ICN Merger Workshop March 10 11 2009

ICN Merger Workshop March 10 – 11, 2009 Taipei, Taiwan Panel I: Setting Notification Thresholds “Determining Whether a Filing is Required or Advisable” 1

European Commission Notification Thresholds: Combined worldwide turnover exceeding € 5 billion AND at least 2 parties each have EU-wide turnover exceeding € 250 million OR Combined worldwide turnover exceeding € 2. 5 billion AND combined turnover exceeding € 100 million in at least 3 Member States AND turnover of each of at least 2 parties exceeding € 25 million in same 3 Member States AND EU-wide turnover of each of at least 2 parties exceeding € 100 million. Parties’ Turnover: Fantasy Beverage: Just Energy: worldwide € 5. 7 billion worldwide € 1. 5 billion EEA € 200 million Notification Required: No, but check Member States. 2

Korea, Czech Republic KOREA CZECH REP. Notification Thresholds Either party has worldwide turnover exceeding KRW 100 billion (approx € 79 million) AND both parties have turnover in Korea exceeding KRW 20 billion (€ 15. 8 million) Notification Thresholds Combined net turnover in Czech Rep. Exceeding CZK 1. 5 billion (approx. € 54 million) AND each of at least 2 parties combined Czech Rep. Turnover exceeding CZK 250 million (approx. € 9 million) Parties Turnover Fantasy Beverage: € 25 million Just Energy: € 10 million Parties Turnover Fantasy Beverage: € 30 million Just Energy: € 60 million Notification Required No Notification Required Yes 3

Brazil Notification Thresholds Either party has at least 20% market share OR at least 1 party has gross turnover in or into Brazil of at least BRL 400 million (approx. € 151 million) Parties Turnover/Market Share Fantasy Beverage: € 50 million Market share: ? ? Just Energy: € 30 million Market share: ? ? Notification Required ? ? 4

Slovenia Market Share Test: Combined aggregate annual turnover of all parties, including affiliates is more than € 33. 3 million before tax in the Slovenian market in each of the last two years OR Combined market share of the parties, including affiliates, exceeds 40% in Slovenia, or on a substantial part of the Slovenian market. Parties’ Market Share: Fantasy Beverage: ? ? Just Energy: ? ? Notification Required: ? ? 5

Israel Market Share Test: Combined revenue in Israel exceeding ILS 150 million (approx. € 26. 7 million) AND each of at least 2 parties has revenue in Israel of ILS 10 million (approx. € 1. 8 million) OR Combined market share exceeds 50% OR A party to the transaction is a monopoly Parties Turnover Fantasy Beverage: € 30 million Just Energy: € 1 million ènot notifiable based on turnover Parties’ Market Share: Fantasy Beverage: >50% energy bars, healthy snacks Just Energy: <5% energy drinks; no other sales Notification Required: ? ? ? 6

Austria Notification Threshold: Combined turnover at least € 300 million AND combined Austrian turnover exceeding € 30 million AND each of at least 2 parties has worldwide turnover exceeding € 5 million. “De minimis exception”: No filing required if only 1 party has Austrian turnover exceeding € 5 million AND combined worldwide turnover of other parties doesn’t exceed € 30 million. Parties’ Turnover: Fantasy Beverage: Just Energy: worldwide € 5. 7 billion worldwide € 1. 5 billion Austrian € 0 Austrian € 50, 000 sales + representative office Notification Required: Yes 7

Ireland Notification Threshold: Worldwide turnover of each of at least 2 parties was at least € 40 million AND each of at least 2 parties carries on business in any part of the island of Ireland AND turnover in Ireland of at least 1 party of at least € 40 million Parties’ Activity: Fantasy Beverage: finance vehicle; internet sales (€ 2, 000) Just Energy: € 50 million turnover Notification Required: ? ? 8

Russia Notification Threshold: The agreement concerns fixed productive assets and/or intangible assets, shares in Russian companies or rights in Russian commercial organizations AND The agreement restricts or may restrict competition in the Russian Federation. Parties’ Activity: Fantasy Beverage: small bottling operation; no sales yet Just Energy: € 100 million in sales Notification Required: ? ? 9

Germany Notification Threshold: Combined worldwide turnover exceeding € 500 million AND Turnover in Germany of at least 1 party exceeding € 25 million (New statute: Each of 2 parties at least € 5 million. ) Parties’ Turnover: Fantasy Beverage: Just Energy: worldwide € 5. 7 billion worldwide € 1. 5 billion Germany € 50 million Germany € 2 million Notification Required: Old threshold: Yes New threshold: No 10

Argentina, Poland ARGENTINA POLAND Notification Thresholds Combined turnover in Argentina exceeding ARS 200 million (approx. € 47 million) AND value of local assets exceeding € 4. 7 million Notification Thresholds Combined worldwide turnover exceeding € 1 billion OR combined turnover in Poland exceeding € 50 million IF target’s revenues in Poland exceed € 10 million in each of last 2 years Parties Turnover Fantasy Beverage: € 50 million Local Assets: ? ? Just Energy: € 1 million Local Assets: ? ? Parties Turnover Fantasy Beverage: € 60 million in Poland Just Energy: € 4 million in Poland Notification Required ? ? Notification Required No 11

Turkey Notification Threshold/Market Share Test: Combined market share in Turkey exceeding 25% OR Combined turnover in Turkey exceeding NTL 25 million (approx. € 14 million) Parties’ Turnover/Market Share: Fantasy Beverage: € 16 million Just Energy: € 0 Notification Required: Yes 12