Icahn Enterprises Activist Presentation Deck slide image

Icahn Enterprises Activist Presentation Deck

THE BOARD'S ATTEMPTS TO SHIFT BLAME FALL FLAT Rather than assume accountability for its failings on this important issue, the Board has hidden behind excuses M February 20, 2022 McDonald's Board of Directors Issues Statem in Response to Carl Company is on track to achieve indu sourcing U.S. pork from confirm in gestation crates by 2024 ding goal of t sows not housed By the end of 2022 volumes fro mpany expects to source 85% to 90% of its U.S. pork ot housed in gestation crates during pregnancy. Despite industry- de hallenges for farmer and producers, such as the COVID-19 pandemic and global swine disease outbreaks, the Company expects 100% of its U.S. pork will come from sows housed in groups during pregnancy by the end of 2024. For more information on McDonald's commitments, please visit our Animal Health & Welfare page. CAWS UNACCEPTABLE In what we perceive to be poor excuses for nonperformance, McDonald's has blamed "industry-wide challenges for farmers and producers, such as the COVID-19 pandemic and global swine disease outbreaks" for its failure to make good on its commitment to end gestation crate use We believe that McDonald's should have been prioritizing and advancing on this issue well before these challenges arose McDonald's should not blame recent headwinds as the reason it has failed to honor the important pledge made over a decade ago At this year's Annual Meeting, shareholders can send the McDonald's Board a message and hold it accountable to end inhumane animal treatment in its supply chain once and for all. 19
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