Icahn Enterprises Activist Presentation Deck
THE BOARD SHOULD EMBRACE IMPROVED ANIMAL WELFARE
We believe McDonald's has an opportunity to join its peers by prioritizing improved animal welfare in its supply
chain and enhanced transparency with stakeholders
EXAMPLES OF IMPROVED TRANSPARENCY & OPEN-MINDEDNESS
Chipotle has successfully eliminated the use of
gestation crates throughout its global supply chain
through genuine industry leadership and
progressive policies, including temporarily
removing pork from its menu when a material
supplier failed to comply
MEXIC
WHO
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Denny's
aramark
CAWS
Although Denny's is still working to eliminate
gestation crates from its supply chain, the
company is very transparent with stakeholders on
its plan, its progress to date, its terminology and
its commitment to reaching its goal to eliminate
gestation crates and use pork from suppliers that
don't house sows in gestation stalls
While Aramark has also experienced challenges in
meeting its gestation crate elimination goal, the
company is working with suppliers to fully
eliminate all confinement of pigs in gestation
crates, is transparent about the meaning of
"group-housed operations" and is committed to
making its supply chain completely free of
gestation crates
MCDONALD'S' OPPORTUNITY
Mthat its current ESG framework is inferior to many companies
McDonald's claims to already be a leader on ESG, but the reality is
the
restaurant and food industry
We believe McDonald's needs to set verifiable targets for improved
MESG objectives in areas where the Company currently exhibits grave
shortfalls, including animal welfare
M
3
With the Icahn nominees in the boardroom, the Board can improve
McDonald's' governance, provide much-needed oversight and drive
the Company's commitments to animal welfare forward
At this year's Annual Meeting, shareholders have an opportunity to
elect directors with relevant ESG experience and qualifications and
position McDonald's as an actual leader in ESG matters, including
animal welfare
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