Epstein Secrets

ing Corp. 27 Confidential EFTA00605058 ISBRE The Non-US Market While the U.S. market is clearly important for lsbre, the opportunity outside of North America is a significant expansion opportunity for the company. According to data reported by Beverage Marketing Corporation, • Europe is the largest and

re 4: Regional Analysis of US Super-Premium Market Figure 4A: US Super-Premlum Market by Region US Region North East South East Great lake 10% South Central 8% Mid South 7% Plains 5% West 6% California 18% Total US 100% Regional Share as % of Total Volume 24% 22% Figure 4S: Isbre Current an

rease (%). 667.2% Decrease (%). -75.3% Current (StINMBtu): $2.54 Apr-08 Apr-09 Apr-10 Apr-11 J.P.Morgan 45 EFTA00606203 Dave Katz. CFA North America Credit Research 16 February 2012 Coal spot prices ($/ton) Powder River Basin 8800Bru Pam. oleo Miaow lt•C. • In AM in MO Meal .1144 in Jet

,999 68,999 701,812 -2.1% AES, CPN, DYN, EIX, GEN , NRC Southeast 18,593 -10.8% 97,944 97,944 1,013,038 -5.0% AES, CPN, DYN, EIX, GEN, NRG South Central 10,937 -23.r/o 57,397 57,397 682,785 2.5% AES, CPN, EIX, NRG, TXU Rocky Mountain 4,954 -7.5% 25,209 25,209 268,956 0.4% AES, EIX, DYN, N

dential EFTA_R1_01521641 EFTA02444719 I S kE The Non-US Market While the U.S. market is clearly important for Isbre, the opportunity outside of North America is a significant expansion opportunity for the company. According to data reported by Beverage Marketing Corporation, • Europe is the largest and

ional Analysis of US Super-Premium Market Figure 4A: US Super-Premium Market by Region Regional Share as % of US Region Total Volume Great lake South Central Plains West California Total US 10% 8% 5% 6% 18% 100% Figure 48: lsbre Current and Planned US Distribution Source: Beverage Marketing Cor