Strong Focus on Total Shareholder Return

Strong Free Cash Flow Generation in 2024 Sources and uses Adjusted EBITDA¹ Vs. Cash Uses Free Cash Flow Growth Capex Current level of Dividends Maintenance, Interest and Cash Taxes 2024 Free Cash Flow Uses Pay down short-term debt, building balance sheet optionality Sustainable dividend growth Potential for share buybacks, preference for capital efficient growth investments Capital Allocation Priorities Non-Discretionary ☐ Fund maintenance capital 2 Maintain balance sheet strength 3 Pay current dividend Discretionary 4 Allocate remaining capital • Further debt reduction • Dividend growth • Growth capital · Share buybacks Adjusted EBITDA1 2024E See slide 21 for notes regarding this slide 8

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