Pershing Square Activist Presentation Deck slide image

Pershing Square Activist Presentation Deck

The Path From Here We expect: ■ In the very near term, a decision to terminate the Philidor relationship and develop new channel partners ■ Over the next several months, more negative press reports, scrutiny from regulators and politicians ■ Completion of the ad hoc committee's work ■ Over the next year, resilient operating performance from Valeant ■ In the next two to four years, completion of recently announced investigations We believe that with the passage of time Valeant's share price will reflect the value of its franchises, its low-cost operating model, and its efficient capital allocation strategy 27
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