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TCI Annual Investor Event

June 21, 2023

9am to 5:30pm EDT

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event date time appointment Wednesday, June 21
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‎Registration and Breakfast

08:00-09:00 EDT

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Performance and Portfolio Review

09:00-09:30

Chris Hohn

Canadian Railroads

09:30-10:15

Interview with Tracy Robinson, CEO of Canadian National Chris Hohn, Ben Walker

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Moody's

10:15-11:00

Interview with Rob Fauber, CEO of Moody’s Alex Baring

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Break (15min)

11:00-11:15

General Electric and Aerospace

11:15-12:15

Interview with Larry Culp, CEO of General Electric (pre-recorded) Chris Hohn, Ben Walker

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Visa

12:15-13:15

Interview with Ryan McInerney, CEO of Visa (LIVE via video link) Alex Baring

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Lunch (1hr)

13:15-14:15

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Vinci

14:15-15:15

Interview with Xavier Huillard, CEO of Vinci Jonathan Amouyal

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Alphabet, Microsoft

15:15-16:00

Max Schroeder, Tobias Brickel

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Break (15min)

16:00-16:15

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S&P Global

16:15-16:25

Alex Baring

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Thermo Fisher

16:25-16:35

Max Schroeder

Cellnex, Ferrovial

16:35-16:45

Jonathan Amouyal

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TCI Process and Activism and Q&A

16:45-17:30

Chris Hohn, Jonathan Amouyal, Alex Baring, Tobias Brickel, Max Schroeder, Ben Walker Moderated by Larry Kochard, CIO of Makena Capital Management

TCI Evening Reception

17:30-22:00

Ascent Lounge 10 Columbus Circle, 4th Floor New York, NY 10019 Please join us for Music, Cocktails & Dinner Directions from 36th floor of Mandarin Oriental: Take elevators to the 3rd floor mall area. Take the escalator up to the 4th floor. The Ascent Lounge will be on your left.

Speakers

Chris Hohn, Portfolio Manager, TCI

Chris Hohn is the Founder, Managing Director and Portfolio Manager of TCI Fund Management Limited. He is based in London and has over 26 years’ experience in the investment industry. Mr. Hohn was the Portfolio Manager of the European event-driven investment strategy at Perry Capital from 1997 to the start of 2003. This strategy employed capital in the main Perry Partners L.P. fund from 1997 to 2003 and from June 2000 to May 2003 in the separate Perry Capital European Fund. Mr. Hohn led the establishment of a London office for Perry Capital in 1998. From 1994 to 1995 Mr. Hohn was an Associate at Apax Partners in London and from 1989 to 1991 he was a Manager in the Corporate Finance Division of Coopers & Lybrand in London. Mr. Hohn graduated from Harvard Business School in 1993 with an MBA (high distinction) and from Southampton University (UK) in 1988 with a BSc. in Accounting and Business Economics (1st Class Honours). He is a CFA Charterholder.

Alex Baring, Analyst, TCI

Alex Baring is a Partner and Analyst to the Firm, based in London. He is a generalist, but also specialises in the consumer products, financial services and TMT sectors. Mr. Baring joined TCI in 2006 from JP Morgan Cazenove in London where for 5 years he was a pan-European analyst and ultimately Head of the German and Swiss multi-sector research teams. Mr. Baring graduated from Bristol University with a MSc. in Physics and Philosophy. He is a CFA Charterholder.

Ben Walker, Analyst, TCI

Ben Walker is a Partner and Analyst to the Firm, based in London. He joined the firm in January 2011. He is a generalist, but also specialises in the industrial and transportation sectors. Prior to joining TCI, Mr. Walker worked at Gartmore Investment Management for 13 years where he managed US and Global equity long-only and long/short funds. Mr. Walker graduated from Oxford University with an MA in Politics, Philosophy and Economics, before starting his career at Arthur Andersen where he qualified as a Chartered Accountant. He is a CFA Charterholder.

Jonathan Amouyal, Analyst, TCI

Jonathan Amouyal is a Partner and Analyst to the Firm, based in London. He is a generalist, but also specialises in the consumer products, telecom and technology industries. Mr. Amouyal joined the Firm in March 2012 from Goldman Sachs Investment Partners (GSIP) where he was a senior analyst in their European investment team. Whilst at GSIP, Mr. Amouyal invested across the capital structure in both public and private markets. Prior to this, Mr. Amouyal was part of the M&A team at Bank of America Merrill Lynch in both London and New York. Mr. Amouyal graduated with a BSc. in Economics & Accounting from the Université Lyon II and also holds an MSc. in Financial Engineering from the EM Lyon business school. Mr. Amouyal is fluent in French, English and Spanish and has a good understanding of Portuguese and Hebrew.

