Investor Presentaiton

Economic Growth Has Been Resilient To-Date Despite a decline in residential investment and volatile contributions from change in inventories, real GDP growth over the last few quarters has remained stable at >2%, driven by resilient personal consumption and government spending Nonfarm Payroll Job Additions (new jobs in millions): Real GDP Growth Atlanta Fed GDPNow Q3 2022 Q4 2022 Q1 2023 2.7% 2.6% 2.2% Q2 2023 2.1% Forecast Q3E 2023 5.1% % of Contribution from: GDP Personal Consumption Expenditures 69% 1.1% 0.8% 2.5% 0.6% 2.5% Goods 24% (0.2%) (0.0%) 1.1% 0.1% Services 45% 1.2% 0.8% 1.4% 0.4% Gross private domestic investment 18% (1.5%) 0.6% (1.7%) 0.9% 1.2% Nonresidential 15% 0.6% 0.2% 0.8% 1.0% 0.2% Residential 3% (1.4%) (1.2%) (0.2%) (0.1%) 0.2% Change in Private Inventories Net Exports 0% (0.7%) 1.6% (2.2%) 0.0% 0.7% (4%) 2.6% 0.3% 0.6% 0.0% 0.9% Government Spending 17% 0.5% 0.9% 0.8% 0.6% | 0.5% Robust estimates for Q3 2023 Real GDP growth of approximately 4% to 5% include a nearly 2% contribution from net exports and change in private inventories, categories which are unlikely to persist at the same level of contribution going forward Source: Bureau of Economic Analysis, Federal Reserve Bank of Atlanta 9

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