EFTA01378191.pdf

SRLP102 Alpha Group Capital Creating Mavenir: Xura + Mite! Mobile & Ranzure Follow-on Acquisitions Mite! Mobile Sr Ranzure Overview Valuation • On January 31, 2017 Xura acquired Ranzure Networks — a Mitel Mobile provider of 4G / 5G virtualized cloud radio access network Mitel Acq. (Apr-151 Xura Acq. Valuation (Dec-16)0) ("RAN") software solutions for MNOs 6 — Total consideration of -S8 million 513 million of equity net of $5 million of cash from Ranzure as, • On February 28, 2017, Xura closed the acquisition of Mitel 2.0x Mobile — a leading provider of MNO network infrastructure for 4G LTE / 5G networks, with a footprint across 200 global MNOs and —2 billion mobile subscribers on its platform TEV 000freps F fleE — Total consideration of $484 million EN:Airco. o $359 million cash and non-interest bearing seller note') Pro Forma \ ura + NIitel Mobile + Ranzure o $125 million subordinated equitya) 8.8x CS) 7.5x (4) — Mitel had acquired Mitel Mobile for 5560 million in April 2015 • The combined company was rebranded Mavenir upon closing of Mitel Mobile acquisition Xure Standalone Pro Forme Combined Follow-on Investment I Highlights l'ro Forma Financials • Strengthens Bond products market share and expands Call Dis- Option opportunity Xura Mitel Synergies PF • Positions the pro forma company for double digit growth (ex-Enterprise) Mobile and PF Total — Bookings and EBITDA growth with projected 5-year CAGRs of $ in millions Adjust.E71 -15%, up from 3% and 5%, respectively • Significant run-rate cost savings opportunity in excess of $100 Bookings $264 $181 ($62) $383 million PF EBITDA $92 $58( 8) ($27) $123 • $100nun+ cross-sell opportunity in new combined entity leveraging Xura's worldwide presence and Mitel Mobile's % Margin 34% 32% 32% enhanced product portfolio Nolen Cl) 335 million non Inured biasing nom doe a the ertirr al elan rettnanong old l0yme5 Asstinsol lemma valued 59 minim Need 011 d 14.51amount reaped. Inland the all on lam Mart nee)twa klyears (2) Pan nth.perlinlwaim in dionbution Jibt NYmiM IIVCAW &It 'KR illy.' at $1.11minket (7) Mulopla herdam punted rrwe $315 million peon .rnd non Miami beenemsena nem,: monism %Mel Mobile 511111M 4 S55.2 mason (1) ITV al ST12-5 denim: SIM0u naal edam • O1±0r oU dam 1515am ed tasseasee mmates O1.1nalmum mat Sir maim aceas sei rile kw append Ones -STE21mm: EIVIVA et TA? unlhon0raludinneannemi Entavrise •oonabsatat ol 514 n Ilion L131TPAI (5) Xure tn.of S71;t3 mann, • Maar. atom el $.3C.3mdlien • Reiman In el 57.8 ',When • Ina. Rentneaunng Rmerve d $7.3 mama.- PP TEN' el $1.071.7 mantel: PT EBIlljet et $1n7 Indian (Ste nulbon Xure ex Enlopme EBITDA • $58.2 mdbon bon 310.4 Sltestle 5150 mullion so do ionempos 56.1 mdbee <4 Partare 3516 Elf11)A Mew. SIOnullenn .4 TUC :016 knIT1M !OW* 9122.7 ram] Sims Indladmestsmatod Nttiel %lob& 'mine (014 synergism ol 5155 maim • I! is nos tons top law lwednutda atenhs•nt to Na nem-Limn ea commets noltbold new onlen end thaledmou d revlom Potenst es lay mean ‘Iealty on the go lom anl nodamp, prodtat mla2w,wrvkvs levelsonomni (mauve. elt. 28 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0075352 CONFIDENTIAL SDNY GM_00221536 EFTA01378191