Financial Framework and ESG Leadership

Strong Financial Position • 2.2x net debt to adjusted EBITDA12 at the end of YE/23 • • Conservative payout ratio¹ 53% for 2023 (target of 50-70%) Investment grade credit ratings S&P Global: Upgraded to BBB/Stable in September 2023 DBRS Limited: Affirmed, BBB/Stable Total liquidity of $1.05B at the end of YE/23 with: $470 MM drawn on $1.5B credit facility $20 MM cash on hand • All term debt at fixed rates See slide 21 for notes regarding this slide Long-term debt maturities (C$ MM)³ (excludes drawings under revolver) Public & Private Notes $400 $264 $230 $143 $667 2024 2025 2026 2027 2028 10

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