 Combined Entity To Be Managed by an Affiliate of BC Partners Advisors L.P. Under the terms of the proposed transaction, GARS stockholders will receive a combination of i 19.1 million in cash approximately 1.19 per share from PTMN; ii PTMN shares valued at 100 of PTMNs net asset value per share at the time of closing of the transaction in an aggregate number equal to GARS net asset value at closing minus the 19.1 million of PTMN cash merger consideration; and iii an additional cash payment from Sierra Crest, the external adviser to PTMN, of 5.0 million in the aggregate, or approximately 0.31 per share. 