SpringOwl Activist Presentation Deck

Board Profile Director Independence & Affiliations Executive Directors On Name Ballot On Ballot Marissa A. Mayer David Filo ✓ Non-Executive Directors Name Maynard G. Webb Jr. Susan M. James Max R. Levchin Thomas J. McInerney Charles R. Schwab H. Lee Scott Jr. Jane E. Shaw Affiliation Note: As of: 01 Apr 2015 Source: ISS Proxy Advisory Services CEO SpringOwl! Asset Management LLC Affiliation Chair Independence Classification Company Non- Independent Non- Independent Company Independent Independent Independence Classification Independent Independent Independent Independent Independent ISS *Indicates director not previously submitted to shareholders for election. Insider Insider ISS Independent Outsider Independent Outsider Independent Outsider Independent Outsider Independent Outsider Independent Outsider Independent Outsider Attend Gen- Age Tenure Term <75% der Ends F 39 2 ✓ M 48 1 Attend Gen- Age Tenure Term <75% der Ends M 59 F 69 M 39 M M 50 3 M 66 F TI 77 3 76 5 2 1 1 2016 1 2016 2016 2016 2016 2016 2016 Outside 2016 Boards CEO 1 0 Outside Boards CEO 2 2016 2 2 1 1 O 0 Key Committees Key Committees Audit Comp Nom Gov M CF Comp Nom Gov F F M M C C с M = Member | C = Chair | F = Financial Expert Confidential | For Discussion Purposes Only | 96

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