JANUARY 2016 ICR CONFERENCE

SAFE HARBOR
The slide presentation and the accompanying oral presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are made as of the date hereof and are based on current expectations, estimates, forecasts and projections as well
as the beliefs and assumptions of management. Our actual results could differ materially from those stated or implied in forward-looking statements. Readers of this
presentation should be aware of the speculative nature of forward looking statements. Forward-looking statements include statements concerning plans, objectives,
goals, strategies, expectations, intentions, projections, developments, future events, performance or products, underlying assumptions and other statements that
are not historical in nature, including those that include the words anticipate, estimate, plan, project, continuing, ongoing, target, aim expect, believe,
intend, may, will, should, could, or the negative of those words and other comparable words, are based on current expectations, estimates and projections
about, among other things, revenue, adjusted EBITDA, organic growth, aggregate and 2016 minimum revenue, benefits of net operating losses, margins, and the
industry and the markets in which Sequential and Martha Stewart (MSO) operates, and they are not guarantees of future performance. Whether actual results
will conform to expectations and predictions is subject to known and unknown risks and uncertainties, including risks and uncertainties discussed in the reports
that Sequential has filed with the Securities and Exchange Commission (the SEC); general economic, market, or business conditions; changes in Sequentials
competitive position or competitive actions by other companies; Sequentials ability to maintain strong relationships with its licensees; Sequentials ability to retain
key personnel; Sequentials ability to achieve and/or manage growth and to meet target metrics associated with such growth; Sequentials ability to successfully
attract new brands; Sequentials ability to identify suitable targets for acquisitions; Sequentials ability to obtain financing for the acquisitions on commercially
reasonable terms; Sequentials ability to integrate successfully the new acquisitions into its ongoing business; and the ability to achieve the anticipated results of
these and other potential acquisitions; Sequentials ability to comply with government regulations; changes in laws or regulations or policies of federal and state
regulators and agencies; and other circumstances beyond Sequentials control. Consequently, all of the forward-looking statements made in this presentation are
qualified by these cautionary statements, and there can be no assurance that the actual results anticipated will be realized or, if substantially realized, will have the
expected consequences on Sequentials business or operations. These and other risks are discussed in detail in the periodic reports that Sequential files with the
SEC. Except as required by applicable laws, Sequential does not intend to publish updates or revisions of any forward-looking statements it makes to reflect new
information, future events or otherwise. Readers should understand that it is not possible to predict or identify all risks and uncertainties to which Sequential may be
subject. Consequently, readers should not consider such disclosures to be a complete discussion of all potential risks or uncertainties. This slide presentation includes
certain financial projections, which are also forward-looking statements, relating to Sequential and potential acquisitions. The projections are based on a number of
assumptions, some of which are set forth in the footnotes and on slide 38. Although the Company believes the assumptions underlying such projections are reasonable,
the reasonableness of these assumptions has not been independently passed upon. There can be no assurance that the projections will be realized and the projections
may prove incorrect, including, without limitation, as relates to the anticipated aggregate guaranteed minimum royalties expected, retail revenues, total revenues and
adjusted EBITDA. Nothing contained in the projections is, or should be relied upon, as a promise or representation as to the future results or prospects of Sequential.
This presentation contains certain non-GAAP financial measures. The Company believes the use of non-GAAP measures in addition to GAAP measures is an additional
useful method of evaluating its results of operations. The non-GAAP financial measures disclosed should not be considered a substitute for, or superior to, financial
measures calculated in accordance with GAAP, and the expected results calculated in accordance with GAAP and reconciliations to those expected results should be
carefully evaluated. The non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled
measures used by other companies. This presentation contains trade names, trademarks and service marks of other companies. We do not intend our use or display of
other parties trade names, trademarks and service marks to imply a relationship with, or endorsement or sponsorship of, these other parties.

