Y2016E PF Total EBITDA: 4.7x • $117 million total liquidity - S67 million of cash at close and $50 million undrawn revolver • Net Debt") / FY2016E PF Total EBITDA : 3.1x Ira 'Ism (ion Struk lure Acquisition Financing \ ()ice Fotipoints egact PBM 'Bond' Holding Company Polycom Video Fodpoints (\1(`U-

equity) • Daniel Moloney, Mary McDowellm, Michael Seedman Entry Valuation & Liquidity/Leverage Valuation Liquidity/ Leverage • TEVw / FY2016E PF Total EBITDA: 4.7x • $117 million total liquidity - 567 million of cash at close and $50 million undrawn revolver • Net Debt") / FY2016E PF Total EBITDA : 3.1x