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INTERNATIONAL ARBITRATIONOUR EXPERTISE AND EXPERIENCE

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INTERNATIONAL ARBITRATIONIn an increasingly globalized economy, business activities span national boundaries resulting in engagements among variously domiciled partners, competitors, individuals, and governmental entities. When disputes arise among these parties, they are often addressed through a process of international arbitration. Econ One staff has the economic expertise and industry experience to analyze and provide testimony on quantum issues related to complex commercial and investment treaty disputes adjudicated through international arbitration.

Econ One quantum experts combine advanced training in economics, finance, and statistics with many years of experience in adversarial proceedings – which are often extremely complex and entail high stakes for participants. Our capabilities include analyses for a variety of contractual and other commercial disputes, competition and antitrust issues, regulatory issues, and intellectual property disputes. We have opined on liability issues, provided business valuations, measured economic damages, and commented on analyses proffered by other experts. Our work is grounded soundly in the facts of each case and can withstand rigorous scrutiny.

Our quantum experts are also experienced in presenting research and analysis – via written and oral reports, depositions, and testimony – in clear and understandable terms. Econ One prides itself in analyses that are clearly and effectively communicated to all participants in arbitration proceedings. We explain economic theory, analysis and conclusions in straightforward terms easily understood by clients, attorneys, and arbitrators.

Econ One quantum experts have decades of experience in a wide variety of industries that are often the subject of international disputes including energy and natural resources, infrastructure and utilities, intellectual property, health care and pharmaceuticals, and banking and finance.

Our staff includes people from all over the world, including Armenia, Bulgaria, Chile, China, India, South Korea, Spain, and the United States. We believe our multi-national staff allows us to deliver better service to our clients through a deeper understanding of how business, economics, and institutions work in different parts of the world.

We have advised on issues adjudicated in a wide variety of dispute resolution forums, including the International Court of Arbitration of the International Chamber of Commerce (ICC), the International Centre for Settlement of Investment Disputes (ICSID), and ad hoc Special Tribunals.

Econ One’s international arbitration quantum experts are available to assist with your proceedings. They can be contacted through our website, www.econone.com.

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Littop Enterprises Limited, et al. v. Ukraine

Minority shareholders of Ukrnafta, a major Ukrainian oil and gas company, made multi-billion dollar claims against the State of Ukraine alleging the State expropriated the company’s natural gas delivered into the national gas transmission system. Econ One was retained by counsel for Littop to provide evidence concerning the Ukrainian gas market in the period from 2007 to 2019 and to estimate market prices for the expropriated natural gas during that time period. Dr. Jeffrey Leitzinger submitted expert reports and testified in a London hearing of The Arbitration Institute of the Stockholm Chamber of Commerce (SCC). This matter is ongoing.

Platinum Services Co. v. DP World

Egyptian labor staffing services and logistical support provider Platinum Services Co. filed claims against DP World, owner of Sokhna Port, alleging DP World damaged its reputation and induced its employee workforce to leave employment by publishing false or misleading information about the company. Econ One was retained by counsel for DP World to analyze and quantify damages to aid in the defense against the claimant’s damage analysis. Dr. Jeffrey Leitzinger submitted expert reports to a special tribunal. The matter settled favorably for DP World prior to the commencement of the arbitration hearing.

Adem Dogan v. Turkmenistan

A German national claimed damages from the Government of Turkmenistan, alleging illegal termination of rights to lease land for poultry farming and destruction of property. Econ One was retained by counsel for Turkmenistan to estimate lost cash flows to the claimant as a result of action taken by the respondent. Ms. Lisa McGuff prepared two expert reports and testified at an ICSID arbitration hearing in Paris. The award was not made public.

Mobil Corporation (U.S.), Venezuela Holdings B.V. (Netherlands), Mobil Cerro Negro Holding, Ltd (U.S.) and Mobil Venezolana de Petroleos Holding, Inc. (Bahamas) v. Bolivarian Republic of Venezuela

Econ One was retained by counsel for Venezuela to assist with the response to an arbitration initiated by the Mobil companies against the Venezuelan government. The claimants alleged expropriation of value, through changes in tax and royalty rates and new statutes requiring migration of oil and gas projects to majority ownership by state entities, that violated standards of fair and equitable treatment under international law. Dr. Jeffrey Leitzinger submitted expert reports regarding ICSID arbitration claims for compensation owed by Venezuela to the claimants for their interest in the Cerro Negro project. The tribunal determined an award. The matter is currently in resubmission proceedings initiated by the claimants.

