EFTA01374907

Siris Investments Overview at Entry/ Deep Value Investor -5.8x avg. acquisition multiple and -3.5x avg. leverage multiple over 113 investments SRLP102 Alpha Group Capital millions) 6.6x 2.8x 2.9x 5.0x 5.3x 1.7x 1.9x 3.4x 6.7x 6.6x 3.1x 3.4x 6.0x 3.5x 7.5x $447 $428 3.3x $659 $377 $260 S273 $118 5136 $176 I $190 I II I 1 (4) (11OMoclot(2) A i r vana :;:r Tekelec Ili Stratus S Pulse Digital lr .. e, le (3) NAVENIR 1,.,i Rplycorn Aug-08 Apr-10 Jan-12 Feb-13 Apr-14 Oct-14 Feb-15 Dec-15 Aug-16 Sep-16 Tote: Inv Equity —O— 'EV ' P r EllirA(1) Denotes deals that are fully or partially realized 7.7x $.0x $410 8.2x 6.1x 2.4x • $690 N/A $185 $ sanchirovassWebecusT Nov-17 Feb-18 Oct-18 Total Debt /W EBODA !.62/6 Chan oulmk, follow on 1661616615 Additional ,InaCs on ea It •trusease study n abate ue sulmnraeo k:66 )161265,61621 kerma or upm rn1ieh ( tail en bides Cosnws bud. a Sus I. aid Arclial DISCONTA 'ins a <2411110. Nod 6 exam**, ivve• dm mammy. n tuseoce in our nwinviluitw. IOW II a aNuirag<nmgdm teshmiem binximses Aflt.d Dlecown is en fl ied 0,9'11 0€ ui W onrrtn,ro Net el SI risaffi.x. Mast in' Anna. I um] Rylormamt Data lei a .caitptett Int Sri. impress Ma: see 'Appgadn. lot addniotal,..msidaa.uits and damns... f vautenunct ma ememailly infa:ative of fut., results lbesr wk. in! (tannin may 06 be aremeramine a an 116616.6006 el a gam two m ei unmeant, givergbe, vnth ommt pnrIannatlithlOpf}66961661%., tad 116661141 all he ..esunial the Sins snd nial.tetaipaair et nmalbe mit essbd unmmaein. ally limn. III bans ea simple merape of TIN; BMA (kw°, division I only EblIDA Yvan a min Mt Ala an. I...Lam Stress and asual PJver leaf el whit. ate. woo' M appbcabk qiiitrol.. It.,lall Crmals1 (I mime danona Oat um. von acing neptlw nllNAI and TM foul LIU DA Al anti my latialuder. We:pea Pawns Maven( FC.I. Rase. INS atd NiMedal Math nl wink a We time of Ile applicable aomaltwia. bad Cag Vprionfs) that were mnaattag SInchronoss Iva a pun 14ne mull.* Nu-4 oft dw ompany's an lesTeame thn.a dm Wily fTlf.Investment EBITDM am proforma t, indrmle. mbar appfraldr, rell000.1191. gay*, aid itataord a amts. mdalMardte exclude Items ma i as ma muslin ream:eau% coat ormas 41.< Iota {Morris, Value al -VI m.lm'es nm,vam arms,' and balance Me. oak but does not ewInde east. nmariad to bud aamicuirsl Call Option tomes rivelixe multiples at e.planed m noir .lelml In the appleabk east madam included hens la Rue ASIedat Seen I wqsarol'Ars Cl NMIudal (Ike. Ided,...naltromPbabps Remaining RM. sea Iwltch traltd. (M era nary miming MImailman el Mdy Itnarmg pro:Med In l 1Iturd entre. witch was sul+nprntl.. 'daunted in Navebm 1014 CZ, t, lc I 0 van.uk, te IF. . PP:014 WE. litre Interest- Aix Chart mcliales S5I 12mm Sal-nen untitIMM 1011711111111W6 ID ad 7mmie lawesmn and ..ctuansusenst ..baaaani altar Nthiv asethAoraro moo %Sambre and Rearm Pra ',male, follow s_I R on ....misiwas Foal n man n. IN IT2V1.4, - SLIPS 'nun ' ill 7mm - AZ. and local Debt. 2010. INTIM -1.bs:".Mum ' 'I rem - 5s, 6 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0069849 SDNY_GM_00216033 EFTA01374907