EFTA Document EFTA01374906

SRLP1 02 Alpha Group Capital Siris' Sourcing Approach Institutionalized disciplined approach to sourcing investments. Investment Process All••••• We study the effect of technology disruptions on industry sectors that address mission-critical requirements for their customers Working together, our Executive Partners and Business Development team develop "whitepapers' to formulate a thesis and identify specific target opportunities; —20 written to date Potential targets are ranked by the attractiveness of their Bond/Call characteristics Leveraging Sins' collective network of relationships, we initiate an outreach effort to meet with the targets and detail the benefits of working with us Key Statistics I I i u re inveAtnents Only 2 traditional auctions Polar A taketriva les -S.Ex average acquisition multiple` - A transaction can take 12 to 36 months to consummate given the complicated nature of our targets' situation Representative White Paper Topics Enterprise Communication Video 2.0 Wireless 1 Transition 2G, 3G, 4C, SC Industrial IOT Annual Pipeline rate Into' Potential Target I txlinulogy Universe I pical a of opportunities reviewed (^1.00.1"ra ssZ lats.* A(Ilienoiet Due I )iiigent 8-10) Iran (lions" Note: Represents deal activity for buyout funds only. Notet Skid strategiesand taigas depend on • variety of firtont, including the pnevalling marts environment and invitee:mint availability and opporturdy, and there can keno...irate that the conditions upon which such gear and targets are bawd will materialize. The stove is few illusuativi damnation* and is intended to show how Sim analyse. technoloff inveatinerac It does not mama% any pant:mksSins imminent (II Includes public tech and telecom companies m the t6. Canada. UK tad France vnth TEV parameters of S200inm to $2.5bn Aho amnia S% Imamatetoadmit for In' size parameter) of pr eviletech aid telecom US end Canadian companies. Seems Caps Sun estimate.. (2) Paved on simple armed TEV/ Bond lleiwy division/only EIVIVA multiplex at vary for Airvaki. Meier, Stratus, and Digital Karr (vat of which a the towel the antral. armonitton, had Call Option's) (venture d ivisaml that were germanise negative ERITDA) and TEV Total affDA at entry for Intralinks. Polyrern, klaventr. PCi. Pulte.TNIS and hINkdal teach of winch a the timed the applicable acqunition, bad Call (trancelike( were generating positive EIMIDA). Canso. Bank at excluded given the traniaction is non-com to mu ongoing straw towards amusing complex technology busanamm. Applied Oncovery Ie excluded given the mull SS. amid S3 Indian% Synchronosa si excluded as the investmete wax in the (nand • nunonty PIPE immanent. Earl DA. are proformato include, where applicable. !worried cod saliva end realised a entry. ad dieted to exclude tome such as noreraurnrig St RicrunnS coats, °plank etc. Total Enterpme Value (TEV)axiudee transactionevents ad Mancesheet rah tut dace not exclude rash earmarked to fund anticipakd Call Option Imam rumba, maul+, are enplaned in more dad In the 4cible caw Muth., included herein Pk., see •AppendIx-Fund Paformage Detar (or • oompleta hat of SOW invegmente. Please em "Appendix- Footnote's.' (or addnand coreldwatiom and deRnelona lit Dos not Include add ow. 5 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0069848 SDNY_GM_00218032 EFTA01374906