FISHERMAN’S FRIEND

2013 – 2017 Sales Forecast to support

Fleetwood Site Development Plan

May 3, 2012

GERMANY

THAILAND

HOLLAND

-

20

40

60

80

100

120

140

160

2009 2,010 2,011

FISHERMAN'S FRIEND vs PS Market (volume sales)

PS

HALLS

LA VOSGIENNE

VICHY

TIC TAC

FISHERMAN'S FRIEND

FRISK

MENTOS

RICOLA

FRANCE

SWITZERLAND

SWITZERLAND

SWEDEN

KEY TRENDSRole of Distributors – route to market

Increasing importance of top markets

Maintain investment towards the consumers

Dependence on top retailers e.g. Carrefour, Lidl, Boots

Difficulty in implementing price increases

“Missing” markets: Latin AmericaAfricaTurkeyPolandMexicoRussiaIndia

KEY TRENDSIncreasing power of retailers

On-line retailing – how big will it get?How will it change shopping habits?Impact on impulse purchase products

Asia will continue to grow but with bumps in the road

Europe – Low consumer / trade confidenceMore promotional driven salesMore focus on price

Nestlé Q1 2012 SalesDeveloped Markets +3%Emerging Markets +13%

ASSUMPTIONS

1) Ziplock remains Pharma markets only

2) Brand image “updated”

3) Laminate for confectionery markets “upgraded” mid 2013 onwards. Phased in gradually

4) One new flavour per annum available

5) Current range of pack variants remains

FORECAST FOR LOZENGES/TABLETS

SUGAR / SUGAR-FREE SPLIT

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013forecast

ZIP LOCKS LOF/IDS & NON-ZIP LOCKS

EUROPE / NORTH AMERICA / S E ASIA