3Q 2021 Investor Presentation

Prudent Approach to Capital Allocation Capital allocation goals Anchored around a BBB+ rating Lá 999 Capital allocation levers INVESTING IN GROWTH OPPORTUNITIES G Reinvestment C Acquisitions Ensure adequate financial flexibility 999 Provide necessary capital to pursue growth opportunities Meet return thresholds and create long-term value for shareholders Manage risk RETURN OF CAPITAL Dividends Share repurchases Moody's | Better decisions 3Q 2021 Investor Presentation 13

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