Pershing Square Activist Presentation Deck
CMG Share Price Performance Since Inception
CMG's share price increased 26% in 2021 and has decreased 16% year-to-
date in 2022(1)
CMG Share Price Performance From 8/4/2016 to 2/8/2022:
Share price
$2,000
$1,800
$1,600
$1,400
$1,200
$1,000
$800
$600
$400
$200
9/6/16: Pershing Square
files 13D after market
close with a 9.9% stake
12/16/16: CMG
announces four new
directors added to its
board, including Ali
Namvar and Matthew
Paull from Pershing
Square
$0
Aug-2016
11/29/17: CMG
announces search
for new CEO;
founder Steve Ells
to become
Executive Chairman
2/13/18: CMG names
Brian Niccol as CEO
Dec-2017
7/20/21: Average restaurant
sales eclipse 2015 peak of
$2.5mm on an underlying
run rate basis during Q2
Apr-2017
Apr-2019
Dec-2019 Aug-2020 Apr-2021 Dec-2021
Note: The performance of CMG's share price is provided for illustrative purposes only and is not an indication of future returns of the Pershing Square funds.
*Average cost at announcement date. Please see the additional disclaimers and notes to performance results at the end of the presentation.
(1) As of 2/8/2022.
Aug-2018
I
$1,460
$405*
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