Capital Allocation and Fiscal Year 2023 Targets

Capital Allocation Philosophy MSC's capital allocation strategy is based on an owner mindset and focused on long-term value creation for shareholders Priorities Organic 1 Investments 2 Cash Returned to 600 Shareholders 3 500 Opportunistic M&A 400 MSC 300 200 100 0 Cash Returned to Shareholders 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Net Share Repurchases Common Dividends Special Dividends Dividend Payout Ratio 80% 70% 60% 50% 40% 30% 20% 10% 0% 1Dividend Payout Ratio calculated as common dividends per share / diluted EPS. 2018 ratio reflects the benefits to EPS from the Tax Cuts & Jobs Act. 15

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