Trian Partners Activist Presentation Deck slide image

Trian Partners Activist Presentation Deck

Significantly Improved Performance and TSR Key Financial Metrics Up Across the Board $mm, except per share Net Revenue Em. Markets (% of Total) EBITDA ex Marketing Marketing Spend SG&A% of Sales (ex Marketing) Diluted EPS (3) Annual Dividend FY13A FY14E After-Tax ROIC 14.8% Source: Financials based on Company filings, press releases and investor presentations. Performance for 2/6/2001-2/6/2006 2% Heinz Shareholder Returns Led the S&P 500 (5) FY06A FY12A Change $8,643 $11,649 35% 11.0% 21.0% 1,000bps $1,866 $2,486 $269 $468 18.1% 17.1% $2.10 $3.35 $1.20 $1.92 $3.62 $3.80 20.4% 2% 2/6/2001-2/6/2006 Source: Bloomberg. 178% 33% 74% 40% Heinz S&P 500 Performance for the 7 years since then Source: SEC filings. (1) Earnings before interest, taxes, depreciation and amortization. (2) Selling, general and administrative expenses. (3) Earnings per share. (4) Return on invested capital per the 2012 proxy. (5) Shareholder returns from Bloomberg include dividends. Note: February 6, 2006 represents the date when published reports first surfaced on CNBC of activist involvement. While Trian may believe that the rise in share price during the period of Trian's active involvement was attributable in large part to the cumulative effects of the implementation of operational and strategic changes under Trian's leadership, there is no objective method to confirm what portion of the stock's appreciation was attributable to Trian's efforts during this period and what was attributable to the overall rise in the markets or other factors. Note: February 14, 2013 was the day the Heinz acquisition by Berkshire Hathaway and 3G Capital was announced. Note: Market conditions at the time of the events reflected above may differ materially from current and future market conditions. The performance of this example should therefore not be construed as an indication of the Issuer's performance. Past performance is not an indication of future results. Note: While Nelson Peltz is a former director of H.J. Heinz Company, none of the information set forth herein is based on non-public information of H.J. Heinz Company. 2/6/2006-2/14/2013 -98bps 60% 60% 73% 81% 560bps Heinz CO 6
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