There is a 33-point gap between global trust in multinational companies based in developed markets (76 percent) and those in emerging markets (43 percent). The inaugural 2013 Emerging Markets Supplement to the Edelman Trust Barometer explores the unique trust challenges facing companies headquartered in emerging markets, with particular focus on those based in BRIC countries. Learn more: http://edl.mn/17WUyOK

2. 2013 TRUST BAROMETER: EMERGING MARKETS SUPPLEMENT
2
GLOBAL
ONLINE SURVEY
IN NINE COUNTRIES
• 5,400 respondents
• Nine countries:
• Developed: U.S., U.K.,
Germany, France
• Emerging: China, India,
Indonesia, Mexico, South
Africa
INFORMED
PUBLICS
• 600 respondents in each country
• Ages 25-64
• College-educated
• In top 25% of household income
per age group in each country
• Report significant media
consumption and engagement in
business news and public policy
• 13 years of data

3. Indonesia 74
Mexico 82
China 74
India 81
US 62
UK 56
Germany 48
France 44
DISTRUSTERSTRUSTERSNEUTRALTRUST IN BUSINESS IN MAJORITY OF EMERGING MARKETS TRENDING UPWARD
3
Indonesia 77
Mexico 74
China 79
India 81
US 64
UK 56
Germany 52
France 55
South Africa 69
+3
-8
+5
No Change
+2
No Change
+4
+11
New
2013
Field date: Q4 2012
2013 Emerging
Markets Supplement
Field date: Q3 2013
8 MARKETAVERAGE: 56 8 MARKETAVERAGE: 65 9 MARKETAVERAGE: 67
2012
Field date: Q4 2011
Indonesia 78
Mexico 77
China 71
India 69
US 50
UK 38
Germany 34
France 28
HOW MUCH DO YOU TRUST BUSINESS IN GENERAL TO DO WHAT IS RIGHT
Q7. [Business in General] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-point scale where one means
that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics Ages 25-64

4. 2013
33 point gap between
developed and
emerging market trust
Brazil
China
France
Germany
India
Russia
UK
USA
20%
30%
40%
50%
60%
70%
80%
90%
2009 2010 2011 2012 2013
EMERGING MARKET HEADQUARTERED COMPANIES HAVE DECLINING TRUST
SINCE 2011
GLOBAL TRUST IN MULTINATIONAL COMPANIES (MNCs) HEADQUARTERED IN EACH COUNTRY
DEVELOPED MARKET
AVERAGE
EMERGING MARKET
AVERAGE
Now we would like to focus on global companies headquartered in specific countries. Please indicate how much you trust global companies headquartered in the following countries to
do what is right. Use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed
Publics Ages 25-64 in 20-country global total
# 2012 data is not available – a simple average has been used to show a trend

5. The 2013 Emerging Markets Supplement to the Edelman Trust Barometer
explores the following factors that may affect developed markets’ trust in
emerging market-based businesses, based on our hypotheses:
• Low brand familiarity: Respondents in developed markets are not
familiar with emerging market-based multinational corporations (MNCs).
• Sensitivity about the state: Developed markets perceive emerging
market-based businesses to have close ties with their national
governments, whom they do not trust.
• Tangible actions dominate: Perceived poor performance against
concrete trust-building actions (e.g., supply chain management, IP
protection, etc.) erodes trust.

6. THE STATE OF TRUST IN EMERGING
MARKETS

7. TRUST IN INSTITUTIONS: NGOs REIGN IN DEVELOPED MARKETS WHILE EMERGING MARKET
TRUST LANDSCAPE MORE DIVERSE
EMERGING VS. DEVELOPED MARKET NATIONAL TRUST IN INSTITUTIONS
7
EMERGING MARKETS
DEVELOPED MARKETS
50%
56%
80%
57%
39%
25%
48%
49%
39%
44%
77%
86%
81%
66%
51% 50% 50%
47%
51%
81% 79% 77%
74%
69%
64%
56% 55%
52%
73%
87%
59%
81%
66%
69%
63%
68%
61%
India China Indonesia Mexico S. Africa U.S. UK France Germany
BUSINESS
NGOSMEDIA
GOVERNMENT
Q7. [Business in General, Government in General, Media in General, NGOs] Below is a list of institutions. For each one, please indicate how much you trust that institution to do
what is right using a 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust)

