Investor Presentaiton

Dividends DIVIDENDS PER SHARE $2.00 $1.78 $1.84 $1.75 $1.60 $1.68 $1.44 $1.50 $1.20 $1.25 $1.00 $1.00 $0.75 2015 2016 2017 2018 2019 2020 2021E 60% 40% 20% PAYOUT RATIO 38% 38% 38% 38% 27% 29% 26% IIII 0% 2015 2016 2017 2018 2019 2020 2021E 21 Note: 2021 based on current dividend and EPS consensus of $7.04 Dividend Considerations First American expects to pay a meaningful dividend given the company's cash flow generation and investment opportunities Dividend increases are intended to be sustainable in perpetuity ■ Dividend increases will be dependent upon expected holding company cash flows, market conditions and alternative uses of capital, among other factors ■ The company is not committed to increasing the dividend every year 22 SQUARE PEDESTAL 24% SQUARE PEDESTAL 35 SOLARE PEDESTAL AMERICA First American

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