Assessment

Proven track record in optimizing capital structure design to maximize tangible value creation.

Proprietary CAPSIS-Capital Structure Integrated Strategy ® methodology through decades of experience.

Corporate & Finance Strategy;

Reorganization, Transformation & Restructuring;

Capital Structure, Corporate Risk management & Capital Allocation Decisions;

Growth Strategy;

Corporate Preparation for Strategic Moves (IPO, M&A);

Value Creation M&A (Sell, Spin-off, Merge);

Value Creation Acquisition Strategy and Settlement (LBO & Others);

Crisis Management & Negotiations;

Entrance in Brazilian Market; *

Expansion in Brazilian Market Assessments (Strategy, Network, Partnerships).*

* Dedicated to international clients.

Core Values

Our Principles
I
PURPOSE

Corporate finance is a toolbox to create value and makethe world a better place;

ii
EXPERTISE

Knowledge and experience is never enough;

iii
CREATIVITY

Creativity is the ability to make knowledge useful;

iv
COMMITMENT

Time is our most precious asset;

v
HANDS-ON

Complex questions demands simple andsophisticated, but never simplistic answers;

VI
TRANSPARENCY

Intellectual honesty is always the best service;

VII
ETHICS

Ethics and principles are not negotiable;

VIII
DIFFERENCE

We never go to parties we have not been invited to;

ix
HONESTY

Only charge when we honestly believe we have createdvalue for the client;

x
CLIENT FOCUS

Unimplemented advice is useless for the client.

Our way of doing
Every client is unique:

Complex problems requirestailormade solutions.
Each corporate shouldseek its own strategiccompetitive advantages.

The capital structure strategy integrated as a component of the corporatestrategy is the most efficient route to preserve and align shareholders returnswith a value creation strategy.

Understanding the difference

ACF VALUE CREATION M&A & ADVISORY
IB M&A & TRADITIONAL ADVISORY

Long-term relationship

Transactional relationship

M&A / Fundraising & Corporate Restructuring are just alternatives

M&A / fundraising & corporate restructuring are lines of product

Deep hands-on approach

Work based on “top level” information

Advice on operational value creation

Do not advise on operational assessments

Do not cover financial sponsors, no conflict of interest

Cover financial sponsors, possible conflicts of interest

Only work for few and selected clients

Work on as many transactions as possible, seeking the benefits of scale

Do not work as a broker

Preferably work on cases limited to “open bidding auctions”

Do partnerships with other advisors when it is in client’s interest.

Hardly work in partnership with other advisers.

clients that hire acf
CLIENTS THAT HIRE IB / TRADITIONAL ADVISORS

If you want a long-term oriented trusted advisor relationship

If you want a short-term transactional exchange

If you want a trusted advisor that will recommend the best strategy, even when itdoes not trigger any transaction success fee

If you do not want to hear different thoughts or strategies

If you want a critical and strategic approach, strengthening the client for all possiblefuture scenarios and not just for one kind of transaction

If you do not want a critical approach to the company as a whole and just want anadviser that “sells it as it is” for the best price possible

If you understand that a competitive bidding process is just one of many alternatives

If you just want a broker for a competitive bidding process based on price

If you understand the value of having singular focus and priority

If you do not see value in an exclusive advisory service, if you only want a broker todo a transaction at the cheapest brokerage fee possible

If you want an advisor who understands how strategic advice connects to yourcompany’s operations on-the-ground.

If you are not concerned that the party advising you on major actions does not havethe background to understand how your company operates on-the-ground.

Methodology Conceptual Framework

Alexander Corporate Finance has developed its own proprietary methodology on the corporate value creationcomponents.

It is protected by ©copyright and it is registered as CAPITAL STRUCTURE INTEGRATED STRATEGY - CAPSIS®

CORPORATE FINANCE ANOMALIES QUESTION LIST AS INSPIRATION

1

REAL WORLD FACTS

2

ECONOMICS THEORY

3

FINANCE THEORY

4

BUSINESS ADMINISTRATION ACADEMICS

5

CORPORATE FINANCE TECHNIQUES

6

CORPORATE FINANCE PREMISSES

7

LEGAL FRAMEWORK IMPACTS

I

BUSINESS AND CAPITAL VALUE CREATION ARE INTEGRATED

ii

IMPACTS ON CORPORATE AND EQUITY VALUE CREATION ARE TARGETS

iii

IT REQUIRES PERFECT ALIGNEMENT AMONG PARTIES

CAPSIS – General Road Map

Alexander Corporate Finance has developed its own proprietary methodology on the corporate value creationcomponents.

