Powerhouse Ventures LimitedInitial Public Offering August-September 2016

DisclaimerThe information contained in this presentation has been prepared by Powerhouse Ventures Limited (a company incorporated in New Zealand Company Number 1854 396 and registered as a foreign company in Australia with ARBN 612 076 169) (Powerhouse) and contains information relating to a proposed initial public offer of shares in Powerhouse (Shares).

This presentation and its contents have been distributed in confidence and may not be reproduced or disclosed to any other person except those within your organisation directly involved in considering the proposed transaction.

Upon request you must return promptly this presentation, together with any other materials received in connection with it, to Powerhouse without retaining any copies. Bligh Capital Securities Pty Ltd (Bligh Capital) and Lodge Partners Pty Limited (Lodge Partners) are the Joint Lead Managers to the offer of Shares. Bligh Capital and Lodge Partners (Joint Lead Managers) or their respective affiliates will receive fees for acting in this capacity.

This presentation and the information contained in this notice is not a recommendation, offer or invitation by any person to sell or apply for securities in Powerhouse in any jurisdiction and none of this presentation document or its contents shall form the basis of any contract or commitment.

This presentation is not a disclosure document under Australian law or under any other law. It is for information purposes only. Accordingly, this presentation document neither purports to be exhaustive nor contain all of the information which a prospective investor or you may require to make an investment decision and it does not contain all of the information which would otherwise be required by Australian law or any other law to be disclosed in a prospectus. Any invitation or offer to apply, buy or subscribe for securities in Powerhouse will only be made or extended through a disclosure document lodged with the Australian Securities and Investments Commission in the event that any such invitation or offer proceeds.

This summary of the public offer of shares in Powerhouse is provided to you for information purposes only. Any invitation or offer to apply, buy or subscribe for securities in Powerhouse will only be made or extended through a prospectus lodged with the Australian Securities and Investments Commission (ASIC) and such shares are intended to be quoted on the Australian Securities Exchange (ASX) in the event that any such invitation or offer proceeds. A prospectus is available for inspection and can be downloaded at the Company’s website at www.powerhouseventures.com/offer. Any investment decision should only be made on the prospectus lodged with the ASIC and the information in this document should not be relied upon as being a complete and accurate representation of Powerhouse, its business, its operations or its securities. Powerhouse, Bligh Capital and Lodge Partners and their respective directors, employees or authorised representatives disclaim all liability (including for negligence) arising out of or in connection with this document.

Anyone wishing to acquire Shares will need to complete the application form that will be in, or will accompany the prospectus. Persons should consider the prospectus in deciding whether to acquire the Shares.

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No representation or warranty, express or implied, is given as to the fairness, accuracy, completeness, likelihood of achievement or reasonableness of any forecasts, prospective statements or returns contained in the presentation. Such forecasts, prospective statement or returns are by their nature subject to significant uncertainties and contingencies. You should make your own independent assessment of the information and take your own independent professional advice in relation to the information and any action taken on the basis of the information. Any such forecast, prospective statement or return contained in the presentation has been based on current expectations about future events and is subject to risks, uncertainties and assumptions that could cause actual results to differ materially from the expectations described.

Neither Powerhouse ,Bligh Capital or Lodge Partners have any responsibility or obligation to inform you of any matter arising or coming to their notice, after the date of this presentation document, which may affect any matter referred to in the presentation.

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Powerhouse — at a glancePowerhouse Vision: To become Australasia's leading intellectual property (IP) commercialisation company

35%Unparalleled access to university-generated IP with sector experts embedded on-campus throughout New Zealand

Powerhouse generates superior shareholder returns: IRR 35% p.a.(1) since inception

Powerhouse provides broad portfolio exposure with the added benefit of an active management company included

Highly experienced management and Board in place to deliver growth

(1) Historical internal rate of return from 18 February 2009 (or the date of the initial investment in the Portfolio Company, if later) to 31 March 2016 - independently recalculated to the extent of Agreed Upon Procedures.

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$10b

What we do: Powerhouse aims to transform academic discovery into world changing commercial enterprises

ASX

Over A$10 billion of research funding deployed across Australian and New Zealand universities

Current investment positions within 19 portfolio companies: Typical shareholding between 25%-40%

Diverse investment portfolio across 4 key sectors: — Engineering and Cleantech— Agritech and Environmental— Medical and Healthcare— Digital and ICT

ASX listing September 2016 A$10-20 million IPO

19Powerhouse — at a glance

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Introduction

Impact Portfolio Opportunity Since 2010, Powerhouse has been establishing start-up companies based on university-generated research

Our model is hands-on. We provide more than just capital, adding expertise and support services plus access to an extensive network of advisors and talent

We are a long term, patient investor - investing at incorporation through to expansion stage

We have strong links to universities in New Zealand and a growing reputation in Australia

Powerhouse aims to develop globally-competitve businesses that will make a meaningful contribution to the economies of New Zealand and Australia

