Robey warshaw llp asset management arm

SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Page 1 of 9

Merger/Acquisition Currency: Reported Currency Deal Summary Status Closed Primary Transaction Feature Acquisition of Equity Stake Announced Date Jul-18-2016 Bid Made Date - Letter of Intent Date - Effective Date - Definitive Agreement Date Jul-18-2016 Closed Date Sep-05-2016 CIQ Transaction ID IQTR375753587 Cancelled Date -

Sell-side Participants Company Name: ARM Holdings PLC Primary Industry: Semiconductors Headquarters: United Kingdom

Buy-side Participants Buyer Company: SoftBank Group Corp. (TSE:9984) Deal Values Total Consideration to Shareholders (£ mm)

23,578.30 Total Transaction Size (£ mm) 23,671.57

Implied Equity Value (£ mm) 23,924.78 Implied Enterprise Value (£ mm) 23,218.75 Implied Enterprise Value/LTM Revenue

22.0x Implied Enterprise Value/NTM Revenue

19.4x

Implied Enterprise Value/LTM EBITDA

50.3x Implied Enterprise Value/NTM EBITDA

36.1x

Implied Enterprise Value/LTM EBIT

55.4x Implied Enterprise Value/NTM EBIT

38.8x

Implied Equity Value/LTM Net Income

66.6x Offer Price/NTM Earnings 46.0x

Implied Equity Value/Book Value 11.9x Offer Price/Forward Book Value 11.1x

Synopsis Comments SoftBank Group Corp. (TSE:9984) agreed to acquire ARM Holdings plc (LSE:ARM) from Baillie Gifford & Co., BlackRock Institutional Trust Company, N.A., Thornburg Investment Management, Inc. and other shareholders for £23.5 billion in cash on July 18, 2016. SoftBank will acquire all the shares and options of ARM Holdings for £17 per share. The cash consideration payable by SoftBank to ARM Shareholders will be funded from existing cash resources and third party debt. SoftBank has entered into a term loan facility dated for a principal amount of £7.3 billion with SoftBank Corp. as guarantor and Mizuho Bank, Ltd. as lender in connection with the financing of the cash consideration payable to ARM shareholders. Balance amount will be funded from SoftBank’s existing cash resources. Mizuho Bank, Sumitomo Mitsui Banking Corp and Bank of Tokyo-Mitsubishi UFJ will provide a syndicated loan worth ¥1 trillion (£7.23 billion) to SoftBank to fund the deal. Following the acquisition, SoftBank intends that ARM Holdings will continue to operate as a separate business group within SoftBank keeping its headquarters in Cambridge. The employee count is expected to be double after the deal.sub

The deal is subject to court approval, approval of offer by Board of SoftBank and ARM and approval of offer by ARM shareholders. The acquisition is not subject to any anti-trust or regulatory conditions to closing. The acquisition is subject to scheme becoming unconditional. The court meeting and general meeting of shareholders of ARM Holdings is expected to be held on August 30, 2016. The deal obtained unanimous approval by Board of ARM Holdings. The Board of Directors who holds 1.98 million shares of ARM recommends that ARM shareholders vote for the transaction. As of August 3, 2016, the transaction has been unanimously recommended by the Board of ARM. As on August 30, 2016, the transaction has been approved by shareholders of ARM Holdings. As of August 31, 2016, the transaction is approved by the Court. The deal is expected to close in the third quarter of 2016. The deal is expected to be completed on November 17, 2016. The acquisition is expected to be accretive to SoftBank’s cash earnings per share in the first 12 months of ownership.

