Investor Presentaiton

Leveraged Finance Issuance Driven by Refinancing and M&A Activity in 1H 2021 Uses of Funds from USD High Yield Bonds and Bank Loans¹ % of Mentions Debt Refinancing M&A ■Capital Spending Shareholder Payments Liquidity / Working Capital 5% 9% 8% 8% 7% 9% 6% 16% 13% 17% 15% 13% 9% 12% 3% 5% 5% 5% 5% 4% 6% 39% 34% 29% 35% 54% 41% 49% 71% 70% 70% 64% 64% 62% 54% 2015 Source: Moody's Analytics. Moody's | Better decisions 2016 2017 2018 2019 2020 1H 2021 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. An issue can have multiple purposes and, as a result, percentages do not sum to 100%. Data through June 30, 2021. 2Q 2021 Investor Presentation 23

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