8. 67%
81%
79%
77%
74%
69%
64%
56%
55%
52%
49%
56%
80%
57%
39%
25%
48% 49%
39%
44%
Total India China Indonesia Mexico South Africa US UK France Germany
BUSINESS HAS A TRUST ADVANTAGE OVER GOVERNMENT, EXCEPT IN CHINA
TRUST IN BUSINESS VS. GOVERNMENT
8
EMERGING MARKETS
DEVELOPED MARKETS
50%
BUSINESS GOVERNMENT
Q7. [Business in General and Government in General] Below is a list of institutions. For each one, please indicate how much you trust that institution to do what is right using a 9-
point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed Publics Ages 25-64

9. 50%
80%
78%
72% 72%
47% 45% 44% 43% 42% 40% 39%
Germany UK US France Brazil South
Africa
Russia India China Mexico Indonesia
9
DEVELOPED MARKET-BASED MNCs HAVE 33-POINT TRUST LEAD OVER MNCs
HEADQUARTERED IN EMERGING MARKETS
MOST TRUSTED NATIONAL IDENTITY FOR COMPANIES
Developed Markets 76% Emerging Markets 43%
Q8. [TRACKING] Now we would like to focus on global companies headquartered in specific countries. Please indicate how much you trust global companies
headquartered in the following countries to do what is right. Use the same 9-point scale where one means that you “do not trust them at all” and nine means that you
“trust them a great deal”. (Top 4 Box, Trust) Informed Publics Ages 25-64 in 9-country global total

10. 22%
46%
71%
23%
50%
64%
31%
55%
61%
24%
50%
83%
28%
48%
83%
50%
TRUST GAP: EMERGING MARKETS TRUST THEIR LOCALLY-BASED MNCs SIGNIFICANTLY
MORE THAN THE REST OF THE WORLD TRUSTS THOSE COMPANIES
TRUST RELATED TO COMPANIES’ NATIONAL IDENTITY
10
Indonesia-Based MNCs South Africa-Based
MNCs
India-Based MNCsChina-Based
MNCs
Mexico-Based MNCs
EMERGING TRUST IN
COUNTRY-BASED MNCs
NATIONAL TRUST IN
LOCALLY-BASED MNCs
DEVELOPED TRUST IN
COUNTRY-BASED MNCs
Q8. [TRACKING] Now we would like to focus on global companies headquartered in specific countries. Please indicate how much you trust global companies
headquartered in the following countries to do what is right. Use the same 9-point scale where one means that you “do not trust them at all” and nine means that you
“trust them a great deal”. (Top 4 Box, Trust) Informed Publics Ages 25-64

11. 11
CHINA- AND RUSSIA-BASED MNCs FACE LARGEST TRUST HURDLE IN DEVELOPED MARKETS
GERMANY MOST DISTRUSTFUL OF ALL BRIC HEADQUARTERED COMPANIES
TRUST RELATED TO COMPANIES’ NATIONAL IDENTITY
*January 2013 data
50%50%
China’s Trust in Chinese MNCs83%
Russia’s Trust in Russian MNCs*40%37%
19%
29%
26%
22%
50%
33%
61%
53%
Total Germany UK US France India South
Africa
Indonesia Mexico
Q8. [TRACKING] Now we would like to focus on global companies headquartered in specific countries. Please indicate how much you trust global companies
headquartered in the following countries to do what is right. Use the same 9-point scale where one means that you “do not trust them at all” and nine means that you
“trust them a great deal”. (Top 4 Box, Trust) Informed Publics Ages 25-64
44%
16%
25%
27%
24%
66%
83%
32%
65%
60%
Total Germany UK US France India China South
Africa
Indonesia Mexico

12. 12
INDIA AND BRAZIL-BASED BUSINESSES ENJOY SLIGHT TRUST ADVANTAGE IN THE WEST
SOUTH AFRICA A SURPRISING CHALLENGE FOR ALL BRIC-BASED MNCs
TRUST RELATED TO COMPANIES’ NATIONAL IDENTITY
*January 2013 data
50%50%
Brazil’s Trust in Brazil MNCs*60%
India’s Trust in India MNCs83%
47%
23%
32%
38% 38%
60%
76%
38%
55%
66%
Total Germany UK US France India China South
Africa
Indonesia Mexico
38%
21%
30%
35%
28%
61%
32%
50% 50%
Total Germany UK US France China South
Africa
Indonesia Mexico
Q8. [TRACKING] Now we would like to focus on global companies headquartered in specific countries. Please indicate how much you trust global companies
headquartered in the following countries to do what is right. Use the same 9-point scale where one means that you “do not trust them at all” and nine means that you
“trust them a great deal”. (Top 4 Box, Trust) Informed Publics Ages 25-64

