EFTA01374920.pdf

SRLP102 Alpha Group Capital Mavenir: Summary Transaction Overview at Entry tin iris 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) \fishile Uri \ ni.rmad Security Collect Other VAS integration kidrrpriw I'XCC utirI • Hubert de Pesquidoux, Rod Randall, Merle 20161t Bonds" Rooking.P):1,214 mot Divestecksnet - Rumen Gilmore, Ted Schell, Kai Oistamo Non-coui'asset Entry Valuation &Liquidity/Leverage Entry Summary Financials (F? 2016Er) • TEV(I) / PF2016E Total EBITDA: 75x Projected Cost Total Valuation £ nr, millions Savings • TEV0) / PF2016E FCF Before Interest 8.3x Bookings $293 $293 • S152 million total liquidity - $127 million of cash PF EBITDA $25 $70 $95 at close and $25 million undrawn revolver 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.Ox Note: Plate we Appends-Focaneaof and "Stns. Diselanwe and Caw Studio(' for Important informauon. addaloral 00CilliktallI0110 and definitsorn. (I) Total Eaterprne ValueMr:la 5425.0nvn total <quay • $342.0 2701 total debt Weinwri of transwoon expenses 552.1 nunirnurn cash • $0.7 minion of cad. get aside for approw/ shareaa 5711.3 non / 543.2mm PF20I6ETC414 EBITDA a 7.5x. TEV/ M0E PT FCF More hatred of 146mm a 8.1‘. motet (2) Net Debt -5342 rran totd debt • 552.1 torn cash on balance sheet -$249.4 wen net debt / 5952 nun Total EBITDA - :40x. (51 Bond Donbass includes maintenance. Bookings are cortadered the boo proxy for revenue. (4) Flee., year ending January 31.2)I7 prep id resultschanne$ underwnting SIRIs (5)PT EBITDA represents Tot ENTDA including the comrany's protected !ovine* of a t nos by the end of Q2 20IoE plus an additional 570 mm Sins' projected cod smogs lopencapex) over wind in years as if realued as e126 to440"`r /lc entry. There can be no eguranoe such cots savings vnll be achieved. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0069869 CONFIDENTIAL SDNY_GM_00216053 EFTA01374920