Causing critical petrochemical facilities to go offline for months. This has a tremendous impact on the supply of feedstock materials and inventories, which were already very low due to refinery shutdowns during lockdown. We also began to experience logistics challenges as ports became congested and the trucking industry became strained. In April 2021, a major U.S. producer of alkyd resins and a key supplier of RPM's suffered a catastrophic event that left the alkyd resin significantly constrained in the U.S. These events set the stage for extreme supply chain disruptions and unprecedented material inflation. In February of this year, the Russia-Ukraine conflict began that has caused further uncertainty. The point of going through these is that through our MAP to Growth initiatives, RPM was well-positioned to take these challenges on. We worked closely with our suppliers, utilized our value engineering work to find alternative materials, insourced more materials than ever, and collaborated across the companies to ensure that materials that were short were utilized in the most effective manner to minimize the impact to our customers and our shareholders. The macroeconomic and industry challenges I just covered had a material impact on our ability to meet our MAP 2020 financial goals in FY 2021. These headwinds continued through fiscal year 2022, and our margins were further challenged by worsening supply chain disruption and inflation. Our Consumer Group was especially challenged as the full effect of the alkyd resin shortages began to have serious impacts throughout the industry. It is worth pointing out that these financial results would have been significantly worse if not for the contributions from the operating efficiency improvements that I covered briefly earlier from MAP to Growth. Beyond the operating efficiencies of MAP to Growth, we have laid a foundation for continued success. The critical activity to support our continued success has been the work to consolidate our ERPs to four common platforms from the 75 instances we had in fiscal year 2018. This has allowed the development and implementation of RPM-wide systems and better data analytics that will be key to our MAP 2025 initiatives. We've been working on optimizing our footprint and consolidating our county locations to drive further efficiency. We have repurchased $633 million of stock and adopted an improved goal-setting methodology that allows for better long-term planning. As previously mentioned, we have greatly increased our insourcing to address supply issues and better utilization of our assets. Perhaps the most significant benefit of our MAP to Growth effort has been the enhanced collaboration and coordination across the RPM companies. The picture shown here is our four group presidents, Paul Hoogenboom's group from our Construction Products Group, we'll hear from shortly, Dave Dennsteadt from our Performance Coatings Group, Bill Spaulding from our Consumer Group, and Ronnie Holman from our Specialty Products Group. These four are the leaders that champion the intercompany interactions that we call Connections Creating Value. We have instilled a culture that allows for the successful implementation of global shared service centers, RPM-wide systems, and incentives that encourage collaboration. An excellent example of RPM's collaborative mindset is the purchase last year of the Corsicana, Texas, chemical facility. This facility is managed by the Construction Products Group, but all four RPM segments utilize materials produced in Corsicana. In fact, the primary beneficiary of the Construction Products Group plant is the Consumer Group, as the facility has developed the ability to produce alkyd resins to help us offset the loss of the industry supplier I spoke of earlier. This level of cooperation and collaboration positions RPM well as we look forward into MAP 2025. Just as we start, as I stated in our MAP to Growth vision statement, RPM has transformed into a more connected and efficient company. We exceeded our operating efficiency targets, and the enhanced collaboration and coordination throughout RPM not only helped us navigate the macroeconomic headwinds of the last several years, it has positioned us well for future success. Our view of MAP 2020 is that its completion was a milestone and not the finish line. We have not stopped our continuous improvement activity, and we have the resources, systems, and very importantly, the culture to position RPM for sustained profitable growth. Now we shift to where we're going. In 2018, when we launched MAP to Growth, MAP was an acronym for Margin Acceleration Plan. Through MAP to Growth, we have successfully built a structure to accelerate our margins. As we launch MAP 2025, MAP is now an acronym for Margin Achievement Plan, and the margin we are most focused on achieving is a 16% EBIT margin. This slide summarizes our MAP 2025 goals. We plan to grow our revenue to $8.5 billion. As I mentioned on the previous slide, our focus is on achieving a 16% EBIT margin. We believe that most of the improvement is driving the achievement of our EBIT goal will be reflected in cost of goods sold. Thus, achieving a gross margin of 42% will be critical to our success. Similar to our MAP 2020, these goals are on a run rate basis to be fully re-realized in fiscal year 2026. Our revenue growth was developed through a bottoms-up forecast from our operating companies and totals up to a 5% CAGR for the core growth revenue. We also expect revenue growth through strategic investments that the operating companies are pursuing, as well as a new work stream for MAP 2025 called CS 168, where we'll be implementing systems to drive commercial excellence. A few examples of the many strategic investments we are planning include Carboline diversifying their end markets, CPG driving the market through solutions to building efficiency, and investment that our Specialty Products Group is making in Greensboro, North Carolina, to create a RPM coating center of excellence that all of our operating groups will participate in. In addition, we expect to add $250 million of revenue from mergers and acquisitions. Lastly, our MAP 2025 plan assumes modest GDP growth. On this slide, we show the work streams that will be the significant drivers of gross margin improvement on MAP 2025 plan. We plan to continue expansion of improvements of both manufacturing and procurement. The newly added commercial work stream is also on this page. For the manufacturing work stream, we'll be expanding our very successful management system for MS-168 in two additional facilities. We will continue to look for opportunities to optimize our footprint and use new approaches to plant efficiency such as AI and Internet of Things that we have started activities on. In procurement, we will continue to expand our strategic supplier relationships, which has proven advantageous for both our suppliers and RPM. We have also made investments in new procurement team to support expansion to additional categories. With our baseline of fiscal year 2022 being year of cycle five, we do expect costs to return to a more historic normal during MAP 2025. Our plan does include a benefit from commodity cycle recovery. As I previously mentioned, the plan for our newest work stream, CS 168, is to implement systems to drive commercial excellence through use of data analytics to receive appropriate value for the differentiation value our products deliver and increase the overall effectiveness of the sales force. Similar to MAP 2020, we have broken out the work stream savings into waves, with wave one being our fiscal year 2023 and targeting a savings of $120 million of improvements. Wave two is our fiscal year 2024, and we'll be adding an additional $160 million of improvements. Wave three, our fiscal year 2025, we're targeting improvements of $185 million. As we reported on the earnings call earlier this week, we are off to a very good start with $30 million of savings realized in the first quarter of fiscal year 2023. On an EBIT bridge, we break out the contributions from organic sales, mergers and acquisitions, and the MAP work streams, which as you can see, is the most significant contributor to our EBIT improvement. We have also included offsets for SG&A inflation we expect to incur in MAP 2025. This is something we did not include in our MAP to Growth plan for MAP 2020. This shows our goals versus our baseline on fiscal year 2022. Our targets include growing our revenue to $8.5 million, as I covered, an increase in our gross margin to 42%, largely through the benefit of MAP plus three. The SG&A decrease is in support of our strategic growth revenue and SG&A inflation. The EBIT is being driven by the improved Securus margin as well as contributions from our revenue group. Lastly, I just wanna comment a little bit. We have been, and continue to experience an extremely volatile, uncertain, complex, and ambiguous time. As a result of this, there are factors that are outside of our control that could lead to us achieving our