SEQUENTIAL BRANDS GROUP

We are building a world-class

brand management organization
with our portfolio of established
consumer brands and the leading
growth activation team in the industry

THE PLATFORM

OUR BRAND VERTICALS

~$4 BILLION IN ANNUAL GLOBAL RETAIL SALES
FASHION

ACTIVE

LIFESTYLE

&

GROWING
HOME

FINANCIAL REVIEW

2015 P

2016
PRO FORMA

2012

2013

2014

Revenue

$5.3M

$22.7M

$41.8M

$85.0 - $87.0M $150.0 - $155.0M

Adjusted EBITDA

$0.0

$12.3M

$24.0M

$51.0 - $53.0M

$92.5 - $95.0M

Organic Growth

N/A

N/A

8%

10%

HSD

POST MSLO INTEGRATION

NOTES:
For a definition of Adj. EBITDA, see page 38.
HSD: High Single Digit Growth

STRONG AND NIMBLE PLATFORM

Own and Control Intellectual Property
Diversified Revenue Base
Solid Foundation with Predictable Guaranteed Minimum Revenue (GMRs)
$100M in GMRs in 2016

Insulated from Typical Brick & Mortar Challenges, including:

Inventory Risk
Fluctuations in Weather
Specific Same Store Sales Comps
Retail Lease Liabilities

High-Margin Growth Drivers, including:

Digital & E-Commerce Growth
Mobile Growth
International Growth

MINIMAL CASH TAXES IN FORESEEABLE FUTURE

NOLs and tax deduction related to the amortization of intangibles expected
to offset up to $466M (in aggregate) of future taxable income
Drives to potential $163M aggregate cash benefit

Total
$113.8M
$22. 4M
$329. 4M
$465.6M
35%
$163.0M

MSO NOLs
SQBG NOLs2
SQBG Amortization of Intangibles2
Total Tax Deductions
Statutory Tax Rate
Potential Cash Benefit to SQBG
1

NOTES:
(1) Estimated usable NOLs based on 12/31/14 financials.
(2) Estimated usable NOLs and amortization of intangibles based on 9/30/15 financials.

3 YEAR PLAN

3 YEAR PLAN
PREVIOUS NEW
3 YEAR PLAN

ACHIEVED DECEMBER 2 0 1 5

$3.5 BILLION retail sales

$100M total revenue
$70M adj. ebitda

3 YEAR PLAN
PUBLISHED NOVEMBER 2 0 1 5

$8.0 BILLION retail sales

$250M total revenue
$175M adj. ebitda

ASSUMPTIONS:
High Single Digit Organic Growth
2-3 New Brand Acquisitions Each Year
Acquire Brands Through Combination of Cash + Debt + Equity, weighted mostly toward Cash/Debt
Each Brand Acquired at Adj. EBITDA Multiples Consistent with Historical Track Record
Each Brand Acquired Operates at ~75% Stand Alone Adj. EBITDA Margin
NOTES: For a definition of Adj. EBITDA, see slide 38. For illustrative purposes only, the above is not intended to suggest guidance. See safe harbor statement
regarding projections and risks.

11

LONG-TERM FINANCIALS

2015 P
Revenue

POST MSLO INTEGRATION

$85.0 - $87.0M $150.0 - $155.0M

Adjusted EBITDA $51.0 - $53.0M

Organic Growth

2016
PRO FORMA

3 YEAR
PLAN

$250.0M

$92.5 - $95.0M

$175.0M

HSD

HSD

10%

NOTES:
For a definition of Adj. EBITDA, see page 38.
HSD: High Single Digit Growth

12

VALUE CREATION
CHAPTER 1: ORGANIC GROWTH

ORGANIC GROWTH PLAYBOOK

Strong Retail Relationships

Managing like a wholesaler/merchant
Broadening Distribution
Driving Category Growth
Initiating Digital Growth
Expanding International Growth

14

PLAYBOOK AT WORK | ORGANIC GROWTH

TOTAL COMPANY
YEAR OVER YEAR PERFORMANCE

10%
10.0%

HSD
5.0%

0.0%

ORIGINAL
COMPANY
GOAL
2015
NOTES:
HSD: High Single Digit Growth

REVISED
COMPANY
GOAL
2015P
15

PLAYBOOK AT WORK |

+
YEAR OVER YEAR
ORGANIC GROWTH

15.0%

TOTAL COMPANY
YEAR OVER YEAR PERFORMANCE

14%

15%

10%
10.0%

HSD
5.0%

0.0%

ORIGINAL
COMPANY
GOAL
2015

REVISED
COMPANY
GOAL
2015P
NOTES:
HSD: High Single Digit Growth

YTD PERFORMANCE
of
+
THROUGH Q3
2015

PROJECTED
for
+
2015P

16

each pair

each

Mens AND1 Playmaker

t
4J[FT
o

Take to the Sky.