13. TRUST ISSUES ACROSS INDUSTRIES FOR BRIC COMPANIES IN DEVELOPED MARKETS
13
HOW MUCH DO YOU TRUST BRIC MARKET-BASED COMPANIES IN THESE INDUSTRIES TO DO WHAT IS RIGHT?
13
EMERGING MARKETSDEVELOPED MARKETS
67%
68%
69%
71%
71%
72%
76%
77%
79%
84%
39%
31%
34%
44%
34%
40%
43%
47%
49%
54%
Food & Beverage
Pharmaceuticals
Media
Consumer Packaged Goods
Financial Services
Aerospace & Defense
Energy
Automotive
Telecommunications
Technology
Q11. [TRACKING] Please indicate how much you trust businesses in BRIC markets such as Brazil, Russia, India and China in each of the following industries to do what is
right. Use the same 9-point scale where one means that you “do not trust them at all” and nine means that you “trust them a great deal”. (Top 4 Box, Trust) Informed
Publics Ages 25-64

14. APPROXIMATELY TWO-THIRDS OF DEVELOPED MARKET RESPONDENTS REJECT DOMESTIC
INVESTMENT FROM COMPANIES BASED IN ANY GIVEN BRIC MARKET
14
62%
60%
60%
63%
30%
40%
38%
34%
Russia
Brazil
India
China
BUY A COMPANY IN YOUR COUNTRY
63%
63%
62%
63%
33%
43%
41%
36%
Russia
Brazil
India
China
BUY A MINORITY SHARE IN A
COMPANY IN YOUR COUNTRY
63%
63%
63%
65%
34%
43%
40%
38%
Russia
Brazil
India
China
MAKE A MAJOR INVESTMENT IN
A NEW PLANT OR OFFICE IN
YOUR COUNTRY
Q9. Please continue to think about global companies headquartered in specific emerging markets. How much would you trust a company from [INSERT BRIC COUNTRY] to
do what is right in the following investment situations? (Top 4 Box, Trust) Informed Publics Ages 25-64
HOW MUCH DO YOU TRUST A COMPANY BASED IN [BRIC] TO …
EMERGING MARKETSDEVELOPED MARKETS

15. LOW BRAND FAMILIARITY

16. 16
PROMPTED AWARENESS OF BRIC MARKET BRANDS BY MARKET
BRIC-BASED MNCs HAVE TO RAISE OVERSEAS AWARENESS; CONSUMER-FACING BRANDS
MAKING PROGRESS
50%
26%
9%
38%
11%
Petrobras Vale
72%
63%
54%
45%
70% 68%
63%
26%
89%
79%
87%
81%
Lenovo Air China Bank of China Haier
25%
36%
54%
23%
99% 98%
Tata Infosys
20%
30%
65%
23%
Gazprom Lukoil
50%
US EUROPE OWN MARKET
Q15. Below is a list of companies. Which are you aware of? SELECT ANY THAT APPLY. Informed Publics Ages 25-64 in US, Europe (France, Germany, UK) and own market