plan faster or slower. Some factors that could negatively impact the timing of achieving our plan include a global energy crisis, a prolonged recession, or a strong U.S. dollar. On the upside, accelerated mergers and acquisitions, a larger commodity cycle recovery, or strong GDP growth could all lead to achieving our plans sooner. Thank you for your time, and I will now turn it over to Russel Gordon to give the capital update. Thanks, Tim. I'm Russell Gordon. I have worked at RPM 28 years, the last 10 years as CFO. I'm gonna be brief today. The first slide I have talks about capital allocation at RPM, and our number one priority, as I put it, is to protect the house, make sure we maintain investment-grade ratings so RPM can access capital markets in all economic cycles to do acquisitions year in, year out. Now, when we talk about capital allocation today, as you're aware, the price for acquisitions has been very inflated, very high multiples. For those of you who read the financial press, you probably know that for public companies, the batting average is not so great on acquisitions, and a lot of the problem is overpaying for acquisitions. At RPM, that low batting average is not our experience. We have a very high batting average because we have a lot of discipline, and we tend to avoid some of those crazy multiples you might read about. We're gonna be really emphasizing internal growth and savoring that versus acquisitions. We have a lot of great opportunities. You'll see some today related to high-performance buildings. That's something Tremco specializes in. We talked about building a center of excellence for coatings. We see a big opportunity to diversify our tar line business outside of their oil and gas niche specialty. The same with OEM coating. Our consumer division, we have consistently grown Rust-Oleum to cover more surfaces year in, year out. We're gonna be as we resolve supply chain issues, getting back to finding more growth opportunities for that business, as well as the cleaner business. We've expanded there, and that's a nice platform. Plenty of ideas for internal growth. When it comes to capital allocation, you'll see more funding for those initiatives. Also on this slide, we talk about our dividend increases. We have a growing dividend that's been valued by our shareholders, and that dividend is a great way for RPM to return capital because it's a nice match for the steady cash flows we generate being a maintenance-driven business. That's worked well for us. Share repurchase is something we've picked up a bit since we entered the MAP program in 2018. We're gonna continue to do it at a minimum to offset dilution, and we'll do more share repurchase when the opportunity exists. The last slide I have today is to talk about our debt structure. This shows our debt maturity for the bonds and credit facilities that RPM uses to fund our growth. One comment I'll make is, as we got to the end of the last calendar year, 2021, we saw some signs that credit markets were probably not gonna get much better and more likely to get worse. We did two things. First thing we did was, early in January, we pre-funded a bond maturity that matures next month. You can see that on this chart, the 2022 $300 million bond. We pre-funded that with an issuance back in early January at 2.95%, because we did see that interest rates were more likely to go up, not down at that point. Second thing we did was that we had a term loan and revolving credit facility that was set to mature in 2023, and there was a lot of talk about recession in 2023, so we thought we should get ahead of that. We amended those facilities this past summer to push those maturities out, as you can see on this slide, to 2025 and 2027. The end result of this, as you can see, most of our maturities are long now. We have a duration of 13 years. Average interest rate on our fixed debt is a little over 4%, which actually isn't too far from where the 10-year treasury was, at least a week or so ago. We're in good shape there. We do have some floating rate debt, but as our cash flow improves as we get through this supply chain debt, our hope is that we will be able to have some cash available, to pay off, some of those floating rate instruments. With that, I will turn it over to Tracy Crandall. Tracy? Hi, I'm Tracy Crandall. I'm the RPM Vice President of Compliance and Sustainability, and I am also the Associate General Counsel. I've been with RPM for 13 years, and I have been leading our sustainability program for the last year. At RPM, we call our sustainability program Building a Better World, and based on our materiality assessment, we focus on people, products, processes, and of course, customers. For 75 years, RPM has valued and respected our place in the world as a steward of the environment. Our Building a Better World program represents our ongoing commitment to create a sustainable future founded on our values of transparency, trust, and respect. In recent years, we have doubled down on our commitment by implementing new data-driven systems and processes across our decentralized operations to bring good practices together with this more center-led strategic approach of the sustainability office. Our initiatives prioritize areas where we can make the biggest impact. For example, this includes efforts to recruit diverse candidates, reduce water usage, and to design communications programs to engage and excite our employees about our sustainability efforts by showcasing the great work that they have done and continue to do to make our business and products more sustainable. As you will have likely seen, we released our 2021 sustainability report in August. In it, we report on our track record of sustainable product development achievements, operations advancements contributing to increased energy efficiency and reduced greenhouse gas emissions, as well as our diversity and inclusion programs. We also explain our Building a Better World program and strategic approach, highlight our sustainability strategies, and detail our 2025 calendar goals. We are proud of the work achieved by our companies and associates to date, but recognize there is more work to do and are focused on using the Building a Better World program to take us to the next level in our sustainability journey. As I have said, Building a Better World is our commitment to building a sustainable future, and we have organized our program into three pillars. Our products focuses on the energy efficiency advantages of the products that we make, as well as the impact the ingredients our products have on people and the environment. For example, we're looking at green chemistry and sustainable packaging alternatives. Our people, addressing diversity and inclusion, health and safety, and training and development. Our processes, focusing on the impacts our operations have on the environment and climate change. These sit on our longstanding foundation of good governance and ethical practices, through which we emphasize our values of transparency, trust, and respect. I'll walk through each pillar in more detail, but first let me highlight our 2025 calendar sustainability goals that we released in our report. Using 2021 as a baseline year, our calendar 2025 sustainability goals are to reduce Scope one and Scope two greenhouse gas emissions from our facilities by 20% per ton of production and any energy consumed in our facilities by 10% per ton of production. To reduce waste to landfill by 10% and increase recycling by 20%, both per ton of production, from our facilities. Finally, to identify and implement additional opportunities for water reuse and conservation and collaborate with our suppliers to do the same. Product and people-focused goals will follow as we continue to develop initiatives as we gather and analyze data in the coming years to improve product profiles and associate experiences. Back to our pillars. As part of our product pillar, we work to proactively and to improve sustainability in our product formulations and in our packaging. With our product line, customers can promote energy efficiency, reduce landfill waste, extend the useful life of renew and reuse products, and support the use of bio-based and recycled materials. Our sustainability report showcases many of our sustainability advantage products, including those on the slide. To highlight, Tremco CPG creates cool roof coating products such as the AlphaGuard line, some products of which are bio-based and carry a USDA BioPreferred label. These products reduce the heat island effect and enhance the ability of buildings to regulate temperature, leading to greater energy efficiency and reduced greenhouse gas emissions from the building. These products also preserve roofs, thus avoiding tons of landfill waste because the old roof remains in place and is simply overcoated. Our daily success as a company depends on having a diverse and enriched and engaged team of cathedral builders, people who find purpose in their work. This is a long-standing mindset and an essential component