AND1
Cargo Fleece Pants
t
4J[FT
4o9Sizes XX, .

each pair

Boys AND1 Mythos

t
4J[FT
o

each pack

Mens AND1
Performance Socks
3 Pack
t

"WBJMBCMF
JO
DSFX
BOLMF

MPX
DVU
PS
OP
TIPX

each

AND1 PolyTech
Fleece Pullover
t
4J[FT
4o9-

each pair

Mens AND1 Mythos

t
4J[FT
o

Sizes XX, .

ROLLBACK

Was .

Ladies
AVIA Hype
t
4J[FT
o

15

each pair

Ladies AVIA Taylor

t
4J[FT
o
$IFDL
PVU
UIF
WJEFP
BU

XBMNBSUDPN)PMJEBZ(JGUT

each pair

Mens AVIA Horizon

t
4J[FT
o

each pair

Mens AVIA Peter

t
4J[FT
o

Hit the Ground Running.

9

WALMART 2013 HOLIDAY INSERT

DISTRIBUTION: 40 MILLION

17

LEVERAGING THE PLATFORM

CHAPTER 2: ACQUISITION GROWTH

TRANSACTION SUMMARY

$67M PURCHASE PRICE

~$250M GLOBAL RETAIL SALES
90% GMR COVERAGE ON PURCHASE PRICE
NEW LONG-TERM LICENSE WITH
LI & FUNG /GLOBAL BRANDS GROUP

riding jacket in shaye O82SSY7040 // bambina tank in heather army G151547SRJ // japanse denim the vixen bootcut in kai K6SKA25841

19

ACTIVATING PLAN TO ACHIEVE

10% ORGANIC GROWTH

1. CORE DENIM & SPORTSWEAR GROWTH

2. DIGITAL EXPANSION
3. CATEGORY EXPANSION
*
-

handbags & small leather goods

eyewear
watches
jewelry
tailored clothing

4. INTERNATIONAL GROWTH

* New Deal signed Dec 15 with Showroom35

hawk blazer in navy G154086WDF // leigh shirt in medium wash G151549JDN // fahrenheit the icon skinny in noemi AMANME5252

20
5

IMMEDIATE MARGIN GROWTH

100.0%

AL NT
N
TIO EME
A
M OV
R
FO MPR
on m
i
S
I
s
r for
AN IN
e
R
v
T RG
n lat
o
c GP
MA
n
o B
up SQ
to

80.0%

60.0%

40.0%

20.0%

0.0%

-20.0%

Post SQBG

Pre SQBG
21

22

BREAKING DOWN THE MSO ACQUISITION

PURCHASE PRICE
MSO Sharecount

57.5M

MSO Buyout Price per Share

$6.15

MSO Gross Consideration

$353.6M

MSO Cash and Short-Term Investments at 9/30/15

($41.8M)

MSO Cash Equivalent of NOLs1

($39.9M)

NET PURCHASE PRICE

NOTE: Net PP excludes restructuring and deal costs.

(1) Estimated usable NOLs based on 12/31/14 financials.

$271.9M

23

MSLO ACQUISITION GOAL

g r o w t h e n e w ly c r e at e d

HOME VERTICAL to 2 BILLION

in annual retail sales and over

75 MILLION in annual revenue

24

RESTRUCTURED MEREDITH PARTNERSHIP

New 10-Year Deal
Restructured pre-existing agreement into license
Meredith assumes full editorial + operational responsibility
The result:
Full integration with one of the leading media companies in the world
Titles positioned for immediate profitability and long term growth

26

MARTHA STEWART COLLECTION AT

CELEBRATE MARTHA ALL WEEK

#MACYSANDMARTHA

#MACYSANDMARTHA
Get set for Thanksgiving, buffet style. Whether youre hosting two
or twenty, check the Macys & Martha Pinterest board for ideas

#MACYSANDMARTHA

and inspiration on setting up an irresistible spread. Also, be sure to

watch Marthas video on entertaining at macys.com/marthastewart

WED, DEC. 2 THROUGH THURS, DEC. 10

2O%-5O% OFF

A new way to get rewards at

Macys and lots of other places!

