Feast Creative Foods introduction

1. Introduction I May 2019

2. kind of strategic investment company is a

3. We bring innovative food startups to China, the world’s biggest consumer market

4. The Food Industry is Changing For generations, consumers have been deluded by Big Food and they have started to realise that. The Fruit Loops of the world are fast loosing market share. And the past years have seen a vast number of innovative food and beverage startups offering more transparent, more individualised and more nutritious alternatives. Some industry observers already refer to the food industry as "the new internet". 

5. China is Upgrading its Consumption Patterns The rise of the middle class, the increase of products available on the market, coupled with a lack of confidence in local food supply chains have led to major changes in the grocery shopping landscape. China has quickly become the biggest marketplace for nearly all FMCG categories. Food continues to secure a lion share of the overall spending behaviour outperforming transportation, the next ranked category, by a factor of 2x. By 2020, the Chinese online grocery market is set to be worth over $ 280 billion.  Providing enough food at acceptable levels of quality and at an affordable cost is shaping up to be one of China’s most challenging issues. And sales of imported food will continue to grow at double digits. 

6. Our Mission: An Unfair Advantage Feast Creative Foods is a China-focused platform investing in emerging food and beverage brands. Our team has decades of experience in marketing, e-commerce, media and China's food industry. And we pulled our resources together to support international F&B startups in China like no other concept.  Our sole purpose and mission is giving our partner startups the backing, budgets and brainpower necessary for a successful launch in China. We are their import agents, community builders, marketing experts, brand ambassadors, distributors, networkers, sales managers, trade show representatives and their own China office. Our goals are fully aligned. We work completely transparent and we're just as excited about new food concepts as you are. 

7. Documentation Food product entering China Bringing a Food Product to China Sanitary certificate issued Inspection declaration Label compliance Registration Customs declaration Sample inspection and label auditing If you are launching a food product in China, there are many stakeholders to handle in a complex linguistic, cultural and regulatory environment. Customs clearance Tax payments Customs inspection Customs clearance

8. Our Background Founded in 2009 Annual Growth (CAGR): 81% Feast benefits from10+ years of experience in China’s food & beverage market via the operations of its founding parent ESB Group & its subsidiaries (www.esb-foods.com). >100.000 tons annual turnover Offices in Shanghai and Hefei 45+ headcount Visible market share ESB leverages Feast platform by providing key competencies in ‣ Logistics services ‣ Import & customs clearance ‣ Inventory management ‣ China sales network & experience ‣ Quality assurance Large recurring customer base 30 countries of origin 7 categories (frozen foods, snacks) Category expert (frozen) Multiple sales channels > 220 SKUs 11 port destinations in China >140 plant numbers >100 suppliers >80 customs agencies

9. 4 Paths Lead to China Importers & distributors Sales agents Rep. office or direct sales Marketing support - - - ✔ There are many different ways of launching a brand in China. Most larger F&B companies would opt for setting up an own organisation, building it brick by brick and with huge resources, both capital and time. Alignment - limited ✔ ✔ Transparency - - ✔ ✔ Smaller companies usually work with agents or distributors, but it can be a challenge finding an agent who shares the same passion for their products. Speed medium faster slow full speed Feast offers an entrepreneurial path into China. We finance the expansion in exchange for an equity stake in our partner brands. This way we have ”skin in the game” with our goals fully aligned. Overall risk low higher max. risk - For startups there’s no faster and no more efficient way of entering China. max. investment Investment medium medium entrepreneurial

10. 4 Phases of Vesting Every brand needs a different China strategy and every product will face different hurdles on the way to the hearts and shopping baskets of the Chinese consumers. I Initiation (1-3 months) We vest upon an agreed valuation. Over 4 phases, we develop and implement an individual launch strategy for each partner brand with clear KPIs and deliverables. ‣ Sign MoU ‣ Market study ‣ Focus groups and and product tastings ‣ China workshop together with brand owners ‣ Develop Chinese label ‣ Develop marketing and communication strategy ‣ First test order ‣ Sign vesting contract Brand Launch (2 months) II ‣ First regular product shipment ‣ Hire brand ambassador / sales manager ‣ Official brand launch ‣ Launch social media channels

11. Growth / Sales (6-9 months) III ‣ Activate marketing plan ‣ Grow sales network ‣ Organise brand events ‣ Formulate initial business case for evaluation and long-term cooperation … And One Common Goal IV Evaluation (1month) ‣ Demonstration of sustainable business model in the territory ‣ Sales projection after phase IV The big advantage compared to traditional distribution models is that our goals are completely aligned and the brand owners know exactly what’s happening with their product in China. The 4 phases also give us enough time to build the trust necessary for a successful cooperation.

