1. EPINIONA MARKET RESEARCH AGENCYWITH A DIGITAL EDGE COMPANY CREDENTIALS

2. The focus of Epinion is to deliver breakthrough market research solutions in order to address and track critical business issues. Based on our findings, we help shape the foundation for our clients’ future growth. We understand that it is not just about how good the ideas behind the solutions are, but also the effectiveness of creating and delivering results to our clients. By that view, Epinion has developed a strong core business framework and product portfolio, which rely on our digital capabilities to create long-lasting impact as well as satisfy the needs for speed and flexibility. Your business context is changing and so are the issues and challenges arising. In order for you to engage with your consumers and stakeholders, now and in the future, you need a research partner that can show you the way. We are looking forward to working with you! EPINION Introduction 2 Engage more effectively with your future consumers

3. Epinion at a glance The people YEARLY INTERVIEWS CONDUCTED NO. OF ISSUED REPORTS /YEAR CORE SKILLS AND EXPERTISE LEADERSHIP EDUCATION BACKGROUND Mogens S Jakobsen Søren H Justesen Thomas Y Andersen Terje Vammen Aske NB Østergård Thue Q Thomasen >1,800 >2,000,000 IT Ph.D. Business Advisory MA/MSc/MBA QUESTIONS ANSWERED /YEAR REVENUE (USD Mil.) Statistics/Maths BA/BSc 15.0 2010 >1,400 40.0 2014 (target) The company INDUSTRY EXPERTISE MEMBERS OF ONLINE PANEL DENMARK VIETNAM Infant and Children’s Nutrition Banking and Insurance Beer and Softdrink Packaged Goods Human Resource Management Media And Entertainment Retail Transport and Infrastructure Mobile and Telecom Travel and Leisure Investment Education and Research 2000 2008 Year of Establishment Copenhagen Ho Chi Minh City Offices Aarhus 80 35 Consultants Associations & Accreditations MEMBERSHIPS CERTIFICATION Introduction 3

4. Introduction 4 We create impact based on a strong research framework On the following pages you can explore our work from data collection to client action > REPORTING SOLUTIONS CREATING BUSINESS IMPACT DATA MANAGEMENT DATA COLLECTION ONLINE PANEL CALL CENTER FOCUS GROUPS FACE TO FACE We are the only Microsoft Certified Gold Partner in Business Intelligence in Vietnam and have the competency to handle big data. Our solutions focus giving your team actionable recommendations without delay. Our team of consultants uses both their international and local experience to make sure data converts to impact for your company.

5. Data Collection 5 Online panel We offer the largest professional online panel in Vietnam Panelists Background Geographic Distribution Our online panel is a professionally managed database of consumers in Vietnam. Each member has given their background information and is willing to be invited for online surveys. A survey is set up and monitored in our online survey system and a link is sent by e-mail to selected panel members. 90,000 Current active panel members 600 Daily recruitment rate GENERAL INFORMATION Male 25-30% Response rate Ha Noi. 15% Female >55 15-24 25-34 35-44 45-54 <15 GENDER DISTRIBUTION PANELIST BY AGE Da Nang. 2% Example of an online survey Ho Chi Minh City. 45% BACKGROUND VARIABLES Gender Current Occupation Ages Employment Status Education Children Status Household & Family Size Country Income Can Tho. 2% Provinces with panel members Unreached provinces

6. Data Collection 6 Call center Our call center in HCMC offers interviews in a controlled environment Technical Specifications Our office in Ho Chi Minh City operates a modern call-center for conducting Computer Assisted Telephone Interviews (CATI). Our response rate in Vietnam is usually at 95% and our professional call staff is perfectly suitable for Business to Business interviews and other difficult target groups. 15 CATI stations 30 Interviewers (Full & Part-time) Computer Assisted Hardware TricTrac Survey Tool Software Epinion ProductionDashboard Quality measurement system Call staff under operation. The interview begins with background information for screening the target profile. 1 3 Epinion Production Dashboard Epinion’s production dashboard. We have developed our management tool to precisely adjust performance, quality and productivity. 2 The call center overview, working environment and call interviewers. 3 4 Another angle of our call center. 4 A call staff is conducting interview from Epinion’s system, which stores target sample and questionnaires. 5 1 2 5

