ILLUSTRATIVE COMPARISON OF JAWBONE OPTIONS
CRITERIA OPTION 1 - CITIC / JPM LED REFINANCING OPTION 2 - LIQUIDATION SALE
Value to Blackrock $50 million new rollover note, plus $25 million in cash, less fees, expenses and
$100 million rollover equity litigation costs, subject to contract and diligence
Value to Other Stakeholders Series 8 (JPM et al): 10% rollover Zero. Total loss
Series 9 (KIA): 7.9% rollover
Employees: new option pool for continuity
Posture to Other Stakeholders Friendly Hostile
Conditions to Complete JPM to provide working capital bridge - requiring High risk of business interruption / chapter 7
Transaction Blackrock's consent liquidation
Fitbit Litigation Financing Third party term sheet secured. Potential upside None. Unclear who bears expenses
from lawsuit with Fitbit
EFTA00583331