Last Wednesday we had a great discussion on how Trian would impact P&G over the next year to two. What we know is that as far as activists groups go, they are among the best in the lot. They tend to work very constructively with senior management and the board and to have really great ideas on how to improve performance and get shareholder price up. Trian is not necessarily a bad thing and, in many cases, it could be something very positive. A big part of the discussion was about "What if I work at P&G?" While we talked about stock price, stock options and profit sharing, one thing we really emphasized was-  Do you need a Plan B? For some who work at P&G, they may not have the job security they thought they might have.  The best way to deal with that is to say, "If I need a Plan B, what is it?" This is where Lenox and our Wealth Creation Unique Process can really help. Do you know what your strengths are? Do you know where you add the most value? Do you understand where, if you left P&G, you could go where you might add value? Lenox also has new interactive financial planning technology. We an set up a base example of where you are financially.  You are able to  go in and run scenarios on the software and consider different options. This combination of tools is designed to help the P&G employee sort things out as Trian enters the stage. Please enjoy and share our PowerPoint presentation.

1. Lenox Family Office
June 7, 2017

2. Disclaimer and Disclosures
• This presentation is for illustrative purposes only.
• Past performance is not indicative of future results. The presentation is not intended to be either an expressed or
implied guarantee of actual performance, and we assume no liability for damages resulting or arising out of the
use of such information.
• Any reference to a chart, graph, formula, or software as a source of analysis used by the Lenox staff is one of
many factors used to make investment decisions for your portfolio. No one graph, chart, formula, or software can
in and of itself be used to determine which securities to buy or sell, when to buy or sell them, or assist any person
in making decisions as to which securities to buy or sell or when to buy or sell them. Any chart, graph, formula, or
software used is limited by the data entered and the created parameters.
• A complete list of all recommendations will be provided if requested for the preceding period of not less than one
year. It should not be assumed that recommendations made in the future will be profitable or will equal the
performance of the securities in this list. Opinions expressed are those of Lenox Wealth Management and are
subject to change, not guaranteed and should not be considered recommendations to buy or sell any security.
• The S&P 500 Index (“S&P 500”) is a market-value-weighted index consisting of 500 stocks chosen for market size,
liquidity, and industry group representation and does not include the reinvestment of dividends. The S&P 500 is an
unmanaged composite and investors cannot directly invest in the index. The Index reflects fees, brokerage
commissions or other expenses of investing. The S&P 500 is presented as total-return values, which include
returns from price appreciation as well as gross cash dividends. Index numbers are provided for comparative
purposes only.
• The results for all indices are obtained from third parties deemed by the adviser to be reliable. Nonetheless, the
adviser has not verified the results and cannot be assured of their accuracy. The results for all indices for the most
recent quarter may be calculated based on the trailing 13-week returns to approximate total returns for the quarter.
As a consequence, the results shown may not be identical the same period for which the portfolio performance is
shown. Indices are provided for comparative purposes only. All of the indexes are unmanaged and cannot be
invested in directly. Results do not reflect fees, brokerage commissions or other expenses of investing.
• Any calculations not sourced are prepared by Lenox Wealth Management staff
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3. History
• Since our founding in 1887 by William Cooper Procter, Lenox has
served the Procter & Gamble community.
• We were founded as a Savings and Loan to receive dividends from
P&G’s profit sharing plan.
• In 2004, Lenox sold the Savings and Loan and relaunched as a
Family Office.
• Today we specialize in working with corporate employees and their
families. This includes Procter & Gamble, E.W. Scripps, Scripps
Networks, and Kroger, amongst other.
Please see the disclosure slide at the beginning of the report.
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4. Lenox
4
Please see the disclosure slide at the beginning of the report.
• What is a Family Office?
• Fiduciary Relationship—Why should I care who pays Lenox?
• Our Core Offerings target life's transitions:
• Wealth Creation
• Career Changes
• Starting / Selling a Business
• Financial Education for you and your Children
• Wealth Management
• Financial / Retirement Planning
• Marriage / Divorce
• Wealth Impact
• Estate Planning
• Gifting
• Healthcare / Medicare decisions

