{
  "docId": "019dd923-622c-750b-8b9b-4744aa77d85b",
  "docSlug": "b4601d9ee41d",
  "documentTitle": "Realty Income Corp (O)",
  "authorId": "01_Pershing_Square",
  "authorName": "Pershing Square Capital Management",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2009-10-06 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 2,
  "pageCount": 35,
  "prevPage": 1,
  "nextPage": 3,
  "slideType": "disclaimer",
  "function": "other",
  "density": "dense",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": [
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9b-4744aa77d85b/2",
  "deckHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9b-4744aa77d85b#slide-2",
  "components": [
    {
      "bbox": {
        "h": 0.09,
        "w": 0.914,
        "x": 0.043,
        "y": 0.612
      },
      "kind": "disclaimer",
      "text": "Funds managed by Pershing Square and its affiliates own investments in real estate investment trust including long investments (e.g., General Growth Properties, Inc.) as well as short investments (e.g., Realty Income Corporation). With respect to short investments, such investments may include, without limitation, credit-default swaps, equity put options and short sales of common stock.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "089d103f-4d10-4a80-a07b-b2f95ad5803f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.225,
        "w": 0.914,
        "x": 0.043,
        "y": 0.358
      },
      "kind": "disclaimer",
      "text": "The analyses provided may include certain statements, estimates and projections prepared with respect to, among other things, the historical and anticipated operating performance of the companies, access to capital markets and the values of assets and liabilities. Such statements, estimates, and projections reflect various assumptions by Pershing Square concerning anticipated results that are inherently subject to significant economic, competitive, and other uncertainties and contingencies and have been included solely for illustrative purposes. No representations, express or implied, are made as to the accuracy or completeness of such statements, estimates or projections or with respect to any other materials herein. Actual results may vary materially from the estimates and projected results contained herein.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "314ea1b8-89d5-44fc-91f2-a9f8e3e76a4e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.135,
        "w": 0.914,
        "x": 0.043,
        "y": 0.745
      },
      "kind": "disclaimer",
      "text": "Pershing Square manages funds that are in the business of trading - buying and selling - securities and financial instruments. It is possible that there will be developments in the future that cause Pershing Square to change its position regarding the companies discussed in this presentation. Pershing Square may buy, sell, cover or otherwise change the form of its investment regarding such companies for any or no reason. Pershing Square hereby disclaims any duty to provide any updates or changes to the analyses contained here including, without limitation, the manner or type of any Pershing Square investment.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6745ba94-be31-4fb1-a17a-9e0494c8ec53",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.135,
        "w": 0.914,
        "x": 0.043,
        "y": 0.00191
      },
      "kind": "disclaimer",
      "text": "The analyses and conclusions of Pershing Square Capital Management, L.P. (\"Pershing Square\") contained in this presentation are based on publicly available information. Pershing Square recognizes that there may be confidential information in the possession of the companies discussed in the presentation that could lead these companies to disagree with Pershing Square's conclusions. This presentation and the information contained herein is not a recommendation or solicitation to buy or sell any securities.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "e3f23761-4aa8-4699-b437-7f0dc28c6572",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.045,
        "w": 0.238,
        "x": 0.043,
        "y": 0.095
      },
      "kind": "title",
      "text": "Disclaimer",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "314bfc6a-c26c-45c7-92cf-f64e5ebe5b44",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}