Greenlight Company Presentation

Endnotes Slide 4-Source: Greenlight calculations based upon each issuer's reported results in its most recently filed Forms 10-K or 10-Q and Bloomberg L.P. pricing data as of February 20, 2013. Slide 6-Source: Bloomberg L.P. Slide 8-Source: Greenlight calculations based upon each issuer's reported results in its most recently filed Forms 10-K or 10-Q. Slide 11-Source: Greenlight calculations based upon each issuer's reported results in its Forms 10-K or 10-Q for the time periods noted. Slide 12-Source: Greenlight calculations based upon Bloomberg L.P. . consensus estimates as of February 2013. Slide 16 Source: Greenlight's estimates based upon AAPL's reported results in its Q1 2013 Form 10-Q and AAPL's foreign cash balance revealed in AAPL's Q1 2013 financial results call on January 23, 2013. Slide 17-Source: Lashinsky, Adam. "The Genius Behind Steve" Fortune November 2008. Slide 19-Source: Greenlight estimates and calculations. Tax payment is based upon highest applicable tax rate applied to the foreign cash balance revealed in AAPL's Q1 2013 financial results call on January 23, 2013. Slide 20-Source: Greenlight estimates and calculations. Shares outstanding reflects the figures in AAPL's Q1 2013 Form 10-Q adjusted for Greenlight's estimate of dilution. Slide 21-Source: Greenlight estimates and calculations. Slide 22-Source: Greenlight estimates and calculations using a share price of $450. FY 2013E net income reflects Bloomberg L.P. consensus estimates as of February 2013. Slide 24 S rce: Greenlight estimates and calculation O Cash flow reflects Bloomberg L.P. consensus estimates as of February 2013. Tax is calculated based on current highest applicable tax rate. Greenlight Capital, Inc. Slide 25-Source: Greenlight estimates and calculations. Net income and EPS before repurchases reflects Bloomberg L.P. consensus estimates as of February 2013. Slide 26-Source: Yield from Bloomberg L.P. as of February 20, 2013. Slide 27-Source: Greenlight estimates and calculations. Slide 28-Source: Presentation by Tim Cook at the Goldman Sachs Technology and Internet Conference, February 12, 2013. Slide 34-Source: Greenlight estimates and calculations. Slide 35-Source: Greenlight estimates and calculations. Yield figures reflect Bloomberg L.P. data as of February 20, 2013. Slide 37-Source: Greenlight estimates and calculations using a share price of $450. Slide 38- -Source: Greenlight estimates and calculations using a share price of $450. Earnings per share reflects Bloomberg L.P. consensus estimates as of February 2013. Cash per share of AAPL common stock prior to special dividend is based upon AAPL's Q1 2013 Form 10-Q. Slides 40 through 43 Source: Greenlight estimates and calculations as detailed in prior slides adjusted for a larger issuance of iPrefs. Slides 44 through 46-Source: Greenlight assumptions. Slide 48-Source: Summary of Greenlight estimates and calculations as detailed in prior slides. Slide 50-Source: "Apple's One-Dollar-a-Year Man" Fortune January 2000. Slide 51 Source: AAPL Schedule 14A filed on January 7, 2013. 53 53

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