Page 1 of 1 Quantitative Equity Report | Release Date: 23 June 2014 | Reporting Currency: EUR | Trading Currency: EUR Vertice Trescientos Sesenta Grados SA VER Last Close Quantitative Fair Value Estimate Market Cap (Mil) Sector Industry 0.04 0.05 13.6 t Consumer Cyclical Media - Diversified Vertice Trescientos Sesenta Grados, SA is engaged in media sector and operates in four segments: audiovisual services, television, cinema and theater. Country of Domicile ESP Spain Price Versus Quantitative Fair Value 2010 2011 2012 2013 2014 2015 Sales/Share Forecast Range Forcasted Price Dividend Split 10 Quantitative Scores 8 Scores Momentum: — Standard Deviation: 95.85 All Rel Sector Rel Country Quantitative Moat None Valuation Undervalued Quantitative Uncertainty Extreme Financial Health Moderate 44 76 13 14 50 86 9 6 6 35 95 6 6 Quantitative Fair Value Estimate 4 Total Return 0.04 52-Wk 0.20 0.04 5-Yr 0.46 2 VER t Undervalued ESP Fairly Valued Overvalued Valuation Sector Median Country Median — 13.8 — 12.6 — — 0.0 0.7 1.01 18.0 13.4 10.5 18.5 1.89 1.7 0.9 1.05 19.6 14.5 8.4 16.9 2.12 1.5 1.1 Current 5-Yr Avg Sector Median Country Median 11.6 5.2 427.4 8.3 2.2 268.7 Current 5-Yr Avg Price/Quant Fair Value Price/Earnings Forward P/E Price/Cash Flow Price/Free Cash Flow Dividend Yield % Price/Book Price/Sales 0.89 -0.2 — 3.6 — — -1.6 1.8 Profitability Return on Equity % Return on Assets % Revenue/Employee (K) -173.4 -70.6 68.8 -50.3 -22.0 — Score 100 Quantitative Moat 80 60 40 20 0 2007 2008 2009 2010 2011 2012 2013 Financial Health Current 5-Yr Avg Distance to Default Solvency Score Assets/Equity Long-Term Debt/Equity 2014 Sector Median Country Median 0.6 486.1 1.8 0.2 0.6 635.1 2.7 0.4 0.2 — -3.8 — — — 0.7 0.2 1-Year 3-Year 5-Year 10-Year -65.0 — — — -25.2 -21.4 -56.3 — — — -5.7 -40.1 -40.4 — — — -8.2 -36.6 — — — — — — Growth Per Share Revenue % Operating Income % Earnings % Dividends % Book Value % Stock Total Return % -46.3 -60.6 -26.1 -12.0 -40.7 -58.1 -48.3 -63.8 -4.3 -10.3 — 76.9 0.6 — -1.3 0.0 — -0.7 0.3 — -0.2 1.8 — -0.2 1.8 Total Return % +/– Market (Morningstar World Index) Dividend Yield % Price/Earnings Price/Revenue Undervalued Fairly Valued Overvalued Monthly Volume (Thousand Shares) Liquidity: High 18,985 Financials (Fiscal Year in K) Revenue % Change 2009 2010 2011 2012 2013 TTM 97,810 -11.0 99,223 1.4 133,538 34.6 86,626 -35.1 8,294 -90.4 7,841 -5.5 -22,312 -780.9 -18,172 3,227 — 942 -30,892 -1,057.3 -35,122 -18,048 — -40,738 -57,641 — -68,610 — — -66,648 -4,927 -7,897 -12,824 -13.1 728 -5,694 -4,966 -5.0 12,130 -2,518 9,612 7.2 5,952 -1,854 4,098 4.7 3,762 — — — 3,762 — — — Operating Cash Flow Capital Spending Free Cash Flow % Sales -0.07 -2,605.5 -0.05 0.00 — -0.02 -0.11 — 11.66 -0.13 — 0.01 -0.22 — — -0.21 — — EPS % Change Free Cash Flow/Share — 0.42 308,189 — 0.50 306,559 — 0.38 309,872 — 0.28 309,872 — -0.03 — — -0.03 309,872 -13.8 -7.9 -18.7 0.42 1.7 0.5 0.3 0.7 0.41 1.7 -26.0 -14.1 -26.2 0.54 2.0 -40.0 -20.2 -47.0 0.43 2.0 -172.1 -68.0 -827.2 0.08 — -173.4 -70.6 -850.0 0.08 — Profitability Return on Equity % Return on Assets % Net Margin % Asset Turnover Financial Leverage 75.7 -22.8 24,827 80.0 3.3 33,819 81.7 -23.1 23,466 84.5 -20.8 23,951 65.2 -695.0 — — — 8,702 Gross Margin % Operating Margin % Long-Term Debt 127,722 3.1 152,826 3.3 115,951 4.7 87,643 3.6 -7,929 0.7 -8,384 0.7 Total Equity Fixed Asset Turns Quarterly Revenue & EPS Revenue (Mil) Mar 2014 2.2 2013 — 2012 — 2011 — Earnings Per Share 2014 0.00 2013 — 2012 — 2011 — Operating Income % Change Net Income Dividends/Share Book Value/Share Shares Outstanding (K) Revenue Growth Year On Year % Jun — — — — Sep — -29.3 -25.2 — Dec — 1.8 38.8 69.9 Total — 8.3 86.6 133.5 — — — — — -0.01 -0.01 — — -0.02 -0.11 -0.12 — -0.22 -0.13 -0.11 16.3 -44.4 -95.3 2012 2013 ©2014 Morningstar. All Rights Reserved. Unless otherwise provided in a separate agreement, you may use this report only in the country in which its original distributor is based. Data as originally reported. The information contained herein is not represented or warranted to be accurate, correct, complete, or timely. This report is for information purposes only, and should not be considered a solicitation to buy or sell any security. Redistribution is prohibited without written permission. To order reprints, call +1 312-696-6100. To license the research, call +1 312-696-6869. 2014 ® ß