<SEC-DOCUMENT>0001104659-24-073100.txt : 20240620
<SEC-HEADER>0001104659-24-073100.hdr.sgml : 20240620
<ACCEPTANCE-DATETIME>20240620064732
ACCESSION NUMBER:		0001104659-24-073100
CONFORMED SUBMISSION TYPE:	PRRN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240620
DATE AS OF CHANGE:		20240620

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MASIMO CORP
		CENTRAL INDEX KEY:			0000937556
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				330368882
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1228

	FILING VALUES:
		FORM TYPE:		PRRN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33642
		FILM NUMBER:		241054018

	BUSINESS ADDRESS:	
		STREET 1:		52 DISCOVERY
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
		BUSINESS PHONE:		949-297-7000

	MAIL ADDRESS:	
		STREET 1:		52 DISCOVERY
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Politan Capital Management LP
		CENTRAL INDEX KEY:			0001885245
		ORGANIZATION NAME:           	
		IRS NUMBER:				871666292
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PRRN14A

	BUSINESS ADDRESS:	
		STREET 1:		106 WEST 56TH STREET
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
		BUSINESS PHONE:		(212) 756-2000

	MAIL ADDRESS:	
		STREET 1:		106 WEST 56TH STREET
		STREET 2:		10TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10019
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SCHEDULE
14A<BR>
</B></FONT>(Rule&nbsp;14a-101)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INFORMATION REQUIRED IN PROXY STATEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SCHEDULE 14A INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of
the Securities Exchange Act of 1934</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Amendment No.&nbsp;2)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Filed by the Registrant &#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confidential, for Use of the
    Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting Material Under &sect;&nbsp;240.14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">Masimo Corporation</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified In Its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">POLITAN CAPITAL MANAGEMENT LP<BR>
POLITAN CAPITAL MANAGEMENT GP LLC<BR>
POLITAN CAPITAL PARTNERS GP LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">POLITAN CAPITAL NY LLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">POLITAN INTERMEDIATE LTD.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">POLITAN CAPITAL PARTNERS MASTER FUND LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">POLITAN CAPITAL PARTNERS LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">POLITAN CAPITAL OFFSHORE PARTNERS LP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">QUENTIN KOFFEY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MATTHEW HALL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AARON KAPITO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WILLIAM JELLISON</P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DARLENE SOLOMON</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Persons(s)&nbsp;Filing Proxy Statement,
if other than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#120;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee required</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with preliminary
    materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table in exhibit
    required by Item 25(b)&nbsp;per Exchange Act Rules&nbsp;14a-6(i)(1)&nbsp;and 0-11</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><B>PRELIMINARY COPY SUBJECT TO COMPLETION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><B>DATED JUNE 20, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2024 ANNUAL MEETING OF STOCKHOLDERS<BR>
OF<BR>
MASIMO CORPORATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT<BR>
OF<BR>
POLITAN CAPITAL MANAGEMENT LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN CAPITAL MANAGEMENT GP LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN CAPITAL PARTNERS GP LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN CAPITAL NY LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN INTERMEDIATE LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN CAPITAL PARTNERS MASTER FUND LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN CAPITAL PARTNERS LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN CAPITAL OFFSHORE PARTNERS LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>QUENTIN KOFFEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MATTHEW HALL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>AARON KAPITO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WILLIAM JELLISON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DARLENE SOLOMON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PLEASE SIGN, DATE AND MAIL THE ENCLOSED<BR>
WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM&nbsp;TODAY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This proxy statement (this
 &ldquo;Proxy Statement&rdquo;) and accompanying WHITE proxy card are being furnished to stockholders of Masimo Corporation, a Delaware
corporation (&ldquo;Masimo&rdquo; or the &ldquo;Company&rdquo;), by Politan Capital Management LP, a Delaware limited partnership (&ldquo;Politan&rdquo;),
Politan Capital Management GP LLC, a Delaware limited liability company (&ldquo;Politan Management&rdquo;), Politan Capital Partners
GP LLC, a Delaware limited liability company (&ldquo;Politan GP&rdquo;), Politan Capital NY LLC, a New York limited liability company
(the &ldquo;Record Stockholder&rdquo;), Politan Intermediate Ltd., an exempted company organized under the laws of the Cayman Islands
(&ldquo;Politan Ltd.&rdquo;), Politan Capital Partners Master Fund LP, an exempted limited partnership organized under the laws of the
Cayman Islands (&ldquo;Politan Master Fund&rdquo;), Politan Capital Partners LP, a Delaware limited partnership (&ldquo;Politan LP&rdquo;),
and Politan Capital Offshore Partners LP, an exempted company organized under the laws of the Cayman Islands (&ldquo;Politan Offshore&rdquo;
and together with Politan LP and Politan Master Fund, collectively, the &ldquo;Politan Funds&rdquo;), Quentin Koffey, Matthew Hall, and
Aaron Kapito (all of the foregoing Politan entities or individuals, collectively, the &ldquo;Politan Parties&rdquo; or &ldquo;we,&rdquo;
 &ldquo;our&rdquo; or &ldquo;us&rdquo;), William Jellison and Darlene Solomon (such individuals collectively with the Politan Parties,
the &ldquo;Participants&rdquo;) in connection with the solicitation of proxies from the holders (the &ldquo;Stockholders&rdquo;) of common
stock, $0.001 par value, of the Company (the &ldquo;Common Stock&rdquo;) at the 2024 annual meeting of Stockholders of the Company (including
any and all adjournments, postponements, continuations or reschedulings thereof, or any other meeting of Stockholders held in lieu thereof,
the &ldquo;2024 Annual Meeting&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
Proxy Statement and the enclosed <B>WHITE universal proxy card or voting instruction form</B> are first being mailed to Stockholders
on or about [&#9679;</FONT>], 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As a significant, long-term
Stockholder of Masimo, we are committed to maximizing the value of the Company for all Stockholders. To this end, we nominated a full
slate of two independent director candidates to the Board of Directors of the Company (the &ldquo;Board&rdquo;) at the 2023 annual meeting
of Stockholders (the &ldquo;2023 Annual Meeting&rdquo;): Michelle Brennan and Quentin Koffey (the &ldquo;2023 Newly-Elected Directors&rdquo;).
Stockholders overwhelmingly elected the 2023 Newly-Elected Directors at the 2023 Annual Meeting. However, in spite of this resounding
call for change, we believe that the Board and management team undermined attempts to improve the Company&rsquo;s broken corporate governance&mdash;resulting
in financial metrics, total shareholder return, and material risks to the Company only worsening (and which we describe in greater detail
in the &ldquo;<FONT STYLE="text-transform: uppercase">Background of the Solicitation</FONT>&rdquo; discussion in this Proxy Statement).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">It
has become clear to Politan that more comprehensive action &mdash; including additional stockholder-driven change in the boardroom &mdash;
is required to protect Stockholders from the legacy issues that plague the Company and to reposition the Company so that it can realize
its full potential. Accordingly, we are nominating two high-qualified, independent director candidates: William Jellison and Darlene
Solomon (each, a </FONT>&ldquo;Politan Nominee&rdquo; and, together, the &ldquo;Politan Nominees&rdquo;), each of whom has ideal operational,
industry and financial expertise, and is committed to bringing fully objective and openminded perspectives to the Board. We believe that,
together with the 2023 Newly-Elected Directors, the Politan Nominees will be fierce advocates for Stockholders and for best in class
corporate governance practices, and will facilitate a renewed focus on value creation in the Masimo boardroom.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We are seeking your support
at the 2024 Annual Meeting scheduled to be held at the Masimo Corporation Headquarters located at 52 Discovery,&nbsp;Irvine, California
92618 on July&nbsp;25, 2024, at 2:00 p.m., Pacific Daylight Time, in connection with the following items of business:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify">Election
                                            of our two director nominees, William Jellison and Darlene Solomon, to the Board as Class&nbsp;II
                                            directors to serve until the 2025 annual meeting of Stockholders (the &ldquo;2025 Annual
                                            Meeting&rdquo;) and until their respective successors are duly elected and qualified;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">Ratification of the selection of Grant Thornton LLP as the Company&rsquo;s
                                independent registered public accounting firm for the fiscal year ending December&nbsp;28, 2024 (&ldquo;Ratification
                                of Auditors&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">3.</TD><TD STYLE="text-align: justify">The advisory vote to approve the compensation of the Company&rsquo;s
                                named executive officers; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in">4.</TD><TD STYLE="text-align: justify">To approve the repeal of each provision of, or amendment to, the Company&rsquo;s
                                Fifth Amended and Restated Bylaws (as amended, supplemented or modified from time to time, the &ldquo;Bylaws&rdquo;)
                                that the Board adopted without the approval of Stockholders subsequent to April&nbsp;20, 2023, which
                                is the date of the most recent publicly available amendment to the Bylaws, and up to and including the
                                date of the 2024 Annual Meeting (the &ldquo;Bylaw Proposal&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Through this Proxy Statement
and enclosed <B>WHITE universal proxy card or voting instruction form</B>, we are soliciting proxies to elect the two Politan Nominees
to become Class&nbsp;II directors. The Politan Parties and Masimo will each be using a universal proxy card for voting on the election
of directors at the 2024 Annual Meeting, which will include the names of all nominees for election to the Board. Stockholders will have
the ability to vote for up to two nominees on the Politan Parties&rsquo; enclosed <B>WHITE universal proxy card or voting instruction
form</B>. There is no need to use the Company&rsquo;s gold proxy card or voting instruction form, regardless of how you wish to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Assuming the Politan Nominees
receive sufficient votes to be elected to the Board, your vote to elect the Politan Nominees will have the legal effect of replacing
two incumbent directors of the Company on the Board. If elected, the Politan Nominees, subject to their fiduciary duties as directors,
will seek to work with the other members of the Board to maximize Stockholder value. Together with the 2023 Newly-Elected Directors,
the Politan Nominees will constitute a majority on the Board. There is no assurance that the Company&rsquo;s other directors will serve
as directors if one or both of the Politan Nominees are elected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">You should refer to the Company
Proxy Statement for the 2024 Annual Meeting, which may be accessed without cost on the Securities and Exchange Commission&rsquo;s website
at <U>www.sec.gov</U>, for the names, background, qualifications and other information concerning the Company&rsquo;s nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Stockholders are permitted to
vote for less than two nominees or for any combination (up to two total) of the Politan Nominees and the Company&rsquo;s nominees on the
<B>WHITE universal proxy card or voting instruction form</B>. The Politan Parties urge Stockholders to use our <B>WHITE universal proxy
card or voting instruction form</B> to vote <B>&ldquo;FOR&rdquo;</B> both of the Politan Nominees and vote to &ldquo;<B>WITHHOLD</B>&rdquo;
on the Company&rsquo;s nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>IMPORTANTLY,&nbsp;IF YOU
