Home Value Investing Marcato Capital: Excellence in Investing Sotheby’s Presentation

Marcato Capital: Excellence in Investing Sotheby’s Presentation

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As of the date hereof, (i) Marcato and Mr. McGuire may be deemed to be the beneficial owners of 4,562,991 Shares (the “Marcato Shares”) constituting 6.68% of the Shares, (ii) Marcato, L.P. may be deemed to be the beneficial owner of 1,002,687 Shares, constituting 1.47% of the Shares, (iii) Marcato II, L.P. may be deemed to be the beneficial owner of 70,526 Shares, constituting 0.10% of the Shares and (iv) Marcato International Master Fund, Ltd. may be deemed to be the beneficial owner of 3,489,778 Shares, constituting 5.11% of the Shares, each based upon a total of 68,337,055 Shares outstanding as of July 31, 2013 (based on the Issuer’s Quarterly Report on Form 10-Q for the period ending June 30, 2013). Attached here to at Exhibit 3 is a presentation made by Marcato at the “Excellence in Investing: San Francisco” conference on October 23, 2013.

Marcato Capital Presentation by ValueWalk.com

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