Investor Presentaiton

Current Employment Conditions... 15.0% Seasonally Adjusted Nonfarm Jobs Percent Change from Same Month Prior Year July 2023 Nonfarm Jobs (YOY) US: 2.2% FL: 3.2% At the onset of the COVID pandemic, employment dropped by almost 1.3 million jobs from February 2020 to April 2020, a decline of 14.1 percent. In July 2023, Florida exceeded the pre-pandemic level (February 2020) by 704,000 jobs, a gain of 7.8%. July 2023 Unemployment Rate US: 3.5% FL: 2.7% (295,300 jobless persons) The Economic Estimating Conference assumes the "full employment" unemployment rate is about 4 percent. 10.0% 5.0% 0.0% -5.0% -10.0% -15.0% Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 16.0% 14.0% Florida -United States 12.0% (seasonally adjusted) United States and Florida Unemployment Rates Source: Florida Department of Commerce, Bureau of Workforce Statistics and Economic Research, Current Employment Statistics Program in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics, August 18, 2023. Jan-12 Jan-13 Jan-14 Jan-15 Florida United States Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 Florida's unemployment rate had been below 4.0 percent from January 2018 through February 2020. With the onset of the pandemic, the unemployment rate spiked to 14.1 percent in May 2020, handily surpassing the prior peak rate of 10.9 percent experienced in the first four months of 2010 during the Great Recession. 10.0% 8.0% 6.0% 4.0% 2.0% Jan-00 Jan-01 Jan-02 Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Source: Florida Department of Commerce, Bureau of Workforce Statistics and Economic Research, Local Area Unemployment Statistics Program, in cooperation with the U.S. Department of Labor, Bureau of Labor Statistics, August 18, 2023. Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Jan-23 3.5% 2.7% 3.2% 2.2% 4

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