Trian Partners Activist Presentation Deck

Ferguson Compares Favorably to Leading Specialty Distributors Branch-Oriented Businesses Trade Contractor Oriented Sale Limited Competitive Universe Job-Site Delivery & Next Day Availability Critical Residential & Commercial RMI Oriented Business Meaningful Organic and Inorganic Share Gain Opportunity Gross Margin Trends(¹) Source: Company filings. (1) See page 19 for supporting data. FERGUSON RMI-Oriented Specialty Distributors watsco COOLING THE AMERICAS SiteOne™ LANDSCAPE SUPPLY Stronger Together POOLCORP® Beacon Roofing Supply 16

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