Southern Cross Renewable Energy Fund Innovation Investment Fund

1. Southern CrossRenewable Energy FundInnovation Investment Fund 23rd May 2012

2. Southern Cross • One of Australia’s largest venture capital managers • Established 2006, $410m under management across 3 funds • Fund No.1 (2006) : $170m • Renewable energy Fund (2012) : $200m • IIF (2012) : $40m • The only Australia-US fund manager, with offices in Sydney and Silicon Valley • Investment team of 9, 70+ years VC experience • History of co-investment with leading offshore funds

3. The Southern Cross Model - Foundations Customers, Management, Capital, Exits Technology, Founders

4. The Southern Cross Model – Investment Team John Scull Larry Marshall Tristen Langley Frank Foster Bob Christiansen Bill Bartee Gareth Dando Mark Bonnar Jessica Fliegner

5. SXVP Portfolio Development Early Beta Late Beta Shipping Scaling

6. Networks – US / VC Co-Investors

7. Networks – Strategic Co-Investors

8. Renewable Energy Fund / Innovation Investment Fund • A truly international structure spanning Australia, the US and China through SXVP’s own on-the-ground presence plus • a Partnership with Softbank China VC, and • an Advisory Council of leading US cleantech VCs • A vision to link the best technology, teams and markets in Australia, the US and China

9. Renewable energy / cleantech :A pan-Pacific opportunity Customers, Management, Capital, Partners, Exits Customers, Management, Capital, Partners, Exits Technology, Founders, Gov’t support Customers Natural Resources

10. SXVP : A Bridge between Australia and US and China SXVP / SBCVC Offices SXVP / SBCVC Offices Silicon Valley Shanghai Beijing Sydney

11. “Classic” Founders create IP in Australia New company started locally Develop internationally by organically building management, sales and marketing etc overseas “2nd Generation” Combine best IP / founders / development capability from Australia and overseas Tap into existing overseas management / sales / marketing structures don’t always have to “re-invent the wheel” each time Create better, stronger companies quicker Flexible approach to commercialisation

12. Renewable Energy Fund • The primary objective of the REVC program is to provide venture capital and active investment management to encourage the development of Australian companies that are commercialising renewable energy technologies. The intended outcome is to develop and commercialise these technologies by: • increasing the number of Australian renewable energy and enabling technology companies that are successful in Australian and overseas markets; • fostering the skills and management capability of Australian renewable energy and enabling technology companies by providing active investment management; and • leveraging additional investment in Australian renewable energy technology and enabling companies from the private sector, including from international sources.

13. Renewable Energy Technologies • Renewable Energy Technologies are technologies that use, or enable the use of one or more renewable energy sources. This may include technologies that: • generate and/or supply energy, including hybrid systems; • provide a direct energy input for other uses, such as transport, heating, cooling, cogeneration and trigeneration; or • are otherwise associated with, or used in conjunction with, renewable energy technologies. • Where: • renewable energy sources are those that are generated from natural resources that can be constantly replenished; • hybrid systems are those that integrate renewable energy technologies with other energy generation systems; • enabling technologies and systems are those that enable renewable energy technologies to function more effectively. They may include resource assessments, new materials, nanotechnology, energy storage, integration systems, information and communication technologies, forecasting systems, control systems and fuel supply logistics;

14. REVC - Eligible Investments • An Australian Company (listed or unlisted); • Is (or will be) commercialising Renewable Energy Technologies; • At the time of first investment : • at seed, start-up or early expansion stage; • either : • A majority of employees and assets in Australia; OR • Will use all initial investment proceeds within Australia • average annual revenue <$20m • not an Associate of a company with revenue >$100m • Is not selling to its ‘Associates’

15. IIF- Eligible Investments • Broad range of sectors (not including Renewable Energy) • An Australian Company (listed or unlisted); • Is (or will be) commercialising R&D; • At the time of first investment : • at seed, start-up or early expansion stage; • either : • A majority of employees and assets in Australia; OR • Will use all initial investment proceeds within Australia • average annual revenue <$5m • not an Associate of a company with revenue >$5m • Is not selling to its ‘Associates’

16. The Southern Cross Approach • A vision to link the best technology, teams and markets in Australia, the US and China • Australian technology / IP / entrepreneurs / staff • US & Chinese management / staff / customers / technology / IP • Top quality US & Chinese co-investors • No pre-determined views on sectors / technologies • Large funds, with sufficient scale to make and support capital intensive investments • Up to $10-20m+ in stages over a company’s growth phase • A sufficiently long time horizon

17. Contact details www.sxvp.com http://ret.gov.au/energy/clean/acre/vcf/Pages/default.aspx investmentteam@sxvp.com