Investor Presentaiton

Diversified, Resilient, and Flexible with Attractive ROIC INCREASING SCALE AND MARKET LEADERSHIP FOR PROFITABLE GROWTH 2022 Revenue $2,535 MM 2022 EBITDA¹ 2022 Backlog² $296 MM $819 MM 5-Year Revenue CAGR³ 5-Year EBITDA CAGR4 3-Year Average ROIC5 6.9% Geography North Central 26% All Other 13% Pacific 18% Mountain 21% Northwest 23% 10.5% Asphalt 14% Product Other 13% Contracting Services 38% 0 Ready- mix 19% Aggregates 16% 12.9% Customer Concentration Other 80% Top 15 customers 20% Note: Pie chart numbers are rounded and may not sum to 100%. EBITDA, Adj. EBITDA and Cash Flow are non-GAAP measures, see Appendix for reconciliation. 1 Reflects Pro Forma Adjusted EBITDA; ² Contracting Services backlog; 3 Reflects revenue CAGR 2017-2022; 4 Reflects Pro Forma adjusted EBITDA CAGR 2017-2022; 5 Reflects average of 2020-2022 ROIC. ROIC calculated as Operating Income / (Average Equity + Average Debt Excluding Operating Leases). Knife River figures are post dis-synergies. KNIFE RIVER 20 20

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