Icahn Enterprises Activist Presentation Deck

THE BOARD APPROVED EGREGIOUS EXECUTIVE COMPENSATION We believe the Board has allowed an unacceptable pay gap to persist between McDonald's' Chief Executive Officer and the average pay of a front-line employee CAWS $21,000,000 $18,000,000 $15,000,000 $12,000,000 $9,000,000 $6,000,000 $3,000,000 $0 Total CEO Compensation vs. Average Employee Compensation in 2021 $20,028,132 Total CEO $8,897 Avg. Employee For 2021, total Chief Executive Officer compensation was an astounding 2,251x the average employee's total compensation. 32

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