Commercial and Confidential

The Super Banana (SB AgriNutrition)

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential

Company: SB AgriNutrition (SB)

Office: NU Technology Park, Neue Universität/ Nouvelle Université
Town: Corbeauville-Rabenbüttel (CR )- a new joint economic zone /cross-
border city between France and Germany

2017 News Headlines:

“... the agriculture-engineering startup SB announced that they have now completed their initial
tests successfully and have also received the relevant patents from the EU and US patents
offices...” (www.techbabble.com)

“... a company to watch, the owners of the SB have today announced that they have received
global patents for their ground-breaking product... will this be the most exciting IPO in the next 5
years?” (www.investorsgrapevine.com)

“...A French-led team has designed a 3D printable food source - a unique first in the world. Are we
going to lose this technology and jobs to the Chinese again? ... le Clairon de France says Non!...”
(www.leclairondefrance.fr/comments.html)

“... A team of Sino-European researchers have designed the most advance food in the world. Will
the Chinese people miss out on this source of nutrition? We asked an official from the Ministry who
assured us that this will be available to the Chinese people. We at the Heartbeat of China will hold
them to their word...” (www.heatbeatofchina.ch/editorial)

“... we invented this 8 years ago, these foreigners stole our design and technology, we will sue
them... we should bomb these people back to the Stone Age as well...”
(www.redneckpatentgnomes.com)

“... the upcoming investment round for SB will be closely watched. We believe that various
sovereign wealth funds are interested in investing as are venture capitalists and major
corporations...” (www.investorscompass.com)

“... will this be for real or another bust? SB has excited both the public and the investment bankers,
but will the proposed strategy for SB convince everyone?” (www.investorsbible.com)

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential

Background
A team of former research scientists and engineers from NU formed a small company at the NU
Technology Park (known locally as the Nut Park). They have developed a new type of food
product - a 3D printable Super Banana which can be programmed with all the nutrients needed for
sustaining life.

Besides satisfying you, the Super Banana can:

• be designed with special nutrients for particular needs (slow energy releasing carbo, for
example).
• be produced rapidly to meet the needs of disaster relief.

Because of its designed nature, the Super Banana is:

• nor susceptible to disease ad drought, making it the ideal food source for the whole world.
• the solution to food security concerns - you can store it for more than 25 years without
deterioration*

* laboratory tested under simulated conditions

The Super Banana is made with the unique Ultrawave® PicoElectronic-Piezoelectric Power® (PEPP)
3D content generator which means it can easily meet every food safety requirements for the next 20
Years (by modifying the software).

The Super Banana is compatible with food cultures the world over - but unlike a normal banana, it
will never go brown or black, it will always remain tasty and fresh in its designer skin which
protects it from the atmosphere and insect pests.

Trials have shown that individuals eating the Super Banana has a fatigue recovery rate 72% higher
than the current industry leader in energy drinks or energy food bars. (Trials conducted with 2,350
people in Europe, November 2016 to June 2017).

Since the various technology elements are all completely new: the Ultrawave® 3D nozzle, the
integration of the PEPP generator with the interface software and the nutrition diagnosis sensors
and circuits, there is no easy way for anyone to estimate the true component/ production costs as
many of the microprocessors and integrated circuits do not exist except as small-scale production
prototypes. However, industry experiences from the electronic instruments industry, food
industry and pharmaceutical manufacturing have indicated that production costs are about 57%
more than the average cost of natural bananas (based on the 2015 US retail price of US$ 0.6/lb).

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential

The design team claimed that they have revolutionised the way food is produced and the SB betters the
similar secret technologies Apple uses to manufacture the next generation iPhone components.

We estimated that for a European production, we think the usual £500,000/€ 540,000/$650,000 average cost
for a conventional industrial 3D printer of this capacity can be produced for £370,000 /
€400,000/ $480,000 with the new technology invented by the SB team. However, the development cost of
this machine, code name UWPG, is estimated to be around £16-21M/ €17- 22.3M /$21-
27.5M. A European factory to house three of these generators will cost about £15M
/€16.2M/$19.5M. The factory footprint will be about 5 hectares.

We estimate the following projected production schedule for Europe.

Estimated standard Super Banana production

in 2017 in 2018
#bananas time #bananas time
20 10 seconds 20 8 seconds
120 60 seconds 150 60 seconds
7200 1 hour 9000 1 hour
57600 8 hour 72000 8 hour
11520000 200 8 hr days 14400000 200 8 hr days
43200000 3 # generators
2 SHIFTS/day
23040000 2 # shifts 28800000 2 # shifts
86400000 3 # generators

Super Banana + extra Nutrients: same production time

Super Banana ++ extra Nutrients & Logos: same production time

From information reported by SB and our estimates, we are envisaging the following costs
structure for Europe and the World:

per 200g Super Banana

(£) Standard (SB) SB+ nutrients SB+ nutrients+logo
Cost £0.120 £0.140 £0.150
Retail price £0.250 £0.400 £0.500
Profit £0.130 £0.260 £0.350

The costs will include raw material*, water and environmental reprocessing of spent coolant.
Worldwide shipping and delivery prices have been factored into the retail prices. The power
requirements are significant and is covered in the section about the technology

(* the Ultrawave/ PEPP system has successfully converted feldspar to become the raw materials for
the Super Banana)

These prices will also remain the same for volume or small-scale production. It would appear that the
Ultrawave/ PEPP system does not cost more or less for varying production levels.

We believe that SB will not be able to reduce costs by much during the lifetime of this generation of
UWPG. So the cost structure will remain realistic until possibly 2020, when the next generation of UWPG
is available. We then estimate a probably cost reduction of 17-20%. The PEPP’s costs are not expected to
© 2017 IKDS Research All Rights Reserved
 Commercial and Confidential
drop at all.

We at Banco IKDS analysis team have estimated that the costs will be comparable in the US but 15%
less if produced in China, and 8% more if produced in Japan.

The estimated profitability is shown below.

