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CEE SATELLITE BROADBAND INTERNET OPPORTUNITY

IN PARTNERSHIP WITH

PREFINAL VERSION 7

THE VISIONNETSATONE WILL BECOME THE LEADING SATELLITE BROADBAND COMPANY IN CEE

THE MISSIONBRIDGING THE DIGITAL DIVIDE WITH AFFORDABLE BROADBAND INTERNET VIA SATELLITE

NetSatOne IS UNIQUELY POSITIONED TO OFFER HIGH QUALITY SATELLITE BROADBAND INTERNET IN CEE1, TURKEY AND UKRAINE2

The Vision Investment Highlights Market Potential

TechnologyThe Partners Business Model

The Product Financials

Timeline & SWOTBackground

(1) CEE (15 countries) will be covered by HYLAS1 (launch in mid-November 2010)

(2) Turkey and Ukraine will be covered by HYLAS2

Countries to be covered by satellite HYLAS1 – roll-out in two consecutive phases (Jan-11, Sep-11)

TR and UA to be covered by HYLAS2 – roll-out in Oct-12

UA

TR

RO

PL

HU

HR

SK

BG

RS

PREFINAL VERSION 7

Raiffeisen Investment has been jointly retained by NetSatOne s.r.o. and Avanti plc to explore funding options for a satellite broadband venture in the CEE region

To this end, NetSatOne seeks to attract an equity investment of at least EUR 12.5m

NetSatOne intends to launch satellite broadband services in various CEE countries in January 2011

Big differences remain in the availability of broadband internet infrastructure in Central and Eastern Europe, which still has a substantially lower broadband coverage than Western Europe. In addition, non-urban areas are lagging far behind cities

NetSatOne is uniquely positioned to succeed in this venture as it will have quasi-exclusive access to Avanti’s new Ka-band satellite HYLAS 1 whose launch is scheduled for mid-November 2010

While satellite broadband has been around for quite some time, this new generation of satellites with its superior technological capabilities (speed, capacity, cost) has to be considered a true game changer

TRANSACTION BACKGROUNDThe Vision Investment Highlights Market Potential




THE PROPOSED VENTURE

HYLAS 1 & HYLAS 2

B2C customers in all HYLAS 1&2 countries

AND BEYOND

2011 201x

Launch of HYLAS1 Launch of HYLAS2

2012Establish B2C business model and marketing approach

Establish sales channel infrastructure for B2C expansion

700 internet cafes and B2B customers

57,000 B2C customers

45,000 White-label customers

Establish B2C business model in HYLAS 2 countries, scale-up operations in existing HYLAS 1 markets

1,000 internet cafes and B2B customers

240,000 B2C customers

125,000 White-label customers

PHASE 1

HYLAS1

Bandwidth /capacityUsed: 1.0Gbps

Business Model:B2B/internet Café,

White-label product for DTH playersB2C in selected countries

HYLAS1 & HYLAS2

Bandwidth /capacityUsed: 3.7Gbps

Business Model:Scale-up of B2C in core Eastern European

countries covered by HYLAS1, roll-out in Ukraine and Turkey (covered by HYLAS2)

PHASE 2

PREFINAL VERSION 7

STRONG PARTNERSThe privileged partnership with Avanti ensures a virtual monopoly on Ka-band satellite bandwidth in the region. In addition, Hughes, the leading U.S. satellite broadband provider, ABeam Consulting, an international management consultancy with substantial CEE experience, and possibly the EBRD (European Bank for Reconstruction and Development), will contribute resources and know-how to ensure the success of the NetSatOne project

KEY INVESTMENT HIGHLIGHTS

I

PREFERENTIAL ACCESS TO GAME-CHANGING TECHNOLOGYNetSatOne will source its satellite bandwidth from Avanti, the operator of HYLAS1, the first European Ka-band spot beam satellite which is to be launched in mid-November 2010. Avanti will grant NetSatOne a substantial discount in its first three years of operations. In the US, Ka-band satellite broadband has proven a veritable game changer as it is far superior in terms of quality and cost to conventional satellite internet solutions. Thus, NetSatOne will be in a position to field a product far superior to that of existing players

