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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
11.1014 Det.31.3.10 NA NA NA NA INA INA INA A NA 4). 0. NA NA NA 0. O6 0% ▪ ltal Beau a. M444, I "MM% land Dams Laya ha. smal” Neleded Baia %Mien, 1884-4.16q47 Saal. Smala Whife. Mn Ø. LIT•14 Lam% /oh 11.6186 811117n sana) oc /kat IbodEttnattiliecthandmt and (bunna et Emma Carmes rotz
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
11.1014 Det.31.3.10 NA NA NA NA INA INA INA A NA 4). 0. NA NA NA 0. O6 0% ▪ ltal Beau a. M444, I "MM% land Dams Laya ha. smal” Neleded Baia %Mien, 1884-4.16q47 Saal. Smala Whife. Mn Ø. LIT•14 Lam% /oh 11.6186 811117n sana) oc /kat IbodEttnattiliecthandmt and (bunna et Emma Carmes rotz
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
11.1014 Det.31.3.10 NA NA NA NA INA INA INA A NA 4). 0. NA NA NA 0. O6 0% ▪ ltal Beau a. M444, I "MM% land Dams Laya ha. smal” Neleded Baia %Mien, 1884-4.16q47 Saal. Smala Whife. Mn Ø. LIT•14 Lam% /oh 11.6186 811117n sana) oc /kat IbodEttnattiliecthandmt and (bunna et Emma Carmes rotz
Entities connected to both Rhode Island Street and Neleded Baia %Mien
ALIPHCOM
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the Board of Directors
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Michael Jackson
PERSONAH Capital Management
ORGANIZATIONSequoia Capital
ORGANIZATIONMichael Tamaru
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