LionTree Investment Banking Pitch Book

Saturn / Luna Historical Exchange Ratio 1.400x 1.300x 1.200x 1.100x 1.000x 0.900x 0.800x 0.700x 6/13/2015 LionTree Source: FactSet Favors Saturn Favors Luna Draft Working Materials - Subject to Change Note: Assumes 100% stock transaction витра Exchange Ratio 1.224x Current 1-Month Average 3-Month Average 1.262x 1.251x 6-Month Average 1.178x 1-Year Average 1.106x 10/13/2015 Exchange Ratio (Saturn Share Price / Luna Share Price) 2/13/2016 1-Year Avg. 1.224x 1.106x 6/13/2016 38

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