Breadtalk - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/19	DMG & Partners	Breadtalk	0.87	0.81	Neutral
05/07/19	DBS Vickers	Breadtalk	0.835	0.92	Hold
05/08/19	DMG & Partners	Breadtalk	0.825	0.81	Neutral	Sum of parts
07/02/19	DMG & Partners	Breadtalk	0.75	0.81	Neutral
08/02/19	DBS Vickers	Breadtalk	0.715	0.77	Hold	Sum of parts
08/05/19	DMG & Partners	Breadtalk	0.69	0.71	Neutral	Sum of parts
09/03/19	DMG & Partners	Breadtalk	0.665	0.71	Neutral
09/04/19	DMG & Partners	Breadtalk	0.65	0.67	Neutral	Sum of parts, EV/Ebitda7.64x
09/06/19	DBS Vickers	Breadtalk	0.645	0.61	Hold	Sum of parts
12/11/19	DMG & Partners	Breadtalk	0.625	0.67	Neutral
02/25/20	DBS Vickers	Breadtalk	0.645	0.49	Accept offer	offer @ $0.77, Sum of parts
02/25/20	Lim & Tan	Breadtalk	0.645	0	Accept offer	offer @ $0.77
02/26/20	DMG & Partners	Breadtalk	0.645	0.77	Accept offer	offer @ $0.77