Half your media is wasted. We know which half.

1. HALF YOUR DIA MEDIA Copyright All Media Count, 2012 © IS WASTED ALL MEDIA COUNT Investment Proposal 2012 1

2. Copyright All Media Count, 2012 © We know which half 2

3. IN 1 MINUTE (CLICK NUMBERS TO JUMP TO SECTION) 1 Brands waste a lot of money on advertising because of poor media data. 2 That’s a huge opportunity for us 3 because we can identify media waste better than any other company can. 4 Our cross-media analytics system is great, advertisers love it, 5 and other companies in this space have nothing like it. 6 But we aggravate the media agencies because our activity is contrary to their business model. 7 Ironically, exit is likely to be via trade sale to one of the media agency groups, Copyright All Media Count, 2012 © 8 9 triggered by raising advertisers’ expectations of them and disrupting their business. 10 To pull that off, we need to talk to a lot of advertisers, and do so quickly 11 so are seeking 300K for 10.5%, primarily for marketing, sales and client service. 3

4. Copyright All Media Count, 2012 READY? 4

5. IF COMPANIES COULD REACH MORE PEOPLE WITH THEIR ADS, THEY WOULD MAKE MORE MONEY Copyright All Media Count, 2012 © BUT THEY HAVE A PROBLEM WITH media Click here to return to contents page 5

6. They saturate too few people And fail to reach the rest with too much advertising Copyright All Media Count, 2012 © HALF of their media investment is wasted.* And we can prove it. * “Half my advertising is wasted, but I don’t know which half”. Quotation attributed to both John Wannamaker and Lord Leverhulme in the early 20 th century. 6

7. Why are advertisers so wasteful? 1 Most media are NOT WELL MEASURED in China 2 The metrics for each media type are INCOMPATIBLE – like apples and oranges Copyright All Media Count, 2012 7

8. BUT IN A MARKET WHERE… Copyright All Media Count, 2012 © BAD GOOD can be Click here to return to contents page 8

9. THIS WASTE IS OUR …AND ALSO THE ESSENCE OF OUR OPPORTUNITY… POSITIONING 2011 2014 We’re known us as “the half wasted” 55 B US$ spent on ads and media company and have converted 150 to 200 of China’s top advertisers. China’s 2,000 top advertisers By helping clients confidently re-allocate waste US$ 9 to 10 billion. more than half of their media spend, And want to MOVE their money to Copyright All Media Count, 2012 © less wasteful media our Waste Analysis and related on+offline analytics services create over US$ 150 million of value for our customers . We also have business coming from other media research, THIS is what we are targeting. smaller advertisers, agencies and media owners. 9

10. We’ve ALREADY BUILT and are SELLING a Waste Analytics solution. It is kind of C O M P L I Copyright All Media Count, 2012 C A T E D but looks really cool Click here to return to contents page 10

11. Copyright All Media Count, 2012 © 11 “Apples to oranges” 并提来拿西东的不全完件两把思意的相同是论.

12. A SHORT EXPLANATION OF WHAT WE DO: Audience data from DiFfEReNt Copyright All Media Count, 2012 © media used to be incompatible. 12

13. Because … 1 They are physically different 2 The audience experience is not the same 3 Measurement technologies for one could not be used for others Copyright All Media Count, 2012 © 4 So the data for each was incompatible Ɣ ƕ Ƃ 13

14. We fix that. We M A K E the data about these experiences compatible. And we do it across more than a D O Z E N media types Copyright All Media Count, 2012 © 14

15. Maybe an analogy will help… Data from different media are like chemical elements. They do not naturally mix. But at an A T O M I C level they can be joined together. At AMC we BREAK D O W N media behaviors to an “atomic” level Copyright All Media Count, 2012 © then RE INE COM B that data in any way a client needs. 15

16. Copyright All Media Count, 2012 © THE EFFECTS OF OUR INNOVATION ARE IMPRESSIVE BUT NOT NECESSARILY POSITIVE FOR EVERYONE INVOLVED (MORE ABOUT AGENCIES LATER). 16

17. Copyright All Media Count, 2012 © We know: 17

18. HOW MANY PEOPLE SEE AN AD CAMPAIGN Copyright All Media Count, 2012 © 18

19. Copyright All Media Count, 2012 © HOW MANY TIMES THEY SEE IT 19

20. Copyright All Media Count, 2012 © AND WHERE THEY SEE IT 20

21. Therefore we also know: 1 HOW MUCH the client is over-spending Copyright All Media Count, 2012 © 2 WHICH media are least and most wasteful 3 THE sites, programs, publications that are helping or hindering Reach and Impact (we name names) 21