MARK MORE THAN TWO &ldquo;FOR&rdquo; BOXES WITH RESPECT TO THE ELECTION OF DIRECTORS, ALL OF YOUR VOTES FOR THE ELECTION OF DIRECTORS
WILL BE DEEMED INVALID.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company has set the close
of business on June&nbsp;13, 2024 as the record date for determining Stockholders entitled to notice of, and to vote at, the 2024 Annual
Meeting (the &ldquo;Record Date&rdquo;). Stockholders of record at the close of business on the Record Date will be entitled to vote at
the 2024 Annual Meeting. Each outstanding share of Common Stock is entitled to one vote on each matter to be voted on at the 2024 Annual
Meeting. According to the Company Proxy Statement, at the close of business on the Record Date, there were 53,182,247 shares of Common
Stock outstanding and entitled to vote and no shares of preferred stock outstanding or entitled to vote. The mailing address of the principal
executive offices of the Company is 52 Discovery,&nbsp;Irvine, California 92618.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As of the date hereof, the
members of the Politan Parties in this solicitation collectively own an aggregate of 4,713,518 shares of Common Stock (the &ldquo;Politan
Group Shares&rdquo;). Mr.&nbsp;Koffey may be deemed to own an aggregate of 4,714,746 shares of Common Stock, which consists of 1,228
RSUs plus the Politan Group Shares (the &ldquo;Koffey Shares&rdquo;). The Participants intend to vote the Politan Group Shares and the
Koffey Shares (which are capable of being voted), as applicable, <B>&ldquo;FOR&rdquo;</B> the election of the Politan Nominees, <B>&ldquo;FOR&rdquo;
</B>the ratification of Grant Thornton LLP as the Company&rsquo;s independent registered public accounting firm for the 2024 fiscal year,
<B>&ldquo;AGAINST&rdquo;</B> the approval of named executive officer compensation and <B>&ldquo;FOR&rdquo;</B> the approval of the Bylaw
Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We urge you to carefully consider
the information contained in this Proxy Statement and then support our efforts by signing, dating and returning the enclosed <B>WHITE
universal proxy card or voting instruction form</B> today.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">THIS SOLICITATION IS BEING
MADE BY <FONT STYLE="text-transform: uppercase">the PARTICIPANTS AND NOT ON BEHALF OF THE BOARD OR MANAGEMENT OF THE COMPANY. The Politan
Parties Are NOT AWARE OF ANY OTHER MATTERS TO BE BROUGHT BEFORE THE 2024 ANNUAL MEETING OTHER THAN AS DESCRIBED HEREIN. SHOULD OTHER
MATTERS, WHICH the Politan Parties are</FONT> NOT AWARE OF A REASONABLE TIME BEFORE THIS SOLICITATION, BE BROUGHT BEFORE THE 2024 ANNUAL
MEETING, THE PERSONS NAMED AS PROXIES IN THE ENCLOSED <B>WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM</B>&nbsp;WILL VOTE ON
SUCH MATTERS IN THEIR DISCRETION.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">The
POLITAN Parties </FONT>URGE YOU TO VOTE <B>&ldquo;FOR&rdquo; </B>THE POLITAN NOMINEES AND <B>&ldquo;WITHHOLD&rdquo;</B> ON THE COMPANY
NOMINEES, BY FOLLOWING THE INSTRUCTIONS ON THE ENCLOSED <B>WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM</B>&nbsp;TODAY. PLEASE
SIGN, DATE AND RETURN THE <B>WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM</B>&nbsp;VOTING <B>&ldquo;FOR&rdquo;</B> THE ELECTION
OF THE POLITAN NOMINEES.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">HOLDERS OF SHARES AS OF THE
RECORD DATE ARE URGED TO SUBMIT A <B>WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM</B>&nbsp;EVEN IF YOUR SHARES OF COMMON STOCK
WERE SOLD AFTER THE RECORD DATE.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">IF YOU HAVE ALREADY SENT A
PROXY CARD FURNISHED BY COMPANY MANAGEMENT OR THE BOARD, YOU MAY&nbsp;REVOKE THAT PROXY AND VOTE ON EACH OF THE PROPOSALS DESCRIBED IN
THIS PROXY STATEMENT BY SIGNING, DATING AND RETURNING THE ENCLOSED <B>WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM</B>. THE
LATEST DATED PROXY IS THE ONLY ONE THAT WILL BE COUNTED. ANY PROXY MAY&nbsp;BE REVOKED AT ANY TIME PRIOR TO THE 2024 ANNUAL MEETING BY
DELIVERING A WRITTEN NOTICE OF REVOCATION OR A LATER DATED PROXY FOR THE 2024 ANNUAL MEETING OR BY VOTING IN PERSON AT THE 2024 ANNUAL
MEETING.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>Your vote is important,
no matter how many shares of Common Stock you own. We urge you to sign, date, and return the enclosed WHITE universal proxy card or voting
instruction form today to vote FOR the election of the Politan Nominees and in accordance with the Politan Parties&rsquo; recommendations
on the other proposals on the agenda for the 2024 Annual Meeting.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px">&nbsp;</TD>
    <TD STYLE="width: 48px; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If your
    shares of Common Stock are registered in your own name, please sign and date the enclosed <B>WHITE</B> universal proxy card and return
    it to Politan c/o D.F.&nbsp;King&nbsp;&amp; Co.,&nbsp;Inc., 48 Wall Street, New York, New York 10005 (&ldquo;D.F. King&rdquo;) in
    the enclosed envelope today.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If your
    shares of Common Stock are held in a brokerage account you are considered the beneficial owner of the shares of Common Stock, and
    these proxy materials, together with a <B>WHITE</B> voting instruction form, are being forwarded to you by your broker. As a beneficial
    owner, if you wish to vote, you must instruct your broker how to vote. Your broker cannot vote your shares of Common Stock on your
    behalf without your instructions.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Depending
    upon your broker, you may be able to vote either by toll-free telephone or by the Internet. Please refer to the enclosed voting form
    for instructions on how to vote electronically. You may also vote by signing, dating and returning the enclosed voting form.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As we are using a &ldquo;universal&rdquo;
proxy card containing both of the Politan Nominees as well as the Company&rsquo;s nominees, there is no need to use any other proxy card
regardless of how you intend to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>The
</B></FONT><B>Politan Parties strongly urge you NOT to sign or return any universal proxy cards or voting instruction forms that you
may receive from Masimo. If you return the gold management proxy card marked &ldquo;withhold&rdquo; as a protest against the incumbent
directors, it will revoke any proxy card you may have sent to us previously.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border: Black 1pt solid; width: 100%">
  <TR>
    <TD STYLE="padding: 5pt 6.25pt; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>If you have any questions, require assistance
    in voting your <B>WHITE universal proxy card or voting instruction form</B>,</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>or need additional copies of Politan&rsquo;s
    proxy materials,</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>please contact D.F. King using the contact
    information provided here:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>D.F.&nbsp;King&nbsp;&amp; Co.,&nbsp;Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>48 Wall Street</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10005</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Stockholders call toll-free: (888) 628-8208</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Banks and Brokers call: (212) 269-5550</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>By Email: <U>MASI@dfking.com</U></B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BACKGROUND OF THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The following is a chronology
of events leading up to this proxy solicitation:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            August&nbsp;16, 2022, Politan filed a Schedule 13D publicly disclosing beneficial ownership
                                            of approximately 8.4% of the Company&rsquo;s then outstanding Common Stock. Politan made
                                            no public statements other than the Schedule 13D filing.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Mr.&nbsp;Kiani
                                            agreed to meet Mr.&nbsp;Koffey for the first time on September&nbsp;2, 2022. Shortly thereafter
                                            on September&nbsp;9, 2022, the Company filed a Form&nbsp;8-K announcing that the Board had
                                            (i)&nbsp;approved a Rights Agreement (a &ldquo;poison pill&rdquo;) and (ii)&nbsp;amended
                                            and restated the Company&rsquo;s bylaws to add new requirements for the nomination and election
                                            of directors by Stockholders that imposed highly burdensome requirements on investment fund
                                            Stockholders seeking to nominate directors (the &ldquo;Bylaw Amendments&rdquo; and the Company&rsquo;s
                                            restated bylaws, the &ldquo;Third Amended and Restated Bylaws&rdquo;). In the following months,
                                            Politan and its counsel privately tried to persuade the Company to rescind the Bylaw Amendments
                                            and modify the Company&rsquo;s employment agreement with Mr.&nbsp;Kiani (as amended, the
                                            &ldquo;Employment Agreement&rdquo;). Ultimately, on October&nbsp;21, 2022, Politan filed
                                            a complaint in the Delaware Court of Chancery (the &ldquo;Court of Chancery&rdquo;) against
                                            the Company and the Board to invalidate the Bylaw Amendments and certain provisions in the
                                            Employment Agreement. Following extensive motion practice and discovery requests, including
                                            the Company attempting to subpoena Politan&rsquo;s investors, the Court of Chancery issued
                                            several rulings in favor of Politan. Masimo then repealed the Bylaw Amendments and Mr.&nbsp;Kiani
                                            agreed to modifications in the Employment Agreement that allowed a majority of the Board
                                            to turn over in 2023 and 2024 without triggering a payment to Mr.&nbsp;Kiani. The judge noted
                                            that &ldquo;Politan blew this case out of the water.&rdquo; He further stated that &ldquo;[t]here
                                            should be zero doubt, however, that the repeal of the challenged advance notice bylaw provisions
                                            here had remarkable value and was, frankly, an extraordinary corporate benefit.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;1, 2023, Politan nominated Michelle Brennan and Quentin Koffey for election to the
                                            Board at the 2023 Annual Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            Friday, June&nbsp;23, 2023, preliminary vote totals indicated that Politan&rsquo;s nominees
                                            would both be elected to the Board at the upcoming Monday&rsquo;s 2023 Annual Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            Saturday, June&nbsp;24, 2023, the Board met to delegate authority to Mr.&nbsp;Kiani to pursue
                                            and carry out a sale of the entire Company without any obligation to provide process updates
                                            to the Board or to obtain any additional Board approvals to retain financial or other advisors.
                                            The Board also concurrently made determinations about the Lead Independent Director and committee
                                            assignments. To date, Ms.&nbsp;Brennan and Mr.&nbsp;Koffey have only been provided redacted
                                            minutes from this Board meeting. This Board decision occurred before the 2023 Annual Meeting
                                            without the knowledge or involvement of Ms.&nbsp;Brennan and Mr.&nbsp;Koffey, despite it
                                            having at that point been clear that they would almost certainly be elected to the Board
                                            in just two days. In fact, Ms.&nbsp;Brennan and Mr.&nbsp;Koffey did not even receive a substantive
                                            update about the process until the first in-person Board meeting, which occurred on October&nbsp;31,
                                            2023&mdash;more than four months after Mr.&nbsp;Kiani had started the sale process.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">At no point in 2023 after the June&nbsp;Board
meeting was the Board ever presented with any strategic options other than a full Company sale. By late October, Mr.&nbsp;Kiani had already
engaged financial advisors, contacted multiple financial sponsors and held multiple discussions in connection with a Company sale. Ultimately
in January&nbsp;2024, Mr.&nbsp;Kiani told the full Board that he was unable to find a deal on what he considered to be satisfactory terms.
