#1 Jaguar appears to be undervalued based on comparable company and precedent transaction analyses, which imply acquisition premiums of 20-35% and share prices of $175-$200. #2 Management recommends a targeted sales process focused on the most likely "Tier 1" strategic partners while also engaging "Tier 2" partners. #3 The presentation evaluates Jaguar's financial projections, comparable companies, precedent transactions, and potential strategic partners to support acquiring Jaguar at a 20-35% premium, or $175-$200 per share.