TRANSFORMING INTO A GLOBAL CHAMPION

CONCLUSION ✓ Achieved/exceeded 2013 Investor Day financial targets ✓ On track to meet or exceed 2016-2018 targets for EBITDAR margin, ROIC and leverage* Eliminated pension solvency deficit Engaged employees and an experienced and results-driven management team ✓ Focused on value creation - Expand earnings through strategic initiatives Stronger balance sheet - reducing net debt/share buyback program * As reported on November 7, 2016 29

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