AIM: The World’s Most Successful Growth Market

1. AIM: The World’s Most Successful Growth Market

2. An overview • AIM is the London Stock Exchange’s market for smaller, growing companies. • A platform for companies to raise capital (at admission and through further fundraisings) to help them realise their growth potential, within a tailored and balanced regulatory framework • Provides an attractive exit route for earlier stage investors and enables them to “recycle” capital • Supports companies beyond financing, by providing an attractive platform for them to increase their profile and visibility with key stakeholders Key AIM statistics Market cap profile Number of companies • Median market cap = £19.6m Market value range Source: London Stock Exchange trade statistics – February 2011 NB: excludes 3 currently unvalued companies and 8 suspended companies

3. AIM is home to 1,178 companies with an aggregate market cap of £82.8 billion Source: London Stock Exchange trade statistics – February 2011

4. AIM supports international and UK companies Source: London Stock Exchange trade statistics – February 2011. Statistics are based on total number of companies admitted to AIM each year by incorporation

5. AIM enables companies to raise capital throughout their life on market (in £ billions) Source: London Stock Exchange trade statistics – February 2011

6. AIM covers an unparalleled range of sectors SECTORS REPRESENTED BY ALL AIM COMPANIES SECTORS BY MARKET VALUE (TOP 10 SECTORS REPRESENT 71% OF AIM) (TOP 10 SECTORS REPRESENT 76% OF AIM) Source: London Stock Exchange trade statistics – February 2011

7. AIM companies have operations across the globe from 95 countries 18 71 38 24 UK: 719 48 11 43 3 12 28 52 36 Number of companies 26 60 + 23 40-59 Other offshore: 11 Isle of Man & Channel Islands: 18 20-39 0-19 Source: London Stock Exchange trade statistics – February 2011 NB: Number of companies colour coded per grouping rather than country

8. AIM indices continue to perform well in 2011

9. AIM provides companies with an active secondary market Number of bargains (000’s) Value traded (£m) • Value traded in AIM securities has increased 277% between Q1 2010 and Q4 • Average liquidity levels across the £20-£250m market cap range remain better for AIM All-share companies than FTSE Small Cap & Fledgling companies • The FTSE AIM All Share was up 38% in the twelve month period to the end of February 2011 Source: London Stock Exchange trade statistics – February 2011

10. AIM provides companies with an active secondary market Average daily value traded as % of the market value of free float. Analysis shows median within each market cap range. Source: Bloomberg. Time period analysed July 2010 to January 2011

11. AIM provides access to the world’s leading institutional investors The investor base for AIM companies is both institutional and retail. The top 10 most influential institutions by value and number are: Source: GCI Institutional Investors in AIM survey 2010

12. AIM’s entry criteria are tailored for growing companies Nominated adviser (Nomad) required at all times Admission document approved by Nomad and is not pre-vetted by Exchange or UKLA No minimum size requirement No minimum financial history required No formal requirement for shares to be held in public hands Disclosure based rules support company growth with shareholder approval required for the most fundamental transactions Compliance with the AIM Rules for Companies

13. Continuing eligibility requirements facilitate growth and investor confidence AIM companies must retain a Nomad at all times, otherwise they will be suspended from the market AIM companies must disclose all price sensitive information in a timely manner including substantial transactions, related party transactions, reverse takeovers and other material matters Half yearly and annual report and accounts required All directors accept full responsibility, collectively and individually for complying with AIM Rules Restrictions on deals for directors and applicable employees on AIM securities during close periods UK Corporate Governance standards adopted by companies as best practice AIM companies must maintain a website displaying key investor information

14. AIM – looking to the future Ensure that AIM continues to be the market of choice for companies and investors Drive the growth of AIM in partnership with market participants Extend the visibility of AIM companies and develop liquidity through extensive lobbying work and new product initiatives including: The promotion of equity research Development of new indices Hosting Growing Company Investor days Expand the AIM brand internationally: AIM Italia, launched in December 2008. 11 companies admitted and 15 Nomads approved TOKYO AIM, fully operational since June 2009 with the Tokyo Stock Exchange. 6 leading Nomads appointed Work with Government and policymakers to enhance AIM’s offering in the SME funding environment To support the development of the market and help companies maximise their profile, we:

15. Why choose AIM? The world’s most successful growth market A balanced approach to regulation tailored to growing companies An internationally focussed, professional investor base Critical mass of advisers, analysts, and investors with detailed sector experience International profile associated with a globally respected market The market of choice for smaller companies wishing to access the international capital markets to maximise their growth potential