Vulcan Materials Company (Holdi

Filing receipts

“The decrease was primarily attributable to negative cash flow changes in working capital balances of $43.7 million partially offset by higher cash earnings in 2026 ($36.6 million higher net earnings less $16.1 million lower non-cash depreciation, depletion, accretion and amortization).”

“The increase in tax expense was primarily due to the increase in pretax earnings in 2026.”

“Reconciliation of this metric to its nearest GAAP measure is presented below: in millions 2026 Projected Mid-point Net earnings attributable to Vulcan $ 1,210 Income tax expense, including discontinued operations 350 Interest expense, net 225 Depreciation, depletion, accretion and amortization 700 Projected EBITDA $ 2,485 Items included in Adjusted EBITDA 15 Projected Adjusted EBITDA $ 2,500 Because GAAP financial measures on a forward-looking basis are not accessible, and reconciling information is not available without unreasonable effort, we have not provided reconciliations for forward-looking non-GAAP measures, other than the reconciliation of Projected Adjusted EBITDA as noted above.”