EFTA Document EFTA01374935

SRLPI 02 Alpha Group Capital TNS: Results Post-CIose \( hiev ernents Post-Close eb. 2013 Dec.2 f 3 Feb. 2014 Dec.2 f 4 S ..2075 Dec. 2015 Ian. 201 Close Acquisition Cost Savings / EBITDA Growth • Reduced opex and capex by $64 mm • Grew EBITDA from $135 mm to run-rate $165 mm Dividend Recap • Returned $215 mm, —80% of cost, to investors Call Option Sold • Gateway division sold to MasterCard for $159 mm or 26x EBITDA • $74 mm distribution, —30% of cost, to investors Bond Subsidiary Sold • Caller authentication /directory business sold to Neustar for $220 mm or 9x EBITDA Cost Savings/EBITDA Growth • $83 mm of aggregate run-rate cost savings achieved • 2015 PF EBITDA of $109 mm, excluding divestitures Dividend Recap • Returned $230 mm, —84% of cost, to investors Sep. 2017 Debt Refinancing • Replaced 2nd lien debt with larger lg lien tranche Sims (;ross Realized & Unrealized Returns (SmItO 3.0x Fund Total Gross MOIC + Co-Invest: 2.7x Fund only:2.6x $217 $736 $145 2.0x $519 G O S177 S S NI 1.0x $487 O I $342 C Feb-2013 0.0x Acquisition Realized Unrealized Total ($177) Value Value Value Co-Investor Share ($96) Fund Share (1.0x) ($273) N~ Return. mcltde unsealanl valuation.. The actual realm al mum of 41Ial unrealsmrd mveumvety may differ mmenally from the return indicated hereon Mom see "ApreMIX 4 .001110We fee additional oratwns and definttione Past performance is not nmemally Intlkallve of flame Mulls. 49 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0069892 SDNY_GM_00216076 EFTA01374935