Presented To: IDFA Membership Presented By: Patrick McGuff Vice President Mast

2. Presented To: IDFA Membership Presented By: Patrick McGuff Vice President Masterleo 1/18/11 Invensys proprietary & confidential

3. Masterleo & Associates • Patrick Mc Guff • Executive Vice President & General Manager • Corporate offices based in Westerville, Ohio A suburb of Columbus, Ohio, United States • 40 years in existence > Focus Dairy & Food Clients • National/International Company • ISO 9001 Certified • Service Oriented & Customer Focused • Support Specialists in Dairy, Food Industries • Your Business Partner

4. What is Custody Transfer? A Custody Transfer flow meter, sometimes called a fiscal meter or billing meter, is a flow meter used to determine how much of a commodity changes hands in exchange for some monetary or financial consideration.

5. Custody Transfer … Who Controls It? In the US, Fiscal Metering is controlled by entities such as: NTEP (National Type Evaluation Program) which certifies custody transfer meters per NCWM (National Conference on Weights and Measures) Handbook 44.

6. Dairy Challenges Custody for Transfer Applications • For a long time, dairy operators have struggled with their inability to capture and analyze raw tonnage as it relates to actual on-site delivery/receipt of milk from the haulers. (Loss product referred to as “shrinkage”) • The processor “pays” back to the farmer on what is being delivered to the operating facility via the milk hauler. • The farmer/milk hauler have various degrees of measurement to “pre-determine” the amount of actual product they are delivering. Accuracy can vary by large amounts due to the level sophistication in place at the farm. • The challenge from the operator’s perspective has always been the validity of the hauler’s load and if in fact the quoted amount of raw product contained within the truck is accurate and consistent. Financial payments were often challenged due to “perceived” levels of accuracy.

7. Solution • Mass Flow Meter Certification for custody transfer application that can accurately read & measure the quantity of raw product being unloaded by the hauler. • Dairy Operators now have an accurate/repeatable method to verify delivery and off-loading of raw material into their facility. • Payments back to the farmer will now be based upon the reading-measurement-verification of raw product by the Mass Flow Meter – Foxboro CFT 50 which has INTEP National Certification & Approval for Custody Transfer with formal approval from a state regulatory agency (s). • Point of Reference: After 60 days, the dairy operator facility projects a savings of over $18,000 > West Virginia Operator 1ST installation – Feb. 2006. • Accuracy levels were required to be .02% of the accepted regulated standards as determined by NTEP on a national basis. Average accuracy rates have ranged from .002% of greater. in some actual testing solutions supervised by state regulatory agents. • Product application can be utilized with fluid milk, cream, juices, teas, and other related products.

8. Who Needs It? • Dairy Processing Plants • Ethanol/ Bio Fuels • Food and Beverages • Liquid Fertilizers • …Potentially any liquid transported by tank trucks, or rail cars….particularly when money changes hands

9. NTEP States

10. Acceptable Fluids & Solutions

11. IOM Custody Transfer Solution

12. Scale versus Foxboro CT System

13. The Foxboro Advantage • The CFT50 is the only coriolis system suitable to deal with the large amounts of entrained air that exist at the beginning and end of a truck off loading • Start and finish empty capability (important for milk applications) • Fast response time to deal with aggressive slugging • Better than scales, better than the competition, remarkable payback

14. Actual data collected over 13 loads 7683 pounds Delta truck vs Foxboro CT Load

15. United Dairy, Inc.Charleston, WV & Martin’s Ferry, OH “Milk is the basis of our business, and like any other business we need accurate accountability of raw materials, this is particularly critical in our business because of the variances in volumes from one truckload to the next.” “The Foxboro custody transfer solution proved to be just what we needed. We now have reliable, indisputable measurement of the milk we are receiving, which has resulted in substantial savings. And the system has paid for itself within 60 days.” -Tom McCombs, Director of Milk Procurement, United Dairy, Inc.

16. Michigan Milk Producers Association (MMPA), Ovid, MI “We put in a CFT50 Custody Transfer Solution on a trial basis” ... the CFT50 obtained the accuracies and two more Systems were purchased”... “plans to purchase additional systems are in place.” -Michigan Milk Producers/Shambaugh & Son (GDC)

17. Smith Dairy, Richmond, IN Purchased IOM Custody Transfer System with second System pending and one 3” CFS20 with 2” CFS20 for cream to follow. “No particular reason for the call only to say THANK-YOU for bringing this application to us. We have been more than pleased with the performance and cost savings since the installation of the meter. In addition, the haulers/drivers have embraced the concept and appears to be a "Win/Win" for all parties.” -Randy Young - Smith Dairy/Richmond, IN (Pending opportunity with Smith Ohio Dairy for identical systems.)

18. In Conclusion… The Foxboro Custody Transfer System: Offers rapid payback, usually within 6 months of implementation. Is ideal for fast transfer of milk from tank trucks, where a high volume of air accompanies the liquid transferred from the bottom of the trucks. In addition to gaining additional revenue by not overpaying, it saves thousands of dollars: On maintaining scales Otherwise lost to the inefficiencies and poor performance of traditional meters and conventional measurement devices. Installations have been certified in several states, including Ohio, Indiana, and West Virginia. The IOM Foxboro Measurements and Instruments Division is moving forward with installations in other states.

19. Questions?