Pershing Square Activist Presentation Deck

Martin Franklin's Next Platform Platform Specialty Products (NYSE: PAH) ► Martin Franklin, Chairman of Jarden, co-founded PAH in 2013 ► In May 2013, PAH raised ~$881mm¹ and began trading at a valuation close to this cash balance ► Pershing Square invested $250mm² in PAH and owns 27%³ of the company² ► In October 2013, PAH announced the acquisition of MacDermid Inc., for $1.8bn cash and equity, a specialty chemical company with significant platform potential (1) http://ir.platformspecialtyproducts.com/faq.cfm (2) TR-1 Notification of Major Interest in Shares filed May 29, 2013 and Pershing Square investment information. (3) Ownership calculated based on PAH shares outstanding as of April 10, 2014. 87

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