MOCHA

One of the largest leisure food retailer and multi-brand operation and management company in China Business overview • As one of the largest multi-brand management companies in China's leisure food retail sector, the “company”, headquartered in Shanghai, manages, operates and franchises close to 10 F&B brands, nearly 1,000 stores in 150+ cities across 25 major provinces and regions in Greater China and Southeast Asia • The factories strategically located in Shanghai and Hong Kong ensure the quality control and enables the rapid store expansions within respective regions • The Company adopts a diversified approach in product sales through its direct stores, franchise stores, online/take-out and other channels • Well-established franchise model and extensive franchisee network nationwide to accelerate the expansion of both existing and new brands Basic key Store information: • Northern China: 197stores • Eastern China: 538stores • Southwest China: 85stores • Hong Kong & SEA: 40stores • Southern China: 204stores Basic financial data & information • Total revenue is expected to increase 7% and reach RMB360m in2018 vs. 2017 • Net profit margin expected to reach 10% • EBITDA expected to grow 10% in 2018 vs. 2017; 2015-2018's EBITDA CAGR is 15%; EBITDA margin maintained at ~17% • Strong cash flows with ample cash on balance; shareholders enjoy healthy dividends on annual basis Investment highlights • Explosive Growth and Attractive Markets: The size of China‘s snack food market will exceed RMB620bn by 2020 with growth of 20% per annum for the dessert segment • Market Leaders with High Customer Loyalty: Its core brands are all ranked as No.1 in their respective market segments with the highest level of brand awareness • Sophisticated Central Factory to Support Markets: The central factories in China and Hong Kong cover a total floor space of >10,000m2 • The central factories in China and Hong Kong cover a total floor space of >10,000m2 • Key equipment technologies are imported from Japan and Italy: The central factories in China and Hong Kong cover a total floor space of >10,000m2; Key equipment technologies are imported from Japan and Italy • Extensive Franchisee Network: The vast nationwide franchisee network ensures the success of both existing brands and new F&B concepts • Highly Replicable Model for Rapid Expansion: Key characteristics such as assets light, low Capex, flexible location, and short payback periods, all ensure the swift roll out of new stores and launch of new concepts • Quick Response to Market: The Company is able to react quickly to the marketing trend and create new products and concepts that are popular among consumers • Strong Growth Prospects: Increase online and delivery sales; Launch of new brands and products; Development of new franchisees and leverage its huge network of existing franchisees to promote new brands and products

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COLNATUREFOODS

Es una compañía fundada hace 29 años en el mercado colombiano dedicada a la distribución de productos naturales (200 referencias) incluyendo ajonjolí, granola, almendra, maní, arándano, miel, avena, mixtura, ciruela, nuez, coco pistacho, pasas, cereales, frutos secos, leche de soja y pistachos. La empresa distribuye estos productos naturales tanto para clientes institucionales como para canales de distribución al por menor (retail). La compañía cuenta con 1500 clientes in diferentes regiones de Colombia, ninguno de ellos es representativo en las ventas, el 60% de los productos son importados. Durante el último año la empresa creció un 36% en sus ventas y cuenta con un margen Ebitda ajustado de 15,7% (aprox. US $750.000)

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