<SEC-DOCUMENT>0001674910-25-000133.txt : 20251119
<SEC-HEADER>0001674910-25-000133.hdr.sgml : 20251119
<ACCEPTANCE-DATETIME>20251119070226
ACCESSION NUMBER:		0001674910-25-000133
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		14
CONFORMED PERIOD OF REPORT:	20251119
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20251119
DATE AS OF CHANGE:		20251119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALVOLINE INC
		CENTRAL INDEX KEY:			0001674910
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS PRODUCTS OF PETROLEUM &  COAL [2990]
		ORGANIZATION NAME:           	01 Energy & Transportation
		EIN:				300939371
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37884
		FILM NUMBER:		251496615

	BUSINESS ADDRESS:	
		STREET 1:		100 VALVOLINE WAY
		STREET 2:		SUITE 100
		CITY:			LEXINGTON
		STATE:			KY
		ZIP:			40509
		BUSINESS PHONE:		859-357-2591

	MAIL ADDRESS:	
		STREET 1:		100 VALVOLINE WAY
		STREET 2:		SUITE 100
		CITY:			LEXINGTON
		STATE:			KY
		ZIP:			40509
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>vvv-20251119.htm
<DESCRIPTION>8-K
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<title>vvv-20251119</title></head><body><div style="display:none"><ix:header><ix:hidden><ix:nonNumeric contextRef="c-1" name="dei:EntityCentralIndexKey" id="f-21">0001674910</ix:nonNumeric><ix:nonNumeric contextRef="c-1" name="dei:AmendmentFlag" id="f-22">false</ix:nonNumeric></ix:hidden><ix:references xml:lang="en-US"><link:schemaRef xlink:type="simple" xlink:href="vvv-20251119.xsd"/></ix:references><ix:resources><xbrli:context id="c-1"><xbrli:entity><xbrli:identifier scheme="http://www.sec.gov/CIK">0001674910</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2025-11-19</xbrli:startDate><xbrli:endDate>2025-11-19</xbrli:endDate></xbrli:period></xbrli:context></ix:resources></ix:header></div><div id="i98958de3aa1b43c9a28c7e410b417c45_1"></div><div style="min-height:36pt;width:100%"><div><span><br/></span></div></div><div style="-sec-extract:summary"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.545%"><tr><td style="width:1.0%"/><td style="width:18.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.900%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.900%"/><td style="width:0.1%"/></tr><tr style="height:6pt"><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"/><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"/><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"/><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"/><td colspan="3" style="border-bottom:3pt double #000;padding:0 1pt"/></tr></table></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">UNITED STATES</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">SECURITIES AND EXCHANGE COMMISSION</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Washington, D.C. 20549</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">____________________</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">FORM <ix:nonNumeric contextRef="c-1" name="dei:DocumentType" id="f-1">8-K</ix:nonNumeric></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">___________________</span></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CURRENT REPORT</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Pursuant to Section&#160;13 or 15(d)</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">of the Securities Exchange Act of 1934</span></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Date of report (Date of earliest event reported): <ix:nonNumeric contextRef="c-1" name="dei:DocumentPeriodEndDate" format="ixt:date-monthname-day-year-en" id="f-2">November&#160;19, 2025</ix:nonNumeric></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">__________________________________</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:20pt;font-weight:700;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:EntityRegistrantName" id="f-3">VALVOLINE INC</ix:nonNumeric>.</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Exact name of registrant as specified in its charter)</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">___________________________________</span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:85.344%"><tr><td style="width:1.0%"/><td style="width:33.075%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.810%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:29.034%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.810%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:32.571%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span 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style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:EntityTaxIdentificationNumber" id="f-6">30-0939371</ix:nonNumeric></span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%">(State or other jurisdiction</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%">of incorporation)</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 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Employer</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Identification No.)</span></div></td></tr></table></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressAddressLine1" id="f-7">100 Valvoline Way, Suite 100</ix:nonNumeric></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%"><ix:nonNumeric contextRef="c-1" name="dei:EntityAddressCityOrTown" id="f-8">Lexington</ix:nonNumeric>, <ix:nonNumeric contextRef="c-1" name="dei:EntityAddressStateOrProvince" 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style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:700;line-height:120%">___________________________________</span></div><div style="margin-bottom:6pt;text-align:justify"><span><br/></span></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:0.1%"/><td style="width:0.374%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.060%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:95.166%"/><td style="width:0.1%"/></tr><tr style="height:3pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 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style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</span></div></td></tr><tr style="height:8pt"><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:0 1pt"/></tr></table></div><div style="margin-bottom:6pt"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">Securities registered pursuant to Section 12(b) of the Act:</span></div><div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.563%"><tr><td style="width:1.0%"/><td style="width:33.156%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.002%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:18.725%"/><td style="width:0.1%"/><td 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colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:Security12bTitle" id="f-17">Common stock, par value $0.01 per share</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:TradingSymbol" id="f-18">VVV</ix:nonNumeric></span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:100%"><ix:nonNumeric contextRef="c-1" name="dei:SecurityExchangeName" format="ixt-sec:exchnameen" id="f-19">New York Stock 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style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Item&#160;2.02.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Results of Operations and Financial Condition</span></td></tr></table></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On November&#160;19, 2025, Valvoline Inc. (&#8220;Valvoline&#8221;) issued a press release ("Earnings Release") announcing its financial results for the fourth quarter and fiscal year ended</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September&#160;30, 2025. A copy of Valvoline's Earnings Release is attached to this Current Report on Form 8-K (&#8220;Form 8-K&#8221;) as Exhibit 99.1, which is incorporated by reference into this Item&#160;2.02.</span></div><div><span><br/></span></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:9.244%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:88.556%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:100%;text-decoration:underline">Item&#160;7.01.</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span 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style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">99.1</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#0000ff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline"><a style="-sec-extract:exhibit;color:#0000ff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline" href="q42025earningsrelease.htm">Earnings Release dated November 19, 2025.</a></span></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">104</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Cover Page Interactive Data File (embedded within the Inline XBRL document) </span></td></tr></table></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In connection with the disclosures set forth in Items 2.02 and 7.01, the information in this Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed &#8220;filed&#8221; for purposes of Section&#160;18 of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise subject to the liabilities of such section. The information in this Form 8-K, including Exhibit 99.1, shall not be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any&#160;incorporation by reference language in any such filing. This Form 8-K will not be deemed an admission as to the materiality of any information in this Form 8-K that is required to be disclosed solely by Regulation FD.</span></div><div style="text-align:justify"><span><br/></span></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div><hr style="page-break-after:always"/><div style="min-height:36pt;width:100%"><div><span><br/></span></div></div><div style="text-align:center"><span><br/></span></div><div style="text-align:center"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">SIGNATURES</span></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#160;</span><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.844%"><tr><td style="width:1.0%"/><td style="width:44.421%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.305%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:48.974%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:100%">VALVOLINE INC.</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date: November&#160;19, 2025</span></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">By: </span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">/s/ J. Kevin Willis</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">J. Kevin Willis</span></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;</span></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Chief Financial Officer</span></td></tr></table></div><div><span><br/></span></div><div style="text-align:center"><span><br/></span></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><span><br/></span></div></div></div></body></html>
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<html><head>
<!-- Document created using Wdesk -->
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<title>Document</title></head><body><div id="ic1705ef1e80a4a3dac02294b14493976_1"></div><div style="min-height:63pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Exhibit 99.1</font></div><div id="ic1705ef1e80a4a3dac02294b14493976_4"></div><div style="text-align:right"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:31.616%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:66.184%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt;vertical-align:bottom"><div style="text-align:justify"><img alt="valvolinelogo100125.jpg" src="valvolinelogo100125.jpg" style="height:122px;margin-bottom:5pt;vertical-align:text-bottom;width:205px"></div></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:22pt;font-weight:700;line-height:120%">PRESS RELEASE</font></td></tr></table></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:16pt;font-weight:700;line-height:120%">Valvoline Inc. Reports Fourth Quarter and Fiscal Year 2025  Results</font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#002060;font-family:'Helvetica',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Sales of $1.7&#160;billion and delivers 19th consecutive year of system-wide SSS growth&#59;  Plans to close the Breeze acquisition and host an Investor Update in December</font></div><div style="text-align:center"><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_7"></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">LEXINGTON, Ky., November&#160;19, 2025 &#8211; Valvoline Inc. (NYSE&#58; VVV), </font><font style="background-color:#ffffff;color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">the quick, easy, trusted leader in preventive automotive maintenance</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">, today reported financial results for its fourth quarter and fiscal year ended September&#160;30, 2025. All comparisons in this press release are made to the same prior-year period unless otherwise noted. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:110%">&#8220;Fiscal 2025 was another year of compelling growth and delivery of our financial targets.</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:400;line-height:110%"> </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:110%">We continue to advance our strategic priorities and create long-term value for our shareholders,&#8221; said Lori Flees, President and CEO.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:110%">&#8220;As we wrap-up this fiscal year, I want to thank our franchise partners and our team of over 11,000.</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:400;line-height:110%"> </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:110%">Their dedication to delivering a quick, easy, and trusted experience to our guests remains a key driver of our growth. We are well positioned as we enter fiscal 2026 to deliver strong top- and bottom-line growth.&#8221; Flees added, &#8220;We are pleased to have received FTC approval on our purchase of Breeze Autocare. We expect to close the transaction on December 1st and look forward to welcoming the Breeze team to Valvoline.