Earnings release
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Exhibit 99.1 Investor Relations Investor@mvwc.com Cameron Klaus media@mvwc.com Marriott Vacations Worldwide Reports Third Quarter 2026 Financial Results ORLANDO, Fla. – November 4, 2026 – Marriott Vacations Worldwide Corporation (NYSE: VAC) (“MVW,” the “Company,” “we” or “our”) reported financial results for the third quarter of 2026. Third Quarter 2026 Highlights • Contract sales increased 29% year over year to $565 million in the quarter. • VPG was $4,822, 30% above last year. • Development profit increased 97% to $142 million versus the prior year. • Net income attributable to common stockholders was $82 million compared to net loss attributable to common stockholders of $2 million in the prior year and diluted earnings per share was $2.24 compared to diluted loss per share of $0.07 in the prior year. • Adjusted net income attributable to common stockholders increased 47% to $98 million and adjusted diluted earnings per share increased 56% to $2.64. • Adjusted EBITDA increased 27% to $216 million compared to $170 million in the prior year. • The Company raised the midpoint of its full-year Contract Sales and Adjusted EBITDA guidance to $2,130 million and $820 million, respectively. The increase is despite an estimated $16 million adverse impact to Adjusted EBITDA from Hurricane Lowell in the second half of 2026. “We are very pleased with our third quarter financial results, as they demonstrate the substantive momentum in our business, on the heels of our strong second quarter. Further, they reflect the continued success of the strategies we began implementing in the second quarter as part of the transformation now underway. By way of example, VPG increased to an industry leading $4,822, 30% above last year, and our operating discipline drove 27% Adjusted EBITDA growth,” said Matt Avril, Chief Executive Officer. “Our emphasis on differentiating Owner experiences such as our Inner Circle by Aflac events platform - which features curated regional and national entertainment - are fueling our sales success.” In the tables that follow “*” denotes Non-GAAP Financial Measures. Please see page A-17 for additional information about our reasons for providing these alternative financial measures and limitations on their use. Additionally, in the tables below “†” denotes prior year amounts that have been reclassified to conform with our current year presentation and “NM” means not meaningful. Please see page A-17 for additional information about our prior year reclassifications.
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Marriott Vacations Worldwide Reports Third Quarter 2026 Financial Results / 2 Vacation Ownership Three Months Ended Change(In millions, except volume per guest (“VPG”) and tours) September 30,2026 September 30,2025 Revenues excluding cost reimbursements $ 857 $ 748 15% Contract sales $ 565 $ 439 29% VPG $ 4,822 $ 3,700 30% Tours 107,687 109,609 (2%) Segment financial results attributable to commonstockholders $ 220 $ 139 58% Segment margin 25.7% 18.6% 710 bps Segment Adjusted EBITDA* $ 255 $ 195 30% Segment Adjusted EBITDA margin* 29.6% 26.1% 350 bps Contract sales increased 29% compared to the prior year. VPG increased 30% year over year driven by higher average transaction size from better sales execution, and the product and operational enhancements implemented in the second quarter. Tours in North America increased 4% year over year driven by higher owner connection rates and the 2% decline in total tours was attributable to the Company’s purposeful actions to prioritize higher profitability and cash flow in the Asia‐Pacific region. During the third quarter the Company recorded a 14.8% sales reserve as a percentage of contract sales compared to 13.4% in the second quarter driven by the origination of an additional $60 million of receivables. While the higher level of originations increased the current-period sales reserve, these additional receivables are expected to generate incremental financing profit over time. Segment Adjusted EBITDA increased primarily due to higher contract sales and lower average cost of vacation ownership products, partially offset by lower rental profit as a result of higher inventory costs and the partial closure of five resorts in Kauai, Hawaii, attributable to damages from Hurricane Lowell. Segment Adjusted EBITDA margin increased primarily due to lower sales and marketing as a percentage of revenue and lower product cost rates. Exchange & Third-Party Management (In millions, except total active Interval International members and averagerevenue per member) Three Months Ended ChangeSeptember 30,2026 September 30,2025 Revenues excluding cost reimbursements $ 48 $ 51 (5%) Total active Interval International members (000's) 1,480 1,499 (1%) Average revenue per Interval International member $ 37 $ 38 (2%) Segment financial results attributable to commonstockholders $ 16 $ 16 10% Segment margin 34.4% 29.7% 470 bps Segment Adjusted EBITDA* $ 21 $ 21 1% Segment Adjusted EBITDA margin* 44.7% 42.3% 240 bps Includes members at the end of each period. Revenues excluding cost reimbursements declined 5% to $48 million driven by lower exchange and other transaction revenue at Interval International, and Segment Adjusted EBITDA remained flat. Corporate and Other General and administrative costs increased $18 million in the third quarter compared to the prior year primarily due to higher incentive compensation. † † (1) † † (1)
