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

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76 Segment Overview:  Latin America Revenue Market Dynamics 402 407 381 184 182 11 9 12 10 15 2012 2013 2014 1H14 1H15 Organic Growth (%)($MM)  Strong use of cash in society, large unbanked population  Various degrees of maturity in cash supply chain outsourcing and regulatory environment within the region  Active union participation… disturbance from strikes stimulated demand for solutions Revenue / Operating Profit  Significant currency devaluation… revenue grew 15% organically 1H15  Strong growth in profitability, driven by increased volume, expansion in retail solution deployment and productivity  Strong margin expansion, from Argentina (+5.3 percentage points) and rest of region (+2.6 percentage points)  Strategically positioned to further grow within Retail segment and selected Financial Institutions customers Operating Profit 52 60 50 22 36 13.0 14.6 13.2 11.7 19.6 2012 2013 2014 1H14 1H15 % Margin (%)($MM) Fastest growing segment in Global Markets with improving margins
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