Strong Focus on Total Shareholder Return

Our Financial Framework Guiding Our Efforts to Generate Superior Risk-Adjusted Returns Target 2022A BBB BBB/BBB- Credit Ratings Preserve Financial Strength and Flexibility Invest for Margin Growth and Cash Flow Stability Net Debt/Adjusted EBITDA 1,2 2.5x - 3.0x 2.5x Corporate ROIC >12% 16% Dividend Payout Ratio¹ 50% - 70% 65% Increasing Cash Returns to Shareholders Share Buyback Use opportunistically See slide 21 for notes regarding this slide 7

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