Investor Presentaiton

Leveraged Finance Issuance Driven by Refinancing and M&A Activity Uses of Funds from USD High Yield Bonds and Bank Loans 1,2 8% 5% 5% 6% 3% 5% 8% 14% 20% 19% 26% 26% 25% 42% 83% 75% 75% 66% 69% 69% 50% FY 2016 FY 2017 FY 2018 FY 2019 ■Debt Refinancing ■ M&A ■ Other 3 FY 2020 FY 2021 FY 2022 Percent of mentions for each respective period in bond issue or bank loan program tranche documents. Excludes issues of less than $25 million and general corporate purposes. Historical data was restated on November 10, 2021, to reflect updated methodology. Percentages may not sum to 100% due to rounding. Source: Dealogic. Reported data as of December 31, 2022. 1. 2. 3. Other includes Shareholder Payments, Working Capital and Capital Spending. MOODY'S | DECODE RISK. UNLOCK OPPORTUNITY. 4Q and FY 2022 Investor Presentation 20 20

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