&#8221;</font></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_85"></div><div style="margin-bottom:5pt;margin-top:5pt"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Continuing Operations - Operating Results</font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Fiscal year highlights</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Sales of $1.7&#160;billion grew 6%, 12% considering the impact of 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style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Store count increased 8% YoY, bringing the system-wide total to 2,180</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Reported income from continuing operations of $215 million was flat, while earnings per diluted share (EPS) of $1.67 increased 2%</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:16pt;font-weight:700;line-height:120%"> </font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Adjusted EBITDA of $467&#160;million increased 6%, 11% considering the impact of Refranchising</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#59; adjusted EPS of $1.59 increased 1%, 8% considering the impact of Refranchising</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</font></div><div style="padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Returned $60&#160;million in cash to shareholders via share repurchases</font></div><div><font><br></font></div><div style="border-bottom:1pt solid #000000;margin-bottom:5pt;margin-top:10pt;opacity:1;width:198pt"></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> Refer to the definition of Refranchising below.</font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_10"></div><div style="margin-bottom:5pt;margin-top:5pt"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:120%">Fourth quarter summary</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Sales of $454&#160;million grew 4%, 10% considering the impact of Refranchising</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">System-wide store sales increased 11% to $918&#160;million and system-wide SSS grew 6.0%</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Reported income from continuing operations of $26&#160;million declined 71% and earnings per diluted share (EPS) of $0.20 decreased 71%</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Adjusted EBITDA of $130 million increased 5%, 9% considering the impact of Refranchising</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#59; adjusted EPS of $0.45 decreased 2%</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">System-wide net store additions in the quarter totaled 56 </font></div><div style="margin-bottom:5pt;margin-top:5pt"><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_13"></div><div style="margin-bottom:5pt;margin-top:5pt"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Balance Sheet and Cash Flow</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Cash and cash equivalents balance of $52 million&#59; total debt of $1.1 billion</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Full-year operating cash flow from continuing operations of $307 million and free cash flow of $48 million</font></div><div style="margin-bottom:5pt;margin-top:5pt"><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_587"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Breeze Autocare Acquisition</font></div><div><font><br></font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Received clearance from the Federal Trade Commission to close the previously announced acquisition of Breeze Autocare</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Plan to close transaction on December 1, 2025</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Will acquire net 162 stores after 45 stores are divested to Mainstreet Auto, LLC at a net purchase price of $593 million, subject to adjustments for (i) store acquisitions and sale-leaseback transactions completed by Breeze since signing and (ii) customary closing adjustments</font></div><div style="margin-bottom:5pt;margin-top:5pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:14.15pt">Will be funded with a newly issued $740 million Term Loan B</font></div><div style="margin-bottom:5pt;margin-top:5pt"><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_16"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Fiscal Year 2026 Outlook</font></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_7696581395002"></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:115%">Information regarding the Company&#8217;s outlook for fiscal 2026 is provided in the table below and includes the Breeze acquisition&#58; </font></div><div><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.611%"><tr><td style="width:1.0%"></td><td style="width:71.043%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td><td style="width:1.0%"></td><td style="width:26.757%"></td><td style="width:0.1%"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#022169;border-left:1pt solid #000000;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #000000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fiscal 2026 Outlook</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #000;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide SSS growth</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #000;border-right:1pt solid #000;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4% - 6%</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide store additions</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">330 - 360</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net revenues</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$2.0 - $2.1 billion</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$525 - $550 million</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EPS</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">1</font></div></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.60 - $1.70</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Capital expenditures</font></td><td colspan="3" style="display:none"></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #000;border-right:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$250 - $280 million</font></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:6pt"><td colspan="6" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:5.2pt;font-weight:400;line-height:120%;position:relative;top:-2.8pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%"> Refer to the Key Business Measures and Use of Non-GAAP Measures sections herein for further information regarding management&#8217;s use of these measures. </font></div></td></tr><tr><td colspan="3" style="display:none"></td></tr></table></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">2</font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Valvoline&#8217;s outlook for adjusted EBITDA and adjusted EPS are non-GAAP financial measures that are expected to be impacted by items affecting comparability. Valvoline is unable to reconcile these forward-looking non-GAAP financial measures to the comparable GAAP measures estimated for fiscal 2026 without unreasonable efforts, as the Company is currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact these GAAP measures in fiscal 2026 but would not impact non-GAAP adjusted results.</font></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_6597069767306"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Investor Update Scheduled for December</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Valvoline will host an Investor Update on Thursday, December 11, 2025. Members of the leadership team will present regarding the Company&#8217;s strategy, growth plans and financial outlook.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Registration details can be found at Valvoline&#8217;s website at http&#58;&#47;&#47;investors.valvoline.com. The event will be webcast live and, following the live event, an archived version of the webcast and supporting materials will be available.</font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">  </font></div><div id="ic1705ef1e80a4a3dac02294b14493976_22"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Fourth</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Quarter and Fiscal Year Operating Results</font></div><div><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.607%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.223%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.224%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(In millions, except per share amounts and store counts)</font></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Q4 results</font></div></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #929292;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">YoY growth (decline)</font></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #929292;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FY results</font></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-right:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">YoY growth</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net revenues</font></td><td style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #b6b6b6;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">453.8&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,710.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</font></td><td style="background-color:#e5e5e5;border-right:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating income</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (a)</font></div></td><td style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">84.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(37</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%)</font></td><td style="background-color:#ffffff;border-left:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">389.9&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</font></td><td style="background-color:#ffffff;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income from continuing operations</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (a)</font></div></td><td style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(71</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%)</font></td><td style="background-color:#e5e5e5;border-left:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">214.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;</font></td><td style="background-color:#e5e5e5;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">EPS </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.20&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(71</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%)</font></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.67&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2</font></td><td style="background-color:#ffffff;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EPS</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b)</font></div></td><td style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.45&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%)</font></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #929292;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.59&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1</font></td><td style="background-color:#e5e5e5;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EBITDA</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b)</font></div></td><td style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td style="background-color:#ffffff;border-left:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">466.8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</font></td><td style="background-color:#ffffff;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide store sales</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b)</font></div></td><td style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">918.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td style="background-color:#e5e5e5;border-left:1pt solid #929292;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3,453.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="2" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11</font></td><td style="background-color:#e5e5e5;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Q4 results</font></div></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Quarter change</font></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #929292;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FY results</font></td><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-right:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">YoY <br>change</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide stores</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b)</font></div></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,180</font></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">+56</font></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #929292;border-top:1pt solid #b6b6b6;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,180</font></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;border-right:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">+170</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated stores</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (c)</font></div></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,016</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">+33</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #929292;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,016</font></td><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;border-right:1pt solid #b6b6b6;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">+66</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchised stores</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b) (c)</font></div></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,164</font></td><td colspan="3" style="background-color:#e5e5e5;border-bottom:1pt solid #b6b6b6;border-left:1pt solid #b6b6b6;padding:2px 7pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">+23</font></td><td colspan="3" style="background-color:#e5e5e5;border-left:1pt solid #929292;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,164</font></td><td colspan="3" style="background-color:#e5e5e5;border-bottom:1pt solid #b6b6b6;border-left:1pt solid #b6b6b6;border-right:1pt solid #b6b6b6;padding:2px 13pt 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">+104</font></td></tr><tr><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="6" style="background-color:#022169;border-bottom:1pt solid #b6b6b6;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Q4 - YoY growth</font></div></td><td colspan="6" style="background-color:#022169;border-bottom:1pt solid #b6b6b6;border-left:1pt solid #929292;border-right:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FY - YoY growth</font></div></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-bottom:1pt solid #b6b6b6;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide SSS</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b)</font></div></td><td colspan="6" style="background-color:#e5e5e5;border-bottom:1pt solid #b6b6b6;border-left:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.0%</font></td><td colspan="6" style="background-color:#e5e5e5;border-bottom:1pt solid #b6b6b6;border-left:1pt solid #929292;border-right:1pt solid #b6b6b6;border-top:1pt solid #b6b6b6;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.1%</font></td></tr></table><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:95.351%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font></div></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Includes the effects of certain unusual, infrequent or non-operational activity not directly attributable to the underlying business, which management believes impacts the comparability of operational results between periods (&#8220;key items&#8221;). These key items are delineated within Table 6 - Non-GAAP Reconciliation - Income from Continuing Operations and Diluted Earnings per Share. </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Refer to Key Business Measures, Use of Non-GAAP Measures, Table 4 - Retail Stores Operating Information, Table 6 - Non-GAAP Reconciliation - Income from Continuing Operations and Diluted Earnings per Share, and Table 7 - Non-GAAP Reconciliation - Adjusted Net Revenues and EBITDA from Continuing Operations for management&#8217;s definitions of the metrics presented above and reconciliation to the corresponding GAAP measures, where applicable.