1. Trade Quality Report September 30 th, 2014

2. 2 SUMMARY OUTLETS TOTAL OUTLETS VISITED 718 ANTIOQUIA 101 BOGOTA 99 CENTRAL 100 COSTA 97 OCCIDENTE 98 ORIENTE 170 KA 53 Total samples Age Index 820.826

3. 3 TQI ON SEPTEMBER DECREASED TO 84% Age index decreased from 93% to 90% and sensory result maintains a good performance (93%) * Club Colombia Negra and Redd’s Dy are not included in TQI Country Results

4. 4 REGIONALS BEHAVIOUR LAST SIX MONTHS All Regionals had a good result on September. Negative trend in Antioquia and KA.

5. 5 * Club Colombia Negra and Redd’s Dry are not included in TQI Country Results Poker Ligera is the brand mainly affected by TQI result.

6. 6 Age index is affected by product between 12 and 24 weeks in Poker Ligera (33.4%) * Club Colombia Negra and Redd’s Dry are not included in TQI Country Results

7. 7 EXPIRED PRODUCT WAS NO FOUND ON SEPTEMBER Product between 12-24 wk. increased its result on September (2,7%)

8. CLUB COLOMBIA ROJA AGE INDEX

9. CLUB COLOMBIA NEGRA AGE INDEX * Club Colombia Negra is not included in TQI Country Results

10. REDD’S DRY AGE INDEX * Redd’s Dry is not included in TQI Country Results

11. AGE INDEX MALTIZZ SABORES PET - SEPTEMBER

12. 12 Antioquia is affected by product between 12-24 wk in Club Colombia (24.5%) and C.C Roja (33.7%) **Redd´s Dry is affected by expired product (9.72%) ** Club Colombia Negra and Redd’s Dry are not included in TQI Country Results

13. 13 AGE INDEX ANTIOQUIA – WEEKS ON MARKET

14. 14 TQI Bogotá is affected by sensory result in Poker Ligera (82%) ** C.C Negra is affected by product between 12 - 24 weeks (5,4%). ** Club Colombia Negra is not included in TQI Country Results

15. 15 AGE INDEX BOGOTÁ – WEEKS ON MARKET

16. 16 Central had an excellent result on September (94%) ** C.C Negra is affected by product between 12 - 24 weeks (100%). ** Club Colombia Negra is not included in TQI Country Results

17. 17 AGE INDEX CENTRAL – WEEKS ON MARKET

18. 18 TQI Costa is affected by age index in C.C Roja (71%) ** C.C Negra and Redd´s Dry are affected by expired product (31.39% - 27.78%) ** Club Colombia Negra and Redd´s Dry are not included in TQI Country Results

19. 19 AGE INDEX COSTA – WEEKS ON MARKET

20. 20 TQI Occidente is affected by product between 12 - 24 wk. in C.C Roja (36,7%) ** Redd´s Dry is affected by expired product (7.63%) ** Club Colombia Negra and Redd´s Dry are not included in TQI Country Results

21. 21 AGE INDEX OCCIDENTE – WEEKS ON MARKET

22. 22 TQI Oriente had a good result on September (91%) ** Redd´s Dry is affected by product between 12-24 wk. (52.2%) ** Club Colombia Negra and Redd´s Dry are not included in TQI Country Results

23. 23 AGE INDEX ORIENTE – WEEKS ON MARKET

24. 24 KA is affected by product between 12-24 wk mainly in Poker Ligera (41.5%) ** C.C Negra is affected by expired product (0.29%) ** Club Colombia Negra and Redd´s Dry are not included in TQI Country Results

25. 25 AGE INDEX KA – WEEKS ON MARKET

26. 26 Sur Oeste (Bogotá) is the sales area affected for product between 12 – 24 weeks. POS classification C had the highest percentage of product between 12-24 wk.

27. 27 KEY MESSAGES BY AREA Sales TQI on September decreased to 84% Age index decreased from 93% to 90% and sensory result maintains a good performance (93%) Poker Ligera is the brand mainly affected by TQI result. Expired product was no found on September Product between 12-24 wk. increased its result on September (2,7%) Antioquia: is affected by product between 12-24 wk in Club Colombia (24.5%) and C.C Roja (33.7%) Bogotá: is affected by sensory result in Poker Ligera (82%) Central: had an excellent result on September (94%) Costa: is affected by age index in C.C Roja (71%) Occidente: is affected by product between 12 - 24 wk. in C.C Roja (36,7%) Oriente: had a good result on September (91%) KA: is affected by product between 12-24 wk mainly in Poker Ligera (41.5%) Production Sensory: results are good for Aguila, Mainstream and Premium brands. PPQA: DPMO decreased on September. PPQA in Barranquilla need improvement. Haze: results are good for Mainstream and Premium brands. Club Colombia from VAL and C.C. Roja from TOC show a punctual deviation Foam: Poker from TOC, Aguila and Aguila Light from BAQ, Club Colombia from BUC and VAL need improvement.

28. 28 Sensory results are good for Aguila and Premium brands.

29. 29 Sensory results are good for Mainstream brands

30. 30 Bavaria DPMO – PPQA DPMO decreased on September

31. 31 Bavaria Six SIGMA Value for DPMO - PPQA

32. 32 Issues to improve PPQA

33. 33 Haze results are good for Mainstream and Premium brands Club Colombia from VAL and C.C. Roja from TOC show a punctual deviation

34. 34 Foam results Poker from TOC, Aguila and Aguila Light from BAQ, Club Colombia from BUC and VAL need improvement.

35. 35 KEY MESSAGES BY AREA Sales TQI on September decreased to 84% Age index decreased from 93% to 90% and sensory result maintains a good performance (93%) Poker Ligera is the brand mainly affected by TQI result. Expired product was no found on September Product between 12-24 wk. increased its result on September (2,7%) Antioquia: is affected by product between 12-24 wk in Club Colombia (24.5%) and C.C Roja (33.7%) Bogotá: is affected by sensory result in Poker Ligera (82%) Central: had an excellent result on September (94%) Costa: is affected by age index in C.C Roja (71%) Occidente: is affected by product between 12 - 24 wk. in C.C Roja (36,7%) Oriente: had a good result on September (91%) KA: is affected by product between 12-24 wk mainly in Poker Ligera (41.5%) Production Sensory: results are good for Aguila, Mainstream and Premium brands. PPQA: DPMO decreased on September. PPQA in Barranquilla need improvement. Haze: results are good for Mainstream and Premium brands. Club Colombia from VAL and C.C. Roja from TOC show a punctual deviation Foam: Poker from TOC, Aguila and Aguila Light from BAQ, Club Colombia from BUC and VAL need improvement.