28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation Key Operating Metrics {Figure 55. OAK Finn-wide Key Operating Metrics Forecasts iNCOMESI'ATEMENT 2012 1013 2013 3013 4013E 201 1014E 2014E 30144 4014 KEY METRICS Ease: Elf cave tax rx• On AN 150% 123% 101% 15% 9.0% 91% 100% 10.0% 10.0% 100% Beokva" pe unt $9243 $1016 $10439 $1027 $1039 510 36 51036 $1046 51055 $1068 Tangible bxkviaue ret unt 59.28 510.18 51069 510 27 51030 510.36 $10.93 5104 51055 51088 CasUbubon per unt 5284 51.41 51 51 $0 74 $091 $4.57 $093 50.95 5093 5097 DetrbutOn "Smut ratO 70" 787% 779% 816% 752% 802% 758% 743% 727% 71.7% Profitability: Economc net neon (6" per um 6575 $207 51 11 5102 5190 6.00 51 02 51.12 51 17 512'0 Ca9rOutat" Senn" (OD rat wit 53.02 51.79 51 94 5091 $121 6.70 51.23 5128 51.25 5135 Fee-retied "mops (FRE1 per unit 51.82 $034 5035 5033 5032 51 34 5036 5042 5048 SO" ESTOA 8169 346 5 362 0 1934 216.7 1.0606 217 7 2200 2160 2224 FÆ (9464e) 507 120 127 149 130 536 153 160 202 235 FÆ moppet (p4414x) 41 1% 349% 330% 322% 300% 325% 314% 335% 33.8% r" Econonc ncorro rrergn (pre") 508% 588% 535% 497% 495% 529% 480% 468% 47% 4.7% 13.44 coup WO 44 1% 508% 494% 51.5% 520% 509% 51.0% 500% 50.0% 51.011 hcenWe corro ntto 483% 398% 381% 402% 400% 393% 400% 40.0% 400% 400% Total corrp rate 302% 378% 198% 401% 407% 394% 44% 432% 412% 43" Balance Stint ECPAssets 2360 2.500 21378 2849 2678 2678 2.740 2.730 2.757 1785 IMP Tengbb Assets 2363 2.930 2678 2649 2678 2678 2.703 2,730 2757 2.785 ECPlong-terrn Debt 615 8» 592 9» 588 586 586 598 586 588 eggigenty (Pears 4 011/444 1394 1.532 1,014 1,552 1.562 1562 1550 1,567 1.560 1.572 EOP Tang bk. 5:44Y 1.394 1,532 1,1314 1,552 1,562 1.562 1.550 1,557 1.933 1,572 Casts per unt 1804