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Marriott Vacations Worldwide Reports Third Quarter 2026 Financial Results / 3 Capital Markets Activity During the quarter, the Company generated $66 million of net proceeds through the sale of Asia Pacific vacation ownership notes receivable at an interest rate of 6.70%. Additionally, subsequent to the end of the third quarter, the Company completed a $460 million term securitization with a weighted average coupon of 5.91% and a 98% advance rate. Balance Sheet and Liquidity The Company ended the quarter with approximately $1.1 billion in liquidity, including $229 million of cash and cash equivalents and $776 million of available capacity under its revolving corporate credit facility. The Company had $3.0 billion of corporate debt and $2.4 billion of non-recourse debt related to its securitized vacation ownership notes receivable at the end of the third quarter. The Company’s net corporate leverage ratio declined to 3.6 times in the third quarter compared to 4.0 times at the end of the second quarter. The Company also had $906 million of inventory at the end of the quarter, including $227 million classified as a component of Property and equipment. Share Repurchase Authorization The Board of Directors authorized the extension of the remaining $322 million share repurchase authorization from December 31, 2026 to December 31, 2027. Full Year 2026 Outlook The Company updated its full year 2026 guidance as reflected in the chart below. The current guidance includes an estimated $16 million adverse impact to Adjusted EBITDA from Hurricane Lowell in Kauai. (in millions, except per share amounts) Current2026 Guidance Previous2026 Guidance Contract sales $2,120 to $2,140 $2,080 to $2,115 Adjusted EBITDA* $810 to $830 $805 to $830 Adjusted net income attributable to commonstockholders* $315 to $335 $300 to $330 Adjusted earnings per share - diluted* $8.65 to $9.15 $8.25 to $9.05 Adjusted free cash flow* $410 to $430 $410 to $460 The guidance provided above excludes impacts from certain asset sales, foreign currency changes, restructuring costs, litigation charges, modernization costs, and impairments, each of which the Company cannot forecast with sufficient accuracy to factor them into the guidance provided above and without unreasonable efforts, and which may be significant. As a result, the full year 2026 outlook is presented only on a non-GAAP basis and is not reconciled to the most comparable GAAP measures. Where one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results. During the first quarter of 2026, the Company began including interest expense associated with its warehouse credit facility borrowings as a component of consumer financing interest expense. In the third quarter of 2026, interest expense on warehouse credit facility borrowings was $4 million. The Company’s 2026 guidance is based on the following supplemental estimates: ($ in millions) Current2026 Guidance Previous2026 Guidance Interest expense, net $176 to $174 $178 to $174 Depreciation and amortization $135 to $133 $140 to $138 Tax rate used to calculate adjusted net income attributable to common stockholders 30% to 29% 31% to 29%
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Marriott Vacations Worldwide Reports Third Quarter 2026 Financial Results / 4 Non-GAAP Financial Information Non-GAAP Financial Measures are reconciled and adjustments are shown and described in further detail in the Financial Schedules that follow. Please see page A-17 for additional information about our reasons for providing these alternative financial measures and limitations on their use. In addition to the foregoing Non-GAAP Financial Measures, we present certain key metrics as performance measures which are further described in our most recent Annual Report on Form 10-K, and which may be updated in our periodic filings with the U.S. Securities and Exchange Commission. Third Quarter 2026 Financial Results Conference Call The Company will hold a conference call on November 4, 2026 at 8:30 a.m. ET to discuss these financial results and provide an update on business conditions. Participants may access the call by dialing 877-407-8289 or 201- 689-8341 for international callers. A live webcast of the call will also be available in the Investor Relations section of the Company's website at ir.mvwc.com. An audio replay of the conference call will be available for 30 days on the Company’s website. About Marriott Vacations Worldwide Corporation Marriott Vacations Worldwide Corporation is a leading global vacation company that offers vacation ownership, exchange, rental and resort and property management, along with related businesses, products, and services. The Company has 120 vacation ownership resorts and approximately 650,000 owner families in a diverse portfolio that includes some of the most iconic vacation ownership brands. The Company also operates an exchange network and membership programs comprised of more than 3,200 affiliated resorts in over 90 countries and territories, and provides management services to other resorts and lodging properties. As a leader and innovator in the vacation industry, the Company upholds the highest standards of excellence in serving its customers, investors and associates while maintaining exclusive, long-term relationships with Marriott International, Inc. and an affiliate of Hyatt Hotels Corporation for the development, sales and marketing of vacation ownership products and services. For more information, please visit www.marriottvacationsworldwide.com. The Company routinely posts important information, including news releases, announcements and other statements about its business and results of operations, that may be deemed material to investors on the Investor Relations section of the Company’s website, www.marriottvacationsworldwide.com. The Company uses its website as a means of disclosing material, nonpublic information and for complying with the Company’s disclosure obligations under Regulation FD. Investors should monitor the Investor Relations section of the Company’s website in addition to following the Company’s press releases, filings with the SEC, public conference calls and webcasts. Note on forward-looking statements This press release and accompanying schedules contain “forward-looking statements” within the meaning of federal securities laws, including statements about expectations, plans, objectives, outlook and prospects for future performance and growth; expected asset dispositions; and its full year 2026 outlook and guidance for contract sales, results of operations and cash flows. Forward-looking statements include all statements that are not historical facts and can be identified by the use of forward-looking terminology such as the words “believe,” “expect,” “plan,” “intend,” “anticipate,” “estimate,” “predict,” “potential,” “continue,” “may,” “might,” “should,” “could” or the negative of these terms or similar expressions. The Company cautions you that these statements are not guarantees of future performance and are subject to numerous and evolving risks and uncertainties that we may not be able to predict or assess, such as: uncertainty in the current global macroeconomic environment created by rapid governmental policy and regulatory changes, including those affecting international trade or travel; future health crises and related governmental responses and their potential adverse effects; variations in demand for vacation ownership and exchange products and services; failure of vendors and other third parties to timely comply with their contractual obligations; worker absenteeism; our ability to attract and retain our global workforce; price inflation; difficulties associated
