TENX: Why Our $40 PT Could Be Really Low - Price Comps Highlight MULTIFOLD Potential Upside to Our Estimates if LEVEL Succeeds — Reiterate TOP PICK

Research evidence excerpt

TENX: Why Our $40 PT Could Be Really Low - Price Comps Highlight MULTIFOLD Potential Upside to Our Estimates if LEVEL Succeeds — Reiterate TOP PICK

Guggenheim Securities Equity Research & Equities Teams

Consumer Equity Research Technology & Media Equity Research

Consumer Discretionary IT Services

Simeon Siegel, CFA 212.518.9852 Jonathan Lee 212.518.5388

Simeon.Siegel@guggenheimpartners.com Jonathan.Lee@guggenheimpartners.com

Food Retailers; Consumables Retail/Distribution Media & Internet

John Heinbockel 212.381.4135 Taylor Manley 804.253.1336

John.Heinbockel@guggenheimpartners.com Taylor.Manley@guggenheimpartners.com

Hardlines Michael Morris, CFA 804.253.8025

Steven Forbes, CFA, CPA 212.381.4188 Michael.Morris@guggenheimpartners.com

Steven.Forbes@guggenheimpartners.com

Media & Live Entertainment

Restaurants Curry Baker 804.253.8029

Gregory Francfort, CFA 212.518.9182 Curry.Baker@guggenheimpartners.com

Gregory.Francfort@guggenheimpartners.com

Software

Tamjid Chowdhury 212.823.6739 Healthcare Equity Research

Tamjid.Chowdhury@guggenheimpartners.com

Biotechnology

John DiFucci 212.518.9670

Brad Canino 212.823.6558

John.DiFucci@guggenheimpartners.com

Brad.Canino@guggenheimpartners.com

Howard Ma 512.354.3458

Debjit Chattopadhyay, Ph.D. 212.823.6584 Howard.Ma@guggenheimpartners.com

Debjit.Chattopadhyay@guggenheimpartners.com

Jacob Smith 212.518.9286

Eddie Hickman, Ph.D. 212.518.9904 Jacob.Smith@guggenheimpartners.com

Eddie.Hickman@guggenheimpartners.com

Event Driven Strategies Team

Paul Jeng, Ph.D. 617.859.4618

Paul.Jeng@guggenheimpartners.com Event Driven Strategies

Aaron Glick 212.518.5898 Michael Schmidt, Ph.D. 617.859.4636

Aaron.Glick@guggenheimpartners.com Michael.Schmidt@guggenheimpartners.com

Christopher Colpitts 385.553.9836

Yatin Suneja 212.518.9565