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

2. 2 2 Market cap profileKey AIM statistics Number of AIM companies - UK companies* - International companies 1,143 918 225 Aggregate market value - Value of UK companies* - Value of international companies £65.4 bn £42.7 bn £22.7 bn Total number of admissions - UK admissions* - International admissions 3,290 2,723 567 Total capital raised - At admission - Through further issues £77 bn £34.9 bn £42.1 bn Capital raised by UK companies* - At admission - Through further issues £53.7 bn £25.3 bn £28.4 bn *by country of incorporation Median market cap = £16.2m 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 Market value range Number ofcompanies Source: London Stock Exchange trade statistics – January 2012 NB: excludes 11 currently unvalued companies and 8 suspended companies AIM – the world’s leading growth companies market

3. 3 3 AIM is home to 1,143 companies with an aggregate market cap of £65.4 billion Source: London Stock Exchange trade statistics – January 2012

4. 4 4 (in £ billions) Source: London Stock Exchange statistics – January 2012 AIM enables companies to raise capital throughout their life on market

5. 5 5 AIM covers an unparalleled range of sectors Source: London Stock Exchange trade statistics – January 2012 SECTORS REPRESENTED BY ALL AIM COMPANIES SECTORS BY MARKET VALUE

6. 6 6 Source: FactSet – January 2012 AIM Profile & Performance – Index comparison

7. 7 7 Source: Bloomberg. Time period analysed is the 6 months from February to July 2011 Average daily value traded as % of the market value of free float. Analysis shows median within each market cap range. AIM provides companies with an active secondary market No. of companies in sample group AIM All Share FTSE All Small £0-20m 37060 £20-40m 16233 £40-120m 166139 £120-250m 52128 £250-500m 3854

8. 8 8 AIM provides access to the world’s 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 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

10. 10 Case Study: Proximagen Group plc Company Profile Proximagen Group is focused on the development and commercialisation of novel therapeutics for diseases of the central nervous system. Based on the work of Professor Peter Jenner—one of the foremost authorities in the world on neurodegenerative diseases—the company provides drug discovery services to pharmaceutical companies with R&D programmes in disorders such as Alzheimer's and Parkinson's disease. Proximagen has also initiated a number of proprietary drug discovery programmes in other areas like Epilepsy, and Neuropathic pain. Company story Proximagen was admitted to AIM in 2005, two years after being founded by researchers at Kings College London. Prior to joining AIM, Proximagen had received considerable financial backing from the IP Group, who are specialists in the commercialisation of research intensive intellectual property. At admission Proximagen raised EUR 16.5 million and in June 2009 the company raised a further EUR 57 million for acquisitions and clinical stage development of new programmes. Today they are valued at over EUR 90 million and the IP Group retain an 8% stake in the company. Share Price performance Date of Admission:31 March 2005 Market:AIM Market capitalisation at admission:EUR 21m Current Market Capitalisation:EUR 90m Money raised at admission:EUR 16.5m Total further money raised:EUR 57m FTSE Classification/ Sub-sector :Pharmaceuticals & Biotechnology/Biotechnology Country of incorporation:UK Nomad:Evolution Securities Limited Trading Symbol:PRX Source: publicly available information. Please refer to the end of the presentation for legal disclaimer

11. 11 IPO Activity

12. 12 London remains the leading global IPO venue Number of IPOs YTD 2011 LSEG 84 HKSE 78 NASDAQ OMX 73 NYSE Euronext (US) 69 Deutsche Börse 29 NYSE Euronext (Europe) 21 London Polymetal Intl USD 769m Bilfinger Berger Global Infrastructure USD 333m RusPetro USD 233m Damille Investments II USD 116m Hong Kong Chow Tai Fook Jewellery USD 2bn New China Life Ins USD 1.9bn HKT Trust USD 1.2bn Baoxin Auto Group USD 415m New York SE Michael Kors Hlds USD 1bn Delphi Automotive USD 530m Chesapeake Granite Wash Trust USD 437m Laredo Petroleum Hldgs USD 342m NASDAQ Zynga Inc USD 1bn Groupon Inc USD 805m Jive Software Inc USD 185m Memorial Production Partners USD 182m NYSE Euronext Europe Cogra SA USD 3m Relaxnews SA USD 3m n/a Deutsche Börse RWE AG USD 2.8bn Hugo Boss AG UDS 422m Brenntag AG USD 410m Deutsche Wohnen AG USD 249m 82% 18% 62%38% 71% 29% 75% 25% 50% 15%85% Source: Dealogic Source: World Federation of Exchanges Four largest transactions since October 2011 as follows (money raised provided in the tables). Heading numbers denote % of IPOs (since October 2011) above and below IPO price.

