The Path Forward

EXECUTING OUR STRATEGY Lowering Risk and Pension Funding • Strengthening our balance sheet • Lowering overall risk profile • Reduced net debt by almost $1.5B from 2009 • Reduced net debt in first three months of 2013 by $150M • Changes negotiated to Defined Benefit plans. Extension of pension funding arrangements to January 30, 2021 2013 INVESTOR DAY 14

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