To date, the 2023 Newly-Elected Directors have still not been told what terms Mr.&nbsp;Kiani was seeking in the transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            Monday, June&nbsp;26, 2023, the Company held the 2023 Annual Meeting at which the Stockholders
                                            elected the 2023 Newly-Elected Directors to replace two incumbent directors.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Promptly
                                            after the 2023 Annual Meeting, and regularly thereafter, the 2023 Newly-Elected Directors
                                            requested the opportunity to meet and speak with senior management, to receive and analyze
                                            information about the Company and its financial condition and operations, and to participate
                                            in other customary onboarding and orientation activities for new Board members. The Politan
                                            Parties believe that the Company failed to properly act on these requests. The 2023 Newly-Elected
                                            Directors believed that the absence of a customary onboarding made it difficult for them
                                            to engage in certain Board functions, such as review of regular disclosures to investors.
                                            The following is an illustrative set of examples of the challenges the 2023 Newly-Elected
                                            Directors faced in attempting to exercise oversight over the Company&rsquo;s operations:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">In
                                            an effort to facilitate a more collaborative boardroom dynamic, on August&nbsp;28, 2023,
                                            Politan, through counsel, informed Masimo that it and the California State Teachers' Retirement
                                            System intended to drop the Court of Chancery action regarding the Employment Agreement without
                                            prejudice. The 2023 Newly-Elected Directors met Mr.&nbsp;Kiani in person on Friday, September&nbsp;1,
                                            2023 (the day before Labor Day weekend, when the Company headquarters was nearly empty).
                                            They received an overview of Mr.&nbsp;Kiani&rsquo;s vision for the Company and toured the
                                            Company&rsquo;s discovery lab. They did not meet any other members of senior management.
                                            This was the sole onboarding that Ms.&nbsp;Brennan and Mr.&nbsp;Koffey received other than
                                            receiving prior Board books and Board meeting minutes. Notably, the Board books contained
                                            barely any financial information beyond the earnings presentations posted on the Company&rsquo;s
                                            website.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">When
                                            the Audit Committee was asked to sign off on the Quarterly Report on Form&nbsp;10-Q for the
                                            second and third quarter of 2023 and first quarter of 2024, Mr.&nbsp;Koffey declined in each
                                            case to do so, believing that, despite the numerous requests, he had not received sufficient
                                            financial and operational information regarding the Company to fully evaluate the information
                                            and analysis presented in the report.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            February&nbsp;26, 2024, the Board met to discuss and finalize the Company&rsquo;s Annual
                                            Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;30, 2023 (the &ldquo;2023
                                            Annual Report&rdquo;). The Company&rsquo;s management team discussed a draft of the 2023
                                            Annual Report with the Board, but following such discussion, <I>a majority of the independent
                                            directors</I> of the Board were unwilling to sign the 2023 Annual Report until additional
                                            information that the 2023 Newly-Elected Directors had repeatedly requested was provided.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            February&nbsp;27, 2024, the Board reconvened to discuss the 2023 Annual Report in advance
                                            of the filing deadline. In one hour, brief presentations were made by the heads of Finance&nbsp;&amp;
                                            Accounting, Cybersecurity, Compliance, Quality, and Supply Chain. This was the first time
                                            that the full Board heard from these groups. The 2023 Newly-Elected Directors believed there
                                            was insufficient time for questions. At the conclusion of the management presentations, a
                                            majority of the Board signed the 2023 Annual Report, but the 2023 Newly-Elected Directors
                                            remained unwilling to approve the document given what they viewed as the extremely abbreviated
                                            nature of the presentations on important topics that raised concerns and about which there
                                            was not time for discussion or questions.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">In
                                            late 2023, the 2023 Newly-Elected Directors began asking to see a draft budget for FY 2024
                                            so that the Board could review and comment prior to being asked for their approval. They
                                            were informed that no budget approval was required. The only budget information the 2023
                                            Newly-Elected Directors were ever subsequently given was the same financial guidance provided
                                            publicly to the market. No draft or final budget was ever provided to the Board. The Board
                                            never approved a budget or even had the opportunity to provide input.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">The
                                            Company purchased the consumer technology company Sound United for approximately $1.024 billion
                                            in 2022 and it subsequently experienced a significant deterioration in business performance.
                                            The Company&rsquo;s 2023 Annual Report disclosed a $10 million impairment with respect to
                                            the Sound United business segment (less than 1% of the purchase price). As a member of the
                                            Audit Committee, Mr.&nbsp;Koffey asked to review the impairment analysis multiple times.
                                            To date, he has never been able to review the Company&rsquo;s impairment analysis and does
                                            not know why only $10 million of impairment has been taken.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">Following
                                            the dramatic decline in sales during the second quarter of 2023, the 2023 Newly-Elected Directors
                                            asked to speak with the head of U.S. sales for the Company&rsquo;s professional healthcare
                                            business. To date, they have never been able to speak with such executive and therefore have
                                            not been able to adequately learn about the discounting and bulk orders whose discontinuation
                                            appear to have dramatically impacted sales starting in the second quarter of 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">Following
                                            the dramatic decline in sales in the consumer division, the 2023 Newly-Elected Directors
                                            asked to speak with the head of the Company&rsquo;s consumer division. To date, they have
                                            never been able to speak with such executive other than to hear him present for approximately
                                            half an hour at a February&nbsp;2024 Board meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">From
                                            when they first joined the Board and repeated regularly thereafter, the 2023 Newly-Elected
                                            Directors asked to have onboarding sessions with the Company&rsquo;s heads of quality, compliance,
                                            and regulatory divisions. To date, they have not been granted an opportunity to speak with
                                            any of them, other than the single abbreviated evening session on February&nbsp;27, 2024
                                            on the eve of signing the 2023 Annual Report.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">From
                                            when they first joined the Board and regularly thereafter, the 2023 Newly-Elected Directors
                                            have asked for any currently existing and available market studies, product roadmaps, or
                                            business cases for products sold by the Company in order to understand why certain products
                                            were launched. To be clear, the 2023 Newly-Elected Directors did not ask management to create
                                            work products but rather asked management to pass along to the directors any already existing
                                            analysis that management had reviewed when making decisions to develop and launch products.
                                            To date, the 2023 Newly-Elected Directors have never seen any such materials.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">From
                                            when they first joined the Board and regularly thereafter, the 2023 Newly-Elected Directors
                                            asked for information on research and development (&ldquo;R&amp;D&rdquo;) spending so they
                                            could understand how much was being spent on what initiatives. To date, they have never received
                                            any information on R&amp;D beyond the publicly disclosed consolidated R&amp;D number disclosed
                                            in the Company&rsquo;s quarterly reports and 2023 Annual Report. The 2023 Newly-Elected Directors
                                            made similar requests about cost of goods sold and selling, general, and administrative expenses
                                            and have similarly received no more detailed information than what has been publicly disclosed
                                            in the Company&rsquo;s quarterly reports and 2023 Annual Report.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">As
                                            detailed below, the 2023 Newly-Elected Directors have consistently made requests to learn
                                            about the separation process that the Company&rsquo;s management is currently pursuing. Only
                                            following a formal request under Delaware law was such basic information as the name of the
                                            joint venture partner provided to the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Prior
                                            to the 2023 Annual Meeting, from mid-February&nbsp;through March&nbsp;2023, the Board interviewed
                                            Rolf A. Classon and Robert A. Chapek. The majority of the Board later added each of them
                                            to the Board in November&nbsp;2023 and January&nbsp;2024, respectively.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">In
                                            August&nbsp;and September&nbsp;of 2023, Mr.&nbsp;Kiani and Eli Kammerman, Head of Investor
                                            Relations at the Company, made multiple public statements regarding the search for new directors
                                            which Politan believes were misleading. For example, on August&nbsp;8, 2023, Mr.&nbsp;Kiani
                                            noted that the Nominating Committee was &ldquo;starting a little bit from scratch&rdquo;
                                            on a search for new directors. On September&nbsp;8, 2023 Mr.&nbsp;Kammerman stated: &ldquo;the
                                            Board has a new head of the Nominating Committee, that's Craig Reynolds, one of&nbsp;the
                                            legacy Board members. And it also has a new member on that committee, Michelle&nbsp;Brennan,
                                            one of the people elected back in June. That committee is&nbsp;now engaged in&nbsp;evaluation
                                            and screening of potential new members. And as Joe Kiani said in our second quarter earnings
                                            call they&rsquo;re working to get seats number six and number seven filled as soon as possible.&rdquo;
                                            Yet at the time of these statements, the Nominating Committee had never even met once since
                                            the 2023 Annual Meeting. Further, the search firm that had been engaged by the Board to conduct
                                            a director candidate search was on hold and not reaching out to new director candidates.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            November&nbsp;3, 2023 the Board appointed Mr.&nbsp;Classon as a Class&nbsp;II director, over
                                            the objections of the 2023 Newly-Elected Directors, who believed there was a total absence
                                            of a legitimate search process. The appointment of Mr.&nbsp;Classon had not been included
                                            in the agenda for the Board meeting. As noted above, the Board had previously interviewed
                                            Mr.&nbsp;Classon as a potential director in February&nbsp;and March&nbsp;of 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            January&nbsp;15, 2024, the Board appointed Mr.&nbsp;Chapek as a Class&nbsp;I director, over
                                            the objections of the 2023 Newly-Elected Directors, who believed there was a total absence
                                            of a legitimate search process. Mr.&nbsp;Kiani referred Mr.&nbsp;Chapek to the Board as a
                                            director candidate, and, as noted above, the Board had previously interviewed Mr.&nbsp;Chapek
                                            as a potential director in the first quarter of 2023.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Mr.&nbsp;Chapek was added to the same
director class as Ms.&nbsp;Brennan and Mr.&nbsp;Koffey, the class with the longest term remaining before re-election at the 2026 annual
meeting of Stockholders. Mr.&nbsp;Koffey voiced concerns that the Company was depriving Stockholders of the opportunity to evaluate and
vote on Mr.&nbsp;Chapek&rsquo;s nomination at the earliest reasonably practicable time, which would be the 2024 Annual Meeting. Consequently,
Mr.&nbsp;Koffey believed that Mr.&nbsp;Chapek should have been appointed as a Class&nbsp;II director and be up for election at the 2024
Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Beginning
                                            in January&nbsp;2024, Mr.&nbsp;Koffey and Mr.&nbsp;Kiani began preliminary discussions regarding