It should be noted that SB is not competing with the natural banana market unless a severe
shortage of bananas occurs through the banana blight of the Cavendish bananas - the main species
of bananas grown in the world (see below).

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential
It is our belief that the research team is actively seeking the following:

• funding to develop an industrial scale Ultrawave/ PEPP generator ~£20M

• funding to build 3 such generators ~£1.2M
• a factory to start production ~ £15M (including land)
• gaining US/EU/ world–wide approvals ~£3M

a total investment sum of ~£40M is required in the next 2 years if the product is to see production by 2018.
This is for a factory in Europe. The cost of supplying power to this setup is not included as it is likely to
be a major capital cost (see section on technology).

We at Banco IKDS research department believes that there are two immediate main unique
attributes that the SB has which should be emphasised:

1 The majority of banana type in the world is the Cavendish banana, but there is a
major crisis with this banana as the BBC reported in early 2016
(http://www.bbc.co.uk/news/uk-england-35131751). A banana fungus known as Panama
disease or banana wilt is causing long-term damage to an essentially mono-culture crop.
Thus far 10,000 hectares of Cavendish bananas have been destroyed so far. We see the SB
is a long-term solution to this problem, which currently does not have a solution.

2 Food security is a major issue with many countries which has either marginal food
production lands (eg Arabian Peninsula or Japan) or a large/ growing population
(eg China).

Other opportunities include:

3 Bespoke medical drugs/ nutrients designed-in - This is a significant opportunity as the SB

can contain various prescription medication as well as vitamins etc.

4 Disaster-relief food supply - The non-perishable characteristics of the SB can be stored

by donor nations and used as emergency relief food supply.

5 Information/ Branding - the ability to print unique logos and instructions on the skin as
well as physically on the banana can see both marketing and education applications.

6 Specific recreational uses - it is possible to design and produce SB with mood/mind

altering characteristics, depending on the laws of particular jurisdictions.

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential
We believe these opportunities for SB are significant but there are also disadvantages as
outlined below.

Opportunity Advantages Disadvantages

Replacement for the Large numbers involved Need to be comparable to
Cavendish banana
natural banana prices
Food Security SB does not deteriorate with Moral issue on pricing
storage
Medicine/ Nutrient carrier Easy to use delivery system Getting big pharma
companies to agree licenses
and pricing
Disaster relief Non-perishable, designed Moral issue of pricing
nutrients
Information/ Branding Higher margins and Smaller batch sizes
profitability
Recreational use (inclusion of Higher margins and Legal issues
mind altering substances) profitability

Options for the SB

The SB team needs to decide which is the best way for their company to go forward. The
following options are what we at Banco IKDS Research believe consider viable:

Company structure
• To enter into a Joint-Venture with a large established company: eg, Unilever, Nestle,
Danone or Kraft Heinz.
• To sell to an investor (Venture Capitalist or Sovereign Wealth Fund) – preferred by the
owners
• Set up as a charity/ not for profit company

Production
• To manufacture the product themselves in their own factory (to be built)
• To subcontract the manufacturing to WeberKäseTek, a Mittelstand company known to the
founders
• To subcontract the manufacturing to Han Yo Premium Foods of China
• To license the SB to other companies for production - such as Modelez International, Cargill
or Archer Daniels Midland Company (ADM).

Note: not al the companies named above are in the pool of investors or have not been pre-selected
as suitable investors.

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential
The UWPG System
We have managed through discussions with our contacts in the NUT Park to gain some indications
the UWPG system. It would seem that the Ultrawave generator is a modern day alchemy machine
that transform matter through extraction as well as combination. We have produced what we
perceive to be an accurate representation of this machine.

The lab model has been tested but was notable for its massive heat generation as a by-product. It
was rumoured that the lab model required significant energy inputs and this was borne out by the
power requirements of planned industrial model (see below).

The Ultrawave generator is the extractor and converts the input into whatever constituents are
required and it is believed that the raw material is feldspar (see note below). Although in theory any
raw material can be used (eg soil) currently the team has achieved consistent success with any grade
of feldspar. The PEPP combines the constituents into the desired product and is controlled by the
various software programs and proprietary databases.

The planned industrial model is shown below.

The power supply (200MW) is equivalent of a small nuclear reactor or 15km2 of solar plant or 75 km2
of wind farms. (Note this is sufficient power to supply 85,000 homes).

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential
The heat generated by the Ultrawave generator is fed through a steam turbine to generate power for
the PEPP generator. The heat output from the PEPP is also fed to the steam turbine to generate
electricity. The design team estimated that the power requirements will drop by 50% or more as the
system is refined over 5 years.

Note:
Cost of building a 250MW solar farm: about €270M€
Cost of building a 250MW wind farm: about €366M€
Cost of building a 250MW nuclear power station: about €8B (low output nuclear is not economical)
not including additional costs for public relations campaign, and budgeted decommissioning costs
of €12B, also nuclear power is not possible in Germany or Sweden.
Cost of building a 250MW gas-powered plant: about €200M

This needs to be taken into account for the initial investment.

Feldspars (KAlSi3O8 – NaAlSi3O8 – CaAl2Si2O8) form about 41% of the earth’s crust - they are rocks
and rock crystals that are used in glass and ceramics production. The centres of feldspar production
are: Italy, Turkey, China and Thailand. (See map below).

(Source of map: British Geological Society)

Average cost of feldspar €120/ tonne (2018, prices for delivery from Global Minerals PTY)

The altruistic nature of the inventors meant that they are not willing to research the use of the UWPG
system to generate high worth products (gold, palladium etc), instead the focus is on saving the
world. However, the research team has indicated that once a cure for cancer has been found, they
will devote the UWPG in developing low costs medication. Nonetheless, they do not see much
progress in this area for about 10 years (or 2025 earliest). It also means that the preferred choice of
power supply is likely to be renewable - and the land price needs to be taken into account.

