In Focus: The 2011 Exit Environment for Cleantech IPO-Market for Cleantech Companies. Cleantech Forum Amsterdam, May 9-11, 2011

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1 In Focus: The 2011 Exit Environment for Cleantech IPO-Market for Cleantech Companies Cleantech Forum Amsterdam, May 9-11, 2011

2 Global Capital Market Activity Cleantech By Cleantech Group Research

3 Finance your Future Made in Germany Strong rebound from a weak end to 2010 Second largest quarterly volume of investment $ ever recorded, though the number of deals dropped Large, late stage deals were the driving force behind the quarterly $ total Source: Cleantech Group LLC 3

4 Finance your Future Made in Germany Investment increase driven by the U.S. The U.S. takes 79% of investment and 61% of all deals, the highest quarterly shares since 2002 Source: Cleantech Group LLC 4

5 Finance your Future Made in Germany Canada is hot for venture $ Country By Country Venture Investment ($) Source: Cleantech Group LLC 5

6 Finance your Future Made in Germany IPOs pull back from record 4Q10 Source: Cleantech Group LLC 6

7 DBAG Global Home for GreenTechnology Financing your Future Made in Germany

8 Introduction Deutsche Börse Group Companies have Direct Access to the Widest Pool of Investors Finance your Future Made in Germany XETRA the electronic trading system of Deutsche Börse is a pioneer in Europe 254 international trading institutions admitted more than 4,600 traders in 18 countries interlinked in a virtual listing and trading world No difference in listing and trading shares and DRs Location of investors and analysts does not really matter anymore 63 % of Investors coming from abroad Accessible investor types: Sector, size and country Investors Ireland Switzerland 2% 2% Netherlands 6% France 10% US 12% UK 28 % Others 3% Germany 37% Sweden 3 Ireland 4 UK 45 Netherlands 16 Belgium 3 Germany 118 Luxembourg 2 Czech Republic 2 France 14 Austria 14 Hungary 4 Switzerland 10 Bulgaria 1 Spain 4 Italy 5 UAE 1 Gibraltar 5 Cyprus 2 On Deutsche Börse companies are accessible by global investor reach Source: Xetra order-flow in Europe for 2009, Deutsche Börse AG, as of March, 1st

9 Finance your Future Made in Germany DBAG global home of Green Technology Pioneer in supporting financing needs of growing Greentech sector Source: Deutsche Börse, Solar Transportation/Mobility Biofuels & Bioenergy Wind Agriculture Fuel Cell Recycling Other Agriculture & RessourcesPreservation Other Services & Support Energy Supply Other Renewable Energy Other Energy Efficiancy & Reduction of Emission 2% Power Plant Technology 2% Material Building Energy Storage 107 companies active in Greentechnology listed at Deutsche Börse. Total market capitalisation > 350 bn. Euro 32% 17% 13% 6% 5% 3% 3% 3% 3% 2% 2% 2% 2% 1% Geothermy 1% Heating 1% Investment Funds 1% Light/Display 1% Waste treatment 1% IT-Infrustructure 1% 9

10 Well-known Brands in Global Peer Groups Green Technology Companies going Public on Deutsche Börse Finance your Future Made in Germany First Quotation Board Entry Standard General Standard Prime Standard Since listings of GreenTech companies Source: Deutsche Börse Group,

11 Well-known Brands in Global Peer Groups Since 1997 almost 20 bn raised in the GreenTech Sector Finance your Future Made in Germany IPOs SEOs 3,464 3,312 3,212 2,436 1, Capital raised in IPOs: 10,9 bn Capital raised in SEOs: 8,6 bn 2010 Deutsche Börse: Europe s No. 1 listing venue for the GreenTech sector Source: Deutsche Börse Group,

12 Well diversified investor mix for European listed solar OVERVIEW OF INSTITUTIONAL INVESTORS IN THE SOLAR SECTOR Finance your Future Made in Germany Regional break-down of institutional investors United States Europe 2.68% 0.43% 0.29% 5.72% 5.31% 0.78% 0.33% 21.69% European companies 31.62% US companies 16.80% 26.78% 4.62% 0.59% 22.79% 29.14% 87.57% German companies 26.00% 16.86% US UK Germany Europe (ex UK, DE) Canada Asia Source: BigDough (03/03/2010) Investors`universe of US listed solar companies predominantly consists of US based investors. German listed solar companies show a well balanced investor mix attracting a worldwide investor base 12

13 Thank you for your attention! Contact: Alexander v. Preysing, Head of Issuer Service, Deutsche Börse ,

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