XPO continued (Martin Zeman, 20 Jul 2018)

Subject: XPO continued From: Martin Zeman Date: Fri, 20 Jul 2018 11:16:09 -0400 To: "Paul Barrett Cc: Stewart Oldfield " So the stock is currently at 10x multiple. Below a few paragraphs from recent research pieces: June 28 -> XPO buying opportunity - We have fielded several questions from Investors in recent days on weakness in XPO's shares. Indeed, XPO's shares are down over 15% from recent highs achieved just two weeks ago. The weakness undoubtedly is on the back of declines across