Website Disclaimer

The information contained on this website and the materials made available on it are for discussion and informational purposes only. The information contained on this website and the materials made available on it are provided by Corvex Management LP (“Corvex”) and the views expressed herein represent the opinions of Corvex as of the date hereof, which may change.

The information contained on this website and the materials made available on it do not constitute (a) “Investment Research” as defined by the FCA Handbook, (b) “Investment Advice” as defined by the FCA Handbook, (c) a “Financial Promotion” for the purposes of the Financial Services and Markets Act 2000, (d) an offer or invitation to buy or sell, or a solicitation of an offer to buy or sell, or to otherwise engage in any investment business or receive any investment services in respect of, any security or other financial instrument and no legal relations shall be created by its issue, or (e) an “Investment Recommendation” as defined by Regulation (EU) 596/2014 and by Regulation (EU) No. 596/2014 as it forms part of U.K. domestic law by virtue of section 3 of the European Union (Withdrawal) Act 2018 (“EUWA 2018”) including as amended by regulations issued under section 8 of EUWA 2018. This website and the materials made available on it are not, and may not be construed to be, legal, accounting, tax, investment, financial or other advice. No investment decision should be made on the basis of this website or the materials made available on it and no reliance placed on the information set out in the same. Each recipient should review all documents and materials relevant to any investment decision regarding matters described herein and seek appropriate independent advice from their own legal counsel and tax and financial advisers before making any investment decisions.

Funds or entities advised by Corvex have beneficial and economic interests in shares and share equivalents of Whitbread PLC (“Whitbread”).

The information contained on this website and the materials made available on it are based on publicly available information about Whitbread and other companies as well as Corvex’s analysis of such publicly available information. Such information may include forward-looking statements (including statements as to potential future performance or prices), estimates, projections and opinions prepared with respect to, among other things, Whitbread and other companies. Such statements, estimates, projections and opinions may be or prove to be inaccurate and are subject to economic, competitive, financial, and other risks and uncertainties. No representation or warranty, express or implied, is made as to the accuracy or completeness (currently or historically) of those statements, estimates, projections or opinions or any other written or oral communication made by or on behalf of Corvex with respect to Whitbread, the information contained on this website and the materials made available on it, or otherwise. The information is provided “as is” and, except where otherwise indicated, statements speak as of the date made, and Corvex undertakes no obligation to correct, update or revise those statements or to otherwise provide any additional information. In addition, some of the content herein may contain references or links to information published or otherwise made publicly available by third parties. Corvex has not sought or obtained consent from any third party to use any statement or information contained on this website or the materials made available on it which is obtained or derived from statements made or published by third parties, and Corvex has not independently verified the accuracy (currently or historically) of such information. Corvex does not assume liability or responsibility for the content, accuracy or appropriateness of any third-party information.

Corvex is an investment adviser to funds that buy, hold and sell securities and other financial instruments. Corvex intends to review its investments in Whitbread on a continuing basis and depending upon various factors, including without limitation, Whitbread’s financial position and strategic direction, the outcome of any discussions with Whitbread, overall market conditions, other investment opportunities available to Corvex, and the availability of Whitbread’s securities at prices that would make the purchase or sale of Whitbread’s securities desirable, Corvex may from time to time (in the open market or in private transactions, including since the inception of Corvex’s position) buy, sell, cover, hedge or otherwise change the form or substance of any of its investments to any degree in any manner permitted by law and expressly disclaims any obligation to notify others of any such changes. Corvex’s interests may consist of various interests in Whitbread, and such interests may include derivative instruments or short positions, which may comprise all or some of Corvex’s interests in Whitbread. Corvex also reserves the right to take any actions with respect to its investments in Whitbread as it may deem appropriate, including but not limited to, communicating with other investors, shareholders, industry participants, experts and/or relevant parties with respect to Whitbread.

No agreement, commitment, understanding or other legal relationship exists or may be deemed to exist between or among Corvex and any other person by virtue of this website or the materials made available on it. Corvex is not acting for or on behalf of, and is not providing any advice or service to, any recipient of this website or the materials made available on it. Corvex is not responsible to any person for providing advice in relation to the subject matter of this website or the materials made available on it. Before determining on any course of action, any recipient should consider any associated risks and consequences and consult with its own independent advisors as it deems necessary.

This website and the materials made available on it do not purport to be all-inclusive or to contain all of the information that may be relevant to an evaluation of Whitbread.