Following receipt by Yahoo of the September 8 Letter, Yahoo sought to arrange a conversation between Mr. Loeb and either Roy Bostock, the Chairman of the Board of Directors, or Jerry Yang, a founder and director of Yahoo. A telephone conversation was subsequently arranged for September 12, 2011 (the "September 12 Conversation"), between Mr. Loeb and Messrs. Bostock and Yang, in which others from Third Point and Yahoo participated. The Issuer confirmed, prior to the September 12 Conversation, that it would not provide any material non-public information about Yahoo to Third Point.[IM: Dan Loeb is protecting himseld against potential insider trading charges here. We believe whatever is disclosed in that meeting is really material information. We are glad Dan Loeb is sharing the details.]