ValueAct Capital Activist Presentation Deck
Disclaimer
This document has been prepared by ValueAct Capital Management, L.P. ("ValueAct Capital"). ValueAct Capital is providing this document for
informational and discussion purposes only.
The views expressed herein reflect the opinions of ValueAct Capital as of the date hereof. ValueAct Capital reserves the right to change or modify
any of its opinions expressed herein at any time and for any reason and expressly disclaims any obligation to correct, update, or revise the information
contained herein or to otherwise provide any additional materials. All of the information contained herein is based on ValueAct Capital's independent
research and analysis and publicly-available information, which may include, but is not limited to, publicly available disclosures, earnings calls and
other Company-hosted events open to the public, news articles and other media reports, sell-side analyst reports, independent research projects
conducted by third parties, and publicly-available databases. The materials in this document have not been prepared or endorsed by the Company
and may not be attributed to the Company in any way. The information expressed herein is unaudited, reflects the judgment of ValueAct Capital only
through the date of this document, and is subject to change at any time. Facts have been obtained from sources considered reliable but are not
guaranteed. ValueAct Capital recognizes that there may be confidential or otherwise non-public information with respect to the Company that could
alter the opinions of ValueAct Capital were such information known. This document does not purport to contain all of the information that may be
relevant to an evaluation of the Company, Company securities, or the matters described herein. ValueAct Capital disclaims any obligation to correct,
update or revise these documents or to otherwise provide any additional materials to any recipient of these documents.
Please see the end of the document for additional important disclaimers
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