Pershing Square Activist Presentation Deck slide image

Pershing Square Activist Presentation Deck

Allergan Unaffected Share Price Allergan's unaffected share price is $116.63, the closing price on April 10, the day before Pershing Square began its rapid accumulation program Allergan share price and volume from 2/25/2014 to 4/21/2014 Share Price (USD) $145 $140 $135 $130 $125 $120 $115 $110 $105 PS % of Volume Loohoold Apr. 9-10: No Pershing purchases Unaffected share price: $116.63 ➡Feb-25 Feb-26 Feb-27 Feb-28 Mar-03 Mar-04 Mar-05 Mar-06 Mar-07 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 Mar-24 Mar-25 Mar-26 Mar-27 Mar-28 Mar-31 Apr-01 Apr-02 Apr-03 Apr-04 Apr-07 Apr-08 Apr-09 Apr-10 Apr-11 Apr-14 Apr-15 Apr-16 Apr-17 Apr-21 12 17 21 15 16 15 18 14 10 18 19 17 15 16 26 23 18 22 23 17 21 19 12 25 13 18 18 27 5 Shares, Options, and Forwards Purchased by Pershing Square Volume 0 37 30 31 38 34 39 -Share Price 10,000 9,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1,000 0 Note: Chart shows Allergan's share price, volume, and the number of shares, delta-one options, and forwards purchased by Pershing Square from February 25, 2014, the day Pershing Square began its purchases, to April 21, 2014. Share price and volume data are as per Capital IQ. 65 Volume ('000 shares)
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