Financial Framework and Capital Discipline

Capital Allocation Priorities Strong Focus on Long-Term Total Shareholder Returns Non-Discretionary ☐ Fund maintenance capital 2 Maintain balance sheet strength 3 Pay current dividend Year Priorities 2022 Fund major strategic growth project (KAPS) Discretionary 4 Allocate remaining capital Further debt reduction • Dividend growth • Growth capital Share buybacks See slide 22 for notes regarding this slide Balance priorities between: 2023 Bringing net debt to adjusted EBITDA within target range by year end 2023 2024 - • 2025 Increasing cash returns to shareholders Modest growth capital Balance priorities between: Increasing cash returns to shareholders • Growth capital investment 8

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