5. P&G Stock Performance
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As of 06/06/2017 Year to
Date
2016 Trailing 5 years
Trailing 10 years
Procter & Gamble 6% 8% 44% 40%
Vanguard Consumer Staples ETF 9% 7% 75% 112%
S&P 500 9% 16% 90% 58%
Stock performance does not include
dividends
Please see the disclosure slide at the beginning of the report.

6. What do we know about Trian?
• They bring a private equity mindset to the public markets.
• They invest primarily in large companies.
• They typically buy at an attractive price and have specific plans and
timeframes in mind to significantly enhance shareholder value.
• They manage a focused portfolio of 7-10 investments.
• The investment in P&G is the largest they have ever made.
• They typically build a position and then quietly let management and
the Board know they have taken the position.
• They are willing to do proxy contests to change governance and the
direction of the company.
• They typically bring accountability to the shareholder by both the
Board and senior management.
• They typically hold investments between 3-5 years.
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7. What do we think the outcome will be?
• We believe this will be good for P&G shareholders and bring
greater economic value in a shorter period of time.
• Over the last several years, P&G has frequently traded below
intrinsic value. We believe with Trian’s involvement, P&G will
frequently trade closer to intrinsic value.
• We believe Trian will bring transformational change faster.
This may include:
• More aggressive headcount reductions
• Restructure the balance sheet
• A change in the dividend
• Break-up of the company
• We believe the company could trade between $120 and
$130/share over the next 36-48 months.
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8. Jobs Family Retirement Security Financial
BIG DECISIONS
You may be facing some
big decisions

9. The
Economy
Interest
Rates
Stock
Markets
The
Country
The
World
UNCERTAINTY
At a time of Uncertainty

10. UNCERTAINTYBIG DECISIONS
STRESS
How can Lenox help
reduce the stress?

11. What is your measurement of
success for a financial adviser?
Is it just about making money?
Is it about Funding a Life you Love?
WE CAN HELP!

12. 1. Do you know if you have job security?
2. Do you know your strengths and when you add the most
value?
3. Do you have clear career goals?
4. Is there chance your career goals might be better met
outside P&G?
5. If you make a career change, are your investments properly
invested?
6. Are you overly cautious and missing opportunities?
7. Does your current plan give you the confidence you need?
8. If you need one, do you have a plan B?
What’s important to you?

13. How do you establish priorities?

14. Lenox Wealth Creation
• What are my gifts?
• Kolbe®
• StrengthsFinder™
• Motivations Test
• Emotional IQ
• Who are they for?
• Life Mapping
• Put Your Dream to the Test
• 15 Laws of Lifetime Growth
• Intentional Living: From Success to Significance
• Future Focus and Dangers, Opportunities and Strengths (DOS)
• Relaunch! Don’t Retire: Retirement Trick
• How do I develop a lifetime growth plan to maximize them?
• Lunch and Learn Series
• Seminars
• Mastermind Series (John Maxwell)
• Quarterly Coaching
14

15. LENOX WEALTH MANAGEMENT’S
FINLIFE CLIENT EXPERIENCE

16. Lenox Hot Topic Q & A
John Lame
Chief Executive Officer
Jay Lame
Wealth Advisor

17. Next Steps
• Set up a complimentary review today!
• You can request an appointment for FinLife or
Coaching on the way out.
• If you know someone who would benefit from
our services please let us know, or take a card to
pass on.
17

18. Other Ways to Stay Connected
• Join our email list to receive P&G Outlook and
information on events
• Follow our Blog on fundalifeyoulove.com
• Follow us on Facebook
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19. Thank you for Joining Us
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20. Lenox
June 7, 2017