Carl Icahn's Detailed Presentation On 'Rescuing And Revitalizing' Xerox

Carl Icahn And Darwin Deason Release Open Letter and Presentation To Xerox Shareholders

Xerox’s Two Largest Individual Shareholders Release Presentation on Rescuing and Revitalizing the Company

New York, New York, April 17, 2018 – Today, Carl Icahn and Darwin Deason released the following open letter to shareholders of Xerox Corporation (NYSE:XRX):

Fellow Shareholders:

As promised, today we released a presentation explaining why Xerox shareholders need to vote to replace certain directors and to oppose the proposed Fuji scheme.

Both the substance of the proposed value-destroying transaction and the conflict-tainted process by which it was hatched are an insult to long-suffering Xerox shareholders and make a mockery of well-established corporate governance norms.

Fuji - with the able assistance of