Jeffrey Sine and Jason Schretter of The Raine Group, Simon Robey, Simon Warshaw and Philip Apostolides of Robey Warshaw LLP and Hiroshi Saito and Kentaro Matsui of Mizuho Securities Co., Ltd. acted as financial advisors to Softbank. Ken Siegel, Graeme Sloan, Vlad Maly, Andrew Boyd, Gary Brown, Trevor James, Phil Slater, Ivan Smallwood, Noah Carr Leo Aguilar, James Robinson, Dale Caldwell. Antitrust, Jeff Jaeckel, Rony Gerrits, Tom McQuail, Jessie Liu, Kevin Roberts and Andreas Gruenwald of Morrison & Foerster LLP and Ben Spiers and Stephen Hewes of Freshfields Bruckhaus Deringer LLP served as legal advisors to Softbank. Anthony Gutman, Tammy Kiely, Nicholas van den Arend and Nick Harper of Goldman Sachs International and William Rucker, Cyrus Kapadia and Michael Murray of Lazard & Co., Limited and Jonathan Rowley, David Roberts and Sandip Dhillon of UBS acted as financial advisor to ARM. Phil Shelley of Barclays acted as broker and Sarah West, Jonathan Glass and Richard Jacques of Brunswick acted as public relations advisor to ARM Holdings. Steve Cooke, Chris McGaffin and Jordan Ellison of Slaughter and May and Tom Reid, Reuven Young, John Reynolds and Arthur Burke of Davis Polk & Wardwell LLP acted as legal advisors to ARM. Jun Usami, Philip Broke,

SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 2 of 9

Jacqui Evans, Holt Goddard and Seiji Matsuzoe of White & Case acted as legal advisors for Mizuho Securities. Simon Jay and Matthew Hamilton-Foyn of Cleary Gottlieb Steen & Hamilton acted as legal advisors for Raine Group. DLA Piper and Mayer Brown acted as legal advisors to ARM. Paul Kranhold and Jim Barron at Sard Verbinnen & Co. acted as PR advisor to SoftBank. Slaughter and May and Davis Polk & Wardwell will receive £9 million as advisory fees, while Freshfields Bruckhaus Deringer and Morrison Foerster will receive £5.5 million as advisory fees. The law firms, banks and PR companies involved in the deal will get around £200 million in fees in total. ARM is paying £51.2 million to its bankers, led by Goldman Sachs and Lazard with UBS and Barclays. SoftBank will pay up to £110 million in fees to Mizuho. SoftBank is paying £5.5 million to its legal advisers, the City firm Freshfields and Morrison Foerster. Slaughter and May and New York's Davis Polk & Wardwell will share £9 million in fees from ARM. Barclays Bank PLC acted as the financial advisor for ARM Holdings. The Bank of New York Mellon, Inc. acted as the depositary agent for ARM Holdings. James Palmer, Malcolm Lombers, Andrew Lidbetter, Rich Woods, Christine Iacono, Jenny Andrews, Sophie Dearsley and Christine Young of Herbert Smith Freehills acted as legal advisors for the takeover panel of SoftBank Group.

Deal Resolution SoftBank Group Corp. (TSE:9984) completed the acquisition of ARM Holdings plc (LSE:ARM) from Baillie Gifford & Co., BlackRock Institutional Trust Company, N.A., Thornburg Investment Management, Inc. and other shareholders on September 5, 2016.

Advisors Advisor Name Client Name Role Fee(£) Fee Percentage (%) The Bank of New York Mellon

ARM Holdings PLC Depository Bank - -

Barclays Bank PLC ARM Holdings PLC Financial Advisor - - Goldman Sachs International

ARM Holdings PLC Financial Advisor - -

Lazard & Co., Limited ARM Holdings PLC Financial Advisor - - UBS Limited ARM Holdings PLC Financial Advisor - - Davis Polk & Wardwell London LLP

ARM Holdings PLC Legal Advisor - -

DLA Piper UK LLP ARM Holdings PLC Legal Advisor - - Mayer Brown LLP ARM Holdings PLC Legal Advisor - - Slaughter and May ARM Holdings PLC Legal Advisor - - Mizuho Securities Co., Ltd. SoftBank Group Corp.

