EFTA Document EFTA01366537

Amendment #4 Page 108 of 868 bade °M t n" Dilution caution is the amount by which Ire offering prose pad by the purchasers of cur Class A common stock sold in the offering will exceed the as adiusted net hinge* took value per share of our Class A carmen pock after the offering Net targde book value per share of our Class A common stock as of a parer:Jar dale represents the anon( of our total triode assets less our total Utilities divided by the niter of shares of Class A common stock outstanding as of stth date As of March 31. 2015. after prong effect to the Fomotion Transactions. our net tangible book value would have been approximately 5514 0 million, or $482 per share of Class A carmen stock assuming that our Sponsor exchanged al of Its Global LLC Class B knits for newly issued shares of our Cuss A common stock on a onefor-ore basis Purchasers of our Class A conynon stockiness offering will experience substarlel and immediate dilution in net tangible took value per share of our Class A common stook la !Menotti accounting purposes. as illustrated in the Mowing lade Assumed inlet public offering prce per share Net tangible book value per share as or March 31, 2015 alter giving effect to the Formation Transactions Increase in as acluseed net tangos book value per share altnbutade to purchasers in fns offering and the Class A Common Private Placement Net tangible book value per share after giving effect to the Organizational Transactons. including the offenre and the Class A Common Private Placement and the use of proceeds Therefrom Invnedele *lute) in net tango* book value per share to purchases in the ortenng and the Class A Cannon Private Placement $482 42 41 $20 00 723 $12 77 Because our Sponsor does not currerey own any Class A common stock we have presented dilution in net tang de book value per share of Class A common stock to rwestors in this offenng assuring that our Sponsor exaenged es Global LLC Class B amts for newly Issued shares of our Class A common stock on a one-for-one tine in order to more meaningfuly present the tilutWe impact on the puchasers ri this offering. If the ureerwrters encase then option to purChase addlonal shares of our Class A common stock in full, the net tangible book value per share after giving effect to this offering would be $7 23 per share due to the decrease in pass B common stock owned by our Sponsor and the equivalent increase in Class A common stock purchased by the underwriters Ths represents an increase in net tang,* book value of $4.82 per share to our existing stocleolder a-4 dilution in net targtre took value of 512.77 per share to purchasers n the cffenng 100 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058065 CONFIDENTIAL SDNY_GM_00204249 EFTA01366537