our Company's corporate offices located at 449 1200 Street, Humboldt, Kansas, on Wednesday, April 13, 2022, commencing at 1:00 p.m., local time, and thereafter as it may from time to time be adjourned, for the following purposes:

1. To elect four Class III Directors to hold office for a term expiring at our 2025 annual meeting of stockholders and until their respective successors are duly elected and qualified or until their respective earlier resignation or removal; and
2. To consider and act upon any other matters that properly may come before the meeting.

The proposals referred to above are more fully described in the accompanying proxy statement. Our annual report to stockholders for 2021, which contains our audited financial statements, also accompanies this notice of annual meeting and proxy statement.

Our Board of Directors has fixed the close of business on February 15, 2022 as the record date for the determination of the stockholders entitled to notice of, and to vote at, the annual meeting. We solicit you to give your proxy to vote at the annual meeting by following the specific voting instructions appearing on the enclosed proxy.

By Order of the Board of Directors

/s/ Tony Kasten Tony Kasten, CPA Secretary-Treasurer

_________________________________________________________________________________

YOUR VOTE IS IMPORTANT. PLEASE FOLLOW THE SPECIFIC VOTING INSTRUCTIONS APPEARING ON THE ENCLOSED PROXY AND RETURN IT AS PROMPTLY AS POSSIBLE IN ORDER TO ENSURE YOUR REPRESENTATION AT THE MEETING.

We encourage you to review all the important information contained in the proxy materials before voting.

See Reverse for Special Note Regarding Changes to our Annual Meeting

Special Note Regarding Changes to our Annual Meeting due to the Coronavirus Pandemic

In light of the continuing public health impact of the coronavirus (COVID-19) and to help guard against its spread, you may listen to a live audio broadcast of our annual meeting, without attending in person, by following the instructions provided below (and also found on our website, www.monarchcement.com/investors). Listening to the audio broadcast will not, however, be deemed attendance at the annual meeting and you will not be able to vote at the annual meeting by means of the audio broadcast. Instead, you will need to give your proxy to vote at the annual meeting by following the specific voting instructions appearing on the enclosed proxy card. For the health and well-being of our stockholders, employees, and others in our community, we encourage you to take advantage of the opportunity to give your proxy and listen to the audio broadcast of the annual meeting. You may listen to the audio broadcast through the following means:

Webcast. You may listen to the annual meeting by webcast via the following link:

Join Zoom Meeting https://us06web.zoom.us/j/82183808679?pwd=QnNkT1N0UmFoOXBadk1rWlA5SGdZdz09

Meeting ID: 821 8380 8679

Passcode: 724139 One tap mobile [phone],,82183808679#,,,,*724139# US (Tacoma) [phone],,82183808679#,,,,*724139# US (Houston)

Teleconference. You may listen to the annual meeting by teleconference via your phone:

Dial by your location

[phone] US (Tacoma)

[phone] US (Houston)

[phone] US (Denver)

[phone] US (Washington DC)

[phone] US (Chicago)

[phone] US (New York) Meeting ID: 821 8380 8679 Passcode: 724139

Find your local number:https://us06web.zoom.us/u/kpbfMAq6b

We will continue to monitor developments relating to the coronavirus (COVID-19) pandemic and how they may affect the annual meeting of stockholders. If we determine that any changes to the annual meeting are necessary or appropriate, which may include changing the date and time of the meeting, implementing additional procedures for or limitations on meeting attendees or changing the meeting location, we will announce the changes in advance. Please monitor our website at www.monarchcement.com/investorsfor updated information.

The Monarch Cement Company

449 1200 Street

Humboldt, Kansas 66748

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PROXY STATEMENT

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ANNUAL MEETING OF STOCKHOLDERS

TO BE HELD APRIL 13, 2022

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QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND THE ANNUAL MEETING

Although we encourage you to read this proxy statement in its entirety, we include this question-and-answer section to provide some background information and brief answers to several questions you might have about the annual meeting.

Why am I receiving these materials?

The Board of Directors of The Monarch Cement Company is providing these materials to you in connection with our annual meeting of stockholders on April 13, 2022. The information included in this proxy statement relates to the proposals to be voted on at the annual meeting, the voting process, and certain other required information. This proxy statement, the notice of annual meeting of stockholders and the accompanying proxy were first sent or given to our stockholders on or about March 14, 2022. As a stockholder of our Company, you are entitled and encouraged to vote on the items of business described in these proxy materials. Your vote is very important. For this reason, our Board is requesting that you allow your shares to be represented at the annual meeting by the persons named as proxies on the enclosed proxy.

When and where will the annual meeting be held?