                                            potential strategic options for the Company.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            January&nbsp;29, 2024, Mr.&nbsp;Kiani noted at a dinner with Mr.&nbsp;Koffey that his efforts
                                            to sell the Company on terms he found satisfactory had not materialized. Mr.&nbsp;Koffey
                                            made clear that Politan was strongly considering nominating director candidates for election
                                            at the 2024 Annual Meeting, given his frustration with the lack of meaningful engagement
                                            with the full Board since the 2023 Annual Meeting. Mr.&nbsp;Kiani proposed the Company purchase
                                            Politan&rsquo;s shares in the Company at a substantial premium in exchange for Politan agreeing
                                            to not purchase more shares and to never run a proxy contest in the future. Mr.&nbsp;Koffey
                                            flatly rejected this idea.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Mr.&nbsp;Kiani then revived the idea
proposed by Politan nearly a year earlier to separate the consumer business from the rest of the Company. Mr.&nbsp;Kiani proposed leaving
Masimo and heading the separated consumer-focused company on the condition that he controlled that company and that his departure not
be considered a resignation (and therefore result in forfeiture of certain compensation) under the terms of his Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            January&nbsp;30, 2024, Mr.&nbsp;Koffey met with Mr.&nbsp;Kiani to further explore the proposed
                                            separation of the consumer business subject to the conditions Mr.&nbsp;Kiani had earlier
                                            raised and a commitment from Politan to forego nominating any director candidates during
                                            separation discussions. Mr.&nbsp;Koffey stated that as a single director on the Board, he
                                            was not in a position to negotiate or agree to Mr.&nbsp;Kiani&rsquo;s requests and suggested
                                            that it would be advisable for the whole Board to consider forming a special committee to
                                            negotiate the separation given the related party issues.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">The
                                            next day, Mr.&nbsp;Koffey&rsquo;s counsel sent a summary of initial, high-level terms to
                                            serve as a basis for discussion between a Board special committee once formed and Mr.&nbsp;Kiani
                                            with respect to the proposed separation. Mr.&nbsp;Kiani&rsquo;s counsel responded on February&nbsp;3,
                                            2024 with a substantially revised term sheet that significantly expanded on Mr.&nbsp;Kiani&rsquo;s
                                            earlier positions. Mr.&nbsp;Kiani&rsquo;s demands at this stage included: that the Company&rsquo;s
                                            corporate headquarters and corporate jet be included in the spun off assets; that the Company
                                            contribute up to $150 million in cash plus working capital to the new consumer entity; that
                                            the new entity have a class of 20:1 supermajority voting stock that would confer majority
                                            voting control to Mr.&nbsp;Kiani, granted to him without additional consideration; that the
                                            new entity be incorporated in Nevada; that Mr.&nbsp;Kiani&rsquo;s departure to head the consumer
                                            business result in the immediate acceleration and pay out of the Special Payment in his Employment
                                            Agreement; that Mr.&nbsp;Kiani be Executive Chairman of the new entity but that a chief executive
                                            officer would also be selected and compensated; that certain unspecified intellectual property
                                            of the Company be shared or licensed between the Company and the new consumer entity; and
                                            that Mr.&nbsp;Kiani receive additional compensation to serve as a special advisor to the
                                            Company. Mr.&nbsp;Kiani later informed the Board verbally that he wanted the consumer business
                                            to take the name &ldquo;Masimo&rdquo; and that the remaining (historical) business of the
                                            Company should be renamed. Mr.&nbsp;Koffey responded with a call to Mr.&nbsp;Kiani again
                                            noting he was not in a position to negotiate or agree to the terms proposed by his counsel
                                            and reiterated that the Board should form a special committee to negotiate such a related
                                            party transaction with him. Mr.&nbsp;Kiani stated that he understood that there was no agreement,
                                            but that he wanted it to be clear what his requests were and he agreed to have the Board
                                            form a special committee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            February&nbsp;13, 2024, the Board formed a special committee comprised of directors who represented
                                            a majority of the Board (the &ldquo;Special Committee&rdquo;) to evaluate related party aspects
                                            of the separation, including those relating to intellectual property, trademark use, governance
                                            control and other matters. The Special Committee consisted of Ms.&nbsp;Brennan, Mr.&nbsp;Classon,
                                            Mr.&nbsp;Koffey and Mr.&nbsp;Reynolds, and was empowered to evaluate and negotiate the separation
                                            of the consumer business and explore alternative transactions. The Special Committee unanimously
                                            decided to retain Sullivan&nbsp;&amp; Cromwell LLP to serve as its legal counsel, engaged
                                            Centerview Partners LLC to serve as its financial advisor and selected Mr.&nbsp;Koffey as
                                            its chairman. The Special Committee subsequently met regularly from mid-February&nbsp;through
                                            March&nbsp;of 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            March&nbsp;11, 2024 the Special Committee unanimously agreed to send a revised term sheet
                                            that rejected the terms that Mr.&nbsp;Kiani had proposed and instead reflected the Special
                                            Committee&rsquo;s independent position on the separation transaction to Mr.&nbsp;Kiani.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">The term sheet proposed an independent,
external advisory process to assist the Special Committee in determining the perimeter of intellectual property transfer and licensing.
The scope and duration of key intellectual property licenses between the two companies would be highly material to any transaction, and
if handled improperly, could result in a significant valuation impairment to the legacy healthcare business as well as give the consumer
products business significant advantages and influence over the legacy healthcare business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">On
                                            March&nbsp;12, 2024, Mr.&nbsp;Kiani called Mr.&nbsp;Koffey and said that he would seek to
                                            dissolve the Special Committee. The Special Committee was later dissolved by the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            March&nbsp;20, 2024, the Company entered into a confidentiality agreement with a potential
                                            joint venture partner in connection with the separation of the consumer business. The full
                                            Board knew nothing about the existence of the joint venture partner or any discussions that
                                            had occurred. The full Board was never notified that a confidentiality agreement had been
                                            entered into or that any confidential information had been exchanged until nearly eight weeks
                                            later on May&nbsp;13, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">After Mr.&nbsp;Koffey informed the
Company that the Politan Parties would be nominating candidates at the 2024 Annual Meeting, on March&nbsp;22, 2024, the Board approved
a press release announcing that the Board had authorized management to evaluate the separation and the expectation that Mr.&nbsp;Kiani
would remain Chairman and Chief Executive Officer of the Company <I>and</I> be named chairman of the newly separated company. The full
Board did not receive a draft of the press release until the Board meeting had commenced, and the meeting agenda made no mention of a
vote on any matter, let alone authorizing management to evaluate the separation of the consumer business. The press release was approved
over the objections of the 2023 Newly-Elected Directors. Neither the Special Committee nor its advisors were shown the draft release
prior to its being presented to the Board and its issuance. Furthermore, the full Board remained unaware that a joint venture proposal
was being considered by management in lieu of a spin-off. The full Board was also unaware that discussions with a potential joint venture
partner were occurring and that the confidentiality agreement with such party had been signed the previous week. At this same Board meeting,
Mr.&nbsp;Kiani stated that he would pursue the same separation of the consumer business that the Special Committee had rejected, but
would not need to purchase control of the new entity and could therefore dissolve the Special Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            March&nbsp;25, 2024, the Politan Parties, through counsel, submitted to the Company a notice
                                            nominating William Jellison and Darlene Solomon for election as independent Class&nbsp;II
                                            directors at the 2024 Annual Meeting. Neither Mr.&nbsp;Jellison nor Dr.&nbsp;Solomon have
                                            any pre-existing relationship with Politan or any of Masimo&rsquo;s Board members and were
                                            identified via a nationally recognized search firm. The Politan Parties believe that the
                                            Politan Nominees will bring crucial expertise and an independent perspective that is sorely
                                            needed on the Board. In disclosing their nominees, the Politan Parties also announced their
                                            support of a strategic review of the separation of the consumer business, while also noting
                                            that they have &ldquo;serious concerns given the lack of basic governance and oversight we
                                            have observed since joining the Board.&rdquo; The Politan Parties also stated that they have
                                            &ldquo;serious concerns that Mr.&nbsp;Kiani, without proper oversight, will seek to push
                                            through a spin-off with poor corporate governance and intellectual property arrangements
                                            where assets are allocated in such a manner designed to maintain his control and influence
                                            of both separated companies.&rdquo;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The release specifically stated that
the two highly qualified Politan Nominees could be added to the Board immediately, without undertaking a costly and distracting proxy
contest and without removing any of the then-incumbent directors, including Mr.&nbsp;Kiani.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">&nbsp;</TD>
<TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Also
                                            on March&nbsp;25, 2024, members of the full Board learned for the first time through Mr.&nbsp;Kiani&rsquo;s
                                            interviews with the media that the Company had been approached by a potential joint venture
                                            partner in the consumer business. As reported in the <I>Wall Street Journal</I>, Mr.&nbsp;Kiani
                                            stated &ldquo;the company&hellip;has been approached by a potential partner&hellip;a joint
                                            venture would likely be much faster.&rdquo;<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1
                                            </SUP></FONT>Mr.&nbsp;Kiani repeated these comments in a television interview on CNBC later
                                            that day, noting that &ldquo;over the weekend, we&rsquo;ve been discussing with a group that
                                            came forward after they saw our announcement&hellip; maybe we do a joint venture with them.&rdquo;
                                            As noted above, at the time of the Mr.&nbsp;Kiani&rsquo;s commentary, the full Board had
                                            not yet been told of the existence of a potential joint venture partner or that such joint
                                            venture partner had already signed a non-disclosure agreement on March&nbsp;20, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Despite multiple requests after the
public disclosure of the joint venture partner&rsquo;s existence, Mr.&nbsp;Kiani refused to disclose the identity of the potential joint
venture partner to the full Board until after Mr.&nbsp;Koffey demanded that information by exercising his rights as a director under
Section&nbsp;220 of the Delaware General Corporation Law (the &ldquo;DGCL&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            March&nbsp;26, 2024, Mr.&nbsp;Koffey on behalf of Politan wrote to the Board to advocate
                                            that the Company should not take any actions prior to the 2024 Annual Meeting that could
                                            negatively impact shareholder election rights. The Company&rsquo;s legacy classified Board
                                            structure meant that it was fundamental for Stockholders to be able to contest sequential
                                            annual elections.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            April&nbsp;2, 2024, Politan and the Company entered into a framework agreement containing
                                            certain use and confidentiality restrictions in connection with the Board&rsquo;s proposed
                                            discussions with the Politan Nominees. In the weeks that followed, the Politan Nominees individually
                                            met with members of the Board, including Mr.&nbsp;Kiani.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            April&nbsp;4, 2024, Mr.&nbsp;Reynolds, Mr.&nbsp;Classon and Mr.&nbsp;Chapek called Mr.&nbsp;Koffey
                                            to propose a settlement arrangement to the proxy contest: in return for agreeing to add Mr.&nbsp;Jellison
                                            and Dr.&nbsp;Solomon to the Board, the three directors proposed that Politan agree that Mr.&nbsp;Kiani
                                            would resign as Chief Executive Officer of the Company and assume the role of Executive Chairman
                                            of a new entity holding the consumer business that would in the separation take the corporate