Powerhouse has a strong track record of success with a portfolio of 19 early-stage to mature businesses across four sectors

We achieve significant minority positions (typically 25%-40%) in our portfolio companies. We often control more than 50% with the additional influence from our co-investment partners

Powerhouse has built an outstanding portfolio of early-stage to mature companies, many of which are close to value creation events, across four key sectors:

– Engineering and Cleantech– Medical and Healthcare– Agritech and Environmental– Digital and ICT

This is an investment opportunity offering long term benefits for committed investors

Capital raised will be used to invest in new opportunities in New Zealand and Australia and further investment for continued growth of the existing portfolio

Through this capital-raise we will establish operations in Australia, forming new partnerships with leading universities

We have invested more than NZ$10m and attracted co-investment of more than NZ$30m for our portfolio to date

New Zealand's leading IP commercialisation company – transforming academic discovery into commercial enterprise

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Superior investment returnsPowerhouse offers a unique opportunity to invest in a new asset class formed by the commercialisation of IP through start-up companies

Key:

New investment

Value appeciation

Opening Fair Value

The Powerhouse portfolio historical internal rate of return has been 35% p.a.(1) since inception - leading other high profile equity indices.ASX All Ordinaries Accumulation Index 17.2% p.a. ASX 200 Accumulation Index 16.7% p.a. S&P 500 25.3% p.a.

(1) Historical internal rate of return from 18 February 2009 (or the date of the initial investment in the Portfolio Company, if later) to 31 March 2016 - independently recalculated to the extent of Agreed Upon Procedures.

Source: Powerhouse

Proforma Portfolio annual investment and Fair Value growth

New investment Value appeciation Opening Fair Value

Source: Powerhouse

NZ$20m

NZ$15m

NZ$10m

NZ$5m

FY2011 FY2012 FY2013 FY2014 FY2015 31 Mar 2016

0

Proforma Portfolio annual investment and Fair Value growth

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An actively managed, diversified portfolio

Engineering $12.8m Cleantech & 61.2%

Hydroworks 21.0%Invert 18.8%ArcActive 7.2%Solarbright 5.0%Veritide 3.1%Syft 2.9%Photonics 2.1%Koti 1.2%

Medical $1.4m& Healthcare 7.1%

MARS 3.5%Tiro 1.5%Avalia 1.0%Upstream 0.7%AuramerBio 0.2%Hi-Aspect 0.2%

Digital & ICT $3.1m 14.9%

Motim 10.6%Modlar 3.5%Fluent 0.8%

Agritech & $3.5m Environmental 16.8%

CropLogic 16.0%CertusBio 0.7%

Pre-seed $1.7m 8.4%

Photonics 2.1%Tiro 1.5%Koti 1.2%Avalia 1.0%Fluent 0.8%Upstream 0.7%CertusBio 0.7% AuramerBio 0.2%Hi-Aspect 0.2%

Post-seed $7.9m 38.1%

Hydroworks 21.0%ArcActive 7.2%MARS 3.5%Modlar 3.5%Syft 2.9%

Seed $11.1m 53.5%

Invert 18.8%CropLogic 16.0%Motim 10.6%SolarBright 5.0% Veritide 3.1%

(as at 31 March – NZD)

Sectors Stage

Powerhouse mitigates risk by spreading its investments across a variety of sectors and stages of business development.

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Initial public offering – key detailsPowerhouse proposes to list on the Australian Securities Exchange (ASX) in Q3 CY16. The ASX listing will allow Powerhouse to scale investment and expand into Australia.

Offer details (indicative) Minimum Maximum

Amount to be raised A$10m A$20m

Indicative market capitalisation A$30.8m A$40.8m

NTA (audit reviewed) NZ$1.14 A$1.07

Indicative Offer price per share NZ$1.14 A$1.07

Key Offer Dates

Prospectus Date 2 August 2016

Offer Open 17 August 2016

Offer Close 15 September 2016

Expected dispatch of share holding statements

26 September 2016

Expected commencement of trading of Shares on the ASX

28 September 2016

Offer Structure Offer Timetable

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Initial public offering – use of funds

Increase investments in existing portfolio companies

Invest in newly identified New Zealand and Australian IP-rich ventures

Provide for listing and capital raising costs

Broaden shareholder base Provide access to capital markets, adding

financial flexibility, supporting balance sheet growth and providing working capital requirements for the future

Minimum Subscription

Maximum Subscription

Increase investment in existing portfolio and new New Zealand and Australian IP rich ventures

A$5.767m A$15.286m

Provision of general working capital A$3.004m A$3.004m

IPO costs A$1.229m A$1.710m

Total A$10.000m A$20.000m

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Listed comparatorsWhile Powerhouse provides a unique investment opportunity within Australasia, public market funding of university IP is well established internationally. Major listed comparator companies provide compelling precedents for IP funding and commercialisation.

