Investor Presentaiton
Cash Flow and Capital Allocation Highlights
Backed by strong balance sheet with low net leverage, 80% of our debt fixed, swapped or capped over the next
several years, and no near-term debt maturities resulting in certainty
Strong Cash Flow
Strong Free Cash Flow?
Performance in H1'23
$63M
Returned Capital to
Shareholders in H1'23
(including repurchases and dividends)
~$120M
Capital Allocation Framework
Organic
1 Growth
Investments
Our highest returning use of capital
Accelerating investments in our people, clients and
digital capabilities
Reduced Shares
Outstanding
(since September 2020)
Strong Balance Sheet with
Low Net Leverage³
~16%
1.1x
Share
Repurchases
Page 10
Best and highest return after organic growth
investments
Committed to return substantially all available cash
flow to investors
Have repurchased $1.5 billion since September 2020
.
Consistent return of capital
3
Quarterly Dividend
Program
Committed to grow at a double-digit percentage
annually
Increased dividend payment by 20% in January 2023
RETURNS-BASED FRAMEWORK DELIVERS SUPERIOR LONG-TERM SHAREHOLDER VALUE
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