3Q20 Results Investor Presentation October 28, 2020 SUMMIT Materials Legal Disclaimer Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include all statements that do not relate solely to historical or current facts, and you can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "outlook," "should," "se ...

Summit Materials, Inc. (NYSE:SUM) Q2 2020 Results Earnings Conference Call July 22, 2020 11:00 AM ET Company Participants Karli Anderson - Vice President, Investor Relations Tom Hill - President and CEO Brian Harris - Chief Financial Officer Conference Call Participants Kathryn Thompson - Thompson Research Group Trey Grooms - Stephens, Inc. Anthony Pettinari - Citi Phil Ng - Jefferies Stanley Elliott - Stifel Seldon Clarke - Deutsche Bank Garik Shmois - Loop Capital Operator Ladies and gentlemen, thank you ...

2Q20 Results Investor Presentation July 22, 2020 SUMMIT Materials Legal Disclaimer Forward-Looking Statements This presentation includes "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. Forward-looking statements include all statements that do not relate solely to historical or current facts, and you can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "outlook," "should," "seeks ...

Financial Data and Key Metrics Changes - Summit Materials reported record Q1 net revenue of $342.4 million, up 12% from Q1 2019 [13][29] - Adjusted EBITDA for Q1 was $16.4 million, an increase of 149% from the previous year [15][30] - The net loss attributable to Summit decreased by $23.8 million compared to Q1 2019, with a reported basic loss per share of $0.40, improving by $0.22 per share [31][32] Business Line Data and Key Metrics Changes - Aggregate volumes increased by 9.7%, with ready-mix volumes up 14% and average sales prices rising by 6% [14][34] - Adjusted cash gross profit margin expanded by 220 basis points in Q1 2020, with adjusted EBITDA margins increasing by 260 basis points [33][35] - Cement contributed 22% of adjusted EBITDA in 2019, with production flexed according to demand [17][30] Market Data and Key Metrics Changes - The company's end-use markets are 38% public, 31% residential, and 31% nonresidential, with lower density and fewer outbreaks in their operational areas compared to more populated regions [19][20] - Public highway activity remains resilient in major markets like Texas, Kansas, and Missouri, with funding for infrastructure projects continuing [12][40] - Housing inventories in Summit's markets were well below long-term averages, indicating strong demand [11][40] Company Strategy and Development Direction - The company is reducing its capital expenditures guidance to $145 million to $160 million, primarily deferring greenfield activities [9][27] - Summit's strategy emphasizes flexibility in operations and a strong financial position, with over $500 million in liquidity [13][38] - The company anticipates long-term growth in residential and nonresidential construction, supported by low interest rates and federal infrastructure funding [41][42] Management's Comments on Operating Environment and Future Outlook - Management noted that while the near-term impact of COVID-19 is uncertain, the company is in a strong strategic and financial position [9][38] - The construction season has begun with typical demand for aggregates, asphalt, and ready-mix, despite some project delays [16][19] - Management expressed optimism about the potential for federal infrastructure funding to support state and local projects [40][89] Other Important Information - The company has implemented extensive safety protocols in response to COVID-19, ensuring business continuity [6][8] - The nearest debt maturity is over three years away, limiting financial risk [13][26] - The company has a flexible cost structure, with over 75% of costs being variable, allowing for adjustments based on demand [23][24] Q&A Session Summary Question: Expectations regarding the CARES Act and future lettings - Management indicated uncertainty about direct funding from the CARES Act but noted it could relieve pressure on state budgets [45] - They reported ongoing work in states like Texas and Kansas, with optimism for future lettings [46] Question: Cement production and demand outlook - Management acknowledged uncertainty in the cement business but noted a good recovery in April [50] Question: Aggregates pricing and margin outlook - Management reported a mix-adjusted price increase of about 3% in Q1 2020 and expressed optimism for future pricing [54] Question: Non-residential customer discussions - Management noted some project deferrals in Las Vegas but overall stability in larger markets [69] Question: Comparison to the 2009 downturn - Management highlighted that current markets are underserved compared to the overbuilt conditions prior to the 2009 downturn [79] Question: Infrastructure funding outlook - Management expressed optimism for a federal infrastructure bill, which could support state projects [89]