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Marriott Vacations Worldwide Reports Third Quarter 2026 Financial Results / 5 with implementing new or maintaining existing technologies; the ability to integrate artificial intelligence (“AI”) technologies successfully while managing and mitigating related operational, legal, intellectual property, data security and reputational risks; changes in privacy and other laws and regulations affecting our business; instability, disruptions, or distress in the banking system or financial institutions; impacts of severe weather events, climate conditions or natural or man-made disasters; delinquency and default rates in our financing business; global supply chain disruptions; volatility in the international and national economies and credit markets; the impacts of ongoing global conflicts and related sanctions or geopolitical measures; competitive conditions; the availability of capital to finance growth; the impact of changes in interest rates; the effects of steps we have taken and may continue to take to reduce operating costs and accelerate growth and profitability; political or social strife; and other matters referred to under the heading “Risk Factors” in our most recent Annual Report on Form 10-K, and which may be updated in our future periodic filings with the U.S. Securities and Exchange Commission. All forward-looking statements in this press release are made as of the date of this press release and the Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. There may be other risks and uncertainties that we cannot predict at this time or that we currently do not expect will have a material adverse effect on our financial position, results of operations or cash flows. Any such risks could cause our results to differ materially from those we express in forward-looking statements. Financial Schedules Follow
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MARRIOTT VACATIONS WORLDWIDE CORPORATION FINANCIAL SCHEDULES QUARTER 3, 2026 TABLE OF CONTENTS Summary Financial Information and Adjusted EBITDA by Segment A-1 Interim Consolidated Statements of Income A-2 Adjusted Net Income Attributable to Common Stockholders Adjusted Earnings Per Share - Diluted A-3 Adjusted EBITDA A-4 Segment Adjusted EBITDA Vacation Ownership Exchange & Third-Party Management A-5 Contract Sales to Development Profit A-6 Supplemental Information A-7 to A-10 Interim Consolidated Balance Sheets A-11 Interim Consolidated Statements of Cash Flows A-12 Free Cash Flow and Adjusted Free Cash Flow A-14 2026 Outlook - Adjusted Free Cash Flow A-15 Quarterly Operating Metrics A-16 Non-GAAP Financial Measures A-17
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A-1 MARRIOTT VACATIONS WORLDWIDE CORPORATION SUMMARY FINANCIAL INFORMATION (In millions, except per share amounts) (Unaudited) Three Months Ended Change% Nine Months Ended Change%September 30,2026 September 30,2025 September 30,2026 September 30,2025 GAAP Measures Revenues $ 1,367 $ 1,263 8% $ 3,944 $ 3,709 6% Revenues excluding costreimbursements $ 921 $ 812 14% $ 2,668 $ 2,478 8% Income before incometaxes and noncontrollinginterests $ 113 $ 1 NM $ 272 $ 197 39% Net income (loss)attributable to commonstockholders $ 82 $ (2) NM $ 181 $ 123 47% Diluted shares 38.6 34.9 10% 38.2 41.9 (9%) Earnings (loss) per share- diluted $ 2.24 $ (0.07) NM $ 5.07 $ 3.27 55% Non-GAAP Measures* Adjusted EBITDA $ 216 $ 170 27% $ 592 $ 565 5% Adjusted pretax income $ 126 $ 78 63% $ 324 $ 294 10% Adjusted net incomeattributable to commonstockholders $ 98 $ 66 47% $ 225 $ 208 8% Adjusted earnings pershare - diluted $ 2.64 $ 1.69 56% $ 6.21 $ 5.31 17% * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additional informationabout our reasons for providing these alternative financial measures and limitations on their use.
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A-2 MARRIOTT VACATIONS WORLDWIDE CORPORATION INTERIM CONSOLIDATED STATEMENTS OF INCOME (In millions, except per share amounts) (Unaudited) Three Months Ended Nine Months Ended September 30,2026 September 30,2025 September 30,2026 September 30,2025 REVENUES Sale of vacation ownership products $ 459 $ 358 $ 1,232 $ 1,083 Management and exchange 212 214 653 648 Rental 155 150 504 479 Financing 95 90 279 268 Cost reimbursements 446 451 1,276 1,231 TOTAL REVENUES 1,367 1,263 3,944 3,709 EXPENSES Cost of vacation ownership products 49 52 138 135 Marketing and sales 268 234 791 705 Management and exchange 116 118 357 356 Rental 143 129 423 377 Financing 45 38 128 111 Royalty fee 29 29 86 85 General and administrative 71 53 197 175 Depreciation and amortization 33 38 99 114 Litigation charges (2) 4 (1) 16 Modernization 6 53 32 97 Restructuring 10 — 16 — Impairment — 31 — 33 Cost reimbursements 446 451 1,276 1,231 TOTAL EXPENSES 1,214 1,230 3,542 3,435 Gains and other income, net 3 11 1 48 Interest expense, net (43) (43) (130) (125) Other — — (1) — INCOME BEFORE INCOME TAXES ANDNONCONTROLLING INTERESTS 113 1 272 197 Provision for income taxes (31) (3) (91) (73) NET INCOME (LOSS) 82 (2) 181 124 Net income attributable to noncontrollinginterests — — — (1) NET INCOME (LOSS) ATTRIBUTABLE TOCOMMON STOCKHOLDERS $ 82 $ (2) $ 181 $ 123 EARNINGS (LOSS) PER SHAREATTRIBUTABLE TO COMMONSTOCKHOLDERS Basic shares 34.8 34.9 34.7 35.0 Basic $ 2.37 $ (0.07) $ 5.23 $ 3.52 Diluted shares 38.6 34.9 38.2 41.9 Diluted $ 2.24 $ (0.07) $ 5.07 $ 3.27 Prior year amounts have been reclassified to conform with our current year presentation. Please see “Non-GAAP Financial Measures” for additional information. † † †
