Diversified Subsidiary Companies Presentation slide image

Diversified Subsidiary Companies Presentation

Ability to Maximize Shareholder Value Through Proven Activist Strategy • IEP seeks undervalued companies and often becomes "actively" involved in the targeted companies • Activist strategy requires significant capital, • • rapid execution and willingness to take control of companies Implement changes required to improve businesses Putting Activism into Action ⚫ IEP pursues its activist strategy and seeks to promulgate change. - Dealing with the board and management IEP's investment and legal team is capable of unlocking a target's hidden value. Financial/balance sheet restructuring Operation turnarounds Strategic initiatives Corporate governance changes Purchase of Stock or Debt Proxy fights Tender offers - Taking control Mr. Icahn and Icahn Capital have a long and successful track record of generating significant returns employing the activist strategy • IEP's subsidiaries often started out as investment positions in debt or equity either directly by Icahn Capital or Mr. Icahn • Active participation in the strategy and capital allocation for targeted companies • Not involved in day-to-day operations • IEP will make necessary investments to ensure subsidiary companies can compete effectively 00 8
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