Sawaya Segalas & Co., LLC Preliminary Introductory Materials February 2011 February 2011 Sawaya Segalas & Co., LLC Preliminary Introductory Materials 154-153-153 110-154-191 255-206-139 44-78-106 IRI Analysis (Data For L-52 ending January 26, 2014) January 2014

Bottled Water Category Retail Dollar Sales Strictly Confidential Bottled Water Category Retail Dollar Sales Still Bottled Water Category Retail Dollar Sales (% Growth) Sparkling Bottled Water Category Retail Dollar Sales (% Growth) Premium(1) Bottled Water Segment Retail Dollar Sales (% Growth) 2.8% 2.6% 1.0% (1.1%) 23.9% 24.8% 30.5% 31.6% 14.6% 13.1% 11.7% 10.8% Dollar values in millions % Growth vs. year ago period (1) Premium brands include Acqua Panna, Evian, Fiji, Penta, Perrier, San Benedetto, San Pellegrino, Saratoga Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Bottled Water Category Retail Volume Sales Strictly Confidential Bottled Water Category Retail Volume Sales Still Bottled Water Category Retail Volume Sales (% Growth) Sparkling Bottled Water Category Retail Volume Sales (% Growth) Premium(1) Bottled Water Segment Retail Volume Sales (% Growth) 0.7% 12.7% 10.8% 8.5% 5.2% 16.6% 17.0% 20.7% 20.4% 14.9% 13.1% 10.8% 10.0% Values in millions of units % Growth vs. year ago period (1) Premium brands include Acqua Panna, Evian, Fiji, Penta, Perrier, San Benedetto, San Pellegrino, Saratoga Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Retail Dollar Sales of Selected Premium Bottled Water Brands Strictly Confidential Retail Dollar Sales of Selected Premium Bottled Water Brands Premium Bottled Water Brands Retail Dollar Sales (% Growth vs. YAG Period) (15.3%) (6.6%) 57.4% 8.0% 8.6% 20.7% 15.4% (31.8%) (5.3%) 53.2% 7.7% 9.4% 17.1% 13.2% (21.6%) (2.6%) 52.7% 3.0% 6.4% 17.4% 13.4% (20.9%) 3.9% 47.3% 1.3% 3.0% 17.6% 15.0% Dollar values in millions Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Retail Volume Sales of Selected Premium Bottled Water Brands Strictly Confidential Retail Volume Sales of Selected Premium Bottled Water Brands Premium Bottled Water Brands Retail Volume Sales (% Growth vs. YAG Period) (7.9%) (3.0%) 56.4% 8.3% 8.4% 22.9% 16.5% (28.1%) (1.5%) 49.8% 7.1% 9.8% 17.6% 14.1% (13.6%) (0.6%) 48.9% 1.7% 6.4% 16.9% 13.6% (13.2%) 3.2% 41.6% 3.2% 2.1% 17.0% 14.7% Values in millions of units One unit of volume represents 128 fl. oz. Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss Retail Dollar Sales by Region Strictly Confidential Voss Retail Dollar Sales by Region Voss L-52 Weeks Retail Dollar Sales by Region (% Growth vs. YAG Period) 89.1% 53.5% 72.5% 80.7% 70.2% 48.4% 39.0% 16.6% Volume: 35.5 102.0 105.7 113.3 134.9 126.7 188.9 217.2 Dollar values in thousands Volume unit values in thousands One unit of volume represents 128 fl. oz. Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss Retail Dollar Sales by Region Strictly Confidential Voss Retail Dollar Sales by Region Voss L-12 Weeks Retail Dollar Sales by Region (% Growth vs. YAG Period) 85.1% 44.2% 46.6% 104.1% 49.1% 137.5% 50.2% (5.9%) Volume: 8.8 23.9 24.2 29.5 28.4 32.8 42.9 44.3 Dollar values in thousands Volume unit values in thousands One unit of volume represents 128 fl. oz. Source: IRI Multi-Outlet Channel latest 12 weeks ending January 26, 2014

Voss ACV by Region Strictly Confidential L-4 January 26,2013 (Latest 4 Weeks Year Ago) L-4 December 29,2013 (Latest 4 Weeks Month Ago) L-4 January 26, 2014 (Latest 4 Weeks) Total Voss: 22.9% Total Voss: 38.9% Total Voss: 40.0% Source: IRI Multi-Outlet Channel latest 4 weeks ending January 26, 2014 and 4 weeks ago

Voss Retail Dollar Sales by SKU Strictly Confidential Voss Retail Dollar Sales by SKU Dollar Sales of Voss by SKU (% Growth vs. YAG Period) Dollar values in thousands Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss Retail Volume Sales by SKU Strictly Confidential Voss Retail Volume Sales by SKU Volume Sales of Voss by SKU (% Growth vs. YAG Period) Values in thousands of units One unit of volume represents 128 fl. oz. Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss SKUs Versus Competitors SKUs Strictly Confidential Voss SKUs Versus Competitors SKUs L-12 Competitor SKU Comparison Dollar Values in Thousands, Volume Values in thousands of units One unit of volume represents 128 fl. oz. Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Rolling LTM POS Sales and Unit Volume Since December 2011 Strictly Confidential Rolling LTM POS Sales and Unit Volume Since December 2011 Dollar Sales(1) Volume Sales Dollar values in millions Values in thousands of units One unit of volume represents 128 fl. oz. (1) August, 2012 and beyond reflects expanded coverage by Symphony IRI Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss Competitor Summary Strictly Confidential Voss Competitor Summary Dollar Sales of Voss Competitors (% Growth vs. Year Ago Period) Dollar values in thousands Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss Competitor Summary Strictly Confidential Voss Competitor Summary Volume Sales of Voss by SKU (% Growth vs. Year Ago Period) Values in thousands of units One unit of volume represents 128 fl. oz. Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss Dollar Sales per Point of Distribution Strictly Confidential Voss Dollar Sales per Point of Distribution Dollar Sales per Point of Distribution (L-12 as of January 26, 2014) = Plastic/PET SKU = Glass SKU Still Water SKUs Sparkling Water SKUs Avg. Sales per Point of Distribution: $32.5 Avg. Sales per Point of Distribution: $27.5 Dollar values in thousands Source: IRI Multi-Outlet Channel latest 12 weeks ending January 26, 2014

Voss Average Price per Unit Strictly Confidential Voss Average Price per Unit = Plastic/PET SKU = Glass SKU Still Water SKUs Sparkling Water SKUs L-52 L-24 L-12 L-4 Source: IRI Multi-Outlet Channel latest 52 weeks ending January 26, 2014

Voss Commands a Highly Attractive Ultra-Premium Retail Price Point Strictly Confidential Voss Commands a Highly Attractive Ultra-Premium Retail Price Point L-52 Total U.S. Water Average Price per Volume(1) = Voss % Premium 112% 77% 55% 51% 50% 40% Source: IRI Multi-Outlet Channel latest 12 weeks ending January 26, 2014 (1) One unit of volume represents 128fl. Oz.