of the RPM entrepreneurial spirit. As part of our people pillar, we embrace the ways our associates are different and strive to create a work environment where our associates feel included, invested in, and supported in their work and their community contributions. Frankly, we could not take on the challenge of Building a Better World without the committed RPM associates around the globe who we involve in our sustainability efforts in a variety of different ways. We are also focused on adapting to matters affecting and being valued by our rapidly changing workforce, and we develop benefits offerings designed to support associates' mental, emotional, and physical well-being. For example, we recently redesigned our infertility benefits to better serve women without partners, same-sex couples, and women who are later in childbearing years. We look for ways to offer learning opportunities to our associates to meet continuing training needs, stimulate personal growth and development, and advance in their roles. In fact, in response to our first employee engagement survey earlier this year, we are investing in an exciting new online training and development service offering. Our MS-168 manufacturing system is the foundation for many process improvement efforts associated with MAP to Growth, and it is critical to the achievement of our 2025 Building a Better World sustainability goal. The program has been implemented at 40 plants and is being rolled out at four facilities each year. It empowers our associates to maximize efficiency, to minimize waste in our facilities. Reducing waste ultimately improves the quality of our products and increases the overall operational efficiency in our facilities, thus reducing greenhouse gas emissions and the use of natural resources. We take climate risk seriously as we decide how to spend capital, where to expand our operations. In 2021, we conducted a review of our manufacturing distribution centers to assess total water withdrawn, water consumed in facilities located in regions with high or extremely high water stress to guide capital expenditure and operational decision making. Through our center-led environmental health and safety program, we conduct audits, deliver training, develop safety policies, and create goals to address areas for improvement for safety and health. Since 2015, we have closed 31 outdated and energy-intensive plants as part of our MAP to Growth program. As we consolidated locations that became more operationally efficient, we significantly reduced greenhouse gas emissions, energy, and water use. We have limited data from 2015, but based on our estimates, we believe that compared to 2021 on a per ton of production-based basis, we reduced greenhouse gas emissions by a fabulous 40% approximately, and water by approximately an astounding 60%. Testament to the value of the MS-168 program to our sustainability success and to facilitating the achievement of our Building a Better World 2025. Our foundation of good governance is built upon a board of directors that is engaged in environmental, social, and governance issues and provides guidance to our cross-functional Building a Better World oversight committee, which I chair. We have had women leaders on our board for over 30 years and recently added sustainability experience from two new directors, Julie Lagacy, Chief Sustainability and Strategy Officer of Caterpillar Inc., and Elizabeth Whited, Executive Vice President, Sustainability and Strategy of Union Pacific Corporation. General Ellen Pawlikowski, our most recently appointed director, brings a wealth of executive leadership experience as a result of her role as a four-star general in the U.S. Air Force. Governance and our culture of transparency, trust, and respect is reinforced throughout our organization through our code of conduct and through our ethics and compliance training program that focuses on all employees, including management. As I stated earlier, we are proud of the accomplishments to date associated with our Building a Better World program and look forward to continuing to build a better world as we develop new initiatives and targets and meet our 2025 sustainability goals. As we look to the future, we are excited about our prospects to stimulate engagement and drive change throughout our organization. Given this centralized sustainability approach, the energy around our Building a Better World program and our board support. We are committed to being good corporate stewards with our products, for our people, and through our processes for the benefit of the environment. We are prioritizing a number of different areas for future progress, some of which are highlighted on this slide, like the development of a renewable energy strategy and additional goals, as I said earlier. I'm excited and honored to lead RPM in its Building a Better World program. On behalf of RPM and our committed associates, I thank you for supporting our commitment to build a better world. I'll now turn the presentation over to Paul Hoogenboom, President of our Construction Products Group. Thanks, Tracy. As Frank mentioned, I've spent 10 years with the Construction Products Group, and we'll share a little bit today with you about that journey. In 2016, Frank approached me and what had been, at that point, a highly fragmented, highly all over the world approach to building construction materials. He said, "Do we wanna form this global group, pursue that and the strategies?" I said, "Yes." Then Frank, I had about three years to put all that together. We unveiled that in July 2019, so strategic realignment to drive growth and efficiency was sort of the tagline back then. The group is really structured around two fundamental areas, the as-built and new building construction environment, air, moisture and thermal management, as well as all the flooring in the building. That would be seamless fire protection, both active and passive, for anything in the building, and any of the concrete. Then on the other side, anything to do with infrastructure that is either about concrete or concrete protection. Since the group was put together as a reportable segment, you can see that the performance has been solid. As Frank noted, we're in a very, very challenged environment, but we've done a nice job at being able to leverage and grow sales, get that to the bottom line on the EBIT side, as well as improve our EBIT percent. A very good start for us there. A key part of the changes historically, what had been independent, really company-based, generally based upon when they were acquired and then within the geographies they were acquired. We went to a global brand strategy. We have nine of those. I'm gonna walk you through all. You'll see a number of those by examples, and later on when we host you at the test wall. Then two brands which remain regional. One, Viapol, which is a very strong brand in Brazil, very exciting market for us. The other is Key Resin, which is a very good flooring brand just here in North America. Then again, the key markets we serve, as I mentioned, it's really any of the buildings that are both as-built or existing and, you know, the new construction, and then any of the key infrastructure assets. You can see me sort of list the usual suspects there on the right. Before I talk about our group's theory of competition, I wanna talk about RPM's theory of competition. 1947 is the founding of RPM. You see the lone wolf there, very much a strategy of a highly decentralized entrepreneurial structure. Frank always shares great stories of his grandfather with his field sales team out there who had that decision-making authority local, close to the customer. Frank, I always remember that, you know, you educated us that for your grandfather, the customer was the salespeople, but it's not the actual end customer. They were served by his field sales organization. I get up every day maniacally focused on maintaining this decision-making as close to the customer as possible. It's a key tenet that's really helped us outgrow the market by a turn or two over our entire history. When the MAP program got unveiled in Baltimore in November of 2018, it really was saying, okay, there's an inherent amount of operating inefficiency when you're that decentralized. Could we work together as one monolithic team and gain all that operating efficiency of a highly integrated company? Of course, Tim presented on that at our MAP 2025, our second iteration. That's really, for me, the concept of the wolf pack, right? Where if you're familiar with the social dynamics of the wolf pack, that's where the strong look out for those who are less strong. I think that's very much a key theme for what we do as RPM from a theory of competition, and that's certainly what we try to do within our group as part of that strategy. Now I'm gonna shift to our group's theory of competition. When we got together in 2016 to say, okay, what's going to make us unique and different in the marketplace? We realized that we were very, very successful, and we created