EFTA01374918.pdf

SRLP102 Alpha Group Capital Polycom: Summary Transaction Overview at Entry (h, tin ivy% Ira 'Ism (ion Struk lure • Polycom is a leading global provider of open, Business standards-based unified communications ("UC') Description solutions for voice and video communication Holding Company and content sharing tio, , ing Date • Acquisition: September 27, 2016 Polycom Capital Acquisition • Total Equity & Debt: 51,584 mm Structure at Financing .• Total Equity: $659 mm Entry • Total Deka): $925 mm I \ ()ice Video Voice Video Co-Investors • LP co-invest of 5319mm (49% of equity) Fotipoints Fodpoints Endpoints Endpoints egact PBM (\1(`U-foctit,ed) (L;CaaS) (UCaaS) Executive • Daniel Moloney, Mary McDowellm, Michael Nit Interop-as-a- Partners Seedman 'Bond' I'Litfocm Service Entry Valuation & Liquidity/Leverage Entry Summary Financials (FY 2016E) • TEV(" / FY2016E PF Total EBITDA: 4.7x Projected Net Valuation Total Cost Savings PF Total Revenue $1,163 $1,163 • $117 million total liquidity - S67 million of cash at PF EBITDA(5) $201 $75(5) 5276 Liquidity/ close and $50 million undrawn revolver Leverage % Margin 17% 24% • Net Debt") / FY2016E PF Total EBITDA : 3.1x Nan Pismo sou ApisoJessFeotootes- and 'Sins Dv-Jaime?' and 'Caw Studve for irnportanl inFonnanort aldsvonal ovvielerabons and Jo/Lotions D470 mm 1" I nn Dek • $173.0 mg', • rd Urn Debt - $O25.0 mm Taal Debt (est-hairsSW mm meals mt (mkt Is tiny tank..n ea . I21Ms. McDonsll now ben-was CEO of Polyown 031Totat Entemme Value MEV') s So50.0 mm total *Judy • So-50mm total dew- 5211.5 mm of transaction aspens,' - 5o7.2 mm of men:m.11.watt s 51,505-1mm / Sro.2 mm Flier PF Total113111M -47s IsPgat Dals s 9;on0 mm vAel debt - 567.2 men (when balanwJvw s SP.57.19 awn flabi / 52%2 own FY1OF PF PRIMA s • ' SIRIS cc-Aga- 'SIP/ENT DA ropresants Total EMMA including5ns' prowntod no %row savings of MO lush tow aw roes sail w achieved. (940 miWm gross SOVIIW, Ora SI 5 million Flt1 Fnplawnent costs) over usual two yews as d wanted a envy. There can be no 23 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0069866 CONFIDENTIAL SDNY_GM_00216050 EFTA01374918