III

SUPERIOR PRODUCTWinning combination of preferential access to new technology, a product mix tailored to customer needs, and competitive pricing

IV

PROVEN BUSINESS MODEL GROUNDED IN SOUND MARKET RESEARCHRobust bottom-up estimates for key markets feed into a business model which has already been successfully

implemented by NetSatOne’s parent in the German marketV





VAST MARKET POTENTIAL50 million citizens in Eastern Europe are not covered by broadband, approx. 30 million of which live in rural areasII

PREFINAL VERSION 7

STRONG PARTNERSNetSatOne HAS SECURED THE SUPPORT OF POTENT PLAYERS

STRATEGIC PARTNERS

A range of strategic partners will ensure a successful business launch of NetSatOne:

AVANTI COMMUNICATIONS, the operator of the first European satellite to carry a spot beam satellite broadband system (HYLAS1 to be launched in November 2010)

Avanti has signed an exclusive bandwidth contract at very favourable conditions with NetSatOne. Avanti’s contribution to the proposed venture will be in form of a substantial discount on the satellite bandwidth provided to NetSatOne

HETAN TECHNOLOGIES, the parent company of NetSatOne and established provider of bi-directional broadband satellite services, will provide experienced management resources as well as its intelligent bandwidth management system and operational support system

FILIAGO, Germany’s leading satellite internet provider, has signed a term sheet under which it will be merged into HETAN, conditional, amongst others, upon satisfactory conclusion of due diligence and the raising of sufficient capital. Filiago’s entire customer base of 10,000 subscribers will be migrated into NetSatOne

EBRD, the largest private equity investor in Eastern Europe, is a key enabler for promoting and driving the project with local governments

The EBRD shows strong interest in contributing to the funding of NetSatOne

ABEAM CONSULTING, a global management consultancy with strong expertise in international market entries and an excellent network of telecom industry experts in Eastern Europe

ABeam has committed itself to play an instrumental role in the roll-out of NetSatOne’soperations

HUGHES is the leading provider of high-speed satellite internet access in the U.S.

NetSatOne is in advanced talks for a strategic cooperation with Hughes. Hughes will contribute its expertise in distribution, logistics, installation services and billing. Further areas of collaboration and support could be vendor financing and equipment leasing

I





KEY STRATEGIC PARTNER

OPERATIONALPARTNERS

SHAREHOLDERS

EBRD Investor HETAN

HETAN + FiliagoAssets

Filiago

AVANTIHYLAS1HYLAS2

ABeamConsulting

Hughes

HETAN / Filiagomerger

PREFINAL VERSION 7

VAST MARKET POTENTIALMARKET ANALYSIS & PRIORITISATION

Category Weighting 30.0% 7.5% 7.5% 5.0% 30.0% 10.0% 7.5% 2.5%

Coun

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Albania 2 2 34 25 91 53 5 8 66 82 0