Name Listed since Market Cap Number of investments

Share Price: NTA/Share Premium/ (Discount)

IP Group 2003 £1,158m 96 17%

Imperial Innovations 2006 £582m 103 65%

Allied Minds 2014 £988m 23 250%

Mercia Technologies 2014 £89m 17 NA

Powerhouse 2016* A$41m 19 Par

Benchmarking: listed international comparators as at 30 April 2016

*Expected listing date 28th September 2016

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Commercialisation landscape

New Zealand Australia Strategic positioning

The New Zealand Government is strongly supportive of innovation

Powerhouse enjoys unparalleled access to NZ universities

Powerhouse is the largest of 3 accredited, government-approved technology incubators in NZ

We have Investment Managers assigned to each NZ university campus

The modus operandi of Powerhouse Investment Managers is to search for transformative, breakthrough technologies

In Australia, the Government has announced an innovation support package to support the 'Ideas' boom

There is a strong interest from Australian universities in the Powerhouse model

Powerhouse is currently reviewing IP from Australian universities

In Melbourne and Sydney alone, research funding for universities was A$5.7b in 2015

Powerhouse is strategically positioned to become the pre-eminent ASX-listed IP commercialisation company accessing the best of NZ and Australian university originated technologies

Powerhouse intends to establish a presence in Australia with IPO proceeds to support significant anticipated investment growth

Powerhouse will continue the commercialisation of university IP through start-up companies in both technology and bio-technology sectors

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Commercialisation landscape (research funding)Our goal is to support New Zealand and Australia to realise value from their investment in university research via the formation of new companies with global potential. Powerhouse works with universities rated in the top 500 world rankings (2015 figures shown below).

82 338 481-490

211 373

1

2010 ANNUAL REPORT

173

229 337 NZ$800m A$10,000m

Existing Potential

45 6746 42

Australia has 40 university commercialisation/technology transfer offices. Target examples include:

World Ranking

Annual spend on research and development in Australia's universities

World Ranking

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Strategic University Partnerships High Impact Innovation Powerhouse Expertise Deployed Listings

Overview

The Powerhouse Innovation Pipeline The Powerhouse Innovation Pipeline is a key differentiator in this investment proposition The journey from academic discovery to commercial success requires much more than capital

Pipeline Inputs

Pipeline Screening

Pipeline Transformation

Pipeline Outputs

Powerhouse strategically partners with research institutes to source intellectual property and embedding our sector experts on-campus (where possible)

Powerhouse filters and screens for the high impact innovations, providing the pipeline with risk-managed deal flow

Powerhouse deploys in-house management expertise as the businesses learn, adapt and focus on clearly defined commercial outcomes

Powerhouse leverages the commercial success of the business with the objective to optimise shareholder returns

Academic Discovery Risk-managed Deal Flow Validate / Learn / Adapt / Focus Enhanced Shareholder Returns, Commercial Success

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Strategic university partnerships

Powerhouse sector experts on campus

Significant research and development spend throughout Australia and New Zealand

Opportunities screened for high impact innovation

The Powerhouse Innovation Pipeline

Pipeline inputs

Powerhouse enjoys access to University generated intellectual property in New Zealand

Working in partnership with University technology transfer offices

On-campus locations (where possible) provide early identification of research with a commercial opportunity

Significant research and development landscape with billions per annum invested in academic discovery in Australia and New Zealand

Our sector experts search for high impact innovations

Transforming academic discovery into commercial enterprise

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The Powerhouse Innovation Pipeline

Pipeline screening

Powerhouse employs a rigorous screening process to identify high-impact innovations

New innovations are assessed for freedom-to-operate and intellectual property protection by in-house sector experts and external advisors

Our investment team recognise that customers purchase products and services to get a job done and they understand how customers value different solutions. They use this knowledge to identify the beachhead market

Powerhouse aims to make a limited number of new investments each year (5-10) to ensure appropriate focus and resource is applied to each venture

2 3 4 5 6 7determine the job-to-be-done, what are customers trying to do?

establish how customers value solutions, what outcomes are important and unsatisfied?

assess freedom to operate and barriers to entry

determine key technical and market assumptions and assess cost to verify

seek third party validation from world experts and local customers

rank the opportunity against the investment pipeline and criteria

identify technologies with potentially disruptive applications

1

Transforming academic discovery into commercial enterprise

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The Powerhouse Innovation Pipeline

Pipeline transformation

Transforming academic discovery into commercial enterprise

Invest a little, learn a lot Validate / Shape / Adapt / Focus

Powerhouse Expertise Deployed:IP / Legal / HR / Admin / Accounting / Finance / Sales / Marketing / Distribution / Governance / Corporate Advisory

Powerhouse creates (or assists to create) a venture and determines the first market and initial customer problem to solve

The performance of new technologies when transferring from the lab to the customer is highly uncertain. We adopt an approach with investment to validate the technical performance through customer trials

Investments are made directly from the Powerhouse balance sheet providing patient capital to Portfolio Companies