22. Interested in a REAL EXAMPLE of what clients actually GET from this? Copyright All Media Count, 2012 Click here to return to contents page 22

23. WASTE ANALYTICS FOR Copyright All Media Count, 2012 © An AB-Inbev brand 23

24. SUMMER 2011 CHENGDU TV Online Newspaper Outdoor Bus LCD 7 TYPES OF MEDIA USED Bus shelter Radio SPENT ABOUT 20,000,000 RMB (US$3 million) Copyright All Media Count, 2012 © More than 95% of beer THE CAMPAIGN drinkers saw it SATURATED THE CITY The average beer drinker saw it more than 100 times 24

25. Percentage who have seen the campaign at least 10 times The client was able to SEE MEDIA WASTE for the first time. Accumulated Reach and Spending (across all media types) This flat part is waste good. It shows the client’s money is building more audience Copyright All Media Count, 2012 © Cumulative cost (000 Rmb) MORE EXPLANATION ABOUT THE CHART Each dot on the curve is a media vehicle – a website, a newspaper, a TV program etc. In this chart, all media for the campaign are shown. Each vehicle has a price, so when one is added to the campaign, it increases the cost, shown on the horizontal axis. And by adding more vehicles, the campaign may be seen by more people, shown by the vertical axis. But once the ad is already being broadcast in several places, it gets harder and harder to reach fresh audience, so the audience increase for each new vehicle reduces. After a while it’s impossible to get any new audience because we’re close to saturation; almost everyone has already seen the campaign. The dots are ordered according to best value-for-money: the ones which have a large audience compared to their price are shown on the left. Dots on a flat part of the curve are waste. 25

26. Copyright All Media Count, 2012 © ? SO WHAT 26

27. They could have got the same result for 12,000,000 With AMC’s data. THEY DID NOT NEED TO SPEND 20,000,000 RMB And spend the other 8,000,000 where it will work better Copyright All Media Count, 2012 © We also tell clients lots of other stuff about what sites and networks and programs they should use and audience figures and CPM and ROI and blah blah but it all pretty much revolves around identifying media waste. 27

28. WE CHARGE 175,000 Rmb (US$27,000) FOR WASTE ANALYTICS FOR ONE CAMPAIGN IN ONE CITY Copyright All Media Count, 2012 ©  AB-INBEV HAS SINCE BOUGHT OUR DATA IN SHANGHAI FOR A YEAR @800,000 RMB (US$123,000) 28

29. We can do this for any ad campaign in any city any Copyright All Media Count, 2012 © across mix of media. 29

30. WE ARE THE ONLY COMPANY THAT CAN DO THIS STUFF Copyright All Media Count, 2012 © 30

31. EVEN THE MEDIA AGENCIES CAN’T DO IT Copyright All Media Count, 2012 © So they don’t like us [IF YOU’RE GETTING IMPATIENT, CLICK HERE TO FIND OUT WHY] 31

32. YOU MAY BE WONDERING : Is that it? NOT QUITE. Copyright All Media Count, 2012 THE INNOVATIONS THAT ENABLE US TO IDENTIFY MEDIA WASTE YIELD TYPES OF PRODUCTS & SERVICES. 5 32

33. [UGLY DIAGRAM ON NEXT SLIDE] Click here to skip it Copyright All Media Count, 2012 © 33

34. SITE INSPECTIONS 1. 2. AUDIENCE WASTE PUBLISHED STATS ANALYTICS CONSUMER STUDIES OBSERVATION MEDIA CLIENT’S EQUALIZING MEDIA FACTORS PLAN ONLINE MEDIA BEHAVIOUR (PLUG-IN) DAILY MEDIA- PROPRIETARY PROPRIETARY SIMULATION INDIVIDUAL SIMULATION NEUTRAL DATA PLANNING 1 MEDIA 2 TRAFFIC COLLECTION SOFTWARE DATA DATA SYSTEM OFFLINE MEDIA BEHAVIOUR (SURVEY) RATE CARD & Copyright All Media Count, 2012 © CLIENT’S DISCOUNT INFO 5. 4. 3. CUSTOMIZED AD & BRAND CAMPAIGN RESEARCH TRACKING PLANNING 34

35. Looks like a lot. Not just media waste. So why do we keep going on about media waste ? Copyright All Media Count, 2012 © Click here to return to contents page 35

