Q1 2021 Business Update

Financial Update 03 In Q1 2021, we generated $117 million in adjusted operating income - representing an adjusted operating margin of 34%, ahead of prior guidance of 23%. Adjusted operating income (loss) $150M $100M | $50M +$133M ($50M) ($16M) Q1 2020 $117M Fig 13 34% ADJUSTED OPERATING MARGIN Q1 2021 | | |

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