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Deere Use-of-Cash Priorities CASH FROM OPERATIONS COMMITTED TO "A" RATING Manage the balance sheet, including liquidity, to support a rating that provides access to low-cost and readily available short- and long-term funding mechanisms (reflects the strategic nature of our financial services operation) FUND OPERATING & GROWTH NEEDS Fund value-creating investments in our businesses COMMON STOCK DIVIDEND Consistently and moderately raise dividend targeting a 25-35% payout ratio of mid-cycle earnings SHARE REPURCHASE Consider share repurchase as a means to deploy excess cash to shareholders, once above requirements are met 23 John Deere | 1Q 2022 Earnings Call | February 18, 2022

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