Armenia - 4 27 21 99 18 4 5 100 0 0

Azerbaijan - 3 31 33 97 61 12 17 30 0 0

BiH 3 3 32 26 76 40 5 10 58 82 0

Bulgaria 2 3 31 44 48 33 2 8 38 82 0

Croatia 2 2 40 65 44 46 4 6 43 95 0

Czech Republic 2 1 44 88 19 23 6 6 54 95 0

Georgia - 4 26 16 90 100 6 9 38 0 0

Hungary 1 2 37 67 17 14 3 4 56 95 0

Lithuania 2 3 31 59 16 15 2 4 32 95 0

Moldova 3 4 26 10 85 56 6 11 44 62 0

Montenegro 3 4 30 41 53 35 1 1 59 62 0

Poland 1 1 54 63 41 21 34 57 49 95 0

Romania 1 2 41 44 45 42 13 31 38 95 0

Serbia 2 3 30 38 78 31 9 14 37 25 0

Slovakia 1 2 44 77 47 21 4 10 54 95 0

Slovenia 2 1 45 100 0 12 1 2 64 95 0

Macedonia 3 4 25 33 58 45 2 3 50 25 0

Turkey 1 1 61 44 63 25 100 100 59 0 0

Ukraine 1 1 45 24 83 46 66 65 50 0 0

Indexed to best value = 100

MARKET PRIORITISATION & ENTRANCE

Fixe

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Ave

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(m

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Albania 2.0% 177.2% 2.9 1.7

Armenia 0.2% 59.9% 2.4 1.0

Azerbaijan 0.7% 203.1% 6.6 3.5

BiH 5.0% 132.1% 3.0 2.0

Bulgaria 11.1% 109.7% 1.2 1.6

Croatia 11.9% 152.3% 2.3 1.3

Czech Republic 17.1% 76.8% 3.3 1.2

Georgia 2.2% 332.2% 3.2 1.9

Hungary 17.5% 46.4% 1.6 0.8

Lithuania 17.8% 49.5% 1.1 0.8

Moldova 3.2% 185.4% 3.2 2.2

Montenegro 10.0% 116.5% 0.4 0.2

Poland 12.6% 71.0% 18.7 11.8

Romania 11.7% 140.5% 7.4 6.4

Serbia 4.6% 102.8% 4.8 2.9

Slovakia 11.2% 70.3% 2.5 2.0

Slovenia 21.2% 39.7% 0.6 0.5

Macedonia 8.9% 149.6% 1.2 0.5

Turkey 7.8% 83.3% 55.7 20.6

Ukraine 3.5% 151.9% 36.6 13.4

158.5 76.2TOTAL

Market entrance according to current Business Plan

76.2m* 60.8m*Population in target markets not covered by broadband

Population in CEE + TR not covered by broadband

There exists a huge market potential for satellite broadband in Eastern European countries, Turkey and the Ukraine. An estimated 76 million CEE/UA/TR citizens live in rural areas not covered by broadband internet

In Eastern Europe, average broadband penetration (connections per 100 inhabitants) stands at 11.8% , dramatically lower than in countries such as Spain (20.2%), Austria (20.7%), and Germany (27.5%)

Poor ICT infrastructure (e.g. fixed-line, cable or 3G networks) in combination with diminishing returns to network expansion in rural areas hamper the closing of this digital divide

These areas will be covered by Avanti’s HYLAS1 and HYLAS2 satellites. HYLAS1 will cover 15 countries in Eastern Europe, while HYLAS2 will extend NetSatOne’s coverage area to include Turkey, Ukraine, as well as the Caucasus

There is relatively low competition in non-urban areas from fixed and mobile broadband service providers - very costly and time-consuming to set up the necessary terrestrial infrastructure

Satellite broadband as the obvious solution to further improve coverage in rural areas -government support is very likely

MARKET POTENTIAL

II





* Includes Turkey & Ukraine

Source: ITU (2009)

PREFINAL VERSION 7

VAST MARKET POTENTIAL MARKET ENTRY & SEGMENTATION

COUNTRY PRIORITISATION & ROLLOUT SEGMENTATION & TARGETING

Low income group

Target group 2

(rural)

Target group 4

(rural)Low

Low incom

e group

Target group 1

(suburban)

Target group 3

(suburban)Medium

High competition (cities)

B2B on case by case basis High

HighLow

Population density

II

PL

UA

RO

HU

CZ

SK

SL HR

BA

ME

ALMK

RS

BG

TR

LT

Priority 1 Countries



Priority 2 Countries not incl. in Roll-out scenario

Priority 3 Countries not incl. in Roll-out scenario

SEGMENTATION MATRIX

The extensive market analysis conducted by ABeam Consulting has enabled NetSatOne to devise a successful market penetration approach

