EX-99.2 3 ex99-2.htm INVESTOR PRESENTATION
Exhibit 99.2
MARTIN MARIETTA TO ACQUIRE LEHIGH HANSON’S U.S. WEST REGIONMay 2021 1

Business and Transaction Overview AGGREGATES~13MM tons17 active sites with~30 years average reserve lifeDeep-water import terminal and marine dredging in Bay Area CEMENT~1.5MM tons from 2 cement plants~1.1MM tons of import with large distribution terminal network READY MIX~2.3MM cubic yards from 29 ready mix plants~360 mixer trucks in fleet ASPHALT~2.8MM tons of production from 15 asphalt plants~0.3MM tons of paving services volume Transaction Overview FINANCIAL OVERVIEW TIMING AND CLOSING REQUIREMENTS All-cash acquisition of 100% of Lehigh Hanson’s U.S. West Region for $2.3billion Net purchase price of ~$2.0 billion, including ~$300 million NPV of tax benefits To be financed with cash on hand and new debt issuanceRapid deleveraging plans will support current Investment Grade creditprofileAccretive to EPS in the first full year following closing Subject to customary regulatory approvals and closing conditionsExpected to close in the second half of 2021 Business Overview 2

Martin Marietta to Accelerate Coast-to-Coast Expansion with Scaled Aggregates Platform in the Western U.S. Priority SOAR 2025 Target Rare, Upstream Materials-Led Platform Expansion Solidifies Martin Marietta’s Positionas a Leading Coast-to-Coast Aggregates Producer Strategically Located in Target Megaregions with Attractive Long-Term Demand Drivers New West Region Growth Platform Presents Significant Bolt-on Opportunities Ability to Leverage Martin Marietta’s Operating Discipline to Drive Margin Expansion Financially Attractive While Executing on Martin Marietta’s Capital Allocation Priorities 1 2 3 4 5 6 3

4 Represents a Priority SOAR 2025 Expansion Target Platform Expansion… …in Targeted Megaregions   Rare platform for West Coast expansion  Maintains Martin Marietta’s upstream materials-ledprofile  Expands geographic footprint coast-to-coast  High-performing business with further earnings growth potential  New west region growth platform presents significantbolt-on M&A opportunities Northern California SouthernCalifornia Front RangeArizona SunCorridor Texas Triangle Gulf Coast Florida Piedmont Atlantic Northeast GreatLakes Cascadia Current footprint Expanded footprintMegaregions, as defined by America 2050 Coverage in 10 out of 11 Growth Megaregions Source: America 2050

Unparalleled Track Record of Platform Expansion Through M&A MARTIN MARIETTA HAS UTILIZED LARGE-SCALE ACQUISITIONS TO ESTABLISH ITS COVETED GEOGRAPHIC FOOTPRINT… “River for the Rockies” (2011) TEXAS INDUSTRIES (2014) BLUEGRASS MATERIALS (2018) Products: Aggregates, Cement, Ready- mixRationale: Creates greater scale in aggregates with entry into strategic cement, adding vertical integration in a large and rapidly growing MegaregionFootprint Expansion: Texas Products: AggregatesRationale: Enhances aggregates position in high-growth Piedmont Atlantic and Southern Northeast Megaregions Footprint Expansion: Georgia, South Carolina, Maryland, Kentucky, Tennessee Products: Aggregates, Asphalt, Ready- mixRationale: Entry into Front Range of Colorado Megaregion, enabling an aggregates-led platform of scale Footprint Expansion: Colorado (exit Mississippi River operations) Asset Swap with …Complemented by Strong History of Bolt-On Acquisitions, including Recently Announced Acquisition of Tiller Corporation 5

CALIFORNIA AND ARIZONA’S EARLY CYCLE DEMAND DYNAMICS SUPPORT SIGNIFICANT VOLUME UPSIDE Transaction Consistent with Disciplined M&A Strategy Market Structure Superior State Financial Position Employment / PopulationGrowth Population Density Business & EmploymentDiversity Continued opportunity for margin improvement underpinned by strong market demand Senate Bill 1 (SB1) to provide ~$5B spend per year through 2030; California and Arizona well below mid-cycle demand levels and maintain strong fiscal health With +40MM residents, California is the nation’s most populous state and hometo the 5th largest economy in the world Los Angeles, the Bay Area and Phoenix represent 3 of the top 11 U.S. aggregates markets by volume Significant commercial growth, including e-commerce, technology, healthcare and education 5