EFTA Document EFTA01374919

SRLI2102 Alpha Group Capital Polycom: Results Post-Close 2016 ell. 2017 Close Acquisition Compensation Plans Implemented Strategy & Business Development • Began implementing new "Ecosystem Focused" strategy to grow with evolving Unified Communications market • Executed Microsoft partnership agreement providing for $31 million of engineering support and deeper Go-to-Market Cost Savings/ EBITDA - Capex Growth • 2016 PF EBITDA - Capex of $183 mm up from $161mm in 2015A • Achieved $70 mm of run-rate cost savings in first 4 months of ownership versus target of $90 mm over two years Repriced Debt • Repriced 1•L hen debt resulting in 125bps or $11 million savings per year Cost Savings/ EBITDA - Capex Growth • 2017 PF EBITDA - Capex of $204 mm • Achieved $15 mm of run-rate cost savings, and identified incremental $30mm of savings for execution in 2018 it 2 Sold • Plantronics acquired Polycom in a combination of cash and stock for $2 bn, or 8.9x 2017 EBITDA of $225 mm • Sims CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL cross Unrealized Returns (Soon) Total Gross MOIC $385 $1,251 Fund 2.0x + Co-Invest 1.9x Fund only:1.9x i $169 $866 $216 $559 1.0x $390 G R $692 O S $476 Sep-2016 S 0.0x Acquisition M Realized Unrealized Total O ($359) Value Value Value I C ($300) (Mx) ($659) .. Co-Investor Share • Fund Share Nose: l')C0fiaft informationprovided hannla darad below) relating toot had m part on the parfait/wan, of Polycomn pro faun inforrnanon bad on tbie terms of the sack of the company to Plantromcs. lm. (WISE: PIS). Polyrom entered use • sale arenant with Planar. Inc. that cicwd on July 2 2018. pursuant to 'shah the •gread upon venation tOttirdetali0f1COMISK of appresrmatety 11.04 billiOn N cash and 0.352 million shams of Plentronsca commonnoel The sate agreement prouder kr520 mdlenn oft cash consideration and St DO millionenvalue of the Platonic. canton stock to be held in arose. Foe purpososoicandating the maned as univatund return as of lune V. :VI.% ell of th: cash corsideretat ircludrng cash held m escrow Met of a valuation dncoura), dcombed above is treated a nhdadaal and dinnbuted, and the sat consideration darted above it wad a unmaluird. Faaouvd amounts am not expactod to be rekand in full and actual mums to Sint ill and CO Ift% nuns could be higher' or Iota than Mown heri.m. the atua Nalaed Mutil d such unreahaed inwalmerd• may differ materially horntit> Mula trait tied herein Please see "Appendix-I oranges' foe addit rand remaking/asand &quotient. Pet performance is not nectarally indisetise 24 a future results. DB-SDNY-0069867 SDNY_GM_002 16051 EFTA01374919