Wednesday, April 25, 2012 7:57 PM Z:\ECM\_Equity\Client\Technology\_Technology\Tobiason IPO Notes\2012\04.April\04.BLOX\Riders\Tech IPO aftermarket performance for GGVC 04.25.12 v1.pptx

Deutsche Bank

Tech IPO Aftermarket Performancefrom “In a Hot IPO Market, Investors Can Get Badly Burned”Forbes, April 2012

Only Tech IPO since 2011 that rose 50% or more on T+1 with subsequent positive returns

50%+ T+1 perf. threshold

(80%)

(60%)

(40%)

(20%)

0%

20%

40%

60%

80%

100%

(25%) 0% 25% 50% 75% 100% 125% 150%

T+

180

sin

ce T

+1

T+1

SoftwareInternet & New MediaHardware/SemisOther

Legend