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A-3 MARRIOTT VACATIONS WORLDWIDE CORPORATION ADJUSTED NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS AND ADJUSTED EARNINGS PER SHARE - DILUTED (In millions, except per share amounts) (Unaudited) Three Months Ended Nine Months Ended September 30,2026 September 30,2025 September 30,2026 September 30,2025 Net income (loss) attributable to commonstockholders $ 82 $ (2) $ 181 $ 123 Provision for income taxes 31 3 91 73 Income before income taxes attributable tocommon stockholders 113 1 272 196 Certain items: Gain on disposition of hotel, land, andother — — (2) — Foreign currency (3) (2) 2 (23) Insurance proceeds — (8) — (16) Change in indemnification asset — (1) 5 (4) Change in estimates relating to pre-acquisition contingencies — — (4) (2) Other — — (2) (3) Gains and other income, net (3) (11) (1) (48) Litigation charges (2) 4 (1) 16 Modernization 6 53 32 97 Restructuring 10 — 16 — Impairment — 31 — 33 Other 2 — 6 — Adjusted pretax income* 126 78 324 294 Provision for income taxes (28) (12) (99) (86) Adjusted net income attributable tocommon stockholders* $ 98 $ 66 $ 225 $ 208 Diluted shares 38.6 42.0 38.2 41.9 Adjusted earnings per share - Diluted* $ 2.64 $ 1.69 $ 6.21 $ 5.31 * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additional information about our reasons for providing these alternative financial measures and limitations on their use. Prior year amounts have been reclassified to conform with our current year presentation. Please see “Non- GAAP Financial Measures” for additional information. † † †
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A-4 MARRIOTT VACATIONS WORLDWIDE CORPORATION ADJUSTED EBITDA (In millions) (Unaudited) Three Months Ended Nine Months Ended September 30,2026 September 30,2025 September 30,2026 September 30,2025 Net income (loss) attributable to commonstockholders $ 82 $ (2) $ 181 $ 123 Interest expense, net 43 43 130 125 Provision for income taxes 31 3 91 73 Depreciation and amortization 33 38 99 114 Share-based compensation 12 9 34 28 Amortization of cloud computing softwareimplementation costs 2 2 5 4 Certain items: Gain on disposition of hotel, land, andother — — (2) — Foreign currency (3) (2) 2 (23) Insurance proceeds — (8) — (16) Change in indemnification asset — (1) 5 (4) Change in estimates relating to pre-acquisition contingencies — — (4) (2) Other — — (2) (3) Gains and other income, net (3) (11) (1) (48) Litigation charges (2) 4 (1) 16 Modernization 6 53 32 97 Restructuring 10 — 16 — Impairment — 31 — 33 Other 2 — 6 — Adjusted EBITDA* $ 216 $ 170 $ 592 $ 565 Adjusted EBITDA Margin* 23.4% 20.9% 22.2% 22.8% * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additionalinformation about our reasons for providing these alternative financial measures and limitations on their use. Prior year amounts have been reclassified to conform with our current year presentation. Please see “Non-GAAP Financial Measures” for additional information. † † †
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A-5 MARRIOTT VACATIONS WORLDWIDE CORPORATION (In millions) (Unaudited) VACATION OWNERSHIP SEGMENT ADJUSTED EBITDA Three Months Ended Nine Months Ended September 30,2026 September 30,2025 September 30,2026 September 30,2025 Segment financial results attributable tocommon stockholders $ 220 $ 139 $ 606 $ 534 Depreciation and amortization 24 26 70 80 Share-based compensation 3 3 7 7 Amortization of cloud computing softwareimplementation costs 1 1 4 3 Certain items: Gain on disposition of hotel, land, andother — — (2) — Insurance proceeds — (8) — (15) Change in estimates relating to pre-acquisition contingencies — — (4) (2) Other (1) — (1) (1) Gains and other income, net (1) (8) (7) (18) Litigation charges (2) 3 (1) 10 Restructuring 9 — 9 — Impairment — 31 — 31 Other 1 — 1 — Segment Adjusted EBITDA* $ 255 $ 195 $ 689 $ 647 Segment Adjusted EBITDA Margin* 29.6% 26.1% 27.9% 28.4% EXCHANGE & THIRD-PARTY MANAGEMENT SEGMENT ADJUSTED EBITDA Three Months Ended Nine Months Ended September 30,2026 September 30,2025 September 30,2026 September 30,2025 Segment financial results attributable tocommon stockholders $ 16 $ 16 $ 52 $ 50 Depreciation and amortization 4 6 14 20 Share-based compensation 1 — 2 1 Certain items: Impairment — — — 2 Other — (1) (1) (1) Segment Adjusted EBITDA* $ 21 $ 21 $ 67 $ 72 Segment Adjusted EBITDA Margin* 44.7% 42.3% 44.3% 45.8% * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additionalinformation about our reasons for providing these alternative financial measures and limitations on their use. Prior year amounts have been reclassified to conform with our current year presentation. Please see “Non-GAAP Financial Measures” for additional information. † † † †
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A-6 MARRIOTT VACATIONS WORLDWIDE CORPORATION CONTRACT SALES TO DEVELOPMENT PROFIT (In millions) (Unaudited) Three Months Ended Nine Months Ended September 30,2026 September 30,2025 September 30,2026 September 30,2025 Contract sales $ 565 $ 439 $ 1,521 $ 1,304 Less resales contract sales (11) (7) (27) (23) Contract sales, net of resales 554 432 1,494 1,281 Plus: Settlement revenue 12 10 34 30 Resales revenue 5 4 11 13 Revenue recognition adjustments: Reportability (3) (5) (25) 2 Sales reserve (82) (57) (204) (165) Other (27) (26) (78) (78) Sale of vacation ownership products 459 358 1,232 1,083 Less: Cost of vacation ownership products (49) (52) (138) (135) Marketing and sales (268) (234) (791) (705) Development Profit $ 142 $ 72 303 243 Development Profit Margin 31.0% 20.2% 24.6% 22.4% Adjustment for sales incentives that will not be recognized as Sale of vacation ownership products revenue andother adjustments to Sale of vacation ownership products revenue. (1) (1)
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A-7 MARRIOTT VACATIONS WORLDWIDE CORPORATION SUPPLEMENTAL INFORMATION (In millions and Unaudited) Three Months Ended September 30,2026 September 30,2025 Change DEVELOPMENT PROFIT Sale of vacation ownership products revenue $ 459 $ 358 28% Cost of vacation ownership products expense (49) (52) 4% Marketing and sales expense (268) (234) (14%) Development Profit 142 72 97% Development Profit Margin 31.0% 20.2% 1,080 bps MANAGEMENT AND EXCHANGE PROFIT Vacation Ownership Segment 157 158 —% Exchange & Third-Party Management Segment 39 43 (7%) Corporate and Other 16 13 23% Management and Exchange Revenue 212 214 —% Vacation Ownership Segment (70) (72) 3% Exchange & Third-Party Management Segment (28) (30) 9% Corporate and Other (18) (16) (16%) Management and Exchange Expense (116) (118) 2% Management and Exchange Profit 96 96 2% Management and Exchange Profit Margin 45.2% 44.3% 90 bps RENTAL PROFIT Vacation Ownership Segment 146 142 4% Exchange & Third-Party Management Segment 9 8 6% Corporate and Other — — NM Rental Revenue 155 150 4% Vacation Ownership Segment (146) (132) (10%) Exchange & Third-Party Management Segment — — NM Corporate and Other 3 3 (18%) Rental Expense (143) (129) (11%) Rental Profit 12 21 (40%) Rental