DS9 Document EFTA00610327

MAT Next Management Next's consolidated cash balance has not dropped below $10M since Oct-15, even in the most unprofitable months; most declines driven by tax distributions as opposed to operations. $15M 10 5 0 -5 Cash by Entity, U.S. U.K. France Italy Other o) i Cash El Adj. Income L.; Tax Distribution 11.2 10.8 9.0 8.5 0.7 0.6 0.6 8.1 8.3 8.0 11.3 10.9 0.6 0.9 1.0— 0.3 9.0 11.8 1.4 0.8 1.0 1.7 1.5 .8 0.8 12.3 1.7 13.6 0.1 0.2 0.4 0.6 10.3 10.5 10.5 13.9 2.8 12.6 12. 12.9 1.2 0.602 Minimum Cash Analysis 41.9 0.8 0.1 13.4 13.2 2.3 1.0 0 4 2.0 Cash Balance Since Jan-16 Min AY9 ktos $10.3 $12.2 $13.9 C ro -0.7 so, >, w ft, a. 03 LL 3 t (hoz -0.2 -0.2 -3.a 4.) c .O a co a t> m _Al _ O •-• a X •-• < (f) " z O 1.71 C .O CO 10 LL el 0.8 a IV a X ip < n Total FY'15 FY'16 FY'17 fa 02 Ca fa RI. ga (a. CM g11 fa 1.8 3.0 2.7 3.5 3.0 3.1 3.6 2.6 2.0 2.6 2.7 1.8 2.7 4.0 3.7 3.2 3.8 4.2 4.1 4.1 1.0 0.5 0.3 0.7 0.6 0.3 0.5 0.8 0.8 0.7 2.9 2.5 2.9 3.1 3.1 4.8 4.6 4.3 4.3 5.1 0.0 0.3 0.5 0.3 0.5 0.3 0.6 0.8 0.8 0.7 8.5 8.1 9.0 11.7 11.0 11.7 13.2 12.8 12.1 13.2 Note: All financials converted to USD at current exchange rates (constant currency). (1) Cash balance at end of month; total cash assumes Italy balance held constant at prior month where data is not available. (2) Net Income plus Depreciation & Amortization; assumes SO from Italy where data is not available. (3) Includes Two Twelve and Metier. This information confidential and was prepared by Golden Gate Capita solely for internal use 1 EFTA00610327