,000 Common 1,260,233 x 3.96792 = 5,000,000 I was told on call that valuation of company at time of Series 5 was 1,650,000 post Series 6, 7, 8 and Blackrock note have further diluted our investment and although they would not give me an exact figure our new breakeven without Series 8 participation appear

000 Blackrock final 395,000,000 Total raised As of Sep 11, 2015 there cash flow was as follows: 30,000,000 in cash 85,000,000 (Series 8 and final Blackrock) 115,000,000 potential cash EFTA00845005 Once 85,000,000 is secured they will finalize deal for an ABL credit line in the amount of 50,000,000 th

Total loss Posture to Other Stakeholders Friendly Hostile Conditions to Complete Transaction JPM to provide working capital bridge - requiring Blackrock's consent High risk of business interruption / chapter 7 liquidation Fitbit Litigation Financing Third party term sheet secured. Potential upside

ILLUSTRATIVE COMPARISON OF JAWBONE OPTIONS CRITERIA OPTION 1 - CITIC / JPM LED REFINANCING OPTION 2 - LIQUIDATION SALE Value to Blackrock $50 million new rollover note, plus $25 million in cash, less fees, expenses and litigation costs, subject to contract and diligence $100 million

,000 Common 1,260,233 x 3.96792 = 5,000,000 I was told on call that valuation of company at time of Series S was 1,650,000 post Series 6, 7, 8 and Blackrock note have further diluted our investment and although they would not give me an exact figure our new breakeven without Series 8 participation appear

000 Blackrock final 395,000,000 Total raised As of Sep 11, 2015 there cash flow was as follows: 30,000,000 in cash 85,000,000 (Series 8 and final Blackrock) 115,000,000 potential cash Once 85,000,000 is secured they will finalize deal for an ABL credit line in the amount of 50,000,000 that will be coll

000 Blackrock final 395,000,000 Total raised As of Sep 11, 2015 there cash flow was as follows: 30,000,000 in cash 85,000,000 (Series 8 and final Blackrock) 115,000,000 potential cash Once 85,000,000 is secured they will finalize deal for an ABL credit line in the amount of 50,000,000 that will be col

,000 Common 1,260,233 x 3.96792 = 5,000,000 I was told on call that valuation of company at time of Series 5 was 1,650,000 post Series 6, 7, 8 and Blackrock note have further diluted our investment and although they would not give me an exact figure our new breakeven without Series 8 participation appear

trategic Income Opportunity Fund run by Rick Reider at Blackrock. With your permission we will sell the Pimco Position today and replace it with the Blackrock fund, the overview is attached here. Thanks, Lyle Lyle Casriel Senior Vice President — Investments Private Wealth Advisor I Portfolio Manager

be out first than last. A similar fund that we do like and have been using for years is the Strategic Income Opportunity Fund run by Rick Reider at Blackrock. With your permission we will sell the Pimco Position today and replace it with the Blackrock fund, the overview is attached here. Thanks, Lyle L

raised 2 EFTA_R1_01606255 EFTA02486997 As of Sep 11, 2015 there=cash flow was as follows: 30,000,000 in cash40 85,000,000 (Series 8 and final Blackrock) 115,000,000 potential cash Once 85,000,000 is s=cured they will finalize deal for an ABL credit line in the amount of 50,0=0,000 that will be col

,000 Common 1,260,233 x 3.96792 = 5,000,000 I =as told on call that valuation of company at time of Series 5 was 1,650,00= post Series 6, 7, 8 and Blackrock note have further dilut=d our investment and although they would not give me an exact figure our n=w breakeven without Series 8 participation appear

s achieved they =ould have raised since April 28 2015: 220,000,000 Blackrock original =ote 40,000,000 Series 8 JPM (34) and Sequia =6) 50,000,000 Blackrock =dditional 35,000,000 Series 8 (33mm raised =c) date) 50,000,000 =nbsp; Blackrock final 395,000,000 =nbsp;Total raised As of Sep 11, 2015 there =

0,000 Common 1,260,233 x 3.96792 = =,000,000 I =as told on call that valuation of company at time of Series 5 was =,650,000 post Series 6, 7, 8 and Blackrock =ote have further diluted our investment and although they would not =ive me an exact figure our new breakeven without Series 8 participation =ppea

is achieved they =ould have raised since April 28 2015: 220,000,000 Blackrock original =ote 40,000,000 Series 8 JPM (34) and Sequia =6) 50,000,000 Blackrock =dditional 35,000,000 Series 8 (33mm raised =0 date) 50,000,000 =nbsp; Blackrock final 395,000,000 =nbsp;Total raised As of Sep 11, 2015 there =a