Ideal target customers are inhabitants of suburban / peripheral areas with enough disposable income and computer skills, who have not subscribed to internet services

By user type

Residential

SMEs

Prioritization of countries by market potential

Target customers segments

By geographic region

Underserved areas (focus)

Unserved areas

High

Medium

Low

Segment Attractiveness

MD

Priority 1 Countries to be covered by HYLAS2





PREFINAL VERSION 7

Digi TVSubs: 1.1m

DolceSubs: 884,136

FocusSatSubs: 182,600AktaSubs: 80,000

Boom TVSubs: 130,000

Romania

D-SmartSubs: 900,000

DigiturkSubs: 2.3m

TurkeyBulsatcom

ITV Partner

Bulgaria

Combined subs of 315,300

VAST MARKET POTENTIAL SATELLITE BROADBAND TO COMPLEMENT DTH

TotalTVSubs: 170,000 (RS), 50,000 (BA), 30,000 (ME)

Digi TVSubs: 100,000 (RS), 67,000 (HR)

BalkansDigitalbSubs: 400,000 (AL), 40,000 (Kosovo),

UPC DirectSubs: 183,500

Digi TVSubs: 420,000

Hello HDSubs: 4,000

Antenna HungáriaSubs:36,500

T-Home Sat TVSubs: 156,142

Hungary

Sky LinkSubs: 1,000,000

CS LinkSubs: 500,000

UPC DirectSubs: 99,400

Digi TVSubs: 210,000

MagioSubs: n/a

Czech Republic & Slovakia

Viasat

Subs: 216,000

Poverkhnost +Subs: n/a

MYTVSubs: n/a

NTV +Subs: n/a

Ukraine

Cyfrowy PolsatSubs: 3.2mCyfra+Subs: 1.55mITI GroupPlatforms: TNK, nSubs: 724,000OrangeSubs: 122,000

TVPSubs: n/a

Poland

Note: Subscriber Data as of 3Q 2009

NetSatOne will enable DTH providers to introduce triple-play services. Through its “white-label”product, NetSatOne will offer high performance internet access and Voice over IP (VOIP) solutions at a competitive price

II





PREFINAL VERSION 7

NEW KA-BAND SATELLITE TECHNOLOGY CONSITUTES A MAJOR ADVANCE OVER EXISTING SOLUTIONS

Satellite is the only technology with 100% coverage

Available even in the most rural areas

Internet via satellite is available immediately

Time to market

No infrastructure costs for provisioning of additional customers

No additional terrestrial infrastructure for provider required

Currently the typical capacity of a large beam GEO satellite is 1Gbps

A new generation will boost the capacity from 1 up to 100Gbps through:

Spot beams (re-use of frequencies)

Ka-band (previously unused spectrum)

WildBlue (USA) started Ka-band spot beam based services in 2005

400,000 subscribers as of September 2009

Ka-band uses technology that drastically lowers latency (the time delay in signal transmission)

European launches 2010-2012:

HYLAS1 & HYLAS2 (Avanti)

KA-SAT (Eutelsat)

NetSatOne and Avanti Communications have signed a strategic partnership agreement

NetSatOne will have preferential access to Avanti satellite bandwidth through a right of first refusal

Avanti will grant a substantial discount on the bandwidth it provides to NetSatOne

Avanti will launch HYLAS1 in mid-November 2010

First European Ka-band spot beam satellite for IP

Very high power (62dBW) Ka (two-way IP) & Ku (broadcast only) band satellite

2-3 times more powerful than any other current satellite over Europe

15 years lifetime, support for up to 350,000+ users of broadband services

KA-BAND SPOT BEAM: A NEW GENERATION OF SATELLITES AVANTI & NETSATONE – A STRONG PARTNERSHIP

Future proof

New satellites will add capacity while subscribers can keep their equipment

Migration path for cooperations with fixed line operators

If FTTx or DSL arrives, possibility to direct satellite beam to another area

GAME-CHANCING TECHNOLOGYKA-BAND SATELLITE INTERNET III





PREFINAL VERSION 7

GAME-CHANGING TECHNOLOGYKA-BAND - A PROVEN TECHNOLOGY & BUSINESS MODEL IN THE U.S.

