2018 Guide to Effective Proxies

6 TH EDITION | GUIDE TO EFFECTIVE PROXIES 40 NASDAQ, INC. NIELSEN HOLDINGS PLC PEABODY ENERGY CORPORATION PINNACLE FOODS INC. Letter from Our Board of Directors Proposal 3: Approval of the Equity Plan, as Amended and Restated 3 MARCH 14, 2018 Thank you for your interest inNasdaq and for trusting us to oversee and grow your investment in our business. In2017,we haveworked to create value for our stockholders and to positionNasdaq for continued success over the long term. LEADERSHIP TRANSITION One of theBoard’smost important responsibilities is to oversee the CEO succession process and to ensure a successful and orderly leadership transition. Following years of planning, on January1,2017,Adena T. Friedman became thePresident and CEO of Nasdaq. InMay2017, theBoard electedMichaelR. Splinter, the retired Chairman and former CEO ofAppliedMaterials, asBoard Chairman. The leadership transition arrived at an important time forNasdaq aswe began to refocus our business for the future. STRATEGIC PIVOT Early in2017,with the full support of theBoard, ourmanagement team initiated a comprehensive reviewofNasdaq’s strategy andbusinesses that resulted in a strategicpivot for the organization. The new corporate strategy is designed to focus our resources on the greatestgrowthopportunitieswhile retainingourgoalofdouble-digit total stockholder return. As a result,we intend to increase investment in: ourMarket Technology segment, including ourmarket infrastructure and regulatory technology businesses; our Information Services segment, including our data analytics capabilities; and a select number of smaller growth businesses, includingNasdaqPrivateMarket.We intend tomaintain our investments in our core businesses, notably our foundational trading and listings businesses. Finally, we intend to review areas that are not critical to our core. In these areas,we expect to target resiliency and efficiency versus growth, and thus free up and redirect our resources toward greater opportunities. Ourfinancial resultswere strong in2017,with full-year net revenue 1 at a record $2.43 billion.2017GAAP diluted EPSwas $4.33, compared to $0.64 in2016,while2017 non- GAAP diluted EPS 2 was $4.06, a10% increase compared to the prior year. Dear Fellow Stockholders, The new corporate strategy is designed to focus our resources on the greatest growth opportunitieswhile retaining our goal of double- digit total stockholder return. 2017 GAAP diluted EPS 1 Represents revenues less transaction-based expenses. 2 Refer toAnnexA forour reconciliationsofU.S.GAAP tonon-GAAPnet income anddilutedEPS. Total of 08 pages in section (incorporatedandregisteredinEnglandandWaleswithregisteredno.09422989) RegisteredOffice: NielsenHouse JohnSmithDrive Oxford Oxfordshire OX42WB UnitedKingdom April9,2018 DearFellowShareholders: OnbehalfoftheBoardofDirectors(the“Board”),IcordiallyinviteyoutoattendtheAnnualGeneralMeetingof ShareholdersofNielsenHoldingsplc(the“Company”or“Nielsen”)tobeheldat9:00a.m.