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(c)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Changes reflect the effects of conversions between company-operated and franchised stores, representing changes in the mix of stores that do not impact the total system-wide store count.</font></td></tr></table></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_25"></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">3</font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Refranchising Recast Results</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Valvoline completed the sale of 67 stores from company to franchise through three transactions that occurred in the fourth quarter of fiscal 2024 and the first quarter of fiscal 2025 (the &#8220;Refranchising&#8221;). These conversions combined with executed development agreements will provide significant growth in their respective markets and deliver long-term value to shareholders. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The table below presents as reported and recast results that adjust for the Refranchising as if those transactions occurred immediately prior to October 1, 2023&#58; </font></div><div><font><br></font></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:32.079%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.880%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.017%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.867%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current year</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="6" style="background-color:#022169;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior year</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="6" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">YoY growth (decline)</font></td></tr><tr><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Q4 FY25</font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Reported</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Q4 FY24 </font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Reported</font></div></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Q4 FY24 </font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recast</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Reported</font></div></td><td colspan="3" style="background-color:#022169;border-right:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Recast</font></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-left:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net revenues</font></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">453.8&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">435.5&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">414.0&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10</font></td><td style="background-color:#dbdbdb;border-right:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EBITDA </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">124.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9</font></td><td style="background-color:#ffffff;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-left:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EPS </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)(b)</font></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.45&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.46&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.43&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%)</font></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5</font></td><td style="background-color:#dbdbdb;border-right:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:19.579%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.571%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.862%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.869%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="6" style="background-color:#022169;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current year</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="6" style="background-color:#022169;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior year</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="6" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">YoY growth</font></td></tr><tr><td colspan="3" style="background-color:#022169;border-left:1pt solid #b6b6b6;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FY25</font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Reported</font></div></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FY25</font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recast</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FY24 </font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Reported</font></div></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">FY24 </font></div><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Recast</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Reported</font></div></td><td colspan="3" style="background-color:#022169;border-right:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As Recast</font></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-left:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net revenues</font></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,710.3&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,698.6&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,619.0&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,519.7&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12</font></td><td style="background-color:#dbdbdb;border-right:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-left:1pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EBITDA </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">466.8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">463.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">442.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">419.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11</font></td><td style="background-color:#ffffff;border-right:1pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="3" style="background-color:#dbdbdb;border-left:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted EPS </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)(b)</font></div></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.59&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.56&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.57&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.44&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1&#160;</font></td><td style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="2" style="background-color:#dbdbdb;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8&#160;</font></td><td style="background-color:#dbdbdb;border-right:1pt solid #b6b6b6;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.449%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:95.351%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Refer to the Key Business Measures and Use of Non-GAAP Measures sections herein for further information regarding management&#8217;s use of these measures.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Recast Adjusted EPS was determined utilizing the adjusted effective tax rate in the respective periods and did not assume any changes in interest expense or share counts from reported results that may have occurred if the refranchising transactions had occurred earlier as the recast results assume. </font></div></td></tr></table></div><div><font><br></font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">4</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_31"></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Conference Call Webcast</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Valvoline will host a live audio webcast of its fourth quarter fiscal 2025 conference call today, November&#160;19, 2025, at 9&#160;a.m. ET. The webcast and supporting materials will be accessible through Valvoline's website at http&#58;&#47;&#47;investors.valvoline.com. Following the live event, an archived version of the webcast and supporting materials will be available.</font></div><div><font><br></font></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_34"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Key Business Measures</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Valvoline tracks its operating performance and manages its business using certain key measures, including system-wide, company-operated and franchised store counts and system-wide SSS and store sales. Management believes these measures are useful to evaluating and understanding Valvoline's operating performance and should be considered as supplements to, not substitutes for, Valvoline's net revenues and operating income, as determined in accordance with U.S. GAAP.</font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net revenues are influenced by the number of service center stores and the business performance of those stores. Stores are considered open upon acquisition or opening for business. Temporary store closings remain in the respective store counts with only permanent store closures reflected in the activity and end of period store counts. For the periods presented herein, SSS is defined as net revenues of U.S. Valvoline Instant Oil Change</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">SM</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> (VIOC</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">SM</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">) stores (company-operated, franchised and the combination of these for system-wide SSS) with same stores defined at the beginning of the month following the completion of 12 full months in operation within the system.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Net revenues are limited to sales at company-operated stores, in addition to royalties and other fees from independent franchised and Express Care stores. Although Valvoline does not recognize store-level sales from franchised stores as net revenues in its Statements of Condensed Consolidated Income, management believes system-wide and franchised SSS comparisons, store counts, and total system-wide store sales are useful to assess market position relative to competitors and overall store and operating performance.</font></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_37"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Use of Non-GAAP Measures</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The following non-GAAP measures are included herein&#58; EBITDA, adjusted EBITDA, and adjusted EBITDA margin&#59; adjusted net income and adjusted diluted earnings per share&#59; and free cash flow and free cash flow excluding growth capital expenditures. Refer to the tables herein for management's definition of each non-GAAP measure and reconciliation to the most comparable U.S. GAAP measure.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Non-GAAP measures include adjustments from results based on U.S. GAAP that management believes enables comparison of certain financial trends and results between periods and provides a useful supplemental presentation of Valvoline's operating performance that allows for transparency with respect to key metrics used by management in operating the business and measuring performance. These non-GAAP measures have limitations as analytical tools and should not be considered in isolation from, an alternative to, or more meaningful than, the financial results presented in accordance with U.S. GAAP. The financial results presented in accordance with U.S. GAAP and the reconciliations of non-GAAP measures should be carefully evaluated. The manner used to compute the non-GAAP information used by management may differ from the methods used by other companies and may not be comparable. </font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">5</font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Refer to the Appendix at the end of this release for descriptions of the adjustments that depart from the computations in accordance with U.S. GAAP.</font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font></div><div id="ic1705ef1e80a4a3dac02294b14493976_43"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">About Valvoline</font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:9.1pt;font-weight:700;line-height:120%;position:relative;top:-4.89pt;vertical-align:baseline"> </font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Inc.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Valvoline Inc. (NYSE&#58; VVV) delivers quick, easy, trusted service at approximately 2,200 franchised and company-operated service centers across the United States and Canada. The Company completes more than 30 million</font><font style="color:#ee2724;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">services annually system-wide, from about 15-minute stay-in-your-car oil changes to a variety of manufacturer-recommended maintenance services such as wiper replacements and tire rotations. At Valvoline Inc., it all starts with our people, including the</font><font style="color:#ee2724;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">over 11,000 team members who are working to drive the full potential of our core business, deliver sustainable network growth and innovate to meet the evolving needs of our customers and the car parc. For more information, visit vioc.com.