Trian Partners Activist Presentation Deck
Disclosure Statement and Disclaimers
Forward-Looking Statements
This presentation contains forward-looking statements. All statements contained in this presentation that are not clearly historical in nature
or that necessarily depend on future events are forward-looking, and the words "anticipate," "believe," "expect," "potential," "opportunity,"
"estimate," "plan," and similar expressions are generally intended to identify forward-looking statements. The projected results and
statements contained in this presentation that are not historical facts are based on current expectations, speak only as of the date of this
presentation and involve risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially
different from any future results, performance or achievements expressed or implied by such projected results and statements.
Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market
conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the
control of Trian Partners. Although Trian Partners believes that the assumptions underlying the projected results or forward-looking
statements are reasonable as of the date of this presentation, any of the assumptions could be inaccurate and, therefore, there can be no
assurance that the projected results or forward-looking statements included in this presentation will prove to be accurate. In light of the
significant uncertainties inherent in the projected results and forward-looking statements included in this presentation, the inclusion of such
information should not be regarded as a representation as to future results or that the objectives and plans expressed or implied by such
projected results and forward-looking statements will be achieved. Trian Partners will not undertake and specifically declines any obligation
to disclose the results of any revisions that may be made to any projected results or forward-looking statements in this presentation to
reflect events or circumstances or to reflect the occurrence of anticipated or unanticipated events.
Not An Offer to Sell or a Solicitation of an Offer to Buy
Under no circumstances is this presentation intended to be, nor should it be construed as, an offer to sell or a solicitation of an offer to buy
any security. Funds managed by Trian are in the business of trading -- buying and selling -- securities. It is possible that there will be
developments in the future that cause one or more of such funds from time to time to sell all or a portion of their holdings
open market
transactions or otherwise (including via short sales), buy additional shares (in open market or privately negotiated transactions or
otherwise), or trade in options, puts, calls or other derivative instruments relating to such shares. Consequently, Trian Partners' beneficial
ownership of Issuer common stock may vary over time depending on various factors, with or without regard to Trian Partners' views of the
Issuer's business, prospects or valuation (including the market price of the Issuer's common stock), including without limitation, other
investment opportunities available to Trian Partners, concentration of positions in the portfolios managed by Trian, conditions in the
securities markets and general economic and industry conditions. Trian Partners also reserves the right to take any actions with respect to
investments in the Issuer as it may deem appropriate, including, but not limited to, communicating with management of the Issuer, the
Board of Directors of the Issuer, other investors and shareholders, stakeholders, industry participants, and/or interested or relevant parties
about the Issuer, and to change its intentions with respect to its investments in the Issuer at any time. However, neither Trian Partners nor
any of its affiliates has any intention, either alone or as part of a group, to directly or indirectly seek to acquire "control" of the Issuer or to
otherwise put the Issuer "in play" through any means. For purposes of the foregoing sentence, "control" shall mean the power, whether or
not exercised, to direct or cause the direction of the management and policies of an entity through the ownership of voting shares, by
contract or otherwise.
Concerning Intellectual Property
All registered or unregistered service marks, trademarks and trade names referred to in this presentation are the property of their
respective owners, and Trian's use herein does not imply an affiliation with or endorsement by, the owners of the these service marks,
trademarks and trade names.
- 2-View entire presentation