and drove the market. Now, that's a pretty, I think, audacious or bold statement, not serving the market, that we will create and drive it. I will share some examples with you today, both in this presentation and later on at our test wall, that gives you a sense of how we do that. There are really three tenets to that is platforms. Good platforms make it easy to do good, hard things. IPP is a organization that was founded by Peter Diamandis of XPRIZE fame out there, a private flight to space. If you would do a little bit of research on him and an incredibly dynamic individual. Whenever we're struggling, I always go back to saying either we're not connected properly to the platform, there's a platform issue, or outside of that, and I'll share with you on the next slide what that platform strategy looks like. Solving unique problems. CPG wins when we solve unique problems. PGH, that's me. Those are my initials. But I have stolen that from a number of other people, so that's my own paraphrasing of that. We get up every day looking to solve unique problems that nobody else has been able to solve. For me, the more difficult the problem, probably the bigger the prize, and off we go. That's sort of a key tenet in terms of what we focus on. Of course, if you can solve a unique problem, that is the core foundation of how you create the new market then based on that solution. Then last, the new scientific truth. I'll read this. The new scientific truth does not triumph by convincing its opponents, making them see the light, but rather because its opponents eventually die, and a new generation grows up that is familiar with it. It's been commented to me that's Max Planck, famous physicist, but that's a rather dark quote. It's appropriate for building construction materials, which are very, very slow to change. If you're gonna create and drive the market, it's a generational experience. It's a 20-year journey. Many of the things that we've done, you know, Frank referenced Alumanation 301. That's a roof restoration coating, 1947, right? The roof restoration market, which we're a primary driver of, really didn't gain momentum till we focused on it in 2013. If you do the math, that's not one generation, Frank, that's three or four, right? You have to have the persistence to see that through. If you think of the market as a hockey stick, you live on the blade a torturously long time before you get the benefits of getting up on the stick. Again, that's a key theme. When we go and create and drive the market, it's a 20-year view, and we'll share some things again at the test wall with you, that many of those go back 20, 30, or 40 years, and we're just now gaining momentum in the marketplace. This is what that platform approach looks like. When we got together in 2016, this pyramid was inverted, and really all the power was at a regional business platform level in order to serve the customer. Now all the power and how we're structured sits within our 12 platforms. I'll share a few of these platforms with you today. Then everything else is subordinate to that operationally, our field sales organization, our channels to market, and then again, our regions. It is, I think we're very uniquely structured in the marketplace, that these technology platforms are really the dominant driver and the key organizing strategic principle in the group. This is the first example that I'll touch on. On the right, you see macro trends. These trends will appear on each subsequent slide. I'll just cover these real quick, and then I'll get to the specifics of the slide. The labor shortage, that's not new to anybody. We had a chronic labor shortage long before COVID, and COVID really just absolutely amplified that for us. That's really in all aspects of building construction materials. Less feet in the street. Our competition is continuing to cut their SG&A. We're going in the opposite direction. We are getting more and more SG&A efficient. I would say for every dollar of efficiency, we got $0.50 goes to the house and $0.50 goes into putting more feet in the street. That's a dominant trend out there. We very often hear they only ever see us in the market. They don't see anybody else. Unmaintainable buildings. The building you're in probably doesn't have a manual that says, what do you do? You know, on your car, when the windshield wiper wears out, you don't replace the car, you replace the wiper. Buildings aren't typically built that way. We're in this massive as-built environment. None of it was built to be maintained, so that's a huge opportunity for us. Zero landfill. Of course, that's very prevalent today, and everybody's aware of the reasons we don't wanna put things in landfill. Certainly a primary area of methane. I think just burying our waste is not a very great solution. Energy efficiency is becoming a heightened awareness of that, of course, all the time. Indoor air quality, we're very aware of that because of COVID. But indoor air quality is a lot more than that. It's occupant comfort, and occupant comfort really enhances whether it's a school, your learning ability, or your ability to work, or just your ability to be comfortable with your family. So there's a lot there about occupant comfort. Liquid safety. There's two sides to that. We inherently want a safer workforce, our own workforce or our customers' workforce. But there's also the whole trend in the industry to where people don't want to work in dangerous activities. You're seeing a great difficulty in, especially today's labor shortage, getting people to go to the more difficult trades. A big competitive advantage for us is if our processes and systems and so on are inherently more safe, that's going to make it more competitively compelling. Internet of Things, monitoring, diagnostics, that's of course well known to all of you there. Diagnostics, we're probably the leader in all of the different aspects of the building and infrastructure and our own ability to do diagnostics. If the core strategy you have is restoration, you better be able to diagnose what you're restoring, because you're essentially taking ownership of that structure once you restore it. The chief procurement officer. There's a rule of thumb I use right now that probably a third of all buying decisions are made by people like Tim. They're procurement professionals. The old days of selling to the engineer, your features and benefits, I think are getting more and more difficult. How do we bring value to a chief procurement officer? It's a very different conversation than "Oh, my products or systems are better or solve this problem." Method to buy you see there. Again, the chief procurement officer is gonna often dictate to us, I wanna buy this way, and we need to be able to sell to them that way. Climate change volatility, there's a few key things here. First, it's a lot of construction practices require what I call good weather or a series of days of good weather. That's getting harder and harder to do. If you have construction methods that don't require good weather, that you can do in any sort of inclement or cold weather, you gain advantage. If you can operate in very short windows. If a restoration process takes an hour or two versus three to five days, then you can work in situations traditionally where you couldn't. Of course, we're also getting more severe weather events, and particularly because of this entire as-built environment, both infrastructure and buildings, is more and more dense, right? The level of destruction gets higher and higher. Our ability to have very, very durable structures is becoming more and more compelling. Of course, Hurricane Ian brought that to mind again this past week. Thermal stability and harmony. There are two things that fundamentally attack structures, both infrastructure and buildings. It's UV from the sun, and it's thermal movement and expansion. The ability to solve that, the best building or structure is completely thermally stable. Certainly if you're gonna restore something, whatever you restore, it has to be in harmony with the movement of that structure, right? I'll get to this specific example. I think this is the most famous roof in all of Cleveland. This is Quicken Loans Arena downtown. You see on the left this, it says cost of neglect. That roof, if it's run to failure, that's a $6.8 million cost for the Cavaliers organization. Our primary competitive approach in this market is asset management. Eliminate running to failure. You can kind of see if you get earlier in the process, then you're much more cost effective. We use an expression in roofing, the existing roof you have is the last roof you'll ever need. There's the prevailing thinking in the roofing industry is tear off and replace, and we're about educating the owner about asset management. Then in that asset management approach, bringing our products and systems to bear. The fluid- applied roofing market in North America is approximately $800 million. We're the primary driver of that percentage going up and up, and we're certainly the