POET Technologies Inc.

the assumptions were not pulled out of someone's backside. All assumptions had corroborating evidence. Will you be able to find that evidence in public documents? Probably not, but Pellegrino would not have used 5% if it was actually 66%. The entire valuation report and model would have been inaccurate and would have defeated the purpose of the Pellegrino exercise.

Pellegrino is not going to damage their reputation by using a figure that would be so far off from reality.