36. Because it’s sexy and helps us look unique Copyright All Media Count, 2012 © AMC 36

37. THE TROUBLE IS, ALL MEDIA RESEARCH COMPANIES SAY THEY’RE UNIQUE. Don’t (Awareness x Reputation) they? BRAND STRENGTH Copyright All Media Count, 2012 AMC China’s media research & data market = 1.4 B Rmb (US$215 million). NUMBER OF MEDIA TYPES THAT CAN BE INTEGRATED 37

38. Copyright All Media Count, 2012 © { ? So what do we mean by unique } 38

39. Copyright All Media Count, 2012 Click HERE for a more legible version 39

40. We built the tools to solve this problem because they didn’t exist before my炒媒体 (“My Fried Media” our data collection software ) WITH FULL CONTROL OVER THE CODE WE CAN DELIVER FASTER, CHEAPER AND MAKE IT DO PRETTY MUCH WHATEVER WE WANT WITH MINIMAL RISK OF DATA LEAKAGE OR THEFT data simulation algorithms USING A DETAILED MEDIA HABITS PROFILE FOR EACH RESPONDENT, WE ACCURATELY SIMULATE THEIR DAILY MEDIA USAGE ACROSS THOUSANDS OF MEDIA CONTACT POINTS. e.p.g. crawler A WEB ROBOT WHICH VISITS EVERY TV STATION’S WEBSITE, READS THEIR DAILY PROGRAMMING INFORMATION AND CONSTRUCTS A UNIFIED ELECTRONIC PROGRAM GUIDE. My炒媒体 online activity recorder WE CAPTURE SITES THAT A PERSON VISITS, HOW OFTEN AND HOW LONG THEY STAY. BECAUSE IT’S FROM THE SAME RESPONDENTS, OUR ONLINE DATA IS FULLY COMPATIBLE WITH TV DATA. Copyright All Media Count, 2012 applbox (our cross media planning software) DEFINE YOUR TARGET, SET CAMPAIGN SCOPE, CHOOSE YOUR FORMATS. APPLBOX HELPS YOU EVALUATE AND OPTIMIZE MORE THAN 15,000 MEDIA VEHICLES ACROSS 13 MEDIA TYPES AND KNOW – INSTANTLY – THE CROSS MEDIA REACH FOR ANY CAMPAIGN CONFIGURATION. lots of other things DATABASES OF MEDIA SPECS, OWNERS, PRICES. HOURS AND HOURS OF VIDEO FOOTAGE. THOUSANDS OF PHOTOS OF BILLBOARDS, BUS-RIDERS, Applbox user interface SHOPPERS, SUBWAY RIDERS – PEOPLE USING ALL KINDS OF MEDIA. 41

41. AND WE HAVE A UNIFYING PHILOSOPHY OF HOW ALL THIS MEDIA STUFF FITS TOGETHER Copyright All Media Count, 2012 42

42. What makes us unique is that we have a SUPERIOR PRODUCT Copyright All Media Count, 2012 © Which is why a former senior planner at Carat recently said… 43

43. “THERE’S NOTHING THAT EVEN COMES CLOSE TO AMC’S SYSTEM AT ANY OF THE AGENCIES. IT SHOULD BE ON ALL THEIR DESKTOPS.” Copyright All Media Count, 2012 Click here to return to contents page 44

44. Copyright All Media Count, 2012 © why Then 45 isn’t it?

45. Because: 1 Silos MEDIA AGENCIES ARE NOT STRUCTURED TO WORK ACROSS MEDIA (UNLIKE US) TV ONLINE OUTDOOR PRINT DEPARTMENT DEPARTMENT DEPARTMENT DEPARTMENT Copyright All Media Count, 2012 © Click here to return to contents page 46

46. 2 Resistance to OUR MEDIA-NEUTRAL DATA FACILITATES A SHIFT WHICH ADVERTISERS WANT BUT WHICH AGENCIES ARE NOT Trends GEARED FOR. Copyright All Media Count, 2012 © 47

47. 3 THE MORE AGENCIES SPEND (WASTED OR NOT) THE MORE THEY MAKE. Non-aligned interests A BONUS PAID BY CLIENT TO AGENCY IF A CAMPAIGN ATTAINS IT’S TARGETS FOR COMMUNICATION AND POSSIBLY SALES TYPICALLY 2% TO 5% OF ALL MONEY SPENT IN MEDIA, WHETHER WASTED OR NOT. Copyright All Media Count, 2012 © VARIES GREATLY (UP TO 10% IS COMMON). PAID BY THE MEDIA VENDOR TO THE AGENCY OR MEDIA BUYER. USUALLY THIS IS UNDECLARED AND NOT REFUNDED TO CLIENTS. 48

