Please include formulas, thank you!

H I J Synergy 35.0% Shares outstanding (M) 88.00 7 8 A B D E F 1 Equity Valuations using Multiples and Transactions 2 EPS BV Sales EBITDA Premium 3 Historical Multiples: 4 - Average 162 3.3 2.2 11.0 44.0% 5 6 EPS Last 4Q Est. 2021 Est. 2022 JTM EPS 4.00 4.15 4.33 Average 9 Book Value 10 JTM Book Value 22.50 11 Average 12 Sales 13 JTM Sales (Last 40) 3,722 14 Average Sales Multiple 15 Firm Value 16 Debt Value 17 Equity Value 18 Average 19 EBITDA 20 JTM EBITDA (Last 40) 744 21 Average EBITDA Multiple 22 Firm Value 23 Debt Value 1,800 24 Equity Value 25 Average 26 Premium 27 Pre-Announcement Stock Price 45.00 28 Average 29 Synergy 30 Pre-Announcement Stock Price 31 Average 32 1,800 45.00 H I J Synergy 35.0% Shares outstanding (M) 88.00 7 8 A B D E F 1 Equity Valuations using Multiples and Transactions 2 EPS BV Sales EBITDA Premium 3 Historical Multiples: 4 - Average 162 3.3 2.2 11.0 44.0% 5 6 EPS Last 4Q Est. 2021 Est. 2022 JTM EPS 4.00 4.15 4.33 Average 9 Book Value 10 JTM Book Value 22.50 11 Average 12 Sales 13 JTM Sales (Last 40) 3,722 14 Average Sales Multiple 15 Firm Value 16 Debt Value 17 Equity Value 18 Average 19 EBITDA 20 JTM EBITDA (Last 40) 744 21 Average EBITDA Multiple 22 Firm Value 23 Debt Value 1,800 24 Equity Value 25 Average 26 Premium 27 Pre-Announcement Stock Price 45.00 28 Average 29 Synergy 30 Pre-Announcement Stock Price 31 Average 32 1,800 45.00