primary player in that 796. We're the ones creating and driving the market. If the market exists, how do we create it? We're constantly bringing restoration solutions to the market for what was inherently not restorable. This year, something we've been developing for eight years, it's called AlphaGuard. The single largest installed base of roofs out there is gravel surface built up roofs. They've inherently been unrestorable until our AlphaGuard system out there, and that's a big reason we have primary standing with many of the large enterprise customers out there. That, in essence, creates a whole new restoration market for that roof type that didn't exist. On the other side, you see services is roughly 2x the size of the material market. We're the third-largest roofing contractor in North America. Back to the CPO. Often somebody like Tim says, "I want one throat to choke. I don't wanna buy from the manufacturer, have a contractor, and they'll point fingers at each other. Who do I go to?" There's an increasing momentum in the marketplace of wanting to hold one party accountable. We're fairly unique in our ability to be held accountable on a national basis and even on a global basis. We're big players on the right side of that equation. Okay, we talked about one side of the building. Let's talk about the next four sides. You see a before -and-after picture here. You see on the right side the building that this before-and-after picture came from. This is a good example of a building that probably got built in the 1970s, not built to be restored. On the left is something you see where they're trying to solve. In that one interface, you see there are probably seven or eight different areas where you could get air or water intrusion, and they're trying to solve it with a sealant. You'll later on hear from Marcy Tyler, our Director of Building Science. We love our sealants, but sealants can't solve a lot of problems. In this case, the only way to solve something like that is with a gasket system. You see that we have a range of solutions down below, right? There's a cliché that if all you have is a hammer, everything's a nail. One of the things that's unique about us is we have all the different methods of restoration. We don't have any one particular system. There's a range of choices. You see here there's some scaffolding on that building, and I'll quickly kinda go through the macro trends here. Labor shortage. Typically, we walk into a building like this, they've already been presented what I call reskinning, right? You basically have to scaffold and basically take off that façade one floor at a time. The labor, the amount of labor to do that compared to a couple people on a swing stage for a summer to redo this building, a dramatic difference. Less feet in the street. Again, we have a very strong presence in being able to support this type of restoration out in the field. Unmaintainable buildings. We seek out the unsolved problem that says, this building cannot be restored, it cannot be maintained. How do we bring a system to the market to allow you to maintain that, right? We seek that out. Zero landfill, nothing's gonna go in the landfill unless we restore this. Energy efficiency will dramatically improve because all that air, moisture, and thermal leakage going on and that interface will be eliminated. Indoor air quality will be dramatically improved. You cannot control indoor air quality unless you can stop all the leakage going on and keep all of the moisture out of the building. Lead with safety. This is a much safer. People want to do this work, and you're just on a nice swing stage, typically used to clean the windows, as opposed to the scaffolding. Much more dangerous work if you were to reskin that building. The chief procurement officer, again, method to buy. Don't dictate to us how you wanna buy it. All of the different methods to buy, we're very, very prevalent in, and that's a big differentiator for us. Climate change volatility. You can do this work on the rainiest day, on the windiest day, on the coldest day. You can do this work in minus 20 degrees Fahrenheit. I wouldn't want to, right? I think that's a little cruel. You can work in very cold or very hot temperatures or very wet, doesn't matter. Then again, the thermal stability, right? That this solution needs to move with this building. If you've ever been up pretty high in a building, you can feel sometimes movement in its feet, right? You know, two, three feet. Our systems and solutions need to be able to move with that. That's one of the key reasons the sealant won't work. All right, we did two things on restoration. What about if we built new and didn't need to restore at all? We're gonna talk about insulated concrete forms here. That's our Nudura. You'll see that at the test wall. It's a method of construction that we think is the strongest that's out there. Incredibly energy efficient. I'll share with you in this example what those numbers look like. Tremendous amount of comfort. That comfort is the combination of your comfort with the air that's around you, but also the noise. The quietest way to build. More environmentally friendly. From a cradle to cradle life cycle, as you heard Tracy talk about how we're trying to improve our own operations, we think this is the most environmentally friendly way to build. What you see here is a school, Richard B. Allen Elementary School in Kentucky. It was the first school in North America to be net zero. Not only was it net zero, after the first year, they got a check from the utility for $37,000. It was net positive, right? That really created a real stir out there that said, "Hey, not only is this possible, we should expect that." This is really the prevailing method of school construction throughout all of Kentucky. The cost is comparable to a conventional school. Again, I mentioned all that recognition. The photovoltaics that went up on that roof, a school of that size usually is about three football fields for photovoltaics, but because of using ICF, this was only 40,000 sq ft, so you reduce that asset, capital asset cost by 75%. It is the facility in the town you go to when there's a tornado warning. It can withstand winds of over 250 miles an hour, so incredibly durable. In a learning environment, we all know the importance of natural daylight. You'll see in this structure, this is a really large window, so it doesn't really inhibit that, you know, the building's completely impervious concrete structure, but that wouldn't be very people-friendly. The design flexibility of this is unparalleled compared to conventional construction. They have a highly suspended radius wall. It's a pretty unique design element. This school is actually very close to the road, so the original school that was there, very noisy for the students. When you're in that building, it's absolute. Back to the macro trends on the right. Of course, we covered the labor shortage. A very small crew can build this entire wall system compared to the large crew. There's also a speed of construction here, often one to four or one to five, meaning what would take four, five, six, months to do, a small crew can do in one month, so great speed of construction. Of course, I mentioned zero landfill 'cause this building will last as long as you want it to. It's not going to degrade. Tremendous energy efficiency. That's here via the check they received. Indoor air quality because of its ability to inherently control the air, moisture, and thermal, far better than conventional construction. Lead with safety, a much safer way to construct than traditional methods. Climate change and volatility, of course, being very durable, and that's a good thing. You can build this way no matter what the weather is so that there are no inherent weather delays. The thermal stability or harmony. This is 100% thermally stable building. Doesn't contract and expand all built out of concrete. Okay, I'm gonna shift gears here. On my original branding slide, you would've seen Tremco Power of One, and this is an example of one of our hospital customers, and it's an example of bringing things together across our entire group and all of RPM. On this parking garage restoration, there will be Tremco, Willseal, where there are only two companies in the world that do these wide joints. We'll cover with you that later when we post you what's unique and special about us. Euclid, which is on the concrete side. Rust-Oleum for protecting metal. WTI, our own self-perform capability. In this case, that's what the customer wanted. And Fibergrate, which is a sister company for FRP composites on that parking garage. We also did the facade, that's Tremco, and Dryvit for the finishes. Willseal again for the joints. WTI, that was self-perform. And then roofing and HVAC restoration. You've heard plenty about roofing, so we did that on a self-perform basis. Pure Air was a recent acquisition. Everything I told you about roof restoration, we are now pursuing on HVAC and air handling, right? That's a market three times larger