Pershing Square Activist Presentation Deck
UMG Share Price Performance Since IPO
UMG's share price including dividends increased 37% from our average cost at
inception to December 31, 2021, and has decreased 14% year-to-date in 2022(¹)
UMG share price performance from 9/21/2021 to 2/8/2022:
Share price
€ 28
€ 26
€ 24
€ 22
€ 20
€ 18
€ 16 +
9/21/21: UMG completes
separation from Vivendi and
begins trading on the
Euronext Amsterdam
Sep-2021
Oct-2021
10/27/21: UMG announces
inaugural quarterly results as an
independent public company,
reporting revenue growth of 17%
and EBITDA growth of 21%
Nov-2021
12/20/21: UMG removed
from STOXX 50 Index and
added to AEX Index
Dec-2021
Jan-2022
л
€21.38
€18.27*
Note: The performance of UMG's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds.
*Average cost as per negotiated transaction price between Pershing Square and Vivendi. Includes transaction fees. Based on negotiated FX rate of 1.20 EUR to 1.00 USD.
Please see the additional disclaimers and notes to performance results at the end of the presentation.
(1) As of 2/8/2022.
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