(1) Adjusted gross profit, adjusted operating income, adjusted net income, adjusted EBITDA, adjusted diluted earnings per share and related margins are Non-IFRS measures. See “Adjusted Financial Measures (Non-IFRS)” for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and “Non-IFRS Financial Measures” for a discussion of why we believe these Non-IFRS measures are useful.

⁽²⁾ Includes $3.1 million of share based compensation in Q4 2022.

⁽³⁾ Includes the gain on sale of our EFK business in December 2022.

⁽⁴⁾ Relates to restructuring charges since Q4 2022.

⁽⁵⁾ Reflects change to adjusted net income definition discussed in more detail elsewhere in this release.

Unaudited Reconciliation of Net Income to Adjusted EBITDA

		Three Months Ended
(in millions USD)		March 31, 2023				December 31, 2022				March 31, 2022
Net income for the period		$	254			$	668			$	178
Depreciation and amortization			343				409				408
Finance expense			31				28				29
Finance income			(32	)			(26	)			NA
Income tax expense			23				8				29
Share based compensation			31				43				54
Restructuring charges (1)			5				94				—
Gains on transactions, legal settlements and transaction expenses (2)			—				(403	)			—
Adjusted EBITDA (3)(4)		$	655			$	821			$	698
Adjusted EBITDA margin (4)			35.6	%			39.1	%			36.0	%

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