Epstein Secrets

9 99.9 11.3% 2014 155.3 111.7 11.8% CAGR: 2009-14 Source: Datamonitor 10.1% DATAMONITOR • Sources: Standard & Poor's Industry Surveys (n, the Datamonitor Group, and information provided by management. CONFIDENTIAL I WTAS LLC 13 EFTA00307408 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of June 20

allICI11% IA") S0 Partial period adjustment (B-A,C) $13,460 10) DISCOUNT RATE The discount rate was estimated based on the weighted average cost Dr capital CWACC') for the Company as 01 the Valuation Date. We incorporated an additional risk premium to Felled the risk or achieving the threaded economics. Concl

9 99.9 11.3% 2014 155.3 111.7 11.8% CAGR: 2009-14 Source: Datamonitor 10.1% DATAMONITOR • Sources: Standard & Poor's Industry Surveys (n, the Datamonitor Group, and information provided by management. CONFIDENTIAL I WTAS LLC 13 EFTA00307307 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of June 20

allICI11% IA") S0 Partial period adjustment (B-A,C) $13,460 10) DISCOUNT RATE The discount rate was estimated based on the weighted average cost Dr capital CWACC') for the Company as 01 the Valuation Date. We incorporated an additional risk premium to Felled the risk or achieving the threaded economics. Concl

9 99.9 11.3% 2014 155.3 111.7 11.8% CAGR: 2009-14 Source: Datamonitor 10.1% DATAMONITOR • Sources: Standard & Poor's Industry Surveys (n, the Datamonitor Group, and information provided by management. CONFIDENTIAL I WTAS LLC 13 EFTA00307206 WTAS ALIPHCOM - COMMON EQUITY VALUATION REPORT As of June 20

allICI11% IA") S0 Partial period adjustment (B-A,C) $13,460 10) DISCOUNT RATE The discount rate was estimated based on the weighted average cost Dr capital CWACC') for the Company as 01 the Valuation Date. We incorporated an additional risk premium to Felled the risk or achieving the threaded economics. Concl