Investor Presentaiton

Store roll-out opportunity exists even in Core Region REASONS FOR NOT VISITING, GIVEN BY THOSE AWARE OF JAWOLL, (2014 ONLINE SURVEY, N=483) 68% Not aware 16% 3% 3% 12% Other The products are poor quality I prefer to visit a different store Another store is more convenient for me • Despite modest store footprint, there is 32% awareness of Jawoll brand in its Core North West Germany Region Two thirds of those aware of Jawoll do not have a convenient store nearby Aware 32% 67% No nearby Jawoll store North-West region Aware of Jawoll Note: Core region is North-West Germany including Niedersachsen and Schleswig-Holstein bm June 2016 - Germany Analyst and Investor Day ས 7

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