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397 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 20, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Al
1~ ef Aalt Cm/. n • Inc Sisenieni Reimer »Mai anpel7d EMT (Ana.. (%. Nei Imam D114•4419 PS 1.1117.) 1444949 Ceripsictiina49.4nd filwrili LT Ming. Ilex NA NA Triuma914449.4~ F44444.11(44.4(114, LIM i2å Ter F.admi Det(3141411 1/4941•2039 045, 31.74111 311,11 »11 3011 57133 56599 WC
296 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 20, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Al
1~ ef Aalt Cm/. n • Inc Sisenieni Reimer »Mai anpel7d EMT (Ana.. (%. Nei Imam D114•4419 PS 1.1117.) 1444949 Ceripsictiina49.4nd filwrili LT Ming. Ilex NA NA Triuma914449.4~ F44444.11(44.4(114, LIM i2å Ter F.admi Det(3141411 1/4941•2039 045, 31.74111 311,11 »11 3011 57133 56599 WC
195 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 20, 2011 August 3, 2011 Mr. Michael Tamaru Chief Financial Officer AliphCom 99 Rhode Island Street, 3 ni floor San Francisco, CA 94103 Dear Mr. Tamaru: We have completed our analysis of the fair market value of the common equity of AliphCom ("Al
1~ ef Aalt Cm/. n • Inc Sisenieni Reimer »Mai anpel7d EMT (Ana.. (%. Nei Imam D114•4419 PS 1.1117.) 1444949 Ceripsictiina49.4nd filwrili LT Ming. Ilex NA NA Triuma914449.4~ F44444.11(44.4(114, LIM i2å Ter F.admi Det(3141411 1/4941•2039 045, 31.74111 311,11 »11 3011 57133 56599 WC
Entities connected to both Rhode Island Street and LT Ming
ALIPHCOM
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the Board of Directors
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ORGANIZATIONSequoia Capital
ORGANIZATIONMichael Tamaru
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