Update October 2006

1
Update - October 2006
2

• Sumus Plc is the AIM listed group holding company
  for Falcon Group Plc, Financial Services Advice
  and Support Ltd and Financial Synergies Plc.
• Sumus Plc is also the facilitating vehicle for
  the IFA Consortium.

3
To create an outstanding, sustainable and
increasingly profitable IFA Group, through the
provision of valued services to quality IFA
businesses, advisers and clients.
Sumus Plc listed on AIM in Feb 2005, raising
2.5m net. To drive organic growth and to
acquire carefully selected IFA businesses in a
fragmented sector set for further consolidation,
also to increase revenues through funds under
management.
4

• Turnover up 34.7 to 6.99m (2005 5.19m)
• Pre-tax profit up 30.6 to 393,000 (2005
  301,000)
• Interim Dividend up 10 to 0.22p (2005 0.2p)
• Operating margin up to 4.3 (Sept 2005 3.9)
• Cash resources up to 4.29m (March 2005 3.58m)
• Average adviser productivity 100,000 pa (2005
  93,000)
• Adviser numbers up to 140 at 31/3/2006 (Sept
  2005 135)
• Growth in Investment, Pensions and Recurring
  revenues
• Acquired FSAS on 7/9/2006 adding 160 advisers and
  10m pa turnover

5

• Falcon Group Plc
• Adviser and AR locations
• FSAS Ltd
• Adviser and AR locations

6

• The IFA profession accounts for about 70 of the
  total market for financial services.
• High demand from private and corporate clients
  for face to face independent financial advice and
  long term business relationships.
• Opportunities to meet client demand for wider
  range of services including investment
  management.
• The IFA sector has limited access to capital for
  expansion and development, driving consolidation
  opportunities.
• Highly fragmented sector with some 5,000 firms
  and 25,000 advisers.
• Regulatory demands and capital adequacy
  requirements.
• Profitability continues to be patchy across much
  of the IFA sector.

7
We offer IFAs are looking for

• Quality brand, scale,
  multi-specialisations and support services.
• Reduced costs of authorisation
  and business development.
• Access to development capital
  without loss of autonomy.
• Competitive professional
  indemnity insurance cover.
• Technology solutions, training
  and business efficiencies.
• Succession planning and exit
  strategies.

8

• Financial
• Delivering profitable growth by attracting and
  developing quality IFAs with high productivity,
  driving increased levels of revenues and fees.
• Selectively adding earnings enhancing
  acquisitions and joint ventures to develop
  greater scale and profitability.
• Maintaining favourable operational gearing.
• Commercial
• Open and highly supportive business style and
  ethos.
• Focused on careful selection, development and
  retention of IFAs.
• Rigorous compliance culture 100 Risk
  Management standard in Falcon close scrutiny
  regarding the products advised on by our IFAs.

9

• We aim to
• Double the number of IFAs and clients in the
  Group over next 3 years.
• Convert a proportion of advisory assets into
  funds under management.
• Build additional recurring revenues non
  dependent on new business.
• Encourage advisers to increase trail income and
  fund based revenues.
• Maintain conservative controls and unique
  qualities of the Group.
• Develop further valued services to corporate and
  private clients.
• Deliver organic expansion and growth by joint
  ventures and selective acquisitions driving
  increased revenues and profits.

10
SUSTAINABLE GROWTH
000
1,405 1,989 2,703 3,588 4,072
6,692 7,787 7,604 10,148 12,289
46.3 41.6 35.9 32.7
13.5 64.3 16.4 -2.3 33.5
21.1
Annual turnover and year on year growth 1996
2005
11
CONSISTENT PROGRESS
000
1,405 1,989 2,703 3,588 4,072 6,692
7,787 7,604 10,148 12,289 10,929
10 years of 25 pa compound growth
46.3 41.6 35.9 32.7 13.5
64.3 16.4 -2.3 33.5 21.1
21.9
Quarterly revenues and annual growth Q1 1996
Q3 2006
12


Protection Mortgage Retirement Fees
Rec Investment
9.1 10.4
19.6 21.4 39.5
Falcon revenue mix by turnover 1/10/2005
30/9/2006
13
FALCON - TOP 20 PROVIDERS IN 2005/6
By revenue - accounting for 75 of total income

• Norwich Union 8.7
• Clerical Medical 6.5
• Skandia 6.5
• Scottish Widows 6.3
• AXA 6.2
• Scottish Equitable 5.2
• Standard Life 5.2
• Legal General 5.1
• Canada Life 4.0
• Cofunds 3.5

