o lw:1EB1711/1 mottle': 10_72x Weighted Average Multiple• 9.7b Note: 6311DA 2016 dots not include one.teise everts* of $150 millon ratite:Ito the Wteratfut of Con.Way. However. the Cilptt4t 4 eorodered in the valuation. "Vetted by term( MID& cortribuoon to >90's taut EINTDA 5.85x 5.77x Our bear case