Strong Focus on Total Shareholder Return

Strong Financial Position • 2.5x net debt to adjusted EBITDA12 at the end of Q3/23 • • Conservative payout ratio¹ 65% for 2022 (target of 50-70%) Investment grade credit ratings. S&P Global: Upgraded to BBB/Stable in September 2023 DBRS Limited: Affirmed, BBB/Stable Total liquidity of $1.05B at the end of Q3/23 with: $490 MM drawn on $1.5B credit facility $43 MM cash on hand • All term debt at fixed rates See slide 21 for notes regarding this slide Long-term debt maturities (C$ MM)³ (excludes drawings under revolver) I Private Notes $400 $264 $230 $143 $30 2023 2024 2025 2026 2027 10

View entire presentation