ValueAct Capital Activist Presentation Deck

ValueAct's History of Stewardship Over 21 Years Significant Board Experience and Partnership with Company Leadership In 21+ years... 104 Core Investments 53 Public Board Seats Sources: ValueAct Capital 86 • Investor Stewardship Group (Founding Member, Board of Directors) . Committees Served On Present Affiliations ● • Council of Institutional Investors (Corporate Governance Advisory Council) Long-Term Active Role in the Stewardship Community We partner with other institutional shareholders to propose and shape policies of responsible corporate governance that are being adopted by more and more public companies every year. ● 6 ● Public Letters O Proxy Contest Commonsense Corporate Governance Principles Stanford Rock Center for Corporate Governance (Case Study Authors) 8

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