SalesO Targeting “em ação”Targeting in actionEquities

Brazil

August 2009August 2009

Confidential Presentation

Table of ContentsAgenda

1. Leveraging Sell-Side Platforms

2. Case Studies

Leveraging Sell-Side Platforms

Leveraging Sell-Side Platforms

A focal point for market intelligence and strategic advisory

� Specialists provide objective market intelligence and advice to

corporates, while obtaining access for institutional investors

� Through intelligence gathered around the corporate access product,

actively engage appropriate internal partners

Providing Market

Intelligence

� Brokers are positioned to seek opportunities such as share buybacks

and capital market transactions, and to offer other capabilities

� Additionally, supported by a robust logistics team

� Research Sales are effectively a high-end RM team, interacting with

company management teams and investors, broadly, on a regular

basis

� The Sell Side teams come from industry, as well as Wall Street,

offering many years of relevant experience

Transaction-Focused

Public-Facing

offering many years of relevant experience

� Corporate access is a market-driven initiative, emerging from a key

trend showing that institutional investors are allocating an increasing

portion of their unbundled commission dollars to this service.

Offering Experience

Responding to

Market Demand

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A partnership basis to deliver results to corporations and investors

Pre-EventThoughtful preparation for

each event

EventEnhancing investor

relations strategies

Post-EventInsightful investor

feedback

� Offer companies

informed perspective

on the buyside and

likely topics for

discussion

� Craft a plan to reach

investors that can

satisfy corporate

� Conduct in-depth

shareholder analyses

to offer thoughtful

guidance regarding

investor targeting

� Assist Investor

Relations and

corporate

� Candid, timely,

confidential feedback

from investors to

assist informing

future messaging

and strategies

� Offer follow up where

appropriate across

business objectives management in

testing ideas and

business decisions

impacting

shareholders

Barclays Capital

franchise

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The evolution of Institutional Corporate Marketing

Enhanced market intelligence and broad origination that extends

into C-Suite advisory

Basic logistic services

and origination solely

from research analysts

Inner Circle Status

� A consistent dialogue

with

targeted corporates

� C-Suite thought

partners and trusted

advisors

� Integration across the

Firm to source unique

opportunities

Best in Class

Market Intelligence

� Broadest offering of

industry specific

market intelligence

� Leverage Barclays

Capital’s intellectual

resources

ICM Launched

� Flawless logistics*

� Top 3 in both

quantity and quality

of meetings

Basic Logistics

� Acceptable

logistics*

� 100% of corporates

receive feedback

� Consistent

experience

across global

regions

� “Middle of the

pack” event

volume

� <25% of the

companies

received feedback

*Barclays Events team is our execution arm

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Our Mission

To be recognized as a premier corporate To be recognized as a premier corporate

advisory platform on the market; we

seek to achieve trusted advisor status

with corporates and influence the

dialogue with the investment

community.community.

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Case Studies

Case Studies

Case Study #1 – The Dividends Deadlock

� Company X requested an

NDR to increase their

Dividend Funds

shareholders base

Situation Our Approach

� First, we looked at Company X dividend profile: a fixed,

minimum annual dividend, followed by one special dividend

that was quite erratic (and given Company X cash

generation, quite good as well, but still volatile) shareholders base generation, quite good as well, but still volatile)

� Second step was to check the trading pattern of the

company, not only the public database (volumes, etc) but

also our internal data, which contains accurate information

on who did what, when (we obviously don’t disclose it to the

company). We figured out there was a lot of speculation

around the special dividend season, with many players

trading that dividend itself

� Sales conducted extensive conversations with Dividend

� The plain vanilla

approach would be to

book a full schedule with

Dividend Funds

Typical Solution

Funds and, mostly, shareholders alike, to identify the issues

regarding the company dividend policy

� Research, on top of that information, analysed data and

came up with a NDR strategy

managers

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Case Studies

Case Study #1 – The Dividends Deadlock

Outcome

� A 7-day NDR was done, and the company, with our advice, concluded that the best

way to sell a consistent dividend policy to investors (and therefore to attract

Dividend Funds to its shareholders base) was to boost the fixed dividend, and

break the special dividend in 4 quarterly announcements

� It maintained the HF community interested in the special dividends play (in fact it

enhanced liquidity as it was spread throughout the year) and attracted a fair

number of Dividend Funds

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Case Studies

Case Study #2 – What To Do With Money Honey

� Company Y

approached us with a

question: what

Situation Our Approach

� Company Y had a serious time constraint in their

calendar, had limited time to be on the road

� We then made a multi-dimensional analysis of their

� The easiest

solution would

have been to hit

investors want them to

do with their excess

cashflow

� We then made a multi-dimensional analysis of their

existing account base, to meet the following criteria:

� Size of the position

� Relevance to the market

� Bias on the issue (they were under pressure by

some specific hedge funds to distribute the money)

� Investors that were not stock holders yet, but with a

strong edge in that sector were added to the list

Typical Solution

the road, and

have them

hearing random

answers

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Case Studies

Case Study #2 – What To Do With Money Honey

Outcome

� We organized a short, focused NDR

� Feedback from investors was collected throughout the NDR and afterwards, which

were presented to the company managementwere presented to the company management

� Management took both sets of feedbacks – the ones that they heard from

investors and the ones we collected, confidentially, afterwards, to their Board of

Directors

� On top of that, the company became more aggressive in their M&A strategy.

� That ultimately led to stock price appreciation and a broader shareholder base

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Case Studies

Case Study #3 – Whole Lotta Love

� Company Z wants to

acquire Company K,

which has a very

Situation Our Approach

� Company Z knew they could count on us to better

communicate their intentions to the market

� Our advice to Company Z was to communicate their fragmented

shareholder base

� Our advice to Company Z was to communicate their

intentions to the market; not only the fact that they

want to acquire Company K, but also, more

importantly, what they want to do with Company K -

and why that transaction make sense for

shareholders of both Company Z and Company K

� We organized a multi-month, multi-region extensive

NDR with 2 different teams for Company Z to meet

Company K’s shareholders

� Not much of

communication here:

launch a bid for

Company K and wait

Typical Solution

Company K’s shareholdersCompany K and wait

to see what happens

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Case Studies

Case Study #3 – Whole Lotta Love

Outcome

� The acquisitoin was a success, with huge support of Company K’s institutional

shareholders

� One year after the acquisition, another extensive NDR was conducted with the � One year after the acquisition, another extensive NDR was conducted with the

new, combined management

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Institutional Corporate Marketing – The Relationship Hub

Investors

Corporations

ResearchTrading

Sales

ICM

DerivativesBanking

Source: Barclays Capital Brazil

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