Icahn Enterprises Activist Presentation Deck

MCD SUPPLY CHAIN FAIRR & BBFAW ANALYSIS Supplier Tyson Foods Marfrig Global Foods Cranswick New Hope Liuhe Fujian Sunner Dvlpmt. Great Wall Enterprise Cherkizovo Group BBFAW Tier CAWS Tier 4 Tier 2 Tier 2 Tier 6 Nippon Suisan Kaisha Tier 6 FAIRR GHG DEF WAT POL ABS FAW WOR FSY GOV Med Med Med High High Med Med Med Med Low Med High High Med Med Med Low Med Med Med High High Med Low Med Low Low High High High High High High High High High High High High High High High High High High High High High High High High High High High High High High High High High High Med High High High SUP High High Med High Best Practice Best Practice Best Practice FAIRR Rank/60 10 5 15 54 60 33 53 Overall Risk 36 Medium Low Medium High Medi Best um Practice Source: Supplier list and Fairr Rating, BBFAW Tier. Note some suppliers are not evaluated by FAIRR (including Smithfield). High High High High McDonald's continues to have empty supply chain promises "McDonald's is using our size and global reach to improve animal health and welfare in the McDonald's supply chain and ensure we source chicken, eggs, beef and pork from producers who share our commitments" - McDonald's Most of MCD protein suppliers have a "high risk" rating from FAIRR Nearly 40% of MCD suppliers were ranked as one of the top 10 worst performing protein producers according to FAIRR's ranking and supplier information provided At least two suppliers are in the lowest BBFAW Tier 61

View entire presentation