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* All information provided in these slides is qualified in its entirety by reference to the Company's filings with the Securities and Exchange Commission (SEC), which are available on both the Company’s and the SEC’s websites. Q3 2025 SUPPLEMENTAL INFORMATION* November 4, 2025
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Q3 2025 Supplemental Information 2 Statement Regarding Safe Harbor for Forward-Looking Statements Investors are cautioned that all statements herein that relate to the future involve risks and uncertainties and are based on assumptions that the Company believes in good faith are reasonable but which may be materially different from actual results. These statements, which are forward-looking statements under the Private Securities Litigation Reform Act of 1995, provide the investor with the Company’s expectations or forecasts of future events. You can identify these statements by the fact that they do not relate only to historical or current facts. They may use words such as “guidance”, “anticipate”, “may”, “expect”, “should”, “believe”, “will”, and other words of similar meaning in connection with future events or future operating or financial performance. Any or all of the Company’s forward-looking statements here and in other publications may turn out to be wrong. Non-GAAP Financial Measures This material contains financial measures that are not prepared in accordance with United States generally accepted accounting principles (GAAP). The Appendix contains reconciliations of these non-GAAP financial measures to the closest GAAP measures. Management believes these non-GAAP measures are commonly used by investors to evaluate the Company’s performance and, when read in conjunction with the Company’s consolidated financial statements, present a useful tool to evaluate the Company’s ongoing business performance from period to period and anticipated performance. Additionally, these are some of the factors the Company uses in internal evaluations of the overall performance of its businesses. Management acknowledges that many factors impact reported results, and the adjustments in these non-GAAP measures do not account for all such factors. Furthermore, these non-GAAP measures may not be comparable to similarly titled measures used by other companies. Results and Trends Results and trends described in this Supplemental Information may not necessarily be indicative of the Company’s future performance.
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Q3 2025 Supplemental Information 3 KEY MESSAGES Pending strategic asset swap with QUIKRETE to further enhance aggregates platform, margin profile and earnings durability2 Raising full-year 2025 consolidated Adj. EBITDA guidance, given strong year-to-date performance and aggregates shipment trends3 Well-positioned to capitalize on strong end market demand, supported by record levels of federal and state investment4 Achieved all-time quarterly records for aggregates revenues, profitability and margin1
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Q3 2025 Supplemental Information 4 Q3 2025 RESULTS AS REPORTED $361 Net earnings from continuing operations attributable to Martin Marietta +22% y-o-y $667 Adjusted EBITDA from continuing operations1 +22% y-o-y $1,846 Revenues +12% y-o-y $5.97 EPS +23% y-o-y $53 Net earnings from discontinued operations, net of income tax expense -19% y-o-y $76 Adjusted EBITDA from discontinued operations1 -23% y-o-y $242 Revenues -2% y-o-y $0.88 EPS -18% y-o-y $414 Consolidated net earnings attributable to Martin Marietta +14% y-o-y $743 Consolidated Adjusted EBITDA1 +15% y-o-y $2,088 Revenues +10% y-o-y $6.85 EPS +16% y-o-y Discontinued Operations Consolidated Results Continuing Operations 1. Non-GAAP financial measure. See Appendix for reconciliation to nearest GAAP measure. Aggregates, Asphalt & Paving, Arizona Ready Mixed Concrete and Specialties Cement and Texas Ready Mixed Concrete Continuing Operations plus Discontinued Operations ($ in millions, except per share)