Founded in 1971, primarily focused on VSAT design, manufacture and service, largest provider of high-speed satellite Internet access in the U.S.

Leading supplier for VSAT user terminals, expanded business from device manufacturing to internet service

Largest provider of high-speed satellite internet access in the U.S. (exceeded 500,000 subscribers in January 2010)

Success factors

Early market entry: Financial resources to support building and maintaining large networks

From manufacture to service: Huge economies of scale in providing a highly automated service to all customers

Business diversity: B2B as well as B2C

Technology innovation: Continuous investment in new technologies, products and services

Operational efficiency

Founded in 2004, started next-generation Ka-band satellite broadband system in the U.S. mainly aimed at consumer business

420,000 subscribers in 2009, annual revenue of USD 209m

Acquired by ViaSat in December 2009 for USD 568m

Success factors

Advanced technology on satellites: Ka-band spot beam

Continuous investment: Fulfilling potential customer requirements and future market growth

Strong marketing, intense campaign: State-by-state campaign, integration of local dealer network power

Strong sales channels: Partnership with communities

Efficient operations: Customer oriented focus

HughesNet WildBlue

THE U.S. EXAMPLE HAS DEMONSTRATED THE STRONG DEMAND FOR SATELLITE BROADBAND SERVICES VIA KA-BAND SPOT BEAM SATELLITES

III





PREFINAL VERSION 7

SUPERIOR PRODUCTA DUAL APPROACH

The B2B2C product will be bi-directional satellite broadband internet service for business customers who will in turn provideinternet services to end consumers

Based on different business requirements, additional services and product bundles will be offered in different packages, from PCs,VoIP hardware and software, WLAN routers, to a complete franchising concept

B2B Product Concept

Internet cafés and local small broadband service providers will be supported by NetSatOne to penetrate the market with broadband internet services in rural areas

White-label product will enable DTH providers to complement their DTH offering with satellite broadband internet

Basic package will contain only the CPE and satellite broadband access, whereas premium package will be a full blown internet cafébusiness using a franchise system

NetSatOne will offer different product “sizes” to serve the different needs of individual customers regarding internet access (user behaviour)

The parameters which differ between light, medium and heavy internet users are transfer speed (up- and downlink) and transfer volume

NetSatOne will therefore offer a range of product sizes from which customers can chose their best fit. This will allow acquiring customers with a below-average income by offering an affordable base package, as well as high-end customers by offering a premium/professional package

Targeting end consumers via internet cafés (B2B2C)

Reaching end consumers who cannot afford own subscription

Local internet café operators as entrepreneurial partners

B2B business as “enabler” for B2C

B2B business to test and better understand local B2C markets

B2B as multiplier to acquire B2C subscribers (future sales cannel)

Subscriber migration from Filiago for base capacity utilization and new users to grow business sustainably

New subscriber acquisition

Combine marketing and internet cafés as multipliers for subscriber acquisition

Multiple user antenna to secure targeted ARPU

IN ORDER TO SUCCESFULLY PENETRATE THE IDENTIFIED MARKETS, NETSATONE’S STRATEGY WILL INITIALLY FOCUS ON B2B2C AS ITS CORE PRODUCT, COMPLEMENTED BY A B2C OFFERING WHICH WILL INCREASINGLY GROW IN IMPORTANCE

B2B2C B2C

EUR 129.001,5366,144Business Plus

EUR 59.001,0244,096Business

EUR 29.005122,048Professional Plus

EUR 19.002561,024Professional

EUR 9.00128512Home Plus

Indicative Pricing*

Upload-Speed(kbps)

