0 25.9 42.7 62.9 86.4 109.7 Ending Debt Balance 450.0 400.0 350.0 300.0 250.0 200.0 Net Debt 450.0 374.1 307.3 237.1 163.6 90.3 EBITDA/Net Interest Expense 3.8x 3.8x 4.4x 5.2x 5.2x Debt/EBITDA 3.5x 3.5x 3.0x 2.5x 2.Ox Net Debt/EBITDA 3.3x 3.1x 2.4x 1.6x 0.9x Projected Debt Service Cover