SpringOwl Activist Presentation Deck

Yahoo Says They're Doing Great In Mobile, But They Aren't On A Relative Basis YAHOO! twitter facebook. 1H2015 Mobile Revenue As % Of Total Revenue¹ SpringOwl! Asset Management LLC 20% 88% 74% Source: 1. Company Fillings (10K) 2. http://www.emarketer.com/Article/Facebook-Twitter-Will-Take-33-Share-of-US-Digital-Display-Market-by-2017/1012274 Confidential | For Discussion Purposes Only | 30

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