Strictly Confidential

1. “WaveSub - abundant renewable energy from ocean waves at a lower cost than offshore wind” Dr Gareth Stockman (Managing Director) www.marinepowersystems.co.uk Gareth@marinepowersystems.co.uk Tel: 07796 493 209 Strictly Confidential

2. Challenges of Wave Energy: Challenge • WaveSub Solution Energy Capture Waves are powerful but difficult to harness Exploits subsurface orbital flow for maximum energy capture Survivability The Ocean is an extremely harsh environment Device descends beneath storm waves and continues operation Transportation, Operation, Maintenance Must be quick to deploy, recover and service Device is its own transport and maintenance barge Capital Cost Device must be cheap to build vs power produced Simple to build – ‘off-the-shelf’ Never subjected to storm waves so can be manufactured at low cost No existing device meets all of these challenges!

3. Brief Overview of Progress to Date • Phase 1 • Proof of Concept: • Energy generation tests (NaREC) • Sea trials in Weymouth • Intellectual Property protected: • 3 main patents. Granted Australia/Africa • Pending US/China & Europe • Phase 2 • Computational modelling with world leaders: • Extensive simulation leading to accurate power capture and loading estimates • Cost of Energy Predictions: • All component, fabrication, installation, infrastructure & maintenance costs specified by independent industry experts • Carbon Trust methodology to predict LCoE • Phase 3 – Currently Ongoing • 1/30th Scale advanced prototype completed: • Currently undergoing tank testing • 1/4 Scale prototype: • Design, manufacture and ocean testing of ¼ scale device technically identical to full scale • Funding currently being sought

4. Marine Power Systems Ltd • Dr Gareth Stockman Managing Director • Overseen MPS in previous 2 phases • Experienced engineer and R&D manager • Dr Graham Foster – Technical Director • Raised over £4M private equity / grants to date • Track record of innovation and delivery • Max Carcas – Consultant – Business Development • Former Business Development Director, Pelamis • Tom Kahan – Finance Director • Chartered, ex Deloitte. • Angel Investors – Dr Ian Pearce & Justin Morris • Successful.com entrepreneurs and businessmen • Establishing an Expert Advisory Panel.

5. Marine Power Systems Ltd • Market Opportunity: • 2018 - First Commercial farm (5 devices, UK) • 2020 - 30 devices installed globally • 2030 - 3500 devices installed globally • 20% growth annually through 2030 – 2040 Investment to date: £300K Source: - Grant Funding £200k - Private Investment £100k Next Steps: - Complete wave tank testing of 1/30th scale prototype (manufacturing complete) - Secure private investment to match fund large grant from the Welsh Government - Finalise design, manufacture and test ¼ scale prototype at FaBTest (Falmouth) - Expand internal team on raising investment Projected Exits 2015 – circa 5x Multiplier: on demonstration of ¼ scale prototype 2017 – circa 10x Multiplier: on testing of full scale demonstrator • Ask: • Short-term requirement - £150K to finalise the 1/30th scale prototype testing. • Medium-term requirement - £2m to match fund £1m grant.