</font></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_49"></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:120%">Forward-Looking Statements</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:112%">Certain statements herein, other than statements of historical fact, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include, without limitation, statements about the proposed transaction to acquire Breeze Autocare, including its Oil Changers stores, the expected timetable for completing the proposed transaction, the integration of the Breeze Autocare business, and the anticipated benefits and synergies of the proposed transaction&#59; executing on the growth strategy to create shareholder value by driving the full potential in Valvoline&#8217;s core business, delivering sustainable network growth and innovating to meet the changing needs of customers and the car parc&#59; realizing the benefits from acquisitions and refranchising transactions&#59; and future opportunities for the stand-alone retail business&#59; and any other statements regarding Valvoline's future operations, financial or operating results, capital allocation, debt leverage ratio, anticipated business levels, dividend policy, anticipated growth, market opportunities, strategies, competition, and other expectations and targets for future periods. Valvoline has identified some of these forward-looking statements with words such as &#8220;anticipates,&#8221; &#8220;believes,&#8221; &#8220;expects,&#8221; &#8220;estimates,&#8221; &#8220;is likely,&#8221; &#8220;predicts,&#8221; &#8220;projects,&#8221; &#8220;forecasts,&#8221; &#8220;may,&#8221; &#8220;will,&#8221; &#8220;should,&#8221; and &#8220;intends,&#8221; and the negative of these words or other comparable terminology. These forward-looking statements are based on Valvoline&#8217;s current expectations, estimates, projections, and assumptions as of the date such statements are made and are subject to risks and uncertainties that may cause results to differ materially from those expressed or implied in the forward-looking statements. Additional information regarding these risks and uncertainties are described in Valvoline&#8217;s filings with the Securities and Exchange Commission (the &#8220;SEC&#8221;), including in the &#8220;Risk Factors,&#8221; &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations,&#8221; and &#8220;Quantitative and Qualitative Disclosures about Market Risk&#8221; sections of Valvoline&#8217;s most recently filed periodic reports on Forms 10-K and 10-Q, which are available on Valvoline&#8217;s website at http&#58;&#47;&#47;investors.valvoline.com&#47;sec-filings or on the SEC&#8217;s website at http&#58;&#47;&#47;www.sec.gov. Valvoline assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future, unless required by law. </font></div><div id="ic1705ef1e80a4a3dac02294b14493976_52"></div><div style="margin-top:5pt"><font><br></font></div><div style="margin-top:5pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">TM</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> Trademark, Valvoline Inc., or its subsidiaries, registered in various countries</font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">SM</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%"> Service mark, Valvoline Inc., or its subsidiaries, registered in various countries</font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:14pt;font-weight:700;line-height:105%">FURTHER INFORMATION</font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:105%">Investor Inquiries </font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:105%">Elizabeth B. Clevinger</font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">6</font></div></div></div><hr style="page-break-after:always"><div style="min-height:63pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:105%">+1 (859) 357-3155</font></div><div><font style="color:#3051f2;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:105%;text-decoration:underline">IR&#64;valvoline.com</font><font style="color:#3051f2;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:105%"> </font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:105%">Media Inquiries </font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:105%">Angela Davied</font></div><div><font style="color:#3051f2;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:105%;text-decoration:underline">media&#64;valvoline.com</font><font style="color:#3051f2;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:105%"> </font></div><div style="height:63pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">7</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_55"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:27.011%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.011%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.824%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.148%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.148%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.148%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.155%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 1</font></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Statements of Consolidated Income</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(In millions, except per share amounts - preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="6" rowspan="3" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" rowspan="2" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Three months ended<br>September 30</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year ended</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net revenues</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">453.8&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">435.5&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,710.3&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,619.0&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cost of sales</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">276.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">265.2&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,051.8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,000.2&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Gross profit</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">177.5&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">170.3&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">658.5&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">618.8&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Selling, general and administrative expenses</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">95.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">81.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">349.9&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">305.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net legacy and separation-related (income) expenses</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.9)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.7)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other income, net</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2.1)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(44.5)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(82.7)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(52.8)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating income</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">84.5&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">134.6&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">389.9&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">367.2&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net pension and other postretirement plan expenses</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest and other financing expenses</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">74.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">71.9&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Income before income taxes</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">37.2&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">115.3&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">292.3&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">283.6&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income tax expense</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26.2&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">69.1&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income from continuing operations</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25.6&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">89.1&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">214.8&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">214.5&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(Loss) income from discontinued operations, net of tax</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.6)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.2&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4.1)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3.0)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net income</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25.0&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">92.3&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">210.7&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211.5&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="6" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000000;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net earnings per share</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Basic earnings (loss) per share</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 31pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Continuing operations</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.20&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.69&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.68&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.65&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt 2px 31pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Discontinued operations</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.02&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.03)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.02)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 31pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic earnings per share</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.20&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.71&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.65&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.63&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Diluted earnings (loss) per share</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt 2px 31pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Continuing operations</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.20&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.68&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.67&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.63&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 31pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Discontinued operations</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.03&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.03)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.02)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt 2px 31pt;text-align:left;vertical-align:middle"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Diluted earnings per share</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.20&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.71&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.64&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.61&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="6" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="12" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Weighted average common shares outstanding</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Basic</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">127.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">129.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">127.9&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt 2px 25pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Diluted</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">128.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">128.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">131.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">8</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_58"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.701%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.700%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:27.116%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:36.619%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.496%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.500%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 2</font></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Condensed Consolidated Balance Sheets</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(In millions - preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="12" rowspan="2" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="12" style="background-color:#e5e5e5;border-bottom:1pt solid #ffffff;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Assets</font></td><td colspan="3" style="background-color:#e5e5e5;border-bottom:1pt solid #ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="12" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Current assets</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash and cash equivalents</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">51.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">68.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Receivables, net</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">89.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">86.4&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Inventories, net</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39.7&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prepaid expenses and other current assets</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">59.9&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">61.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="9" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total current assets</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">243.7&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">255.4&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:7pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="12" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Noncurrent assets</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Property, plant and equipment, net</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,134.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">958.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease assets</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">331.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">298.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Goodwill and intangibles, net</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">740.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">705.