Trian Partners Activist Presentation Deck
Where Can You Find Attractive Risk-Reward?
Current Macro Concerns
United States
-S&P approaching five-year
highs
-High unemployment
persists
-Slow GDP growth
-Fiscal cliff
-Europe
-Euro in doubt
-Social unrest
■ China
-Change of political
leadership
-Economic slowdown
I Middle-East
-Geopolitical risks
(Syria, Iran)
Food Company Strengths
-Irreplaceable brands.
▪ Resilient cash flow
▪High dividends
-Liquidity
▪ Ability to work
income statement,
optimize balance
sheet
Trian Credibility and Expertise
▪Trian has played a role
in transforming several
large cap food
companies over the
past six years...
- 3-
Heinz DR PEPPER
SNAPPLE INC.
Cadbury kraft foods
In the face of numerous macro concerns, food companies offer attractive risk-
reward at current levels
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