Capital Allocation and Digital Strategy Update
2024 Financial Outlook
DEERE
3106
Total Revenue
$14.65 billion to $15.15 billion
Adjusted EBITDA*
Net/Gross Rental Capital Expenditures
Net Cash Provided by Operating Activities
$6.9 billion to $7.15 billion
$1.9 billion to $2.2 billion, after gross
purchases of $3.4 billion to $3.7
billion
$4.15 billion to $4.75 billion
Free Cash Flow*
$2.0 billion to $2.2 billion **
2024 On Track for Another Year of Strong Results Across Growth, Profitability, Free Cash Flow, and Returns
* Adjusted EBITDA and Free Cash Flow are non-GAAP measures. See the table provided elsewhere in this presentation for a reconciliation of forecasted Free Cash Flow to the most comparable GAAP measure. Information reconciling forecasted adjusted EBITDA to the most
comparable GAAP financial measures is unavailable to the company without unreasonable effort, as discussed in the "Introductory Information" slide.
** Excludes aggregate merger and restructuring related payments. FCF outlook assumptions include 2024 cash taxes of $990M and cash interest of $620M.
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