Pickering Pacific. your reliable M&A partner in East Asia. M&A Specialists in East Asia Southeast Asia - Greater China

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1 pickeringpacific.com Pickering Pacific your reliable M&A partner in East Asia M&A Specialists in East Asia Southeast Asia - Greater China

2 Since 2004 Pickering Pacific has specialized in mergers & acquisitions involving East Asia OVERVIEW GEOGRAPHICAL COVERAGE Established in 2004, Pickering Pacific specializes in M&A transactions involving East Asia. Pickering Pacific offers tailor-made solutions at all steps of the M&A process, both on the buy-side and on the sell-side: M&A strategy: assistance in defining, adapting and preparing the implementation of M&A strategies for East Asia, Matching: identification of acquisition targets, JV partners (buy-side) and potential acquirers (sell-side) in East Asia, Execution: management of M&A transactions, including approach, valuation, due diligence coordination, structuring, negotiation and integration preparation. Over the last fourteen years, Pickering Pacific has built strong relationships with clients from all sectors by providing independent advice and achieving superior results. SOUTH EAST ASIA Singapore (HQ) Vietnam Malaysia Cambodia Indonesia Laos Thailand Myanmar GREATER CHINA Mainland China Hong Kong Macau Taiwan Philippines Brunei 2

3 On the buy-side, we advise clients at all steps of the acquisition process EXECUTION IDENTIFICATION Identifying suitable targets APPROACH Approaching the owners of the targets Successfully completing the acquisition Through our deep knowledge of East Asia, we are skilled at identifying opportunities for our clients. The best opportunities are often not publicized and require a pro-active search effort We approach many target owners in East Asia every month and convince them to consider an acquisition by our clients. Effective approaches require a very good knowledge of the region which we possess We assist our clients at all steps of the execution, including valuation, negotiations, coordination of due diligence and deal structuring, etc. We have experience in all key countries of East Asia DEAL SOURCING PROJECTS EXECUTION PROJECTS We have performed multiple deal sourcing projects in all the key countries of East Asia and across many sectors We have extensive experience of completing acquisitions in East Asia 3

4 On the sell-side, we assist clients in completing the successful sale of their business PREPARATION Preparing the business for the sale APPROACH Approaching buyers with a structured process EXECUTION Successfully completing the sale We will make sure that the target business is ready for a sale and that it is presented accurately and positively to potential buyers We are typically able to identify and contact all key potential buyers through our own resources and our worldwide network of M&A contacts We assist our clients at all steps of the execution, including the running of the sale process, negotiations, coordination of due diligence on the sell-side and deal structuring, etc. SALE PROJECTS We are skilled in running sale projects in relation to targets located in all the key countries of East Asia, including sales by founders and corporate divestments 4

5 We provide our clients with reliable M&A advice EAST ASIA FOCUS We have a deep understanding of East Asia and how this region interacts with the rest of the world SENIOR-LEVEL ATTENTION The same senior-level attention is given to all clients, without exception We focus on long-term personal relationships with our clients for which we deliver superior results STRONG CLIENT RELATIONSHIPS We develop strong, long-term and mutually profitable relationships with our clients, becoming their reliable M&A partner INDEPENDENCE We are not part of a larger group We are totally unbiased in our advice We have no structural conflicts of interests 5

6 For projects involving the rest of the world, we cooperate with our extensive network PRESENCE OF OUR COOPERATION PARTNERS TERRA ALLIANCE S TRACK RECORD transactions completed from 2013 to 2017 for a total value of USD 29bn KEY SECTORS Agriculture 34 7,725 Industrial 96 5,700 AMERICAS InterOcean (USA) Consensus Advisors (USA) ASIA PACIFIC Pickering Pacific (Southeast Asia, Greater China) Origin Capital (Australia, New Zealand, Papua New Guinea) Tata Capital (India) EUROPE Quercus (UK) Banque Hottinguer (France, Switzerland) Bankhaus Lampe (Germany) Navarre (Netherlands) Banca Sella (Italy) Banco Sabadell (Spain) Banco Finantia (Portugal) Raiffeisen Bank (Austria, Russia, Turkey, Central & Eastern Europe) MIDDLE EAST & AFRICA Schwartz (Israel) Melcofin (Africa) HC Securities & Investment (UAE) Japan USA Other cooperation relationships Many European countries Consumer Healthcare Technology , ,511 2,749 value (USDm) volume Note: 1. Our cooperation relationships are on a non-exclusive basis. 6

7 Our senior team has a significant experience of mergers & acquisitions and of East Asia Jacques Pickering Managing Director More than 20 years of experience of M&A projects on all continents M&A lawyer at Clifford Chance (Paris & London 1991 to1998) Senior M&A and financial roles at the H.J. Heinz Company (USA & Australia 2000 to 2003) Has led Pickering Pacific from Singapore since 2004 Erwan Meurzec Managing Director More than 10 years of M&A experience 7 years in a first-tier investment bank in Europe With Pickering Pacific since 2014 and having already completed several East Asian transactions at Pickering Pacific Experienced in mid-size transactions for various industries Yimin Bai Vice President Chinese national, extensive knowledge of Chinese culture and practices Masters of Applied Mathematics from Ecole Centrale Paris and from National University of Singapore 6 years of M&A experience with Pickering Pacific Jansen Gunardi Vice President Indonesian national, extensive knowledge of Southeast Asian culture and practices Bachelor of Chemical Engineering (Honours) from National University of Singapore 5 years of M&A experience with Pickering Pacific 7