Download-Speed(kbps)

Product name

(1) Assumed pricing for market entry in Poland, Hungary and Slovakia

B2C PRODUCT CATEGORIES1

IV





PREFINAL VERSION 7

TARGET CUSTOMER CUSTOMER VALUE PROPOSITION PRODUCT CONCEPT

End consumer in a location where terrestrial broadband internet is not available

B2CSingle Household

B2B2CResidential Block

End consumer living in a residential block in an area where terrestrial broadband internet is not available. Addressed via landlord (property owner)

B2BInternet Corner

Internet service provider (ISP) that wants to grow its customer base by offering broadband internet services in an area without terrestrial broadband internet access.

EUR 149

B2B/Wholesale White-Label

B2B SME/Corporation

Small and medium-size enterprises or corporations that are located in an area where terrestrial broadband internet is not available.

Get fast, reliable and secure broadband internet access for your business

Proprietor/operator of existing business with high customer/consumer fluctuation in an area without terrestrial broadband internet access (e.g. gas station, bar/café, convenience stores at train stations, bus terminals, rest areas)

PRODUCT

Proprietor/operator of existing business with high customer/consumer fluctuation in an area without terrestrial broadband internet access (e.g. gas station, bar/café, convenience stores at train stations, bus terminals, rest areas)

B2BInternet Terminal

EUR 149 (L)EUR 239 (S)

Entrepreneur, who wants to set up own business (in an area without terrestrial broadband access and with a minimum of potential customers).

B2B Internet Café(1/2)

Business/public authority that wants to offer broadband internet services in an area without terrestrial broadband internet access

B2B Internet for Public

Customer network

EUR 9 x 10Access to up to 10 individual units per rooftop CPE

SATDSL

EUR 9

PROFIT MODEL1

Monthly Charge

EUR 399 (L)EUR 399 (S)

EUR 1,400.00 x 10

EUR 20.00 x 500

EUR 49 (Lease)EUR 69 (Sale)

(1) Sample calculation based on a 24-month contract(2) Product Revenues (service charge, CPE sale, activation fee – Product costs (bandwidth sourcing, CPE, etc.)(3) 36-month contract

EUR 538

EUR 1,273

EUR 136,800

24m Gross Profit2

EUR 8,393 (L)EUR 7,711 (S)

EUR 5,039 (L)EUR 4,697 (S)

EUR 2,770

EUR 129,0403

EUR 1,511 (L)EUR 1,205 (S)

SUPERIOR PRODUCTINDICATIVE PRODUCT PORTFOLIO

IVThe Vision Investment Highlights Market Potential




Get fast, reliable and affordable broadband internet access at your home (independently)

Get fast, reliable and very affordable broadband internet access in a residential block

Get a simple solution to offer your customers affordable broadband internet access in a location without terrestrial broadband internet access

Get a range of market-ready and scalable white-label broadband internet service products to market to customers in a location without terrestrial broadband internet access

Get a simple solution to offer your walk-in customers easy and affordable broadband internet access

Get a turn-key solution to start your own small business and offer your customers affordable broadband internet access in a location without terrestrial broadband internet access

Get broadband internet backhaul enabling you to offer broadband internet access to customers in a location without terrestrial broadband internet access

Primarily aimed at DTH providers as it will enable them to introduce triple-play services

PREFINAL VERSION 7

PROVEN BUSINESS MODEL

Profit

Revenue

Number of

subscriibers

x Revenue per

subscriber+ Monthly ARPU

CPE sales

+ Activation fee

Base fee

+ Value added services

Indirect

Direct

Onetime

+ Recurring

Onetime

+ Recurring

Office and staff

SAC+ CPE sourcing

Company setup+ Professional services+ Marketing

Bandwith sourcing

Broadband market growth

x Share of market growth

- Churn rate

Cost

Onetime

NetSatOne

Distribution

channels

B2B

B2B2C

Wholesale

B2C

Via sales representatives

Via online affiliates (e.g. country- specific online resellers)

