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Investor PresentationJuly 2014

“Bitcoin represents something fundamental and powerful”

– Fred Wilson, Union Square Ventures

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Future Capital Bitcoin Fund

$30m Fund Equity Investments

Bitcoin and digital

currency ecosystem

Experienced investment

management team

Registered in Australia

Tax Free returns *

Accepting investments

globally including in

Bitcoin

Sourcing opportunities

globally

*The Fund is pre-registered as an Early Stage Venture Capital Limited Partnership (ESVCLP) under the Australian Venture Capital Act.Provides investors fully tax free returns (whether on income or capital account) including dividends.Potential investors should always obtain their own independent financial and taxation advice.

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Overview

1. The Bitcoin Investment Opportunity

2. Price and Takeup

3. Future Capital Bitcoin Fund

Appendix

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Why Bitcoin?

1. The Bitcoin Investment Opportunity

2. Price and Takeup

3. Future Capital Bitcoin Fund

Appendix

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What VCs are saying about Bitcoin

Fred Wilson Union Square Ventures

• “We believe that bitcoin represents something fundamental and powerful, an open and distributed peer to peer protocol for transferring purchasing power. “

Tim Draper Draper Fisher Jurvetson

• “Bitcoin has the potential to transform the world the way the Internet did … All finance / commerce can be transformed by Bitcoin.”

Mark Andressen Andreesen Horowitz

• “Personal computers in 1975, the Internet in 1993, and – I believe – Bitcoin in 2014.”

Chris Dixon Andressen Horowitz

• “Bitcoin is the first plausible proposal for an economic protocol for the Internet.”

Jim Breyer Accel Partners

• “I’m confident you’ll see major worldwide retailers adopting …Bitcoin.”

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…and they are putting their money in…

High profile Bitcoin

investments from past 18 months

$160M:

Total VC funding reported in more than 30 Bitcoin deals

$50M: Amount invested by Andreessen Horowitz into Bitcoin startups

$40M: Investment in Xapo - The largest total investment into a Bitcoin company

$30M: Investment in Bitpay – A Richard Branson backed Bitcoin company

$25M: Funding of Coinbase – A Sillicon Valley backed Bitcoin company

$15M: Liberty City Ventures own “Digital Currency Fund” $11M: Winklevoss Capital investment directly into Bitcoin$2M: Peter Thiel (Paypal) personal contribution to a Bitcoin fund

60 Number of investors in “BitAngels”, a Bitcoin angel investment network

Bitcoin startups present a high potential investment option

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…and accelerating

$40MSeries BJuly 2014

$30MSeries B

March 2014

2014 run rate of US$284m, almost 3x the 2013 total investment of $99.5m

Q1$64.5

m

2013 Total

$99.5m

Note: *Includes first sequence venture deals but excludes late-stage 1995 internet investments ($257.6m). For additional disclosure on methodology see http://www.coindesk.com/following-money-trends-bitcoin-venture-capital-investment/

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Financial Institutions are watching

Type ActivityInvestment

Bank Report

Investment Bank Report

Investment Bank Report

Investment Bank Report

Ratings Agency ReportAsset

Management Investment

Consultancy Report

“We believe Bitcoin can become a major

means of payment for e-commerce and may emerge as a serious

competitor to traditional money transfer options.”

David Wood Bank of America/Merrill

Lynch

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…and thought leaders are seeing promise

“I’m a big fan of Bitcoin … Regulation of money supply needs to be

depoliticized”

Al GoreFormer US Vice

President

“Bitcoin may hold long-term

promise”

Ben BernankeFormer US Fed Reserve

Chairman

“Bitcoin is a technological tour de force”

Bill GatesMicrosoft Co-founder

“We have elected to put our money and

faith in a mathematical

framework that is free of

politics and human error”

Tyler WinklevossEntrepreneur

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Opportunity AreasBitcoin Aiming to Disrupt $457bn+ Total Market Cap

