Pershing Square Activist Presentation Deck
Disclaimer
Pershing Square Capital Management, L.P.'s ("Pershing") contained in this presentation are
based on publicly available information. Pershing recognizes that there may be confidential
information in the possession of the companies discussed in the presentation (the
"Companies") that could lead the Companies to disagree with Pershing's conclusions.
The analyses provided may include certain statements, estimates and projections prepared
with respect to, among other things, the historical and anticipated operating performance of
the Companies. Such statements, estimates, and projections reflect various assumptions by
Pershing concerning anticipated results that are inherently subject to significant economic,
competitive, and other uncertainties and contingencies and have been included solely for
illustrative purposes. No representations, express or implied, are made as to the accuracy or
completeness of such statements, estimates or projections or with respect to any other
materials herein. Actual results may vary materially from the estimates and projected results
contained herein.
Pershing manages funds that are in the business of trading - buying and selling public
securities. It is possible that there will be developments in the future that cause Pershing to
change its position regarding the Companies and possibly increase, reduce, dispose of, or
change the form of its investment in the Companies.
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This presentation should not be considered a recommendation to buy, sell or hold any
investment. In addition, this presentation is not a solicitation of proxies. Pershing and its
affiliates retain the right to vote on any matters relating to each or any company, including
without limitation, for or against any proposed transaction.View entire presentation