Callouts & quotes from 392+ activist slides

"BK fell significantly short of even the low-end of its 2014 EPS targets"

"We estimate EBITDA and EPS are overstated by 17% and 79%, respectively"

"Compelling upside from re-rating combined with double-digit EPS growth"

"Initial 2024 Adj. EPS guidance missed expectations by over $1.00/shr!"

"We have clear objectives and steps to accomplish a turnaround of DND:"

"Initial 2024 Adj. EPS guidance missed expectations by over $1.00/shr!"

"Steps Will Unlock Intrinsic Value for TRP Shareholders To $75/Share"

"We believe these steps can deliver up to 191p (1) to shareholders"

"All Aboard... the Path to ~$18 EPS and ~$400 stock price by 2025"

"PowerSchool Keeps Kicking A Higher % Of Expenses Into The Future"

"One-Time Earnings Addbacks Have Increased EPS by 8.1% on Average"

"In aggregate, EPS has grown only 6% in total since we invested."

"Achievement of 2012 - 2014 targets can drive strong EPS growth"

"If EPS is not gaining on PCC, and is not gaining on Ladish..."

"We believe PepsiCo’s performance disproves the “Power of One”"

"We believe Adj. EPS has been inflated by aggressive measures."

"It's almost like narcolepsy's a pandemic, not a rare disease."

"Claimed savings of $1.31, yet only $0.42 of total EPS growth"

"PepsiCo EPS growth has materially trailed peers since 2006"

"Any way you look at ATI’s results, it outgrew Arconic EPS"

"We believe the following series of steps is required:"

"your entire computation breaks down after a few steps"

"37 of PepsiCo's top 40 shareholders also own Mondelez"

"Despite massive industry growth, core EPS has shrunk"

"1x reduction = ~0.40 of potential incremental EPS(1)"

"PepsiCo underinvested in beverages to support snacks"

"Why can't the Company keeps its story consistent?"

"Absence of Organic Growth at EPS is Mystifying"

"Potential to double EPS over the next 5 years"

"EPS CAGR: 2.4x Greater"

"EPS CAGR: 2.4x Greater"

"EPS CAGR: 2.4x Greater"