1. How We Acquire New Business Revisited  A refined strategy delivers better results  Prepared for the Buenos Aires AGM of the IPRN - April 2012

2. What we did in 2009 …  Enhance focus on two capability practices  Investor Relations as national “door opener”  Marketing Communications in the Midwest  Establish two new industry groups  Health Care Practice  And Energy Practice  Having a strategy worked better than the actual strategy

3. What we did in 2010 …  Change focus:  Investor Relations remains a national “door opener”  Crisis Management begins to attract more business  Reputation Valuation is added as another discipline  Firm resources devoted to using these three to grow  Increased networking to build relationships  Sharpened targeting of possible prospects

4. What we started in 2011 …  Fresh strategy, combined with recovery, generated growth  But a strategy created in crisis, was not the strategy for future  Consultants, engaged to help us chart our course, suggested:  Use the broader leadership team to create a formal strategic plan  Establish specializations in a small number of vertical industries  Develop a more focused approach to acquiring the best talent  Set up a dedicated business development and marketing function  Revise the revenue pricing model to capture costs and investments

5. What we started in 2011 …  Leadership Group held an off-site retreat to discuss the future  A former McKinsey executive was asked to moderate the retreat  Senior executives were surveyed, to help shape the discussion  Even the mission and vision were called into question  But the most important topic was direction for the firm We had survived, but now how would we keep growing?

6. What we started in 2011 …  Here are some of the results of that leadership survey:  Specialization is required on industry verticals, such as aviation  Business development should be oriented toward “dream clients”  Business development specialist – that is all they do – is needed  Alter the business model of the firm to ensure profitability, growth  More formally develop great client servers and leaders from within

7. What we started in 2011 …  In the retreat, leadership developed these strategic priorities:  Distinguish the firm through market-leading, differentiated practices  Drive additional growth through specialization in select industries  Ensure core service lines are competitive, e.g. improve digital offering  Grow the talent base, accelerating performers who grow business  Strengthen quality of the client base, shifting to larger relationships  Become recognized as a national firm headquartered in Cleveland

8. What we started in 2011 …  We also developed some organizational capacity requirements:  Create and sustain a process for managing the vertical strategy  Strengthen the business development and marketing capability  Create financial model with tighter pricing and expense policies  Develop a comprehensive talent management program

9. What we are pursuing in 2012 …  7 work groups were established to pursue these priorities  We were too excited, “biting off more than we could chew”  So our efforts now focus on 4 work groups:  Identifying and building vertical industry specialization  Integrating new “Reputation Valuation” practice into firm  Determining best course on business development  Developing a more disciplined approach to revenue

10. What we are pursuing in 2012 …  What we decided to do about vertical industry specialization  Aviation, and energy and natural resources  What we decided to do about Reputation Valuation practice  High priority, with investor relations and crisis management  What we decided to do about business development  Hire a top talent whose sole responsibility is opening doors  What we decided to do about new model for revenue growth  Impose 7.5% administrative fee to capture costs, investments

11. What we are pursuing in 2012 …  First, here are our next steps on vertical industry specialization  Identify airlines with which we do not currently work  Formalize relationship with Chartis Aviation (insuror)  Expand relationships with top aviation law firms  Start marketing effort, e.g. speeches, sponsorships  Pursue “thought leadership” through media, blogs  Second, we are interviewing for business development specialist

12. What we have achieved so far in 2012 …  Third, we are tightening our focus on priority practices:  Investor Relations clients / targets  Bob Evans, Brinker, Cliffs Resources  Crisis Management clients / targets  Boart Longyear, Akzo Nobel, Cardinal Health  Reputation Valuation clients / targets  McDonald’s, Coca Cola, Campbell Soup

13. What we really expect to achieve in 2012 …  Establish differentiation from our biggest competitors  Create awareness of vertical industry specializations  Get, and “turn loose,” business development specialist  Attract more “dream clients” in vertical industry targets  Recruit and retain more top talent from across the US  Grow client base, now 40% outside area, to more regions  Position Dix & Eaton as “national firm … based in Cleveland”