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other noncurrent assets</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">219.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">220.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Total assets</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,670.4&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,438.7&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="12" style="background-color:#ffffff;border-bottom:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Liabilities and Stockholders' Equity</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="12" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Current liabilities</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Current portion of long-term debt</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Trade and other payables</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">118.9&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">117.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Accrued expenses and other liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">204.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">212.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="9" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total current liabilities</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">347.4&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">353.9&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:7pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="12" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Noncurrent liabilities</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Long-term debt</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,050.2&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,070.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Employee benefit obligations</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">187.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">176.2&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating lease liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">315.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">279.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other noncurrent liabilities</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">431.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">373.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total noncurrent liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,984.5&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,899.2&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:7pt"><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="12" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Stockholders' equity</font></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">338.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">185.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:7pt"><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Total liabilities and stockholders' equity</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,670.4&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,438.7&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">9</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_61"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:1.970%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:1.408%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:65.859%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.496%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.499%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 3</font></td></tr><tr><td colspan="15" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Condensed Consolidated Statements of Cash Flows</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(In millions - preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="9" rowspan="3" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year ended</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="9" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash flows from operating activities</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net income</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">210.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">211.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjustments to reconcile net income to cash flows from operating activities&#58;</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss from discontinued operations</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">4.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss on extinguishment of debt</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.1&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Gain on sale of operations</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(71.1)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(41.8)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">105.9&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred income taxes</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">38.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Loss (gain) on pension and other postretirement plan remeasurements</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2.4)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Stock-based compensation expense</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other, net</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.1)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Change in operating assets and liabilities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(35.0)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(33.8)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td 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1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">282.9&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Operating cash flows from discontinued operations</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9.9)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(17.8)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total cash provided by operating activities</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">297.2&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">265.1&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash flows from investing activities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions to property, plant and equipment</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(259.2)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(224.4)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquisitions, net of cash acquired</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(65.0)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(52.7)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Proceeds from sale of operations, net of cash disposed</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">121.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">71.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Issuances of notes receivable</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(24.2)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(13.6)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Repayments of notes receivable</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.2&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9.7&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Purchases of investments</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(4.5)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(3.5)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Proceeds from investments</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">350.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other investing activities, net</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total cash (used in) provided by investing activities</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(201.1)</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">136.8&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash flows from financing activities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Proceeds from borrowings</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">85.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">200.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Repayments on borrowings</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(103.8)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(698.8)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Repurchases of common stock, including excise taxes of $16.4 in 2025</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(76.8)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(226.8)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Payment of finance lease obligations</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12.2)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(12.0)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Other financing activities, net</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(5.1)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(8.7)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total cash used in financing activities</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(112.9)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(746.3)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Effect of currency exchange rate changes on cash, cash equivalents and restricted cash</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.3)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Decrease in cash, cash equivalents and restricted cash</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(17.1)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(344.4)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Cash, cash equivalents and restricted cash - beginning of period</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">68.7&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">413.1&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Cash, cash equivalents and restricted cash - end of period</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">51.6&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">68.7&#160;</font></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">10</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_64"></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:16.469%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.469%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.469%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.466%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.027%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.033%"></td><td style="width:0.1%"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 4</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Retail Stores Operating Information</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(Preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:0 1pt"></td></tr><tr style="height:12pt"><td colspan="9" rowspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" rowspan="2" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Three months ended<br>September 30</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year ended</font></td></tr><tr style="height:12pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Sales information</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide store sales - in millions</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (a)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$918.4&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$826.8&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font 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style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-style:italic;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (a)</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">11.1&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">12.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">11.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">12.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">%</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="6" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%;text-decoration:underline">Same-store sales growth</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b)</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.4&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.2&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="9" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchised </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="9" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.1&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:1.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:42.467%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.677%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.677%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.847%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="27" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Number of stores at end of period</font></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fourth Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Third Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Second Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fourth Quarter <br>2024</font></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,016&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">983&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">950&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">932&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">950&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchised </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,164&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,141&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,128&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,113&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,060&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:15pt"><td colspan="27" rowspan="2" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">System-wide store count </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a) </font></div></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,180&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,010&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div style="padding-left:6pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Year-over-year growth</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-style:italic;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (a)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">8.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">8.