Profit Margin 8.3% 14.3% (600 bps) FINANCING PROFIT Financing Revenue 95 90 4% Financing Expense (45) (38) (19%) Financing Profit 50 52 (6%) Financing Profit Margin 52.0% 57.8% (580 bps) OTHER General and administrative (71) (53) (33%) Royalty fee (29) (29) (3%) Other 16 11 47% ADJUSTED EBITDA* $ 216 $ 170 27% Adjusted EBITDA Margin 23.4% 20.9% 250 bps * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additional information about our reasons forproviding these alternative financial measures and limitations on their use. Amounts included in Corporate and other represent the impact of the consolidation of certain owners’ associations under the FinancialAccounting Standards Board Accounting Standard Codification Topic 810, “Consolidation,” and represents the portion attributable to individualor third-party vacation ownership interest owners. Includes share-based compensation, amortization of cloud computing software implementation costs, net income or loss attributable tononcontrolling interests, and other. NM = Not meaningful (1) (1) (1) (1) (2) (1) (2)
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A-8 MARRIOTT VACATIONS WORLDWIDE CORPORATION SUPPLEMENTAL INFORMATION (In millions and Unaudited) Nine Months Ended September 30,2026 September 30,2025 Change DEVELOPMENT PROFIT Sale of vacation ownership products revenue $ 1,232 $ 1,083 14% Cost of vacation ownership products expense (138) (135) (2%) Marketing and sales expense (791) (705) (12%) Development Profit 303 243 25% Development Profit Margin 24.6% 22.4% 220 bps MANAGEMENT AND EXCHANGE PROFIT Vacation Ownership Segment 479 478 —% Exchange & Third-Party Management Segment 125 130 (3%) Corporate and Other 49 40 21% Management and Exchange Revenue 653 648 1% Vacation Ownership Segment (215) (220) 2% Exchange & Third-Party Management Segment (86) (88) 3% Corporate and Other (56) (48) (17%) Management and Exchange Expense (357) (356) —% Management and Exchange Profit 296 292 2% Management and Exchange Profit Margin 45.3% 45.0% 30 bps RENTAL PROFIT Vacation Ownership Segment 478 451 6% Exchange & Third-Party Management Segment 26 28 (8%) Corporate and Other — — NM Rental Revenue 504 479 5% Vacation Ownership Segment (432) (387) (12%) Exchange & Third-Party Management Segment — — NM Corporate and Other 9 10 (15%) Rental Expense (423) (377) (12%) Rental Profit 81 102 (20%) Rental Profit Margin 16.2% 21.4% (520 bps) FINANCING PROFIT Financing Revenue 279 268 4% Financing Expense (128) (111) (16%) Financing Profit 151 157 (4%) Financing Profit Margin 54.0% 58.6% (460 bps) OTHER General and administrative (197) (175) (13%) Royalty fee (86) (85) (2%) Other 44 31 40% ADJUSTED EBITDA* $ 592 $ 565 5% Adjusted EBITDA Margin 22.2% 22.8% (60 bps) * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additional information about our reasons forproviding these alternative financial measures and limitations on their use. Amounts included in Corporate and other represent the impact of the consolidation of certain owners’ associations under the FinancialAccounting Standards Board Accounting Standard Codification Topic 810, “Consolidation,” and represents the portion attributable to individualor third-party vacation ownership interest owners. Includes share-based compensation, amortization of cloud computing software implementation costs, net income or loss attributable tononcontrolling interests, and other. NM = Not meaningful (1) (1) (1) (1) (2) (1) (2)
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A-9 MARRIOTT VACATIONS WORLDWIDE CORPORATION SUPPLEMENTAL INFORMATION - MANAGEMENT AND EXCHANGE REVENUE (In millions and Unaudited) Three Months Ended September 30,2026 September 30,2025 Change ANCILLARY REVENUE Vacation Ownership Segment $ 67 $ 69 (2%) Exchange & Third-Party Management Segment 1 1 —% Corporate and Other — — NM Ancillary Revenue 68 70 (2%) MANAGEMENT FEE REVENUE Vacation Ownership Segment 56 56 —% Exchange & Third-Party Management Segment 1 2 (20%) Corporate and Other (1) (1) (1%) Management Fee Revenue 56 57 (1%) EXCHANGE AND OTHER SERVICES REVENUE Vacation Ownership Segment 34 33 3% Exchange & Third-Party Management Segment 37 40 (7%) Corporate and Other 17 14 22% Exchange and Other Services Revenue 88 87 2% TOTAL MANAGEMENT AND EXCHANGE REVENUE $ 212 $ 214 —% Amounts included in Corporate and other represent the impact of the consolidation of certain owners’ associations under the Financial Accounting Standards Board Accounting Standard Codification Topic 810, “Consolidation,” and represents the portion attributable to individual or third-party vacation ownership interest owners. (1) (1) (1) (1)
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A-10 MARRIOTT VACATIONS WORLDWIDE CORPORATION SUPPLEMENTAL INFORMATION - MANAGEMENT AND EXCHANGE REVENUE (In millions and Unaudited) Nine Months Ended September 30,2026 September 30,2025 Change ANCILLARY REVENUE Vacation Ownership Segment $ 206 $ 209 (1%) Exchange & Third-Party Management Segment 3 3 5% Corporate and Other — — NM Ancillary Revenue 209 212 (1%) MANAGEMENT FEE REVENUE Vacation Ownership Segment 168 166 1% Exchange & Third-Party Management Segment 5 6 (12%) Corporate and Other (2) (2) (1%) Management Fee Revenue 171 170 —% EXCHANGE AND OTHER SERVICES REVENUE Vacation Ownership Segment 105 103 3% Exchange & Third-Party Management Segment 117 121 (3%) Corporate and Other 51 42 20% Exchange and Other Services Revenue 273 266 3% TOTAL MANAGEMENT AND EXCHANGE REVENUE $ 653 $ 648 1% Amounts included in Corporate and other represent the impact of the consolidation of certain owners’ associations under the Financial Accounting Standards Board Accounting Standard Codification Topic 810, “Consolidation,” and represents the portion attributable to individual or third-party vacation ownership interest owners. (1) (1) (1) (1)
