Icahn Enterprises (IEP) Investor presentation summary

Company structure and ownership

• Operates as a diversified holding company with businesses in investment, energy, automotive, real estate, food packaging, home fashion, and pharma.

• Majority owned and controlled by Carl Icahn, who, with affiliates, holds about 86% of outstanding units as of March 31, 2026.

• Maintains significant liquidity with $2.2 billion invested in proprietary investment funds as of March 31, 2026.

• Annualized distribution of $2.00 per unit, representing a 25.06% yield as of May 7, 2026.

Business segments and operations

• Energy segment includes petroleum refining and nitrogen fertilizer manufacturing, with two refineries and two fertilizer plants.

• Automotive segment focuses on repair and maintenance services, operating over 800 stores and 7,000 service bays; exited aftermarket parts business in Q1 2025.

• Real estate segment manages investment properties, development projects, and a country club.

• Food packaging segment (Viskase) produces casings for the meat and poultry industry, with global operations.

• Home fashion (WestPoint Home) and pharma (Vivus) segments focus on consumer products and specialty pharmaceuticals, respectively.

Financial performance and key metrics

• For the twelve months ended March 31, 2026, consolidated net loss attributable to the partnership was $336 million, with adjusted EBITDA of $206 million.

• Energy segment contributed $186 million in adjusted EBITDA, while automotive and food packaging segments posted losses.

• Indicative net asset value as of March 31, 2026, was $3.37 billion.

• Total consolidated assets stood at $12.93 billion as of March 31, 2026.