EFTA01385387.pdf

2 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite [Figure 5: DJO Finance LLC (ENMC) WO Finne LLC (ENMC) varnadlotlobel.com Market Create FY FY Q3 03 % LTM Value I.TM 04 FY FY 5mm 2015 1016 09/30/16 09/3W17 Change 03/30/17 of Debt 09/30/17 12/31/17 2017 2018 Revenue 1114 1,155 287 291 13% 1,167 /367 298 1.172 1.196 ECITDA 240 235 63 67 5.6% 280 280 68 256 281 Interest 172 170 43 44 2.4% 171 171 44 173 174 Taxes 12 PI 2 2 .30.6% (ll) (11) 7 • caP44 44 51 9 11 201% 42 42 LI 45 50 GC, Before Working Capital and Other 11 21 9 10 78 78 13 31 57 FCF as% Net Debt 01% 09% 18% 13% 3.4% 23% 1.3% 2-5% ((ODA% 21.5% 20.4% 22.1% 230% 24.0% 24.0% 229% 2L8% 231% ustroafinterest 1.44 1.44 1.54 1.54 1.64 164 1.64 1.54 1.64 Net 1st Den Debt/EBITDA 4.64 194 3.74 174 184 &Ca 3.64 Net 2nd Lien Debt/E8ITDA 88* 7.64 7.3e 7.1x 7.5x 8.04 7.14 Net 3rd Den Debi/E8fIDA 1014 88* 8.44 814 fik 9.24 8.24 Total Deb0EMTDA 9.8* 10.24 894 854 82x 8.7k 9.3x 814 Net Debt/634nm 9.64 10 14 88* 844 8.14 864 934 824 Cash 49 35 46 39 39 39 43 43 74 Ay/WO/Olt 63 81 90 90 90 90 90 SO Liquidity 99 127 129 129 129 133 133 164 1st Lien Debt 1,110 NA 1,078 1,078 1.078 1.078 1078 1.078 2nd Lien Debt 2.111 NA 2,081 2.081 2,018 2.081 2.081 2,031 3rd Lien Debt 2,403 NA 2,387 2,387 2,300 2.387 2.387 1.387 Total Debt 2,355 2,403 NA 2,387 2,387 2.30) 2.387 2,387 2,387 Net Debt 2.306 2,368 NA 2,348 2,348 2,261 2345 2,345 2.313 Debt Structure 5150 mm Asset Based Revolver 4•225 due 06/07/20 NA ao NA 54 54 100 54 S4 54 sa 51034.5 mm Term Loan 1.325 due 06/07/20 NA 1.030 NA 1,024 1,024 103 1.014 1,024 1.024 1.024 Total Secured Debt 1,110 NA 1,078 1,078 1,078 1,078 1,078 1,078 S1015 mrn 8.125% Bond due 06/15/21 NA 1031 NA 1033 1.003 94 940 1,003 1.003 1,033 $298.5 mm 1035% Bond due 01/15/20 NA 292 NA 293 293 92 268 293 293 293 Other Unsecured Debt NA NA 13 13 103 13 13 13 13 Total Debt 2.355 2,403 NA 2,387 2,387 2.300 2,387 2,387 2.387 Preferred /Other Bask Shies Out NA NA NA NA NA NA NA NA NA NA NA Share Price NA NA NA NA NA NA NA NA NA NA NA Market CAD NA NA NA NA NA NA NA NA NA NA NA TEV NA NA NA NA NA NA NA NA NA NA NA TEV/EBITDA NA NA NA NA NCILA NAI . .41 NA NA NA &u4. Onselw Sri mar ("any ~sr Page 112 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0086671 CONFIDENTIAL SDNY_GM_00232855 EFTA01385387