Slide 1: Interim Results Presentation, Anthony Kongats, CEO
Anthony Kongats, CEO March 2007 © CAP-XX CONFIDENTIAL 2007
Slide 2: Disclaimer
Disclaimer •The content of this presentation has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Reliance on this presentation for the purposes of engaging in any investment activity may expose an individual to a significant risk of losing
Slide 3: Executive Summary
Executive Summary Portable devices are handicapped today by inadequate power and energy technology CAP-XX supercapacitors will have an increasing role in solving these problems Market timing for CAP-XX CAP XX is excellent We have made good progress since IPO & remain on track Success with
Slide 4: Executive Summary
Executive Summary Australian supercapacitor (electronic component) manufacturer, founded 1997 Listed on London AIM Stock Exchange April 2006 Raised US$30.6 m to fund attractive opportunity pp y in mobile phones © CAP-XX CONFIDENTIAL 2007 4
Slide 5: Executive Summary: Financial Results December 2006
Executive Summary CAP-XX LIMITED FINANCIAL RESULTS 31 December 2006 Year on Year Comparison $AUD’000s Variance Favourable % (Unfavourable) Product units shipped (‘000’s) 436 231.7% ASP per unit USD$(0.42) (12.7)% Sales revenue growth 1,540 182.5% Reduced loss for period 822 14.9% EBITDA (1,607) (49.
Slide 6: CAP-XX Profit & Loss
CAP-XX Profit & Loss Profit & Loss Variance Half Year ended 31 December 2006 2005 Favourable/ % $AUD 000’s (Unfavourable) Sales – Units (000’s) 625 188 436 231.7% - ASP US$ 2.91 US$ 3.33 US$ (0.42) (12.7)% Sales revenue 2,384 844 1,540 182.5% Cost of sales (3,098) (3,337) 239 7.2% Gross loss on sale
Slide 7: CAP-XX Cash Flow
CAP-XX Cash Flow Cash Flow Variance Half Year ended 31 December 2006 2005 Favourable/ $AUD 000 000’ss (Unfavourable) Net cash outflow from operating (3,728) (2,164) (1,564) activities Net capital expenditure (1,045) (512) (533) Operating cash flow (4,773) (2,676) (2,097) Net proceeds from issuance o
Slide 8: CAP-XX Balance Sheet
CAP-XX Balance Sheet Balance Sheet 31 December 30 June $AUD 000’s 2006 2006 Change Fixed assets (NBV) 2,297 1,678 619 Other non current assets 156 153 3 W ki capital Working it l 154 257 (103) Provisions (768) (562) (206) Total capital employed 1,839 1,526 313 Cash 15,385 20,107 (4,722) Borrowings -
Slide 9: CAP-XX Balance Sheet
CAP-XX Balance Sheet Balance Sheet 31 December 31 December $AUD 000’s 2006 2005 Change Fixed assets (NBV) 2,297 3,957 (1,660) Other non current assets 156 155 1 Working capital 154 2,859* (2,705) P i i Provisions (768) (552) (216) Total capital employed 1,839 6,419 (4,580) Cash C h 15,385 15 385 253
Slide 10: Consumer needs are changing
Consumer needs are changing More functionality and better performance needed from portable electronics Cameras, speaker phones, high quality audio, colour screens, internet access, email, mobile TV,video-conferencing Want small p physical y size of devices 1980s ‘brick’ versus 2006 ultra-por
Slide 11: What is a supercapacitor?
What is a supercapacitor? 10,000,000 Capacitors 1,000,000 100,000 10 000 10,000 Speciffic Power W/l 1,000 Supercapacitors 100 Batteries 10 1 Fuel Cells 0.01 0.1 1 10 100 1,000 10,000 Specific Energy Wh/l © CAP-XX CONFIDENTIAL 2007 11
Slide 12: What is a Supercapacitor?
