PJT Partners Investment Banking Pitch Book

Summary of Offer Consideration for Solar Shares EXCLUDES SHARES OWNED BY LUNAR ($ per share) Class A Dilutive Securities (Treasury Method) Class B Weighted Average Fully-Diluted Securities (mm) 85.5 6.2 7.3 99.0 Offer Consideration Illustrative $ per Share Exchange Ratio $32.06 $32.06 $33.47 $32.17 1.5467x 1.5467x 1.6145x 1.5517x Cash Consideration $ per Share Source: Capital IQ and company filings. Note: Market data as of 6/21/16. Excludes 2.118mm Solar Class A and 2.591 Solar Class B shares owned by Lunar Management. $18.00 $7.26 $16.09 Equity Consideration $ per Share Exchange Ratio $14.06 $32.06 $26.21 Confidential $16.08 0.6784x 1.5467x 1.2643x 0.7755x PJT Partners 4

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