17. 14% 12% 10% 10%
5% 4% 3% 2%
0%
20%
40%
60%
80%
India* Russia China* Brazil
BRIC COMPANY CEOs HAVE LOW VISIBILITY GLOBALLY, ESPECIALLY IN
DEVELOPED MARKETS
17
UNPROMPTED AWARENESS OF BRIC MARKET COMPANY CEOs or CHAIRPERSONS BY MARKET
Top CEOs† Emerging Developed Emerging Developed Emerging Developed Emerging Developed
1 Ratan Tata
Tata
Ratan Tata
Tata
Alexey Miller
Gazprom
Alexey Miller
Gazprom
Yang Yuanqing
Lenovo
Yang Yuanqing
Lenovo
Maria das Graças
Silva Foster
Petrobras
Maria das Graças
Silva Foster
Petrobras
2
Naveen Jindal
Jindal Steel
Power Limited
N. R. Narayana
Murthy
Infosys
Oleg Deripaska
Basic Element
Company
Andrey Kostin
VTB Bank
Robin Li
Baidu
Hong Qi
Minsheng
Banking Corp
Murilo Pinto de
Oliveira Ferreira
Vale
Eike Batista
EBX Group
3
Mukesh Ambani
Reliance
Industries
Mukesh Ambani
Reliance
Industries
Andrey Kostin
VTB Bank
Oleg Deripaska
Basic Element
Company
Ren Zhengfei
Huawei
Fu Chengyu
Sinopec
Ricardo Semler
Semco SA
Murilo Pinto de
Oliveira Ferreira
Vale
*India: Emerging market data does not include Indian data; China: Emerging market data does not include Chinese data
†The top first-mentioned three CEOs by market
68% of Chinese can name a
Chinese HQ CEO
77% of Indians can name an
Indian HQ CEO
Level of
unprompted CEO
awareness in their
own country
EMERGING MARKETSDEVELOPED MARKETS
Q16. When you think of CEOS/Chairmen of companies from the following markets, which individuals first come to mind? [INSERT MARKET: CHINA, BRAZIL, INDIA, RUSSIA] (Respondents
answering with at least one current CEO/Chairman of a company headquartered in China/Brazil/India/Russia. Informed Publics Ages 25-64

18. SENSITIVITY ABOUT THE STATE

19. 50%
CHINA, RUSSIA-BASED COMPANIES SEEN AS HAVING “TOO MUCH” STATE CONTROL
19
% AGREE WITH STATEMENT: “THERE IS TOO MUCH GOVERNMENT CONTROL OF COMPANIES FROM [BRIC]” (TOP 2 BOX)
70%
64%
51%
47%
42%
23%
65%
58%
36%
43%
38%
21%
25%
60%
44%
25% 26%
16%
24%
41%
37%
24%
21%
15%
Germany India China UK US France
CHINA INDIA
RUSSIA BRAZIL
Q13. Please indicate how much you agree or disagree with the following statement: “There is too much government control of companies from [INSERT
MARKET: BRAZIL, INDIA, RUSSIA, CHINA]. (Top 2 Box – Strongly/Somewhat agree) Informed Publics Ages 25-64

20. DEVELOPED MARKETS DISTRUST ALL FORMS OF EMERGING MARKET-BASED
BUSINESSES, BUT STATE-OWNED BUSINESSES MOST DISTRUSTED
20
TRUST BY BUSINESS OWNERSHIP
20
77%
73%
71%
67%
50%
50%
45%
37%
Publicly Listed
Entrepreneur
Privately Owned
State Owned
EMERGING MARKETSDEVELOPED MARKETS
Q10. When you think about the following types of organizations in BRIC markets such as Brazil, Russia, India and China, how much do you trust each type of
organization to do what is right? (Top 4 Box, Trust) Informed Publics Ages 25-64

21. TANGIBLE ACTIONS DOMINATE

22. 59%
48%
50%
48%
58%
51%
50%
47%
48%
54%
52%
50%
49%
49%
58%
48%
65%
68%
68%
70%
72%
74%
75%
76%
77%
78%
80%
80%
81%
81%
82%
82%
CONSISTENT FINANCIAL RETURNS
TOP GLOBAL COMPANY
ADMIRED TOP LEADERSHIP
PARTNERS W/ 3RD PARTIES
INNOVATOR
POSITIVELY IMPACTS COMMUNITY
ADDRESSES SOCIETY'S NEEDS
PROTECTS ENVIRONMENT
CUSTOMERS BEFORE PROFITS
LISTENS TO CUSTOMERS
LOOKS AFTER EMPLOYEES
COMMUNICATES OFTEN
ACTS RESPONSIBLY IN CRISIS
IS ETHICAL
HIGH QUALITY PRODUCTS
TRANSPARENT & OPEN Importance
Performance
DEVELOPED MARKETS PERCEIVE A LARGE GAP IN EXPECTATIONS VS. PERFORMANCE ON KEY TRUST
BUILDING ATTRIBUTES FOR BRIC-BASED MNCS
STATED IMPORTANCE VS. COMPANY PERFORMANCE (TOP 4 BOX) – DEVELOPED MARKETS
-34
-24
-32
-32
-30
-28
-24
-29
-29
-25
-23
-14
-22
-18
-20
-6
Gap
Q16. How important is each of the following actions to building your TRUST in companies headquartered in [INSERT BRIC]? Use a nine-point scale where one means that action is “not at
all important to building your trust” and nine means it is “extremely important to building your trust” in a company. (Please select one response for each.) Q. 18 Please rate companies
headquartered in [INSERT BRIC] on how well you think they are performing on each of the following attributes. Use a nine-point scale where one means they are “performing extremely
poorly” and nine means they are “performing extremely well”. (Top 4 Box, Trust) Informed Publics, ages 25-64 (excluding “don’t know”)
22
INTEGRITYENGAGEMENT PURPOSEPRODUCTS & SERVICES OPERATIONS

