3Q 2021 Investor Presentation

Leveraged Finance Issuance Driven by Refinancing and M&A Activity Uses of Funds from USD High Yield Bonds and Bank Loans 1,2 5% 5% 6% 20% 19% 26% 3% 2% 7% 6% 14% 14% 28% 29% 83% 83% 75% 75% 69% 65% 65% FY 2017 FY 2018 FY 2019 ■Debt Refinancing FY 2020 ■ M&A 1Q21 3 Other 2Q21 3Q21 1. 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 has been restated to reflect updated methodology. Source: Dealogic. 2. Reported data as of September 30, 2021. 3. Other includes Shareholder Payments, Working Capital and Capital Spending. Moody's | Better decisions 3Q 2021 Investor Presentation 22

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