INVESTOR DAY 2026 69% 71% 69% 69% 74% 68% 79% 80% 79% 79% 81% 82% 4% 4% 4% 5% 4% 4% 80% 70% 4% 2020 2021 2022 2023 2024 2025 12 Low and stable G&A expense mitigates inflation impact from rising energy and other input costs Highly scalable business with ability to leverage third party resources when needed Lean business model reduces inflation and margin compression risks High Operating Margin 1) Adjusted EBITDA Margin and Cash G&A are non-GAAP financial measures. See Appendix for additional information. Adjusted EBITDA Margin 1 Operating Cash Flow Margin Cash G&A 1 as % of revenue