First Quarter 2025 Presentation

1.5%

1.4%

1.2%

1.0%

0.4%

0.3%

0.5%

0.2%

0.0%

0.0%

-0.5%

-0.2%

-0.4%

-0.6%

-0.4%

-0.4%

-0.5%

-0.6%

-0.5%

-1.0%

-0.7%

-0.7%

-0.6%

-0.8%

-0.9%

-1.0%

-1.5% -

1.3%

-1.3%

-1.7%

-2.0%

-1.8%

Dec-22

Jun-23

Jul-23

Oct-23

Nov-23

Dec-23

Apr-24

Jun-24

Jul-24

Oct-24

Nov-24

Jan-23

Feb-23

Mar-23

Apr-23

May-23

Aug-23

Sep-23

Jan-24

Feb-24

Mar-24

May-24

Aug-24

Sep-24

Cash & Equivalents

$131

Revolver Capacity (Undrawn)

$399

Total Liquidity

$529

Total Debt

$193

Net Debt/Adj. EBITDA*

0.5x

Invest in Ourselves

Disciplined M&A

$12

$7

$9

$11

FY21

FY22

FY23

FY24

Maintain Our Strong

Opportunistically

Balance Sheet

Returning Capital

Target Leverage of

to Shareholders

1.5x - 2.5x

~2.6M shares remaining on

current 10M share

repurchase authorization

Depreciation & Amortization ~$14 - $16M

Interest Expense

~$13 - $15M

Adjusted Tax Rate

~21 - 26%

Cash Taxes

~$35 - $40M

Capex

~$19 - $24M

Key FX Rates

$1.10/1€, $1.31/1£