Join for free

Start earning points!

Details at macys.com/plenti

For recipes, log on to

macys.co/martha

3O%-5O% OFF

PLUS, TAKE AN EXTRA 25% OFF WITH

YOUR FRIENDS AND FAMILY SAVINGS PASS

Complete the look

with serving pieces
and accessories.
For more options
and recipes go to
macys.com/martha

Fall-themed
serving pieces
add a touch of
whimsy to your
holiday table

Exclusions apply; see back cover. Regular-priced items also shown.

WED, SEPT. 16-SUN, SEPT. 20

Boxed catering sets give

you exactly the right
amount of flatware

MARTHA STEWART COLLECTION

Only at Macys. Everyday Entertaining 6-pc. buffet sets: dinner, lunch or dessert plates; pasta bowls, knives, forks or spoons. $15-$29.
Everyday Entertaining 2-pc. serveware sets: oval platters or serving bowls. $43. 1732010. Whiteware dinnerware & serveware including pumpkin
soup tureen and individual bowls. $9-$92. 722567. Leaf serveware: platter, appetizer plates and 4-pc. salt cellar set. $22-$43. 2228886.

PLUS, TAKE AN EXTRA

2O% OFF WITH YOUR
SAVINGS PASS

Advertised merchandise may not be carried at your local Macys and selection may vary by store. 52090016

87516_m5090016_MSL_R2.indd All Pages

MARTHA STEWART LIVING MAGAZINE

Job #: 87516_M52090016

TRIM: 18 x 10.875 (9 x 10.875)

BLEED: 18.25 x 11.125 (9.25 x 11.125)
Art Dir: Laura (x:1560)
Writer: tom g. (x:5013)
Coord: Olivia (x:5240)

Exclusions apply; see pass. Regular-priced

items also shown.

(Nov 2015) Spread (Left)

Month Week: Oct Wk2

SAFETY/LIVE AREA: 17.5 x 10.375 (8.5 x 10.375)

Production: diana 5635

MARTHA STEWART LIVING MAG

Job #: 87516_M52090016

TRIM: 18 x 10.875 (9 x 10.875)

BLEED: 18.25 x 11.125 (9.25 x 11.125)
Art Dir: Laura (x:1560)
Writer: tom g. (x:5013)
Coord: Olivia (x:5240)

8/25/15 4:18 PM

(Nov 2015) Spread (Right)

Month Week: Oct Wk2

SAFETY/LIVE AREA: 17.5 x 10.375 (8.5 x 10.375)

Production: diana 5635

4
4

#MACYSANDMARTHA

For details
on items
shown, see
pages 2-3.

Even the best gift givers need

a little help. For more of Marthas
great gift ideas and festive holiday
Flannel sheets
made for snuggling

tips, visit the Macys & Martha

Pinterest board.

A new way to get rewards at

Macys and lots of other places!

Join for free

Start earning points!

Details at macys.com/plenti

For details on items shown, see page 3.

A cozy comforter cover

as warm as a hug
The more decorative
pillows, the better!
Dont forget to use
festive holiday
serveware for
milk & cookies

.
MARTHA STEWART COLLECTION
Only at Macys. Woodland Animals set of 4 mugs. $12. H 2371943. Woodland Animals set of 4 cereal bowls. $12. H 2371944.
Decorative pillows. $80 ea. H 2352956. Throw. $120. H 2327105. Flannel sheet set. Cotton. Twin- California king. $40-$200. H 2232589.

Visit macys.com/martha Advertised merchandise may not be carried at your local Macys and selection may vary by store. 5100024.

87475_101.indd All Pages

9/11/15 12:24 PM

83749_101.indd 1

9/11/15 12:13 PM

27

MARTHA STEWART LIVING AT

HomeDecorators.com

DISCOVER OUR EXCLUSIVE

MARTHA STEWART LIVING
CRAFT FURNITURE.
Get organized and inspired in your own work space!
Shop online @ HomeDecorators.com/MarthaStewart.

