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

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74 Segment Overview:  Canada  Low-growth economy  Few large banks; retail sector contraction  Opportunity to grow market share due to changes in competitive landscape  Revenue lower on reduced volumes  H1 OP and margins flat  Cost and productivity offsetting lower volumes and pension increase  Cost and productivity trends expect OP and margin better YoY $9 $11 $13 $5 $4 5.0% 5.5% 7.1% 5.2% 5.2% 2012 2013 2014 1H14 1H15 $188 $191 $180 $90 $78 0% 5% 1% 1% (1)% 2012 2013 2014 1H14 1H15 OP% Organic Growth ($ Millions) Operating Profit Overview Revenue Market Dynamics
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