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Players in the GNSS Service Sector and attractiveness for Financial Markets 12 June, 2008

Players in the GNSS Service Sector and attractiveness for Financial Markets 12 June, 2008 Rainer Horn Managing Partner. SpaceTec Capital Partners AG Perchtinger Str. 5 D-81379 Munich. Phone: +49 89 7249556-0 www.spaceteccapital.de horn@spaceteccapital.de. About SpaceTec Capital Partners.

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Players in the GNSS Service Sector and attractiveness for Financial Markets 12 June, 2008

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  1. Players in the GNSS Service Sector and attractiveness for Financial Markets 12 June, 2008 Rainer Horn Managing Partner SpaceTec Capital Partners AGPerchtinger Str. 5 D-81379 Munich Phone: +49 89 7249556-0www.spaceteccapital.de horn@spaceteccapital.de

  2. About SpaceTec Capital Partners OUR COMPANY: Independent partnership backed by private investors, based in Munich • Investingprivate equity in application companies • Creating deals and investment opportunities • Consulting entrepreneurs, application industry, institutions OUR FOCUS : “Satellite Information Business” - the interface between information and satellite technology

  3. SpaceTec is focusing on “Satellite Information Business” SpaceTec Activity Scope Satellite Internet Software Hardware IT Information Business GeoData Communi- cation Remote Sensing Navigation ... Climate Process automation Examples Climate forecast from past data Integrated Applications in ... Environment Automated surveillance of buildings Damage assessment Mobility Risk Geo data bases Telematics Security Automation of public duties Logistics Resources Traffic Forest fire detection Tele medicine Vehicle blackbox Identification of water and resources Traffic Data Analysis Source: SpaceTec Capital Partners AG

  4. Innovation in IT is enabling integrated space applications Information & Communication Technologies (ICT) Satellite Technologies • Performance and value for money (Processors, memory, battery, displays) • Availability of broadband • Internet as trusted channel • ebay, Amazon,… • Internet business processes • Security standards • Intuitive user interfaces (ipod, touch screens) • Web 2.0 – user generated contents (Youtube, Wikipedia) • Complimentary technologies (Cell-ID, WiFi, etc.) • Additional Satellite capacity • with improved performance • ~ 50 SatNav • ~ 20 Earth observation • Active technology transfer by space agencies • Mass market mobilisation • (Google Earth, TomTom) • New markets through public investments into security, natural hazards prevention, environment and climate protection, etc. Integrated Applications e.g. • TomTom MapShare • Harley-Davidson “Great Roads Explorer” • Harvest forecasting • Natural hazard prevention and mitigation • Climatic forecasts on the basis of historic weather data • Automated surveillance • Integrated traffic management Source: SpaceTec Capital Partners AG

  5. Integrated applications are targeted by many players Anwendungen T-Mobile T-Systems Orange ORACLE Vodafone ESRI APPLICATIONS Siemens SOFTWARE INFRASTRUCTURE Toll-Collect Microsoft OHB Teledata WindowsLive Cell-ID TrafficInfo Vexel Lockheed Yahoo OrbComm SpotImage Android INTEGRATED APPLICATIONS Environmental monitoring Traffic coordination Forest fire early warning Automated surveillance Telespazio GAF RideFinder Transit ThalesAlenia Infoterra Google Google Earth Ascos/ Axio-net EADS Google Maps Cell-ID database Boeing Palimsest Leica Trendanalyser FaceBook Novatel WeatherBug Trimble Land Surveying Agencies Rough Guide Septentrio Ordnance Survey Multimap Apple Geodata DVD Penguin Travel Skyhook Blackberry Gps Phone i-phone MerianScout Sony/Ericson Falk Gypsi ZagatOnline Nintendo DigitalGlobe USER HARDWARE CONTENT Via Michelin Navigon IQMaps Yellow Pages MapShare Magellan Jentro Nokia OVI Garmin NokiaMaps AND Strategic Activities TomTom NAVTEQ Nokia Tele Atlas Source: SpaceTec Capital Partners AG

  6. Private Equity helps spin-offs and start-ups Key Data Financing History & Exit USA • Revolutionary software to display 3D geo data on the internet • Spin–off from Intrinsic Graphics (3D graphics specialist) in 2001 • Location: Mountain View, CA, USA • 2004: TradeSale / Renaming to ... Seed Start - Up Expansion Later Stage Profit • In–Q –Tel (CIA Fund) • Sony CVC • NVIDIA • Business • Angels • Business • Angels Exit Loss 2001 2003 2004 • Developers of GPS microchips und modules • 1997: Foundation as spin-off from ETH Zurich • 1998: First GPS chip in SMD technology • 2000: Erster GPS chip in mobile telephony • 2004: Indoor GPS technology • 2005: GPS chip with 40% less power consumption • Revenue 2006: 54 MCHF, 13% EBIT, 53 Empl., Thalwil (CH) • Valuation: 217 Mio € CH Seed Start - Up Expansion Later Stage • Parker Group • und ZKB • 3i IPO Profit MBO Loss 1997 2001 2002 2007 • Start-up formed in Berlin in 1999 as Gate5 GmbH • Leading provider for software and services for LBS and information on mobile devices • 2000 Winner of the E-economy award • 2004: additional financing round 6,5 €MN • Trade-sale to Nokia and renaming to smart2Go/NokiaMaps D Seed Start - Up Expansion Later Stage • Innoven Partners • Target Partners • Brandenburg Capital • IBB • Brandenburg • Capital • IBB Profit Exit Loss 1999 2000 2002 2004

  7. Investors believe in the “Satellite Information Business” Achieved Earnings multiples in 2006 after IPOs in 2005 Index comparison GNSS / NASDAQ 1999-2007 40x 21x 16x 16x GNSS Index* 23x 14x NASDAQ Combined Stock Valuation in Merger in May 08: > € 5.6 BN *Publically traded GNSS /Digital map companies Source: GSA, Google Finance Source: EVCA, Goldman Sachs; STCP Analysis

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