Evercore Investment Banking Pitch Book
Unitholder Tax Analysis
Illustrative SIRE Unitholder Tax Analysis at $24.00 / unit (cont'd)
Millions)
Units
0.6
0.5
0.4
0.3
0.2
0.1
0.0
--$
First Decile
Second Decile
Third Decile
Fourth Decile
Fifth Decile
Implied Taxes @ 37.0% Ordinary Gain / 20.0% Capital Gain
Tax Liability Deciles ($ per unit)
$0.69 $1.34
$1.34 $1.96
$1.96 - $2.37
$2.37 $2.69
Sixth Decile
Seventh Decile
Eighth Decile
Ninth Decile
Tenth Decile
$2.69 $2.81
Weighted Average
Total Tax Liability of Unaffiliated Unitholders ($MM)
EVERCORE
$0.08
$0.16
$0.24
$0.32
$0.40
$0.48
$0.56
$0.64
$0.72
$0.80
$0.88
$0.96
$1.04
$1.12
$1.20
$1.28
$1.36
$1.44
$1.52
$1.60
$1.68
$1.76
Confidential - Preliminary and Subject to Change
Net Taxes Paid per SIRE Unit
52
$2.81 - $2.87
$2.87 $3.03
$3.03 - $3.20
$3.20 - $3.35
$3.35 - $3.42
$2.61
$14.9
$2.16
$2.24
$2.32
$2.40
$2.48
$2.56
$2.64
$2.72
$2.80
$2.88
$2.96
$3.04
$3.12
$3.20
$3.28
$3.36
$3.44
$3.52
$3.60
$3.68
$3.76
$3.84
$3.92
$4.00
ŞİŞECAMView entire presentation