{
  "docId": "019dd923-622c-750b-8b9c-dad126beff94",
  "docSlug": "416ab93b6285",
  "documentTitle": "Darden Restaurants, Inc. (DRI)",
  "authorId": "03_Starboard_Value",
  "authorName": "Jeffrey C. Smith",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "activist_investor",
  "sourceTypeLabel": "Activist investor",
  "presentationDate": "2014-09-11 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 294,
  "pageCount": 294,
  "prevPage": 293,
  "nextPage": null,
  "slideType": "disclaimer",
  "function": "other",
  "density": "overcrowded",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": [
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9c-dad126beff94/294",
  "deckHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9c-dad126beff94#slide-294",
  "components": [
    {
      "bbox": {
        "h": 0.034,
        "w": 0.914,
        "x": 0.043,
        "y": 0.784
      },
      "kind": "disclaimer",
      "text": "STARBOARD VALUE RESERVES THE RIGHT TO CHANGE ANY OF ITS OPINIONS EXPRESSED HEREIN AT ANY TIME AS IT DEEMS APPROPRIATE. STARBOARD VALUE DISCLAIMS ANY OBLIGATION TO UPDATE THE INFORMATION CONTAINED HEREIN.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "08ac9696-b8bf-46b3-9004-5c03ed62bd51",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.118,
        "w": 0.914,
        "x": 0.043,
        "y": 0.313
      },
      "kind": "disclaimer",
      "text": "STARBOARD VALUE HAS NOT SOUGHT OR OBTAINED CONSENT FROM ANY THIRD PARTY, OTHER THAN ITS NOMINEES AND ADVISORS, TO USE ANY STATEMENTS OR INFORMATION INDICATED HEREIN AS HAVING BEEN OBTAINED OR DERIVED FROM STATEMENTS MADE OR PUBLISHED BY THIRD PARTIES. ANY SUCH STATEMENTS OR INFORMATION SHOULD NOT BE VIEWED AS INDICATING THE SUPPORT OF SUCH THIRD PARTY FOR THE VIEWS EXPRESSED HEREIN. NO WARRANTY IS MADE THAT DATA OR INFORMATION, WHETHER DERIVED OR OBTAINED FROM FILINGS MADE WITH THE SEC OR FROM ANY THIRD PARTY, ARE ACCURATE.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1a224755-e17a-4592-a7c0-102dc979447f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.049,
        "w": 0.914,
        "x": 0.043,
        "y": 0.433
      },
      "kind": "disclaimer",
      "text": "EXCEPT FOR THE HISTORICAL INFORMATION CONTAINED HEREIN, THE MATTERS ADDRESSED IN THIS PRESENTATION ARE FORWARD-LOOKING STATEMENTS THAT INVOLVE CERTAIN RISKS AND UNCERTAINTIES. YOU SHOULD BE AWARE THAT ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE CONTAINED IN THE FORWARD-LOOKING STATEMENTS.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "34b8dd09-15d2-4b34-bccd-767017556b3e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.118,
        "w": 0.914,
        "x": 0.043,
        "y": 0.645
      },
      "kind": "disclaimer",
      "text": "STARBOARD VALUE SHALL NOT BE RESPONSIBLE OR HAVE ANY LIABILITY FOR ANY MISINFORMATION CONTAINED IN ANY SEC FILING, ANY THIRD PARTY REPORT OR THIS PRESENTATION. THERE IS NO ASSURANCE OR GUARANTEE WITH RESPECT TO THE PRICES AT WHICH ANY SECURITIES OF THE ISSUER WILL TRADE, AND SUCH SECURITIES MAY NOT TRADE AT PRICES THAT MAY BE IMPLIED HEREIN. THE ESTIMATES, PROJECTIONS AND PRO FORMA INFORMATION SET FORTH HEREIN ARE BASED ON ASSUMPTIONS THAT STARBOARD VALUE BELIEVES TO BE REASONABLE, BUT THERE CAN BE NO ASSURANCE OR GUARANTEE THAT ACTUAL RESULTS OR PERFORMANCE OF THE ISSUER WILL NOT DIFFER, AND SUCH DIFFERENCES MAY BE MATERIAL. THIS PRESENTATION DOES NOT RECOMMEND THE PURCHASE OR SALE OF ANY SECURITY.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "557fe120-66a9-4bb8-9282-c3bc86f62a57",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.118,