(TSE:9984) Financial Advisor 110,000,000.00 -

Robey Warshaw LLP SoftBank Group Corp. (TSE:9984)

Financial Advisor - -

The Raine Group LLC SoftBank Group Corp. (TSE:9984)

Financial Advisor - -

Freshfields Bruckhaus Deringer LLP

SoftBank Group Corp. (TSE:9984)

Legal Advisor - -

Herbert Smith Freehills LLP SoftBank Group Corp. (TSE:9984)

Legal Advisor - -

Morrison & Foerster LLP (Japan)

SoftBank Group Corp. (TSE:9984)

Legal Advisor - -

Transaction Details Features Cross-Border, Minority Shareholder Increasing Ownership Stake, Minority Shareholder Purchasing Remaining Shares, Cash Merger Deal Conditions Approval of Merger Agreement by Target Board;Approval of Offer by Acquirer Board;Approval of Offer by Target Shareholders;Subject to Antitrust Regulations;Subject to Court Approval Response to Conditions Approval by Target's Shareholders Change of Control Yes Deal Approach Unsolicited Minority/Majority Stake Majority Deal Attitude Friendly

SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 3 of 9

Accounting Method Acquisition Special Committee - Sell-side Termination Fee (£ mm) - Sell-side Termination Fee (%) - Buy-side Termination Fee (£ mm)

- Buy-side Termination Fee (%) -

Consideration Summary Consideration Type Cash

Offered Date Jul-18-2016

Current/Final Date Sep-05-2016

Exchange Rate 1.000 Exchange Rate 1.000 Consideration to Shareholders (£ mm)

23,578.30 Consideration to Shareholders (£ mm)

23,578.30

Offer Per Share (£ ) 17.00 Offer Per Share (£ ) 17.00 Total Cash (£ mm) 23,578.30 Total Cash (£ mm) 23,578.30 Total Stock (£ mm) - Total Stock (£ mm) - Total Preferred (£ mm) - Total Preferred (£ mm) - Total Debt (£ mm) - Total Debt (£ mm) - Total Hybrid (£ mm) - Total Hybrid (£ mm) - Total Rights/Warrants/Options (£ mm)

- Total Rights/Warrants/Options (£ mm)

-

Transaction Financing

Equity Investment (£ mm) 16,278.30 SubDebt/Mezzanine (£ mm) - Senior Debt (£ mm) 7.23

Transaction Values

Offered Exchange Rate 1.000 Consideration to Shareholders (£ mm)

23,578.30

Other Consideration (£ mm) - Total Earnouts (£ mm) - Total Rights/Warrants/Options (£ mm)

21.57

Net Assumed Liabilities (£ mm) (727.6) Adjustment Size (£ mm) - Total Net Transaction Value (£ mm)

22,872.27

Total Cash & Short Term Investments (£ mm)

799.30

Total Gross Transaction Value (£ mm)

23,671.57

% Sought 98.6% Implied Enterprise Value (£ mm) 23,218.75 Implied Equity Value (£ mm) 23,924.78

Current/Final Exchange Rate 1.000 Consideration to Shareholders (£ mm)

23,578.30

Other Consideration (£ mm) - Total Earnouts (£ mm) - Total Rights/Warrants/Options (£ mm)

21.57

Net Assumed Liabilities (£ mm) (727.6) Adjustment Size (£ mm) - Total Net Transaction Value (£ mm)

22,872.27

Total Cash & Short Term Investments (£ mm)

799.30

Total Gross Transaction Value (£ mm)

23,671.57

% Sought/Acquired 98.6% Implied Enterprise Value (£ mm) 23,218.75 Implied Equity Value (£ mm) 23,924.78

SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 4 of 9

Enterprise Value Multiples, Offered Implied Enterprise Value/LTM Total Revenues

22.0x

Implied Enterprise Value/LTM EBITDA

50.3x

Implied Enterprise Value/LTM EBIT

55.4x

Enterprise Value Multiples, Current/Final Implied Enterprise Value/LTM Total Revenues