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A-11 MARRIOTT VACATIONS WORLDWIDE CORPORATION INTERIM CONSOLIDATED BALANCE SHEETS (In millions, except share and per share data) Unaudited September 30,2026 December 31,2025 ASSETS Cash and cash equivalents $ 229 $ 406 Restricted cash (including $98 and $81 from VIEs, respectively) 304 327 Accounts and contracts receivable, net (including $17 and $15 from VIEs,respectively) 419 428 Vacation ownership notes receivable, net (including $2,191 and $1,900 fromVIEs, respectively) 2,676 2,565 Inventory 679 692 Property and equipment, net 936 950 Goodwill 2,958 2,958 Intangibles, net 665 711 Other (including $188 and $168 from VIEs, respectively) 603 720 TOTAL ASSETS $ 9,469 $ 9,757 LIABILITIES AND EQUITY Accounts payable $ 227 $ 358 Advance deposits 167 163 Accrued liabilities (including $4 and $4 from VIEs, respectively) 388 376 Deferred revenue and other 358 371 Payroll and benefits liability 233 218 Deferred compensation liability 242 225 Securitized debt, net (including $2,450 and $2,173 from VIEs, respectively) 2,422 2,146 Debt, net 2,977 3,534 Other 123 142 Deferred taxes 213 231 TOTAL LIABILITIES 7,350 7,764 Preferred stock — $0.01 par value; 2,000,000 shares authorized; none issuedor outstanding — — Common stock — $0.01 par value; 100,000,000 shares authorized; 75,934,456 and 75,891,531 shares issued, respectively 1 1 Treasury stock — at cost; 41,515,500 and 41,767,498 shares, respectively (2,412) (2,427) Additional paid-in capital 4,011 3,996 Accumulated other comprehensive loss (13) (11) Retained earnings 532 434 TOTAL MVW STOCKHOLDERS' EQUITY 2,119 1,993 Noncontrolling interests — — TOTAL EQUITY 2,119 1,993 TOTAL LIABILITIES AND EQUITY $ 9,469 $ 9,757 The abbreviation VIEs above means Variable Interest Entities. Includes $227 million and $224 million at September 30, 2026 and December 31, 2025, respectively, of completed vacation ownership units which are classified as a component of Property and equipment, net until the time at which they are available and legally registered for sale as vacation ownership products. (1) (1)
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A-12 MARRIOTT VACATIONS WORLDWIDE CORPORATION INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions and unaudited) Nine Months Ended September 30,2026 September 30,2025 OPERATING ACTIVITIES Net income $ 181 $ 124 Adjustments to reconcile net income to net cash, cash equivalents, andrestricted cash provided by operating activities: Depreciation and amortization of intangibles 99 114 Amortization of debt discount and issuance costs 16 18 Vacation ownership notes and contracts receivable reserve 205 165 Share-based compensation 34 28 Impairment — 33 Foreign currency remeasurement loss (gain) 2 (23) Deferred income taxes (16) 15 Net change in assets and liabilities: Accounts and contracts receivable (1) (13) Vacation ownership notes receivable originations (887) (766) Vacation ownership notes receivable collections 581 519 Inventory 22 22 Other assets 68 27 Accounts payable, advance deposits and accrued liabilities (85) (72) Deferred revenue and other (13) (12) Payroll and benefit liabilities 15 (19) Deferred compensation liability (1) 3 Other liabilities (14) (6) Purchase and development of property for future transfer to inventory — (134) Other, net (2) (1) Net cash, cash equivalents, and restricted cash provided byoperating activities 204 22 INVESTING ACTIVITIES Proceeds from disposition of entity 50 — Capital expenditures for property and equipment (excluding inventory) (34) (45) Purchase of company owned life insurance (3) (13) Other, net — 1 Net cash, cash equivalents, and restricted cash provided by (used in)investing activities 13 (57) Prior year amounts have been reclassified to conform with our current year presentation. Please see “Non-GAAP Financial Measures” for additional information. † † † † † †
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A-13 MARRIOTT VACATIONS WORLDWIDE CORPORATION INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS (CONTINUED) (In millions and unaudited) Nine Months Ended September 30,2026 September 30,2025 FINANCING ACTIVITIES Borrowings from securitization transactions 1,287 927 Repayment of debt related to securitization transactions (1,010) (958) Proceeds from debt 1,780 1,740 Repayments of debt (2,341) (1,296) Finance lease payment (5) (5) Payment of debt and securitized debt issuance costs (9) (20) Repurchase of common stock — (36) Payment of dividends (110) (110) Payment of withholding taxes on vesting of restricted stock units (8) (6) Other, net — — Net cash, cash equivalents, and restricted cash (used in) providedby financing activities (416) 236 Effect of changes in exchange rates on cash, cash equivalents, andrestricted cash (1) 4 Change in cash, cash equivalents, and restricted cash (200) 205 Cash, cash equivalents, and restricted cash, beginning of period 733 528 Cash, cash equivalents, and restricted cash, end of period $ 533 $ 733
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A-14 MARRIOTT VACATIONS WORLDWIDE CORPORATION FREE CASH FLOW AND ADJUSTED FREE CASH FLOW (In millions and unaudited) Nine Months Ended CASH FLOW September 30,2026 September 30,2025 Cash, cash equivalents, and restricted cash provided by operating activities $ 204 $ 22 Capital expenditures for property and equipment (excluding inventory) (34) (45) Borrowings from securitizations, net of repayments 277 (31) Securitized debt issuance costs (9) (7) Purchase of company owned life insurance (3) (13) Free cash flow* 435 (74) Adjustments: Proceeds from Cancun disposition 50 — Net change in borrowings available from the securitization of eligiblevacation ownership notes receivable (109) 96 Other 73 129 Adjusted free cash flow* $ 449 $ 151 * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additional information about our reasons for providing these alternative financial measures and limitations on their use. Represents the net change in borrowings available from the securitization of eligible vacation ownership notes receivable compared to the prior year end. Represents the adjustments to exclude certain capital expenditures, as well as the after-tax impact of modernization costs, restructuring costs, transaction and integration costs, insurance proceeds, changes in restricted cash, and other. (1) (2) (1) (2)
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A-15 MARRIOTT VACATIONS WORLDWIDE CORPORATION 2026 ADJUSTED FREE CASH FLOW OUTLOOK (In millions) CurrentFiscal Year 2026 Guidance PreviousFiscal Year 2026 Guidance Low High Low High Adjusted EBITDA* $ 810 $ 830 $ 805 $ 830 Cash interest (170) (165) (170) (165) Cash taxes (120) (125) (150) (160) Corporate capitalexpenditures (60) (60) (60) (70) Inventory 15 20 20 30 Financing activity and other (65) (70) (35) (5) Adjusted free cash flow* $ 410 $ 430 $ 410 $ 460 The guidance provided above excludes impacts from certain asset sales, foreign currency changes, restructuring costs, litigation charges, modernization costs, transaction and integration costs, and impairments, each of which the Company cannot forecast with sufficient accuracy to factor them into the guidance provided above and without unreasonable efforts, and which may be significant. As a result, the full year 2026 adjusted free cash flow outlook is presented only on a non-GAAP basis and is not reconciled to the most comparable GAAP measures. Where one or more of the currently unavailable items is applicable, some items could be material, individually or in the aggregate, to GAAP reported results. * Denotes non-GAAP financial measures. Please see “Non-GAAP Financial Measures” for additional information about our reasons for providing these alternative financial measures and limitations on their use.