Patient capital means that optimal returns can potentially be generated rather than a need to adopt aggressive, high-risk and capital-intensive, growth plans often necessary with closed-end funds

A systematic approach to investment focused on reducing areas of highest risk first

Early revenues through paid customer trials or consulting services

Generally, Powerhouse recruits the management team to lead each newly incorporated venture. The initial team focuses on technical validation and customer trials. As the company validates the value proposition and moves into the growth phase, changes are made to the management and board

Early trials provide valuable insight into the needs of the customer often resulting in an adaptation to the business plan

Look for forgiving customers in the beachhead market

Clear road-map to international market opportunity

Following confirmation of a compelling value proposition, Powerhouse works alongside the management team to commercialise

Patient Capital

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Transforming academic discovery into commercial enterprise

Structure / Management / Governance / Expertise

Leverage / Growth / Corporate Advisory / International Expansion / Commercial Enterprise

Powerhouse Expertise Deployed:IP / Legal / HR / Admin / Accounting / Finance / Sales / Marketing / Distribution / Governance / Corporate Advisory

Management is actively involved with Portfolio Companies through regular secondment of key staff into selected Portfolio Companies

It takes high-quality, motivated management teams to build a successful business. We support our Portfolio Companies with recruitment through access to our networks of executive talent

Powerhouse is actively involved in the appointment of skilled Portfolio Company Board members

Powerhouse’s expertise is deployed across all operational disciplines to keep capital requirements low

A disruptive go-to-market strategy for innovations with a well-defined road map developed for expansion into international markets

Where justified, further capital investment is deployed to enable the business to compete internationally

Powerhouse integrated business model provides Powerhouse with insight into leveraging early-stage research and turning it into substantial, high-quality businesses. This end-to-end capability is not replicated in the NZ or Australian listed market

Patient Capital

The Powerhouse Innovation Pipeline

Pipeline transformation (continued)

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The Powerhouse Innovation Pipeline

Pipeline outputs

Superior shareholder

returns

Listing opportunities

Attractive and profitable

commercial enterprises

Global growth opportunities

What does the Innovation Pipeline deliver?

The Powerhouse Innovation Pipeline aims to deliver commercial enterprises

Portfolio Companies that transition through the Powerhouse Innovation Pipeline are aiming for international expansion and growth

Powerhouse aims to deliver embedded optionality for future deals through research relationships

Powerhouse provides investors with an opportunity to gain exposure to research opportunities from a wide range of technology sectors

The Powerhouse process seeks to mitigate the uncertainty involved in early stage investment

Portfolio diversification reduces overall investment risk

The Powerhouse Innovation Pipeline aims to produce high growth companies that will actively seek a liquidity event

Listings are sought as they will provide a clear pathway to market-led valuations

Transforming academic discovery into commercial enterprise

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A diversified portfolio

Pre-seed Seed Post-seed

Stage Diversity

Targets: 80% portfolio

success rate

50% tech and 50% biotech by value

20% by number becoming public companies (50% by value)

We have a highly advantageous position to assess the merits of further investment into portfolio companies given our well-established and in-depth understanding.

Co-investment capital attracted to the venture. Powerhouse looks to maintain its position when the investment is justified.

Limited number of ventures entering pipeline to ensure sufficient focus and attention (5–10 per annum)

Low valuation owing to high perceived risk. A small investment gains a significant shareholding.

Sect

or d

iver

sity

Digital & ICT Fluent Motim Modlar

Tech

nolo

gyB

iote

chno

logy

Koti Photonic

Invert Solar Bright Veritide

ArcActive HydroWorks Syft

Cleantech and Engineering

Agritech and Environmental

CertusBio CropLogic

Medical and Healthcare

AuramerBio Avalia Hi-Aspect Upstream Tiro

MARS

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Powerhouse portfolio( as at 31 March 2016 - NZD )

$21m

Mars

CropLogic

Invert

SolarBright

Veritide

Koti

ArcA

ctive

Photonic

Tiro

Motim

Portfolio Value

HydroW

orks

Syft

Modlar

Avalia

Upstream

CertusBio

Fluent

The weighted average age of valuations is 1.1 year

recent valuations

old valuations

Key:

Timeline of most recent revaluation of portfolio companies.

Pre-seed

Seed

Post-seed

Powerhouse has an established portfolio of 19 ventures. The Portfolio valuation is assessed using the International Private Equity and Venture Capital Valuation Guidelines.

Powerhouse uses a conservative valuation approach resulting in significant embedded upside value in the portfolio.

The valuation of all but one of the companies is based on the price of their last investment validated by majority inflow of independent capital.

Dec 09 Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Dec 15 Mar 16

Auram

erBio

Hi-A

spect

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HydroWorks turbines are “rocket ships in terms of the turbine world.” Deion Campbell, General Manager of Generation, TrustPower, in Hawkes Bay Today, 5 April 2014

Globally, environmental pressures are driving the increase in hydro-generation of electricity.

HydroWorks — Case Study

World-class hydroelectric turbine design solutions.

