EFTA01378189.pdf

SRLP102 Alpha Group Capital Mavenir: Summary Transaction Overview at Entry tin tern Ira 'ism tion Strut lure • Leading provider of voicemail, mobile Business messaging, security, collect and other value- Description added services solutions to mobile network operators ("MNOC) • Acquisition: August 19, 2016 Closing Date • Follow-on acquisitions of Mitel Mobile & Ranzure Acquisition in Q12017, and rebranded Xura to Mavenir Financing Capital Total Equity & Debt: $770 mm Structure at Total Equity: $428 mm Entry Total Debt: $342 mm "Call Option" Co-Investors • LP co-invest of $228mm (53% of equity) \ o,.emu! \intuit. Uri Security Collect Other VAS integration kidrrpriw NIrssaging I'XCC utirI • Hubert de Pesquidoux, Rod Randall, Merle 20161t Bonds" Divestecksnet - Rooking.P):1,214 mot Rumen Gilmore, Ted Schell, Kai Oistamo Non-coui'asset Entry Valuation &Liquidity/Leverage Entry Summary Financials (F? 2016Er) • TEV(I) / PF2016E Total EBITDA: 75x Total Projected Cost Valuation £ nr, millions Savings • TEV0) / PF2016E FCF Before Interest 8.3x Bookings $293 $293 • S152 million total liquidity - $127 million of cash at close and $25 million undrawn revolver PF EBITDA $25 $70 $95 Liquidity/ - $75 million cash reserve to fund restructuring, % Margin 8% 32% Leverage potential tax and legal liabilities, and strategic initiatives • Net Debto) / PF2016E Total EBITDA: 3.0x Note: Plate we Appends-Focaneaof and "Stns. Diselanwe and 'CawStudio(' for Important informauon. &MUM:Mei 00CilliktallI0110 and Mout aro (I) Total Eraerpore ValueMr:la 512t0nvn total <quay • 4342.0 2701 total debt Weinwri of transwoon expenses 552.1 nunirnurn cash • $0.7 minion of cad-. get aside for approw/ sharroa 57113 non / 543.2mm PF2016E Taal EBITDA 7.5a. TEV/ 201eE PT FCF before hatred of 146mm a 8.1‘. motet (2) Net Debt - $242 rran totd debt • 552.1 torn cash on balance sheet -$209.° wen net debt / S9S2 nun Total EBITDA - :404. (7) Bond Donbass includes maintenance. Bookings are cortadered the boo proxy for revenue. SIRIs (4) Flee., year ending January 31, 2)I7 prepwied resultschanne$ underwnting c—c-,,,cooln. (5) PT EBITDA represents Total ENTDA including the comrany's protected None* of There can be no aura/toesuch con savings mil be achieved. a I d26 rigs by the end of Q2 20IoE plus an additional 470 mm Sins' projected cod smogs lopencapex) over maid tws years as if reahred CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0075350 CONFIDENTIAL SDNY_GM_00221534 EFTA01378189