EXCEPTIONAL PERFORMANCE

Vulcan has delivered strong financial results during the past five years, including consistent revenue and gross profit growth. As the leading aggregates producer in the United States, serving many of the most attractive markets, we are well positioned for continued growth, particularly as federal, state, and local governments increase spending on public infrastructure construction, while demand from private sector projects remains stable. In addition, our keen focus on operational excellence, cost control, and disciplined investment should enable us to continue to enhance profitability and drive sustainable, long-term shareholder value.

Increase in Aggregates Segment Gross Profit in 2018

Total Revenues

Net Earnings

Adjusted EBITDA²

2 Adjusted EBITDA is a non-GAAP financial measure. See Page 47 in the 10K for a reconciliation of this non-GAAP financial measure to our results reported under GAAP.

3 2017 net earnings includes an income tax benefit of $301.6 million arising from the enactment of the Tax Cuts and Jobs Act, which reduced the U.S. federal corporate income tax rate. The application of the new tax rate to our net deferred tax liabilities resulted in a reduction in tax liabilities and a corresponding income tax benefit.

Freight-Adjusted Sales Price

On a mix-adjusted basis, 2018 pricing increased 3.5 percent versus the prior year. Positive trends in backlogged work along with demand visibility, customer confidence, and logistics constraints support continued upward pricing momentum. Freight-adjusted sales price has increased at a 4% compound annual growth rate since the beginning of the economic recovery in the second quarter of 2013.

Vulcan’s MSHA/OSHA Injury Rate Compared to Aggregates Industry

Continuing Outperformance

Number of Injuries per 200,000 Hours Worked

4 The aggregates industry MSHA/OSHA injury rate for 2018 was not available as of the publication of this report.