SpringOwl Activist Presentation Deck

Yahoo's Core Business Is In Need Of A Turnaround: 223 Dec 2010A Source: Company Fillings (DEF14A) Spring Owl! Asset Management LLC 4-Year Yahoo Stock-Based Compensation Expenses 203 Dec 2011A 88% 224 Dec 2012A 278 Dec 2013A 420 ($) Millions Dec 2014A Confidential | For Discussion Purposes Only | 12

View entire presentation