Continued Strong EBITDAR Margins

We are Confident that our Improved Financial Targets will be Attained Annual EBITDAR Margin of 17%-20% (over 2018-2020) Annual ROIC of 13%-16% (over 2018-2020) Cumulative Free Cash Flow of $2.0B-$3.0B Leverage Ratio of 1.2* (over 2018-2020) (by end of 2020) * The 2020 leverage ratio target is based on a foreign exchange rate of US$1 = C$1.32. 113

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