The annual meeting of stockholders will be held on Wednesday, April 13, 2022, commencing at 1:00 p.m., local time, in the H.F.G. Wulf Conference Center at our Company's corporate offices located at 449 1200 Street, Humboldt, Kansas. You may obtain directions to the location of the annual meeting by calling us at [phone]. You do not have to attend the annual meeting to be able to vote.

What matters will be voted on at the annual meeting?

Stockholders will consider and vote upon the election of four Class III Directors to hold office for a term expiring at our 2025 annual meeting of stockholders and until their respective successors are duly elected and qualified or until their respective earlier resignation or removal.

We are not aware of any business to be acted upon at the annual meeting other than the items described in this proxy statement. Your signed proxy, however, will entitle the persons named as proxy holders to vote in their discretion for any other matter that is properly presented at the meeting.

How does our Board of Directors recommend that I vote?

Our Board of Directors recommends that you vote "FOR" the election of each nominee for director named in this proxy statement.

What shares can I vote?

The only outstanding voting securities of our Company are the shares of our Capital Stock, $2.50 par value, and our Class B Capital Stock, $2.50 par value. As of the February 15, 2022 record date for the annual meeting, 2,625,160 shares of our Capital Stock and 1,136,799 shares of our Class B Capital Stock were issued and outstanding. Each issued and outstanding share of our Capital Stock as of the close of business on the record date is entitled to one vote on each matter submitted to a vote at the annual meeting, and each issued and outstanding share of our Class B Capital Stock as of the close of business on the record date is entitled to ten votes on each matter submitted to a vote at the annual meeting. All outstanding shares of our

Capital Stock and Class B Capital Stock as of the close of business on the record date are entitled to vote as a single class on all proposals submitted to a vote at the annual meeting.

You may vote all shares of our Capital Stock and Class B Capital Stock that you held as of the record date. This includes (i) shares held directly in your name as the stockholder of record, and (ii) shares held for you as the beneficial owner through a broker, trustee or other nominee, sometimes referred to as shares held in "street name".

How do I submit my vote?

You may vote your shares by completing, signing and returning the proxy provided to you, or by attending the annual meeting and voting in person. If you wish to vote your shares by proxy, we must receive your completed and signed proxy prior to the annual meeting (voting instructions provided by your proxy will not be considered if your proxy is delivered to us after that time). Specific voting instructions are found on the proxy provided to you.

Shares held by the stockholder of record. If your shares are registered directly in your name in our transfer agent records, you are considered the stockholder of record, and these proxy materials were sent to you directly. As the stockholder of record, you have the right to grant your proxy vote directly or to vote in person at the annual meeting. We have enclosed a proxy for you to use. If you choose to vote by proxy, we must receive your proxy vote prior to the annual meeting in order for it to be counted.

Shares held in street name. If you hold shares in a brokerage account or through some other nominee, you are considered the beneficial owner of shares held in street name, and these proxy materials are being forwarded to you by your broker, trustee or other nominee. As the beneficial owner, you have the right to direct your broker, trustee or nominee how to vote your shares by following the instructions they provide to you. Although you may attend the annual meeting, you may not vote these shares in person at the meeting unless you obtain a "legal proxy" from your broker, trustee or nominee. We may require a recent brokerage statement or other proof of ownership for admission to the meeting. You may vote your shares by following the instructions provided to you by your broker, trustee or other nominee, including those concerning the deadline for you to provide your voting direction. If you choose to instruct your broker, trustee or other nominee how to vote your shares, you must provide such instructions prior to that deadline in order for your shares to be voted.

Can I change my proxy vote or revoke my proxy?

If you are a stockholder of record, you may change your vote or revoke your proxy any time before your vote is used at the annual meeting by:

• submitting a valid, later-dated proxy;
• notifying our corporate secretary in writing that you have revoked your proxy; or
• completing a written ballot at the annual meeting.

Attendance at the annual meeting will not in and of itself constitute a revocation of your proxy.

If you hold shares as the beneficial owner in street name, you may change your vote by timely submitting new voting instructions to your broker, trustee or other nominee or, if you have obtained a legal proxy from your broker, trustee or nominee, by voting in person at the annual meeting.

How many votes are needed to conduct business at the annual meeting?

A majority of votes represented by the holders of our Capital Stock and Class B Capital Stock entitled to vote at the annual meeting, treated as a single class, must be present or represented by proxy in order to satisfy the quorum requirement for the transaction of business at the annual meeting. Both abstentions and broker non-votes (described below under "What is the effect of a broker non-vote?") are counted as present and entitled to vote for purposes of determining a quorum. If a quorum should not be present, the annual meeting may be adjourned from time to time until a quorum is obtained.

How are votes counted?

If you are a stockholder of record and you give your proxy, the shares represented by the proxy will be voted in accordance with your instructions. However, if you are a stockholder of record and you give your proxy without providing

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