Investor Presentaiton

Generating 1000 bps of Adj. SG&A (excl. media) leverage $1,400.0 31.2% $1,200.0 $1,000.0 $800.0 $600.0 $400.0 $200.0 $129.7 $0.0 FY 2016 Adj. SG&A (excluding media) Leverage Net Sales ($ millions) 23.4% $318.8 FY 2020 35.0% $1,250.0 30.0% 25.0% 20.0% 15.0% 13.4% 10.0% 5.0% 0.0% FY 2025 (est.) Adj. SG&A % (Excluding Media) 31

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