7 Q 1 20 Q 1 20 at 12 31 F X 2 Q 4 19 R ev ol v er T er m l oan f ac i l i t y 2 918 6 2 671 9 3 351 2 5 125 2026 not es U S 500 m m 709 4 649 4 649 4 U ns ec ur ed not es 1 085 3 993 6 2 630 1 5 625 2022 not es U S 350 m m 454 6 5 375 2023 not es U S 400 m m 519 5 7 000 2026 not es U S 675 m m 574 6 526 0 876 7 8 500 2027 not es U S 600 m m 510 7 467 6 779 3 P I K not es 1 008 0 O t her debt adj us t m ent s 12 1 12 1 37 0 T ot a l D e bt 4 725 3 4 327 0 7 675 7 C as h c as h equi v al ent s 91 4 87 1 574 8 Ne t De b t 4 634 0 4 239 9 7 100 9 LT M A dj us t ed E B I T D A 869 4 869 4 825 6 LT M A c qui s i t i on E B I T D A A dj us t m ent 190 1 190 1 98 9 Ru n Ra t e E BI T DA 1 059 5 1 059 5 924 5 N et L ever a g e 4 37x 4 00x 7 68x N e t L e v e r a g e a n d L i q u i d i t y 1 P l eas e r ef er t o t he D ef i ni t i ons i n t he appendi x of t hi s pr es ent at i on 2 R ef l ec t s t he t r ans l at i on of al l bal anc e s heet i t em s f r om U S D t o C A D at y ear end F X r at e of 1 30 E B I T D A r el at ed m eas ur es hav e n ot been r et r ans l at ed 1 1 1 D el ever ed b al an ced sh eet I P O pr oc eed s us ed t o pay dow n debt as des c r i bed i n of f er i n g doc um e n t s o F i nal t er m l oan pay dow n r ef l ec t i v e of r ev ol v er dr aw at dat e of I P O f undi ng H i s t or i c al l y Q 1 i s a us e of c as h dr i v en by s eas ona l i t y and f r ont end l oadi n g of c api t al ex pendi t u r es C hang e i n F X f r om 1 30 at 12 31 t o 1 42 at 3 31 dr i v es non c as h r ev al uat i on of U S D denom i n at e d debt o L T M U S D denom i n at e d E B I T D A t r ans l at ed at hi s t or i c al F X r at e of 1 33 N et l ev er ag e at q uar t er end t r ans l at i ng U S D denom i n a t ed debt bal anc e s at 12 31 F X r at e i s 4 00x A pr i l 2020 U S D 500 m i l l i on bond of f er i n g net l ev er ag e neut r al A v a ila b le liq u id it y P os t I P O del ev er i ng no s i g ni f i c ant m at ur i t i es f or 5 y ear s C ov enant lit e f a c ilit ie s p r o v id e m a x im u m f in a n c ia l f le x ib ilit y O v er 1 3 bi l l i on of l i q ui di t y bet w een c as h on hand and r ev ol v er c apac i t y 1 C m i l l i ons unl es s ot her w i s e not ed