NAFED 2013 Fall Shareholder’s Meeting

1. NAFED 2013 Fall Shareholder’s Meeting Nov 14 Embassy Suites Downtown Convention Center Denver CO

2. Welcome • Call to Order • Request Proxy Votes • Sign-In Sheets • Review / Approve Minutes of Last Meeting

6. 2013 Vendor of the Year Please mark your ballots and pass them in toward the aisle. We will vote on the top nominees for each category after lunch. Preliminary Discussion?

7. Free NAFED Autoflyer from CFI This offer entitles each NAFED dealer to 4 free pages of an AutoFlyer*. To redeem this offer, simply log in to AutoQuotes AQ360 and build a project as you would normally do. Then click "Creative Flyer Options" from the "print/flyer" window to be brought the CFI Marketing AutoFlyer webpage. Fill out the order form and make sure to add the code NAF12014 to the "Additional Information" comments box at the end to get this offer! This is a limited time promotion good from January 1st through January 31st, 2014 - so don't miss out! *Limit 4 pages per NAFED Dealer (multiple dealer locations not included), digital PDF only. Any AutoFlyers that are more than 4 pages will incur additional charges at the standard rate of $49.96 per page. For AutoFlyers with less less than 4 pages, you have the option to order an additional AutoFlyer(s) until all 4 free pages are accounted for – from 1/1/14 through 1/31/14. If you want to have your AutoFlyer printed and shipped by CFI, accommodations can be met but press charges will apply and be additional – TBD. A PDF guide on Autoflyer creation will be posted to the NAFED website after this meeting

8. New Website • Fresh look/ better presentation of group • Easier administration for the office • Member’s Directory with dynamic map of all member locations • Vendor directory with links and logos • Better organized member’s section • More features coming soon, such as.. • Online Dealer Pictorial Directory • Dealer’s Discussion Forum • Etc.

9. New Website

10. NAFED Rebate Payments • New rebate payout schedule: • Payment 1: 36 days after end of quarter • Payment 2: 66 days after end of quarter • Do not call the office to check on specific vendor payments until the second payment has been made • Let the office know if you want your payment deferred until January.

11. NAFED Training Opportunities • Manitowoc Brands: Dec 3-6, New Port Richey, FL • Cleveland, Delfield, Frymaster, Kolpak, Lincoln, Manitowoc Ice • Standex Brands: Jan 21-23, Allen, TX • APW Wyott, Bakers Pride, Master-Bilt, Norlake, Federal - 27 attendees currently signed up • Middleby Brands: TBD, probably May or June in Dallas, TX • Star, Blodgett, Southbend, Wells, Carter Hoffmann, Jade-Anets, Pitco, Turbo Chef

12. D&B Reporting • Numerous members have expressed interest in having member payment activity reported to D&B. That would help strengthen the D&B ratings for many of our members. D&B will not publish the results, other than to simply show that you are paying timely to your suppliers (i.e. nobody will know how much you actually spend with NAFED or with any other vendors) • Any questions or objections to the office submitting this data to D&B?

13. AutoQuotes update • AQ flyer files are available for each flyer as they are produced • AQ master files are available upon request • AQ category discount list for NAFED vendors will be provided as well – stay tuned

14. Anets / Pitco / MK Q4 promo

15. Star / Wells Q4 promo

16. Proposal Review • Overview 2014 vendor programs: • 23 are ‘better’ than 2013 • 18 have minor changes from 2013 • 72 have no changes from 2013 • 3 are ‘worse’ than 2013 • 2 are simply ‘different’ than 2013 • 3 vendors will be leaving the group • 3 new vendors are joining the group

17. Proposal Review • Programs that have not yet officially arrived: • Manitowoc (all brands) • Carlisle • Libertyware • San Jamar • Scotsman/IOM • T&S • Tradeco • Vertex

18. Vendors Leaving • Doyon / NuVu • SPG • Channel

19. New Vendors • New Age: Joined the group mid-year • Crestware: Joined the group mid-year • Lagasse Sweet • H Park Seating • RATIONAL

20. Proposal review: key items • Review vendors by product category • Vendor Program point changes • Group Points projected for 2014 • Total possible Individual points available • Annualized vendor volume/ growth rate with NAFED • Rebate Enhancement: Note that the “push” amounts needed are those amounts that exceed our current projected run-rate. These amounts are ‘over and above’ what we already project to purchase

21. Blenders • Rebate Enhancement: • Blendtec: Need push (26k) to max out Group Rebates • Conair: Need push (38k) to hit next rebate level • Hamilton Beach: On pace to max out Group Rebates

22. Raised Group Volume targets, still achievable

23. Raised Group Volume targets, still achievable

24. Cooking Equip - Heavy • Rebate Enhancement: • Comstock Castle: On track to max out 2013 Group Rebate • Southbend: Need push (361K) to hit next rebate level • Vulcan: On track to max out 2013 Group Rebate

25. Raised targets, still achievable

26. Counter Equipment • Rebate Enhancement: • APW Wyott: Need push (16K) to hit next rebate level • Moffat: Already maxed out 2013 Group Rebate • Star: On track to max out 2013 Group Rebate • Wells: Need push (79K) to hit next rebate level

27. +2 Individual Volume, combined freight with Baker’s Pride at $6,000. 12X20 w3vi will now be rebatable

28. +1 Group Volume. Still working on some items with Cecilware – would like to get some stronger discounting

29. +1 Group Volume, +1 Individual Growth, Raised Group Volume targets

30. Airpots, Thermos, and Racks are now rebatable

31. Dishwashers • Rebate Enhancement: • Champion: On track to max out 2013 Group Rebates • CMA: Need push (42K) to max out 2013 Group Rebates • Jackson: On track to max out 2013 Group Rebates

32. +2 Quarterly, -2 Year End

33. Additional Discounting on Small and Conveyor units

34. Disposers • Rebate Enhancement: • InSinkErator: Need push (8K) to hit next rebate level

35. Food Machines - Heavy • Rebate Enhancement: • Conair: Need push (38k) to hit next rebate level

36. Changed discount from 30/5/5/5 to 30/5/5/10

37. Food Machines – Light • Rebate Enhancement: • Electrolux: Already maxed out 2013 Group Rebate • Nemco: Already maxed out 2013 Group Rebate • Robot Coupe: On track to Max out 2013 Group Rebate

38. Food Transport

39. Fryers • Rebate Enhancement: • Pitco: Need push (122K) to hit next rebate level

40. Improved Pitco/Magikitch’n Discount from 50 to 50/10

41. Furniture • Rebate Enhancement: • All About Furniture: On track to max out 2013 Group Rebates • Art Marble: Need push (48k) to max out 2013 Group Rebates • Old Dominion: On track to max out 2013 Group Rebates

42. New program – H Park is known for frame supported booths, table tops, trash receptacles, and condiment units. Competes with Plymold but with generally more aggressive pricing. Focused on fast food segment, schools, universities, corporate cafeterias

43. Hoods

44. Healthcare Equipment • Rebate Enhancement: • Piper: Already maxed out 2013 Group Rebate

45. Ice Machines • Rebate Enhancement: • Manitowoc Ice: Already maxed out 2013 Group Rebates • Scotsman/IOM: Need push (187K) to hit next growth rebate level • Speaking of Ice Machines – what do you think of Kool Air??

46. Material Storage

47. New Program – joined group in late 2013

48. Removed Win-Ventilation from program (divested)

49. Microwaves • Rebate Enhancement: • Amana: Need push (57K) to max out 2013 Group Rebates • Panasonic: On track to max out 2013 Group Rebates

50. Restored the 30 and 40% Group Growth targets