Strategies for Sustainable Growth and Resilience

Disciplined and Balanced Capital Allocation to Maximize Long-Term Value Creation Disciplined Investment for Sustainable Growth Organic Growth Inorganic Growth Portfolio Optimization Leverage & Liquidity Invest for growth to create or strengthen our leadership position in select markets ■ Invest in supplementing and growing high quality aggregate reserves (1.1bn tons currently) ■ Maintenance & Growth Capex 5-7% of revenue ■ Focused on growing Aggregates in overall revenue mix Highly selective acquisitions in target markets Expand footprint in Western and Central USA Target mid-sized high growth markets ■ Focused on growing Aggregates in overall revenue mix ■ Divest or swap assets to strengthen market position, build scale ◉ ■ Optimize/invest in assets to serve key adjacencies Continuously evaluate assets on a 'best-fit', 'best- owner' basis Target average net leverage of 2.5x Conservative balance sheet to support growth strategy and maintain financial flexibility through cycles Strong liquidity and prudent cash management $350mm revolver capacity to support business through seasonal needs KNIFE RIVER 42

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