EFTA00588900.pdf

F morrowmodel European opportunity JEE EFTA00588900 2morrowmodel group is the fastest growing group in the Milan market • We believe in results - We measure our success by the numbers of our clients and their satisfaction - We do not follow industry rules, we question them and change them where it's appropriate to make MSICCTit OUR rules worrt It tot 4445•4n1 citron Ravi " - We want to create successful companies adequately structured, what is trendy but does not create ro sound business we leave to our competitors ORA Foie 106.0 4Psolt - We operate with a sense of urgency / Lik4.) - I 1 • We believe in sharing kat - Our models, our mother agency partners and our L top employees participate in our success • We tell it like it is - We listen hard, but are suspicious of received industry wisdom • We aspire to have the most efficient company in modeling 2100m40011 - We employ our manuals, software and rules to run our companies as a Swiss clock - 60% of our employees have university degrees, 20% in management and economics. Our key managers come from Private Equity, Fashion and have been educated in the best universities t recipient; itdosnot ipIlitw ilis4ARrprsh1aared with any 3rd party without 2morrow's prior written consent. EFTA00588901  Exponential growth of 2morrowmodel group over the last 5 years Founded in 2001, 2morrowmodel group is experiencing rapid growth in the last 5 years ...and is already the largest group for FTEs in since new management arrived... Milan with 48 employees (INDEXED revenue, 2009 = 100%) ••• This information is confidential and was prepared by 2morrmo solely for the direct recipient; t ot ithStalitishwitryfi tipred with any 3rd party without 2morrow's prior written consent. EFTA00588902  One group, 3 companies • www.2morrowmodel.com morrowmodel • >2000 models managed • Paris opening in progress • www.nologomgmt.com • "500 models managed • www.2daymodel.com • "'300 models managed 4 This information is confidential and was prepared by 2morrow solely for the direct recipient; iteiesnot ipi limirrt,4466R,Qrskloared with any 3rd party without 2morrow's prior written consent. EFTA00588903  IL DESIGN DEL COLORE A t 7.11 s DEBORAH OF LIFE . SPORTMAX Ti sent. EFTA00588904 EFTA00588905  Expansion opport Opportunity *Leverage the existing business model and the talent already under contract to open Paris and London - Provide from Milano the software and the internal procedures bringing efficiency in a dysfunctional industry. We are the disruptive technology - Provide from Milano the talent under contract - Create legally an invoicing platform from Italy to exploit tax advantages - Bring top quality management from Milano to kick-start the operations - Include the MC2 network and work together using Jean Luc organization as the American operations - Collaborate with Jean Luc also on the scouting side, even if the 19 mother agencies where we have equity participations and special agreements are already a very, very strong platform Skin in the game Financial terms •On this project 2morrow group will bet its •3M Eur commitment, to be drawn within 3 years network, brand name and top management - not all money needed upfront with very high image and opportunity cost. It - 99% as debt, 1% as capital MUST be a success, failure would put the rest *Total amount to be repaid before any other of the ventures at risk and is unacceptable amount paid to shareholders •Existing personnel will be used to support the - Cost of capital of 6% to be calculated for the months venture, that's why we can open these effectively used structures with limited investments - Target: repay debt 3.5 years from when it's drawn *50-50 split of shares *Complete transparency and quarterly updates 7 This information is confidential and was prepared by 2morrow solely for the direct recipient; it snot ipl bt.Fglig.40,Rwskleared with any 3rd party without 2morrow's prior written consent. EFTA00588906