Pershing Square Activist Presentation Deck

A Special Meeting is Warranted Given Allergan's Record of Poor Corporate Governance (Cont.) This board's recent behavior is consistent with Allergan's past poor corporate governance. Shareholders deserve the right to elect a board who will protect their interests as owners of the company. Shareholders also deserve the right to call a special meeting free of onerous provisions and impediments. We have proposed a special meeting, which Allergan has sought to suppress, to enfranchise shareholders

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