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential

The Team
We have done some digging about the SB team, which is made up of a group of former
engineering students at NU. They are:

Andrea Wang- IT programming expert who designed the algorithm for

the Ultrawave® generator, she is the daughter of an investment banker
and usually buys the pizza and beer for the whole team. Not too interested
in money, to her, this is an intellectual exercise, not necessarily reality. Quite
an aloof personality, only talks to her close friends and rarely on social
media. She has no concerns about mind-altering substances being included
in the Super Banana formula.

She has not seen her parents once her trust fund started paying out when
she was 24 (6 years ago).

Emma - interface designer and system integrator - expert in getting

different systems (the PEPP and Ultrawave) to work together seamlessly,
she is also the niece of the Local (French) Government’s industry
investment department manager. She is keen to promote jobs locally as
well as being a French patriot first and Euro patriot next. Her dream is
eventually becoming the Minister of Information in France.
She has strong concerns about Super Banana going into the hands of
“bad” people.

Chat - designer of the PEPP and the Ultrawave generator. His expertise is
in microelectronic circuits, not strong on interpersonal relationships, tend
to talk in jargon. Not particularly interested in money. However, he is
likely to listen to Emma’s views. His fear is losing control of his designs.

He has a tech blog which is incomprehensible to people who do not

understand the topic.

Juliette - CEO of SB, expert in nutrition, has worked at both Danone and
Nestle previously - she is considerably older than the others and seen as a
mentor to the rest of the team. Her family were immigrants and her little
brother died of malnutrition when she was young and she vowed to find a
solution. She likes the thought of becoming very rich but does not want to
give up ownership.

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential

Marcus-Lucas or ML - an accountant and a very close friend of Andrea

Wang, he has worked previously for a company importing medical
instruments from Han Yo Premier Foods. ML is after both fame and
fortune and wants to succeed at all costs. His vision is to become the CEO
of SB.

He is a protege of Juliette but will also listen to people he respects. Very

clever (bordering on arrogant).

Stefan - son of Erik Weber, owner of WeberKäseTek, expertise is in

engineering design - simplifying complex mechanisms into elegant and
reliable systems for cheese manufacturing. Does not really want to work in
family firm, but feel it is his duty. He wants to stay with SB and become its
operations director.

Other Players - we believe these individuals each have significant roles to play in the way the
future of Superbanana is decided. There may be new players coming on board that we are not
aware of.

Professor Tom Askew, a US transplant from Palo Alto, is the CEO of the
NU Technology Park. He has been running the Technology Park for 5
years and this project is the first real success.

He understands that the investment finance may work out best through a
Chinese manufacturing route, but he is also on the CR chamber of
commerce and is under pressure to support local enterprises. NUT Park
paid for SB AgriNutrition’s global patents and is keen to get something
back from its 10% ownership of SB AgriNutrition.

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential

Sabina Becker, a lawyer at Anglo-Dutch Healthcare Technologies

Conglomerate. Sabina sees the new company as a way to break
Nestle’s leading position in this market. She has persuaded her
company to propose a 50:50 joint-venture with SB AgriNutrition.

However, she is personally concerned that the original team may get
sidelined by the specialists in the conglomerate.

Claude DuBois, an official from the French Ministry of Economy,

Productive Recovery and Digital (the Industry Ministry). His interest is for
the new company to be a French company, producing in France.

Failing that, he will accept a French company with production in

Germany.

He has an investment package to support the company with the French

Government then owing 35% of the company. He is also willing to
declare the new company as a “strategic asset” of France and block
takeover or foreign (non-EU) ownership. He is offering to meet the
average offer price + 10%.

He sees some leverage with Emma’s sentiments in SB AgriNutrition.

Frank Delany, a US venture capitalist who missed out on investing in both

Facebook and Google.

He is determined that he will win SB AgriNutrition, he has readied a

package of investment finance that will make the owners multi-
millionaires and Delany Assets the owner of 25% of AgriNutrition.

He doesn’t really care who owns it in the end, as an IPO in 5 years will
make him a multi-billionaire.

© 2017 IKDS Research All Rights Reserved

 Commercial and Confidential

Erik Weber, owner of WeberKäseTek and father of Stefan. He wants to

produce the SuperBanana, but is not too sure about expanding his
company to ensure there is sufficient capacity to match the potential sales
that the American venture capitalist is talking about.

He is quite happy with WeberKäseTek being its current size. However, he

gave his son some start-up money for SB and subsequently owns 6% of the
company.

WeberKäseTek is a designer/manufacturer of food processing equipment

as well as a contract manufacturer of own-brand cheese/dairy products.

Han Foo, CEO of Han Yo Premier Foods is interested in producing the SB

because he sees this as a “history changing product” for the food security
of the ordinary people of the world. It will also put Han Yo to the forefront
of Chinese companies.

He wanted to work as a partner to SB AgriNutrition, but understands that

some of his staff members may wanted to steal the intellectual property
and start their own company. So he is keeping a low profile in offering
investment finance.

Igor Maruff, a successful venture capitalist based on Monaco specialising

in licensing technology. In the mid-1980s, he was suspected of selling
restricted technologies to the Soviet Union and subsequently to Iran.

However, nothing has ever been proven in court. Now semi-retired, he

still occasionally looks a big deal to settle his legacy.

He is currently linked to several E European oligarchs as well as the

sovereign wealth fund of an Arabian Gulf country. Igor is fairly
ruthless and tends to get what he wants by increasing the size of his
financial offers.

Mr S is an unknown, he claims to represent a large mysterious US

corporation that is willing to invest heavily in SB AgriNutrition. He does
not talk very much about his sponsors/ clients (?) but insists that he has
complete authority to negotiate. His suggestion is an investment towards
75% ownership, relocation to North Carolina, promise of US citizenship
and also exemption from local and Federal tax in the US. He is offering to
meet the highest offer price less 12% to reflect the US locations/ benefits.