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">%</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font></td><td colspan="33" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Measures include Valvoline franchisees, which are independent legal entities. Valvoline does not consolidate the results of operations of its franchisees.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font></td><td colspan="33" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Beginning in fiscal 2025, Valvoline determines SSS growth as the year-over-year change in net revenues of U.S. VIOC same stores (company-operated, franchised and the combination of these for system-wide SSS) with same stores defined as those that have been in operation within the system for at least 12 full months. Previously, SSS was determined utilizing net revenues of U.S. VIOC stores, with new stores, including franchised conversions, excluded from the metric until the completion of their first full fiscal year in operation. Prior period measures presented herein have been revised to conform with the current approach.</font></div></td></tr></table></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:700;line-height:120%"> </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">11</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_67"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:1.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:42.467%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.987%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.995%"></td><td style="width:0.1%"></td></tr><tr><td colspan="12" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 5</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">System-wide Retail Stores</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(Preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="27" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Company-operated</font></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fourth Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Third Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Second Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fourth Quarter <br>2024</font></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beginning of period</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">983&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">950&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">932&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">950&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">937&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Opened</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">15&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquired</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net conversions between company-operated and franchised</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(39)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(23)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Closed</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">End of period </font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,016&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">983&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">950&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">932&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">950&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="27" style="background-color:#022169;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Franchised </font><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fourth Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Third Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Second Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">First Quarter <br>2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Fourth Quarter <br>2024</font></td></tr><tr><td colspan="6" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beginning of period</font></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,141&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,128&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,113&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,060&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,024&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Opened</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">24&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">19&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">17&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">14&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Acquired</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net conversions between company-operated and franchised</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(6)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">39&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Closed</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(1)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(2)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">End of period</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,164&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,141&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,128&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,113&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,060&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total system-wide stores</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (a)</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,180&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,124&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,078&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,045&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2,010&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:8pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font></td><td colspan="33" style="border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Measures include Valvoline franchisees, which are independent legal entities. Valvoline does not consolidate the results of operations of its franchisees.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font></div></td><td colspan="33" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Represents the acquisition of franchise stores that are new to the Valvoline retail store system by Valvoline Inc. </font></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">12</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_2199023256075"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:2.262%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:55.771%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.256%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.263%"></td><td style="width:0.1%"></td></tr><tr><td colspan="6" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 6</font></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10.5pt;font-weight:700;line-height:120%">Non-GAAP Reconciliation - Income from Continuing Operations and Diluted Earnings per Share</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="18" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10.5pt;font-weight:700;line-height:120%">(In millions, except per share amounts - preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" rowspan="2" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Three months ended<br>September 30</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year ended</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reported income from continuing operations</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25.6&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">89.1&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">214.8&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">214.5&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Adjustments&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net pension and other postretirement plan expenses </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.3&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11.7&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net legacy and separation-related (income) expenses</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> </font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.9)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.4&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.7)</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information technology transition costs</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.7&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Debt extinguishment and modification costs</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">&#8212;&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">7.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment and divestiture-related costs (income)</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(41.1)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(50.2)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(40.2)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total adjustments, pre-tax</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">42.9&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(38.0)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(13.7)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(11.5)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income tax (benefit) expense of adjustments</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(10.5)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">9.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Total adjustments, after tax</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32.4&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(28.6)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(9.9)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(8.9)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjusted income from continuing operations</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> </font><font style="color:#00247d;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:700;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(b) (c)</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$58.0&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$60.5&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$204.9&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$205.6&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="6" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reported diluted earnings per share from continuing operations</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.20&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.68&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.67&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.63&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Adjusted diluted earnings per share from continuing operations</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (c) (d)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.45&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">0.46&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.59&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$1.57&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:6pt"><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Weighted average diluted common shares outstanding</font></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">128.4&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130.3&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">128.6&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">131.0&#160;</font></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:9pt"><td colspan="30" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Includes remeasurement adjustments recorded in the fourth quarter, which resulted in a loss of $26.6 million and a gain of $2.4 million in fiscal 2025 and 2024, respectively.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:top"><div style="margin-top:5pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Adjusted income from continuing operations is defined as income from continuing operations adjusted for the effects of key items.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(c)</font></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:5pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Represents a non-GAAP measure. Refer to &#8220;Use of Non-GAAP Measures&#8221; and the Appendix for additional details. </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(d)</font></td><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-top:5pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Adjusted diluted earnings per share from continuing operations is defined as diluted earnings per share calculated using adjusted income from continuing operations. </font></div></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">13</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_73"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:56.648%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.530%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.841%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:8.847%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:middle"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 7</font></td></tr><tr><td colspan="27" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Non-GAAP Reconciliation - Adjusted Net Revenues and EBITDA from Continuing Operations</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(In millions - preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:6pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" rowspan="2" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Three months ended<br>September 30</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year ended</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;border-bottom:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Reported net revenues </font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:700;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(a)</font></div></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">453.8&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">435.5&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,710.3&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1,619.0&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:9pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Income from continuing operations</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">25.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">89.1&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">214.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">214.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Add&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Income tax expense</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26.2&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">77.