Investor Presentaiton

Capital allocation priorities Focus on returning excess cash to shareholders Reliable and growing dividend Strong balance sheet Dividend per share $ 1.00 Sustaining capital 0.80 CAGR = 5% ■ Select investment in existing assets 0.60 0.40 ■ Share buybacks / special dividends Highly attractive growth opportunities 0.20 CAGR 11% KC YEARS 1880-2020 0.00 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Paid basis Imperial | 2020 65

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