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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

resulting selected adjustment for lack of marketability. MANAGEMENT PLANNING, INC. STUDY FACTORS AND SELECTED ADJUSTMENT FOR LACK OF MARKETABILITY Quartiles Company Comparable Fact or 1 2 3 4 Discount Average Revenues ($ millions) $114-042 $35.809 $1 8 . 05 7 $5-970 $ 86.781 Average Discount

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

resulting selected adjustment for lack of marketability. MANAGEMENT PLANNING, INC. STUDY FACTORS AND SELECTED ADJUSTMENT FOR LACK OF MARKETABILITY Quartiles Company Comparable Fact or 1 2 3 4 Discount Average Revenues ($ millions) $114-042 $35.809 $1 8 . 05 7 $5-970 $ 86.781 Average Discount

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

resulting selected adjustment for lack of marketability. MANAGEMENT PLANNING, INC. STUDY FACTORS AND SELECTED ADJUSTMENT FOR LACK OF MARKETABILITY Quartiles Company Comparable Fact or 1 2 3 4 Discount Average Revenues ($ millions) $114-042 $35.809 $1 8 . 05 7 $5-970 $ 86.781 Average Discount