Financial Framework and Capital Discipline

• • • Strong Financial Position 2.5x net debt to adjusted EBITDA12 at the end of Q3/23 Conservative payout ratio¹ 65% for 2022 (target of 50 - 70%) Investment grade credit ratings S&P Global: Upgraded to BBB/Stable in September 2023 Long-term debt maturities (C$ MM)³ (excludes drawings under revolver) I Private Notes $400 $264 . DBRS Limited: Affirmed, BBB/Stable $230 $143 • Total liquidity of $1.05B at the end of Q3/23 with: $30 2023 2024 2025 2026 2027 $490 MM drawn on $1.5B credit facility $43 MM cash on hand • All term debt at fixed rates See slide 22 for notes regarding this slide 10

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