He has an American accent and he also wears dark glasses in doors. He

claims it is because he has weak eyes. Emma thinks he works for the CIA
or US Homeland Security or some other US Government Agency.
 Internal Memorandum

Other Potential Players

 Nissin Foods - with its massive reputation as the world’s leader in instant ramen noodles, this
is a strong contender for an outright purchase.
 Temasek - the Singapore Sovereign Wealth Fund. They would be a cautious owner and not
particularly hands off.
 MegaPharma - this company recently raised the price of proprietary drugs 600% last year.
The owner is a Trump enthusiast and will see SB as a glamour project. He has serious money
although his ethics is a bit suspect.
 Global Minerals Proprietary - an aggressive mining combine that has no real interest in
foods or health products but owns about 20% of the world’s feldspar production. Rumour
has it that the company is in trouble as its mines are not run safely and their workforce is
strike prone.
 Capitol Carps – this is a football team in India owned by a media mogul who wants to link
sports with nutrition. He has no real idea why he is bidding for SB Agrinutrition but since he
hates Frank Delany and so wants to spoil Delany’s plan.

Current Ownership of SB AgriNutrition

Andrea Wang 14% NUT Park 10%

Emma 14% WeberKäseTek 6%

Chat 14%

Juliette 14% total: 100%

Marcus-Lucas 14%

Stefan 14%
 Internal Memorandum

Colleagues,

My friend was not able to send us the rest of the Banco IKDS Bank report, so we
need to work the rest out ourselves.

The situation is as follows, we have been asked (together with 3 of our competitors)
to develop a strategy for them to go forward when they meet with their investors in
June 2018. We need to cover the general strategic plan forward.

These investors are the “other players” listed in the IKDS Bank report - if our
proposal is accepted, then we are likely to be retained for the marketing and PR
work, the losing teams will get paid for 3 months of consultancy. So don’t mess up.

Use current newspapers and internet data to help you – if necessary we will use the
exchange rates of Monday 2/1/2018 as our reference. Let current events guide our
approach.

The Other Players may contact you as SB has told them about us and the other
consultancies.

Don’t forget, we need the work coming in later this year and next year or there may
be redundancies.

Good luck, call me if you need me- I am in Stockholm advising a bank, but you can
try and contact me.
 Internal Memorandum
Colleagues

I have been contacted by the investors and other people and I have attached their
messages to us as a consulting house.

Have a good read through and see whether these are of real value.

Oh yes, I checked out with the Prof (the guy who won the Nobel Prize a few years back),
SB is legit, none of the VW/ Uber messing around with them. We can safely assume there
aren’t any skeletons in their cupboard.

Oh yes, the Swedish bankers are a hoot... we are going to the Arctic Circle to look at
investment opportunities for the Sami people. I think it is a nice trip out to the
wilderness.

Work hard - guys, the company’s future depends on you.

 Internal Memorandum

Message from Tom Askew

Ladies and Gentlemen, I think you need to understand how important this invention is for
Europe.

We are not just talking about saving lives, which it will do, but also to push European food
technology to the top of the world and maintain the global lead. It will lead to more investment
in Europe, more jobs and a more prosperous future for all of us.

I want you to think clearly before recommending the “get-rich-quick” offers, there is no short cut
to long term prosperity for the entire continent - we must keep this technology in Europe.

I think you should consider alerting the SB team to the benefits of the NUT Park - we nurtured
them, we helped them grow, we supported them with our efforts and our time, we want them to
stay here and set up a factory in our town, to reward the people who welcomed them to our
community. We own 10% of SB and we will exercise our vote carefully in view of our
commitments.

Unlike many others, we do not have the money to entice them to stay, we do not have the
promises of riches untold from venture capitalists and from sovereign wealth funds. We offer the
support and friendship of a community of practitioners. The SB team have a duty to stay and help
other small teams bring their ideas into success - just like we helped them.

Now, while we do not have any new money to offer the SB team, we do have influence with the
Governments of France and Germany and they are prepared to make significant offers to the
team - in terms of special low corporation tax rate near the Irish level for 10 years. I think the two
Governments are also willing to expand NUT Park to include an industrial annex so that SB can
build a bespoke factory here - the Governments are happy to consider a special purpose vehicle
to avoid the EU’s State Aid Rules.

There is another subject I wanted to raise with you, which is entirely separate from the SB
project. NUT Park is in the process of expanding its portfolio of offering to local small businesses
and start-ups. I think your Consultancy company is a good fit for us and I would like to see us
develop a partnership to explore that. This can mean an extended work stream for your
Consultancy for the next 4-5 years. Of course, I cannot make any promises as it will be a public
tender, but if we are assured of your capabilities as a partner to NUT Park, I’m sure that will
shape our opinion significantly.

So I think all in all, the package I am suggesting you propose to the New Cardio team is a winning
package for everyone.

I wish you every success in your presentation.

Tom Askew
CEO NU Technology Park
 Internal Memorandum

Message from Sabina

Dear Colleagues,

We are all in the same business - to help SB develop the best future for its inventors
and to bring the most benefits to people of the world.

However, I can see a lot of problems and barriers ahead for SB. They are very good
scientists and engineers, but they are not too experienced in business and in
particular, business finance and legal matters. I say this because I have seen many other brilliant
young teams make the wrong choice and their great ideas become buried in history.

I think we all agree that the SB team are a group of very likeable young people, but they need more
than just advice- they need the strength of a major healthcare group to help them grow. Think about
a young tree - to grown strong it needs protection and special attention - which only a company that
cares about people and product development can give. Venture capitalist and sovereign wealth funds
are only interested in exploitation of the technology for gains - we are interested in using the
technology to help people live better.

There are many whispers about how our company will take over the new technology through a joint
venture and edge out the original inventors. I will be honest with you- I had the same fears myself. I
worry whether our corporate people and systems will overwhelm the SB team. In fact I told our CEO
that I am not interested in this project because of these fears. Well, I subsequently had three meetings
with her who assured me repeatedly that there is nothing but an honest partnership on offer. We also
met with the head of the Works Council to get his agreement to this too. Yes, you may have heard
stories about this gentleman in the newspapers, but let me assure you that they are entirely untrue -
he is genuine and he is sincere. He promised me that the Works Council will throw their support
behind this joint venture. So you see, the entire company is supporting this joint venture.

