Trian Partners Activist Presentation Deck

... Strong Gross Margin Performance... 510 130 Gross Margin Change (basis points) (Last 5 Fiscal Years) 110 SiteOne #FERGUSON LANDSCAPE SUPPLY US Stronger Together Segment (¹) Beacon 60 60 (20) POOLCORP watsco HDSUPPLY. COOLING THE AMERICAS N (40) DEPOL (245) Specialty, RMI-Oriented Broadline Industrial MRO Home Improvement Retail (340) (360) LOWE'S FASTENAL MSC BUILT | ΤΟ MAKE YOU BETTER" (510) GRAINGER FOR THE ONES WHO GET IT DONE Source: Company filings. (1) Uses Ferguson's consolidated gross margin as a proxy for US segment. (2) HD Supply consolidated gross margin, which includes the non-comparable Construction & Industrial business. HD Supply does not provide Facility Management gross margins. 18

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