1. Project Strive Presentation to the Fantasy Board of Directors Acquisition Analysis 15 November 2008 Strictly Confidential

2. Target Overview Just Energy Inc.  Founded in 2000  #1 Energy Drink producer  Strongest brand name in energy drinks  Thrive: 70+% of category sales  First company to mass market energy drinks  Excellent retail store distribution  Total Sales last year: over 2 Billion Tremendous energy drink sales growth Projecting sales of over 4 Billion in two years  Numerous, High-Quality Production Facilities

3. Industry Overview Energy Drinks  3 billion in sales last year  Energy Drink Booming Market Growth Sales estimated to have grown at least 50% per year since 2002 Thrive ’ s push largely responsible for growth Rapid growth attracting entry of major beverage companies

4. Industry Overview (cont = d) Energy Drinks  Market growth is fueled by Lifestyle image Trend consciousness  Thrive and Emerge are Top Two Brands “Bom Dia” recent entrant from PureBev Increasingly significant presence, especially in the West Numerous smaller labels compete  Large Convenience Chains are Primary Outlet

5. Current Competitive Trends Energy Drinks  Wide-Scale attempts to establish consumer use  Consumer choice driven by brand image  New Entrants spending to introduce  Deep Pocket, test market advertising to determine size of market opportunity  Growing Private Label interest  Healthy trend niche: “energy plus”

6. Energy Drink Opportunity Competitive Advantages of Just Energy  First Mover Advantage Ability to set price and quality standards Spends less to place in retail and sustain #1 position Brand is synonymous with the product  Good Geographic, Manufacturing & Distribution Plan = Economic Advantage  Just Energy Brand Leadership and Credibility Position

7. Transaction Rationale Project Strive  Strengthens our position in energy drinks Increases access to shelf space with large customers Expands production capacity Gives Fantasy control of the leading brand name Combination of Emerge and Thrive allows more leeway to set market pricing  Complements Fantasy ’ s stable of beverages

8. Transaction Rationale (cont = d) Project Strive  Better positioned to battle Pure’s recent entry  Produces a company more able to battle the Major Beverage Companies (e.g., Coca-Cola, Nestle) for a greater share of overall beverage consumption Builds a superior platform for innovation Energy is high growth segment  Generates Significant Efficiencies 60M in annual cost savings from combining facilities