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">69.1&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net interest and other financing expenses</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">21.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">18.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">74.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">71.9&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Depreciation and amortization</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">32.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">28.8&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">119.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">105.9&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">EBITDA from continuing operations</font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:700;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b) (c)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">91.0&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">162.1&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">485.7&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">461.4&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-indent:6pt"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Key items&#58;</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net pension and other postretirement plan expenses</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">26.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">23.6&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Net legacy and separation-related (income) expenses</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.2)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.9)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">1.4&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(0.7)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Information technology transition costs</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">3.0&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">11.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.4&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Investment and divestiture-related costs (income)</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">10.0&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(41.1)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(55.4)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(40.2)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 19pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Key items - subtotal</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" 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2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18.9)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(18.8)</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjusted EBITDA from continuing operations</font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> </font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:700;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(b) (c)</font></div></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">130.1&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">124.1&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">466.8&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">442.6&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:3pt double #000;padding:0 1pt"></td></tr><tr><td colspan="6" style="background-color:#e5e5e5;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Net profit margin</font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (d)</font></div></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">5.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">20.5&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">12.6&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">13.2&#160;</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr><td colspan="6" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Adjusted EBITDA margin</font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (b) (e)</font></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">28.7&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">28.5&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">27.3&#160;</font></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">%</font></td></tr><tr style="height:6pt"><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000;padding:0 1pt"></td></tr></table></div><div style="text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:1.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:95.830%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net revenues do not have any key item adjustments in the periods presented herein&#59; therefore, GAAP net revenues and Adjusted net revenues are the same.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Represents a non-GAAP measure. Refer to &#8220;Use of Non-GAAP Measures&#8221; and the Appendix for additional details.</font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(c)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">EBITDA from continuing operations is defined as income from continuing operations, plus income tax expense, net interest and other financing expenses, and depreciation and amortization attributable to continuing operations. Adjusted EBITDA from continuing operations is EBITDA adjusted for key items attributable to continuing operations.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(d)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Net profit margin is defined as reported income from continuing operations divided by reported net revenues. </font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(e)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Adjusted EBITDA margin is defined as Adjusted EBITDA from continuing operations divided by adjusted net revenues. </font></td></tr></table></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">14</font></div></div></div><div id="ic1705ef1e80a4a3dac02294b14493976_76"></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%"> </font><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"></td><td style="width:72.838%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.345%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.385%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.347%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Table 8</font></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Non-GAAP Reconciliation - Free Cash Flows from Continuing Operations</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">(In millions - preliminary and unaudited)</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="3" style="background-color:#022169;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Free cash flow</font><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (a)</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year ended</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating cash flows from continuing operations</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">307.1&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">282.9&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Adjustments&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Additions to property, plant and equipment</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(259.2)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(224.4)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Free cash flow from continuing operations </font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(b)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$47.9&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$58.5&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:3pt double #000;padding:0 1pt"></td></tr><tr style="height:15pt"><td colspan="3" rowspan="3" style="background-color:#022169;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Free cash flow excluding growth capital expenditures</font><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline"> (c)</font></div></td><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Year ended</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="9" style="background-color:#022169;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">September 30</font></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#022169;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2025</font></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#022169;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#ffffff;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">2024</font></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Operating cash flows from continuing operations</font></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">307.1&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:0 1pt"></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">282.9&#160;</font></td><td style="background-color:#e5e5e5;border-top:1pt solid #ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Adjustments&#58;</font></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#e5e5e5;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Maintenance additions to property, plant and equipment</font></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(66.1)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#e5e5e5;padding:0 1pt"></td><td colspan="2" style="background-color:#e5e5e5;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">(35.9)</font></td><td style="background-color:#e5e5e5;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:700;line-height:120%">Free cash flow excluding growth capital expenditures </font><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(b)</font></div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$241.0&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:10pt;font-weight:400;line-height:120%">$247.0&#160;</font></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:left;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr style="height:7pt"><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:3pt double #000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:3pt double #000;padding:0 1pt"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:1.970%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:95.830%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(a)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Free cash flow is defined as operating cash flows less additions to property, plant and equipment.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(b)</font></div></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Represents a non-GAAP measure. Refer to &#8220;Use of Non-GAAP Measures&#8221; and the Appendix for additional details. </font></div></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(c)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Free cash flow excluding growth capital expenditures is defined as operating cash flows less maintenance additions to property, plant and equipment. </font></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr></table></div><div><font><br></font></div><div id="ic1705ef1e80a4a3dac02294b14493976_79"></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">15</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:98.099%"><tr><td style="width:1.0%"></td><td style="width:72.372%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.567%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.396%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.569%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Valvoline Inc. and Consolidated Subsidiaries</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="9" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:12pt;font-weight:700;line-height:120%">Appendix - Description of Non-GAAP Measures and Adjustments</font></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td></tr></table></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">EBITDA measures</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Management believes EBITDA measures provide a meaningful supplemental presentation of Valvoline&#8217;s operating performance between periods on a comparable basis due to the depreciable assets associated with the nature of the Company&#8217;s operations, as well as income tax and interest costs related to Valvoline&#8217;s tax and capital structures, respectively. </font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Free cash flow measures</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Management uses free cash flow and free cash flow excluding growth capital expenditures as additional non-GAAP metrics of cash flow generation. By including capital expenditures, management is able to provide an indication of the ongoing cash being generated that is ultimately available for both debt and equity holders as well as other investment opportunities. Free cash flow includes the impact of capital expenditures, providing a supplemental view of cash generation. Free cash flow excluding growth capital expenditures includes maintenance capital expenditures, which are uses of cash that are necessary to maintain the Company's existing business operations, including its retail service center store network, service portfolio, and support functions. Free cash flow excluding growth capital expenditures provides a supplemental view of cash flow generation before investments in growth capital, which expand future business operations, including the opening or expansion of retail service center stores and service capabilities. Free cash flow and free cash flow excluding growth capital expenditures have certain limitations, including that they do not reflect adjustments for certain non-discretionary cash expenditures, such as mandatory debt repayments. </font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Adjusted profitability measures</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Adjusted profitability measures (i.e., adjusted net income, diluted earnings per share and EBITDA) enable the comparison of financial trends and results between periods where certain items may not be reflective of the Company&#8217;s underlying and ongoing operational performance or vary independent of business performance.