Payment Processor

s: e.g. Visa,

Amex, Mastercard$381BN

Payment Hardware:

e.g. NCR, Micros, Verifone

$25BN

Money Transfer /

ATM Outsourci

ng: e.g. Western

Union, Money Gram$14BN

Bank Software: e.g. Fidelity,

Fiserv$37BN

Total$457B

N+

Source: CoinDesk, Wedbush Securities – As at 8 April 2014

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… offering large potential transaction cost savingsPotential annual net savings with Bitcoin based on 2013 volumes

2013 Market Size ($bn) Retail Ecommerce Remittances

$ volume by market 10,383 609 549

Prevailing average pricing 2.5% 2.9% 8.9%Bitcoin pricing 1.0% 1.0% 1.0%

Prevailing transaction fees 259.6 17.8 48.9Bitcoin transaction fees 103.8 6.1 5.5

Potential Savings with Bitcoin ($bn) 155.7 11.8 43.4

Source: Goldman Sachs Global Investment Research

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Opportunity AreasBitcoin Companies can be grouped into 6 categories

Payment processors

Mining hardware

Financial services

Exchange

Wallets

Universal

Exchange

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Bitcoin Penetration

1. The Bitcoin Investment Opportunity

2. Price and Takeup

3. Future Capital Bitcoin Fund

Appendix

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As a “currency”, the price has recovered

Source: CoinDesk Bitcoin Price Index daily closing price (taken at 00:00 UTC)

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… opinions vary on where it could be

Sound economic models developed

by senior bank officials…“Our current view

implies a maximum fair

value of bitcoin = US$1,300”

David Wood Bank of America/Merrill Lynch

…To those that are “true believers”

“We believe Bitcoin could

reach $US $10,000”

Tyler WinklevossHigh profile Bitcoin advocate/Facebook

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While Bitcoin as money is small

US Australia Guatemala Bitcoin0

500

1,000

1,500

2,000

2,500

3,000 2,705

2558 7

M1

Mon

ey S

uppl

y (U

S$BN

)

Rank Country Money Supply ($BN)

90 Bitcoin 6.1591 Afghanistan 5.9292 Sudan 5.8593 Macau 5.8494 Uzbekistan 5.8495 Serbia 5.7996 Ghana 5.7797 Uruguay 5.3298 Papua New Guinea 5.3099 Malta 5.27100 Yemen 5.14

Bitcoin is small compared to US, Australian currencies

… but there are 100 countries that have a smaller currency supply than Bitcoin

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Its use in commerce is growing

Region Businesses

North America 1,563

Europe 1,478South Asia / Australia 227

South America 167India 94

Africa 24

Approx. 60,000 merchants accept Bitcoin ... mostly online Physical businesses accepting Bitcoin

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Bitcoin advancing on other networks

Bitcoin Western Discover Paypal Discover Amex Union Pay Master Card VisaAver

age

Daily

Tra

nsac

tion

Volu

me

(US$

)

(Pulse)

$100M

$1BN

$10BN

$20BN

$41M

$216M$299M $397M $438M

$2.4BN

$7.5BN$9.8BN

$16.5BN

Source: Coinometrics.com, 30 April 2014

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Bitcoin access by merchants and customers is becoming easierPoint of Sale By Internet By Mobile Bitcoin ATMs

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The Opportunity

1. The Bitcoin Investment Opportunity

2. Price and Takeup

3. Future Capital Bitcoin Fund

Appendix

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Investment Highlights

$30m Fund Equity Investments

Bitcoin and digital

currency ecosystem

Experienced investment

management team

Registered in Australia

Tax Free returns *

Accepting investments

globally including in

Bitcoin

Sourcing opportunities

globally

*The Fund is pre-registered as an Early Stage Venture Capital Limited Partnership (ESVCLP) under the Australian Venture Capital Act.Provides investors fully tax free returns (whether on income or capital account) including dividends.Potential investors should always obtain their own independent financial and taxation advice.

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Experienced Investment Team

Domenic CarosaOver 20 years of

experience in Technology, StartUps,

Corporate Finance and Funds

Management ASX listed companies incl

growing destra to revenues of over

$100M

Tony Stephen25 years PwC. Fellow

Tax Institute Australia. Dealt with major corporations,

billion dollar transactions and high

growth tech companies

Leon-Gerard Vandenberg

Deep technology and commercialisation

experience in defence,

authentication, mobile and card

payment systems incl CTO for US Navy smartcard Company

Remco MarcelisCFO/COO for

technology/cleantech businesses for 10

years, preceded by 4 years in venture

capital. Raised and invested nearly $40

million

Holger AriansHolger last worked in the German Defence

Industry. He is an Alumni from Harvard Business School and did an Executive MBA

in Germany and France.