than roofing, all built on run to failure. We're already on the roof. We've already persuaded the customer about the benefit of asset management. Why not apply that to your Pure Air equipment? In this case, we did that for that hospital. Certainly, again, the benefit of no tenant disruption, key for a hospital, right? It It needs to run 24/7. Legend Brands, that's an RPM sister company. You'll see later on about the importance of Legend Brands in doing roofing, right? Fibergrate again on the composite side. This is the ability to bring all these different things together. Frank's question from 2016 brought to life with one project, with one customer, one hospital. We talked about platforms within my group. I think it's often not well understood that RPM itself is a terrific platform. I'll give you three quick examples about my group working with the others. The first one is on the CPO side, it's Tremco working with Rust-Oleum, and Rust-Oleum had a terrific relationship with Grainger. There's nobody better than Grainger working with chief procurement officers to optimize your MRO spend. We went to meet with Grainger to say, we'd like to partner with you so you can bring value to the chief procurement officer. We're building restoration and building maintenance. We have a big partnership with Grainger to do that today. Once we learned how to do that, we went to David Dennsteadt, who runs the Performance Coatings Group, and said, "Well, your Carboline, Stonhard, and Fibergrate companies all have the same phenomena we do about how to work with these chief procurement officers. Why don't you come with us? We'll introduce you to Grainger, and we'll partner with you about how to get that up and running." The second example I have is Tremco primarily serves what I call the tier one marketplace in terms of tier one contractors and specified work. There's tier two and three, the DIY. We've really partnered with Rust-Oleum, who excels at DIY and two-step distribution for how we serve the tier two, tier three, and DIY marketplace. A lot of exciting initiatives underway there. The third one, you see the word technology appear over and over. Legend Brands, we'll again show you later on when we host. Mantrose-Haeuser is in a biomaterial. We've been doing a lot of work ourselves on biomaterials, and Mantrose-Haeuser has really educated us on that. DayGlo is a very, very sophisticated resin manufacturer, so a lot of our next generation resins to solve problems that couldn't be solved come from DayGlo. You see that down there, FinishWorks, which has a very interesting business model, which we are piggybacking on in terms of how we go to market, partnering with them. Last but not least is Wood Finishes, who's a high-end player in wood finishes. You see a lot of that, those wood finishes coatings are starting to show up in our own products. Who knew, right, that wood finishes would translate to roofing, but some key breakthroughs there working with them as a partner. In closing, you know, I talked so far, if you listen to me, you'd think you're about selling products and systems. Earlier I mentioned asset management, right? We really want to persuade people on asset management. If you buy into asset management, then you're gonna be receptive to my restoration strategy. In this case, what we're talking about here is fundamentally trying to raise up the industry, right, to better and better building and construction practices. Build once, build right, retain forever, as opposed to run to failure. This is really a summary of us saying our whole emphasis about putting more and more feet in the street so that we can really help everybody be present in the industry. We're very, very unique in being able to do that and invest in that on an ongoing basis. I'm gonna turn it over to Frank for some concluding comments. I'm gonna wrap up our prepared remarks just to kind of summarize some things that we've been talking about. We through the MAP program have developed a culture of collaboration that is serving RPM and our customers and our shareholders exceedingly well. We have been able to marry that entrepreneurial spirit that's the hallmark of kind of our foundational success with operating efficiency. There's a lot more work to do. We've got a strong balance sheet and a very disciplined capital allocation program. That will continue throughout the MAP program in the next few challenging years. Sustainability is an integral part of what we do and who we are. RPM companies have been driving Building a Better World for decades. We have to get together and tell the RPM story. It's what society demands, better, and take all of that success of our businesses and coalesce it into an RPM approach to ESG. Tracy Crandall is really leading that effort both across our businesses to drive those sustainability improvements, but also to better communicate the sustainability story that has been part of RPM for decades. Lastly, I appreciate you all being here because you're gonna get to touch and see, more concretely, with the tour at our Tremco sealants facility, some of the things Paul and the group talked about. I wanna thank Tracy, Tim, and Paul for their presentations this morning, and we have about 25 minutes for any questions that you might have. Everyone just wants to leave their Hey, Frank. Mike Sison, Wells Fargo. Thanks for all the information. Just two questions. When you think about the 5% organic growth, it's been hard for anybody to think of 5% in the last couple of years. Can you maybe talk about how much of that is sort of the economy and what you can do on your own in terms of volume growth? Then just to follow up, what type of free cash flow will you be able to generate over this time frame? Sure. On the growth, when you look over the last 20-year period, our organic growth has been in the neighborhood of, on an average basis, about 5.5%-6%. I don't think these numbers are certainly out of reach. It is organic growth, so it will be a mix of price and unit volume. Certainly, we're benefiting significantly from price this year. I think in Q1, up 15%. We're anticipating that slowing down in the coming years. We think that 5% organic growth number is achieved. On the cash flow, I'll let Rusty address some of the cash flow dynamics. We have not put together for public disclosure the cash flow pieces of this yet. There are critical working capital demands internally in everybody's compensation about net finance that. Can you hear me? Sure. Yeah. When it comes to cash flow, our cash flow results have been poor because of the supply chain challenges. We've had to actually stock up when we can over the last year and again, just to be able to supply and granted, not supply it at the same rates we prefer to supply. That's been a challenge for cash flow. Tim, I know you've looked at the MAP, the goal with regards to working capital and cash flow, so I'll let you comment on that. Yes. We have some work in some targets around improving our working capital. We do expect to improve our working capital as a percent of sales around 400 basis points. It's gonna be largely focused through better processes around our inventory as we right-size our inventory coming off all these supply chain challenges to be a key focus. Thank you. Kevin McCarthy, Vertical Research Partners. I have a three-part question on your MAP program. First, as I look at the sources of savings, it seems as though the majority or perhaps the vast majority would hit the COGS line. Is there a portion of that hits SG&A as well? If so, you know, how much cost savings might there be there? The second part would be what is the cost to implement? Then third, obviously price and raw material costs can wreak havoc or be a tremendous benefit on the gross margin line, basically, as we've seen in recent years. What are you assuming in the plan for price and contribution to raw material costs over? Okay. Kevin, is this on? Yeah. Kevin, the first question again, please. Any SG&A, please. Okay. Our plan is, we do expect to have some small amounts of administration savings, but it will not be material. We're making strategic investment into our growth revenue, and we also have the normal estimated inflation. I did not call that out as a work stream. We still have some opportunities for consolidation around some accounting locations, but it will not be material in the overall answer. I'm sorry. Next question. Yes, please. The cost to implement. On our cost to implement, we are currently looking at is less than $200 million with about half of that through in CapEx. I would just add to that. The original MAP program cost to implement was probably between $200-300 million. The difference is, we were able to consolidate and close 31 manufacturing facilities in the 2020 MAP to Growth. While there will be some modest footprint reduction in MAP 2025, we won't be at the same level. That's the significant difference between a $150-200 million cost to achieve in this program versus the $300 million in the original MAP program. Please, your third question. What are you baking in in terms of your price increases versus raw material costs as it relates to the 42% gross margin? What we would expect, as I mentioned, is that we were cycle high in fiscal year 2022. We have obviously, we're going out with price increases as reported. 