Capital Allocation and Fiscal Year 2023 Targets

Mission Critical: Strong Progress on Cost Savings $100 $80 $60 Total Gross Savings Target: $90M - $100M by end of FY23 versus FY19 Q3 FY2021: $12M $40 Q2 FY2021: $9M Q1 FY2021: $8M $20 $0 MSC FY2020: $20M KEY AREAS Sales and service Supply chain General & Administrative $40M expected in FY2021 • Raised FY21 target to $40M gross cost savings • FY21 growth investments ~$25M Net savings of -$15M FY21 Continue to target $90M to $100M in total cost savings by end of FY23 versus FY19; trending to high end of range • Projected improvement in OpEx to Sales ratio of roughly 200 bps by end of FY23 23 13

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