= =,000,000 EFTA_R1_01307150 EFTA02341470 I =as told on call that valuation of company at time of Series 5 was =,650,000 post Series 6, 7, 8 and Blackrock =ote have further diluted our investment and although they would not =ive me an exact figure our new breakeven without Series 8 participation =ppear

trategic Income Opportunity Fund run by Rick Reider at Blackrock. With your permission we will sell the Pimco Position today and replace it with the Blackrock fund, the overview is attached here. Thanks, Lyle CONFIDENTIAL UBSTERRAMAR00000653 EFTA00236352 Lyle Casricl Senior Vice President—Investmen

be out first than last. A similar fund that we do like and have been using for years is the Strategic Income Opportunity Fund run by Rick Reider at Blackrock. With your permission we will sell the Pimco Position today and replace it with the Blackrock fund, the overview is attached here. Thanks, Lyle C

ere never aware of how dire position was that hosain has had to fund payroll if things were moving in right direction how come they are feuding with Blackrock medtronic and microsoft were 2 proposed partnerships yet medtronic signs deal with titbit https://investor.fitbit.com/press/press-releases/press-re

000 Blackrock final 395,000,000 Total raised As of Sep 11, 2015 there cash flow was as follows: 30,000,000 in cash 85,000,000 (Series 8 and final Blackrock) 115,000,000 potential cash Once 85,000,000 is secured they will finalize deal for an ABL credit line in the amount of 50,000,000 that will be col

e active at the companies in which they invest. What's more, very large traditional asset managers such as EFTA00469171 Vanguard, State Street and Blackrock as investment stewards are becoming more interested in hearing from activist investors to see if they can add value to the companies owned by their

of the strongest assets classes • Discount discussed — 30% = £4.3b acquisition price • Average length of loans - 15 years • According to recent Blackrock led Irish Central Bank stress test max. loan losses - even on stressed scenario is 1.4% of book value (£86m) Book Returns • Book is on floating t

s a case against Fitbit pending in state court in California.) A BlackRock fund holding $216 million of the debt wrote it down by 77%, while other Blackrock funds holding about $49 million of the debt wrote it down by 61%. EFTA00630739 Mr. Rahman stood by the decision to sue. "We have a fiduciary obli

r for Capital President and CEO David Hirschmann, Executive Vice President Tom Quaadman, Schneider National former President and CEO Chris Lofgren, Blackrock Vice Chairman Barbara Novick, Peck Madigan Jones Consultant Jay Heimbach, Liberty Mutual Senior Vice President and Chief Public Affairs Officer Ed

Confidential Good Morning Rich - Sooner and more aggressive QE is expected from the ECB on Sep 4th. You likely saw the headline that ECB employed Blackrock for advice on asset purchases. DB commentary attached. Clearly, 9/4 is a critical day - before 9/8 expiration. EURUSD Spot Ref: 1.3176 <client> s

11 or early 2012. with 10 such funds expected to be launched by Sino- foreign fund ventures in the next five years. China ventures of Deutsche Bank. Blackrock. Invest* Ltd and other foreign institutions with ETF expertise are likely to be among the first fund houses allowed to launch global ETFs in China,

Muni 1-5 Yr Index 0.7% 4.2% 4.1% Barclays Capital Muni Bond Index 1.9% 10.7% 6.3% Municipal/Corporate Citi - Muni/Corporate Bonds (Formerly Blackrock) 1/31/2009 10,305,749 10,974,987 52,043 11,027,030 0.5% 3.0% 3.7% Total Municipal/Corporate 1/31/2009 $10,305,749 $10,974,987 $52,043 $

er for Capital President and CEO David Hirschmann, Executive Vice President Tom Quaadman, Schneider National former President and CEO Chris Lofgren, Blackrock Vice Chairman Barbara Novick, Peck Madigan Jones Consultant Jay Heimbach, Liberty Mutual Senior Vice President and Chief Public Affairs Officer Ed

rm Muni Bonds $5,919,291 Morgan Stanley -Short Term Muni Bonds $1,133,405 Municipal/Corporate $11,027,030 Citi - Muni/Corporate Bonds (Formerly Blackrock) $11,027,030 Corporate Bonds $1,418,759 Seix $1,418,759 Global Bonds $5,024,729 Templeton Global Bond Fund $5,024,729 Hedge Funds -Direct

r for Capital President and CEO David Hirschmann, Executive Vice President Tom Quaadman, Schneider National former President and CEO Chris Lofgren, Blackrock Vice Chairman Barbara Novick, Peck Madigan Jones Consultant Jay Heimbach, Liberty Mutual Senior Vice President and Chief Public Affairs Officer Ed