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CropLogic — Case Study

High-volume crop growers and processors have significant challenges ahead in order to meet rising food-demand. Agronomy information and advice.

Transforming the agronomy service industry

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The incumbents The innovators

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Within the food-processing industry, food-safety is driven by eliminating bacterial contamination which can be harboured by cracks in industrial vessels such as tanks, dryers, silos.

Remote non-destructive testing and inspection

Invert Robotics — Case Study

The food industry is driven by food-safety. Detection of harmful micro-organisms through improved process control leads to higher-quality food, with better shelf-life and fewer product-recalls.

Real-time bacteria detection.

Veritide — Case Study24

New information from novel x-ray CT imaging techniques enables clinicians and preclinical researchers to better understand health problems and develop new treatments.'Colour' x-ray imaging technology.

MARS Bioimaing — Case Study25

Kerry McDonaldChairman, Non-Executive Independent Director

John WalleyNon-Executive Non-Independent Director

John has extensive CFO, COO and general management experience including HR, IT and legal responsibilities. He has extensive board level experience and is a director of HydroWorks Limited.

Kerry is an experienced company director and advisor with experience in a wide range of private and public sector activities in New Zealand and Australia. He is also Chairman of a Top 300 ASX Listed company.

John has international experience in research, development, manufacturing and distribution companies in the marine, electronics and software industries. He is a director or chair of several companies and has a number of investments in early-stage companies. John is a Director of HydroWorks Limited.

Rick ChristieNon-Executive Independent Director

Steve WilsonNon-Executive Non-Independent Director

Paul VineyExecutive Non-Independent Director

Stephen HampsonManaging Director Non-Independent Director

John HunterNon-Executive Independent Director

Rick is a professional Director and Chairman with experience in both the public and private sectors. His many science and technology related appointments include Chairman of AgResearch Ltd and Director of the Foundation for Research, Science and Technology. Rick is past Chairman of a Top 300 ASX Listed company.

Steve has 33 years experience as CEO of both public and private companies. He is currently Executive Director at a significant New Zealand technical plastics manufacturer and exporter. Steve is also a Member of The New Zealand Order of Merit. Steve is Chairman of the Powerhouse Portfolio Committee.

Refer to page 27.

Refer to page 27.Dianne has 20 years experience in various management and governance roles in the tertiary education, science and health sectors. She is the immediate past Chief Executive of the Royal Society of New Zealand.

Dianne McCarthyNon-Executive Independent Director

Board of Directors

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Management

Colin DawsonChief Operating Officer

Andy MathesonChief Investment Officer

Stephen HampsonManaging Director

Stephen's career has been dedicated to transforming new knowledge into commercial success. Stephen’s commercialisation career in Europe included fast-growth execution and business improvement in several acquired companies he was appointed to lead. Outcomes achieved include the trade sale of one of these companies and domination of a global niche in another. Returning to New Zealand, Stephen was inaugural CEO of the award winning Canterbury Innovation Incubator (Cii) before establishing Powerhouse in 2006. In these roles, he has overseen the incubation and growth of more than 50 new companies.

Following ten years in veterinary clinical practice Colin held a number of senior executive positions in the primary, secondary and tertiary healthcare sectors in NZ. He was a founding partner of a health consulting and investment banking firm and was the inaugural CEO of the commercialisation arm of a New Zealand university. Colin is a Chartered Fellow of the NZ Institute of Directors and has governance experience with a wide range of private and NZX-listed technology companies.

Andy has held senior executive roles in energy, infrastructure and clean-tech companies. He has worked as CEO, MD and Board Director in start-up businesses through the pre-seed to exit stages over 10 years. Before this Andy held international marketing and business development roles targeting the global industrial and utilities sector for 10 years. Prior to joining Powerhouse Ventures, Andy worked at a significant New Zealand investment company; a substantial shareholder of an NZX company with a market capitalisation of NZ$1.7 billion.

Paul VineyExecutive Director Chief Financial Officer Company Secretary

As a career finance and governance professional, Paul has worked in Australian industrial and financial services organisations for over 20 years. Paul has specialised in financial and management accounting, value creation, mergers and acquisitions and corporate governance. Prior to joining Powerhouse Ventures, Paul was Chief Financial Officer/Company Secretary at a diversified ASX-listed banking group, which had a market capitalisation of over A$400 million and an asset footprint of over A$5.3 billion.

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Powerhouse Ventures LimitedPortfolio Appendix

(All figures NZD unless otherwise stated.)

Post-seed companies

ArcActive is developing a carbon fibre negative electrode for lead acid batteries to improve fuel economy in Start-Stop/Micro-Hybrid vehicles (MHV). The MHV is expected to be the mass-market car for at least 20 years with demand estimated to grow from 3m batteries in 2010 to 100m in 2020 – a US$12b market.

