Exhibit: Multiples of Comparable Firms Multiples BSET ETH FBN HVT LZB RN STLY TPX WSM EV/sale 0.9 0.1 0.5 0.5 3.0 0.3 1.7 EVet income 12.9 -3.2 22 7.4 138 22.0 EV/CFA -52 23 -26 20 9.1 -16 26.6 30.6 Reasons for Rejection EV Teuer Furniture Multiples EV(using BSET BSET deals with investment and real estate, (using Avearge) which is an additional line of business. Hence, median) this firm is not comparable to Teuer Furniture Sales 148 EV/sale ( based on median) EV/Sale( ba 0.53 sed on 1.33 79 198 ETH Product portfolio exists in higher value chain Average products Net Income 22 EVet income FBN The firm has huge capital investments and owns all its stores; Also, their product portfolio is diversified CFA 13 EV/CFA WSM Present in diversified products like cooking dining and wedding registry STLY Present in diversified products like home entertainment and accent items Since the industry is a growing industry, Sales is the best metric to be looked at Since the sample size is small, median is not an appropriate metric to consider. So pillows EV calculated using mean value is Reasons for acceptance Based on All values in Mn Median Based on Mean HVT Similar business model, by buying merchandise from several manufacturers EV 198 Since there is no cash and LZB Similar business model no debt, the EV shall be No of shares 9.95 same as market RN Close business model; don't manufacture 9.95 products and sell through retail locations Share Price 7.97 19,89 capitalisation