23. 23
Importance
Performance
MORE EFFECTIVE EXECUTION AGAINST TANGIBLE ACTIONS BY BRIC BASED-MNCs
WILL HELP ESTABLISH HIGHER LEVELS OF TRUST WITHIN DEVELOPED MARKETS
TOP 10 BEHAVIORS TO BUILD TRUST IN BRIC HEADQUARTERED COMPANIES – DEVELOPED MARKET VIEW
RANKED BY IMPORTANCE
TOP 10 BEHAVIORS TO BUILD DEVELOPED MARKET
TRUST IN BRIC-BASED MNCS
GAP
IMPORTANCE VS. PERFORMANCE
1. Quality control -31
2. Protects customer data -32
3. Respects employee rights -35
4. Protects intellectual property -31
5. Responsible supply chain management -33
6. Pays appropriate taxes -28
7. Uses R&D -23
8. Independence from State -26
9. Makes CSR progress -27
10. Employs diverse workforce -22
Q17. How important are each of the following factors to building your TRUST in companies headquartered in [INSERT BRIC]? Use a nine-point scale where one means that action is “not at
all important to building your trust” and nine means it is “extremely important to building your trust” in a company. (Please select one response for each.) (Top 4 Box, Trust) Informed
Publics Ages 25-64

24. THE PATH FORWARD
FOR BRIC-BASED MNCs

25. 50%
CHINA INDIA
RUSSIA BRAZIL
59%
56%
72%
68%
44%
76% 75%
83%
80%
67%
71% 71%
80%
77%
63%62%
60%
76%
72%
45%
A Global CEO of a company
headquartered in this BRIC
market
A company executive from this
BRIC market-based MNC who is
based in your country
An academic or expert from this
BRIC market
A regular employee of this BRIC-
based MNC
A government leader (senior
official) from this BRIC market
25
EXPERTS AND EMPLOYEES ARE MOST CREDIBLE SPOKESPEOPLE FOR BRIC-BASED MNCs
WHEN COMMUNICATING IN DEVELOPED MARKETS
CREDIBILITY OF SPOKESPEOPLE FOR BRIC-BASED MNCs IN DEVELOPED MARKETS
Q22. [TRACKING] Below is a list of people. In general, when forming an opinion of a company, if you heard information about a company from each person,
how credible would the information be--extremely credible, very credible, somewhat credible, or not credible at all? (Top 2 Box, Very/ Extremely Credible)
Informed Publics Ages 25-64

26. EARNED MEDIA MOST TRUSTED SOURCE FOR NEWS ON BRIC-BASED COMPANIES
IN DEVELOPED MARKETS
EMERGING VS. DEVELOPED MARKET TRUST IN MEDIA FOR BRIC-BASED COMPANY NEWS
26
50%
36%
28%
26%
64%
58% 57%
EARNED MEDIA ADVERTISING OWNED MEDIA
Q21. How much do you trust each of the following media sources when you see or hear news, information or stories about a company headquartered in
[MARKET]? Please use a 9-point scale where one means that you "do not trust it at all" and nine means that you "trust it a great deal“(Top 4 Box, Trust) Informed
Publics Ages 25-64

27. RECOMMENDATIONS FOR PROMOTING BRIC HEADQUARTERED
COMPANIES OVERSEAS
27
• BUILD YOUR BRAND
• BE MORE PROACTIVE AND TRANSPARENT
• FOCUS ON ETHICAL BEHAVIORS
• USE EXPERTS AND EMPLOYEES AS SPOKESPERSONS, NOT CEO