1. Confidential and Proprietary to ECRM ECRM Ad Comparisons THE LEADING PROVIDER OF PROMOTIONAL DATA AND BUSINESS INTELLIGENCE 1

2. Confidential and Proprietary to ECRM From The recent Kraft-Heinz merger will create the third-largest food and beverage company in North America, with a portfolio of iconic brands, eight of which are more than $1 billion, and five brands each worth between $500 million and $1 billion. The complementary nature of the two brand portfolios present a great opportunity for synergies, which include an estimated $1.5 billion in annual cost savings planned to be implemented by 2017 -- synergies that will come from the increased scale of the new organization, the sharing of best practices, and cost reductions. One area in which these cost reductions – or at least greater efficiencies – are likely to impact every retailer selling Kraft and Heinz products, is in the brands’ promotional activities and trade spending, as the combined companies seek to optimize their promotional reach via shared ad space and the cross-promotion of complementary brands. For the full article, written by ECRM Data Lead Business Intelligence Analyst Tanie Andraos, click here: http://www.progressivegrocer.com/industry-news-trends/cpgs-trading-partners/expert-column-kraft- heinz-promotional-opportunities The following slides contain some of the research on which the article was based. INTRODUCTION 2

3. Confidential and Proprietary to ECRM METHODOLOGY 3 Time Frame: 52 weeks ending 3.28.2015 and the comparable year prior Retailers: All retailers with two years of consistent promotion coverage for the past 52 weeks Categories: All Categories Manufacturers: Kraft and Heinz. All data will be provided at the manufacturer perspective unless otherwise noted. Media Types: Circulars Only.

4. Confidential and Proprietary to ECRM SHARED AD BLOCKS PRESENT OPPORTUNITY 4 Retailer % that Heinz Ads That Featured Kraft Dollar General14.3% Rite Aid50.0% Target Stores12.5% CVS7.1% Kroger ATL2.0% Meijer2.9% Safeway Stores5.1% Tom Thumb5.5% Publix Super Markets2.7% BI-LO1.5% Marsh Supermarkets2.7% National Total1.4% Tom Thumb - Dallas, TX - 6/11/2014 Page 4 (Middle) Target Stores - Minneapolis, MN - 11/9/2014 Page 35 (Middle) Kroger ATL - Atlanta, GA - 2/18/2015 Page 6 (Wrap) Despite a complementary brand mix, only 1.4% of Heinz ad blocks have featured a Kraft product in the past. Shared ad blocks can be used to co-promote complementary product mixes or generate trade spend savings for the combined company.

5. Confidential and Proprietary to ECRM 5 MERGER PULLS KRAFT INTO FROZEN AISLE Combined Company Category Mix Heinz Kraft

6. Confidential and Proprietary to ECRM 6 COMBINED BRANDS STRONG IN CONDIMENTS AISLE Supplier Share of Condiments Sub-Category While most players in the condiments category tend to focus on a specific condiment type, the combined Kraft/Heinz brand portfolio will stretch the entire aisle.

7. Confidential and Proprietary to ECRM OPPORTUNITY IN DRUG CHANNEL FOR HEINZ BRANDS 7 Combined Company Share of Voice by Account Heinz has relatively little promotional support at the big 3 drug retailers. The merger may present an opportunity to bring those accounts in line with other national accounts.

8. Confidential and Proprietary to ECRM KRAFT LEADS PAIR IN PROMOTIONAL ACTIVITY 8 BrandShare of Combined Voice Kraft16.1% Oscar Mayer15.2% Capri Sun4.0% Planters4.0% Jell-o4.0% Maxwell House3.9% Lunchables3.8% Kool-Aid3.4% Heinz*3.2% Philadelphia3.0% Velveeta2.9% Crystal Light2.6% Ore-Ida*2.4% Kraft Singles2.0% Taco Bell Home Originals1.9% Cool Whip1.7% Weight Watchers*1.6% Breakstone's1.5% Gevalia1.5% Miracle Whip1.4% Other19.8% *Heinz Brands Share of Combined Voice