Baird Investment Banking Pitch Book
1AM SUMMARY VALUATION ANALYSIS
Implied valuation ranges per AM Common Unit across core methodologies
$ per AM Common Unit
(1)
$60.00
$50.00
$40.00
$30.00
$20.00
$10.00
$40.56
$30.58
Discounted Cash
Flow Analysis
Valuation Methodology
Discounted Cash Flow Analysis
Discounted Distribution Analysis
Selected Public Comparables Analysis
Selected Precedent Transactions Analysis
Median
Reference Median provided for informational purposes.
$40.36
$31.51
Discounted
Distribution Analysis
$35.10
$30.58
$31.51
$24.45
$29.36
$29.97
$24.45
Selected Public
Comparables Analysis
Implied AM Common Unit Price Ranges
Low
High
$40.56
$40.36
$35.10
$43.38
$40.46
Preliminan. Draft
Reference Median (¹): $35.75
$43.38
$29.36
Selected Precedent
Transactions Analysis
Reference
Median
$35.57
$35.94
$29.77
$36.37
$35.75
BAIRD
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