ArcActive has one of only a handful of technologies that have real prospects of addressing the market’s cost and recharge rate performance requirements. The electrodes are based on research pioneered at the University of Canterbury into continuous production of carbon nanotubes. The carbon fibre material may be used in a number of potential products, but ArcActive’s initial focus is on the battery electrode.

Engineering and CleantechNil revenue $23.3m enterprise value 12 employees 6.4% (6.4%) PVL (PVL + co-investors)

HydroWorks is a fast growing company operating in the clean energy sector, specialising in the design, manufacture and installation of hydroelectric turbines and related equipment for electricity generation. Using world-class turbine design methods, HydroWorks provides a range of both customised and standardised, scalable design products and solutions.

Operating with a team of around 60 staff, HydroWorks is active in several countries, including New Zealand, Australia, Fiji and Tahiti. Its growth strategy includes targeted international expansion to Asia and the Americas where the addressable markets are substantial.

Supported by an experienced and committed Board, the company boasts an outstanding management team with proven capability to achieve the company’s vision.

Engineering and Cleantech>$10m revenue $19.3m enterprise value 55 employees 22.8% (58.5%) PVL (PVL + co-investors)

Pharmaceutical companies currently spend ~US$1.5b developing each new drug. It can take 12–24 months for the pre-clinical trials of ~250 prospective drugs, with only 5 proceeding to clinical trials. These companies have a strong need for tools that will speed up this elimination process and aid getting drugs onto the market quicker.

MARS Bioimaging has developed a small animal x-ray molecular imaging system that has spectral resolution, using CERN-developed detector technology. This additional “colour” information provides new imaging capabilities.

Having initially targeted key opinion leaders, MBI has launched its first commercial release system and is now building a human scanner.

Medical and Healthcare<$1m revenue $8.5m enterprise value 5 employees 8.5% (12.8%) PVL (PVL + co-investors)

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Post-seed companies

The architecture and construction industry is going through a rapid shift from 2D CAD (Computer Aided Design) to modelling buildings in full 3D BIM (Building Information Modeling).

Modlar’s core product is a network which connects architects to building products manufacturers. This allows architects to more easily discover, discuss and specify real world products into their projects in full 3D. This in turn speeds up the design process and reduces errors on site.

Having raised ~$3M of NZ Venture Capital, the company is now rapidly expanding into the North American market. Modlar is currently used by 130,000+ professionals globally including 80% of the world’s top 100 firms.

Digital and ICT<$1m revenue $5.5m enterprise value 6 employees 13.5% (26.4%) PVL (PVL + co-investors)

Volatile organic compounds (VOCs) are organic chemicals, many of which are dangerous to human health or cause harm to the environment. However, detection and monitoring is difficult.

Syft uses technology developed at the University of Canterbury and known as Selected Ion Flow Tube Mass Spectrometry (SIFT-MS) to develop, manufacture and market solutions for analysing VOCs.

Solutions are in place for multiple markets including: soil and mud samples in the oil and gas sector; and environmental air analysis for example in container shipyards, vehicle emissions, landfill and more.

Engineering and Cleantech~$6m revenue $38.5m enterprise value 28 employees 1.6% (1.6%) PVL (PVL + co-investors)

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High-volume crop growers and processors have significant challenges ahead in order to meet rising food-demand. Growers need to optimise resources and processors need to plan to ensure efficient processing.

CropLogic delivers specialist agronomy services to growers using technology developed over 30 years at The New Zealand Institute for Plant & Food Research. CropLogic brings together crop science, environmental data and agronomic expertise to offer input for daily decision making that improves on typical "rule of thumb" recommendations. In addition to its expert system, CropLogic provides the telemetry required to gather field data.

Following more than 65,000 acres of field trials in the USA, NZ, Australia and China, CropLogic is embarking on strategic acquisitions of agronomy services companies in target countries.

Agritech and Environmental<$1m revenue $10.3m enterprise value 4 employees 32.5% (64.6%) PVL (PVL + co-investors)

Within the food-processing industry, food-safety is driven by eliminating bacterial contamination which can be harboured by cracks in industrial vessels such as tanks, dryers, silos. Historically these vessels have been serviced by scaffold or rope-based inspections, a hazardous process which is prone to errors.

Invert Robotics provides remote inspection services to global blue chip customers using its proprietary robotics technology. The mobile climbing robot system allows identification, recording and reporting of cracks in mission critical infrastructure.

Invert is currently expanding geographically into Europe, following success with inspection of milk silos and dryers in Australasia.

Engineering and Cleantech<$1m revenue $9.9m enterprise value 6 employees 39.8% (68.6%) PVL (PVL + co-investors)

The global mobile marketing sector is a high-growth area that is seeing innovation as technology and marketing mix, with consumers becoming increasingly ‘connected’ and smartphone technology becoming almost ubiquitous in the modern world.

Motim Technologies has developed a range of mobile interaction technologies, based on expertise in computer vision, augmented reality, image-recognition and mobile-software development alongside deep creative experience and expertise.

Securing direct relationships with major global brands is validation that Motim has a special proposition and the ability to execute and deliver on a global stage.