13. 13 The Bloomberg European U.K. IPO Index is a capitalization-weighted index which measures the performance of stocks during their first publicly traded year. It includes all companies with a market value of at least €50million at the initial public offering. The index was developed with a base value of 100 as of September 28, 2001. The parent index is BEUIPO. Source: Bloomberg– February 2012 London IPO’s continue to demonstrate strong post IPO performance

14. 14 Average analysts per company, by sector Source: Bloomberg, Oct 2011. Data includes only companies on the main boards of each exchange Average analysts per company Analysts raise profile for the listed companies which they cover Analytical reports deepen issuers’ liquidity potential London listing provides for the largest analyst exposure compared to any other centre London Stock Exchange listing gives companies global visibility

15. 15 Global costs of listing, a comparison* Listing in London continues to be the most cost effective option *Based on gross underwriting fees, (excluding AIM) Source: Dealogic, February 2012. The costs of listing in London are the lowest amongst major exchanges Cost of listing in London is further reduced by:  Regulation which is widely tested and balanced  Timing of the admission process is clearly communicated  Regulator which provides consistent and predicable comments  Direct communication with the regulator and the Exchange  Highly competitive legal services which have deep experience in listing process  All disclosures in English

16. 16 (1) Source: IPREO. Please refer to the end of the presentation for legal disclaimer The London Stock Exchange is the most international exchange¹ in the world, with close to 600 international companies from over 70 countries, listed and traded on its markets. The London Stock Exchange offers a wide choice of routes to market. The choice of markets is open equally to UK and international companies, and differentiated trading platforms offer tailored solutions to maximise liquidity and investor participation. We provide cost-efficient access to the world’s largest pool of international equity assets. Over USD 1.9 trillion of equities are managed out of London, with close to USD 1.2 trillion invested in international equity assets, more than any other major financial centre. (1) With close to 3,000 companies quoted on its markets and over 500 member firms, the London Stock Exchange Group operates one of the most liquid equity marketplaces globally. Conclusions

17. 17 Contacts RegionRelationship ManagerTelephoneemail UKLucy Tarleton Mark Fahy Mark Russon + 44 20 7797 4672 + 44 20 7797 6396 + 44 20 7797 7397 ltarleton@londonstockexchnage.com mfahy@londonstockexchange.com mrusson@londonstockexchange.com Asia PacificJane Zhu (HK) Long Ngo (HK) Julia Wang (Beijing) Yi Xie (London) +852 3555 6390 +852 3555 6392 +86 10 5833 2202 +44 20 7797 4743 jzhu@londonstockexchange.com lngo@londonstockexchange.com jwang@londonstockexchange.com yxie@londonstockexchange.com Continental EuropeLuca Peyrano Axel Kalinowski +44 20 7797 3340 +44 20 7797 4108 lpeyrano@londonstockexchange.com akalinowski@londonstockexchnage.com India, Pakistan, Middle East and Africa Ibukun Adebayo Richard Webster-Smith +44 20 7797 1085 +44 20 7797 1058 iadebayo@londonstockexchange.com rwebstersmith@londonstockexchange.com Russia and CIS www.russianipo.com Jon Edwards Ayuna Nechaeva +44 20 7797 1599 +44 20 7797 4386 jedwards@londonstockexchange.com anechaeva@londonstockexchange.com Primary market account managers Product management and development MarketProduct ManagerTelephoneEmail Main Market, PSM, SFM and ATT Only Joanne Dutton Darko Hajdukovic +44 20 7797 3622 +44 20 7797 3306 jdutton@londonstockexchange.com dhajdukovic@londonstockexchange.com AIMMarcus Stuttard Claire Dorrian +44 20 7797 3364 +44 20 7797 2074 mstuttard@londonstockexchange.com cdorrian@londonstockexchnage.com