| Capital Value | |||
| Turnover/ Revenue | 1,000,000 | 2,500,000 | 5,000,000 |
| Normalised Profit After Tax (“PAT”) @ 30% | 300,000 | 750,000 | 1,500,000 |
| Initial Valuation @ 9x | 2,700,000 | 6,750,000 | 13,500,000 |
| Initial Capital @ 9.9% | 267,300 | 668,250 | 1,336,500 |
| PAT After 2-Year Integration | 330,750 | 826,875 | 1,653,750 |
| Acquisition Valuation @ 9x | 2,976,750 | 7,441,875 | 14,883,750 |
| Acquisition Capital @ 90.1% | 2,682,052 | 6,705,129 | 13,410,259 |
| Primary Capital | 2,949,352 | 7,373,379 | 14,746,759 |
| PAT After 3-Year Earnout | 382,884 | 957,211 | 1,914,422 |
| Secondary Capital | 171,535 | 428,838 | 857,676 |
| Total Capital | 3,120,887 | 7,802,217 | 15,604,435 |
| 9.44 | 9.44 | 9.44 |
| Additional Value | |||
| Remuneration | 1,531,538 | 2,393,028 | 1,914,422 |
| HORIZON Profit Share | 3,063,076 | 4,786,056 | 3,828,845 |
| Bolt On Value Share | 1,162,755 | 1,162,755 | 1,162,755 |
| Total Additional Value | 5,757,369 | 8,341,839 | 6,906,022 |
| Total Enhanced Value | 8,878,256 | 16,144,056 | 22,510,457 |
| 26.54 | 19.52 | 13.61 |
| Capital Value | |||
| Turnover/ Revenue | 1,000,000 | 2,500,000 | 5,000,000 |
| Normalised Profit After Tax (“PAT”) @ 30% | 300,000 | 750,000 | 1,500,000 |
| Initial Valuation @ 9x | 2,700,000 | 6,750,000 | 13,500,000 |
| Initial Capital @ 9.9% | 267,300 | 668,250 | 1,336,500 |
| PAT After 2-Year Integration | 330,750 | 826,875 | 1,653,750 |
| Acquisition Valuation @ 9x | 2,976,750 | 7,441,875 | 14,883,750 |
| Acquisition Capital @ 90.1% | 2,682,052 | 6,705,129 | 13,410,259 |
| Primary Capital | 2,949,352 | 7,373,379 | 14,746,759 |
| PAT After 3-Year Earnout | 382,884 | 957,211 | 1,914,422 |
| Secondary Capital | 171,535 | 428,838 | 857,676 |
| Total Capital | 3,120,887 | 7,802,217 | 15,604,435 |
| 9.44 | 9.44 | 9.44 |
| Additional Value | |||
| Remuneration | 1,531,538 | 2,393,028 | 1,914,422 |
| HORIZON Profit Share | 3,063,076 | 4,786,056 | 3,828,845 |
| Bolt On Value Share | 1,162,755 | 1,162,755 | 1,162,755 |
| Total Additional Value | 5,757,369 | 8,341,839 | 6,906,022 |
| Total Enhanced Value | 8,878,256 | 16,144,056 | 22,510,457 |
| 26.54 | 19.52 | 13.61 |
| Capital Value | |||
| Turnover/ Revenue | 1,000,000 | 2,500,000 | 5,000,000 |
| Normalised Profit After Tax (“PAT”) @ 30% | 300,000 | 750,000 | 1,500,000 |
| Initial Valuation @ 9x | 2,700,000 | 6,750,000 | 13,500,000 |
| Initial Capital @ 9.9% | 267,300 | 668,250 | 1,336,500 |
| PAT After 2-Year Integration | 330,750 | 826,875 | 1,653,750 |
| Acquisition Valuation @ 9x | 2,976,750 | 7,441,875 | 14,883,750 |
| Acquisition Capital @ 90.1% | 2,682,052 | 6,705,129 | 13,410,259 |
| Primary Capital | 2,949,352 | 7,373,379 | 14,746,759 |
| PAT After 3-Year Earnout | 382,884 | 957,211 | 1,914,422 |
| Secondary Capital | 171,535 | 428,838 | 857,676 |
| Total Capital | 3,120,887 | 7,802,217 | 15,604,435 |
| 9.44 | 9.44 | 9.44 |
| Additional Value | |||
| Remuneration | 1,531,538 | 2,393,028 | 1,914,422 |
| HORIZON Profit Share | 3,063,076 | 4,786,056 | 3,828,845 |
| Bolt On Value Share | 1,162,755 | 1,162,755 | 1,162,755 |
| Total Additional Value | 5,757,369 | 8,341,839 | 6,906,022 |
| Total Enhanced Value | 8,878,256 | 16,144,056 | 22,510,457 |
| 26.54 | 19.52 | 13.61 |