Max Schroeder, Analyst, TCI

Max Schroeder is a Partner and Analyst to the Firm, based in London. He is a generalist and covers a wide range of sectors. Prior to joining TCI in September 2017, Mr. Schroeder worked for Blackstone’s Private Equity Group in London, focusing on investments in the industrials, technology and media sectors. He graduated from the London School of Economics with a BSc. in Mathematics and Economics and is fluent in German and English.

Tobias Brickel, Analyst, TCI

Tobias Brickel is a Partner and Analyst to the Firm, based in London. He is a generalist and supports the analysts across a wide range of sectors. Prior to joining TCI in May 2019, Mr. Brickel was a Partner at London-based investment fund Industrial Equity Partners LLP, focusing on investments in Information Technology, Business Services and Consumer sectors. Mr. Brickel began his career as an analyst for Bodenholm Capital in Stockholm and in London. He graduated from the Stockholm School of Economics with a MSc. in Finance and a CEMS Master’s in International Management. He is fluent in both German and English.

Tracy Robinson, President and CEO, Canadian National

Tracy Robinson was appointed President and Chief Executive Officer of CN on February 28, 2022 and is responsible for CN’s strategic direction and leadership. Prior to joining CN, Ms. Robinson was Executive Vice President of TC Energy, President of Canadian Natural Gas Pipelines and President of Coastal GasLink, where she was responsible for the operation and profitability of the company’s federally and provincially regulated natural gas pipeline assets. Ms. Robinson helped advance TC Energy’s relationships with Indigenous partners across the country, including the development of agreements with a number of Indigenous communities in Alberta and the advancement of agreements with all 20 of the First Nations along the Coastal GasLink corridor. Ms. Robinson’s deep experience in the railway industry stems from her 27 years at Canadian Pacific Railway. There, she served in executive roles in the commercial, finance and operation functions, including as General Manager of Transportation Services, Vice President and Treasurer, and Vice President of Marketing and Sales. She is a member of the Campaign Committee and the Dean’s Advisory Council at the Edward’s School of Business of the University of Saskatchewan. She has also represented TC Energy on the Board of the Canadian Gas Association. Ms. Robinson holds a Masters of Business Administration from the University of Pennsylvania’s Wharton School of Business and a Bachelor of Commerce Degree from the University of Saskatchewan. She received her Institute of Corporate Directors designation in 2015.

Larry Culp, Chairman and CEO, GE and CEO, GE Aerospace

H. Lawrence (Larry) Culp, Jr., is the Chairman and Chief Executive Officer of GE and Chief Executive Officer of GE Aerospace. Larry is GE’s twelfth CEO and eleventh Chairman. He joined the GE Board of Directors in April 2018 and was appointed CEO of GE in October 2018. In June 2022, he was appointed CEO of GE Aerospace. As CEO, Larry has led GE’s transformation to become a more focused, simpler, and stronger high-tech industrial company. Under his leadership, GE’s total gross debt reduction will be more than $90 billion through 2022. He has championed lean, bringing a focus on customer value, driving improvements in safety, quality, delivery, and cost, and running the company closer to the customer by creating nearly thirty P&Ls to increase operational visibility. Larry has also led the transformation of GE’s portfolio, including the sales of GE Capital Aviation Services (GECAS), Lighting, BioPharma, and the completion of the spin of GE Transportation along with its subsequent merger with Wabtec. In November 2021, GE announced its plan to form three industry-leading, global public companies focused on the high-growth sectors of aviation, healthcare and energy. Larry will serve as non-executive chairman of the GE healthcare company upon its expected spin-off in early 2023. He will continue to serve as chairman and CEO of GE and CEO of GE Aerospace until the spin-off of the combined GE Renewable Energy and Power businesses, at which point, he will lead the GE aviation-focused company going forward. Prior to joining GE, Larry served as the President and CEO of Danaher Corporation from 2000 to 2014, and during his tenure the company increased both its revenues and its market capitalization five-fold. Investors and analysts consistently ranked him as one of the top CEOs in annual Institutional Investor surveys, and Harvard Business Review named Larry one of the Top 50 CEOs in the world. Larry joined Danaher in 1990 at Veeder-Root, becoming President in 1993. He was appointed Group Executive and Corporate Officer in 1995, with responsibility for Danaher’s Environmental and Electronic Test and Measurement platforms while also serving as President of Fluke and Fluke Networks. He was named Executive Vice President in 1999, Chief Operating Officer in 2001, and President and CEO in 2001. Larry is a member and the immediate past chair of the Board of Visitors and Governors of his alma mater, Washington College, and also serves on the Wake Forest University Board of Trustees. Previously, Larry was a Senior Lecturer at Harvard Business School, where he focused on leadership, strategy and general management in the MBA and executive education programs. A member of Phi Beta Kappa, Larry earned a B.A. in Economics from Washington College and an MBA from Harvard Business School.