We are offering an upfront 90M€ as our contribution for the joint venture as well as offering free
factory space and our logistics and legal teams. We have factories in all EU and a few EFA countries.
We also have adequate power supply for the SB plant at all our factory sites.

Our world is one of business and we know that many of the other parties have made offers to you, the
consultants, about the rewards they can give you personally. We are an ethical company and we
certainly will not participate in this type of activities. However, we are always on the look out for good
consultants and our global family of companies needs good analysts and strategy partners. So who
knows, we may be working together soon.

Well, I know you are busy so I must let you get on with your jobs. But don’t forget, we are on the same
side - we want the people of world to get this technology quickly and avoiding all the litigation that
we are expecting will come from the USA.

Sincerely

Sabina Becker
Anglo-Dutch Healthcare Conglomerate
 Internal Memorandum

Message from Claude DuBois

Dear Consultants,

I am so very glad you are working with the SB team, we have heard of your consultancy
and we think you will do an excellent job.

The new French Government has a distinct interest in supporting European food
technology - we always want Europe to be at the forefront of world technology and this project is no
exception. My Department has allocated sufficient funding for a Government-backed initiative, together
with the German Government, for a special purpose vehicle to give SB a strong start.

In further discussions with one of the owners, Emma, and also with Professor Askew, we have come to an
agreement in principle: the French Government prepared an alternative package which may also be of interest
to you- however, I must state this is confidential and still at an advance state of discussion.

The special proposal from France is envisaged to be as follows:

 SB register in France as a French company.
 The French Government will declare SB as a strategic technology for France. This provides protection
from foreign venture capitalists and Euro rules.
 There will be a tax free period of 15 years if the company and its factory are both based in
France.
 The French Government will take a 35% share of the company and this will be governed by an
appointed panel of experts.
 The company will be nurtured with the full support of the state for a period of 10 years.
 After 10 years, the French Government will have the right of selling its shares.

For the owners of SB, we envisage each will receive an award of the Légion d’Honneur in about 4 years for
service to France.

We also believe that your director, the principal consultant of your bureau has served France well and she too
shall be considered for the Légion in a few years.

The French Government is constantly looking for bright young consultants to help us in strategic policy
development and we will, of course, be considering your team for such future projects.

Please contact my secretariat if you require further information. I look forward to seeing your presentation.

Sincerely yours

Claude
 Internal Memorandum

Message from Frank Delany

Sir/ Madam,

We are all very busy people, so I will not be wasting your time and mine with
needless small talk. My offer to the owners of SB is the most realistic offer they
will receive.

Delany Assets will form an investment vehicle, based on the Bahamas, to own
25% of SB and in return each of the owners will receive an initial sum of US $56M cash each. We
will assume all the risks of the venture with a view to an Initial Public Offering (IPO) within 5 years.
I envisage that the share of each of the main owners will be in the region of US$ 1-2Billion.

We understand there are minority shareholders: WeberKäseTek and the NUT Park. Well, I am
prepared to make a fair offer for WeberKäseTek’s share or buy the company outright. Similarly, I
have prepared an investment package for NUT Park that Tom Askew cannot turn down.

We have had discussions with a specialist technology partner who will look after the production
and global marketing of this product. They assured me that they can sort out the power
requirements.

For each of you on the Consultancy team, a successful advocacy for my proposal will net each of
you individually US$50,000. I will also speak to the Chairman of McKinsey & Co to arrange for
interviews for each of you.

I think you will see that this is the best deal for the main owners of SB and for you, the consultants.
Thank you for your attention and I wish you very success in your presentation.

Tom Delany
 Internal Memorandum

Message from Erik Weber

Dear Friends,

Together we worked on the prototype and through the trials, the SB team are now like my own Stefan - I see
them as part of my family.

As a parent of SB, you can understand my concerns that they get the best advice from their excellent
consultants.

I would like to offer you my advice on the decision for SB. The SuperBanana is an incredible product that will
not only save lives but also restore the position of Europe as the pinnacle of technology but also establish
Germany as the world’s top manufacturing nation.

Producing the SuperBanana completely at WeberKäseTek is unrealistic as we are only a small company, but
together, we of the Mittelstand form a mighty industrial conglomerate. May I suggest this to you:

WeberKäseTek, together with a network of similar high tech food companies in Germany (yes our
competitors, but this product is so important that we must put the country first), form a SuperBanana
confederation and divide the production between us. We can easily satisfy the world’s demand that
way and also avoid the problems you will get from venture capitalists, the Governments and the EU.

Through consultation with the lander Government and a consortium of banks, we offer investment of
the median offer plus 10% and including funding for a non-nuclear/ renewable power plant.

There is more at stake than just keeping production in Germany - this product will attract youngsters into
engineering and strengthen our industrial base as well as provide high quality and well-paying jobs for
Germans. I have discussed this with fellow manufacturers and we believe the overall employment effect
through a totally German supply chain is in the order of about 1 million people in 5 years. Our national
unemployment is currently 1.57M (Dec 2017) - and you can see how important this project is for Germany.

This is the only choice for SB AgriNutrition- work with a confederation of engineering companies in Germany
and we will make a great product for the world.

On a different issue, I understand from whispers that your consultancy is looking for projects, please ask your
director to come and see me, I know many small companies that can use your help and will be happy to pass
your name along.

Do the right thing during your presentation, you will not regret it nor will SB.

Good luck.

Erik Weber
 Internal Memorandum

Message from Han Foo

Dear Consultants,

Firstly, may I congratulate you on being offered this prestigious assignment. I

met with your director a few years ago and was very impressed with your team.
I am sure you will do an excellent job.