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Previous Investment Experience

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Tax Free Returns* Pre-registered as an Early Stage Venture Capital

Limited Partnership (ESVCLP) under the Australian Venture Capital Act 2002.

Provides investors fully tax free returns (whether on income or capital account) including dividends.

* Potential investors should always obtain their own independent financial and taxation advice.

Refer: http://www.ausindustry.gov.au/programs/venture-capital/esvclp/Pages/default.aspx

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Fund Investment AllocationExample of investment allocation amounts over successive

funding rounds

StageNo of

InvestmentsA$ investment per company A$ invested

Seed 20 $250k $5MSeries A 8 $500k $4MSeries B 4 $1.5M $6MSeries C 2 $3M $6MTotal $21MNote: Series A,B,C represent successive follow-on funding roundsExample based on a $30m raising

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Sample Opportunities

bitSIM Mobile-to-Mobile transfer of Bitcoin

bitPOS Point of Sale solutions for merchants

CoinJar Cloud based WalletMonetas Digital Finance PlatformBitcoincloudmining Cloud-based Bitcoin mining

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Open for Investment

Information Memorandum available

Investors welcome globally - AUD, USD, EUR,

YuanInvestment via bitcoin

welcome

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Next StepsParticipate in the global Bitcoin phenomenon

Contact:Domenic Carosa

dom@futurecapital.com.au

+61 411 19 69 79Holger Arians

holger@futurecapital.com.au

+61 439 716 110www.futurecapital.com.au/

bitcoinfund

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Overview

1. The Bitcoin Investment Opportunity

2. Price and Takeup

3. Future Capital Bitcoin Fund

Appendix

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What is Bitcoin?A quick introduction

Digital Currency:

• The world’s first decentralised digital currency

Peer-to-Peer:• Can be transferred from person to

person through the internet without an intermediate financial institution

Open Source:

• A secure, consensus-guided payment network that is powered by its users with no central authority or middlemen

Fast-growing:• Grown from $0 to $7.7BN market cap

in 5 years with millions of dollars transacted daily

Bitcoin

(BTC)

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Getting StartedHow do I get Bitcoins?

Receive Bitcoins as payment for goods or services

Purchase Bitcoins at a Bitcoin exchangeExchange Bitcoins with anyone in the worldEarn Bitcoins

through competitive ‘mining’

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Bitcoin for usersSimple, frictionless transactions

A mobile Bitcoin wallet allows a user to send and receive Bitcoins

Send and receive any amount of money,

instantly anywhere in the world, at any time

No merchant account needed

Bitcoin payments are easier to make than debit or credit card

purchasesPayments can be

made via unique ID, QR code or tapping

phones

Private with no customer personal information at risk

Convenient, low cost,

instant

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Bitcoin for BusinessEnabling new markets, reducing admin costs

Bitcoin transactions are secure and irreversible protecting merchants from fraudulent chargebacks

Bitcoin eWallets and terminals are encrypted and do not expose sensitive or personal information Merchants can use Bitcoin payment where either credit cards are not available or costs unacceptably high

Higher trust is created as unwanted or unnoticed charges can’t be made as can happen with other payment methods

No volatility if the merchant decides to retain funds in Bitcoin

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Attachments BTC Criticism and History BTC Mining Explained

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38

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Bitcoin MiningCreating Bitcoins by managing the network

Traditional mining

Bitcoin mining

Bitcoin mining

snapshot:

1. The process of co-managing the network by processing transactions, providing encryption and

synchronising the system

2. ‘Miners’ operate in all countries and no individual has control over the network

3. This secures the entire network and ‘miners’ receive Bitcoins in exchange

5. New coins are created annually until 21M coins are in circulation

6. Once all coins are in circulation the miners are supported by transaction fees