15% of our everything Q1 was price. We are still behind on catching up. We actually got sequential inflation as was discussed on the call this first quarter. Right now we haven't seen the peak of that. I do expect that sometime during this period of MAP 2025, that we would get back to a more historic norm. We're just gonna have to, as we go through this the continued inflation, we're gonna have to continue to keep an eye on our increased prices to sample. I would add to that that the permanent savings that we identified in the WAVES plan are roughly 50% process improvements and consolidations that we believe we can affect. The remainder is 50% as a plug number for a commodity cycle benefit. That one I'm certain will be wrong. We'll either get more or less depending on the timing and magnitude of the commodity cycle recovery, and the related ability to maintain our prices. Yeah. Steve Byrne, Bank of America. Maybe just to follow up on Kevin's question. If I understood you right, Frank, half of that $215 is long-term cost deflation? I would split that element of our expected savings roughly in half as we process that we can protect ourselves regardless of economic circumstances, and supply you know commodity cycle benefits. Having said that, a critical element of our success we saw in this original MAP is driving those revenue gains. Because you can be very efficient in your cost price mix, the benefits of that accrete with each additional dollar of sales. If you look at your cost of goods in fiscal 2022 versus 2021, and it went up by around $600 million, how much of that was raws versus— Sounds like, Frank, you're looking at a little over $100 million in savings. How much was raws up in fiscal 2022? The long-term inflation that we had in fiscal 2022 was. Okay. Paul, maybe one for you, and perhaps we'll get into some more detail on that tour. You got a couple of different brands that are involved in, you know, epoxy flooring and so forth. You got a couple of different brands that are involved in concrete mixtures. Do they compete with each other? They did when I got there. Oh. I would say in general, no, meaning there's far better cooperation in terms of how we deal with what we call the white space of the market. I think in many cases that they go to market differently, so they rarely, if ever, collide. The one or two times they do a year, I have sort of the standing rule, please call me first, and then somebody has to make a decision. Even between us and the other RPM groups that exist, there's just a high level of cooperation between me and the other three presidents. I think philosophically, there's a lot of white space in our markets, and we have a lot of different ways to get there. There ends up being some smidge of friction between the circles in that white space. I think what we've done well within RPM now is that at our Group President level, we all talk to each other. Once or twice a year, it gets a little exciting, and we just figure out, and that's the way. Yeah. Joshua Spector with UBS. Just a question about some of the, it's called cross-selling or the different opportunities to sell one product, Construction, Consumer, Performance. You talked a lot about president that's discussing that, but really what level of organization are some of those decisions made where there might be the right product for a different avenue to sell in, where there might be an opportunity? And are employees incentivized in some way to do that financially to encourage more of that? Let me address that from a big picture perspective, and then Paul can maybe address that. As Paul referenced in, and Tim, these prepared remarks, probably the most fundamental change in our 2020 MAP to Growth program was the cultural change at RPM. The level of cooperation, communication, collaboration is extraordinary. For those that have followed RPM 10 years ago, we had six fiefdoms, and they all stayed in their own space, and they all bumped heads, to use a little bit from Paul. We've been talking about Connections Creating Value for 15 years. Through the MAP period, our intra-company connections in terms of insourcing, not just including Portuciana, have grown from $20 million, I think to $660 million. $40 million. $60 -180 million. Sorry. From $60 - 180 million. That gives you a sense of what's happening there within our own businesses. Now I'll let Paul and Tim address the how does that get addressed at the level below the group president level. I think in the beginning, as I referenced, it was very much top-down. There was a strong message from the other group presidents and me that we're going to work together in harmony. Now I think we're four or five years down the road on that. There's a lot of relationships now at a much lower level. You know you're doing something right when they figure out their next strategic how they work together. One other word we use in our group a lot, we call it strategic alignment. In all the sales compensation structure is a strategic. We call it strategic alignment. How does your selling activity line up with the strategy of the company? Right in strategic alignment, specific initiatives with sister companies. Very discrete metrics to where we both reward and punish that behavior. That's quite the journey we've made from not even being able to discuss it to where it's an expectation that it's in everybody's sales comp plan. Yeah. Let me just add on the materials side from like David Dennsteadt's horse and skateboard. We have four facilities that are capable of producing materials that other RPM companies need. Of course, Stonhard is being one of them. RF Poly is another couple within the Tremco organization. We developed a cost-plus model that takes all negotiation out of it. Through the use of the satellite team and the leaders of those organizations, they're able to see how they can help our companies cross-company. It's been very effective, especially during the supply chain shortage. Some of these facilities were really able to step up and bail out some of the other companies when they understood what the need was. Lastly, I focus on one more thing there. Through the MAP to Growth program in this organization, for our four group presidents and group CFOs, some of their senior leaders, we have changed our comp program to be more RPM equity's performance based, but RPM equity is important and more based on RPM consolidated goals. Pre-MAP to Growth with one of our six group presidents, most of your compensation, even when it was equity related, was generated by your performance to your group's operating plan, regardless of what else happened in RPM. We fundamentally changed that at a more senior leader level, and it's got everybody's attention on the big ball. There's only one stock that trades no matter what RPM company you operate in. It's called RPM. That's had a meaningful involvement that raises cooperation for the benefit of the people. John Roberts from Credit Suisse. It would seem like a lot, maybe all the products in the performance group could be in the construction group. I realize they go to different customers and they're more into the upstream part of the business than the downstream part of the business, but it's all construction related. Is keeping it separate as PCG because it has a lot more growth opportunity in that way? You expect to bolt on a lot more things, 'cause you'd probably take out another layer if you were to actually move it over to the construction. Sure. We have consolidated from four to six groups before, and that's had some pretty meaningful benefits. The Performance Coatings Group in particular is Carboline or Stonhard. They serve a more heavy industry capital spend infrastructure. We are in the forefront. We're Intel, big in microelectronics. We're big in pharmaceuticals, power, oil and gas, clean water, waste water, so more heavy infrastructure. Whereas the Construction Products Group serves more of a commercial maintenance and/or new construction element. They do serve different markets and go to market differently. You could bang a lot of this together and get some additional efficiencies. The real question that we constantly balance is, what do you lose in the closeness to the market driving revenue growth perspective if you did that? We think we've got our business is optimized. Paul can maybe explain. We have these discussions. The decision to swap some business units or revenues with the Performance Coatings Group, where I think a candid discussion between David Dennsteadt and Paul Hoogenboom resulted in, hey, these product lines are in your group, but we can serve the market better with them and vice versa. Again, in the old RPM, that would have never happened. Yeah. To build on that, there are parts of the world where