China is a growing country and although the press speaks of the great wealth, unfortunately that is
not true. Our country has plenty of poor people and we have a concern about food security.
Although the lifestyles of the Chinese people are changing, not necessarily for healthier, and this is
where I believe the SuperBanana can help - it can put the right nutrition into basic foodstuffs which
allows everyone to eat well and healthily. We can also reduce the incidences of cardiovascular
diseases and I am concerned that my fellow citizens will suffer if we do not manage to produce the
SuperBanana available at a reasonable price which I envisage to be about 10p/12p/13p respectively
for the SuperBanana; SuperBanana+nutrients; and the SuperBanana+nutrients and logo. This is
for batches of 1 million.

My company also wants to work with SB AgriNutrition to bring this wonder product for the poorer
countries of the world. You know people are going short on food all over the world, and together we
can fix this and make the world a better place.

There are ugly rumours that intellectual property will leak if SB works with Han Yo Premier Foods.
This is simply not true, you can ask Marcus, who worked with us previously. We are now working
with the Chinese Government’s minister in the National Security in Foodstuffs department and he
assured me that all the workers will be triple screened to prevent these problems.

We can help SB AgriNutrition to produce the SuperBanana in China, up to 100 million units in the
first 18 months and then ramping up to about 230 million over 36 months. We have land and
capacity as well as loan guarantees from the National Oil and Grains Bank of China, backed by both
national and local governments. We can form a joint-venture with Han Yo Premier Foods but it is
still SB AgriNutrition’s company and the co-production is a means to get around Government rules
of foreign investment. As for raw materials, we have good relations with Kirin Feldspar, the people
who make the world’s best feldspar, your raw material. We have been working with them for over
20 years and I can assure you of their reliability as a supply partner.

To show good way, my company will make a one-off investment in the co-production of €600M for
the majority owners of SB AgriNutrition. The co-production will be set up as a national strategic
industry and thence exempt the more onerous taxation. I think we will be very competitive with
any other tax jurisdiction in the world. Of course, the co-production can set up a tax shelter
company in the Bahamas if desired, there is no fear of the not getting the money.

However, the important point is not money but giving the masses of the world access to a
technology that will make people have better lives. My dear consultants, you hold the happiness of
these families around the world in your hands. Our production costs mean that even the poorest
countries can get access to this technology (did I mention that my Government can offer food aid
loans for poor countries to purchase new foods?)

On a different note, my chief technology officer told me that we need some consultancy advice on
our corporate strategy. Would your director be happy for your team to come and spend a week at
our corporate hot springs resort in South China? We can discuss business as well as enjoying a
well-earned break.

Han Foo
 Internal Memorandum

Message from Igor Maruff

Dear friends

I am interested in getting the best deal for SB AgriNutrition and I know you are busy
so I will get to the point.

My consortium will offer a package as follows:

 €1 billion to SB owners on signing the 10 year investment agreement
 €50 million a year to each of them for the next 10 years with an option to renegotiate afterwards
 the sovereign wealth fund will take a 51% ownership of the company and it will be based at the
Science City we are building in the Arabian coast
 The Government I represent will take care of all production, marketing and legal costs
 The inventors will be invited to carry on their research at the specially-built SB Research Centre at
the Science City

Now I understand that other parties have also made offers to you, so will I.

For your consultancy, I will make a commission of €30M if you deliver my proposal successfully. For each of
you on the team, you will get a fee of €1M individually. All of these will be via tax free jurisdictions in the W
Indies so none of you will have any tax liabilities.

You are all professionals and of course, you will think about the downside to refusing this offer - yes, of
course, there will be problems.

I am holding several patents that showed your inventors may have infringed prior intellectual property. We
are willing to see this through a lengthy court case and can stop any financial return for SB AgriNutrition
indefinitely. Even worse, I hear from some of my Russian friends that they know of some less savory
characters also hold a patent or two. These people are not what you would call respectable citizens but
they too occupy our world. I would not go around threatening to break your legs or worse if our proposal
is unsuccessful, but some of these people may.

So I think you need to think carefully how you choose to present your recommendations. I can ask my
friends to restraint their associates if they feel a fair proposal is made, otherwise, I can do nothing.

I look forward to you making the right decisions - I am not too bothered about how you come to the right
decisions- just make it happen and you will not regret it.

Igor
 Internal Memorandum

From: Stratt, Wilson, Wilson and Argieuur, attorneys at law

Dear Sirs,

We have been asked by a group who claimed that SB AgriNutrition have infringed the prior
Intellectual Property in the development of SuperBanana.

US Patent # 1 284 87234 : user interface switch protocol (your so-called Ultrawave)
US Patent # 883 83563 : power generator and regulation logic (your so-called PEPP generator)
US Patent # 679 74563 : software coding (for your so-called Ultrawave)

My clients understand that the product is one product that can save lives and therefore have no
intention of delaying its production and availability in the market. However, you can understand
that they are aggrieved that their intellectual property has been deployed without a licence.

I have been instructed to make the following offer:

 a one-off payment from your clients of U S$500M immediately followed by 15% of annual sales
for the duration of the 99 years (see notes 1, 1.2 1.3bi, 1.4 and 2 appended below)

If agreement is not reached with my clients by next week, they will refer this to court.

Thank you for your attention.

Stratt, Wilson, Wilson and Argieuur

 Internal Memorandum

From Mr S

Dear Consultants,
Congratulations on your selection by SB Agrinutrition. I know you are busy,
so I want to keep this short.

The world is a dangerous place and you know as well as I do that there are
geopolitical tensions that can readily result in catastrophes. Only the US can
maintain the world order that has brought prosperity to the people in the since the 1950s. My
sponsors are sympathetic to the views of the SB Agrinutrition team, but let’s be real here, they are
naïve and have no idea about the regional conflicts their ideas will bring. I am speaking frankly with
you because you are people with real experiences and an understanding of the affairs in the world.

