Selected Current and Former Trian Investments

As of 6/1/2017

The portfolio companies shown on this page reflect all of the investments made by Trian since Trian’s inception: (i) for which Trian has filed a Schedule 13D or 13G or made a similar non-U.S. filing or other notification with respect to its investment in the company; or (ii) that were or are a publicly disclosed position in which funds managed by Trian invested approximately $700 million or more of capital (the representative size of Trian’s current core investments) and where Trian (x) had a designee or nominee on the Board and/or (y) wrote a “white paper” and met with management. The companies shown on this page do not represent all of the investments purchased or sold for Trian’s clients and it should not be assumed that any or all of these investments were or will be profitable. While Trian expects to maintain concentrated portfolios and take an active role with respect to its investments, Trian expects to own, and in the past has owned, a number of other investments including passive investments.

As of 6/1/2017

The current portfolio companies shown on this page, together with the former portfolio companies shown on the next page, reflect all of the investments made by Trian since Trian’s inception: (i) for which Trian has filed a Schedule 13D or 13G or made a similar non-U.S. filing or other notification with respect to its investment in the company; or (ii) that were or are a publicly disclosed position in which funds managed by Trian invested approximately $700 million or more of capital (the representative size of Trian’s current core investments) and where Trian (x) had a designee or nominee on the Board and/or (y) wrote a “white paper” and met with management. The companies shown on this page do not represent all of the investments purchased or sold for Trian’s clients and it should not be assumed that any or all of these investments were or will be profitable. While Trian expects to maintain concentrated portfolios and take an active role with respect to its investments, Trian expects to own, and in the past has owned, a number of other investments including passive investments.

As of 6/1/2017

The former portfolio companies shown on this page, together with the current portfolio companies shown on the prior page, reflect all of the investments made by Trian since Trian’s inception: (i) for which Trian has filed a Schedule 13D or 13G or made a similar non-U.S. filing or other notification with respect to its investment in the company; or (ii) that were or are a publicly disclosed position in which funds managed by Trian invested approximately $700 million or more of capital (the representative size of Trian’s current core investments) and where Trian (x) had a designee or nominee on the Board and/or (y) wrote a “white paper” and met with management. The companies shown on this page do not represent all of the investments purchased or sold for Trian’s clients and it should not be assumed that any or all of these investments were or will be profitable. While Trian expects to maintain concentrated portfolios and take an active role with respect to its investments, Trian expects to own, and in the past has owned, a number of other investments including passive investments.