September, 2010

“High-quality products at fair prices”

I. Overview

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Company Background AJE is one of the few Peruvian multinational companies. It has a successful business model implemented in different markets in Latin America and Asia.

• AJE began operations in 1988 in Peru selling homemade cola drinks door to door

• The company went to international scale starting operations in Venezuela in 1999.

• Currently, AJE is the third largest producer of carbonated soft drinks in Latin America.

* Distribution Centers** Administrative Offices *** Malt

AyacuchoHuancayo Bagua Sullana Lima Venezuela Ecuador México C. Rica Guatemala Tailandia Colombia

Honduras

Nicaragua* El Salvador*

INTERNACIONAL OPERATIONSOPERATIONS IN PERU

Belgica**

España**

1988 1991 1993 1994 1997

1era planta de Cerveza

en Perú

1999 2000 2002 2004 2005 2006 2007

FRANCA

2008

Chile***

Luxemburgo**

Malta**

2009

Panamá*

Higher and more diversified income

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Business Strategy Strategy: To produce the highest quality product at the lowest price.

Sales

Markets

Categories

Income / Profitability

2. Efficient, low cost operations

Profitability

Profitability

3. Light and simple organizational structure

1. High-quality products at fair prices

Bottled Water Market(Perú – liters million)

Carbonated Drinks Market (Perú – liters billion)

Soft drink - price indexJuices(Perú – liters million)

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Peruvian caseLower prices and higher quality allowed successful market penetration.Win-win situation for consumers and producers.

Source: Produce CAGR: 7.9% Source: Produce CAGR:46.8%

Source: Produce

CAGR:64.7%

Launch of Kola Real in

Lima

Launch of Cielo

Launch of Pulp

Source: INEI

Launch of Cifrut

Carbonates Citrus Punch Juices Bottled water Functional

drinks Tea Alcopops Beer

Perú

México

Ecuador

Venezuela

Central America

Colombia

Thailand

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Delivering targeted products to key marketsThe company has a broad product portfolio. Different products and formats are positioned to meet the consumers’ preferences.

CountryPer CapitaConsumption(1) Ranking

Mkt Share Aje

México 151 3 7%Venezuela 72 3 17%Colombia 60 3 7%Guatemala 59 4 12%Ecuador 58 2 18%Perú 49 2 15%Tailandia 38 3 16%

(1) Soft dirnks / Ltrs by year

• AJE applies its business model to soda drinks at the beginning. Then it expands its portfolio to new products such as bottled water, juices and sports drinks.

• AJE has made these products available to the low end market. An extensive population was covered through out our distribution network (1 million points of sale).

• AJE´s strategy is not necessarily to be the leader in the market.8

Market ShareAfter achieving relevant market share with Big Cola, AJE has successfully applied its business model to other growing beverage markets

AJE: “A successful story”

CAGR: 46%

Billion of liters sold by ATIC

A solid and successful growth strategy

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Net Sales (USA Million)

Structure of Sales – 2009

EBITDA (USA$ Million)

Net Profits (USA$ Million)

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Key Financial Indicators

CAGR: +21% / +US$

478 MM

CAGR: +54% / +US$

119MM CAGR: +72% / +US$

77MM

• Began operations in February 2006. Currently it has 6 lines of production.

Líne 1 Mesal 0.535 lts:   164,000 boxes / month                         3.100 lts:      80,000 boxes / monthLínea 2 Mesal 0.535 lts:   275,507 boxes / month Líne 3 Mesal 0.535 lts   282,253 boxes / monthLíne 4 Sacmi 0.535 lts    369,600 boxes / monthLínea 5 Sidel 0.535 lts    650,000 boxes/ month Líne 6 Krones 0.330 lts   403,200 boxes / month (juices)

AJETHAI CO,LTD

1. Ayacucho Preform began operations in June 2007. Currently it has 4 lines of production:

• Line 1 Husky (72 Cavities): Pref. 22gr.     17’000,000 pcs / Month • Líne 2 Husky (72 Cavities): Pref. 22gr.     17’000,000 pcs / Month• Line 3 Husky (96 Cavities): Pref. 20gr.     20’700,000 pcs / Month • Line 4 Husky (96 Cavities) Pref. 20gr     20’700,000 pcs / Mes

2. Ayacucho Caps began operations in July 2010. It has 2 lines of productions:

• Linea 1 Sacmi 64 Cavidades, Capacidad Produccion 100% 44’000,000 pcs/Mes• Linea 2 Sacmi 64 Cavidades, Capacidad Produccion 100% 44’000,000 pcs/Mes

AYACUCHO PREFORM CO,LTD and AYACUCHO CAPS

• KRT began operations in August 2008.

• There are 10 CEDIS (Distribution Centers) covering 30% of territory: Chonburi, Rayong, Angthong, Rama II, Bang Na, Rangsit, Nonthamburi, Chiang Mai,Nakhonratchasima y Nakhonsawan.

• Econoreds: 70 % of territorial coverage through out wholesalers

• Market Share: 16%• Selling points: 121,493

KOLA REAL TRADING CO,LTD.

CEDISCEDISECONORED SOUTHECONORED SOUTHECONORED NORTHECONORED NORTHECONORED NORTH-EASTECONORED NORTH-EAST

Acceso directo a Final Be England Thai 30 Sec8 June.lnk

II. Takeaways

Takeaways

• Aje is a multinational company with more than 20 years of experience

• Proven successful innovative business model

• Experienced management with proven track record

• Quick response to market opportunities

• Atic showed sound financial performance in a world wide adverse economic environment

Aje: “A successful story”

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