Inca Digital Printers Ltd Nigel R Puttergill Inca

Inca Digital Printers Ltd. Nigel R. Puttergill

Inca Digital Printers – the beginning • Founded May 2000, by Bill Baxter (CEO) and six colleagues • Purpose – to develop, build and sell industrial / commercial UV inkjet printers • Spin-off from Cambridge Consultants (one of many) 18 th April, 2007 - KEF VI 1

Venture Capital Funded At launch (May 2000) Inca was valued at £ 6 M Cambridge Consultants Ltd (CCL) 7 people + IP £ 600 k CCL 15% ESOP AVP 35% Advent Venture Partners (AVP) £ 1. 5 M Founders 39% A second round raised £ 2 M leaving: Advent Venture Partners Small financial investor Cambridge Consultants Founders ESOP 36% 3% 14% 37% 10% 18 th April, 2007 - KEF VI 2

Financials Inca grew quickly and is cash neutral Sales Profit/los s Staff Year 1 £ 0. 8 m Year 2 £ 5. 1 m Year 3 £ 11. 3 m Year 4 £ 14 m Year 5 £ 19 m (£ 1. 4 m) (£ 2. 7 m) £ 0. 3 m £ 1. 0 m £ 1. 5 m 22 65 90 105 130 18 th April, 2007 - KEF VI 3

The Products & Awards Columbia Turbo Spyder 320 Queen’s Award for Enterprise: International Trade - 2005 Queen’s Award for Enterprise: Innovation - 2005 18 th April, 2007 - KEF VI 4

The Exit NEWS RELEASE Dainippon Screen acquires Inca Digital Printers Acquisition links innovative wide format digital inkjet specialist with world’s leading manufacturer of equipment for the digital prepress, printing, semiconductor and flat panel display industries. 2 nd June 2005 : Today Dainippon Screen Mfg. Co. , Ltd (Kyoto, Japan) announces that it has acquired Inca Digital Printers, the specialist wideformat digital inkjet printer manufacturer, in an agreement totaling UK pounds products perfectly. Significantly, Inca’s expertise gives us access to important new markets in industrial printing and packaging. By combining Inca’s expertise in wide format inkjet printing, with Screen’s considerable experience in the media technology, semi-conductor and flat-panel display industries we can further strengthen and grow Inca and Dainippon Screen’s businesses, while working together to develop new applications across multiple sectors in the future. ” 18 th April, 2007 - KEF VI 5

Dainippon Screen Mfg. Co. , Ltd. Kyoto based manufacturer of capital equipment for: • Graphic arts • Semiconductor • Flat Panel • Precision measuring equipment • Revenue - $2. 46 billion 18 th April, 2007 - KEF VI 6

Why Dainippon Screen acquired Inca Digital? • Investing in Inkjet for the future of graphic arts business • Investigating inkjet technology for applications in printed electronics and flat panel • Inca has advanced UV inkjet know how • Inca products address new market segment for Screen (Graphics) • Screen recognized the importance of the inkjet community in Cambridge 18 th April, 2007 - KEF VI 7

The importance of Cambridge to Inca’s success • Easy to form a spin-off company in Cambridge • It’s an established process • There is local expertise • Specialized legal resources (IP & company set-up) • Cambridge has high profile for VC companies • Tax incentives (EMI & EIS) • Large pool of technical resource (people) 18 th April, 2007 - KEF VI 8

Thank you for your attention 18 th April, 2007 - KEF VI 9