My sponsors are US entities, and they have strong links to the various executive branches of the US
Government and its agencies. The offer they are suggesting has the support from the highest level
and I mean the highest, and the deal has already been agreed by all parties.

Only the US can offer the world best access to the SuperBanana product, we have the logistics to
deliver the product as a food aid, and we have the best marketing knowhow to make this product a
part of everybody’s life in the world.

The deal we are offering is the best – we have a political and judicial system that protects the rights of
the owners and therefore we can ensure that the labors and efforts put in by the talented team of
scientists and engineers are rewarded. I have been authorized to offer you the following:
 We will invest to own 75% of the company, matching the highest offer less 12% (pro rata)
because we also provide unmatched benefits as indicated below.
 Relocation the Durham Raleigh research triangle – provide intellectual stimulation as well as
a pleasant environment for work and residence
 Free land in the 48 states to set up factories and power plant
 We will provide workforce training
 US citizenship for the entire team (no green cards- straight to citizenships)
 We can arrange for exemption of both local and Federal taxes for a period of 15 years (we
need to agree before mid-term elections on Nov 6 2018)
 There will never be a threat of nationalization or public take over
 We also can help with creating a union-free working environment and we can deal with the
patent trolls.
 Absolutely no interference with the management by my sponsors.

I think you will agree with me that these benefits are unmatched by any of the other offers, and I
also want you to know that I can offer, in additional to the list above, contacts with various US
Government Agencies for government sponsored consultancy work for your organization too.

S
 Internal Memorandum

From Chen The-Zee, Investment advisor, Temasek Holdings

Dear Consultants

I am the senior investment advisor of Temasek, the investment company owned by the Singapore
Government. We wish to offer a most effective solution for SB AgriNutrition. As I know you are busy, I
will keep this brief, but you are welcomed to contact my office for further details.

1. We understand all manners of offers have been made to you including from lawyers and other
characters. Our company have had dealings with these parties and we have always been
successful in resolving the issue to our satisfaction.
2. We want to help you succeed and we can do that with the weight of our Government behind
us. I have spoken to our Prime Minister and he said this is an important product for the whole
world and Singapore will do its utmost help SB AgriNutrition succeed.
3. As such, Temasek will take 45% of the ownership of SB AgriNutrition and we will deal with
the all outstanding legal issues.
4. We would recommend that you have production in 6 global areas - Europe, N American, S
America, Africa, India and China. This way, everyone can be satisfied. We can also provide
start-up grants funding to the tune of 430M€ to set up the production and marketing facilities
plus €400M for the necessary power generating plant.
5. We will offer the owners €45M cash each for the inventors effective 2 months after Temasek
takes over its 45% ownership.
6. We have no demands on where SB AgriNutrition is registered, but with us, your clients have
the expertise of Temasek to refer to in all instances.

I wish you every success in your presentation and I hope to welcome SB AgriNutrition to the Temasek
family soon.

Chen The-Zee
 Internal Memorandum

From Tairo Mitsubashi, Nissin Foods

Esteemed Colleagues,

I want to congratulate you on being selected to advise SB

AgriNutrition. It is a major responsibility for your team.

As you may be aware, my company is a global leader in

convenience eating, we invented instant ramen noodles in
1958. We see the SuperBanana is a similar world-changing
product - a cold food to supplement our hot instant ramen
noodles. Our company therefore sees a synergy with SB
AgriNutrition as a natural partnership. Our ramen noodles
and the SuperBanana are designed to work with each
other.

In fact, we have designed a still secret SuperPot ramen specifically to work with the SuperBanana
and our new generation of Maxi NissinPot products (with XXL portions) already have a special apps
developed which we can interface with the SuperBanana,

We are thinking of an outright purchase of SB AgriNutrition and have that as a new division in Nissin
Healthful Foods. To this end, we envisage a new research laboratory established in Europe, perhaps
even on the NU Technology Park and the majority owners will be directors of this new division. Our
proposed purchase price is US$ 950M, which as you can see, is a very generous offer.

We understand that sometimes Governments will need to get involved with strategic assets such as
the SuperBanana , so we anticipate the concerns for the French and German governments both having
a share of the ownership, although our offer price will change to reflect this. However, the Japanese
Ministry of Economy, Trade and Industry is happy to conduct high-level ministerial talks with its
counterparts in Europe to resolve any issues.

Your clients will gain the global brand strength of Nissin and our excellent manufacturing
technologies to provide the SuperBanana in any quantity at a price that even less developed nations
can afford. We also believe that the research team will receive emeritus professorships at the
prestigious Nissin Institute of Technology in Japan and our Government may offer them membership
of the Order of Cultural Merit and a joint award of the Japan Prize.

While in communications with you, may I bring up an entirely different subject? Nissin Group is
always looking for partners to help us develop our strategy, and I would like to invite you and your
director to visit us in Tokyo next month to explore opportunities where your expertise can help us.

Also, dear consultants, I hear that your office canteen is closed for refurbishment. Please accept a
small token of 20 crates of assorted Nissin Ramen products as a sign of our respect. Our couriers will
be at your offices tomorrow morning to deliver this.

I wish you every success in your presentation.

Tairo Mitsubashi
 Internal Memorandum
From Phil Kaiser, owner of MegaPharma

Hi! I want you consultants to help me get SuperBanana to join the MegaPharma family.
SuperBanana and MegaPharma are made for each other and even the names are similar- it is
therefore predestined.

My company makes all kinds of drugs – from basic anti-biotics to the most modern type of cancer
drugs as well as specific anti-viral medicines. In fact, our Ebola vaccine is in advanced and in secret
testing, our H5N1 bird flu drugs are ready for market for the next Asian bird flu epidemic. We also
have a new gene-based cholera drug in advanced stages of development.

So how does SuperBanana fit into this picture? Well, many of these diseases take place in countries
of low levels of health and hygiene (you know, the countries our esteemed president called poor
and dirty), and the SuperBanana is a superb carrier for our medicines. We can make it and ship it to
strategic locations globally and store them in case of any outbreak of major diseases. I spoke to
Donald about this and we have the support of the White House to bring SuperBanana to
MegaPharma!

