1. Heart of the worlds financial markets Prepared for the Institute of Directors May 2012

2. 2 London is the premier listing choice LIQUIDITY INVESTORS PROFILE Global Financial Centres index Londons ranking 1st Edition 4 Sept 2008 Global Financial Centres index Londons ranking 1st Edition 5 March 2009 Global Financial Centres index Londons ranking 1st Edition 7 March 2010 Global Financial Centres index Londons ranking 1st Edition 8 Sept 2010 Global Financial Centres index Londons ranking 1st Edition 9 March 2011 Global Financial Centres index Londons ranking 1st Edition 10 Sept 2011 Through our group companies we endeavour to provide the best listing and trading environment for our issuers

3. 3 …sitting in a time zone which can trade with the world London is a global hub for international investors USD million Assets managed in the UK and globally out of London – ten largest investment firms Source: Investment Management Association: Asset Management in the UK 2009-2011. All major global investors sit in London are able to access London Stock Exchange traded stocks 0 -11 -10 -9 -8 -7 -6 -5 -4 -3 -2 -1 0 +1 +2 +3 +4 +5 +6 +7 +8 +9 +10 +11 London trading hours

4. 4 London Stock Exchange offers a diverse range of markets Main Market EU Regulated markets Exchange Regulated markets AIM Professional Securities Market Specialist Fund Market Securities admitted to official list (maintained by UKLA) Securities not admitted to official list (maintained by UKLA) The choice of market will depend on a number of factors including: Stage in a companys development Complexity of the offer and securities issued Target investors Companys size Company's strategy and objectives From Small to Large:

5. AIM: The Worlds Most Successful Growth Market

6. 6 6 NB: Number of companies colour coded per grouping rather than country 60 + 40-59 20-39 0-19 Number of companies Source: London Stock Exchange statistics – February 2012 AIM companies have operations across the globe from 95 countries 65 50 42 59 40 24 36 29 26 15 Other offshore: 10 Isle of Man & Channel Islands: 18 23 9 1 11 UK: 685

7. 7 7 AIM covers an unparalleled range of sectors Source: London Stock Exchange trade statistics – February 2012 INDUSTRY REPRESENTATION BY NUMBER OF COMPANIES

8. 8 8 AIM provides access to the worlds leading institutional investors The investor base for AIM companies is institutional and retail. Source: GCI Institutional Investors in AIM survey 2011 Investor Number of investments Value of investments (EUR million) Blackrock141 2,188 Fidelity86 1,025 Invesco55 863 Lloyds Banking Group56 800 Prudential43 774 Henderson Global Investors167 732 Capital Group Companies35 694 Challice Limited1 602 Citvic Nominees5 581 JPMorgan Chase64 523

9. 9 9 (in £ billions) Source: London Stock Exchange statistics – February 2012 AIM enables companies to raise capital throughout their life on market

10. 10 AIMs entry criteria are tailored for growing companies Nominated adviser (Nomad) required at all times No minimum size requirement No minimum financial history required No formal requirement for shares to be held in public hands

11. 11 Continuing eligibility requirements facilitate growth and investor confidence Must retain a Nomad at all times Must disclose all price sensitive information in a timely manner Half yearly and annual report and accounts required UK Corporate Governance standards adopted by companies as best practice

12. 12 Pre IPO Considerations Timing:6 – 12 months Deal Team: External advisers and internal team Tasks: Board structure & corporate governance Financial due diligence Legal due diligence Produce Admission Document / Prospectus Investor roadshow

13. 13 Post IPO Considerations Investor Relations:Investors, analysts and media Reporting:Company results Price-sensitive information Regulation:Company and Director obligations

14. 14 Further Information Mark Russon Business Development Manager UK Primary Markets +44 (0)7766 421 679 mrusson@londonstockexchange.com www.londonstockexchange.com