                                            headquarters and jet, $150 million in cash, a full acceleration and payment of Mr.&nbsp;Kiani&rsquo;s
                                            special payment under his Employment Agreement (of approximately $400 million at the time),
                                            the pre-selection of Mr.&nbsp;Kiani&rsquo;s preferred law firm Knobbe, Martens, Olson&nbsp;&amp;
                                            Bear to represent the Board in the separation of the Company&rsquo;s intellectual property,
                                            and Politan&rsquo;s abandonment of any remaining challenges in the Court of Chancery to Mr.&nbsp;Kiani&rsquo;s
                                            compensation arrangement. Mr.&nbsp;Koffey declined to agree to these terms given the restrictions
                                            they could impose on the independence of the Board and the potential impact they could have
                                            on long-term shareholder value, especially the lack of independent oversight of the separation
                                            of the Company&rsquo;s intellectual property.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            April&nbsp;25, 2024, in advance of the April&nbsp;30, 2024 Board meeting, Mr.&nbsp;Koffey
                                            became aware that Company management was seeking to enter into a binding agreement regarding
                                            the sale/joint venture of the consumer business in June&nbsp;2024 and therefore prior to
                                            the annual meeting, which was proposed for the end of July.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>1</SUP></FONT>
Ben Glickman, <I>Masimo May Look at Joint Venture for Consumer Split, CEO Says</I>, WALL ST. J. (March 25, 2024, 1:59 PM), https://www.wsj.com/business/masimo-may-look-at-joint-venture-for-consumer-split-ceo-says-1e0f2b4c.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Also
                                            on April&nbsp;25, 2024, Mr.&nbsp;Koffey emailed the Company&rsquo;s Corporate Secretary to
                                            propose that items be added to the agenda at the next Board meeting, including the following:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">that
                                            the Company hold its annual meeting earlier in the year than the proposed July&nbsp;25, 2024
                                            date (which would fall approximately thirteen months after the 2023 Annual Meeting and was
                                            therefore the latest permissible day under Delaware law and the Bylaws), which timing of
                                            the meeting in July&nbsp;was outside the Company&rsquo;s historical practice;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">that
                                            the Company would not enter into any binding agreements or joint ventures relating to the
                                            separation of the consumer business until after the conclusion of the 2024 Annual Meeting;
                                            and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">o</FONT></TD><TD STYLE="text-align: justify">that
                                            Mr.&nbsp;Kiani and Mr.&nbsp;Reynolds switch director classes such that Mr.&nbsp;Reynolds
                                            be nominated as a Class&nbsp;II director nominee up for election at the 2024 Annual Meeting
                                            and Mr.&nbsp;Kiani become a Class&nbsp;III director up for election at the 2025 Annual Meeting.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">Mr.&nbsp;Koffey contended that this
director class realignment proposal would have the benefit of allowing Mr.&nbsp;Kiani to remain on the Board even if the proxy contest
with Politan were to continue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            April&nbsp;29, 2024, the Company disclosed that 2,972,778 shares of Common Stock<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>2
                                            </SUP></FONT>(valued at the time at roughly $400 million and representing nearly 6% of the
                                            Common Stock outstanding) beneficially owned by Mr.&nbsp;Kiani had been pledged as collateral
                                            for personal loans, which total was more than seven times the 400,000 shares that were disclosed
                                            as pledged before the 2023 Annual Meeting and was approximately 75% of his stock ownership.
                                            The full Board only learned about this increased pledge when the draft of the April&nbsp;29,
                                            2024 filing was circulated to the Board a few days earlier and no additional information
                                            about the pledge was ever provided. The current Compensation Committee never voted to approve
                                            Mr.&nbsp;Kiani&rsquo;s increase in pledged shares.<FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>3
                                            </SUP></FONT>The proxy statement filed by the Company in connection with the 2024 Annual
                                            Meeting (as amended, the &ldquo;Company Proxy Statement&rdquo;) disclosed that Mr.&nbsp;Kiani
                                            &ldquo;sought and received the approval of the Compensation Committee prior to entering into
                                            this transaction [<I>i.e.</I>, the personal loan] in 2013&rdquo;. Other than the public disclosures,
                                            members of the current Board do not know the purpose for which Mr.&nbsp;Kiani&rsquo;s shares
                                            are pledged or what the terms of the pledge entail, including the ways in which Mr.&nbsp;Kiani
                                            could liquidate the shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            April&nbsp;30, 2024, the Board met and voted, over the objections of the 2023 Newly-Elected
                                            Directors, to reject Mr.&nbsp;Koffey&rsquo;s proposals made in writing to the Company&rsquo;s
                                            Corporate Secretary on April&nbsp;25, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&nbsp;</TD>
    <TD STYLE="width: 24px; font-size: 10pt"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Also on April&nbsp;30, 2024, the full Board was informed, for the first time, that the Company had, nearly six weeks earlier, received a civil investigative demand from the Department of Justice and a subpoena from the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on March&nbsp;25, 2024 and March&nbsp;26, 2024, respectively. The Company later publicly disclosed this information on May&nbsp;7, 2024, in the Company&rsquo;s Quarterly Report on Form&nbsp;10-Q (the &ldquo;Q1 2024 10-Q&rdquo;).</FONT></TD></TR>
  </TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>2
</SUP></FONT>The Company Proxy Statement later disclosed this number had dropped to 2,447,778, p. 73, which is still more than six times
the amount disclosed prior to the 2023 Annual Meeting.</P>

<P STYLE="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><SUP>3</SUP> Company Proxy Statement, p. 65 (&ldquo;In addition, all
pledging of our equity securities by our executive officers and members of our Board must be pre-approved by the Compensation Committee...&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Also
                                            on April&nbsp;30, 2024, the Board resolved to set the date of the Company&rsquo;s 2024 annual
                                            meeting of stockholders as July&nbsp;25, 2024 and the record date for such meeting as June&nbsp;13,
                                            2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;2, 2024, Mr.&nbsp;Koffey sent a letter to Mr.&nbsp;Kiani to express his concerns
                                            with the Board&rsquo;s approach to the separation of the consumer business. Among other things,
                                            Mr.&nbsp;Koffey requested the identity of the potential joint venture partner and information
                                            about the status of negotiations and terms. Mr.&nbsp;Kiani later responded on May&nbsp;8,
                                            2024, declining to provide such basic information as even the identity of the joint venture
                                            partner, which prompted Mr.&nbsp;Koffey, in his capacity as a member of the Board, to submit
                                            that same day a books and records request pursuant to Section&nbsp;220 of the DGCL, regarding
                                            the potential separation (the &ldquo;Koffey Records Request&rdquo;).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Two
                                            weeks later, on May&nbsp;16, 2024, the Board was for the first time provided with the name
                                            of the joint venture partner. In addition, the Board was provided with an executed non-binding
                                            term sheet between the Company and the joint venture partner. The Company Proxy Statement
                                            erroneously states that the term sheet was &ldquo;proposed&rdquo;; however, the term sheet
                                            had already been executed by Mr.&nbsp;Kiani and the joint venture partner a week earlier
                                            on May&nbsp;7, 2024, without the knowledge of the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">The Company and a director aligned
with Mr.&nbsp;Kiani made separate books and records requests of Mr.&nbsp;Koffey regarding the proposed separation, which Mr.&nbsp;Koffey
believes to be retaliatory and inappropriate. On June&nbsp;11, 2024, the Company demanded that Mr.&nbsp;Koffey turn over his personal
and business emails and texts regarding the potential separation, and on June&nbsp;13, 2024, Mr.&nbsp;Reynolds requested from Mr.&nbsp;Koffey
materials including those related to the Special Committee&rsquo;s work. Mr.&nbsp;Koffey&rsquo;s counsel wrote to the Company&rsquo;s
counsel on June&nbsp;17, 2024: &ldquo;instead of providing Mr.&nbsp;Koffey with even basic information about the Potential Transactions,
the Company (aided by a director aligned with Joe Kiani), through the Reynolds Demand, has demanded that Mr.&nbsp;Koffey produce his
emails and text messages regarding the Special Committee process, including privileged communications with counsel to the Special Committee
and communications among independent directors reflecting their views of Mr.&nbsp;Kiani&rsquo;s negotiating positions.&rdquo; Mr.&nbsp;Koffey,
through counsel, said that although he believed the requests were retaliatory in nature and that neither the Company nor Mr.&nbsp;Reynolds
had the authority to demand the information requested from him, he would provide such materials (which are limited, given the extremely
small amount of information he had received from the Company at the time) to the independent directors so long as the independent directors
committed not to share them with management. On June&nbsp;19, 2024, the Company produced a batch of materials to Mr.&nbsp;Koffey relating
to the Koffey Records Request, and at the time of the filing of this Proxy Statement, those materials were under review.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;6, 2024, in a phone call with Mr.&nbsp;Koffey, Mr.&nbsp;Reynolds communicated that
                                            the Company was prepared to appoint Mr.&nbsp;Jellison to the Board as a Class&nbsp;II director
                                            in exchange for Politan withdrawing Dr.&nbsp;Solomon&rsquo;s nomination and ending its proxy
                                            contest. The next day, Mr.&nbsp;Reynolds informed Mr.&nbsp;Koffey in a text message that
                                            Mr.&nbsp;Koffey had to respond by email to the proposal by 4:00 p.m.&nbsp;Eastern Time on
                                            May&nbsp;7, 2024 (less than 24 hours after Mr.&nbsp;Reynolds first relayed the terms).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;8, 2024, the Company announced the resignation of Mr.&nbsp;Classon as a director,
                                            effective May&nbsp;10, 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;9, 2024, Mr.&nbsp;Reynolds, in his capacity as the lead independent director of
                                            the Board, sent a letter, which he promptly made public, to Mr.&nbsp;Koffey in which Mr.&nbsp;Reynolds
                                            proposed appointing Mr.&nbsp;Jellison to the Board in exchange for Politan withdrawing Dr.&nbsp;Solomon&rsquo;s
                                            nomination and ending its proxy contest (the &ldquo;May&nbsp;9 Proposal&rdquo;). Mr.&nbsp;Koffey,
                                            on behalf of Politan, responded in a letter that same day to Mr.&nbsp;Reynolds, stating that
                                            the May&nbsp;9 Proposal &ldquo;falls well short of resolving the fundamental governance problems
                                            at Masimo, while simultaneously introducing others.&rdquo; The response to the May&nbsp;9
                                            Proposal further noted that &ldquo;seating one Politan nominee will simply deadlock the Board&mdash;something
                                            broadly criticized by governance experts which would merely continue the status quo under
                                            which Mr.&nbsp;Kiani can do whatever he wants however he wants with no Board oversight&rdquo;
                                            and concluded that there is a &ldquo;straightforward and clear solution&rdquo; to Masimo&rsquo;s
                                            need for &ldquo;a majority of truly independent directors,&rdquo; specifically the appointment
                                            of both Mr.&nbsp;Jellison and Dr.&nbsp;Solomon to the Board immediately. If Mr.&nbsp;Jellison
                                            and Dr.&nbsp;Solomon were appointed, Politan stated that it would not oppose the re-election
                                            of Mr.&nbsp;Kiani to the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;15, 2024, Mr.&nbsp;Kiani was interviewed at a Bank of America Healthcare Conference
                                            and discussed the potential timing for a joint venture transaction to effect the proposed
                                            separation. Mr.&nbsp;Kiani said:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><I>&ldquo;We may have been able to
even do a JV before the shareholder meeting because the JV wants to get it done by June&nbsp;25, but right now, the activist is pushing
back, threatening litigation. So I don't want to get into a lawsuit. I'd rather wait until after the proxy to do it. Hopefully, they
won't go away. I always say the most important thing to any deal is momentum. And so I hate the fact we're going to lose momentum, and
I hope that will go away. But I thought the shareholders wanted that. And if they do, they should tell him to back off because it's threatening
to sue us if we try to do the JV before the proxy, and I don't want to do it.&rdquo;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            May&nbsp;16, 2024, at the same meeting at which the identity of the potential joint venture
                                            partner was made known to the full Board for the first time, the Board voted, over the objections
                                            of the 2023 Newly-Elected Directors, to propose Christopher G. Chavez as a nominee for election
                                            at the 2024 Annual Meeting to fill the Class&nbsp;II director position left vacant by Mr.&nbsp;Classon&rsquo;s
                                            resignation. Mr.&nbsp;Kiani had referred Mr.&nbsp;Chavez to the Board as a director candidate.
