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WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307294 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S
and Series t-A pre& Call IS- Call s6 BetweenSeries i-A & r-B sod Series -Cs lig. pref. Call as - Call vs BetweenSeries i-Cs and Series 22 basic Ox) lig. pref. Call 13- Call t4 Between Serks 2b basic(.]) and Series 3's lig. pref. Call a2- Call v3 BetweenSeries VI sod Series gb S's lig. pref. Call
WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307193 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S
and Series t-A pre& Call IS- Call s6 BetweenSeries i-A & r-B sod Series -Cs lig. pref. Call as - Call vs BetweenSeries i-Cs and Series 22 basic Ox) lig. pref. Call 13- Call t4 Between Serks 2b basic(.]) and Series 3's lig. pref. Call a2- Call v3 BetweenSeries VI sod Series gb S's lig. pref. Call
WTAS VALUATION SERVICES GROUP AliphCom Common Equity Valuation as of June 20, 2011 CONFIDENTIAL EFTA00307395 WTAS ALIPHCOM — COMMON EQUITY VALUATION REPORT As of June 2o, 2011 Table of Contents Transmittal Letter Definition of Value Scope of Engagement Conclusion S
and Series t-A pre& Call IS- Call s6 BetweenSeries i-A & r-B sod Series -Cs lig. pref. Call as - Call vs BetweenSeries i-Cs and Series 22 basic Ox) lig. pref. Call 13- Call t4 Between Serks 2b basic(.]) and Series 3's lig. pref. Call a2- Call v3 BetweenSeries VI sod Series gb S's lig. pref. Call
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