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Q3 2025 Supplemental Information 5 SEPTEMBER 2025 YEAR-TO-DATE RESULTS AS REPORTED $757 Net earnings from continuing operations attributable to Martin Marietta -52% y-o-y1 $1,551 Adjusted EBITDA from continuing operations2 +19% y-o-y $4,617 Revenues +9% y-o-y $12.49 EPS -51% y-o-y1 $101 Net earnings from discontinued operations, net of income tax expense -24% y-o-y $174 Adjusted EBITDA from discontinued operations2 -20% y-o-y $634 Revenues -3% y-o-y $1.66 EPS -23% y-o-y $858 Consolidated net earnings attributable to Martin Marietta -50% y-o-y1 $1,725 Consolidated Adjusted EBITDA2 +13% y-o-y $5,251 Revenues +7% y-o-y $14.15 EPS -49% y-o-y1 Discontinued Operations Continuing Operations Consolidated Results 1. Net earnings from continuing operations attributable to Martin Marietta, consolidated net earnings attributable to Martin Marietta, earnings per diluted share from continuing operations and consolidated earnings per diluted share for the year-to-date period ended September 30, 2024, include $0.9 billion, $0.9 billion, $14.49 per diluted share and $14.49 per diluted share, respectively, for a nonrecurring gain on divestiture, partially offset by acquisition, divestiture and integration expenses, the impact of selling acquired inventory after markup to fair value as part of acquisition accounting and a noncash asset and portfolio rationalization charge. 2. Non-GAAP financial measure. See Appendix for reconciliation to nearest GAAP measure. Aggregates, Asphalt & Paving, Arizona Ready Mixed Concrete and Specialties Cement and Texas Ready Mixed Concrete Continuing Operations plus Discontinued Operations ($ in millions, except per share)
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Q3 2025 Supplemental Information Q3 2025 HIGHLIGHTS 6 SHIPMENTS AVERAGE SELLING PRICE (ASP)3 GROSS PROFIT GROSS PROFIT PER TON 54 58 Q3 2024 Q3 2025 $1.8B Revenues1 +12% y-o-y $361M Net Earnings from Continuing Operations Attributable to Martin Marietta +22% y-o-y 36% Adjusted EBITDA Margin from Continuing Operations2 +285 bps $667M Adjusted EBITDA from Continuing Operations2 +22% y-o-y (Tons in Millions) ($ in Millions) $438 $531 Q3 2024 Q3 2025 $8.16 $9.17 Q3 2024 Q3 2025 $21.52 $23.24 Q3 2024 Q3 2025 +8.0% +8.0% +21% +12% (Per Ton) • All-time record quarter Aggregates Revenues of $1.5B, or +17%, Gross Profit, Gross Profit Per Ton and Gross Margin of 36% • All-time record quarter Specialties Revenues of $131M (+60%) and third-quarter record Gross Profit of $34M (+20%) driven by strong organic performance and contributions from Premier Magnesia, LLC (Premier) since the closing date 1. Revenues include the sales of products and services to customers (net of any discounts or allowances) and freight revenues for continuing operations and does not include revenues from discontinued operations for the quarters ended September 30, 2025 and September 30, 2024 of $242 million and $247 million, respectively. 2. Non-GAAP financial measure. See Appendix for reconciliation to nearest GAAP measure. 3. Selling price is established locally at the point of sale and is subject to competitive and other factors at each locality.ASP increases reflect the average of the Company’s selling price across all regions, some of which may have already been implemented. Local prices can vary significantly from this average. FINANCIAL HIGHLIGHTS ACHIEVEMENTS AGGREGATES
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Q3 2025 Supplemental Information 7 AGGREGATES GROWTH ENGINE POSITIONED FOR NEXT ERA OF VALUE CREATION Aggregat es Aggregates QUIKRETE Aggregates1 ~85 Years of Reserves based on 2024 production levels1 ~400 Aggregates quarries, mines, and yards1 1. Reflects number of quarries, mines and yards and years of reserves as of September 30, 2025. Excludes sites and reserves from the pending asset exchange with Quikrete Holdings, Inc. (QUIKRETE), which is expected to close in the fourth quarter of 2025, subject to customary closing conditions.
