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Investor Presentaiton

1 Nominal Income Growth Likely to Decelerate The combination of moderating job growth and wage growth should lead to aggregate nominal income growth continuing to decelerate Aggregate Nominal Income Growth for Nonfarm Private Employees | Annualized Trailing 6M Average: 13.0% 12.0% 11.0% 10.0% 9.0% 8.0% 7.0% 6.0% 5.0% 4.0% 3.0% 2.0% 1.0% 0.0% Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Job Growth: Private Nonfarm Payrolls Mar-22 Source: Bureau of Labor Statistics (Employment Report Establishment Survey) Apr-22 May-22 Jun-22 Jul-22 Aug-22 Wage Growth: Average Weekly Earnings Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aggregate Nominal Income Growth Aug-23 5.2% 3.7% 1.5% 13

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