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Man:alamen Garant( Lol Intlabodm thlo.ht. Mottx.f.A AWna Ria Hm%9nmCmmmm,v nJ >kt"( Caipailann.•milrafilmtGo..../routtanvill»c hann and Mat< of Sinas< ~Mig («MIJ« Supe C•0044921 ltd.m131.9141~1 .c.eillu.4nnL PMS 1 n. 7. E tamst Matte/nl vlas 1.Ps 4.11. Ao94«01. m.m. oRNnM .11.1ankaria
ON EQUITY VALUATION REPORT As of June 20, 2011 HISTORICAL AND IMPLIED EQUITY VOLATILITIES OF THE GUIDELINE COMPANIES Comparable Company Ticker s Yr Historical 2 Yr Historical 3 Yr Historical Implied Volatility Motorola Solutions, Inc. MSI 56.0% 47.2% 60.6% 26.0% Motorola Mobility Holdings. Inc. MM
Man:alamen Garant( Lol Intlabodm thlo.ht. Mottx.f.A AWna Ria Hm%9nmCmmmm,v nJ >kt"( Caipailann.•milrafilmtGo..../routtanvill»c hann and Mat< of Sinas< ~Mig («MIJ« Supe C•0044921 ltd.m131.9141~1 .c.eillu.4nnL PMS 1 n. 7. E tamst Matte/nl vlas 1.Ps 4.11. Ao94«01. m.m. oRNnM .11.1ankaria
ON EQUITY VALUATION REPORT As of June 20, 2011 HISTORICAL AND IMPLIED EQUITY VOLATILITIES OF THE GUIDELINE COMPANIES Comparable Company Ticker s Yr Historical 2 Yr Historical 3 Yr Historical Implied Volatility Motorola Solutions, Inc. MSI 56.0% 47.2% 60.6% 26.0% Motorola Mobility Holdings. Inc. MM
Man:alamen Garant( Lol Intlabodm thlo.ht. Mottx.f.A AWna Ria Hm%9nmCmmmm,v nJ >kt"( Caipailann.•milrafilmtGo..../routtanvill»c hann and Mat< of Sinas< ~Mig («MIJ« Supe C•0044921 ltd.m131.9141~1 .c.eillu.4nnL PMS 1 n. 7. E tamst Matte/nl vlas 1.Ps 4.11. Ao94«01. m.m. oRNnM .11.1ankaria
ON EQUITY VALUATION REPORT As of June 20, 2011 HISTORICAL AND IMPLIED EQUITY VOLATILITIES OF THE GUIDELINE COMPANIES Comparable Company Ticker s Yr Historical 2 Yr Historical 3 Yr Historical Implied Volatility Motorola Solutions, Inc. MSI 56.0% 47.2% 60.6% 26.0% Motorola Mobility Holdings. Inc. MM
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