        "w": 0.914,
        "x": 0.043,
        "y": 0.506
      },
      "kind": "disclaimer",
      "text": "WHILE WE EXPECT THAT OUR TURNAROUND PLAN WILL BE IMPLEMENTED, IF A MAJORITY OF OUR NOMINEES ARE ELECTED, DEPENDING ON THE CIRCUMSTANCES EXISTING AT THE TIME OF THE NOMINEES’ ELECTION, THERE CAN BE NO GUARANTEE THAT THE TURNAROUND PLAN WILL BE ULTIMATELY IMPLEMENTED. THERE CAN ALSO BE NO GUARANTEE THAT EVEN IF IMPLEMENTED, THAT THE TURNAROUND PLAN WILL ULTIMATELY CREATE VALUE FOR SHAREHOLDERS. HOWEVER, THE VALUE ENHANCING INITIATIVES UNDER THE TURNAROUND PLAN HAVE BEEN CAREFULLY DEVISED WITH THE ASSISTANCE OF A GROUP OF ADVISORS, TOGETHER WITH OUR NOMINEES, WITH AN EYE TOWARDS IMPROVING THE COMPANY’S OPERATIONS AND ENHANCING SHAREHOLDER VALUE.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "9aec9feb-370b-4b4b-b7b5-7f9195f95ee0",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.025,
        "w": 0.914,
        "x": 0.043,
        "y": 0.838
      },
      "kind": "disclaimer",
      "text": "UNDER NO CIRCUMSTANCES IS THIS PRESENTATION TO BE USED OR CONSIDERED AS AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY SECURITY.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bc26eaf5-cf43-4ba9-acc9-edec8bd2f2d8",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.049,
        "w": 0.914,
        "x": 0.043,
        "y": 0.882
      },
      "kind": "disclaimer",
      "text": "CERTAIN OF THE ANALYSES SET FORTH HEREIN ARE BASED IN PART ON INFORMATION PROVIDED BY GREEN STREET ADVISORS, INC. AND CONSTITUTES CONFIDENTIAL AND PROPRIETARY, AND TRADE SECRET INFORMATION OF GREEN STREET ADVISORS THAT MAY NOT BE PUBLISHED, QUOTED, COPIED, OR DISSEMINATED TO ANY THIRD PERSON OR ENTITY WITHOUT GREEN STREET’S WRITTEN PERMISSION.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c6a0cb78-de16-4d46-8568-ca66eb0d9a77",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.235,
        "w": 0.914,
        "x": 0.043,
        "y": 0.157
      },
      "kind": "disclaimer",
      "text": "THIS PRESENTATION IS FOR DISCUSSION AND GENERAL INFORMATIONAL PURPOSES ONLY. IT DOES NOT HAVE REGARD TO THE SPECIFIC INVESTMENT OBJECTIVE, FINANCIAL SITUATION, SUITABILITY, OR THE PARTICULAR NEED OF ANY SPECIFIC PERSON WHO MAY RECEIVE THIS PRESENTATION, AND SHOULD NOT BE TAKEN AS ADVICE ON THE MERITS OF ANY INVESTMENT DECISION. THE VIEWS EXPRESSED HEREIN REPRESENT THE OPINIONS OF STARBOARD VALUE LP (“STARBOARD VALUE”), AND ARE BASED ON PUBLICLY AVAILABLE INFORMATION WITH RESPECT TO DARDEN RESTAURANTS, INC. (THE “ISSUER”). CERTAIN FINANCIAL INFORMATION AND DATA USED HEREIN HAVE BEEN DERIVED OR OBTAINED FROM PUBLIC FILINGS, INCLUDING FILINGS MADE BY THE ISSUER WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”), AND OTHER SOURCES.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "f76690c6-9fad-4931-a79a-4a9ab281c36c",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}