1. 1 © NOKIA NVPII / 2000 Nokia Venture Partners March 2001 Peter Buhl

2. 2 © NOKIA NVPII / 2000 Nokia Venture Partners (NVP) - Overview $650 million under management NVP Fund I - $150 million (Established Sept. 1998) NVP Fund II - $500 million (Established Dec. 2000) NVP II value added Limited Partners: Nokia Corp., Goldman Sachs, CDBWebtech, BMC; key LPs in Japan and Hong Kong/China Investment Focus: Early stage companies in the US, Europe, and Asia Technology Focus: Cross-platform & Cross-network Mobile Internet Broadband/Wireless Convergence 11 Investment Professionals in Menlo Park, Washington DC, London, Helsinki; Hong Kong and Tokyo later in 2001 Fund Objective / Value Add

3. 3 © NOKIA NVPII / 2000 Selected Investments Recent InvestmentsPast Investments

4. 4 © NOKIA NVPII / 2000 Mobile Internet - Revenue Opportunity 0.0 10.0 20.0 30.0 40.0 50.0 60.0 70.0 80.0 90.0 200020012002200320042005200620072008200920102011 Advertising Entertainment Information services Transactional Streaming Browsing Downloading Telematics Chat Multimedia Messaging Picture Messaging Text Messaging Video Call Normal Voice Subscription Downloading Telematics Text Messaging $

5. 5 © NOKIA NVPII / 2000 Investment Opportunities Discontinuities in Internet/Wireless convergence have created opportunities for significant new entrants Interoperability (IP to Wireless) Many “standards” and formats Geographies are evolving to next generation at varying rates Location is a completely new dimension Virtual vs. Physical Devices and Usage context are different Limited capabilities of terminals Trusted device: always with you, but always on Different usage situations (e.g., driving, but not “surfing”)