What is a Supercapacitor? Capacitor Supercapacitor Battery Stores small quantity of Stores large quantity of electrical Stores large quantity of energy electrical energy energy Chemical process Static electricity Static electricity Releases energy slowly Releases energy very quickly
Slide 13: How supercapacitors help
How supercapacitors help What the supercapacitor does Benefits to consumers Supercapacitor acts as a buffer between Reduce size and weight of battery in the device and the battery (or fuel cell) device Protects the batteryy from the demanding g Maintain or improve runtime and lifetime device
Slide 14: Broad range of addressable markets
Broad range of addressable markets Wireless modem cards Smart meters To date Ruggedised PDAs USB accessories People, car and asset tracking Security products Fuel cells are less responsive to power demands than batteries Fuel Cell “The supercapacitor will…find a ready market for portable f
Slide 15: Camera-phones are an early opportunity
Camera-phones are an early opportunity Manufacturers and consumers seek longer run-time and increased picture quality, particularly in low light Handset manufacturers seeking solutions, to avoid larger, heavier batteries or limited functionality Camera-flash technology today restricted to low-
Slide 16: Poor flash is the issue
Poor flash is the issue “Inferior flash… is a major reason CAP-XX why camera phones aren’t supercapacitor equivalent i l t tto di digital it l cameras”” – Charles Golvin, Forrester Research “…camera phones should be able to take good quality photographs. An essential part of this requirement is a hi
Slide 17: CAP-XX offers a dramatic performance improvement
CAP-XX offers a dramatic performance improvement Unmodified Nokia N73, 4 LEDs @ 70mA each,, ~2.5 - 3m SonyEricsson K800, ~2.5 - 3m Modified Nokia N73, Supercapacitor driving 4 x LEDs @ 0.75A ea,, ~2.5 - 3m,, Lens not optimised © CAP-XX CONFIDENTIAL 2007 17
Slide 18: ... and more light than a large Xenon Flash
… and more light than a large Xenon Flash Lux.secs @ 2m 20 SonyEricsson k750 k750, 60uF @ 2m 18 SonyEricsson k800, 2 x 14uF @ 2m 16 LT/Gigabyte, 15uF @ 2m 14 4 x LEDs @ 1A ea @ 2m x.secs on axis 2 x LEDs @ 1A ea @ 2m 12 Nokia N73 low power LED Flash @ 2m 10 8 Lux 6 4 2 0 0.00001 0.0001 0.001 0.01 0.
Slide 19: ... in a much smaller package
… in a much smaller package Electrolytic Supercapacitor Capacitance 2 x 14μF = 28μF 1.1F/2 = 0.55F Energy storage ½ x 28μF x (330V 2 –100V 2 ) = 1.4J ½ x 0.55F x (5.5V 2 –4.5V 2 ) = 2.75J dimensions 2 x 7mm dia x 18mm long g 2 x 17mm x 28.5mm x 1.6mm Volume 1.76cc (effective) 1.55cc Energy density 0
Slide 20: ... in a much smaller package (continued)
… in a much smaller package (continued) © CAP-XX CONFIDENTIAL 2007 20
Slide 21: ... plus the supercapacitor can do so much more
… plus the 1 supercapacitor can do so much more .. } Other regulators for low . power, const power loads, e.g. MPU Boost Vout ≈ 5V Peak Power Rail Average Power, ~1A max current Flash/Torch Voltage set select LED Drive Reg. LED Enable Vout/2 Audio Amp RF HDD 4.8V – PA 2.5V Dual-cell Supercapacitor a
Slide 22: Music with/without supercapacitor
Music with/without supercapacitor Without supercapacitor, driving 2 x 8 Ohm With supercapacitor, driving 4 x 8 Ohm speakers speakers Music Power Battery Current 6 1.5 6 1.5 Music Power urrent urrent ower 5 1.25 5 (W) 1.25 Music Po Cu Cu 4 1 4 1 Battery Battery (W) 3 0.75 3 0.75 ((A) ((A) B B 2 0.5 2
Slide 23: What makes CAP-XX supercapacitors unique
What makes CAP-XX supercapacitors unique What makes CAP-XX supercapacitors unique is: E Energy stored t d – 100 times ti greater t than th a standard t d d capacitor it ((off same weight) Power delivered – 10 to 100 times greater than a battery (of same weight) Size and weight – wafer thin, li
Slide 24: Defensible position
Defensible position Targeted patent strategy, global reach, 19 families Patents cover materials, materials processes and applications Patent life of between 14 and 20 years Broad reaching Trade secrets across materials, manufacturing, devices Complex manufacturing and specialised machine
Slide 25: Proven ability to execute
Proven ability to execute CAP-XX delivers products to customers in volume today Circa 2.5m sold to date Design wins growing Technology is proven Brand name customers Repeat sales Manufacturing in place, proven and scalable Core material processes in house Mass manufacturing outsour
Slide 26: Board of Directors
Board of Directors Anthony Kongats (CEO) Founder CAP-XX Ltd. 16 years experience in electronic components Michael Quinn (Chairman) Co-founder Memtec Ltd. (NYSE), CEO Innovation Capital Director ResMed Inc. (NYSE), Chair Audit Committee Graham Titcombe 42 years with Johnson Matthey, G