Diversified Subsidiary Companies Presentation

Diversified Subsidiary Companies with Significant Inherent Value • IEP's subsidiary companies possess key competitive strengths and/or leading market positions • IEP seeks to create incremental value by investing in organic growth and targeting businesses that offer consolidation opportunities ICAHN CVR Energy BUTTO MO TIME AAMCO TRANSMISIONES Precision Tune- =PEPBOYS= Auto Care VISKASE Strategically located mid-continent petroleum refiner and nitrogen fertilizer producer Primarily engaged in the automotive repair and maintenance services business Leading global market position in non-edible meat casings poised to capture further growth in emerging markets Real Estate Segment Long-term real estate portfolio primarily consisting of investment properties, development, clubs and resorts WEST POINT HOME VIVUS Over 200 year heritage with some of the best known brands in home fashion Dedicated to addressing the therapeutic needs of patients with serious medical conditions and life-limiting diseases The Company's diversification across multiple industries and geographies provides a natural hedge against cyclical and general economic swings 6

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