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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
xne was and hun basnehooserldslek 194.994pares ~Os 44141k aas to som.° mlettninanow som 19:41 int srchmels aW Oe WAM IMLN Massa] Jat NIM« essem pis Ahmsk. seseiviui ~bias...It. ~mi 'ad ambst4.46 sarom NON.. 9.9.44I41 As sas u.5.41.6 lommemblaIdesiss.. lø phdas hee(sesi.e.dwin1 anl wdelia A 5w Oul csu
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
xne was and hun basnehooserldslek 194.994pares ~Os 44141k aas to som.° mlettninanow som 19:41 int srchmels aW Oe WAM IMLN Massa] Jat NIM« essem pis Ahmsk. seseiviui ~bias...It. ~mi 'ad ambst4.46 sarom NON.. 9.9.44I41 As sas u.5.41.6 lommemblaIdesiss.. lø phdas hee(sesi.e.dwin1 anl wdelia A 5w Oul csu
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
xne was and hun basnehooserldslek 194.994pares ~Os 44141k aas to som.° mlettninanow som 19:41 int srchmels aW Oe WAM IMLN Massa] Jat NIM« essem pis Ahmsk. seseiviui ~bias...It. ~mi 'ad ambst4.46 sarom NON.. 9.9.44I41 As sas u.5.41.6 lommemblaIdesiss.. lø phdas hee(sesi.e.dwin1 anl wdelia A 5w Oul csu
Entities connected to both Rhode Island Street and Ahmsk
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the Board of Directors
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ORGANIZATIONSequoia Capital
ORGANIZATIONMichael Tamaru
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