1. Sawaya Segalas & Co., LLC Preliminary Introductory Materials
February 2011
February 2011
Sawaya Segalas & Co., LLC Preliminary Introductory Materials
IRI Analysis (Data For L-52 ending January 26, 2014)
January 2014

2. 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

3. 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

4. Retail Dollar Sales of Selected Premium Bottled Water Brands
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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

5. Retail Volume Sales of Selected Premium Bottled Water Brands
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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

6. Voss Retail Dollar Sales by Region
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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

7. 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

8. 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

9. 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

10. Voss Retail Volume Sales by SKU
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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

11. Voss SKUs Versus Competitors SKUs
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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

12. 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

13. 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

14. 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

15. 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

16. 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

17. 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.