1. U OF U Entrepreneur Challenge Capital Sources EPIC Venture Fund Investing in seed and early-stage technology companies Opal Financial Group Emerging Manager of the Year 2009

2. Private and ConfidentialPage 2 EPIC Venture Funds Early-Stage IT and High Tech Venture Fund $250+ mm under management between (Epic and Zions Funds) EPIC Funds- –Over 90 Total Investments - 32 Exits: 5 IPOs, 27 Acquisitions - 36 Active Companies Zions SBIC – Strategic Venture Fund 9 Total Staff 3 Main Offices Currently (Salt Lake City, Boston, New Mexico) Operations in Idaho and Phoenix

3. Private and ConfidentialPage 3 Bio Kent I. Madsen, Managing Director Managing Director, EPIC Venture Fund and Zions SBIC Fmr Advisor DFJ MeVC (NYSE: MVC - $300 million fund) University Venture Fund (Non-profit Venture fund) Ford Motor Company, Advanced Technology and China Development University of Michigan, Instructor & Author M.B.A. from Wharton M.A. in International Studies from University of Pennsylvania M.S.E. in Mechanical Engineering from University of Michigan B.S. in Mechanical Engineering & Applied Mechanics, University of Pennsylvania

4. Private and ConfidentialPage 4 What to be an Professional Athlete? Michael Jordan – Greatest Bball Player all time (Wealthiest)? $300,000/Game; $10,000/minute Endorsements $40 Million in one year; 187,000/day Sleeps 7 hrs/night - $52,000/night Makes $3,710 for watch an episode of Friends Buy a Jaguar / Acura NSX ($100 k) – save for 12hrs One year – Made more money than all past US Pres combined 270 years – Number of years he’d have to do it to equal Bill Gates Rather Than Be Michael Jordan Buy MICHAEL JORDAN!!!!!

5. Private and ConfidentialPage 5 What do you call a 1000 Lawyers tied together at the bottom of the ocean? A good start! Apparently we are such Jerks we can’t buy friends. 1- VC’s can’t even buy friends… ….. An overview of Private Equity. Things to know about VC

6. Private and ConfidentialPage 6  Retail Banks (low Risk Tolerance)  Personal Guarantees / SBA loans (Moderate Risk Tolerance)  Angels / Family and Friends (Low/High Risk Tolerance)  Venture Capital (High Risk Tolerance)  Mezzanine (Moderate Risk Tolerance)  Private Equity / Buyout Funds (Moderate Risk Tolerance) Capital Sources

7. Private and ConfidentialPage 7  Institutional private placement of capital  Equity, Equity-like instruments  Convertible Debt, Debt with Warrants, etc.  Venture Capitalists expect to exit within 4 - 7 years  Initial Public Offerings, Acquisitions  Venture Capitalists typically specialize in different stages  Seed, Early/Start-up, Mezzanine, Buyout, etc. Venture Capital Overview

8. Private and ConfidentialPage 8 Utah Equity Overview

9. Private and ConfidentialPage 9 EPIC Ventures Strategy - Seed and Early-Stage Investing EPIC

10. Private and ConfidentialPage 10 EPIC Overview Strategy Investment professionals have worked together for over 8 years Team has over 40 years of combined venture experience Experienced operators at public, private and start-up companies Advisory Board of Top Industry Executives Seed and Early-stage technology investments Focus on companies in close proximity to EPIC offices Lead investments with active Board participation Sector Focus Expertise in software (On-demand or SaaS, Open Source, Enterprise and Consumer Applications), Storage and Memory, Web 2.0 / New Media, Life Science, Materials and Clean Technologies Team Results Over 90 Total Investments 31 Exits: 4 IPOs, 27 Acquisitions 36 Active Companies Network Worldwide Industry contacts with CIO’s and BD contacts Vast network of entrepreneurs Broad partner contacts across venture capital, private equity and investment banking sectors