• Fidelity 2.5
• Prudential 2.3
• SEI Investments 2.2
• Friends Provident 2.0
• Merchant Place 2.0
• Northern Rock 1.8
• Transact 1.6
• Halifax 1.6
• C G 1.5
• Sterling 1.4

Falcon transacted with over 200 provider groups
1/10/2005 30/9/2006

14
QUOTED IFA VALUATIONS / RESULTS - M

• Mkt Cap T/O
  PBT Y/end Staff Op Margin ROCE
• Sumus 10.0 12.5 0.63 09/05
  18 3.9 16.7
• Lighthouse 13.6 32.6 - 0.55
  12/05 99 0.8 9.9
• Cavanagh 10.9 12.0 - 0.33
  12/05 142 0.3 6.6
• Clarkson Hill 8.2 10.0 - 0.15
  07/05 64 - 1.2 -
  9.1
• Berkeley B B (S) 4.6 67.3 - 25.7
  03/05 430 - 2.4 - 10.3
• Millfield (S) 1.5 85.0 - 20.1
  03/05 699 - 9.4 - 57.3

Market Caps at 2/10/2006 turnovers
results key ratios Source
Hemscott (S) Suspended
15
Michael Innes, Allan Rosengren, Julian Telling,
Peter Smith, Iain Black Sumus Plc Board
Allan Rosengren Group Chief Executive
Iain Black Barry Wycherley Martin Telling Steve
Hancy Chris Wheatley Kevin Winter Chris
Sellers AR Regional Directors
Peter Smith Group Finance Director
Julian Telling Group Operations Director
Andrew Snowball FSAS Limited
Bob Perks Financial Synergies
Alex Spragg Financial Control
Deb Roach Operations
Louise Whelan Risk Management
Stephen Gazard Group Development
Piers Denne Investment Solutions
Operations Processes
Development Growth
16

• Sumus has capital and resources to actively
  engage in sector consolidation.
• The Group is consistently profitable, financially
  strong and dividend paying.
• History of developing longterm relationships
  generating ongoing value.
• Joint ventures for greater distribution
  capabilities and potential.
• Dynamic businesses, longestablished, profitable
  IFA group and networks.
• Sound, well considered, careful, value added and
  targeted growth strategy.
• Asset management offers great potential for
  generating further value.
• Highly experienced management team with a track
  record of delivering sustained growth and profits
  over more than two decades.

17

• Falcon is a National IFA Group and Network
  headquartered in Bristol.
• 149 Advisers including 38 Appointed
  Representative firms (at 30/9/2006).
• Focused on quality and sustainable profitability
  not simply on turnover.
• Founded in 1983 consistently profitable over
  the last 23 years.
• FSA authorised and regulated excellent
  regulatory track record.
• Entirely client centric Whole of Market IFA
  no debt or provider funding.
• All submitted business and client advice is Risk
  Managed.
• 65,000 clients and circa 1.3 billion of assets
  under advice.
• Wholly owned by Sumus Plc

18

• FSAS is a National IFA Network, headquartered in
  Dunfirmline, Scotland.
• 162 Advisers within 54 Appointed Representative
  firms (as at 30/9/2006).
• Focused on growing a sustainable and successful
  Network.
• Founded in 2001 now profitable.
• FSA authorised and regulated.
• No debt or provider funding.
• 60,000 clients and circa 700 million of assets
  under advice.
• Wholly owned by Sumus Plc since 7/9/2006

19

• Provides aggregated buying power and improved
  terms for directly authorised IFA businesses
  outside Falcon Group and FSAS.
• Offers access to compliance, PI cover and
  business support services at cost.
• Members to be allotted 50 of the shares in
  Financial Synergies Plc based on revenues
  contributed as at 31st December 2009.
• Provides facilities to medium sized IFA
  businesses with 500k pa turnover.
• Established in September 2004 - 70 owned by
  Sumus Plc 30 owned by Alchemy Business Partners

20

• Launched in November 2005 combines circa 500
  advisers in large IFA Groups current combined
  turnover is approaching 40m.
• An aggregator for 5m turnover directly
  authorised IFA groups.
• Formed out of PI Financial in the Midlands and
  FSAS in Scotland joining forces with Falcon Group
  and Financial Synergies.
• Fiscally neutral to member groups creates
  leverage and purchasing power.
• Objective is to attain national IFA coverage and
  promote services to large corporate
  organisations, affinity groups and private
  clients.
• Aiming to amalgamate 5 to 8 large IFA businesses
  generating combined turnover of 50m100m.