22.0x

Implied Enterprise Value/LTM EBITDA

50.3x

Implied Enterprise Value/LTM EBIT

55.4x

Equity Value Multiples, Offered Implied Equity Value/LTM Net Income

66.6x

Implied Equity Value/Book Value 11.9x

Equity Value Multiples, Current/Final Implied Equity Value/LTM Net Income

66.6x

Implied Equity Value/Book Value 11.9x

Target Stock Information 1 Day Before Announcement

Date Jul-15-2016 Share Price (£ ) 11.89 Market Capitalization (£ mm) 16,733.28 LTM Total Stock Return (%) 16.80% 52 Week High (£ ) 13.32 52 Week High (%) 89.23% 52 Week Low (£ ) 8.12 52 Week Low (%) 146.52%

Buyer Stock Information 1 Day Before Announcement

Date Jul-15-2016 Share Price (£ ) 42.55 Market Capitalization (£ mm) 48,181.26 LTM Total Stock Return (%) (15.05)% 52 Week High (£ ) 55.25 52 Week High (%) 77.01% 52 Week Low (£ ) 29.28 52 Week Low (%) 145.34%

Premium Analysis

Target Premiums Price per share (£ ) Premium One Day Prior 11.89 43.0% One Week Prior 11.89 43.0% One Month Prior 9.70 75.2%

Related Transactions Date Target Buyer/Investor Relationship Type Transaction Type

Aug-24-2016 SoftBank Group Corp. (TSE:9984)

- Transaction Financing Public Offering

Target Company Details

ARM Holdings PLC Company Name: ARM Holdings PLC Primary Industry: Semiconductors Website: www.arm.com Headquarters: United Kingdom Business Description ARM Holdings PLC, together with its subsidiaries, designs microprocessors, physical intellectual property (IP), and related technology and software. The company also sells development tools that enhance the performance of embedded applications. Its products include microprocessor cores, which consist of specific functions, such as video, graphics, display technology, and Bluetooth radio IP; and physical IP components for the design and manufacture of integrated circuits, which comprise SoCs, embedded memories, standard cells, and input/output components. The company also offers development tools, including Fast Models, which are simulation models of ARM processers and system IP that are used by engineers to build a virtual prototype of their system; Cycle Models used to create virtual prototypes; ARM Development Boards that provide hardware implementations of ARM and graphics processers, as well as system IP on test chips; ARM Development Studio, an integrated suite of software development tools; and Keil Microcontroller Development Kit, an integrated toolsuite, which specifically targets software development on Cortex-M

http://www.arm.com/
SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 5 of 9

processor-based catalogue microcontrollers. In addition, it provides support, maintenance, and training services to licensees, systems companies, and other systems designers. The company licenses and sells its technology and products, and development tools to electronics and systems companies. It operates in Europe, the United States, and the Asia Pacific. The company was formerly known as Advanced RISC Machines Holdings Limited and changed its name to ARM Holdings PLC in March 1998. ARM Holdings PLC was founded in 1990 and is based in Cambridge, the United Kingdom. As of September 5, 2016, ARM Holdings PLC operates as a subsidiary of SoftBank Group Corp.

Target LTM Financial Information and Balance Sheet as of: Jul-27-2016 Period Ending: Jun-30-2016 Exchange Rate = 1.000 Total Revenue (£ mm) 1,056.40 Total Debt (£ mm) 71.70 EBITDA (Incl. Equity Inc. from Affiliates) (£ mm)

461.80 Total Preferred (£ mm) -

EBIT (Incl. Equity Inc. from Affiliates) (£ mm)

419.00 Minority Interest (£ mm) -

Net Income (£ mm) 359.10 Total Cash & ST Investments (£ mm)

799.30

Earnings from Cont. Ops. (£ mm) 359.10 Net Debt (£ mm) (727.60) Diluted EPS before extra (£ ) 0.25 Total Assets (£ mm) 2,409.80 Total Common Equity (£ mm) 2,018.20