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Q3 2025 Supplemental Information 2025 GUIDANCE SUMMARY AT THE MIDPOINT 8 1. Reflects the midpoint of 2025 guidance ranges provided in the November 4, 2025, earnings release which has been updated to reflect year-to-date results, current shipment trends and contributions from Premier as of its closing date. 2025 Guidance midpoints reflect continuing operations unless otherwise noted. 2. 2024 Net earnings from continuing operations attributable to Martin Marietta and consolidated net earnings attributable to Martin Marietta include $0.9 billion from a nonrecurring gain on a divestiture partially offset by acquisition, divestiture and integration expenses, impact of selling acquired inventory after its markup to fair value as part of acquisition accounting and a noncash asset and portfolio rationalization charge. 3. Consolidated Net Earnings attributable to Martin Marietta and Consolidated Adjusted EBITDA include contributions from both continuing and discontinued operations. 4. Adjusted EBITDA from continuing operations and Consolidated Adjusted EBITDA are Non-GAAP financial measures; see Appendix for reconciliation to nearest GAAP measure. AGGREGATES 199M Shipment Tons +4.0% $23.38 ASP +7.3% $8.74 Gross Profit Per Ton +15% $1.72B Gross Profit +19% CONTINUING OPERATIONS AND CONSOLIDATED GUIDANCE1 Note: All percent changes are as compared to prior comparable period actual results COMMENTARY Raised full-year 2025 Consolidated Adjusted EBITDA4 of $2.32B at the midpoint reflects year-to-date results for continuing and discontinued operations, current shipment trends, contributions from the Premier acquisition as of its respective closing date. $6.16B Revenues +9% $2.08B Adjusted EBITDA From Continuing Operations4 +17% $1.00B Net Earnings from Continuing Operations Attributable To Martin Marietta -46%2 $2.32B Consolidated Adjusted EBITDA3,4 +12% 2026 PRELIMINARY OUTLOOK $1.16B Consolidated Net Earnings Attributable To Martin Marietta3 -42%2 Aggregates Shipments +Low Single Digits Aggregates Pricing +Mid Single Digits
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Q3 2025 Supplemental Information − Single-family housing − Multi-family housing 9 2026 END MARKET OUTLOOK + Infrastructure Investment and Jobs Act + Record state Department of Transportation budgets + State and local ballot initiatives + Data centers − Warehouses − Light nonresidential − Manufacturing INFRASTRUCTURE NONRESIDENTIAL RESIDENTIAL
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Q3 2025 Supplemental Information 10 Source: Federal-Aid Highway Program Total Investment INFRASTRUCTURE INVESTMENT AND JOBS ACT (IIJA) UPDATE THROUGH AUGUST 31, 2025 ~$350B $230B $150B 66% of Total Highway & Bridge Funds TOTAL HIGHWAY & BRIDGE FUNDS THREE YEARS INTO THE FIVE-YEAR IIJA, OVER 50% OF HIGHWAY & BRIDGE FUNDING REMAINS TO BE SPENT… CUMULATIVE OBLIGATIONS CUMULATIVE STATE REIMBURSEMENTS 29% of Total $1.2 Trillion IIJA 43% of Total Highway & Bridge Funds
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Q3 2025 Supplemental Information 11 Source: U.S. Congressional Budget Office, FHWA, ARTBA estimates based on annual funding levels included in $348B Infrastructure Investment & Jobs Act between FY 2022 and FY 2026. Actual pace of project commitments and thus spending will vary – for example states have four years to commit Bridge Formula Program funds, therefore the spend-out of that program may differ from historical average. Annual spending totals for illustration purposes only – this is not a forecast of annual reimbursements or spending. …INDICATING ROBUST MULTI-YEAR TAILWINDS FOR THIS COUNTERCYCLICAL END MARKET $16 $42 $53 $58 $63 $49 $24 $15 $11 $7 $9 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 & Beyond ($ in Billions) IIJA spend expected to extend well past its expiration in 2026; consistent with historical infrastructure bills Long tail from IIJA is expected to be enhanced with incremental funds from a successor infrastructure bill
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Q3 2025 Supplemental Information 12 SELECT MLM PROJECTS UNDERSCORE STRENGTH IN THE NON-RESIDENTIAL END MARKET WAREHOUSES/DISTRIBUTION Amazon Warehouse Wilmington, NC Frederick Warehouse Park Frederick, MD Ross Distribution Asheboro, NC Walmart Distribution Mebane, NC Amazon Warehouse Cleburne, TX Amazon Warehouse Fort Myers, FL Microsoft Data Center Maiden, NC Google Data Center Berkeley, SC DATA CENTERS Stargate Data Center Abilene, TX Digital Realty Data Center Charlotte, NC QTS Data Center Rock Hill, SC Facebook Data Center Covington, GA Novo Nordisk Plant Raleigh, NC Boeing Facility Jacksonville, FL MANUFACTURING Toyota Megasite Liberty, NC Scout Motors Columbia, SC Boeing Facility Charleston, SC Fuji Plant Holly Springs, NC
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Q3 2025 Supplemental Information Industry- leading unit profitability growth Proven track record of executing SOAR strategy Significant whitespace and clear M&A targets Leading supplier of aggregates Strategically located in higher-growth markets 13 KEY INVESTMENT HIGHLIGHTS
