RUC:20521886448Av. Los Fresnos Mz. H Lote 2, Lurín Lima - Perú www.iasacorp.com

IASACORP INTERNATIONAL S.A.TELEF: (511) 211-0808FAX : (511) 211-0809

CHANGING AND GROWING UP AS TEAM

By: Rafael del Aguila

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You have just participated in an important meeting with your superior. How will you ensure that every part of the instructions you received will properly reach all subordinates, suppliers and clients, located in different parts of the world?

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I started in IASACORP International in March 10th of 2010, and duringmy first meeting I received from my boss the mission and of course theauthority to transform a family business into a corporation with aunique style, strong processes and an organizational perspectivetowards innovation. In order to do this, the first question that I askedmyself was: do I start from zero and hire new people who can help meto lead the change, or work in the existing scenario trying to maintainthe values from the people who were there and showing them a newpath. Finally I decided for the second choice and two years since then Iconsider that to have been the better decision.

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IASACORP 2010:I found a company with great people, probably not highlyeducated, but with so much motivation and expectation tosucceed as a major Latin American corporation. At that timewe had operations in Chile and Colombia but they wereworking independently of the headquarters in Lima. The firstlogical step was training our employees in corporate culture.

Me!

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After I presented the Human Resources Strategy and theimplementation schedule I received the approval from all themembers of the executive board. Later in 2010 we developedour first Organizational Culture workshop for all the employeesin the company, and since then we have conducted one everyquarter.

Starting thechange

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In the next quarter we held our first institutional event inviting entrepreneurs who could present their path to success.

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IASACORP 2011After the success and good employee reception of the strategy, wedecided to work in the key processes of the company. Firstly wefocused on breaking the communication barriers, creating acommercial reporting position for Chile and Colombia, and involvingthese new positions in the kick off of our main processes likebudget construction, presentation of new projects for 2011 and theassignment of personal business objectives for the companyleaders.

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At that time we had the whole company motivated and with clearobjectives. However, we felt that something was missing, so in thePorter context of competitiveness we saw the necessity to get ourmain stakeholders, suppliers and area leaders from Chile andColombia more engaged. To accomplish this goal we developed asecond and improved event with the clear objective of reinforcingour new corporate culture.

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In the same year we saw the results and the main stakeholdersstarted to see IASACORP in a different perspective. We beganselling the franchise in Ecuador and Venezuela complete with asolid business plan that included expansion to the Mexicanmarket. In an interview for the most renowned businessmagazine in Peru, our CFO explained the financial perspectiveand I the corporative perspective.

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Why Aureos?

IASACORP 2012For this year we already have consolidated our leadership in the region.

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WHOLESALE AND CORPORATE BUSINESS

Financial Performance

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5,000

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2008 2009 2010 2011e

USD k POSRevenue EBITDA POS

•2011e Same Store Sales of 25% •Annual Growth Rate of EBITDA 2009, 2011 of 58%

Environmental Awareness

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Eco friendly: Go! Intranet

In order to safe budget in printing and to follow the Green Culture, we

are now working all HR processes throug the Intranet like reports &

digital files.

IASACORP Recycling Culture

IASACORP is very worried about the enviroment,. We are working on a recycling culture every

day accross the company, making our people conscious of the impact about this matter.

Social and Governance

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Vocational Orientation Program with Schools

Christmas Campaign: Sponsor a Child

Further growing the Company

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Challenges

• Increase company value, despite financial risk and uncertain global economy

• Keep gross margin, even if suppliers increase prices.

• Increase revenue in function of the income per person in LATAM.

• Accomplish operational excellence efficiently managing regional growth

without losing control of the business and maximizing the value of the

company

• Retain the key positions.

• Create value of our regional brands to be a benchmark and allow us to

venture into new categories with success.

Further growing the Company

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Action plan

Growth

• Revenues 2014 of 100 USD Millions

• EBITDA 2014 of 14 USD Millions

• IPO 2015

• 555 POS at the end of 2014

• Consolidate Operation in Peru , Chile , Colombia and franchises in

Venezuela and Ecuador

• Open Do it! in Mexico and other economies.

• Develop the E-Commerce Sales Channel

• Scale economy

• Develop a Performance Talent Management System

• Consolidate an excellent Labor Climate trough our 4Hs Model

(Heart, Head, Happiness and Health)

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Why Aureos?

IASACORP 2012

I believe that the company is different now, because we are a team who has commitment, innovation, perspective, employee input and better communication, but the most important thing probably is that for us, the job is always a pleasure. Mission Accomplished.