Seller Company Details

Baillie Gifford & Co. Seller Name: Baillie Gifford & Co. Primary Industry: Asset Management and Custody

Banks Website: www.bailliegifford.com Headquarters: Midlothian, United Kingdom Business Description Baillie Gifford & Co. is an employee owned investment manager. The firm provides its services to pension funds, charitable organizations, retail investors, and institutional investors. It manages separate client focused equity, fixed income, balanced, and multi-asset portfolios. The firm launches and manages equity, fixed income, and balanced mutual funds. It also manages multi-asset mutual funds. The firm invests in the public equity and fixed income markets across the globe. It also invests in alternative investments markets. For the fixed income portion of the portfolio, the firm invests in government bond and corporate bonds. It also invests in investment grade, high yield, and emerging market bonds. The firm also invests in currencies. It employs fundamental analysis with a bottom-up stock picking approach to make its investments. The firm conducts in-house research to make its investments. Baillie Gifford & Co. was founded in 1908 and is based in Edinburgh, Scotland with an additional office in London, United Kingdom. Company Relationship Information Relationship Type: Prior Investment Percent Sold (%): 10.00000 Percent Currently Held (%): -

Proprietary Relationship Details

Percent of Funds Invested (%):

(Proprietary Data Only)

- Return On Investment (%):

(Proprietary Data Only)

-

Investor Notes:

(Proprietary Data Only)

BlackRock Institutional Trust Company, N.A. Seller Name: BlackRock Institutional Trust

Company, N.A. Primary Industry: Asset Management and Custody

Banks Website: Headquarters: California, United States Business Description

http://www.bailliegifford.com/
SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 6 of 9

BlackRock Institutional Trust Company, N.A. is a privately owned investment manager. The firm also provides fiduciary and trust services to its institutional clients. It provides its services to individuals, institutional investors, retirement plans, defined contribution and defined benefit plans, trusts, foundations, endowments, corporations, and Taft-Hartley unions. The firm launches and manages equity, fixed income, balanced, and commodity mutual funds for its clients. It also manages equity, fixed income, balanced, commodity, and multi-asset exchange-traded funds. The firm launches and manages hedge funds and private funds which invest in fixed income and equity markets. It invests in the public equity, fixed income, and alternative investments markets across the globe. The firm also makes investments in ADR's and GDR's. It primarily invests in growth and value stocks of small-cap, mid-cap, and large-cap companies, employing a fundamental analysis with a bottom-up stock picking approach to make its investments. The firm also provides important investment capabilities such as securities lending services, transition management, cash management, currency management, and portfolio transition services. It employs tactical asset allocation, risk-controlled active products, indexed, enhanced index, and active product lines. The firm typically employs an indexing strategy to create its equity portfolios. It makes its fixed income investments in asset-backed securities, mortgage-backed securities, and government bonds across all maturities and credit ratings. The firm employs Alpha Tilts, Growth Tilts, Value Tilts, International Alpha Tilts, Market Neutral, Active Fixed Income Update, Asset Allocation, LifePath, US Index, and International Index strategies for its portfolios. It also invests in multi-asset, commodities, currencies, derivatives, real estate investments in REIT's, REOC's, and real estate properties to make its alternative investments. The firm employs a quantitative and a qualitative analysis to create its fixed income investments. It conducts in-house research to make its investments. The firm was formerly known as Barclays Global Investors, National Association. It was founded in 1971 and is based in San Francisco, California with additional offices in Boston, Massachusetts; New York, New York; Atlanta, Georgia; and Chicago, Illinois. Company Relationship Information Relationship Type: Prior Investment Percent Sold (%): 5.30000 Percent Currently Held (%): -

Proprietary Relationship Details

Percent of Funds Invested (%):

(Proprietary Data Only)

- Return On Investment (%):

(Proprietary Data Only)

-

Investor Notes:

(Proprietary Data Only)

Goldman Sachs Bank AG Seller Name: Goldman Sachs Bank AG Primary Industry: Investment Banking and Brokerage Website: www.goldman-sachs.ch Headquarters: Zurich, Switzerland Business Description Goldman Sachs Bank AG offers private banking products and services to individuals and families. The company operates through three divisions: Investment Management, Equities, and Investment Banking. Its Investment Management division manages wealth for private clients, foundations, trusts, and private companies. The Equities division engages in brokerage transactions with institutional clients and offers cash, warrants, and derivatives products. Its Investment Banking division structures and executes corporate finance deals, and mergers and acquisitions. The company is based in Zurich, Switzerland. Goldman Sachs Bank AG operates as a subsidiary of The Goldman Sachs Group, Inc. Company Relationship Information Relationship Type: Prior Investment Percent Sold (%): 0.00188 Percent Currently Held (%): -

Proprietary Relationship Details

Percent of Funds Invested (%):

(Proprietary Data Only)

- Return On Investment (%):

(Proprietary Data Only)

-

Investor Notes:

http://www.goldman-sachs.ch/
SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 7 of 9

(Proprietary Data Only)

The Raine Group LLC Seller Name: The Raine Group LLC Primary Industry: Investment Banking and Brokerage Website: www.raine.com Headquarters: New York, United States Business Description The Raine Group LLC is a boutique merchant banking firm that offers financial advisory services. The firm is based in New York, New York with an additional office in Beverly Hills, California. The Raine Group LLC operates as a subsidiary of Raine Holdings Llc. Company Relationship Information Relationship Type: Prior Investment Percent Sold (%): 0.02132 Percent Currently Held (%): -

Proprietary Relationship Details

Percent of Funds Invested (%):

(Proprietary Data Only)

- Return On Investment (%):

(Proprietary Data Only)

-

Investor Notes:

(Proprietary Data Only)

Thornburg Investment Management, Inc. Seller Name: Thornburg Investment

Management, Inc. Primary Industry: Asset Management and Custody

Banks Website: www.thornburginvestments.com Headquarters: New Mexico, United States Business Description Thornburg Investment Management, Inc. is an employee owned investment manager. The firm primarily provides its services to individuals. It also caters to high net worth individuals, banking or thrift institutions, investment companies, pension and profit sharing plans, charitable organizations, corporations, and state or municipal government entities. The firm manages separate client-focused equity and fixed income portfolios. It also launches and manages equity, fixed income, and balanced mutual funds for its clients. The firm also launches and manages hedge funds. For its equity portion, the firm primarily invests in growth and value stocks across all capitalizations. For its fixed income portion, the firm invests in U.S. government, its agencies or instrumentalities, and municipal securities. It employs fundamental analysis along with bottom-up stock picking approach to create its portfolios. The firm benchmarks the performance of its equity portfolios against the S&P 500 Total Return Reinvested Index, Russell 3000 Growth Index Index, MSCI ACWI ex-U.S. Index, and MSCI EAFE Index. It benchmarks the performance of its fixed income portfolios against the Barclays Intermediate US Government Bond Index, Barclays Intermediate US Government/Credit Index, Barclays 5-year Muni Bond Index, BofA Merrill Lynch 1-10 Yr Muni Index, and BofA Merrill Lynch 3-15 Yr Muni Index. Thornburg Investment Management, Inc. was founded in 1982 and is based in Santa Fe, New Mexico. Company Relationship Information Relationship Type: Prior Investment Percent Sold (%): 5.00000 Percent Currently Held (%): -

Proprietary Relationship Details

Percent of Funds Invested (%):

(Proprietary Data Only)

- Return On Investment (%):

(Proprietary Data Only)

-

Investor Notes:

http://www.raine.com/
http://www.thornburginvestments.com/
SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 8 of 9

(Proprietary Data Only)

