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DewDiligence

11/03/18 4:23 PM

#221922 RE: DewDiligence #221921

RVNC’s enterprise value=$835M at the current share price ($24.88), based on 41.2M fully-diluted shares (#msg-144654911) and a pro forma cash balance of $189.6M (#msg-144654901).

Note: The EV calculated above does not take into account operating cash burn since 9/30/18.