48. SO GENERALLY, IF THE CLIENT SPENDS LESS THE AGENCY Copyright All Media Count, 2012 MAKES LESS 49

49. AND WHERE WE ARE GOING WHERE WE ARE NOW WHICH Copyright All Media Count, 2012 GOES SOME WAY TO EXPLAINING WHERE WE’VE BEEN 50

50. Copyright All Media Count, 2012 © * Multinational consumer products company has requested anonymity concerning this trial 51

51. Copyright All Media Count, 2012 © 52

52. but we have to be nice to them because one of those lucky agencies Copyright All Media Count, 2012 © is likely to be… Click here to return to contents page 53

53. Copyright All Media Count, 2012 54 Mr. Right

54. Yes, that’s our most likely exit strategy: Copyright All Media Count, 2012 © Acquisition by a media agency group 55

55. [Failing that, by a market research company or group. We’re telling the agency story because it’s more likely.] Complete or partial acquisition of comparable businesses Deals in Media/Marketing Services in China 2009-2011 Media agency Other Research WPP Group group Companies Research agency Ipsos Other Media groups Other acquirers Copyright All Media Count, 2012 © Mostly by Ipsos Mostly by WPP They pay 5-6 times earnings Most of these deals: 80-120 staff, (more for AdMaster, it is said) US$3-5 million revenue 10%-20% profit is normal 56

56. THE PROBLEM RIGHT NOW WITH THIS EXIT STRATEGY IS… Copyright All Media Count, 2012 © 57

57. THE AGENCIES USUALLY ignore US. Copyright All Media Count, 2012 © [OUR DATA MAKES THEM LOOK BAD AND WE DISRUPT THEIR BUSINESS MODEL] 58

59. 1 Positioning AMC in the minds of advertisers as an impartial and uniquely trustworthy judge of agency performance. 2 Giving advertisers the expectation they should demand more from their agency. Copyright All Media Count, 2012 © 3 Showing advertisers how much their agency wastes and that AMC knows spend the money how to better Click here to return to contents page 60

64. Of course, we are optimistic. But the timing of an inflection point, especially if it pivots on a few clients, is Copyright All Media Count, 2012 © So, in parallel, we push towards a tipping point 65

65. But unless we get investment, our current won’t get us to a tipping point very soon PIPELINE (mid range) Where we Without With are now investment investment Client Stage Q1 2012 EOY 2012 EOY 2012 Have talked, met. Interest uncertain 13 17 107 Multiple meetings. Proposal likely 7 16 185 Proposal issued 3 8 178 Copyright All Media Count, 2012 © Contracted, completed or W.I.P 1 3 54 Anticipated Revenue (US$) $218,000 $1,214,000 Notes: Now working with AB-Inbev and in discussions with Coke, Adidas, AdChina, Posterscope, Millward Brown We are also in a full-scale trial with another major advertiser that has requested anonymity In the “with investment” scenario: 1) Average deal value is ~US$50,000 2) Hire four sales people 3) Approx. US$285,000 spend on Sales & Marketing in 2012 66

66. So we need to talk to ADVERTISERS Of which there are THOUSANDS Copyright All Media Count, 2012 And we need to get our message to them AGAIN and AGAIN and AGAIN Click here to return to contents page 67

67. In other words, our brand needs to be much Copyright All Media Count, 2012 68

68. Not just because it means more customers. It’s also because we RE -USE our media data and have lower production costs. So our profitability and… Average data collection cost per project (000 US$) 12 10 8 6 Copyright All Media Count, 2012 4 2 Number of projects and YEAR 0 01 100 200 300 400 500 600 2011 2012 2013 2014 69

69. But that still leaves us with a Copyright All Media Count, 2012 problem. How hard can that be to solve? 70

70. Copyright All Media Count, 2012 71

71. SO MUCH TO DO, SO LITTLE TIME. WE NEED HELP WHICH BRINGS US TO INVESTMENT Copyright All Media Count, 2012 72

72. For this ANGEL round, we are seeking US$ 300,000 or HKD equivalent in exchange for 10.5 % Copyright All Media Count, 2012 post money Click here to return to contents page 73

73. WHY 1. Major R&D is finished • • • Proprietary data collection process Proprietary data collection software Proprietary media planning software 2. Proven market need WHY 3. Acceptable price point 4. Product is being sold to or in trial with leading advertisers 5. Higher profit than industry average WHY Copyright All Media Count, 2012 6. Transformational, not incremental, to acquirer’s business 7. Only modestly above our 2008 seed valuation of US$1.58M a US$2.86m valuation? 74

