Is This Brink’s Company’s Response To Activist Jeff Smith?

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31 Largest Five Markets Summary Brink’s largest five markets represent a significant opportunity to create value.  Our largest five markets together represent 65% of Brink’s non-GAAP revenue but only 50% of our segment operating profit  Improvement in these markets is a significant driver of potential earnings and revenue growth Brink’s is delivering high-value services.  The France transformation will continue to result in sustained margin improvement year over year  In all markets, we partner with customers to find ways to reduce the cost of their cash supply chains. We customize our approach to reflect each country’s unique market drivers and opportunities Brink’s is driving efficiency.  With Continuous Process Improvement (CPI), we are using proven methodologies across all markets to improve productivity and quality and to build strong leaders who will drive the changes The U.S. remains a challenge, but improvements are gaining traction.  The U.S. is making great advances in quality, but persistent challenges in CIT performance continue in the short term  The U.S. is changing its revenue mix to include more higher-value money processing and outsourcing services  We’re building on our initial CPI successes and executing to achieve high-impact changes Mexico is on track to achieve targets.  Retail segment trends are solid  We are focused on improving branch margins through CPI and lowering costs to improve profitability
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