LionTree Investment Banking Pitch Book

Saturn Current Analyst Price Targets Saturn currently trades at a 11.0% discount to the average analyst price target Current Series A Price: $27.80 Deutsche Bank (04/29/16) FBN Securities (04/29/16) Evercore ISI (06/12/16) Pivotal Research Group LLC (04/29/16) CLSA (05/02/16) Goldman Sachs (04/29/16) Macquarie (06/17/16) Morgan Stanley (06/22/16) Drexel Hamilton LLC (04/29/16) FBR Capital Markets (04/29/16) CM Research (03/14/16) $0.00 LionTree Source: Wall Street research Note: Stock price targets as of June 22nd $10.00 $20.00 Buy Rating $22.57 $26.00 $27.501 Target Avg.: $31.22 $80.00 $29,00 $32.00 SB0.00 $30.00 $31.00 $33.00 $35.38 $40.00 Hold Rating Sell Rating $47.00 $50.00 22

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