1. What is the Series A share price?
2. Assume Strava is acquired two years after the Series A and prior to raising any additional financing in two scenarios. One is gross proceeds of $15M and the other is gross proceeds of $30M. In both of these scenarios:
   1. What are the proceeds to Mark Gainey and Michael Horvath?
   2. What are the proceeds to Sigma?
   3. What are the MOIC and IRR for Sigma?

Below you will find a list of investors in the Series A round for Strava along with a pre and post financing cap table, and the liquidation preference from the Sigma term sheet. Answer the following questions: 1. What is the Series A share price? 2. Assume Strava is acquired two years after the Series A and prior to raising any additional financing in two scenarios. One is gross proceeds of $15M and the other is gross proceeds of $30M. In both of these scenarios: a. What are the proceeds to Mark Gainey and Michael Horvath? b. What are the proceeds to Sigma? c. What are the MOIC and IRR for Sigma? EXHIBIT A Investor Mark Gainey (1) Michael Horvath (1) Sigma Other Investors Investment Amount $685,000 $685,000 $2,925,000 $300,000 (1) This amount includes an aggregate of $585,000 in loans outstanding as of October 4, 2010, lent by the Founder to the Company, which amount will be converted into shares of Series A Preferred Stock based on the price per share of the Series A Preferred Stock. EXHIBIT B Pre and Post-Financing Capitalization Security Common Stock - Total Series A Preferred (2) Total Pre-Financing # of Shares % 19,328,389 100.00% 0 0.00% (3) Post-Financing # of Shares % 22,047,737(1) 60.81% 14,210,232 39.19% 36,257,969 100.00% 19,328,389 100.00% (1) Includes an unallocated option pool reserve of 2,719,348 shares of Common Stock. (2) This number includes an aggregate of $1,170,000 in loans outstanding as of October 4, 2010, lent by the Founders to the Company, which amount will be converted into shares of Series A Preferred Stock based on the price per share of the Series A Preferred Stock. Source: Company documents. (3) Common stock in the pre-financing capitalization includes 8,000,000 shares of restricted stock owned by Michael Horvath and 8,000,000 shares of restricted stock owned by Mark Gainey and 3,328,389 stock options granted to early employees, all subject to vesting. Liquidation Preference: In the event of any liquidation, dissolution or winding up of the Company, the proceeds shall be paid as follows: First pay the Original Purchase Price, plus declared and unpaid dividends on each share of Series A Preferred. Thereafter, any remaining proceeds will be paid to the holders of Common Stock and the Series A Preferred (on an as converted basis) until the holders of the Series A Preferred receive two times their Original Purchase Price (including the 1x preference in the previous sentence); thereafter, the holders of the Common Stock shall receive all remaining proceeds. Below you will find a list of investors in the Series A round for Strava along with a pre and post financing cap table, and the liquidation preference from the Sigma term sheet. Answer the following questions: 1. What is the Series A share price? 2. Assume Strava is acquired two years after the Series A and prior to raising any additional financing in two scenarios. One is gross proceeds of $15M and the other is gross proceeds of $30M. In both of these scenarios: a. What are the proceeds to Mark Gainey and Michael Horvath? b. What are the proceeds to Sigma? c. What are the MOIC and IRR for Sigma? EXHIBIT A Investor Mark Gainey (1) Michael Horvath (1) Sigma Other Investors Investment Amount $685,000 $685,000 $2,925,000 $300,000 (1) This amount includes an aggregate of $585,000 in loans outstanding as of October 4, 2010, lent by the Founder to the Company, which amount will be converted into shares of Series A Preferred Stock based on the price per share of the Series A Preferred Stock. EXHIBIT B Pre and Post-Financing Capitalization Security Common Stock - Total Series A Preferred (2) Total Pre-Financing # of Shares % 19,328,389 100.00% 0 0.00% (3) Post-Financing # of Shares % 22,047,737(1) 60.81% 14,210,232 39.19% 36,257,969 100.00% 19,328,389 100.00% (1) Includes an unallocated option pool reserve of 2,719,348 shares of Common Stock. (2) This number includes an aggregate of $1,170,000 in loans outstanding as of October 4, 2010, lent by the Founders to the Company, which amount will be converted into shares of Series A Preferred Stock based on the price per share of the Series A Preferred Stock. Source: Company documents. (3) Common stock in the pre-financing capitalization includes 8,000,000 shares of restricted stock owned by Michael Horvath and 8,000,000 shares of restricted stock owned by Mark Gainey and 3,328,389 stock options granted to early employees, all subject to vesting. Liquidation Preference: In the event of any liquidation, dissolution or winding up of the Company, the proceeds shall be paid as follows: First pay the Original Purchase Price, plus declared and unpaid dividends on each share of Series A Preferred. Thereafter, any remaining proceeds will be paid to the holders of Common Stock and the Series A Preferred (on an as converted basis) until the holders of the Series A Preferred receive two times their Original Purchase Price (including the 1x preference in the previous sentence); thereafter, the holders of the Common Stock shall receive all remaining proceeds