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Investor Presentaiton

FY'21 VF cash evolution Net proceeds from Occupational Work divestiture incremental to liquidity estimates below $2.7B >$0.7B ~($0.4B) ~($2.0B) $0.5B >$1.5B H1'21 Ending Cash YTG Free Cash Flow YTG Dividends SupremeⓇ Transaction Short-Term Borrowings FY'21 Ending Cash Balance Total Liquidity1 $4.9B Net Leverage² ~ 3.3x 2 4.0x > $3.0B* Expect net leverage below 3.0x by end of FY'22 *Includes anticipated revolver capacity. 1: Liquidity represents total balance sheet cash and investments in addition to undrawn capacity under $2.25B senior unsecured revolving line of credit which is subject to a $750M reserve requirement. 2: The net leverage metric represents adjusted debt, reduced by total balance sheet cash, relative to adjusted EBITDA. Debt and EBITDA adjustments are consistent with published rating agency methodology. Supreme
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