                                            The Nominating Committee had not met to discuss Mr.&nbsp;Chavez&rsquo;s nomination or consider
                                            alternative candidates. On May&nbsp;23, 2024, in an email to Mr.&nbsp;Koffey, Mr.&nbsp;Reynolds
                                            proposed appointing Mr.&nbsp;Jellison and Mr.&nbsp;Chavez to the Board, which would expand
                                            the Board to seven members, in exchange for Politan withdrawing Dr.&nbsp;Solomon&rsquo;s
                                            nomination and ending its proxy contest. Mr.&nbsp;Reynolds offered to arrange a meeting between
                                            Mr.&nbsp;Koffey and Mr.&nbsp;Chavez. Mr.&nbsp;Koffey responded by offering to meet with Mr.&nbsp;Chavez,
                                            and the two spoke for over an hour on May&nbsp;27, 2024. On May&nbsp;29, 2024, in a phone
                                            call with Mr.&nbsp;Reynolds and Mr.&nbsp;Chapek, Mr.&nbsp;Koffey stated that Politan would
                                            not support adding Mr.&nbsp;Chavez to the Board. On that same call, Mr.&nbsp;Koffey reiterated
                                            Politan&rsquo;s proposal that Mr.&nbsp;Jellison and Dr.&nbsp;Solomon be added to the Board
                                            and that Mr.&nbsp;Kiani could remain on the Board and the proxy solicitation would be over.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Also
                                            on May&nbsp;31, 2024, the Company issued a press release announcing its nomination of Mr.&nbsp;Chavez
                                            as a Class&nbsp;II director on the Board and said, &ldquo;members of the Board contacted
                                            and considered several candidates with skills and experiences that would enhance the Board&rsquo;s
                                            slate.&rdquo; As noted above, the Nominating Committee had not met or considered Mr.&nbsp;Chavez
                                            or any alternative candidates and had not nominated Mr.&nbsp;Chavez to the full Board (<I>see
                                            </I>references to the Nominating Committee and Mr.&nbsp;Chavez on May&nbsp;16, 2024, above).</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            June&nbsp;5, 2024, the Company&rsquo;s Executive Vice President and Chief Financial Officer,
                                            Micah Young, discussed the proposed separation at the Jeffries 2024 Global Healthcare Conference,
                                            including the division of intellectual property between Masimo and the proposed separated
                                            consumer business. Politan viewed these comments as unusual and premature in that they did
                                            not reflect the analysis or input of the full Board with respect to the proposed separation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">On
                                            June&nbsp;17, 2024, the Company filed the definitive version of the Company Proxy Statement
                                            with the SEC, followed by the Politan Parties&rsquo; definitive Proxy Statement filing on
                                            June&nbsp;[<FONT STYLE="font-family: Marlett"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#9679;</FONT></FONT>], 2024.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REASONS FOR THE SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan initially invested
in Masimo with the hope that we could work collaboratively with the Company to help maximize Masimo&rsquo;s significant potential and
create long-term sustainable value for Stockholders. Unfortunately, Politan&rsquo;s efforts were met almost immediately with an exceptionally
hostile response, including the adoption of defensive Bylaw Amendments designed to block Stockholder director nominations and the refusal
to constructively engage on any level. These Bylaw Amendments were later abolished following a series of losses by the Company in the
Court of Chancery (see the section entitled &ldquo;BACKGROUND OF THE SOLICITATION&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">At the 2023 Annual Meeting,
Stockholders overwhelmingly elected Politan nominees Michelle Brennan and Quentin Koffey to the Board. Following this clear mandate from
Stockholders, we were optimistic that we could engage productively with the rest of the Board to drive positive change. Instead, our
efforts were continually rebuffed. The leadership of the Board refused to provide Ms.&nbsp;Brennan and Mr.&nbsp;Koffey basic information
or access to management, repeatedly held meetings of directors excluding them, and refused to even consider allowing any review of any
aspect of strategy, product portfolio, cost structure, or capital allocation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">In March&nbsp;2024, Masimo
announced that the Board had authorized an evaluation of the separation of the consumer business. Politan supports a strategic review
to evaluate the separation of the consumer business. However, Politan has serious concerns given the lack of basic governance and oversight
Politan has observed since joining the Board. We believe that this absence of oversight has been damaging to Stockholders and the Company,
and must be remedied in order to assure Stockholders that any potential transaction, including the separation of the consumer business,
is conducted with their best interests in mind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If one or both of the Politan
Nominees are elected to the Board, among other things, they would seek to provide independent oversight of management. Together with
the 2023 Newly-Elected Directors, the Politan Nominees, if elected, would constitute a majority of the Board although neither Politan
Nominee has predetermined how they would vote on any specific matters that might be presented to the Board. Further, each Politan Nominee
was identified and contacted through a nationally recognized search firm and has no pre-existing relationship with anyone at Politan
or on the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We believe that Masimo clearly
and urgently needs a majority of truly independent directors, especially given the importance of not only ensuring the Company follows
through on its announcement to evaluate the separation of the consumer business of the consumer business, but also to make sure it is
done properly without bias or favor shown to Mr.&nbsp;Kiani. For example, in the event of a separation of the consumer business, there
would be vital considerations around the allocation of the Company&rsquo;s intellectual property and the control of a potential newly
created entity. We are concerned that Mr.&nbsp;Kiani, without proper oversight, will seek to push through the separation of the consumer
business with poor corporate governance and intellectual property arrangements where assets are allocated in such a manner designed to
maintain his own control and influence of both separated companies. Additionally, the Company&rsquo;s announcement of the separation
of the consumer business to the media in late March&nbsp;2024 while concurrently withholding information from directors underscores why
Politan believes that it is more important than ever for the Board to be comprised of a majority of truly independent directors. We believe
that the Politan Nominees will provide additional independent voices in the boardroom, bring extensive industry-related experience and
expertise to the Board and provide valuable insight on research and development, strategy, sustainability and operational challenges
faced by companies focused on commercialization of technology innovations. We believe that, together with the 2023 Newly-Elected Directors,
the Politan Nominees will help instill accountability and drive improved performance and governance &mdash; and ultimately enhanced value
for all Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL ONE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ELECTION OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company currently has a
classified Board of five directors divided into three classes. Class&nbsp;I includes three directors (Ms.&nbsp;Brennan, Mr.&nbsp;Koffey
and Mr.&nbsp;Chapek). Class&nbsp;II includes one director (Mr.&nbsp;Kiani) and, since Mr.&nbsp;Classon&rsquo;s resignation, one vacant
director position. Class&nbsp;III includes one director (Mr.&nbsp;Reynolds). The terms of the Class&nbsp;II directors are set to expire
at the 2024 Annual Meeting. The Record Stockholder nominated the Politan Nominees to replace Mr.&nbsp;Kiani and to fill the vacant Class&nbsp;II
director position formerly occupied by Mr.&nbsp;Classon. The Company nominated Mr.&nbsp;Kiani for reelection to his Class&nbsp;II director
position and Mr.&nbsp;Chavez to fill the vacant Class&nbsp;II director position formerly occupied by Mr.&nbsp;Classon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Board is in the process
of a phased declassification. From and after the 2024 Annual Meeting, the directors in each class will be elected for terms of office
of one-year, expiring at the following annual meeting of Stockholders. Following the expiration of the terms of the Class&nbsp;I directors
at the annual meeting of Stockholders in 2026, the Board will thereafter be completely declassified such that all directors will be elected
for a term of office expiring at each annual meeting of Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We are seeking your support
at the 2024 Annual Meeting to elect both Politan Nominees, William Jellison and Darlene Solomon, for terms ending at the 2025 Annual Meeting.
Assuming the Politan Nominees receive sufficient votes to be elected to the Board, your vote to elect the Politan Nominees will have the
legal effect of replacing two incumbent directors of the Company with the Politan Nominees. If elected, the Politan Nominees, together
with the 2023 Newly-Elected Directors, will represent a majority of the members of the Board. If elected, the Politan Nominees, subject
to their fiduciary duties as directors, will seek to work collaboratively with the other members of the Board to execute a strategic review
process, which is described in more detail herein. There is no assurance that any incumbent director will serve as a director if the Politan
Nominees are elected to the Board. You should refer to the Company Proxy Statement for the names, background, qualifications and other
information concerning the Company&rsquo;s nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
</FONT>Proxy Statement is soliciting proxies to elect the two Politan Nominees. As part of the Nomination and Proposal Notice, we have
provided the required notice to the Company pursuant to the universal proxy rules, including Rule&nbsp;14a-19(a)(1)&nbsp;under the Securities
Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and we intend to solicit the holders of Common Stock representing
at least 67% of the voting power of Common Stock entitled to vote on the election of directors in support of director nominees other
than the Company&rsquo;s nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>THE POLITAN NOMINEES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The following description sets
forth the name, age, business address, present principal occupation, and employment and material occupations, positions, offices or employments
for the past five years of the Politan Nominees. The nomination was made in a timely manner and in compliance with the applicable provisions
of the Company&rsquo;s governing instruments. The specific experience, qualifications, attributes and skills that led us to conclude
that the Politan Nominees should serve as directors of the Company are also set forth below. This information has been furnished to us
by the Politan Nominees. Each of the Politan Nominees is a citizen of the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>William
Jellison</B></FONT>, age 66, has over 40 years of business experience including extensive experience in the medical technology industry.
