Driving Forward Together

High Performance Capital Management Return on Opening Shareholders Equity (%) 28.9 29.9 Net Debt-to-Capitalization (%) 9.1 24.3% 25.7 23.3% 23.0 21.6 22.3 21.4 20.0 19.3 19.6% 16.6 Q3 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Debt Maturities & Liquidity ($ million) $150M $500M $500M 2023 2024 2025 2026 2027 2028 Revolver (Undrawn Capacity) Outstanding Debentures 40% 15% lii: 18% 10% 10% 6% 3% -4% -1% -4% -7% -14% -16% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 Q1 Q2 Q3 2023 2023 2023 * Continuing operations from 2011 ✓ RCF 5460M Cash $807M ކ C$1,52B Accordion $250M Liquidity as at most recent reported quarter TOROMONT DRIVING FORWARD TOGETHER ALLER DE L'AVANT ENSEMBLE Capital Allocation Priorities Cash from operations and liquidity well positioned Balanced Short and Long term debt profile Disciplined Capital Allocation Care & Maintenance of business Fund Organic Growth Initiatives Debt management Growth Investments Buy-backs & modest dividend increases Note: Results provided as at the most recent published QTR 12

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