Vulcan Materials Company (VMC) Investor presentation summary

Competitive advantages and market position

• Holds a leading position in the U.S. aggregates market with 425 operations across 23 states and 16.6B tons of permitted reserves, serving 60% of the population within 60 miles of an operation.

• Maintains #1 or #2 market share in 90% of revenue markets and operates the most extensive multi-modal distribution network.

• Focus on aggregates provides strong fundamentals, lower risk, high barriers to entry, and limited product substitution.

Financial performance and growth

• Achieved $7.9B in revenue and $2.3B adjusted EBITDA in 2025, with a 29.3% EBITDA margin and 1.9x total debt/EBITDA.

• Aggregates cash gross profit per ton rose 45% from 2022 to $11.33 in 2025, with a 5% CAGR since 2017.

• Delivered double-digit earnings growth, margin expansion, and free cash flow doubling to $1.1B from 2022 to 2025.

Strategic initiatives and technology

• Leveraged technology for process intelligence, digital sales, and customer portals, with 75% of tons produced using process intelligence and over 28,000 portal users.

• Continuous improvement in plant productivity, piloting autonomous vehicles, 3D imaging, and remote GPS.

• Strategic disciplines in selling, operating, and talent management drive organic profitability and margin improvement.