He is currently an independent business consultant and M&amp;A advisor for Astor Place Holdings and serves on the boards of Young Innovations,&nbsp;Inc.
and Avient Corporation (NYSE: AVNT), where he is an independent director, Chairman of Avient Corporation&rsquo;s Audit Committee and
is a member of the Environmental, Health and Safety Committee. Mr.&nbsp;Jellison previously served as vice president and chief financial
officer of Stryker Corporation until 2016, where he was responsible for all areas of international finance, including accounting, planning
and analysis, SEC reporting, acquisition valuations, internal audit, tax and treasury activity. Prior to Stryker Corporation, Mr.&nbsp;Jellison
spent 15 years at Dentsply International in a number of leadership positions, including Chief Financial Officer, as well as Senior Vice
President with full P&amp;L responsibilities for some of Dentsply International&rsquo;s operating divisions in the United States, Europe
and Asia. Mr.&nbsp;Jellison began his career with Donnelly Corporation where he held multiple financial management and executive positions,
including Vice President of Finance, Treasurer and Corporate Controller. On March&nbsp;6, 2024, Caligan Partners Master Fund LP (&ldquo;Caligan&rdquo;)
proposed the nomination of Mr.&nbsp;Jellison to the board of directors of Anika Therapeutics,&nbsp;Inc. (NASDAQ: ANIK) (&ldquo;Anika&rdquo;)
in connection with Anika&rsquo;s 2024 annual meeting of stockholders, the date of which Anika has yet to announce. On May&nbsp;28, 2024,
Anika and Caligan entered into a cooperation agreement pursuant to which Anika agreed to appoint Mr.&nbsp;Jellison to its board of directors
and to support Mr.&nbsp;Jellison for election at its 2024 annual meeting of stockholders. Mr.&nbsp;Jellison holds a bachelor&rsquo;s
degree in Business Administration from Hope College in Holland, Michigan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We believe that Mr.&nbsp;Jellison&rsquo;s
experience serving on other public company boards of directors, his extensive experience in the medical technology industry, his general
management experience, and his corporate strategy experience would add significant value to the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As of the date hereof, Mr.&nbsp;Jellison
does not own any securities of the Company and has not entered into any transactions in the securities of the Company during the past
two years. The principal business address of Mr.&nbsp;Jellison is 9946 W. Gull Lake Dr., Richland, Michigan 49083.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Darlene
Solomon, </B></FONT>age 65, is a proven business and R&amp;D strategy expert having recently completed a 39-year career at Agilent Technologies,&nbsp;Inc.
(NYSE: A) (&ldquo;Agilent&rdquo;), with nearly 20 years as Chief Technology Officer and Senior Vice President. In this role, Dr.&nbsp;Solomon
oversaw Agilent Research Laboratories, which focuses on high-impact, longer-range research in support of the company&rsquo;s sustained
core and adjacent business growth, as well as Agilent&rsquo;s programs in university relations, external research, and venture investment.
As Chief Technology Officer, Dr.&nbsp;Solomon also navigated numerous complex intellectual property and technology issues associated
with Agilent&rsquo;s multiple separation and acquisition transactions. Dr.&nbsp;Solomon is currently an independent director on the boards
of Materion Corporation (NYSE: MTRN), where she is a past member of the Audit and Risk Committee and currently a member of the Compensation
Committee and the Nominating, Governance, and Corporate Responsibility Committee, and of Novanta Inc. (NASDAQ: NOVT), where she is a
member of the Compensation Committee. Dr.&nbsp;Solomon was the Senior Vice President and Chief Technology Officer of Agilent Technologies,&nbsp;Inc.
(operating in the life sciences, diagnostics and applied chemical markets) until July&nbsp;2023. Dr.&nbsp;Solomon previously served in
a number of leadership positions, including as Vice President and Director of Agilent Laboratories, Agilent&rsquo;s centralized advanced
research organization, and in a dual capacity as the Director of the Life Sciences Technologies Laboratory and the Senior Director, Research
and Development/Technology of Agilent&rsquo;s Life Sciences and Chemical Analysis business. Dr.&nbsp;Solomon holds a bachelor&rsquo;s
degree in Chemistry from Stanford University and a Ph.D. in Inorganic Chemistry from MIT. Dr.&nbsp;Solomon is also a member of the National
Academy of Engineering and serves on multiple academic and government advisory boards focused on science, technology, and innovation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We believe that Dr.&nbsp;Solomon&rsquo;s
extensive knowledge and experience in markets important to the Company, as well as having recently led innovation in a diversified global
technology enterprise, would bring to the Board valuable insight on research and development, strategy, sustainability and the operational
challenges faced by companies focused on commercialization of technology innovations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As of the date hereof, Dr.&nbsp;Solomon
does not own any securities of the Company and has not entered into any transactions in the securities of the Company during the past
two years. The principal business address of Dr.&nbsp;Solomon is 17 Valley Oak, Portola Valley, CA 94028.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Other than as stated herein,
there are no arrangements or understandings among the members of Politan or any other person or persons pursuant to which the nomination
of the Politan Nominees described herein is to be made, other than the consent by each of the Politan Nominees to be named as a nominee
of Politan in any proxy statement relating to the 2024 Annual Meeting and serving as a director of the Company if elected as such at
the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Interests in the Solicitation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Nominees may be
deemed to have an interest in their nominations for election to the Board by virtue of the compensation that the Politan Nominees will
receive from the Company as a director, if elected to the Board, and as described below. We expect that the Politan Nominees, if elected,
will be indemnified for their service as directors of the Company to the same extent indemnification is provided to the current directors
of the Company under the Bylaws and the Company&rsquo;s Amended and Restated Certificate of Incorporation and be covered by the policy
of insurance which insures the Company&rsquo;s directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Mr.&nbsp;Koffey could be considered
to have an indirect interest in this Proposal One (Election of the Politan Nominees as Directors), as described in further detail below.
Other than as set forth in this Proxy Statement and in Schedule I (which is incorporated herein by reference), no Participant, or any
associate of any Participant, has any substantial interest, direct or indirect, by security holdings or otherwise, in any matter to be
acted upon at the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Mr.&nbsp;Koffey is the Managing
Partner and Chief Investment Officer of Politan which serves as the investment advisor to the Politan Funds. Mr.&nbsp;Koffey is also
the Managing Member of Politan Management and Politan GP. Through these roles, Mr.&nbsp;Koffey controls the investment and voting decisions
of the Politan Funds with respect to any securities held by the Politan Funds, including any interests in Common Stock held by the Politan
Funds. Politan GP is entitled to an incentive allocation from Politan Master Fund, which is customary in the investment management industry
and is based on a percentage of the increase or decrease in the value of the investment portfolio of the Politan Funds, of which interests
in Common Stock form a part as of the date hereof. Politan is also entitled to a management fee based on a percentage of the total value
of the investment portfolio from Politan Offshore and Politan LP. Mr.&nbsp;Koffey is entitled to portions of such payments through his
direct or indirect equity interests in the applicable Politan Parties, including limited partnership interests in Politan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Arrangements between Politan and the Politan
Nominees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Politan
has entered into Engagement and Indemnification Agreements with each of the Politan Nominees, dated as of March&nbsp;22, 2024 (collectively,
the &ldquo;</FONT>Engagement and Indemnification Agreements&rdquo;), pursuant to which it has agreed to indemnify each Politan Nominee
against claims arising from the solicitation of proxies from the Stockholders in connection with the 2024 Annual Meeting and any related
transactions. For the avoidance of doubt, this indemnification obligation does not apply or extend to any claims made against either
Politan Nominee in his or her capacity or service as a director of the Company, if so elected. Pursuant to their Engagement and Indemnification
Agreement, each Politan Nominee has agreed to, among other matters, stand as a Politan Nominee of the Record Stockholder for election
to the Board at the 2024 Annual Meeting, be named in Politan&rsquo;s solicitation materials, serve as a director if elected and coordinate
with Politan in connection with any public disclosures or litigation relating to the solicitation. Pursuant to their Engagement and Indemnification
Agreement, each Politan Nominee received a $50,000 payment upon execution of his or her respective Engagement and Indemnification Agreement,
with a further $50,000 payable upon the earlier to occur of (i)&nbsp;such Politan Nominee&rsquo;s election to the Board by the Stockholders
or appointment to the Board pursuant to an agreement between the Company and Politan, or (ii)&nbsp;such Politan Nominee not being elected
as a director of the Company following the conclusion of a proxy solicitation in which Politan nominated (and did not withdraw) his or
her nomination for election to the Board. Politan has agreed to indemnify each Politan Nominee against any losses suffered, incurred
or sustained by such Politan Nominee in connection with such Politan Nominee being a member of the slate or the solicitation of proxies
in connection therewith. Politan has further agreed to reimburse each Politan Nominee for reasonable, documented, out-of-pocket expenses
incurred as a result of such Politan Nominee being a member of the slate, including, without limitation, travel expenses and expenses
in connection with legal counsel retained to represent each Politan Nominee in connection with being a member of the slate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Each Politan Nominee also executed
a written consent to serve as a director if elected. The foregoing description is qualified in its entirety by reference to the form
of Engagement and Indemnification Agreement attached as Exhibit&nbsp;99.9 to Amendment No.&nbsp;7 to Schedule 13D filed by Politan with
respect to the Company on March&nbsp;27, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Compensation of the Company&rsquo;s Directors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If elected to the Board, the
Politan Nominees will not receive any compensation from the Politan Parties to serve as a director. The Politan Parties expect, however,
that the Politan Nominees, if elected, will receive whatever compensation the Board has established for non-employee directors of the
Company, unless and until the Board determines to change such compensation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As disclosed in the Company
Proxy Statement, non-employee directors of the Company were entitled to receive the following compensation in the 2023 fiscal year:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Board
                                            retainer: $70,000 annually;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Audit
                                            Committee Chairperson retainer: $25,000 annually;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Audit
                                            Committee member retainer: $12,500 annually;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Compensation
                                            Committee Chairperson retainer: $20,000 annually;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Compensation
                                            Committee member retainer: $10,000 annually;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Nominating
                                            Committee Chairperson retainer: $15,000 annually; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Nominating
                                            Committee member retainer: $5,000 annually.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">In addition, according to the
Company Proxy Statement, each non-employee director is granted an award of restricted share units (&ldquo;RSUs&rdquo;) with respect to
shares of Common Stock having a grant date fair value of $200,000, rounded down to the nearest whole share, which will vest on the earlier
of the first anniversary of the grant date or the date of the next annual meeting of Stockholders. RSUs granted to non-employee directors
also vest in full in the event of a change in control of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Under the Employment Agreement,
Mr.&nbsp;Kiani generally may assert &ldquo;Good Reason&rdquo; to terminate his employment&mdash;and thereby trigger entitlement to the
severance benefits available thereunder&mdash;if he ceases to serve as Chairman of the Board. Accordingly, if the Politan Nominees are
elected and, as a result, Mr.&nbsp;Kiani ceases to be a director, he necessarily would cease to be the Board&rsquo;s Chairman, and he
would then be in a position to terminate his employment and claim it was for Good Reason, as defined in the Employment Agreement. To
do so, however, Mr.&nbsp;Kiani must first notify the Company of his intent to terminate his employment for Good Reason, and the Company
then has thirty (30) days to &ldquo;cure&rdquo; those circumstances&mdash;for example, here, by reinstating Mr.&nbsp;Kiani as Chairman.
