From: A. de Rothschild < Sent: Friday, September 19, 2014 12:19 PM To: jeffrey E. Subject: Re: Yes Sent from my iPhone On 18 sept. 2014, at 22:10, jeffrey E. <[email protected] <mailto:[email protected]» wrote: speak? On Thu, Sep 18, 2014 at 1:56 PM, A. de Rothschild > wrote: 84 i need them to give in on the brands . Yves spoke to Kathy . He was fuming against Pillsbury and wants to stop using them Sent from my iPhone On 18 sept. 2014, at 19:09, "jeffrey E." <[email protected] <mailto:[email protected]» wrote: yes, lye gone through all their numbers and have spoken to friends. i see no problem for you, and in fact if i were to sell them your stock i woudl make it at a price that reflected the movement over the next two years. ( the term of the new directors. ) so see the 5.3 million shares at the hightest 5 day average over the next two years. 17 50 now. plus balance . On Thu, Sep 18, 2014 at 12:38 PM, A. de Rothschild <mailto > > wrote: I doubt...but if it s the case better for me Sent from my iPhone On 18 sept. 2014, at 18:17, "jeffrey E." <[email protected] <mailto:[email protected]> wrote: EFTA_R1_01358127 EFTA02364240

move <mailto > > wrote: so they are raising debt in an attempt to get their stock price up. its a good On Thu, Sep 18, 2014 at 12:00 PM, A. de Rothschild Yes they can buy back up to10% of their shares at max price 35 on the mkt. If i sell to them its at current mkt price 17.40 Sent from my iPhone On 18 sept. 2014, at 17:49, "jeffrey E." <[email protected] <mailto:[email protected]» wrote: but they have asked for for permission to buy in common shares. up to 35 e , each; so do i understnd correctly that you could sell your 5 imllion shares to anyone? <mailto > > wrote: mgt . On Thu, Sep 18, 2014 at 11:40 AM, A. de Rothschild No not jardine- they hate each . I have no restrictions. I re-read their motions : 70 mio capital+ 300mio additionnal debt - Very heavy on their balance sheet. No clarity,no description of fund use and asking for entire powers to be given to Sent from my iPhone On 18 sept. 2014, at 17:26, "jeffrey E." <[email protected] <mailto:[email protected]> wrote: you own. sale transfer etc. <rnailto > > wrote: maybe , with jardine, but doubtful, -- do you have restrictions on the shares. On Thu, Sep 18, 2014 at 10:49 AM, A. de Rothschild It s looks more like thst they re preparing their group for a merger Sent from my iPhone 2 EFTA_R1_01358128 EFTA02364241

On 18 sept. 2014, at 14:02, "jeffrey E." <[email protected] <mailto:[email protected]» wrote: I dont think they are going to sell. i think they are buying back, shares and issuing new ones. i see no real problem for you, none please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 3 EFTA_R1_01358129 EFTA02364242

please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for 4 EFTA_R1_01358130 EFTA02364243

the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 5 EFTA_R1_01358131 EFTA02364244