8 Our associates and analysts have a strong working knowledge of the local markets Kornchawan Amornkul Associate Thai national, extensive knowledge of Southeast Asian culture and practices Bachelor of Arts (Finance) with Honours (1 st Class) from Chulalongkorn University Joined Pickering Pacific in July 2015 Lissa Ann Wong Analyst Singaporean national, extensive knowledge of Southeast Asian culture and practices Bachelor of Business Management (Honours) from Singapore Management University Joined Pickering Pacific in June 2016 Yan He Associate Singaporean national, originally from China with extensive knowledge of Chinese culture and practices Master of Engineering from Massachusetts Institute of Technology Joined Pickering Pacific in August 2016 Luke Nguyen Analyst Vietnamese national, extensive knowledge of Southeast Asian culture and practices Bachelor of Accountancy and Bachelor of Business Management from Singapore Management University (1 st Class Honours) Joined Pickering Pacific in September 2017 Junior Analysts and Office Administrator We currently have an additional team of junior analysts and an office administrator. 8

9 Our senior advisers complement our team with their extensive experiences Peter Buerger Senior Adviser Based in Singapore & Europe 37 years in international banking with Commerzbank before leaving the bank in December 2009 Was Commerzbank s Vice Chairman for Asia Spent half of his working career in Asia Jon Robinson Senior Adviser Based in Singapore More than 30 years of experience in human resources consulting and extensive knowledge of financial markets Moved to Singapore in 1997 as MD of Watson Wyatt with responsibility for Southeast Asia Led the Asia business of the Vanguard Group, one of the world s largest investment managers from 2003 to

10 Pickering Pacific has successfully handled many projects, with selected ones indicated below (1/2) TESTING, INSPECTION AND CERTIFICATION (2017) PACKAGING (2017) acquired a majority stake in has been acquired (80%) by (France) (Malaysia) (Hong Kong) (Sweden) Pickering Pacific advised Trescal in this transaction Pickering Pacific advised the seller in this transaction TECHNOLOGY (2017) AUTOMOTIVE (2017) has been acquired (90%) by has sold its stake in Tianjin Lohr Industrial to (Malaysia) (France) (China) Pickering Pacific advised the seller in this transaction Pickering Pacific advised Lohr in this transaction MANUFACTURING (2017) MARINE & OFFSHORE (2017) acquired an 80% stake in has sold its Equipment and Response business to (Germany) Pickering Pacific advised NORMA Group in this transaction (China) Pickering Pacific advised Jebsen & Jessen in this transaction (USA) COMMUNICATIONS (2016) HEALTHCARE (2016) has sold its Communications Division in 5 countries in Southeast Asia to (South Africa) acquired the Thai and Malaysian healthcare business of Pickering Pacific advised Jebsen & Jessen in this transaction Pickering Pacific advised Getz Healthcare in this transaction 10

11 Pickering Pacific has successfully handled many projects, with selected ones indicated below (2/2) FOOD MINING acquired an 85% stake in acquired a majority stake in KINTA POWDERTEC (USA) Pickering Pacific advised Johnsonville in this transaction (France) Pickering Pacific advised IMERYS in this transaction (Malaysia) PLASTICS FOOD acquired an 85% stake in CHIEN JIN PLASTICS acquired a 70% stake in the Nona business from (Germany) Pickering Pacific advised NORMA Group in this transaction (Malaysia) (Germany) Pickering Pacific advised Dr. Oetker in this transaction (Malaysia) LOGISTICS PROFESSIONAL SERVICES has been acquired by (Indonesia) Pickering Pacific advised the sellers in this transaction IDS, part of the Li & Fung Group (Hong Kong) has been acquired by Pickering Pacific advised the sellers in this transaction (then known as Accor Services) (France) PHARMACEUTICAL LOGISTICS (France) acquired marketing rights in China from (Italy) acquired assets of SEVEN SEAS (India) Pickering Pacific advised Fournier Pharma in this transaction Pickering Pacific advised OTEL in this transaction 11

12 Clients have complimented Pickering Pacific on the quality of its service The help and guidance provided by Pickering Pacific on this transaction was extremely valuable. Pickering Pacific s insights on the region, its standard practices and M&A intricacies proved to be a pivotal part of our success. Michael Stayer-Suprick President International Business Group Johnsonville Sausage LLC Pickering Pacific helped us with our development efforts in Asia. Pickering Pacific has demonstrated a strong knowledge of M&A practices in this part of the world and has been able to help us find suitable targets. I particularly appreciated the long-term approach that Pickering Pacific has taken... Director of Strategy European Multinational When we asked Pickering Pacific to help us with our development in Asia, we found consultants with an excellent knowledge of Asia and able to identify the right targets. ( ) Pickering Pacific has always put our interest first and has been able to walk the extra mile to enable us to achieve our goals. Head of Asia-Pacific European Banking Group We used Pickering Pacific to help us search, identify and transact our first acquisition in Asia. They always had the clients interest in focus and were able to advise and guide us through each step in the process. We are looking forward to their continued support in our M&A activities. Pickering Pacific is certainly very oriented to meeting the needs of the client in a way which brings true added value. Chris Warmoth Executive Vice President Heinz Asia Pacific John Stephenson President Asia-Pacific NORMA Group 12

13 Pickering Pacific Pte Ltd (RCB K) 3 Phillip Street #14-03 Royal Group Building Singapore t f e info@pickeringpacific.com For further discussions, please contact: Jacques Pickering Managing Director t e jpickering@pickeringpacific.com Erwan Meurzec Managing Director t e emeurzec@pickeringpacific.com