Marthas favorite
features include:
Cubbies, spindles, and spools
specially designed for craft supplies
Drawers in every size to
keep materials organized

Corner desks and fold-away tables,

perfect for small spaces

Available in five finishes:

View more collection options online @

HomeDecorators.com/MarthaStewart

DISCOVER OUR EXCLUSIVE

MARTHA STEWART LIVING CRAFT FURNITURE.
Give the gift of creativity to crafters of all ages! Shop online @ HomeDecorators.com/MarthaStewart.

Make room
for your childs
imagination with
craft furniture sized
just for them thats
as cute as it
is practical.

HomeDecorators.com

Marthas favorite
features include:
Cubbies, spindles, and spools
specially designed for craft supplies
Drawers in every size to
keep materials organized
Corner desks and fold-away tables,
perfect for small spaces
Available in five finishes:

View more collection options online @

HomeDecorators.com/MarthaStewart

28

MARTHA STEWART PETS AT

W ICKED CU TE
C ELEB R ATE WITH YO U R B E ST FRI EN DS

Tis the season for warm apparel, cozy beds,

cute toys, and more from Martha Stewart Pets!

Look for fun costumes and accessories for Halloween from Martha Stewart Pets, only at
PetSmart! Find more products online at petsmart.com/marthastewart.

PETSMART.COM/MARTHASTEWART

INTRODUCING
holiday products specially designed for small dogs
with big personalities! Find XS to XXXS sizes only
at PetSmart and petsmart.com/marthastewart.

Display through 1/3/2016

15-HARDG-1085

Display through 11/1/2015

All dogs shown are the lovingly adopted pets of Martha Stewart Living Omnimedia employees and friends!

15-HARDG-0816

Display through 1/3/2016

15-HARDG-1085

29

MARTHA STEWART CRAFTS AT

A DV E RT ISE ME N T

Martha Stewart Crafts and the Martha Stewart Circle Logo are trademarks of Martha Stewart Living Omnimedia, Inc. Copyright 2015 Martha Stewart Living Omnimedia, Inc. All rights reserved.

fringe benefits!
Find the Martha Stewart Crafts Fringe Cutter online
at michaels.com/marthastewart and joann.com.

/MD

30

MARTHA STEWART HOME OFFICE AT

organize it. personalize it. work it.

31

MARTHA STEWART - NEW BUSINESS OPPORTUNITIES

Food
Grocery/Clubs
Fresh Delivery Service

International Expansion
Cafs/Coffee Shops
Digital/E-Commerce

32

33

EMERIL LAGASSE BRAND GROWTH

QVC Business Expansion
Brick and Mortar growth opportunities
within department store, specialty,
and grocery channels

34

CONCLUSION

35

THE FOUNDATION FOR SEQUENTIALS GROWTH

PORTFOLIO of
STRONG,
SCALABLE BRANDS

MANAGING like a
WHOLESALER, without the
WHOLESALE RISK

TRACK RECORD
FOR DELIVERING

ORGANIC

SUPPORTIVE
STAKEHOLDERS

GROWTH

A WINNING PLATFORM
with a FOCUSED STRATEGY

36

APPENDIX

37

NON-GAAP RECONCILIATION TABLE

For the year ending December 31

2012

2013

2014

$ (9,125)

$ (17,974)

$ (1,068)

2015 Projected High 2015 Projected Low

2016
Pro Forma High

2016
Pro Forma Low

$ 24,765

$ 23, 465

(Unaudited)
GAAP net (loss) income

$ (726)

$ (2,726)

Adjustments:
Taxes (e)

27

1,849

2,936

1,000

1,000

13,335

12,635

Interest expense, net

829

15,589

9,746

28,300

28,300

44,300

44,300

Non-cash compensation

674

1,118

2,184

8,276

8,276

9,000

8,500

Depreciation and amortization

296

598

1,107

1,850

1,850

3,600

3,600

Restructuring charges

2,854

Discontinued operations

1,780

6,244

Deal costs (a)

2,669

4,856

7,689

14,000

14,000

Brand Matter LLC purchase price adjustment (b)

550

Write-off of JCP fixturing (c)

900

Gain on sale of Peoples Liberation brand (d)

(700)

(700)

1,000

1,000

Restructuring / Discontinued Operations (f)