we're completely consolidated and either my team leads it or Dave's team leads it. Dave and I constantly talk about very openly and very cooperatively about where we really can get that leverage, especially, and we call it a riskier world, where they're either smaller markets, more difficult markets or a high degree of partnership between us. In the more developed markets like North America, the flooring partner for roofing is Stonhard. You're like, yeah, but you're a big flooring company and you own the roof. But the business model of Stonhard is coupled with roofing, right? Dave and I constantly compare notes as if we're one, you know, company to say, what's the best approach to this? You saw examples of how we work with Carboline and fire with greater Stonhard. We actually have within the CPG comp programs the direct incentives and alignment with where we think we align in the market to where you will work with your sister company. At a local level, the roofing rep and the Stonhard rep are constantly working together on the common customer list, et cetera. A high degree of cooperation at the field level as well. A lot of that's changed, as I referenced earlier, over the last five, six years. Doesn't sound like you'd give up a lot to put it together. I think what you want to maintain is the distinct approach to market. Our biggest asset doesn't show up on our balance sheet. Across RPM, we probably have 2,000-3,000 salespeople, and they are highly experienced, tons of relationships. The thing that we're focused on is that is really helping accelerate growth, and it's part of that CS 168, taking old line sales reps that have deep relationships and know tons about the oil and gas market or tons about water and wastewater, and we are empowering those people. Think of it as empowering people with salesforce.com, which is one thing that we're using. But we're using data in ways that we never had in the past. It's real. It's real to the tune of $2 billion a month in some of our businesses with an outside consulting firm that we build databases and then develop the tools to use them. That's where we're focusing energy over the last year and some of the benefits that we saw in Q1, and that is what will drive this CS 168 release. Our focus more is on using our data. This is a little bit like lean manufacturing disciplines. Not new to the world, but they're new to RPM. When you embrace them, you can see the power in our lower conversion costs. Big data and data lakes and the ability to use data effectively with really interesting tools. It's not quite as old as lean manufacturing disciplines, but it ain't new to the world, but it's new to RPM and some of our sales forces. That's where we're spending our time. One last point on that. Those efforts, John, tend to be driven on a consolidated spend basis, so there is no duplication. We have a shared service center in [Guindy], India. Three years ago, we had 25 people there. This year we have 280. It's IT, it's accounting, it touches every RPM business, including our corporate headquarters. There's already a level of growing consolidation around the things I think you're asking about that we are doing. Look, we have no intention of consolidating sales forces or tech service reps. You heard Paul, and if my grandfather was here, he would tell you the same thing. Four feet on the street to bedroom, he believed that. He believed that if you had a business that was consolidating distribution or consolidating your sales force, ultimately you would have a business whose revenue base is gonna go the wrong way. Now, the key is can we use more modern tools to improve and/or enhance the effectiveness of the sales force that we have? We have time I think for one more question. Hey, John McNulty here from BMO. Frank, I guess a couple of things. First of all, I know on your numbers that you just put up, the other day, it seemed like a lot of the MAP tailwinds were in the consumer businesses. Is that how we should be thinking about it through this whole program, where it's the bulk of it or half that's gonna be there, and the rest are kind of evenly divided? Or has that evened out? Do we see some pretty chunky bits throughout the rest of the group? I guess the other question would just be on the data analytics side. I know you I know you started to allude to some of this before, but data analytics helps on the cost side a lot, but it does sometimes open up revenue opportunities. Can you help us to understand what maybe insights you're seeing that you've learned and that you can use going forward to drive revenue growth opportunities? Sure. Let me address that big picture, and then you have Tim and Paul. Big picture, we have spent a significant amount upfront in the beginning of MAP 2025 on our Consumer Group. It's because of the significant challenges they faced with revenue in 2022. You know, they operated at profitability margin levels that were lower than in their history with RPM. It was a function of the COVID spikes and the challenges and inefficiencies in a lot of our operations. It was exacerbated by the COVID spikes in terms of just scrambling to do whatever we could to be clean. As cleaners fell and as supply chain challenges surfaced, all of that hit our Consumer Group in general and cleaner business in particular. We've spent a significant amount of time. I will tell you that by group, as you saw in the first quarter, a significant portion of our fiscal 2023 benefit, not only, but a significant portion of our 2023 benefit will be coming disproportionately from the recovery in our Consumer Group. Which had a great first quarter, is gonna have a great second quarter, but are still not back to their historic high EBITDA margins. Then I would tell you that in fiscal 2024 and 2025, you will see a much more even distribution of the benefits of MAP 2025 across all our businesses. Tim and Paul may add to that. I think Paul, particularly on the questions around the CS 168, is this just an efficiency thing or does it kind of open up avenues for other revenue? The big change that really took place over the last 10 years is we were inherently structured in field selling bottom up. The local individual would determine their activity, what their focus was. A big change has been from an analytics standpoint, we're now also top-down. In our group, from a top-down management perspective, we do the analytics on the market in terms of what I call where to hunt. Whether it's by market segment, by account, GSA accounts, et cetera, et cetera. We have a top-down, bottom up approach, which is tied to what we call strategic alignment, where we now say, okay, from a sales activity standpoint, where to direct the activity, how to track the activity. Frank referenced Salesforce. None of that existed when I got there. That's now universal and ubiquitous everywhere, and all the groups have done the same thing. Then that also facilitates working between the groups. Like I referenced an initiative with the Consumer Group for tier two, three, and the DIY. They excel at tracking that, so they're the ones doing all their analytics on where to hunt and how to hunt. Then our field sales organization executes against it. Frank, as you referenced, these are not new. This is RPM. I would add to that, Kat, to your last part of your question. There will be some opportunities that come up because some of our company efforts will be to pool our data on a consolidated basis. It's hard to know today what would come out of that. The selling tools won't necessarily be specific to the large SBUs, but the ability to look at massive amounts of data, not only within groups of big SBUs, but across RPM, I think it's gonna reveal some interesting things for us, but we're not there yet, but we'll get there. Tim, anything to add to that? No. No. I was just gonna do a southern part of the world. That's where that's coming up. I think we have to get on the bus here to head over to our Tremco sealant plant. Just wanna conclude for the people that are listening online. Thank you for your participation today, for your interest in RPM. We certainly are living in an unprecedented, at least in modern, economic history, just volatile and uncertain period of time. I'll conclude with, you know, we've laid out the details here. Certainly it will be revenue specific as to how much of that hits our bottom line. Out of $465 million in expected improvements and/or efficiencies in MAP 2025, I believe there's $300 million plus that are elements that are within our control. We're really excited about executing on this plan, and we will communicate our performance to the plan that we laid out today as we communicate our quarter results starting in the fourth quarter. I wanna thank everybody for their participation. Those that are going to the Temple plant, we're grateful for your presence, and I think your investment of time and some expense to get here will be well rewarded. Thank you to Tracy, Rusty, Tim, and Paul for presenting today. We're grateful for your investment in RPM. Thank you.