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APPENDIX
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Q3 2025 Supplemental Information 15 ADJUSTED EBITDA FROM CONTINUING OPERATIONS Earnings from continuing operations before interest; income taxes; depreciation, depletion and amortization expense; the earnings/loss from nonconsolidated equity affiliates; acquisition, divestiture and integration expenses and the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting subject to limitations described below; nonrecurring gain on divestiture; and noncash asset and portfolio rationalization charge (Adjusted EBITDA from continuing operations) is an indicator used by the Company and investors to evaluate the Company's operating performance from period to period. Transaction expenses and inventory acquisition accounting impacts are only excluded for transactions with at least $2 billion in consideration for the Building Materials business or $200 million for the Specialties business. Adjusted EBITDA from continuing operations is not defined by GAAP and, as such, should not be construed as an alternative to earnings from operations, net earnings attributable to Martin Marietta or operating cash flow. $ IN MILLIONS Three Months Ended Sep 30, 2025 Three Months Ended Sep 30, 2024 Nine Months Ended Sep 30, 2025 Nine Months Ended Sep 30, 2024 Net earnings from continuing operations attributable to Martin Marietta $361 $297 $757 $1,568 Add back (Deduct): Interest expense, net of interest income 56 38 163 85 Income tax expense for controlling interests 89 77 190 504 Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated equity affiliates 149 133 429 369 Acquisition, integration and divestiture expenses 7 2 7 39 Impact of selling acquired inventory after markup to fair value as part of acquisition accounting 5 – 5 20 Nonrecurring gain on divestiture – – – (1,331) Noncash asset and portfolio rationalization charge – – – 50 Adjustments to net earnings from continuing operations attributable to Martin Marietta 306 250 794 (264) Adjusted EBITDA from continuing operations $667 $547 $1,551 $1,304 Revenues from continuing operations $1,846 $1,642 $4,617 $4,250 Adjusted EBITDA Margin from continuing operations 36% 33% 34% 31%
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Q3 2025 Supplemental Information 16 ADJUSTED EBITDA FROM DISCONTINUED OPERATIONS Earnings from discontinued operations before interest; income taxes; depreciation, depletion and amortization expense; the earnings/loss from nonconsolidated equity affiliates; acquisition, divestiture and integration expenses and the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting subject to limitations described below; nonrecurring gain on divestiture; and noncash asset and portfolio rationalization charge (Adjusted EBITDA from discontinued operations) is an indicator used by the Company and investors to evaluate the Company's operating performance from period to period. Transaction expenses and inventory acquisition accounting impacts are only excluded for transactions with at least $2 billion in consideration for the Building Materials business or $200 million for the Specialties business. Adjusted EBITDA from discontinued operations is not defined by GAAP and, as such, should not be construed as an alternative to earnings from discontinued operations, net of income tax expense, or operating cash flow from discontinued operations. $ IN MILLIONS Three Months Ended Sep 30, 2025 Three Months Ended Sep 30, 2024 Nine Months Ended Sep 30, 2025 Nine Months Ended Sep 30, 2024 Earnings from discontinued operations, net of income tax expense $53 $66 $101 $133 Add back: Income tax expense for discontinued operations 15 18 29 37 Depreciation, depletion and amortization expense from discontinued operations 6 15 42 47 Acquisition, integration and divestiture expenses for discontinued operations 2 – 2 – Adjustments to earnings from discontinued operations, net of income tax expense 23 33 73 84 Adjusted EBITDA from discontinued operations $76 $99 $174 $217 Revenues from discontinued operations $242 $247 $634 $655 Adjusted EBITDA from discontinued operations 31% 40% 27% 33%
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Q3 2025 Supplemental Information 17 CONSOLIDATED ADJUSTED EBITDA Earnings before interest; income taxes; depreciation, depletion and amortization expense; the earnings/loss from nonconsolidated equity affiliates; acquisition, divestiture and integration expenses and the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting subject to limitations described below; nonrecurring gain on divestiture; and noncash asset and portfolio rationalization charge (Consolidated Adjusted EBITDA) is an indicator used by the Company and investors to evaluate the Company's operating performance from period to period. Transaction expenses and inventory acquisition accounting impacts are only excluded for transactions with at least $2 billion in consideration for the Building Materials business or $200 million for the Specialties business. Consolidated Adjusted EBITDA includes the adjustments described above for both continuing and discontinued operations. Consolidated Adjusted EBITDA is not defined by GAAP and, as such, should not be construed as an alternative to earnings from operations, net earnings attributable to Martin Marietta or operating cash flow. $ IN MILLIONS 1. Consolidated net earnings attributable to Martin Marietta for the quarters ended September 30, 2025 and September 30, 2024 include both net earnings from continuing operations and discontinued operations. 