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MODERATOR Matt Miller Editor at Large The Deal

EXPERT PANELIST Jay Jester Managing Director, Business Development Audax Group

EXPERT PANELIST John Sinnenberg Chairman Cyprium Investment Partners

EXPERT PANELIST Tom Schauerman Partner Norwest Equity Partners

Purchase Price and Equity Contribution of Middle Market LBO Loans (Defined as Issuers with EBITDA of $50 Million or Less) Total Sources/adjusted Pro Forma Trailing EBITDA Prior to 2003 Media, Telecom, Energy and Utility Deals, were excluded. Now all outliers, regardless of the industry, are excluded. *Equity component of Purchase Price Breakdown represents total equity (new + rollover). Equity Contribution includes only new equity. Purchase Price Breakdown* Equity Contribution* Source: S&P Capital IQ

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