74. AS A GENERAL INDICATION OF how we’ll use the money EACH FULL BUNDLE BELOW IS 10% OF THE TOTAL SOUGHT Copyright All Media Count, 2012 SALARIES SALES & DATA ADMIN & R&D MARKETING CAPEX 75

75. WHAT WE WILL SELL REVENUE (M US$) WHO WE WILL SELL TO 24 in 2014 8.5 Copyright All Media Count, 2012 in 2013 3% 5% Waste Adv-Large 16% 26% Tracking 1.2 Adv-Med in 2012 Planning Adv-Small 50% Agencies Custom 0.05 in 2011 Owners Aud.Stats 76

76. MID-RANGE P&L (USD 000's) 31-Dec-11 31-Dec-12 31-Dec-13 31-Dec-14 Total Sales Revenue 54 100% 1,214 100% 8,461 100% 23,840 100% Business Tax (3) -6% (58) -5% (403) -5% (1,135) -5% Total Cost of Sales(10) -18% (173) -14% (869) -10% (1,613) -7% Gross Profit 41 76% 983 81% 7,189 85% 21,092 88% Total Sales and Marketing Expenses(285) (18) -34% -23% (1,187) -14% (2,094) -9% Total Research and (5) -10% Expenses -6% Development (77) (213) -3% (233) -1% Total General and(103) -190% Expenses -43% Adminstrative (527) (1,939) -23% (2,786) -12% Total Operating (127) -233% Expenses (889) -73% (3,338) -39% (5,113) -21% Copyright All Media Count, 2012 Income from Operations -157% (85) 94 8% 3,851 46% 15,979 67% Income Tax - 0% (24) -2% (963) -11% (3,995) -17% Net Profit (85) -157% 71 6% 2,888 34% 11,984 50% 77

77. [We can send more numbers if you’re interested] Copyright All Media Count, 2012 78

78. We can’t guarantee that YOU’LL GET REALLY RICH because this, like all investment, involves risk. …you get something like BUT… IF our revenue is US$20 million at end of 2014 and IF we’re at 45% profitability US$1.89 MILLION and IF we do a trade sale at 6x earnings and IF you buy 3.5% of AMC for US$100,000 in this round and IF there’s no further dilution… Copyright All Media Count, 2012 YES, THOSE ARE BIG IFS, BUT YOU WOULDN’T BE AN ANGEL IF YOU DIDN’T HAVE THE STOMACH FOR IT, RIGHT? 79

79. For this round, we’ll issuenew shares in our parent company, AMC HK Ltd, at a price of HK$181.50 each. Our ownership structure will change from: this to something like THIS Pre-Offer Post-Offer Shares Percent Shares Percent Mike Underhill 59,190 53.8% 59,190 48.2% Other Founders 11,310 10.3% 11,310 9.2% Seed investors 17,881 16.3% 17,881 14.5% Employee Stock Options 8,325 7.6% 8,325 6.8% Copyright All Media Count, 2012 Option Pool (counted as issued) 13,294 12.1% 13,294 10.8% New shares pursuant to this Offer ~ ~ 12,893 10.5% Total issued 110,000 100.0% 122,893 100.0% [Un-issued shares] 890,000 ~ 877,107 ~ 80

80. ONCE THAT’S DONE, WE’LL GET ON WITH… Copyright All Media Count, 2012 81

81. Copyright All Media Count, 2012 AGGRAVATING MEDIA AGENCIES AND DELIGHTING ADVERTISERS 82

82. We are Mike Underhill. Founder & CEO 16 years in China researching advertising, media and brands. Founded AMC in 2007. Formerly GM China for advertising and media research agency Ipsos-ASI. Also TNS, Research International. BA. – Psychology, BCA. – Marketing Black Huang. IT Development Nine years IT development experience. Formerly qunar.com, Asiacom, Ezcross. Architect of AMC’s cross-media planning system. Two years working with AMC. Copyright All Media Count, 2012 BSc. – Mechanical Engineering. Hongsheng Xu. Data Processing Six years media panel data management experience. Formerly with CTR home panels. Three years with AMC BSc. – Information Systems 83

83. Email mike.underhill@allmediacount.com or call +86 138105 90017 for investment information or to… see a real case study in which a client saves millions take our revolutionary planning software for a spin Copyright All Media Count, 2012 experience our media survey – where most of AMC’s source data comes from 84

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