2. Refer to slides 17 and 18 for details of adjustments. Three Months Ended Sep 30, 2025 Three Months Ended Sep 30, 2024 Nine Months Ended Sep 30, 2025 Nine Months Ended Sep 30, 2024 Consolidated net earnings attributable to Martin Marietta1 $414 $363 $858 $1,701 Add back (Deduct): Adjustments to net earnings from continuing operations attributable to Martin Marietta2 306 250 794 (264) Adjustments to earnings from discontinued operations, net of income tax expense2 23 33 73 84 Consolidated Adjusted EBITDA $743 $646 $1,725 $1,521 Consolidated Revenues $2,088 $1,889 $5,251 $4,905 Consolidated Adjusted EBITDA Margin 36% 34% 33% 31%
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Q3 2025 Supplemental Information Year Ended Dec 31, 2025 (Midpoint Guidance) 1 Net earnings from continuing operations attributable to Martin Marietta $1,000 Add back: Interest expense, net of interest income 220 Income tax expense for controlling interests 258 Depreciation, depletion and amortization expense and earnings/loss from nonconsolidated equity affiliates 585 Acquisition, divestiture and integration expenses 7 Impact of selling acquired inventory after its markup to fair value as part of acquisition accounting 5 Adjustments to net earnings from continuing operations attributable to Martin Marietta 1,075 Adjusted EBITDA from continuing operations $2,075 18 FULL-YEAR 2025 ADJUSTED EBITDA FROM CONTINUING OPERATIONS GUIDANCE AT THE MIDPOINT $ IN MILLIONS 1. 2025 Guidance reflects the midpoint of guidance ranges provided in the November 4, 2025, earnings release. Earnings from continuing operations before interest; income taxes; depreciation, depletion and amortization expense; the earnings/loss from nonconsolidated equity affiliates; acquisition, divestiture and integration expenses and the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting subject to limitations described below; nonrecurring gain on divestiture; and noncash asset and portfolio rationalization charge (Adjusted EBITDA from continuing operations) is an indicator used by the Company and investors to evaluate the Company's operating performance from period to period. Transaction expenses and inventory acquisition accounting impacts are only excluded for transactions with at least $2 billion in consideration for the Building Materials business or $200 million for the Specialties business. Adjusted EBITDA from continuing operations is not defined by GAAP and, as such, should not be construed as an alternative to earnings from operations, net earnings attributable to Martin Marietta or operating cash flow.
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Q3 2025 Supplemental Information Year Ended Dec 31, 2025 (Midpoint Guidance) 1 Consolidated net earnings attributable to Martin Marietta $1,160 Adjustments to net earnings from continuing operations attributable to Martin Marietta 1,075 Add back: Income tax expense for discontinued operations 41 Depreciation, depletion and amortization expense for discontinued operations 42 Acquisition, integration and divestiture expenses for discontinued operations 2 Consolidated Adjusted EBITDA $2,320 19 FULL-YEAR 2025 CONSOLIDATED ADJUSTED EBITDA GUIDANCE AT THE MIDPOINT $ IN MILLIONS 1. 2025 Guidance reflects the midpoint of guidance ranges provided in the November 4, 2025, earnings release. Earnings before interest; income taxes; depreciation, depletion and amortization expense; the earnings/loss from nonconsolidated equity affiliates; acquisition, divestiture and integration expenses and the impact of selling acquired inventory after its markup to fair value as part of acquisition accounting subject to limitations described below; nonrecurring gain on divestiture; and noncash asset and portfolio rationalization charge (Consolidated Adjusted EBITDA) is an indicator used by the Company and investors to evaluate the Company's operating performance from period to period. Transaction expenses and inventory acquisition accounting impacts are only excluded for transactions with at least $2 billion in consideration for the Building Materials business or $200 million for the Specialties business. Consolidated Adjusted EBITDA includes the adjustments described above for both continuing and discontinued operations. Consolidated Adjusted EBITDA is not defined by GAAP and, as such, should not be construed as an alternative to earnings from operations, net earnings attributable to Martin Marietta or operating cash flow.