EFTA01378160.pdf

Differentiated investment strategy: Investing in "Bonds" and "Call Options-2 • Siris' strategy is to Invest in technology companies in transition that have both a strong legacy business as well as robust next generation growth in:tie:Ives Technology Transition Legacy Who*loth. Growth teclutolosie4 (44.3G) (e.s. 4G ) SIRIS I 474cy Business - 'Bond" Next-Generation Growth Business - "Call Option" Chanctedstics: Characteristics: • Mission-cntical products and services • Participation in disruptive "mega' technology trends • Leading market share; extremely sticky customer base • Significant potential upside • Predictable, consistent cash flows • Typically unprofitable, nascent businesses at acquisition • Target potential for - 2.0x Gross MOIC through cash • Target potential for outsized returns through strategic sale flows:. focus on recouping investment within 24 months or IPO Business Examples: Fixed line, 2G / 3G, legacy mainframe Business Examples: 4G. cloud computing, mobile security, software, fault tolerance servers distributed software and applications iC Bond vs (`all Opt if • Evaluate: Assess "Call Option- growth business separately from "Bond" legacy business • Structure: Develop separate & distinct organizational structures and compensation plans for each "business" to support execution Execute: Optimize legacy business for cash flow and extend product life; strategically develop growth business Highly experienced team with deep operational and financial expertise& Differentiated capability to source, diligence, and add value to technology businesses in transition • Deep, experienced team comprised of 34 total employees and 11experienced former operating executives ("Executive Partners") and senior advisors • Long tenure of Sins Founders - Frank Baker, Peter Berger, & Jeffrey Hendren who have worked together for over 18 years • Executive Partners deployed to help strategic and operational objectives Executive Partners & Senior Advisors Robert Aquiline at&t Hubert de aacatei.Lucent 6 Rick Mace ©Ma At Former President of Pesquidoux I Former COO of Bell Consumer Division of AT&T Former CFO of Alcatel Lucent Lejlantic Network (now Verizon) 1 Merle Gilmore Former EVP and Pres. of Ah; mesas Bethany Mayer (Senior Advisor) ixia Ted Schell Former Senior VP of Strategy %Kim Communications, Motorola Former CEO of Ixia and Corp. Dev., Sprint 1274 Daniel Moloney C:o; ogle Alfred Zoller Rod Randall Former President of Motorota Former GM of IBM Tivoli Software Former Chief Marketing Officer Mobility of Lucent Denotes Executive Partners John Sweinson Michael Seedman usastiodes who have worked with the 3 Former President of Dell Software Former VP and GM of U.S. Robotics Sins founders over 15 years CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0075321 CONFIDENTIAL SDNY_GM_00221505 EFTA01378160