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A-16 MARRIOTT VACATIONS WORLDWIDE CORPORATION QUARTERLY OPERATING METRICS (Contract sales in millions) Year Quarter Ended Full YearMarch 31 June 30 September 30December 31 Vacation Ownership Contract sales 2026 $ 411 $ 545 $ 565 2025 $ 420 $ 445 $ 439 $ 458 $ 1,762 2024 $ 428 $ 449 $ 459 $ 477 $ 1,813 VPG 2026 $ 4,016 $ 4,477 $ 4,822 2025 $ 3,979 $ 3,631 $ 3,700 $ 3,894 $ 3,794 2024 $ 4,129 $ 3,741 $ 3,888 $ 3,916 $ 3,911 Tours 2026 95,250 112,721 107,687 2025 97,998 114,402 109,609 109,965 431,974 2024 96,579 111,752 110,557 113,828 432,716 Exchange & Third-Party Management Total active Interval International members 2026 1,507,043 1,474,816 1,479,618 2025 1,537,561 1,507,051 1,499,208 1,507,345 1,507,345 2024 1,565,558 1,530,490 1,544,835 1,545,638 1,545,638 Average revenue per Interval International member 2026 $ 39.13 $ 36.83 $ 36.99 2025 $ 39.94 $ 37.40 $ 37.91 $ 35.30 $ 150.51 2024 $ 41.74 $ 38.30 $ 38.93 $ 35.36 $ 154.34 Includes members at the end of each period. (1) (1)
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A-17 MARRIOTT VACATIONS WORLDWIDE CORPORATION NON-GAAP FINANCIAL MEASURES In our press release and schedules, and on the related conference call, we report certain financial measures that are not prescribed by GAAP. We discuss our reasons for reporting these non-GAAP financial measures below, and the financial schedules included herein reconcile the most directly comparable GAAP financial measure to each non-GAAP financial measure that we report (identified by an asterisk (“*”) on the preceding pages). Although we evaluate and present these non- GAAP financial measures for the reasons described below, please be aware that these non-GAAP financial measures have limitations and should not be considered in isolation or as a substitute for revenues, net income or loss attributable to common stockholders, earnings or loss per share or any other comparable operating measure prescribed by GAAP. In addition, other companies in our industry may calculate these non-GAAP financial measures differently than we do or may not calculate them at all, limiting their usefulness as comparative measures. Reclassifications Certain amounts from the prior fiscal year have been reclassified to conform to the current year presentation. Beginning in the third quarter of 2025, we began separately presenting Modernization expense in our Income Statements and in the fourth quarter of 2025, all Modernization expenses were moved from our individual business segments to Corporate and other. As a result, prior year amounts for the three and nine months ended September 30, 2025 were reclassified from Modernization expense to conform with our current year presentation. Additionally, for the nine months ended September 30, 2025, we reclassified $2 million related to the impairment of an operating lease and related assets from Restructuring expense to Impairment expense to conform with our current year presentation. Certain Items Excluded from Non-GAAP Financial Measures We evaluate non-GAAP financial measures, including those identified by an asterisk (“*”) on the preceding pages, that exclude certain items as further described in the financial schedules included herein, and believe these measures provide useful information to investors because these non-GAAP financial measures allow for period-over-period comparisons of our ongoing core operations before the impact of these items. These non-GAAP financial measures also facilitate the comparison of results from our ongoing core operations before these items with results from other companies. Adjusted Development Profit and Adjusted Development Profit Margin We evaluate Adjusted development profit (Adjusted sale of vacation ownership products, net of expenses) and Adjusted development profit margin as indicators of operating performance. Adjusted development profit margin is calculated by dividing Adjusted development profit by revenues from the Sale of vacation ownership products. Adjusted development profit and Adjusted development profit margin adjust Sale of vacation ownership products revenues for the impact of revenue reportability, include corresponding adjustments to Cost of vacation ownership products associated with the change in revenues from the Sale of vacation ownership products, and may include adjustments for certain items as necessary. We evaluate Adjusted development profit and Adjusted development profit margin and believe they provide useful information to investors because they allow for period-over-period comparisons of our ongoing core operations before the impact of revenue reportability and certain items to our Development profit and Development profit margin. Earnings Before Interest Expense, Taxes, Depreciation and Amortization (“EBITDA”) and Adjusted EBITDA EBITDA, a financial measure that is not prescribed by GAAP, is defined as earnings, or net income or loss attributable to common stockholders, before interest expense, net (excluding consumer financing interest expense), income taxes, depreciation and amortization. Adjusted EBITDA reflects additional adjustments for certain items and excludes share-based compensation expense and amortization of cloud computing software implementation costs. Share-based compensation expense is excluded to address considerable variability among companies in recording compensation expense because companies use share-based payment awards differently, both in the type and quantity of awards granted. Amortization of cloud computing