12. The Feast Framework Feast Holdings (Singapore) Cooperation & Vesting Agreement Holds assets … And One Common Goal The Cooperation & Vesting Agreement Regulates the equity investment targeting a minority stake of 5-10% of ordinary shares by means of reverse vesting. Feast OpCo (China) Operational execution, sales, marketing, brand building Buys goods Vesting is triggered upon deliverables within the 4 distinctive phases over the initial engagement period (typically 9-18 months) with a commitment of payment-in-kind of up to US$ 500k per brand.  Brand Distribution Agreement The Distribution Agreement regulates the use of intellectual property rights and commercial terms for procurement. Ships goods

13. What We are Looking for We are looking for enthusiastic entrepreneurs with a vision and a mind-blowing product compatible with the demand in China's supermarkets, restaurants and online stores.   We seek to partner with the best-in-class food innovators and management teams to help accelerate their international growth and boost their strategic value with a meaningful presence in the world's largest consumer market.  We are looking for companies that ‣ turn the old food industry upside down ‣ are planet positive ‣ offer healthy, nutritious and sustainable products ‣ have a solid, diverse team ‣ have a clear growth strategy ‣ have existing products in the market

14. Our Target Categories and Their Market Size in China All numbers in Billion CNY Functional Food / Supplements Breakfast Cereals Snacks Baby Food Beverages 300 20 13 1100 700 9,75 225 15 825 525 150 10 6,5 550 350 3,25 75 5 275 175 0 2011 0 201020132016 0 2012 0 201020132016 0 2012 2014 2016 2014 2017 2015 2018E

15. Portfolio

16. Case Study (Pilot Case) Total Sales vs China-Exports Channel Revenues 1 % 4 % 22500 10 % monthly total units sold monthly China-Exports Ecommerce Distributor Other HoReCa Corporate Retail 16875 1 % 11250 23 % 61 % 5625 0 Mar Jun Sep DecMar Jun Sep DecMar Client Sources Regional Distribution 1 % 2 % 3 % Shanghai Jiangsu Zhejiang Xinjiang Shanxi Beijing Tianjin Shandong Guangdong Hong Kong Events & Ads Existing network Client refferal Freelance sales Social media Other One year after bringing Noveltea to China, the People’s Republic now accounts for 42 percent of the company’s global unit sales. If you are interested in the details, ask us for our Noveltea case study. 8 % 41 % 45 %

17. To be successful in China, it’s not enough to list your product on Taobao. The typical Chinese consumer requires 9 brand touch points* before making a purchase decision. That’s 4 more than in the most Western countries. For our partner brands we are … Trade show representatives China market representation Shared office space Import agents Social media managers Community builders Distributors Event promoters Brand ambassadors *McKinsey China

18. China’s Digital Customer Journey Friends & Family Inspiration Offline Inspiration Social Inspiration Research Purchase Sharing

19. Route-to-Market Partners ‣ Gourmet food and drink shop ‣ > 3 million followers ‣ Regular content offering with dedicated editors, video producers, food science experts & freelance writers ‣ 80s and 90s generation, ‣ 60 % female We have strategic partnerships with several of the largest Chinese e-commerce platforms and online retailers. Penguin Guide, our preferred launch partner, has so much social media pull, that their promotions usually even have a measurable effect in the brand’s own home market. ‣ China’s premium online store ‣ 20 million followers on WeChat and over 3 million daily video views ‣ Distributed in >50 main channels online & offline ‣ Customers mainly 70s and 80s generation, ‣ mainly male followers

20. Founders & Core Team Rachel started her long career in retail at industry giants such as P&G and Carrefour where she worked as a Purchasing Director. Janis is a former journalist and entrepreneur who has been living in Shanghai since 2002. Food is his passion.  Benedikt joined ESB in 2012. He spent years as a MD at tech startups and consulted mid- cap companies as finance specialist. Max is the founder and former CEO of Lazada, the leading e-com platform in SE Asia. In 2016, he sold the company to Alibaba. Nic is a food entrepreneur who started his China journey in 2005. His company ESB provides key services to Feast. Benedikt Stöckert Rachel Han Operations Max Bittner Angel/Advisor Nicolas Stöckert Strategy Janis Vougioukas 
 Finance CEO Tom Su Rita Zhai Logistics April Wang Sales Director Cindy Fan Elyn Gao Analyst Lana Khovracheva Event Manager Monica Fan Sales Manager Justin Jing Designer Summer Liu Administration E-com Manager Creative Director

21. Connect Shanghai Feast Creative Foods Ltd. shanghai@feast-china.com RM 204, No.664 Xinhua Road Changning District, Shanghai, 200052 PRC 上海海市⻓长宁区新华路路664号
 万宝国际商务中⼼心204室 邮编：200052 Munich Feast Germany munich@feast-china.com ℅ GFEP Family Equity Maximiliansplatz 15 80333 Munich Germany Global www.feast-china.com