SpringOwl Activist Presentation Deck
Disclaimer
The views expressed herein represent the opinions of SpringOwl Asset Management LLC ("SpringOwl"), which opinions are based exclusively on publicly
available information with respect to Yahoo! Inc. ("Yahoo"). These materials are for general informational purposes only. They do not have regard to the
specific investment objective, financial situation, suitability, or the particular need of any specific person who may receive these materials, and should not be
taken as advice on the merits of any investment decision. Opinions expressed herein are current opinions as of the date appearing in this material only.
SpringOlwl disclaims any obligation to update the data, information or opinions contained herein. Unless otherwise indicated, financial information and data
used herein have been derived or obtained from filings made with the applicable regulator by yahoo or other companies that SpringOwl considers comparable,
and from other third party reports
Except for the historical information contained herein, the matters addressed in these materials are forward-looking statements that involve certain risks and
uncertainties. You should be aware that actual results could differ materially from those contained in the forward-looking statements. Spring Owl does not
assume any obligation to update the forward-looking statements. SpringOwl has not sought or obtained consent from any third party to the use herein of
previously published information. Any such information should not be viewed as indicating the support of such third party for the views expressed herein.
Although data and information contained herein have been obtained from sources believed to be reliable, Spring Owl does not guarantee their accuracy,
completeness or fairness. SpringOwl has relied upon and assumed, without independent verification, the accuracy and completeness of all data and
information available from public sources. No warranty is made that any data or information contained herein, whether delivered or obtained from filings made
with a regulator or from any third party. Is accurate SpringOwl shall not be responsible or have any liability for any misinformation contained in any regulatory
filing or third party report.
There is no assurance or guarantee with respect to the prices at which any securities of Yahoo will trade, and such securities may not trade at prices that may
be implied herein. The estimates, projections, pro forma information and potential impact of the proposals set forth herein are based on assumptions that
SpringOwl believes to be reasonable, but there can be no assurance or guarantee that actual results or performance of yahoo will not differ, and such
differences may be material.
Spring Owl currently owns common stock of Yahoo. SpringOwl may from time to time sell all or a portion of its shares in open market transactions or otherwise
(including via short sales), buy additional shares (in open market or privately negotiated transactions or otherwise), or trade in options, puts, calls or other
derivative instruments relating to such shares. SpringOwl also reserves the right to take any actions with respect to its investment in Yahoo as it may deem
appropriate. Including, but not limited to, communicating with management of Yahoo, the board of directors of Yahoo, and other investors. Neither these
materials nor anything contained herein is intended to be nor should it be construed or used as, investment, tax, legal or financial advice, an opinion of the
appropriateness of any security or investment, or an offer, or the solicitation of any offer, to buy or sell any security or investment.
Spring Owl!
Asset Management LLC
Confidential | For Discussion Purposes Only | 2View entire presentation