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Webcast Guidelines The audience is in listen-only mode. Please questions via the Q&A panel box. Select audience questions will be answered during the last five minutes of the program. WebEx customer support:

MODERATOR Richard Collings Senior Writer The Deal

Expert Panel Jeffrey A. Derman Managing Director Peter J. Solomon Company

Expert Panel Jane Goldstein Co-Head of Mergers & Acquisitions Group Ropes & Gray

Expert Panel Hadley Mullin Managing Director TSG Consumer Partners

Expert Panel David D. Tawil Co-Founder and Portfolio Manager Maglan Capital

Charts to come

Source: PwC analysis of Thomson Reuters data

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