Digital and ICT<$2m revenue $5.3m enterprise value 8 employees 41.8% (62.8%) PVL (PVL + co-investors)

Seed companies

31

SolarBright is positioned to capitalise on the LED and Solar LED lighting phenomena that are changing the way the world is illuminated.  

SolarBright is taking its innovation and manufacturing excellence to the international market with customers in over 20 countries, including the World Bank, Government Agencies, Local Authorities and blue-chip companies.

SolarBright's approach of innovation and collaboration has led to use of its patented products in a wide range of applications and markets – from the supply and installation of solar street lighting in Pacific islands to development and manufacture of PATeye, the world’s first commercially-available solar-powered ice-detection road stud.

Engineering and Cleantech<$1m revenue $2.7m enterprise value 6 employees 38.4% (56.2%) PVL (PVL + co-investors)

The food industry is driven by food-safety. Detection of harmful microorganisms through improved process control leads to higher-quality food, with better shelf-life and fewer product-recalls. Annually in the US, one in six people become ill and there are 200,000 hospitalisations and 4,000 deaths, all attributable to food poisoning.

Veritide is the creator of disruptive technology for real-time detection of faecal contamination on meat within meat processing plants. Providing both portable hand-held devices and fixed full carcass scanner technology Veritide scanners can be integrated throughout each stage of the food processing line.

Working closely with major meat processors in Australasia, Veritide’s platform technology has many other applications in food, health and bio-safety areas.

Engineering and CleantechNil revenue $3.5m enterprise value 3 employees 18.3% (61.3%) PVL (PVL + co-investors)

Seed companies

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Pre-seed companies

Cancer immunotherapy helps to stimulate a patient’s own immune system to kill cancerous tissue. It is a new class of treatment, complementary to traditional treatments (surgery, radiation and chemotherapy). It offers a more targeted approach to eliminate tumour cells while minimising side-effects for the patient.

Avalia Immunotherapies has developed a novel technology platform to generate therapeutic vaccines for cancer immunotherapy. The new technology can also be used to make prophylactic vaccines for the prevention of infectious disease.

Avalia Immunotherapies intends to build a product pipeline and partner with larger biotech or pharmaceutical companies to progress new treatments into the clinic.

Medical and HealthcareNil revenue $1.1m enterprise value 3 employees 18.5% (18.5%) PVL (PVL + co-investors)

Increased industrial efficiency and tighter environmental regulations are driving the global process analytical instrumentation market, currently worth US$2.8b and projected to grow exponentially.

CertusBio’s flagship biosensor technologies combined with process control systems will have the ability to make real-world efficiency gains in the primary industries across New Zealand and overseas. Analysis and shaping has revealed an opportunity from multiple research projects.

Detecting lactose in dairy processing plants is a customer need, and rapid detection of biological oxygen demand (BOD) is another. Both can be solved using hi-tech biosensor solutions emerging from the region’s research organisations.

Agritech and EnvironmentalNil revenue $590k enterprise value 2 employees 25.3% (31.4%) PVL (PVL + co-investors)

AuramerBio is a point of care biosensor company. Its novel technology allows for the accurate measurement of extremely low levels of biologically relevant molecules at the point of care. This will allow health professionals to obtain the answers and make treatment decisions, all within the time-frame of a patient consult.

AuramerBio’s first product is being developed to monitor fertility hormones at levels not currently possible with existing methods. The technology can be rapidly adapted to measure a wide range of targets in liquid samples (saliva, urine, blood, environmental water) providing access to a large number of future market opportunities.

Medical and Healthcare$20k revenue $650k enterprise value 3 employees 7.7% (7.7%) PVL (PVL + co-investors)

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Pre-seed companies

Coatings that self clean, destroy bacteria and viruses as well as pollutants in air and water, simply by being exposed to light.

Koti Technologies produces highly active, photo-catalytic coatings via several novel application methods which produce coatings with exceptional performance characteristics. Potential applications include antimicrobial healthcare and food production surfaces, air and water treatment and industrial catalysis applications.

Koti Technologies (translation from Maori is “to cloak or cover”) is a University of Canterbury spin-out commercialising ceramic coating technology developed by Professor Krumdieck and her research team.

Engineering and CleantechNil revenue $450k enterprise value 2 employees 56.7% (80.0%) PVL (PVL + co-investors)

Over 2 Billion people use English to communicate on a regular basis every day. The negative impact of substandard english proficiency is significant and felt worldwide on both an economic and social level.

Fluent is combining new linguistic science with “big data” and machine learning to build an artificial intelligence platform that can provide improved and faster analysis of verbal communication skills and placement against real-world expectations.

This technology applies to a range of applications and industries. As a first step to market Fluent is initially applying it to language learning through a tool that will guide English language learners around the world towards real-world fluency.

