CMS Separation Overview

Debt & interest overview Debt Breakdown Fixed vs Floating Debt Trend As of June 30, 2023 Tranche 6/30 Debt Q2 '23 Rate Q3 '23 Rate Revolver ($2.25B) $675M 6.3% 6.5% USD Term Loans $286M 6.3% 6.5% $31.1 $37.1 $33.0 $36.0 $21.6 $21.6 GBP Term Loans $833M 5.6% 6.2% $17.9 Total Floating $1,794M 6.0% 6.3% Sustainability-Linked Bond $500M 5.0% 5.0% Swaps $907M 2.1% 2.0% $0.9 $1.4 $1.4 $1.4 Total Fixed $1,407M 3.1% 3.1% $1.4 $1.4 $1.4 Total Debt $3,201M 4.8% 5.0% $2.6 $2.2 $2.0 $2.1 Hedge Notional (USD) Fair Value Fixed Rate 1 $1.7 $1.8 $1.8 Maturity 10 YR USD Floating $200M $32M 1.116% + Spread Apr '30 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 5 YR USD Floating $325M $22M 0.704% + Spread Feb '25 10 YR GBP Floating $254M $52M 0.82% Spread Apr '30 Fixed Debt ($B's) EUR cross-currency $128M $0.6M 0.811% + Spread Oct'23 Floating Debt ($B's) Net Interest Expense ($M's) Total $907M $107M 24 Fixed Rates and spread includes new amendments

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