Via local retailers (e.g. electronics stores)

Via wholesale partners (e.g. ISP, MNO or WiMAX operators)

Via own online platform

Via customer care centre

Via sales representatives

NETSATONE DISTRIBUTION CHANNELS

NETSATONE PROFIT COMPOSITION STRUCTURE

OPERATING MODEL

Both HETAN, NetSatOne’s parent, and Filiago, Germany’s leading satellite broadband provider which is to be merged into HETAN, have successfully established themselves as successful satellite broadband providersEssentially, NetSatOne will be in a position to deploy an operating model that has generated proven results in Western European marketsRather than being a mere greenfield venture, NetSatOne will benefit from:

A management team that has a strong track record and substantial expertise in the satellite broadband businessBusiness processes and organisation already in place (business processes such as billing, technical support, distribution logistics) which will be scaled up to enable swift penetration of target marketsThrough the proposed merger with Filiago, HETAN will acquire 10,000 subscribers and migrate them into NetSatOne, thereby providing a solid subscriber foundation

In order to leverage these existing assets most effectively, it is paramount to have a deep understanding of the target markets –specifically, the underlying factors that condition demand have to analysed in great depthTo this end, NetSatOne has, in collaboration with ABeamConsulting, conducted extensive exhaustive market analyses:

In a “bottom-up” manner, NetSatOne has evaluated target markets through local market research (identified e.g. threat of technological substitutes, disposable income, price elasticity, etc.) which entailed the gathering of first-hand information (interviews, surveys) The quality of the data gathered greatly transcends the relevance of available statistical data and enables NetSatOne to gauge true market demand





V

PREFINAL VERSION 7

2010 2011 2012 2013 2014 2015YEAR 0 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Revenue 3,785 19,719 40,492 75,939 103,092 125,997Gross margin 6,299 16,185 28,869 39,883 49,628

EBITDA 745 (7,092) 1,856 7,117 16,465 24,335margin (%) (36.0%) 4.6% 9.4% 16.0% 19.3%

EBIT (7,537) 789 5,651 15,362 23,855margin (%) (38.2%) 1.9% 7.4% 14.9% 18.9%

Net Income 603 (7,570) 767 4,577 12,443 19,322margin (%) (38.4%) 1.9% 6.0% 12.1% 15.3%

FINANCIAL PROJECTIONS

FINANCIAL PROJECTIONS (EUR ‘000)

FINANCIAL SUMMARY (EUR ‘000)





-20,000

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

YEAR 0 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5

Revenue Gross margin EBITDA EBIT Net cash flow

PROJECTED CUSTOMERS

280

YEAR 5

366.913

124.800

241.077

1.036

YEAR 4

287.038

99.600

186.402

1.036

YEAR 3

203.152

74.400

127.744

1.008

YEAR 2

113.849

49.200

63.865784

CAGR +60%

YEAR 1

56.095

24.00031.815

Total Whitelabel customersTotal B2C customersTotal B2B customers

367k subscribers (after 5 years)

Required equity financing: EUR 12.5m

EBITDA positive 8 month after commencement of operations

Avanti bandwidth discount significantly reduces investment requirement

KEY PARAMETERS

PREFINAL VERSION 7

Required financing not yet secured

Barely existing organisational setup (esp. infrastructure and staff)

Level of complexity (B2B and B2C)

Huge market potential in CEE

Window of opportunity to take up market share due to low degree of competition

New technology (Ka-band spot beam) enables competitive bandwidth costs for satellite internet

Political support to close the digital divide

Long technology cycles in satellite business

TIMELINE & SWOTKEY MILESTONES & SWOT ANALYSIS

Marketing approach using B2B business as multiplier and enabler to reach B2C

Strong partners for market penetration

Attractive bandwidth sourcing conditions due to high bargaining power

Extensive experience in satellite internet industry and broadband market

Qualified, experienced, and highly-motivated management team

Price purge and/or higher innovation speed in alternative technologies

Cost and complexity of CPE self-installation

Low customer awareness of satellite tech

Delay or cancellation of satellite launch

Development of terrestrial broadband infrastructure (DSL, cable, wireless)