Buyer Company Details

SoftBank Group Corp. (TSE:9984) Buyer Name: SoftBank Group Corp. (TSE:9984) Primary Industry: Wireless Telecommunication

Services Website: group.softbank Headquarters: Japan Business Description SoftBank Group Corp. provides telecommunication services in Japan and internationally. The company operates in six segments: SoftBank, Sprint, Yahoo Japan, Arm, SoftBank Vision Fund and Delta Fund, and Brightstar. The SoftBank segment offers mobile communications, broadband, and fixed-line communications services; and sells PC software, peripherals, and mobile device accessories. The Sprint segment provides mobile communications and fixed-line telecommunications services; sells and leases mobile devices; and sells accessories. The Yahoo Japan segment is involved in Internet advertising, e-commerce, and membership service activities. The Arm segment designs microprocessor intellectual property and related technology; sells software tools; and offers software services. The SoftBank Vision Fund and Delta Fund segment is involved in investment activities. The Brightstar segment distributes mobile devices. The company also owns professional baseball team, as well as manages and maintains baseball stadium and other sports facilities; generates, supplies, and sells electricity from renewable energy sources; operates IT information site; and operates software site, through which it conducts an online game business for mobile phones and PCs. In addition, it provides investment management and payment services; visual, audio, and data content distribution services; and solutions and services for online businesses. The company was formerly known as SoftBank Corp. and changed its name to SoftBank Group Corp. in July 2015. SoftBank Group Corp. was founded in 1981 and is headquartered in Tokyo, Japan. Company Relationship Information Relationship Type: Current Subsidiary/Operating Unit Lead Investor: No

Current Investment (£ mm): - Total Investment (£ mm): - Percent Acquired (%): 98.55178 Percent Currently Held (%): 100.00000

Proprietary Relationship Details

Percent of Funds Invested (%):

(Proprietary Data Only)

- Return On Investment (%):

(Proprietary Data Only)

-

Investor Notes:

(Proprietary Data Only)

Buyer LTM Financial Information and Balance Sheet as of: Aug-12-2016 Period Ending: Jun-30-2016 Exchange Rate = 0.007 Total Revenue (£ mm) 66,953.83 Total Debt (£ mm) 90,619.48 EBITDA (Incl. Equity Inc. from Affiliates) (£ mm)

19,569.65 Total Preferred (£ mm) -

EBIT (Incl. Equity Inc. from Affiliates) (£ mm)

9,126.33 Minority Interest (£ mm) 6,283.94

Net Income (£ mm) 3,331.85 Total Cash & ST Investments (£ mm)

23,667.82

Earnings from Cont. Ops. (£ mm) 3,812.55 Net Debt (£ mm) 66,951.66 Diluted EPS before extra (£ ) 1.38 Total Assets (£ mm) 151,048.61 Total Common Equity (£ mm) 17,681.97

Related Filings Company Name Form Type Filed Date

SoftBank Group Corp. (TSE:9984) > Transaction Details > Merger/Acquisition

Date Created: Jun-28-2019 Copyright © 2019 S&P Global Market Intelligence, a division of S&P Global Inc. All Rights reserved. Page 9 of 9

ARM Holdings PLC Sep-05-2016 ARM Holdings PLC Sep-02-2016 ARM Holdings PLC 6-K Aug-30-2016 ARM Holdings PLC Aug-03-2016 ARM Holdings PLC 6-K Aug-03-2016 ARM Holdings PLC Recommended cash acquisition of

ARM Holdings plc by SoftBank Group Corp. to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006

Aug-03-2016

ARM Holdings PLC Slaughters, Freshfields and US firms to pocket £14.5m in Softbank/ARM fees

Aug-03-2016

ARM Holdings PLC Jul-18-2016 ARM Holdings PLC Jul-18-2016 ARM Holdings PLC Jul-18-2016

* Denotes that the information is proprietary. Proprietary data is in USD only.

Historical Equity Pricing Data supplied by Interactive Data Pricing and Reference Data LLC