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A-18 software implementation costs, which are not included in depreciation and amortization expense, are excluded from Adjusted EBITDA for comparability purposes to address the considerable variability among companies in the utilization of productive assets. For purposes of our EBITDA and Adjusted EBITDA calculations, we do not adjust for consumer financing interest expense because we consider it to be an operating expense of our business. We consider Adjusted EBITDA to be an indicator of operating performance, which we use to measure our ability to service debt, fund capital expenditures, expand our business, and return cash to stockholders. We also use Adjusted EBITDA, as do analysts, lenders, investors and others, because this measure excludes certain items that can vary widely across different industries or among companies within the same industry. For example, interest expense can be dependent on a company’s capital structure, debt levels and credit ratings. Accordingly, the impact of interest expense on earnings can vary significantly among companies. The tax positions of companies can also vary because of their differing abilities to take advantage of tax benefits and because of the tax policies of the jurisdictions in which they operate. As a result, effective tax rates and provisions for income taxes can vary considerably among companies. Adjusted EBITDA also excludes depreciation and amortization, as well as amortization of cloud computing software implementation costs because companies utilize productive assets of different ages and use different methods of both acquiring and depreciating or amortizing productive assets. These differences can result in considerable variability in the relative costs of productive assets and the depreciation and amortization expense among companies. We believe Adjusted EBITDA is useful as an indicator of operating performance because it allows for period-over-period comparisons of our ongoing core operations before the impact of the excluded items. Adjusted EBITDA also facilitates comparison by us, analysts, investors, and others, of results from our ongoing core operations before the impact of these items with results from other companies. Commencing in the first quarter of 2026, interest expense associated with our Warehouse Credit Facility is included as a component of Consumer financing interest expense within Financing expense. For the three and nine months ended September 30, 2025, interest expense associated with our Warehouse Credit Facility is included as a component of Interest expense, net. Interest expense on our Warehouse Credit Facility was $4 million and $9 million for the three and nine months ended September 30, 2026, respectively, and $3 million and $10 million for the three and nine months ended September 30, 2025, respectively. Adjusted EBITDA Margin and Segment Adjusted EBITDA Margin We evaluate Adjusted EBITDA margin and Segment Adjusted EBITDA margin as indicators of operating profitability. Adjusted EBITDA margin represents Adjusted EBITDA divided by the Company’s total revenues less cost reimbursement revenues. Segment Adjusted EBITDA margin represents Segment Adjusted EBITDA divided by the applicable segment’s total revenues less cost reimbursement revenues. We evaluate Adjusted EBITDA margin and Segment Adjusted EBITDA margin and believe it provides useful information to investors because it allows for period-over-period comparisons of our ongoing core operations before the impact of excluded items. Adjusted Pretax Income, Adjusted Net Income Attributable to Common Stockholders, and Adjusted Earnings per Share - Diluted We evaluate Adjusted pretax income, Adjusted net income attributable to common stockholders, and Adjusted earnings per share - diluted as indicators of operating performance. Adjusted pretax income is calculated as Adjusted EBITDA less depreciation and amortization, interest expense, net of interest income, share-based compensation expense and amortization of cloud computing software implementation costs. Adjusted net income attributable to common stockholders is calculated as Adjusted pretax income less provision for income tax adjusted for certain items and Adjusted earnings per share - diluted equals adjusted net income attributable to common stockholders divided by diluted shares. We evaluate these measures because we believe they provide useful information to investors because they allow for period-over-period comparisons of our ongoing core operations before the impact of certain non-recurring items such as impacts from asset sales, foreign currency changes, restructuring costs, litigation charges, modernization costs, transaction and
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A-19 integration costs, and impairments, and also facilitate the comparison of results from our ongoing core operations before these items with results from other companies. Free Cash Flow and Adjusted Free Cash Flow We evaluate Free Cash Flow and Adjusted Free Cash Flow as liquidity measures that provide useful information to management and investors about the amount of cash provided by operating activities after capital expenditures for property and equipment and the borrowing and repayment activity related to our term securitizations, which cash can be used for, among other purposes, strategic opportunities, including acquisitions and strengthening the balance sheet. Adjusted Free Cash Flow, which reflects additional adjustments to Free Cash Flow for the impact of transaction, integration, restructuring, and modernization costs, litigation charges, insurance proceeds, impact of borrowings available from the securitization of eligible vacation ownership notes receivable, and changes in restricted cash and other items, allows for period-over-period comparisons of the cash generated by our business before the impact of these items. Analysis of Free Cash Flow and Adjusted Free Cash Flow also facilitates management’s comparison of our results with our competitors’ results. Net Corporate Leverage Net corporate leverage ratio represents gross corporate debt, less cash and cash equivalents, divided by Adjusted EBITDA realized over the last twelve months. The Company’s corporate debt is composed of its corporate credit facility, senior unsecured notes, convertible notes, and finance leases. Management uses this measure to evaluate balance sheet strength, financial flexibility, and progress toward its leverage objectives. We believe net corporate leverage is an important measure of financial strength because it provides insight into our ability to invest in growth and return capital to shareholders.