SWOT ANALYSIS

NetSatOne company established, EBRD shows strong interest to participate in project (February 2010)

Signed strategic partnership contract with Avanti (March 2010)

Launch of HYLAS1 satellite (November 2010)

Funding process completed and set-up of subsidiaries (November 2010)

Launch of marketing campaign, system operational (November 2010)

First customer (January 2011)

EBITDA positive (September 2012)

Launch of HYLAS2 satellite (August 2012)

1

2

3

4

5

6

7

8

2010 2011 2012 2013 20141 2 3 4 5 6

20157 8

WAVE 1: Jan-2010

WAVE 2: Sep-2011

WAVE 3: Oct-2012

PL, RO, HU, HR

SK, RS, BG

TR, UA

KEY MILESTONES SWOT ANALYSIS





PREFINAL VERSION 7

NETSATONE TEAM DEDICATED SECTOR EXPERTS

Sven DonhuysenChief Sales Officer

Utz Christoph WilkeChief Marketing Officer

Detlef MihokChief Technical Officer

With more than 10 years in the industry Sven is a long term expert in the telecommunication market

He is a successful entrepreneur in the telecommunication business and has founded several multi million Euro companies around the global distribution

Sven is a long term expert in creating unique new products for the market

His personal focus lies in marketing & sales including online and offline distribution. His specialityin sales is to find the right strategic partners through his network

Additionally, Sven also has long term experience in fund-raising and business development

Utz works for Filiago as Managing Director and Founder.

Before he founded the Filiago, he supported a variety of companies in the business development, marketing and strategic co operations as well as M&A and Post Merger Integration especially in the telecommunication market

Utz brings with him seven years strategic and operative management experience gained during building up Filiago

He holds a Master of Science in Economics

Detlef works for HETAN as Technical project Manager / CTO since January 2010

Prior to HETAN he worked in a variety of R&D and Satellite Services companies in different responsible positions in Sales, Software & Hardware & System Engineering, Product Development, Project Management, Operation and Field Service

He brings with him 30 years experience in design, implementation and operation of soft- and hardware development, project management, satellite communication systems, IP networks and internet services

He holds an Dipl. Ing. in IT System Engineering

Jörg SchmolinskiChief Executive Officer

Jörg works for HETAN Technologies GmbH as Managing Director and founder

Prior to this, he spent several years working as management consultant for international companies, including an incumbent telecom company in Eastern Europe were he acted as interim CEO

Jörg gained substantial experience in the telecommunication industry whilst working for a leading consulting company (JV of Deutsche Telekom and France Telecom)

After that he held management positions with telecommunications operators in various countries

He holds an Dipl. Ing. in Telecommunication Engineering

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Thorsten HirsemannDeputy Chief Financial Officer

Thorsten works for HETAN as Authorized Representative Manager for financials and operations since the foundation of the company

Before he joined HETAN, he worked in a variety of media and telecommunication companies in responsible positions

He brings with him five years experience in satellite internet gained during his time as a Manager at TELES AG (skyDSL)

PREFINAL VERSION 7

Raiffeisen Investment AG

Krugerstraße 13A-1015 ViennaAustria

T: +43 (0) 1 710 54 00 – 160 F: +43 (0) 1 710 54 00 – 169 [email protected]

Peter Köhler Matei Filipidescu

Director Associate Director

T: +43 (0) 1 710 5400 146

M: +43 (0) 664 627 5346

[email protected]

T: +43 (0) 1 710 5400 206

M: +43 (0) 664 627 2763

[email protected]

FOR FURTHER INFORMATION PLEASE CONTACT:

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