Investor Presentaiton

Uses of Free Cash Flow and Debt Proceeds CUMULATIVE 5 YEAR USES Pension termination Share repurchases 2% Venture Investments 6% 5% Net cash & investments 38% Dividends 27% ■ 38% of cash flow went into the investment portfolio to strengthen the balance sheet Acquisitions 22% $1,400 $1,200 $1,000 $ in Millions $800 $600 $400 $200 $- 2016 2017 2018 2019 2020 $(200) 26 ■ Moving forward, further balance sheet strengthening not necessary as capital levels exceed current targets 22 SQUARE PEDESTAL 24% SQUARE PEDESTAL 35 SOLARE PEDESTAL AMERICA First American

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