Pershing Square Activist Presentation Deck
LOW Share Price Performance Since Inception
LOW's share price including dividends increased 63% in 2021 and has
decreased 10% year-to-date in 2022(¹)
LOW Share Price Performance From 4/6/2018 to 2/8/2022:
Share price
$300
$260
$220
$180
$140
$100
$60
12/12/18: LOW 2018 Analyst
Day. Introduces 12%
operating margin target
5/22/18: Lowe's
hires Marvin Ellison
as CEO
Nov-2018
Jun-2019
12/9/2020: LOW 2020 Analyst Day
highlights progress across many
fronts. Introduces revised medium-
term operating margin target of 13%
Jan-2020
Apr-2018
Aug-2020
Note: The performance of Lowe'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.
Mar-2021
Oct-2021
$232
$86*
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