Icahn Enterprises Activist Presentation Deck

MCDONALD'S LAGS ON ESG COMPARED TO PROXY PEER GROUP McDonald's' proxy peers are significantly ahead of the Company on numerous relevant sustainability metrics 9 8 7 6 5 4 3 2 1 0 Majority of MCD peers have a stronger MSCI score CCC CAWS Distribution of MSCI Scores in MCD Proxy Peers MCD B BB BBB A AA AAA 4 3 2 1 0 Majority of MCD peers have a stronger Sustainalytics score 12 Distribution of Sustainalytics Scores in MCD Proxy Peers Low risk MCD Sustainalytics Risk Rating Medium risk 35 High risk McDonald's has the lowest CDP Climate Change score out of all its peers Distribution of CDP 2021 Climate Change Scores in MCD Proxy Peers 12 10 8 6 4 2 0 C MCD B- 1₁. A- B A 21

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