1	XP Power – Investor Presentation May 2009
2	Agenda 1. The Company and its Markets 2. Sales process and Value Proposition 3. Product development Financial highlights Outlook and Summary Appendices I Industry consolidation II Detailed financials
3	1. The Company and its Markets
4	Introduction to XP Power One of the world’s leading developers and manufacturers of mission critical power control solutions Supplies industrial, healthcare and technology sectors Blue chip client list Zero exposure to consumer products Historic and ongoing investment in R&D has built a market leading product portfolio Focus on higher margin own IP sales Significant manufacturing capacity established to further penetrate blue chip clients Network of 27 offices (and 19 distributors) across North America, Europe and Asia
5	XP Power – Strategic Development Business transformed since Listing in 2000: Listed in 2000 by the existing management team as a specialist distributor of power control components Since then the business has been moved up the value chain to become a designer and manufacturer with its own IP, growing gross margins from 28% to over 44%; Established a number of design centres which have developed a portfolio of industry leading products transforming XP into a technology-led business; Established the largest most technical direct sales force in the industry with 27 locations throughout North America, Europe and Asia; Rolled out a proprietary database across the sales force to capture all key project information for sales management and product development purposes; and Established a significant manufacturing facility in China to further penetrate a blue chip customer base.
6	What is a power controller? A power controller is a piece of electronic hardware that performs the following functions: Converts electrical power from one voltage to another; Converts alternating current (AC) to direct current (DC) or vice versa, or converts one DC voltage to another DC voltage; Meets the critical safety requirement of shielding the user from the dangerous mains supply; Filters electrical noise and the spikes and dips in power from the mains supply so it does not produce undesirable effects in the customer’s equipment; Prevents electrical noise from being transferred into the mains supply by the customer’s equipment; and Meets the increasingly demanding regulatory, legislative and environmental requirements.
7	Product Examples
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9	Blue Chip Customer Base We do business with the following proportions of the S&P 500 Equipment Manufacturers: Industrial 73% Healthcare 94% Technology 69%
10	Growth Drivers Penetration - Our Blue Chip customer base provides good opportunities to win new product programs from their multiple engineering teams Healthcare - Global population growth and ageing is increasing the demand for medical equipment together with accelerating innovation and sophistication of medical diagnostic equipment Efficiency – growing volume of regulation on efficient power usage and limiting harmful consequences to the environment Legislation – increasing legislation relating to the amount of energy consumed by electronic equipment when it is not working but in standby mode New Products – Customers’ new product designs which require less space and heat generation
11	2. Sales Process and Value Proposition
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13	3. Product Development
14	New Products Pipeline Driven by sales experts collecting intelligence from: Pending legislation Global sales offices Industry directors Huge customer database which records all projects
15	Our Product Development Resources
16	Product Development
17	Own IP Revenues Drive Gross Margin Increase
18	Kunshan – New Factory
19	4. Financials (See Appendix II for detailed financials)
20	2008 Financial Highlights – record results Own IP revenue £53.9M + 11% Gross margin 44.2% +5% Earnings per share* 34.8 pence +11% Operating cash flow +23% Dividend 21p per share +5%
21	Currency Movements
22	Dividend History
23	5. Outlook
24	Revenue Outlook
25	Gross Margin Outlook
26	Expenses Outlook
27	Summary Exploit market leading sales resource Increase pace of new product releases Improve penetration of top accounts utilising new production facility and new products New factory to open in Q2 Trading year to date is in line with expectations
28	Appendix I - Industry Consolidation XP Power operates in a $2 Billion sector of the power control market. The No. 1 competitor (Lambda) was acquired by TDK of Japan. The No. 3 competitor (Cherokee) was recently acquired by private equity (Gores Corp). The No. 4 competitor (Astec) is owned by Emerson who have been a serial acquirer in other sectors of the power control market. Three of the remaining top 30 competitors have been sold in the past 12 months. XP Power has been an active acquirer since 2000 – investing more than £40 Million on 13 acquisitions. The current share price negates further acquisitions.
29	Appendix II - Income and Expenditure Statement
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31	Cash Flow Statements
32	"www.xppower.com" www.xppower.com