I know not all of the inventors are interested in making lots of money, but the potential is there –
together we can dictate drug prices and make more money than anyone can imagine. And the
inventors can then use the money to support the good causes they prefer.

I heard that there are some patent troll bothering them. Have no concern, my company has dealt
with these people many times over and you know what? We win ALL our cases in court. So rest
assured, MegaPharma will take care of the inventors.

Now what is our offer? Well, it is something so special no other investors can match. I am offering
the SuperBanana inventors $1B in cash and 10% of MegaPharma Europe BV shares (worth at least
€1B on Dec 1 2017) in return for a 100% of SuperBanana inventor’s shares. Yes, I know there are
minority owners, but I don’t care about those because with the inventors’ shares, MegaPharma will
have control of the company.

As for you consultants, if you are successful in steering SuperBanana my way, well, you will be
rewarded. Let’s say $100,000 to each of you as a minimum and another $250,000 to your company.

So you can see, together, SuperBanana and MegaPharma will prosper and will also save many
people from diseases and we will all get what we want.

I look forward to your presentation, recommend us and you will not regret it.

Phil
 Internal Memorandum
From Roseanna McKenna, Regional President, Global Minerals Proprietary

Dear Consultants,

Congratulations on being invited to explore investor options for SuperBanana. For a small
consultancy, this is a prestigious project indeed. I am writing to offer you help in carrying out your
analysis.

As you may know, the SuperBanana team found that feldspar is the most suitable feedstock for
their product and we are the leading global producer of feldspar. Our argument is that we have
extensive and rich mines in Italy, Turkey and Thailand and from the patent applications by the
inventors, I believe we can offer several grades of feldspar that can make the production more
efficient and reduce the heat outputs. Our Feldspar98 has the purity that the Ultrawave machine
prefers – we know because we supply this product during the lab tests. However, we now have a
new variant called Feldspar104S which we believe can cut the energy required by up to 20%.

We believe that the best way forward is to create a joint-venture company between us so that you
can have uninterrupted access to Feldspar104S. Yes, the Chinese have a version of feldspar they call
Kirin Feldspar but that after our tests, I have to say it is an inferior product compared to ours.

We can offer you Feldspar104S at cost from our mines and in a joint-venture the costs can be
written off as part of internal transfer. We can even provide the shipping although we would
recommend you actually establish a factory on the mine sites.

Our offer is as follows: we offer €100M (+50% cost of a new power plant- we reckon we will get the
rest from the European Union Regional Development Fund) to a joint-venture where we get the
rights to use the UWPG system for the duration of the joint-venture, we will take care of the
production, logistics, marketing as well negotiations with pharmaceutical or food companies for any
additives to be included.

I understand that our bid is not likely to be highest but we are industrialists with experience in doing
business globally, and we make sensible offers that are business viable to all the parties. We have
bought 37 companies globally over the last 4 years and we have placed our experienced
management in all of them and improved the return on investment for all of them by an average of
12.5%. Our business skills are unmatched in our sector.

Don’t forget, we also own the most suitable type of raw materials for SuperBanana.

Do contact me if you want more information, and by the way, please say hello to your chairman for
me – we know each other of old.

Your sincerely,

Roseanna McKenna
Regional President
Global Minerals Proprietary
 Internal Memorandum
From Anil Dutta, President, Capitol Carps Sports and
Leisure Omnimedia

Football and Hello Fellow Consultants,

AthleticsClub
Let me congratulate you guys in winning the contract to help


SuperBanana! It is good to win, I know, we have been
champions of our league for the last 5 years.

Now you may not think there is much between a very

successful football team and SuperBanana but you will be
wrong. The links are so many I cannot even list them all on 10
sheets of paper! But you are busy people and I have player negotiations to go to so I have to be brief.

I think having my winning team posing with SuperBananas would make a very good picture for the youths of
India and also all the other fans we have- do you know we have 68% of our State’s population are our
supporters? That’s nearly 50 million people! Can you image every one of those each people eating 1
SuperBanana at our matches? That 1.5 Billion SuperBananas just from our fans alone every year.

Now you may have heard that we are likely to lure Lionel Messi from Barcelona to come play for us? And also
we are in very secret talks with a certain star with the English champion team Chelsea. I cannot say more but
with these 2 in our winning team promoting the Capitol Carps SuperBanana, all India will be eating them,
that’s 1.3B every day!

I also heard that you have been approached by that roguish business man Frank Delany. I don’t know if you
know about this fellow, but he is a serial failure, he has missed out on every single big invention and do you
know why? It is because he is a hopeless business man. You do not want your clients to be working with him.
I will do you a favour, I will help your SuperBanana avoid the risks of a total failure by making sure that the
scientists are not mesmerized by Delany’s lies. How much is he offering you? $1B? $2B? I will offer $3B – half
in cash and half in Capitol Carps shares as 5-year share options – these are traded on the London stock
exchange.

Don’t worry about finding factories, I am very good chums with the Chief Minister of my State – did I tell you,
he is also a fan of my winning team one of our millions and millions of fans. My chum will make sure you get
the land you need for a factory and the Capitol Carps community college will train the technicians you need
for the factory and we can get the State to pay for a road to the port so you can get the products to any
overseas market. If you want to, I can even ask my chum about reduced taxes too but the decision needs to
be quick as State elections are coming around in mid 2018.

Can you image the smile on a child’s face when he peels open a banana and sees the Capitol Carps logo? He
will be the happiest boy in the world. We all wanted the little boys (and girls too, we have a Lady Carps team
too) to smile, don’t we?

Ever onwards to more victories, we can even print the pictures of the champions cup on the banana, and
make it a collectable.

Why don’t you consultant chaps come over to India for a week of research? I own 6 very good resort hotels
and I can even send my personal jet to collect you – all gratis of course.

Cheerio

Anil