ConocoPhillips Petrozuata B.V., ConocoPhillips Hamaca B.V., ConocoPhillips Gulf of Paria B.V., ConocoPhillips Company v. The Bolivarian Republic of Venezuela

Econ One was retained by counsel for Venezuela to assist in an ICSID arbitration initiated by the Conoco companies against the Venezuelan government. The claimants alleged expropriation of value, through changes in tax and royalty rates and new statutes requiring migration of oil and gas projects to majority ownership by state entities, that violated standards of fair and equitable treatment under international law. Dr. Jeffrey Leitzinger submitted expert reports and testified regarding claims for compensation owed by Venezuela to the Conoco companies for their interest in the Conoco projects.

SELECTED EXPERIENCE

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Polkomtel S.A. v. SiCap AG

Polkomtel, a leading telecommunications operator in Poland, claimed that German telecommunication solutions provider SiCap did not adequately fulfill its contractual obligation to provide the necessary software for Polkomtel’s wireless operations. Prior to joining Econ One, Dr. Atanu Saha was retained by counsel for Polkomtel to quantify the economic injury resulting from the non-functioning telecom software. Dr. Saha submitted several expert reports on quantum issues in the ICC arbitration. The matter settled favorably for the claimant prior to commencement of arbitration hearings.

Mobil Cerro Negro, Ltd. Claimant v. Petreleos de Venezuela, S.A. & PDVSA Cerro Negro, S.A.

Econ One was retained by counsel for PDVSA to assist in an ICC arbitration brought by Mobil Cerro Negro. The claimant alleged a breach of contract by PDVSA. Dr. Jeffrey Leitzinger and Mr. Barry Pulliam submitted expert reports in which they calculated compensation cash flows pursuant to the agreement. Dr. Leitzinger testified at the hearing on the matter. The tribunal issued an award.

The International Projects Development v. Oxbo Carbon & Minerals, et al.

The International Projects Development Company (“IPDCO”) was one of six companies that formed a consortium to bid for the right to develop a coke calciner plant in Kuwait. IPDCO asserted that it was wrongfully excluded from participation in the Petroleum Coke Industry Company, the entity that was awarded rights for plant development, and sought more than $250 million in compensation. Prior to joining Econ One, Dr. Atanu Saha was retained by counsel for the respondents to provide rebuttal quantum analysis. Based on expert reports provided by Dr. Saha, the ICC tribunal ruled that the claimant’s damages analysis was flawed and awarded zero damages.

RELATED EXPERIENCEEnergy, Natural Resources, Utilities & Infrastructure

Econ One economists have decades of experience in energy litigation and regulatory issues, with specialized expertise in the oil, natural gas, and electric power industries. We have analyzed markets, pricing, contract disputes, takings allegations, and the impact of regulation in nearly every segment of these industries. We have worked with natural resource owners, producers, consumers, utilities, and regulatory bodies to understand evolving energy markets. Representative projects include:

• Lyondell-CITGO Refining, L.P. v. Petroleos de Venezuela, S.A. and PDVSA-Petroleo, S.A.• Exxon Corp. USA v. Amerada Hess Pipeline Co., et al. • Federal Trade Commission v. BP Amoco, PLC & Atlantic Richfield Company• Petro-Hunt LLC v. The United States of America• State of Alaska v. BP Exploration Alaska, Inc.• Chevron USA v. State of Louisiana• Agrium Inc. v. Union Oil Company of California• In the Matter of ANS Royalty Litigation

SELECTED EXPERIENCE (CONTINUED)

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SELECTED EXPERIENCE (CONTINUED)

Health Care & Pharmaceuticals

Econ One economists and statisticians have extensive experience with pharmaceutical and health care markets. Combining economic expertise with in-depth industry knowledge, Econ One has provided economic and statistical analysis in a broad range of antitrust, contract dispute, false claims, and reimbursement matters. Econ One has extensive experience working with counsel for direct purchasers of various pharmaceuticals on generic delay cases such as pay-for-delay and product hopping, and in antitrust disputes over alleged monopolization in contract pricing and reimbursement for the provision of health care services. Representative projects include:

• Chiron Corporation v. Genentech, Inc.• Apotex Inc. and Apotex Corp. v. Sanofi-Aventis, et al.• Merck & Co., Inc. and AstraZeneca UK Ltd., et al. v. Apotex, Inc.• Johnson & Johnson v. Pfizer in Remicade litigation

• Genentech (Roche) v. Sandoz (Novartis) in Rituxin litigation

Financial Analysis and Valuation

Econ One has extensive experience analyzing cash flows of companies as well as financial market instruments to assess their value. Our analyses follow standard and accepted valuation approaches, including assessments of appraisal values, development of discounted cash flow models, assessments of risk, identification of industry trends, benchmarking comparable transactions, event study analysis, and discounting for marketability and ownership control. Representative projects include:

• County of Orange v. McGraw-Hill Companies, Inc., d/b/a Standard & Poors • BG Cantor v. Tullett Prebon — Arbitration regarding the use and value of a financial market data feed.• Amado Lopez v. Lehman Brothers et al. — Arbitration before NASD Panel; testimony regarding the valuation of bonds• Royal Ahold Securities Litigation

• American Express Travel Related Services Company, Inc. v. Visa U.S.A., Inc., et al.

