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NewCoNewCo1ConfidentialExecutiveSummary2006Aug.7NewCoNewCo2ConfidentialOutline--FromFPDMarketTrendstoaViableBusiness1.WindowsofOpportunities2.BusinessModel&CompetitiveAdvantages3.InvestmentStrategy4.FinancingTimelinesNewCoNewCo3ConfidentialWindowsofOpportunities(WOO’s)WOOofOLEDDeficiencies:LCDimageimperfectionSolutions:TotimelybuildaLTPSbasedOLEDlineWOOofLCDDeficiencies:a-SiarrayandcolorfiltersupplychainOversupplyinlow-endsegment,yetseriousshortageinmid/high-endsegmentsSolutions:TotimelybuildaLTPS+ScannerCFlinetofillthevoidsLTPSAMOLEDTFT-LCDNewCoNewCo4ConfidentialBusinessModel-Bi-paneColorFilterTFTArrayCell-1AssemblingPre-moduleLightOnTestScribeCell-2LCinjectionModulePolarizerBondingShieldCaseIQCOutsourcingBi-PaneProductNewCoNewCo5ConfidentialOnlyfocusontheunmetmarketneeds(Deficiencies:array&CF)Directallthein-houseresourcestothebi-panebusinessCapturethepostbi-panevaluetopartnershipleverageandoutsourcingCatchthenextwaveofdisplaytechnologyrevolutionBasedontheexistingseasonedandcompetentteamtoensurefullreadinessonAMOLEDtechnologyandmanufacturingknow-howAvoidobsolescentinvestmentbetweenLCDandAMOLEDPotentialobsolescentinvestmentinLCD:proximityCFline,CellandModulelineADifferentiatedBusinessModelNewCoNewCo6ConfidentialCompetitiveAdvantagesAteamwithCompleteness:Ineveryfunctions(business,technology,manufacturing)Cohesion:Allmemberswithgreaterthan3yearsjointworkingexperienceRichexperience:ActivelyparticipatingTaiwanLCDindustryfromday1(1996)todateAchievements:Business,TechnologyandMFGChinaStronglocalpartnerCulturecompatibilityInsidethemarketplaceThefirstS/Mcompany,thefirstLTPSbasedcompanyDifferentiatedbusinessmodelAssetlight&minimalobsolescentinvestmentEarlybreakevenandhighreturnoninvestmentNewCoNewCo7ConfidentialAssetLight•Investonlywhenit’sinevitable•Outsourcingwheneverpossible•MinimalobsolescentinvestmentTechnology&Mfg.Know-howFocusedHeavilyInvestmentStrategyBenefits:•Minimizinginitialinvestment&sunkcost(depreciationlight)•Minimizingfixedcost•Minimizinginventory&workingcapitalexposures•Earlybreakeven•SustainableCompetitiveAdvantagesinTechnologyandknow-howNewCoNewCo8ConfidentialCAPEXTFT-LCDAMOLEDTotalPhase1Investment=238.8M+15.0M(Cashflowmanagement)ConstructionFacilityEQ-ArrayEQ-Cell-1EQ-CFEQ-OLEDHook-up(4%ofEQ)CIMEQTOTALBUILDINGTOTALOthers(IT+Designtools)TOTALunit:US$M238.80165.55404.3520.005.006.001.40185.00149.9547.8014.2065.456.605.809.800.0026.500.0041.208.40128.7079.50III0.000.00phase-1investment(7.5k/m)phase-2investment(+7.5k/m)NewCoNewCo9ConfidentialEquityCommitmentAllotment–Phase1$30M/eaStrategicinvestorsInvestorA:$30Mcommitted+Fabready+seedfundready◎◎◎◎◎◎◎◎InvestorB/C/D:workinprogress:○○○○○○○○○○○○○○○○△△△△$20M&$10MEndorsementfrominternationalrenownpartners:PartnerA:workinprogress:◎◎◎◎◎◎◎◎PartnerB:workinprogress:○○○○○○○○$15M/eaCaptivecustomerastheequityowners:CaptivecustomerA:workinprogress:○○○○○○○○CaptivecustomerB:workinprogress:○○○○○○○○FundneededFundSourceCategoriesTotal:$180M(Debtratio:30%)Note:◎◎◎◎:Committed,○○○○:Approached/Assessing,△△△△:ApproachingNewCoNewCo10ConfidentialPhaseITimelinesMPwithin5quartersfromcompanyformationEarlierbreakevenwithin2yearsfromcompanyformationCatch2008highseasonandOlympicGameEvery6monthpullaheadequivalentto40MUSDprofitTimingiseverything!!67891011121234567891011121234567891011122008MP200620071.EarlyPOforlongleadtimeEQ2.ShrinklongleadtimeEQ12mto10m1.Marketproductcopy2.Earlycustomerq'fyviaT/SPR-POq'fyEQLeadtimeInstallRamp-up/Tier3PilotRunE/SLOIissuance1stclosing2ndclosingNewCoNewCo11ConfidentialConclusion--FromMarketTrendstoaViableBusiness1.Trends&opportunitiesareemerging2.Criticalsuccessfactorsarecomingtogether3.TimingisNOW!NewCoNewCo12ConfidentialThankyou!