Adjusted EBITDA (1)

9,129

30,254

25,112

53,726

53,726

70,235

69,035

$4

$12,280

$ 24,044

$ 53,000

$51,000

$ 95,000

$92,500

(1) Adjusted EBITDA is defined as net (loss) income, excluding interest income or expense, taxes, depreciation and amortization, restructuring charges, discontinued operations and
excluding deal costs, non-cash compensation, gain on sale of Peoples Liberation brand, write-off of JCP fixturing and Brand Matter LLC purchase price adjustment. Management uses
Adjusted EBITDA as a measure of operating performance to assist in comparing performance from period to period on a consistent basis and to identify business trends relating to the
Companys financial condition and results of operations. The Company believes Adjusted EBITDA provides additional information for determining its ability to meet future debt service
requirements and capital expenditures.
(a) Represents deal and other one-time costs related to the Companys acquisition transactions primarily related to legal, advisory and accounting services that are not representative of
the Companys day-to-day licensing business.
(b) Represents the settlement and legal costs related to a pre-acquisition litigation matter in which Brand Matter LLC was named as an affiliate.
(c) Represents the write-off of JC Penney fixtures for the William Rast business that terminated June 30, 2014 and relaunched exclusively with Lord & Taylor in Fall 2014.
(d) Represents the gain on sale of the Peoples Liberation brand in Q1 2015.
(e) Taxes for the purposes of this schedule represent the greater of $1 million or 35% of pre-tax GAAP income.
(f) Represents costs related to restructuring charges and discontinued operations of Martha Stewart Living Omnimedia.

38

No Offer or Solicitation
The information in this communication is for informational purposes only and is neither an offer to purchase, nor a solicitation of an offer to sell, subscribe for or
buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transactions or otherwise, nor shall
there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of
a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Additional Information and Where To Find It
The proposed transaction involving Sequential Brands Group, Inc. (Sequential) and Martha Stewart Living Omnimedia, Inc. (MSO) will be submitted to the
stockholders of MSO for their consideration. In connection with the proposed transaction, Sequential and MSO have caused Singer Madeline Holdings, Inc.
(New Sequential) to file with the Securities and Exchange Commission (the SEC) a registration statement on Form S-4 (the Registration Statement) (File
No. 333-205940), which included a prospectus with respect to the New Sequential shares to be issued in the proposed transaction, a proxy statement for the
stockholders of MSO and an information statement for the stockholders of Sequential (the Combined Statement). The definitive Registration Statement and the
Combined Statement contain important information about the proposed transaction and related matters. SECURITY HOLDERS ARE URGED AND ADVISED
TO READ THE REGISTRATION STATEMENT AND THE COMBINED STATEMENT CAREFULLY, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED
WITH THE SEC AND ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT
INFORMATION. The Registration Statement, the Combined Statement and other relevant materials (as they become available) and any other documents filed
or furnished by MSO, Sequential or New Sequential with the SEC may be obtained free of charge at the SECs website at www.sec.gov. In addition, security
holders may obtain free copies of the Registration Statement and the Combined Statement from Sequential by going to its investor relations page on its corporate
website at ir.sequentialbrandsgroup.com and from MSO on its investor relations page on its corporate website at www.marthastewart.com/ir.
Participants in the Solicitation
MLSO, Sequential, their respective directors and certain of their executive officers and employees may be deemed to be participants in the solicitation of proxies
in connection with the proposed transaction. Information about Sequentials directors and executive officers is set forth in its definitive proxy statement for its
2015 Annual Meeting of Stockholders, which was filed with the SEC on April 16, 2015, and information about MSLOs directors and executive officers is set forth
in its amendment to its Annual Report on Form 10-K/A for the calendar year ended December 31, 2014, which was filed with the SEC on April 27, 2015. These
documents are available free of charge from the sources indicated above, from Sequential by going to its investor relations page on its corporate website at
ir.sequentialbrandsgroup.com and from MSLO on its investor relations page on its corporate website at www.marthastewart.com/ir.
Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed transaction will be included in the
Registration Statement, the Combined Statement and other relevant materials Sequential, MLSO and TopCo intend to file with the SEC.

39

JANUARY 2016 ICR CONFERENCE