Antitrust & Intellectual Property

Econ One consults on a wide array of antitrust matters, including price fixing, attempted monopolization, market power, loyalty discounts, predatory pricing, competitor exclusions, dealer restraint, tying and bundling, and Most Favored Nation clauses. We are also well versed in issues associated with intellectual property including determination of Fair, Reasonable and Non-Discriminatory (FRAND) royalties in standard-setting organizations, as well as false advertising, false and misleading statements, and unlawful, unfair, and fraudulent business practices. Representative projects include:

• BASF Corporation v. Lyondell Chemical Company• Masimo Corporation v. Tyco Health Care Group L.P. and Mallinckrodt, Incorporated• Qualcomm Inc. v. Compal Electronics, Inc., et al.• Ericsson Inc Inc, and Telefonaktiebolaget LMelefonaktiebolaget Ericsson v. TCL Communications Technology Holdings, LTD., TCT Mobile Limited and TCT Mobile (US), Inc.

• Ericsson Inc. and Telefonaktiebolaget LM Ericsson v. Apple Inc.

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Jeffrey Leitzinger — Managing Director — Los Angeles

Jeffrey Leitzinger is an expert in the economics of markets, pricing, competitive analysis, valuation, class certification and damages. Over nearly four decades now, he has participated in a number of high profile cases involving a wide range of industries including pharmaceuticals, transportation, oil and gas, and financial services. Dr. Leitzinger has extensive experience providing expert testimony in support of his research.

Atanu Saha — Managing Director — New York City

Atanu Saha has provided expert testimony in numerous matters involving complex business disputes and valuation over the past 25 years. He has provided expert testimony on behalf of both plaintiffs and defendants in various forums. He has over thirty peer-reviewed publications in the fields of applied economics and quantitative analysis. He has served as an expert in ICC disputes.

Lisa McGuff — Senior Economist — Houston

Lisa McGuff has been engaged in economic research and consulting for over 10 years. Ms. McGuff’s experience is largely focused on the energy industry including oil and gas, electricity, wind and electric vehicles. She has also served as an expert in cases related to the poultry industry, water rights, and franchising. Her experience includes valuation, pricing issues, forecasting, royalty issues, and statistical analysis. Ms. McGuff has served as an expert in arbitration matters in ICSID and AAA disputes as well as in State court.

QUANTUM EXPERTS

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QUANTUM EXPERTS (CONTINUED)

Michael Orlando — Managing Director — Denver

Michael Orlando is an expert on the economics of energy, with extensive experience in all facets of the oil and gas sector. He has worked as a petroleum engineer in industry, as an energy markets economist in the Federal Reserve System, and is currently a business school lecturer on corporate finance and political risk analysis. As a consulting economist, he advises firms on business and political strategy and quantum issues related to litigation and regulation, appears before regulatory bodies and has provided expert disclosure in Federal court.

Barry Pulliam — Managing Director — Los Angeles and Houston

Barry Pulliam has been engaged in economic research and consulting for 30 years. Mr. Pulliam’s experience covers a broad range of segments within the energy industry, including crude oil and natural gas production and exploration, refining, gas processing, marine and pipeline transportation, chemicals, and electric utilities. He has testified as an expert economist on numerous occasions in Federal and State court, arbitrations, legislative hearings, and in front of regulatory bodies.

Alex Rinaudo — Managing Director — New York City

Alex Rinaudo has over 15 years of experience in developing economic and financial analyses for complex commercial and regulatory disputes. An expert in valuation and securities, he has co-authored several peer-reviewed journal articles covering a range of finance topics, including development of a method to conduct intra-day event studies. He has provided valuation analyses for international business disputes, including several concerned with oil, natural gas, and gold interests.

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Econ One provides economic research and consulting on issues relating to markets, competition, regulation, and valuation. We offer in-house expertise in applied economic theory, econometrics, statistics, market strategies, large-scale project management, electronic data analysis and graphics.

Our focus is in providing high-value service to our clients. This means:

• Solutions that are well-conceived, meaningful, and well-presented

• Research that is accurate and thorough

• Analytical approaches solidly grounded in state-of-the-art economic methods

• Project management that ensures efficient use of resources and no unnecessary costs

• Experienced project teams that minimize learning time and false starts

Our experience includes:

• Antitrust & Competition • International Arbitration• Contract Disputes • Intellectual Property• Damages • Market and Regulatory Design• Employment Discrimination • Mergers & Acquisitions

Our strength is our staff—a diverse group of professionals combining an impressive set of academic credentials with years of experience in the arena of hands-on, practical economic research.

Econ One experts have testified in state and federal courts; administrative, legislative, and regulatoryagencies; and in arbitrations and mediations.

For more information, visit our website at www.econone.com.

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