Click on the phase numbers to understand better

CORPORATE
As it was
1
CONSEPTUAL CAPSIS BENCHMARK
Long-term Competitive Equilibrium
Non-Economic Profit or Market Return
OPERATIONAL
Operational Competitive Advantage
2
Business Transformation
  • Operations
  • Capex/Opex
  • Working Capital
FRICTIONAL EFFECTS
Potential Impact on Capital Value
3
Frictional Effects Adjustments
  • Societary Structure and Organization
  • Governance
  • Communication
CAPITAL
Capital Structure Advantages and/or Disadvantages
4
Capital Structure Adjustments
  • Leverage
  • Sources of Capital
  • Debt Reprofile
  • Structured Finance
CORPORATE
Competitive Advantage
5
TRANSACTIONS
Origination & Negotiations
6
Strategic Moves
  • Divesting of Non-Core Assets
  • Business Spin-Offs
  • Strategic M&A
  • IPO
STRATEGIC TRANSACTION
Closing
7

CAPSIS – General Road Map

Alexander Corporate Finance has developed its own proprietary methodology on the corporate value creationcomponents.

It is protected by ©copyright and it is registered as CAPITAL STRUCTURE INTEGRATED STRATEGY - CAPSIS®

CORPORATE
As it was
1
CONSEPTUAL CAPSIS BENCHMARK
Long-term Competitive Equilibrium
Non-Economic Profit or Market Return
OPERATIONAL
Operational Competitive Advantage
2
Business Transformation
  • Operations
  • Capex/Opex
  • Working Capital
FRICTIONAL EFFECTS
Potential Impact on Capital Value
3
Frictional Effects Adjustments
  • Societary Structure and Organization
  • Governance
  • Communication
CAPITAL
Capital Structure Advantages and/or Disadvantages
4
Capital Structure Adjustments
  • Leverage
  • Sources of Capital
  • Debt Reprofile
  • Structured Finance
CORPORATE
Competitive Advantage
5
TRANSACTIONS
Origination & Negotiations
6
Strategic Moves
  • Divesting of Non-Core Assets
  • Business Spin-Offs
  • Strategic M&A
  • IPO
STRATEGIC TRANSACTION
Closing
7

CAPSIS – General Road Map

Alexander Corporate Finance has developed its own proprietary methodology on the corporate value creationcomponents.

Explore all the details of the methodology through an interactive tour

CORPORATE
As it was
1
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continue
CONSEPTUAL CAPSIS BENCHMARK
Long-term Competitive Equilibrium
Non-Economic Profit or Market Return
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START
OPERATIONAL
Operational Competitive Advantage
2
Business Transformation
  • Operations
  • Capex/Opex
  • Working Capital
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continue
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continue
FRICTIONAL EFFECTS
Potential Impact on Capital Value
3
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continue
Frictional Effects Adjustments
  • Societary Structure and Organization
  • Governance
  • Communication
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continue
CAPITAL
Capital Structure Advantages and/or Disadvantages
4
Capital Structure Adjustments
  • Leverage
  • Sources of Capital
  • Debt Reprofile
  • Structured Finance
CORPORATE
Competitive Advantage
5
TRANSACTIONS
Origination & Negotiations
6
Strategic Moves
  • Divesting of Non-Core Assets
  • Business Spin-Offs
  • Strategic M&A
  • IPO
STRATEGIC TRANSACTION
Closing
7

Founder

STEFAN ALEXANDER
CEO
Managing Partner

Mr. Alexander founded Alexander Corporate Finance (“Acf”) and serves as its CEO and Managing Partner since 2011

Mr. Alexander holds a B.S and an M.S. in Economics from PUC-Rio and hasattended several executive education programs at the most prestigious businessschools. He has lectured Applied Corporate Finance at the PUC-RIO EconomicsDepartment since 2018.

As Acf’s Managing Partner, Mr. Alexander has worked with several differentBrazilian and international companies in a diversified range of sectors andbusinesses.

Mr. Alexander is specialized in Financial Strategy, Corporate Governance,Strategy and Negotiation. On multiple, occasions Mr. Alexander had served aschairman, board member, advisory board member and managing committeecoordinator at various enterprises.

Mr. Alexander is the creator of Acf’s proprietary corporate finance strategymethodology: Capital Structure Integrated Strategy - Capsis ®