Investor Presentaiton
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Enterprise transformation
MODERNIZATION INITIATIVES
عمالها
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1110
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6/28/22
Business services
at scale
Modernized customer
support infrastructure
Advanced digital
capabilities
Specialized centers
of excellence
WILL DRIVE $1B OVERHEAD REDUCTION IN
SUPPORT OF OPERATING MARGIN TARGETS
Efficient capital allocation will drive
higher returns
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CASH FLOW PRIORITIES
1. Invest in high ROIC opportunities
2. Maintain a healthy balance sheet
3. Higher returns to shareholders
FY25 TARGETS
+200 bps ROIC⭑*
CapEx 6.5% of revenue
Minimum BBB/Baa2 credit rating
► Pension liability management
25%+ Dividend payout*
Residual capital for share repurchases
*Non-GAAP financial measure; see appendix for more information
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