Robert Fauber, President and CEO, Moody's

Robert Fauber became President and Chief Executive Officer of Moody’s Corporation on January 1, 2021 and was elected to the Board of Directors effective October 22, 2020. Mr. Fauber joined Moody’s in 2005 and has held multiple leadership roles at Moody’s. Until his appointment as CEO, he was Moody’s Chief Operating Officer and drove strategic initiatives across the company. He served as President of Moody’s Investors Service from 2016 to 2019 and was Head of Moody’s Investors Service’s Global Commercial Group from 2013 to 2016, overseeing relationship management, product development, and strategy for the rating agency. Mr. Fauber has also served as Head of Moody’s Corporate Development. Prior to Moody’s, he held roles in alternative investments, corporate strategy & business development, and investment banking at Citi. Mr. Fauber earned his B.A. in economics from the University of Virginia and his M.B.A. from the Johnson School of Management at Cornell University. He and his wife have two children.

Ryan McInerney, CEO, Visa

Ryan McInerney has been with Visa since June of 2013 and serves as Chief Executive Officer. Prior to assuming the role of CEO in February 2023, he was President, responsible for Visa’s global businesses. Prior to joining Visa, Mr. McInerney served as Chief Executive Officer of consumer banking for JPMorgan Chase, a business with more than 75,000 employees and revenues of approximately $14 billion. Previously, Mr. McInerney served as Chief Operating Officer for home lending and as Chief Risk Officer for Chase’s consumer businesses. He also served as Chase’s head of product and marketing for consumer banking. Previously, Mr. McInerney was a principal at McKinsey & Company in the firm’s retail banking and payments practices. Mr. McInerney received a Bachelor of Science in finance from the University of Notre Dame.

Xavier Huillard, Chairman and CEO, VINCI

Xavier Huillard is a graduate of the École Polytechnique and the École Nationale des Ponts et Chaussées (Ponts ParisTech). He has spent most of his working life in the construction industry in France and abroad. Mr. Huillard joined Sogea in December 1996 as Deputy Chief Executive Officer in charge of international activities and specific projects, and then became its Chairman and Chief Executive Officer in 1998. He was appointed Deputy General Manager of VINCI in March 1998 and was Chairman of VINCI Construction from 2000 to 2002. He was appointed Co-Chief Operating Officer of VINCI and was Chairman and Chief Executive Officer of VINCI Energies from 2002 to 2004, then Chairman of VINCI Energies from 2004 to 2005. Mr. Huillard became Director and Chief Executive Officer of VINCI in 2006 and was appointed Chairman of the Board of Directors and Chief Executive Officer of VINCI on 6 May 2010.

Larry Kochard, Chief Investment Officer, Makena Capital Management

Larry Kochard is the Chief Investment Officer at Makena Capital Management and a member of Makena’s Executive Committee. Larry was previously the Chief Executive Officer and Chief Investment Officer of the University of Virginia Investment Management Company (UVIMCO) for seven years. As CEO, Larry provided leadership for all aspects of UVIMCO’s operations and served as UVIMCO’s primary representative to the university, related foundations, and the public. As CIO, Larry was responsible for the investment management of UVIMCO’s Long Term Pool, overseeing the asset allocation, portfolio management, risk management and manager selection activities of the investment staff. Prior to joining UVIMCO, Larry served as CIO at Georgetown University. From 2001 to 2004, he was Managing Director of Equity and Hedge Fund Investments for the Virginia Retirement System. From 1997 to 2004, he taught in the McIntire School of Commerce at the University of Virginia, first as an adjunct and later as a full-time assistant professor. He spent the early part of his career in debt capital markets at Goldman Sachs and corporate finance at Fannie Mae and DuPont. Larry received his B.A. in Economics from the College of William & Mary, an M.B.A. degree in Finance and Accounting from the University of Rochester, and an M.A. and Ph.D. in Economics from the University of Virginia. He is a CFA Charterholder.

Accommodation

A limited number of rooms will be available at a reduced rate ($705/night) at the Mandarin Oriental. If you would like to book a room using this discount, please call Reservations at +1 212 805 8800 and quote “TCI Investor Event” at the time of booking.

Please ensure you book before May 19, 2023.

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Live Stream

The presentations will be live streamed. A recording will also be available on the TCI investor portal after the event. A link will be provided closer to the event.

postal Questions?

E-mail: irteam@tcifund.com

Registration for this event has ended.