Digital and ICTNil revenue $750k enterprise value 6 employees 21.3% (21.3%) PVL (PVL + co-investors)

Hi-Aspect is developing a range of new ingredients for the cosmetics and healthcare industries, based on its protein fibrils technology. These industries have an increasing need to use natural materials with sophisticated functional properties instead of synthetic nanomaterials and polymers, which can be costly, toxic and persist in the environment.

The fibrils form strong gels that bind and release active ingredients in a controllable way, while holding them close to the site of action. With dimensions of 9–50 nanometres across and up to 1000 nanometres long, the fibrils have a high surface area and act as a scaffold. They can be made from a number of proteins and tailored to different applications.

Medical and HealthcareNil revenue $50k enterprise value 2 employee 99.8% (99.8%) PVL (PVL + co-investors)

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Pre-seed companies

A large number of patients present in Emergency Departments (ED) each year with chest pain. One in eight has a life-threatening disease. Causes for this pain are many; heart, lung, gastrointestinal, bone, muscle and nerve problems. ED physicians require rapid and accurate methods to determine which patients require immediate life saving medical treatment.

Upstream Medical Technologies (UMT) has a novel technology platform built on many years of research. This provides a new class of diagnostic tests designed for ED use. These tests detect life threatening heart and associated diseases. The lead assay can detect imminent heart attack BEFORE tissue damage occurs.

UMT is building a pipeline of tests that enable earlier diagnosis for improved patient recovery.

Medical and HealthcareNil revenue $1.4m enterprise value 4 employees 11.1% (11.1%) PVL (PVL + co-investors)

Many industrial and commercial operations manage controlled environments, where variables such as temperature, humidity and air quality need to be maintained within specific limits and dangerous substances such as toxic gases need to be contained.

Photonic Innovations uses a combination of ultra reliable, connected sensors combined with cloud based data management to offer solutions that address these challenges with minimal human intervention. Under a recurring revenue business model, PIL will monitor environmental variables, take corrective action and use the data to provide added value services such as predictive maintenance and energy management. The first target market is cold stores where patented highly reliable laser-based detection of gas leaks forms the platform for an Internet of Things business.

Engineering and CleantechNil revenue $1.0k enterprise value 3 employees 41.1% (74.6%) PVL (PVL+co-investors)

Mammography is the dominant method of breast cancer screening in New Zealand.  However, mammograms are much less effective with radio-dense tissue (affecting 40% of the screened population).

The University of Canterbury has developed a painless, zero-radiation screening technology unaffected by radio-dense tissue.

Tiro Medical will develop technologies to enable more accurate diagnoses and treatments across a range of medical areas, improving care whilst reducing expenditure. Tiro’s initial focus will be on the breast screening market, developing the University’s technology for use as a supplementary scan to mammography of radio-dense tissue.

Medical and HealthcareNil revenue $835k enterprise value 3 employees 38.3% (38.3%) PVL (PVL + co-investors)

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Key investment risks

Profitability on sale or spin-out of Portfolio Companies

Strategy risk

Powerhouse primarily makes investments in early stage companies and as such, technology and market demand at this stage is typically unproven. Portfolio Companies may also be reliant on regulatory approval and will likely require funding at various stages of development and commercialisation technologies. If these are not secured the Portfolio Company may fail and/or be unable to develop the technology

Powerhouse generates limited revenue, is cash flow negative and has no record of generating gains or revenues through the sale or spin-out of any of its Portfolio Companies

The Company’s success and profitability is reliant upon the ability to devise and maintain a Portfolio that achieves the Company’s investment objectives

Company’s investments are at an early-stage Concentration risk

Control or influence over Portfolio Companies

Key person risk

The Company’s investment strategy is focused on a relatively small number of companies. As such, the investment portfolio is likely to be much more volatile than a diversified portfolio and may be significantly impacted by events impacting individual Portfolio Companies

Powerhouse may not be able to secure the rights it seeks when investing in Portfolio Companies or, where it does, it may be compelled to agree to potentially onerous terms and conditions in order to secure the relevant intellectual property

If Powerhouse loses one or more of its senior management team it’s business may be severely disrupted or its financial condition and results of operations may be materially adversely affected

Competition for new investment opportunities

New investment risk

There are a number of competitors seeking to provide commercialisation services to universities in New Zealand and even more so in Australia

The Company may consider acquisitions and developments that it believes have the potential to add value to the Portfolio, but there can be no guarantee that any proposed acquisition or development will be completed or be successful

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Thank youContact details: Stephen Hampson Managing Director+64 27 227 9854 stephen.hampson@powerhouse-ventures.co.nz

Paul Viney Executive Director CFO/Company Secretary+64 21 084 72029 paul.viney@powerhouse-ventures.co.nz

Greg Slade Investor Relationsgreg@sladeir.com +61 48 891 7882

Joint Lead Managers

Lodge Corporate

Jo May Director, Equity Capital Markets+61 41 253 7005 j.may@lodgepartners.com.au

Bligh Capital

Tim Powditch Partner+61 41 490 9369 tim.powditch@blighcapital.com