7. Data Collection 7 Focus groups and face to face interviews The right conditions for in-depth insights FOCUS GROUP DISCUSSIONS Epinion employs some of Vietnam’s most experienced qualitative researchers and moderators. Our focus groups are most often conducted as an exploratory phase prior to a quantitative survey. IN-DEPTH INTERVIEWS Epinon’s researchers are experienced in generating data from in-depth interviews. We will suggest the right team based on industry experience and target group. FACE-TO-FACE INTERVIEWS Epinion can also apply face-to-face interviews. These interviews are suggested when respondents are difficult to reach with online interviews. Face-to-face interviews can also be relevant when intercepting customers at point of purchase. We apply Computer Assisted Personal Interviews (CAPI) instead of traditional paper and pen interviews. Our interviewers apply our survey tool on their smart-phones to ensure correct input and routing in the questionnaire. The data is sent by 3G technology to our database immediately. This is an effective tool in quality assurance and time saving. General Information 1 Focus group large room 3 Group discussion rooms

8. Solutions 8 Utilize the strong research framework with Epinion’s solutions Our solutions are developed from the principles of providing fast reliable dataandactionable recommendations to all relevant stakeholdersin your organization. RETAIL FEEDBACK Receive feedback on four parameters and benchmark your trade activities towards the competition. USER REPORT Get precise background data on your website user and get the tools to improve usability. CUSTOMER VALUE MANAGEMENT Optimize your product’s custom-er value and increase sales with this advanced analytical tool. BRAND*EQUITY TRACKING Adapt faster to market changes with continuos brand equity tracking. Data is instantly avail-able through online dashboards. MARKET INTELLIGENCE Get an overview of your most important market KPIs. Epinion designs and implements online dashboards and scorecards. ADVERTISING TESTING Receive fast response before and after your campaign, by using the power of Epinion’s online panel. EMPLOYEE SATISFACTION SURVEY Develop and retain your staff with yearly satisfaction surveys from Epinion.

9. Our team brings commercial experience, technical insights and new thinking THUE QUIST THOMASEN Regional Manager BSc in Int. Business and Politics. Leader in business development in the HCMC office. Four years experience from South East Asia. A strategic thinker, that creates impact on projects by reframing questions, challenging existing thinking and guiding the team to understand the business context. ASKE ØSTERGÅRD Regional Manager BSc in Math and Economics. Leader in statistics and IT development in Epinion. An invaluable expert on Discrete Choice Models, Random Utility Theory, Conjoint analysis, Customer segmentation, Data Mining, Sampling strategies, forecasting, and behaviour analysis. Experience from working with leading financial companies. NGUYEN TUANANH Qualitative leader BA in EnglishLeader in qualitative research in the Saigon Office. More than 10 years experience from the market research industry in Vietnam. Experience especially from working with large food and beverage clients. Experienced in U&A, market segmentation and brand positioning. HUYNH BA DUY Senior Manager BA in Information Technology. MBA from CFVG The founder of online research in Vietnam. Experienced in handling large complex international research projects. Experienced project manager for large private and public organizations in Vietnam and abroad. TRAN LIEN PHUONG “SKINNY” Research Director BA in Foreign Trade & Economics. Guru in the Vietnamese research industry with +16 years experiences in leading agencies eg. TNS, Ogilvy & Mather. A honorary lecturer of The HCMC University of Economics, Vietnam MarCom and the Inter-national Advertising Association. An opinion leader on branding and com-munication in Vietnam. HUYNH HUU TINH Senior Consultant B.Eng. in Telecommunications and Electronics and Advanced Diploma in Software Engineering. Leader in Business Intelligence in Epinion. More than eight years of experience from Samsung, IBM and United Pharma. Impact 9

10. Cases and references Working closely with our clients, we aim at delivering breakthrough solutions and changes for better business results and long-terms impacts. Read our impact stories to see how we manage to create values for our clients. 10

11. Impact 11 Clients serviced from the office in Ho Chi Minh City I am delighted with the deliverable as it gives us a comprehensive analysis regarding our distribution performance. I have no hesitation in recommending the services of Epinion Vietnam, and we will certainly be calling on them again as the need arises. CLAUS PEDERSEN Chief Representative Arla Foods Vietnam

