1.7 $11.7 $41.7 NPV of After-Tax TRA Payments - Tufts Gain $4.9 $3.1 $3.1 $11.1 NPV Total After-Tax TRA Payments $23.2 $14.8 $14.8 $52.8 NPV Value (After-Tax Proceeds + TRA Value) $112.8 $71.8 $71.8 $256.3 (1) Excludes future dividends; assumes $22 per share net price only. El ERNST & YOUN