</font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Key items</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The non-GAAP measures used by management exclude the impact of certain unusual, infrequent or non-operational activity not directly attributable to the underlying business, which management believes impacts the comparability of operational results between periods (&#8220;key items&#8221;). Key items are often related to legacy matters or market-driven events considered by management to not be reflective of the ongoing operating performance. Key items may consist of adjustments related to&#58; legacy businesses, including the separation from Valvoline's former parent company, the sale of the former Global Products reportable segment, and the associated impacts of related activity and indemnities&#59; non-service pension and other postretirement plan activity&#59; restructuring-related matters, including organizational restructuring plans, significant acquisitions or divestitures, debt extinguishment and modification, and tax reform legislation&#59; in addition to other matters that management considers non-operational, infrequent or unusual in nature. </font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Refer to the following for descriptions of the key items that comprise the adjustments which depart from the computations in accordance with U.S. GAAP&#58;</font></div><div><font><br></font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">16</font></div></div></div><hr style="page-break-after:always"><div style="min-height:42.75pt;width:100%"><div style="text-align:right"><font><br></font></div></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Net pension and other postretirement plan expenses</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#58; Includes several elements impacted by changes in plan assets and obligations that are primarily driven by the debt and equity markets, including remeasurement gains and losses, when applicable&#59; and recurring non-service pension and other postretirement net periodic activity, which consists of interest cost, expected return on plan assets and amortization of prior service credits. Management considers these elements are more reflective of changes in current conditions in global markets (in particular, interest rates), outside the operational performance of the business, and are also legacy amounts that are not directly related to the underlying business and do not have an impact on the compensation and benefits provided to eligible employees for current service.</font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Net legacy and separation-related (income) expenses</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#58; Activity associated with legacy businesses, including the separation from Valvoline&#8217;s former parent company and its former Global Products reportable segment. This activity includes the recognition of and adjustments to indemnity obligations to its former parent company&#59; certain legal, financial, professional advisory and consulting fees&#59; and other expenses incurred by the continuing operations in connection with and directly related to these separation transactions and legacy matters. This incremental activity directly attributable to legacy matters and separation transactions is not considered reflective of the underlying operating performance of the Company&#8217;s continuing operations.</font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Information technology transition costs</font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#58; Consists of expenses incurred directly related to the Company&#8217;s information technology transitions, primarily efforts related to implementing stand-alone enterprise resource planning and human resource information systems that generally began in fiscal 2023 following the sale of the former Global Products reportable segment. These expenses include data conversion, training, redundant expenses incurred from duplicative technology platforms, and temporary support, which includes consulting fees and professional services to support certain enhanced manual procedures and material weakness remediation efforts. These incremental costs are directly associated with technology transitions and are not considered to be reflective of the ongoing expenses of operating the Company&#8217;s technology platforms.</font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Investment and divestiture-related costs (income)&#58; </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Consists of activity directly associated with specific significant acquisitions, investments and divestitures, including professional and consulting fees for legal and advisory services, in addition to gains or losses recognized upon disposition, temporary financing costs directly associated with expected transactions, acquisition-related incentive compensation costs, and expense recognized to reduce the carrying values of investments determined to be impaired. This activity is not considered to be reflective of the underlying operating performance of the Company&#8217;s ongoing continuing operations. </font></div><div><font><br></font></div><div><font style="color:#022169;font-family:'Helvetica',sans-serif;font-size:11pt;font-style:italic;font-weight:700;line-height:120%">Debt extinguishment and modification costs&#58; </font><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Consists of accelerated amortization of previously capitalized debt issuance costs as well as third-party fees expensed in connection with the execution of the 2030 Notes redemption during the three months ended June 30, 2024. These expenses are not considered to be indicative of the future servicing costs of the Company&#8217;s ongoing debt facilities.  </font></div><div style="height:42.75pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div style="text-align:right"><font style="color:#000000;font-family:'Helvetica',sans-serif;font-size:9pt;font-weight:400;line-height:120%">17</font></div></div></div></body></html>
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    <link:label id="lab_dei_PreCommencementIssuerTenderOffer_label_en-US" xlink:label="lab_dei_PreCommencementIssuerTenderOffer" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_PreCommencementIssuerTenderOffer" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_PreCommencementIssuerTenderOffer"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_PreCommencementIssuerTenderOffer" xlink:to="lab_dei_PreCommencementIssuerTenderOffer" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_c12ed68b-f044-49a0-93ce-9dc44ce27f8d_terseLabel_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:label id="lab_dei_EntityTaxIdentificationNumber_label_en-US" xlink:label="lab_dei_EntityTaxIdentificationNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Tax Identification Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityTaxIdentificationNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityTaxIdentificationNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityTaxIdentificationNumber" xlink:to="lab_dei_EntityTaxIdentificationNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_aee05b76-236a-4fa4-a61e-6438b05cdcfb_terseLabel_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:label id="lab_dei_EntityEmergingGrowthCompany_label_en-US" xlink:label="lab_dei_EntityEmergingGrowthCompany" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityEmergingGrowthCompany"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityEmergingGrowthCompany" xlink:to="lab_dei_EntityEmergingGrowthCompany" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityFileNumber_d9ab466d-182a-46d8-8bfa-87b169884e3e_terseLabel_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:label id="lab_dei_EntityFileNumber_label_en-US" xlink:label="lab_dei_EntityFileNumber" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity File Number</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityFileNumber" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityFileNumber"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityFileNumber" xlink:to="lab_dei_EntityFileNumber" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityRegistrantName_152a4dde-4ed2-4661-9f78-9be1d9e2086f_terseLabel_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:label id="lab_dei_EntityRegistrantName_label_en-US" xlink:label="lab_dei_EntityRegistrantName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityRegistrantName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityRegistrantName" xlink:to="lab_dei_EntityRegistrantName" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_SecurityExchangeName_2be539ad-3ea6-4d89-b935-35c8e5c3e5da_terseLabel_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:label id="lab_dei_SecurityExchangeName_label_en-US" xlink:label="lab_dei_SecurityExchangeName" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Exchange Name</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_SecurityExchangeName" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_SecurityExchangeName"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_SecurityExchangeName" xlink:to="lab_dei_SecurityExchangeName" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_TradingSymbol_8892d311-4b2b-45fa-a654-a0ea2c010d5a_terseLabel_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:label id="lab_dei_TradingSymbol_label_en-US" xlink:label="lab_dei_TradingSymbol" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_TradingSymbol" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_TradingSymbol"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_TradingSymbol" xlink:to="lab_dei_TradingSymbol" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_72179ad8-e2d6-424d-9088-cb822ca5e8ed_terseLabel_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:label id="lab_dei_EntityIncorporationStateCountryCode_label_en-US" xlink:label="lab_dei_EntityIncorporationStateCountryCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityIncorporationStateCountryCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityIncorporationStateCountryCode" xlink:to="lab_dei_EntityIncorporationStateCountryCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_Security12bTitle_28c7992d-739e-4603-8dec-edfe19f14b1c_terseLabel_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:label id="lab_dei_Security12bTitle_label_en-US" xlink:label="lab_dei_Security12bTitle" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Title of 12(b) Security</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_Security12bTitle" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_Security12bTitle"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_Security12bTitle" xlink:to="lab_dei_Security12bTitle" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressStateOrProvince_823ebf8b-a6bd-4c2c-855a-b8d5591fcca1_terseLabel_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:label id="lab_dei_EntityAddressStateOrProvince_label_en-US" xlink:label="lab_dei_EntityAddressStateOrProvince" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, State or Province</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressStateOrProvince"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressStateOrProvince" xlink:to="lab_dei_EntityAddressStateOrProvince" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressPostalZipCode_0cb08ee8-e5ba-40dd-bdc1-eb4cced00365_terseLabel_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:label id="lab_dei_EntityAddressPostalZipCode_label_en-US" xlink:label="lab_dei_EntityAddressPostalZipCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressPostalZipCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressPostalZipCode" xlink:to="lab_dei_EntityAddressPostalZipCode" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressCityOrTown_e8103224-ed24-4dbb-9f68-8c93c9802414_terseLabel_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:label id="lab_dei_EntityAddressCityOrTown_label_en-US" xlink:label="lab_dei_EntityAddressCityOrTown" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, City or Town</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressCityOrTown"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressCityOrTown" xlink:to="lab_dei_EntityAddressCityOrTown" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_EntityAddressAddressLine1_ab85c5b7-2527-4c73-b792-70a8e154ac1e_terseLabel_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:label id="lab_dei_EntityAddressAddressLine1_label_en-US" xlink:label="lab_dei_EntityAddressAddressLine1" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Address, Address Line One</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_EntityAddressAddressLine1"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_EntityAddressAddressLine1" xlink:to="lab_dei_EntityAddressAddressLine1" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_DocumentType_2ed13b19-c4a6-4e1c-9db0-25606be330fa_terseLabel_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:label id="lab_dei_DocumentType_label_en-US" xlink:label="lab_dei_DocumentType" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_DocumentType"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_DocumentType" xlink:to="lab_dei_DocumentType" xlink:type="arc" order="1"/>
    <link:label id="lab_dei_CityAreaCode_bb736c7a-dc4a-4bad-944a-162ef85e206f_terseLabel_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:label id="lab_dei_CityAreaCode_label_en-US" xlink:label="lab_dei_CityAreaCode" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">City Area Code</link:label>
    <link:loc xlink:type="locator" xlink:label="loc_dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2025/dei-2025.xsd#dei_CityAreaCode"/>
    <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="loc_dei_CityAreaCode" xlink:to="lab_dei_CityAreaCode" xlink:type="arc" order="1"/>
  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>vvv-20251119_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="UTF-8"?>

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<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
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  <link:presentationLink xlink:role="http://www.valvoline.com/role/CoverPage" xlink:type="extended">
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<body>
<span style="display: none;">v3.25.3</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover Page<br></strong></div></th>
<th class="th"><div>Nov. 19, 2025</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Nov. 19,  2025<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">VALVOLINE INC<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">KY<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-37884<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">30-0939371<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">100 Valvoline Way, Suite 100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Lexington<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">KY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">40509<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(859)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">357-7777<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common stock, par value $0.01 per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">VVV<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001674910<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
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<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14a<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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