(EasternTime)onTuesday, May22,2018(the“AnnualMeeting”).Thisyear,ourshareholdersmayeitherattendtheAnnualMeetingonlineorin person. Wecontinuetoembracethelatesttechnologytoprovideexpandedshareholderaccessandimproved communicationforourshareholdersbyfacilitatingattendanceonline.Webelievethatfacilitatingattendanceonline willenableshareholderswhomightnototherwisedesireorbeabletotraveltoaphysicalmeetingtoattendonline andparticipatefromanylocationaroundtheworld.Allshareholderswhoattendthemeetingeitheronlineorin personwillbeabletoaskquestionsandvoteduringthemeeting. Toattendonline,pleasevisit: nielsen.onlineshareholdermeeting.com and,toattendinperson,pleasecometo50 DanburyRoad,Wilton,CT06897.ForadditionalinformationaboutattendingtheAnnualMeetingpleaseseethe “GeneralInformationandFrequentlyAskedQuestionsAbouttheAnnualMeeting”sectiononpages81to85ofthis proxystatement. OurBoardhasfixedthecloseofbusinessonMarch23,2018astherecorddateforthedeterminationof shareholdersentitledtonoticeofandtovoteatourAnnualMeetingandanyadjournmentsorpostponements thereof. WhetherornotyouplantoattendtheAnnualMeeting,itisimportantthatyoursharesberepresentedandvotedat themeeting.YoumayvoteyoursharesbyproxyontheInternet,bytelephoneorbycompleting,signingand promptlyreturningtheproxycard(ifyoureceivedone)priortothemeetingorbyattendingtheAnnualMeetingand votingonlineorinperson. WearepleasedtoonceagainutilizetheU.S.SecuritiesandExchangeCommission(“SEC”)ruleallowingcompaniesto furnishproxymaterialstotheirshareholdersovertheInternetratherthaninpaperform.Webelievethatthise-proxy processwillexpediteourshareholders’receiptofproxymaterials,lowerthecostsandreducetheenvironmental impactofourAnnualMeeting.Accordingly,unlessyouhavepreviouslyrequestedtoreceiveproxymaterialsinpaper form,youwillreceiveaNoticeofInternetAvailabilityofProxyMaterials(the“Notice”).IfyoureceivedaNoticebymail anddidnotreceive,butwouldliketoreceive,aprintedcopyofourproxymaterials,youshouldfollowtheinstructions forrequestingsuchmaterialsincludedonpage79ofthisproxystatementorintheNotice. InaccordancewiththeUKCompaniesAct2006,theformalnoticeoftheAnnualMeetingissetoutonthepages followingthe“SummaryofProxyStatementInformation.” OurproxymaterialsarefirstbeingdistributedormadeavailabletoshareholdersonoraboutApril9,2018. Thankyouforyourcontinuedsupport. Sincerely, MitchBarns ChiefExecutiveOfficer 2018PROXYSTATEMENT LTR LETTER FROM OUR INDEPENDENT BOARD CHAIR April20,2018 Dear Fellow Shareholders: Itisourpleasuretoinviteyoutoparticipateinthe2018AnnualMeetingofShareholders ofPinnacleFoodsInc.at10:00a.m.,EasternDaylightTime,onWednesday,May30, 2018.WewillbeconductingourAnnualMeetingofShareholdersbymeansofremote communicationviatheInternet.Toattendthemeeting,pleaselogonat www.virtualshareholdermeeting.com/PF2018 .Atthissiteyouwillbeabletovote electronicallyandsubmitquestionsduringtheAnnualMeeting.Youwillneedthe16-digit controlnumberincludedwiththeseproxymaterialstoattendtheAnnualMeeting. AsPinnacleFoods’IndependentBoardChairmanandLeadDirector,Iamwritingtothank youforyourinvestmentandsharewithyouafewhighlights. SinceourIPOinMarch2013,wehavedelivered~200%TotalShareholderReturn(~26% onanannualizedbasis,includingreinvestmentofdividends),outperformingtheS&P500 (up~88%)andtheS&P500PackagedFood&MeatIndex(up~57%). Weremainfocusedontheinnovationsandsmartacquisitionsthatwillhelpusrespondto consumerneedsanddrivegrowth,inaneraofevolvingconsumerfood-purchasing behaviorsandrapidlychangingretailenvironment. WeknowthatoneofourmostimportanttasksasaboardistoselectasuperbCEO.We believethatPinnacle’sCEOMarkClouseisjustthat.WeareproudofMark’sperformance sincehejoinedPinnacleinMay2016.Butweareequallyproudthatheisthekindof