Pershing Square Activist Presentation Deck

Comments by Past Leadership When P&G acquired Gillette in 2005, previous leadership believed P&G could achieve a 24% EBIT margin. We still believe P&G can approach that profitability level under strong leadership "Based on the synergy plan, we are confident that the combined entity will generate about a 24% operating margin by the end of this decade versus the 18.5% P&G delivered in fiscal 2004-5." 28 A.G. Lafley, CEO Gillette M&A Presentation 10/3/05

View entire presentation