Diapositivo 1

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ASK PRIVATE EQUITY PRESENTATION _at_ ISCTE, Jan.
2010
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ASK, S. A.
ASK Advisory Services Kapital is a financial
boutique, born in 2006, which covers a wide range
of financial services focusing in Corporate
Finance ("ASK Corporate Finance"),
Venture/Private Equity ("ASK Private Equity") and
Real Estate ("ASK Real Estate").

• Venture/Private Equity business arose at the end
  of 2006, when ASK acquired 100 of the capital
  stock of the management company, ISQ - Sociedade
  de Capital de Risco, S.A. ("ISQ Capital").

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ASK PRIVATE EQUITY

• ASK Private Equity has a unique position in the
  Portuguese venture capital environment as it
  invests only in the sectors where it has a deep
  knowledge. This expertise arises mainly from one
  of its major shareholders ISQ, the biggest
  technological infra structure in Portugal. Thus,
  ASK Private Equity investments focus on those
  sectors in which ISQ boasts deep knowledge, such
  as information technologies, new industrial
  technologies, energy and the environment.
• ASK Private Equity launched its first venture
  capital fund in the beginning of 2006 Fundo ISQ
  Capital. Fundo ISQ Capital was totally invested
  in the capital of 16 companies. Practically all
  the investments were completed at the seed or
  startup phase. Strong personal relationship
  between the entrepreneurs and members of the
  Funds Management Team. As opposed to the risk
  associated with this phase in the life of
  companies, there also exists, in general, an
  expectation for a higher return, assuming the
  success of projects in which it participates.
• The portfolio companies are performing very well.
  At the moment there are only 13 subsidiaries, as
  the Fund has already divested in 3 companies,
  achieving good levels of return.

These are the three companies already sold
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FUNDO ISQ CAPITAL PORTFOLIO
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FUNDO ISQ CAPITAL INVESTMENTS SAMPLE
CERAMED

• Formed in 2005, its main business area is the
  coating of medical implants for orthopedics,
  working mainly for the foreign market. It also
  offers services in the area of PVD coatings,
  physical vapor deposition for medical instruments
  and organic coatings. Ceramed also operates in
  the area of biomaterial production with medical
  applications, especially, kitosan, for which it
  has submitted several intellectual property
  patents with worldwide protection. The company
  also has a plant producing ultra-pure kitosan.

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FUNDO ISQ CAPITAL INVESTMENTS SAMPLE
OON

• Formed in 2008, OON is dedicated to researching,
  developing and marketing recycling solutions in
  the domestic environment. The company began its
  activity focused on the development of an
  innovative product that allows any vegetable oil
  used in ornamental candles to be converted.

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FUNDO ISQ CAPITAL INVESTMENTS SAMPLE
Spheraa

• Formed in 2007, this company developed a solution
  that consists of the use of micro turbines at
  strategic points in water-supply pipelines for
  the production of electrical energy, transferring
  energy to the national electricity grid.

Electricity Pole
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Cell 1
Electricity Pole
Cell 2
Maneuvering Chamber
Electricity Pole
Cell 3
Electricity Pole
Maneuvering Chamber
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WHERE DOES ASK PRIVATE EQUITY STAND NOW?

• ASK Private Equity is now in the process of
  fundraising for two new Funds, which are already
  structured and about to be launched
• FUNDO ASK CAPITAL This Fund has come into being
  as a result of the work developed within the
  scope of Fundo ISQ Capital, the first venture
  capital fund under ISQ Capital management. The
  aim of Fundo ASK Capital (Fundo ASK) is, then,
  to give continuity to the project associated with
  ASK Private Equity, by way of the management of
  greater amounts and the use of the invaluable
  experience of the Management Team associated with
  Fundo ISQ Capital.
• In line with the first fund under management,
  Fundo ASK will also focus on companies that are
  in the early stage of their existence and that
  present a strong potential to increase in value,
  either through the utilization of technology of a
  unique nature, or through the utilization of a
  strong component of innovation.
• FUNDO ASK CELTA This Fund has its focus on
  small and medium sized companies, operationally
  profitable and with an international potential,
  yet, with fund needs. The preferred sectors are
  the ones where ISQ has a recognized track record
  and where either ISQs and ASKs international
  presence may create an additional value, in order
  to potentiate new business in new alternative
  markets, as for Northern Africa, Latin America
  and Angola.

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DEAL FLOW

• ASK Private Equity is now mainly focused on the
  Fundo ASK. One of its main concerns is its access
  to good investment opportunities. The investment
  projects, that usually enter ASK Private Equity
  for analysis, have mainly 4 types of origin
• ISQ - opportunities coming from the ISQ Universe
  (own ideas and/or of business partners)
• ISQ BUSINESS INCUBATOR - space with 3,000 m2
  destined to incubate companies of an innovative
  nature
• NETWORK of contacts belonging to the ASK
  Management Team, its shareholders and its
  subsidiaries
• PUBLIC VISIBILITY attained by ASK, which has
  motivated countless contacts from potential (and
  existing) promoters of business opportunities.
• Moreover, ASK Private Equity also counts on
  investment opportunities coming from INVESTMENT
  BANKS/FINANCIAL ADVISERS, as well as other
  opportunities presented by OTHER VENTURE CAPITAL
  management companies, interested in sharing the
  risk and know-how.

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INVESTMENT PROCESS

• ASK Capital Fund investment process will be
  conducted by means of a set of phases
  meticulously developed by the Management Team

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INVESTMENT PROCESS (CONT.)?
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INVESTMENT PROCESS (CONT.)?
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INVESTMENT PROCESS (CONT.)?
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EXIT

• The fund has an investment period of 3 years
  followed by 6 years focus on divestment.
• The most common exits within the scope of ASK
  Private Equity Funds are
• Trade-Sale larger companies who often look to
  buy smaller companies them once their innovations
  can contribute to their own profitability.
• Call Options Repayment The company may want or
  be required to buy back the Funds stock at cost
  plus a certain premium.
• Clearly, it is the Funds aim to sell the
  investments it makes with a substantial increase
  in value.

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