12. Impact 12 Customer Value Management Impact Story: Saxo Bank Saxo Bank is one of the global leading investment banks specializing in online trading and investment across international financial markets. With clients worldwide, Saxo Bank is recognized as excellence in service and technology. The online research method is an appropriate choice to reduce the cost with surveys in many locations. Two main methods are used to process data: Multiple regressions. Net Promoter Score (NPS): Percentage of detractors subtracted from the percentage of Promoters. On the recommend question a detractor scores 1-6, a passively satisfied scores 7-8 and a promoter 9-10. THE APPROACH Saxo Bank Headquarters in Copenhagen, Denmark ADDRESSING THE ISSUES Epinion conducted an online survey with 817.633 participants, including 9 regions via 14 languages. The two types of respondents are: Client (SaxoBank customer) and Lead (Competitor customer has visited the SaxoBank homepage and given email). The questionnaire is mainly focused on five dimensions which are extracted from the CVM model: product, service, trading platform, reputation and price. Each question was given a scale of 1 to 10 for a detailed evaluation. Saxo Bank enquired Epinion to implement a customer value added survey which was based on the main concept “Customer Value Management” (CVM). The concept should be seen not just about customer satisfaction but further about customer perception of value. The survey would continually add significant new action oriented insights for Saxo Bank. SaxoBank provided a list of respondents to answer via web interface. THE RESULTS Compared performance of Saxo Bank with competitors in terms of perceived quality and price to: Identify the relative strength and weakness of SaxoBank. Identify the current position of Saxo Bank in the market. Indicate customer overall satisfaction towards Saxo Bank’s service performance in different customer-segments or different countries within the same region. Point out which dimension to be improved and how to make it efficient.

13. Impact 13 Customized Research Impact Story: Dragon Capital Dragon Capital, one of the veterans in Vietnam private equity market decided to make new move into alternative energy business with its partner Green Energy Vietnam. This is an unprecedented attempt to create a whole new industry. ADDRESSING THE ISSUES With an innovative vision for Vietnam’s future sustainable energy production, Green Energy Vietnam and Dragon Capital engaged on a journey to develop locally produced biofuels. To examine the market potential and competitive environment, Epinion was requested to unveil the reality. What is the potential for Pure Plant Oil (PPO) and Biomass fuel in Vietnam?” Getting started by this interesting yet challenging question, the team set the direction of the research and furthermore elaborated the issues of identifying industrial demands for PPO as a fossil fuel alternative and Biomass fuel as a wood/coal replacement domestically. Will Jatropha be a daily alternative for fossil energy in Vietnam? THE APPROACH During the study, Epinion completed more than 500 telephone interviews with potential users in six provinces of Vietnam. The process of gaining trust and achieving a high success-rate was accomplished by using a team of persuasive interviewers and building relationships with interviewees. By top-down methodology Epinion’s consultants established the three logical sub-questions: What is the current market demand? How best to distribute the products? How is the market acceptance of these new products? THE RESULTS The final result became an important element of the commercial due diligence of the Green Energy project and the knowledge was used in the Investment Memorandum as an objective third party assessment of the market potential.

14. Impact 14 Retail Feedback Impact Story: Arla Foods Arla Foods, a Nordic Corporation, is one of the leading suppliers of powdered milk products throughout Europe. The company first introduced its Milex brand to Vietnam during 2007 after its expansion into China previously proved a success. THE APPROACH To give a comprehensive analysis of the distribution chain, Epinion conducted an extensive telephone-based survey with the participation of 74 Milex retailers situated in Hanoi. The questionnaire was customized and focused on the five important factors directly impacting a retailer’s satisfaction. promotional campaigns, payment policies, sales team performance, sales revenue and overall distribution efficiency. Each question was given a scale of 1 to 5 for a detailed evaluation. Epinion’s call center staff spent approximately 20 minutes with each interview respondent and all answers were recorded directly into a data collection system. This research method not only minimizes quality risk, but also is cost saving. Information keyed into this system is kept confidential. Together with various statistical applications, a frequency, mean and cross-tab method were used to process the collected data. Clearing road blocks for the growth ADDRESSING THE ISSUES THE RESULTS It is an essential element of all business enterprises to monitor and evaluate the effectiveness of its supply chain. In order to operate viably within the Vietnamese Market, Arla Foods changed its distribution partner. ArlaFoods requested a report from Epinion to determine the satisfaction of their retailers in regards to this change. The Final Report by Epinion for Arla Foods resulted in: An Evaluation of Overall Retailer Satisfaction in relation to the Distribution Agent MESA. Recommendations on the importance of varying promotional techniques along with improving sales team performance to increase future demand and develop strategic marketing approaches A conclusive statement regarding Milex’s market share and brand equity in Hanoi thus far.