Icahn Enterprises Activist Presentation Deck

GOVERNANCE: MATERIAL ESG FACTORS • Board Diversity & Independence: Promoting and accurately sharing the structure of the company's board to ensure effectiveness and representation of shareholder values. This may include disclosing independent board members, committees, minority representation and more. • Business Ethics: Ensuring the company's values, standards, and norms are ethical and managed throughout business operations. These may include policies or practices relating to the code of conduct, anti-corruption, grievance mechanisms, compliance, levels of executive compensation, audits and more. Systemic Risk Management: Preparing for and managing potential crisis and risks that may impact the business. This may include planning for and mitigating ESG-related risks, forecasting, employee training, critical incident management and more. • Stakeholder Engagement (& Public Policy): Actively seeking input from stakeholders to incorporate into business strategies and priorities. This may include fair and transparent activates related to lobbying and political contributions, materiality assessments, shareholder governance and rights, industry affiliations and memberships and more. • Governance of "ESG": Ensuring oversight and management of environment, social, and governance topics throughout the company's operations. This may include ESG policies, strategies, audits, committee oversight and more. CAWS Governance Factors Board Diversity & Independence Business Ethics Systemic Risk Management Stakeholder Engagement (& Public Policy) Governance of "ESG" ESG Factors and Descriptions TOTAL SASB Factor Weighting¹ and Prioritization TCFD All Restaurants FAIRR Protein Producer 7.8% 7.8% (1) Note: Ratings agency categorizations across these categories vary slightly; illustrate weighting percentage an approximation to allow for comparability ISS Restaurants 1.9% 5.0% 3.7% 1.7% 12.3% MSCI Restaurants 8.3% 8.3% 8.3% 8.3% 33.2% Sustainalytics Restaurants 5.0% 16.7% 11.9% 33.6% 60

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