Relational Investors LLC

Relational Investors LLC is a San Diego-based, Registered Investment Adviser¹ that serves some of the largest pension funds in the world. Relational invests in and strives to create long-term growth in publicly traded, underperforming companies that it believes are undervalued in the marketplace. Through intense and focused research, Relational develops an engagement plan to unlock value in its portfolio companies. The Firm seeks to engage the management, board of directors, and shareholders of a portfolio company in a productive dialogue designed to build a consensus for positive change to improve shareholder value. Relational is a privately owned asset management firm founded in 1996. Relational’s two products each have concentrated portfolios of generally 8-12 U.S. and Canadian-listed companies: Relational Investors fund: Large-Cap Equity Mid-Cap fund: Mid-Cap Equity Relational manages approximately $6 billion in total. The Relational Investors fund², from inception in 1996 through December 31, 2009, has materially outperformed its benchmark, the S&P 500 Total Return Index, on a cumulative basis. Relational’s nine-person executive management team averages over 20 years of investment experience. Relational’s two founders have worked together since 1985.