Investor Presentaiton

Balance sheet and cash flow Strong cash flow generation ☐ ■ Q4 cash flow from operations (CFFO) $219M and FCF1 of $180M ☐ ◉ ◉ Generated $837M in FY23 FCF resulting in YTD 126% FCF conversion of Net Income 104% underlying FY23 FCF conversion to adjusted net income; expect >100% underlying FY24 conversion excluding the impact of restructuring, transaction and separation costs Balance sheet strength affords prudent capital deployment Expect to maintain an investment grade credit profile Q4 dividend of $0.26/share, an increase of 13% y/y, paid on November 9, 2023 23 Leverage Metrics ($ billions) Cash/debt Net Debt Position Net debt to LTM adjusted FY23 EBITDA Fixed/Floating debt Ending Q4 weighted interest rate FY23 Q4 $0.9B/$2.9B $1.9B 1.4x ~65%/35% ~5.0% 1 Free cash flow (FCF) calculated as reported cash flow from operations minus CAPEX. See Non-GAAP reconciliation and operating metrics at the end of presentation

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