leaderwhogetsthebestoutofothers.Overtime,webelievethisisabetterguarantorof sustainablesuccessthanalmostanythingelse. Iamalsohonoredbytheexperience,highlevelofrelevantskillsanddedicationofmy boardcolleagues.Anumberofourdirectorshaveindividuallypurchasedshares, demonstratingtheirconfidenceinourCompanyanditslongtermstrategy.Weare heartenedbythe96.5%supportyougaveourpayplanslastyearandhumbledbythe over99%supportyougavetoourdirectorsthatranforre-election. Weencourageyoutosupportuswithyourvotesandurgeyoutoreadthepagesthat followtocastinformedvotes.WeinviteyoutoattendourAnnualMeetingandtoshare yourthoughtswithusthroughouttheyearviathemeanssummarizedinthisproxy.Again, thankyouforplacingyourfaithinus.Weworktoearniteveryday. Sincerely, RogerK.Deromedi IndependentChairmanoftheBoardandLeadDirector DearFellowStockholder: ItismypleasuretoinviteyoutoattendourannualmeetingofstockholdersonThursday,May10inSt.Louis. ThiswillbeourfirstannualmeetingfollowingayearofsignificantchangeandaccomplishmentforPeabody. WebelievethatstockholdersinBTUbenefitedinmultiplewaysfollowingthecompany’semergencefrom restructuringinApril2017.Thesharepriceincreased79percentfromitsmodifiedplanvalue,2018 deleveragingtargetswereachievedayearaheadofschedule,theongoingsharebuybackprogramcontinuesto beimplemented,andtheboardauthorizedadividendprogramearlythisyear.Thesebenefitsaccompany Peabody’smultipleoperationalandfinancialachievementsthatareoutlinedinourannualreportandother communications. Thecompletedrestructuringprocesswasnecessarygiventheunparalleledissuesandextendeddownturnfor thecoalindustry.Atthesametime,werecognizethisactioncreateddifficultchallengesformanyofour stakeholders.Webelievethatthesubstantialaccomplishmentssincethecompanyemergedaretangiblesigns ofthecommitmentthatmanagementandthenewboardhavetowardcreatingvalueforthelongtermforour stockholders. AtPeabody,wealsobelievethathowwebehaveisjustasimportantaswhatwedo.Peabodyhasbeen frequentlyrecognizedforourenvironmental,socialandgovernancepractices,andweinviteyoutofurther exploreourapproachthroughourCorporateandSocialResponsibilityReport,ourStatementonEnergyand ClimateChange,ourperformanceinsafetyandsustainabilityandtheotherelementsaroundwhatwecall“Coal DoneRight.” AsPeabodyrelistedin2017,wedidsowithafocusonstronggovernanceandoversight,andwebelieveour approachonthisfronthasbeensuccessful.Iamproudtohavebeenaskedbymyfellowdirectorstoleadthe newlyconstitutedboard,whichincludeseightofninedirectorswhoareindependent.Theyarethoughtfuland engaged,andcomefromleadingcompanieswithglobalreachandexperienceacrossmanyindustries.In additiontoprovidingoversightongoodgovernance,strategyandriskmanagement,ourboardalsohas designedacompensationprogramthatisconsistentwithbestpracticesandpeersandalignsmanagementwith stockholders.ThatalignmentcarriesthroughtotheentirePeabodyteam,andallemployeesatalllevelswere offeredemergencegrantsin2017. Webelievethereismuchtolikeaboutourcompanyin2018andbeyond,andwebegintheyearwithan emphasisondeliveringresultsandgeneratingvalue.Ourfinancialapproachwillcontinuetobefocusedon generatingcash,maintainingfinancialstrength,investingwiselyandreturningcashtostockholders. Onbehalfofourboardofdirectorsandmanagementteam,wethankyouforyoursupportofPeabody.Your voteisimportanttous,andweencourageyoutosubmityourvoteeitherelectronically,viatelephoneorin personasdescribedinthesematerials. BobMalone ChairmanoftheBoard