Bank of America Investment Banking Pitch Book

Appendix Pioneer Storm Performance and Outlook Revenue Gross Profit 96 Margin Q1A $3.1 $0.9 29.0% 2014E Q2A $21.8 $11.7 53.7% Source: Monogament views and forecasts from Pioneer Management. $32.1 Full Year 2014E Q3A !Apr-9 Forecast June Estimate | Apr-9 Forecast June Estimate $10.7 33.5% I I LOX For more investment banking materials, visit www.10xebitda.com $13.8 $4.1 04 2014E 30.0% $3.9 $1.1 27.0% I $70.8 $28.0 39.5% $60.9 $24.4 Estimate as of July 5, 2014 ates 2014 storm revenue of $64mm 40.1% 2015E $75.0 $22.5 30.0% April 9 Forecast 2016E $75.0 $22.5 Bank of America Merrill Lynch 30.0% 2017E $75.0 $22.5 30.0% 2018E $75.0 $22.5 30.0%

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