To effect that particular cure, the Company could, among other things, expand the size of the Board and invite Mr.&nbsp;Kiani to serve
as its Chairman; as a result, Mr.&nbsp;Kiani&rsquo;s ceasing to be a member of the Board (and its Chairman) would not necessarily result
in his ability to terminate his employment for Good Reason under the Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Parties believe
that the director change of control provisions in the Employment Agreement are unenforceable. Further, if Mr.&nbsp;Kiani is not reelected
at the 2024 Annual Meeting, the Politan Parties believe that offering to reappoint Mr.&nbsp;Kiani to the Board as Chairman within thirty
(30) days would satisfy the cure provisions in the Employment Agreement, regardless of whether he accepts the offer. According to the
Company Proxy Statement, it is Mr.&nbsp;Kiani&rsquo;s interpretation of the Employment Agreement that if he is not re-elected to the
Board, declines re-appointment to the Board and terminates his employment with the Company for &ldquo;Good Reason&rdquo; under the Employment
Agreement, he would be entitled to a payment of an amount equal to his full base salary through the date of termination, if applicable,
and an additional amount equal to twice the sum of his base salary then in effect and the average annual bonus paid to him over the prior
three years, which would be paid in installments over two years pursuant to the Company&rsquo;s normal payroll practices; and all of
his outstanding options and other equity awards would immediately vest. In addition, according to the Company Proxy Statement, 2.7 million
shares of Common Stock subject to an RSU award previously granted to Mr.&nbsp;Kiani under the Employment Agreement would vest in full
and the Company would be required to pay him a cash amount equal to $35 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">For
a representative quantification of estimated payments due if Mr.&nbsp;Kiani is not re-elected to the Board and his interpretation of
the Employment Agreement prevails, please refer to page&nbsp;36 of the Company Proxy Statement</FONT>. The Company Proxy Statement also
discloses additional information with respect to the Employment Agreement in the section titled &ldquo;Executive Compensation-Employment
Arrangements with Named Executive Officers-Employment Agreement with Mr.&nbsp;Kiani.&rdquo; The Employment Agreement is disclosed along
with amendments thereto as exhibits 10.2, 10.3 and 10.4 of the Company&rsquo;s 2023 Annual Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">To be clear, the Politan Parties
do not intend for this proxy solicitation to be about firing Mr.&nbsp;Kiani. On several occasions, including in the Response to the May&nbsp;9
Proposal, the Politan Parties have extended an offer that Mr.&nbsp;Kiani remain on the Board if both of the Politan Nominees are also
added to the Board&mdash;something that the incumbent Board has so far been unwilling to do. If the Politan Nominees are elected, then
together with the 2023 Newly-Elected Directors, such truly independent directors will constitute a majority of the Board, even if Mr.&nbsp;Kiani
is added back to the Board as a director. While Mr.&nbsp;Koffey holds senior positions at Politan, Ms.&nbsp;Brennan, Mr.&nbsp;Jellison
and Dr.&nbsp;Solomon are independent of Politan. If the Politan Nominees are elected at the 2024 Annual Meeting, the Politan Parties
would support the Board extending an offer to Mr.&nbsp;Kiani to rejoin the Board as Chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan believes that the decision
regarding who should serve as the Company&rsquo;s chief executive officer is one that the Board should make following the conclusion
of the proxy contest with the information then available to the Board. To date, Politan has had significant concerns about the performance,
management and governance of the Company under Mr.&nbsp;Kiani&rsquo;s leadership and a Board composed of a majority of his hand-picked
directors. To the extent that Mr.&nbsp;Kiani is able and willing to reasonably address the foregoing concerns, Politan remains open minded
as to how Mr.&nbsp;Kiani may perform as the Company&rsquo;s chief executive officer under the supervision of, and potentially as a member
of, a Board consisting of a majority of truly independent directors. Furthermore, the Politan Nominees have made no decisions regarding
whether Mr.&nbsp;Kiani should remain the Company&rsquo;s chief executive officer following the proxy contest should they be elected to
the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Parties understand
that the Company maintains, at its expense, a policy of insurance which insures its directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Bylaws also contain provisions
that, among other matters, provide for the indemnification of officers and directors to the fullest extent permitted by Delaware law.
The Politan Parties expect that the Politan Nominees, if elected, will be indemnified in connection with his or her service as a director
of the Company to the same extent as the current directors of the Company under the Bylaws and will be covered by the policy of insurance
which insures the Company&rsquo;s directors and officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The share ownership level of
each current non-employee director and the compensation that each non-employee director of the Company was entitled to receive during
the fiscal year ended December&nbsp;30, 2023 is set forth in the Company Proxy Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">None of the Politan Nominees
or any of their respective associates has received any cash compensation, cash bonuses, deferred compensation, compensation pursuant
to plans, or other compensation, from, or in respect of, services rendered on behalf of the Company that is required to be disclosed
under, or is subject to any arrangement described in Item 402 of Regulation S-K promulgated under the Exchange Act (&ldquo;Regulation
S-K&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Neither of the Politan Nominees
has any position or office with the Company, and no occupation or employment in which the Politan Nominees have been involved during
the past five years was carried on with the Company or any company or organization that is a parent, subsidiary or other affiliate of
the Company, and neither of the Politan Nominees has ever served on the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Politan Parties believe that each of the Politan Nominees, if elected as a director of the Company, would be an &ldquo;independent director&rdquo;
within the meaning of applicable Nasdaq listing standards applicable to board composition, including Rule&nbsp;5605(a)(2), and Section&nbsp;301
of the Sarbanes-Oxley Act of 2002. Notwithstanding the foregoing, the Politan Parties acknowledge that no director of a Nasdaq listed
company qualifies as &ldquo;independent&rdquo; under the Nasdaq listing standards unless the board of directors of such company affirmatively
determines that such director is independent under such standards. Accordingly, the Politan Parties acknowledge that if any Politan Nominee
is elected, the determination of such Politan Nominee&rsquo;s independence under the Nasdaq listing standards ultimately rests with the
judgment and discretion of the Board. If elected, we believe that each Politan Nominee would qualify as an independent member of the
Company&rsquo;s Compensation </FONT>Committee, Nominating Committee and Audit Committee under each such committee&rsquo;s applicable
independence standards. In addition, each Politan Nominee understands that, if elected as a director of the Company, such Politan Nominee
would have an obligation to act in the best interests of the Company and the Stockholders in accordance with his or her duties as a director.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Except as set forth in this
Proxy Statement (including <I>Annex A </I>and the Schedules hereto), (i)&nbsp;no Politan Nominee has a family relationship with any director,
executive officer, or person nominated or chosen by the Company to become a director or executive officer, and (ii)&nbsp;with respect
to each of the Politan Nominees, none of the events enumerated in Item 401(f)(1)-(8)&nbsp;of Regulation S-K of the Exchange Act occurred
during the past 10 years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The information herein regarding
each Politan Nominee has been furnished to us by such Politan Nominee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We expect that the Politan
Nominees will be able to stand for election, but, in the event any Politan Nominee is unable to serve or for good cause will not serve,
the shares of Common Stock represented by the enclosed <B>WHITE universal proxy card or voting instruction form</B> will be voted for
substitute nominee(s), to the extent this is not prohibited under the Bylaws and applicable law. In addition, we reserve the right to
nominate substitute person(s)&nbsp;if the Company makes or announces any changes to the Bylaws or takes or announces any other action
that has, or if consummated would have, the effect of disqualifying a Politan Nominee, to the extent this is not prohibited under the
Bylaws and applicable law. In any such case, we would identify and properly nominate such substitute nominee(s)&nbsp;in accordance with
the Bylaws and the shares of Common Stock represented by the enclosed <B>WHITE universal proxy card or voting instruction form</B> will
be voted for such substitute nominee(s). We reserve the right to nominate additional person(s), to the extent this is not prohibited
under the Bylaws and applicable law, if the Company increases the size of the Board above its existing size or increases the number of
directors whose terms expire at the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Parties and Masimo
will each be using a universal proxy card for voting on the election of directors at the 2024 Annual Meeting, which will include the
names of all nominees for election to the Board. Each of the Politan Nominees has consented to being named as a nominee for election
as a director of the Company in any proxy statement relating to the 2024 Annual Meeting. Stockholders will have the ability to vote for
up to two nominees on the Politan Parties&rsquo; enclosed <B>WHITE universal proxy card or voting instruction form</B>. There is no need
to use the Company&rsquo;s gold proxy card or voting instruction form, regardless of how you wish to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase">Stockholders
are permitted to vote for less than two nominees or for any combination OF up to two OF the Politan Nominees and the Company&rsquo;s
nominees on the <B>WHITE universal proxy card or voting instruction form</B>.</FONT> IMPORTANTLY,&nbsp;IF YOU MARK MORE THAN TWO &ldquo;FOR&rdquo;
BOXES WITH RESPECT TO THE ELECTION OF DIRECTORS, ALL OF YOUR VOTES FOR THE ELECTION OF DIRECTORS WILL BE DEEMED INVALID.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WE STRONGLY URGE YOU TO
VOTE ON THE ENCLOSED WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM&nbsp;&ldquo;FOR&rdquo; THE ELECTION OF THE POLITAN NOMINEES
AND VOTE TO &ldquo;WITHHOLD&rdquo; ON THE ELECTION OF THE COMPANY&rsquo;S NOMINEES.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL TWO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>RATIFICATION
OF THE SELECTION OF GRANT THORNTON LLP AS THE COMPANY&rsquo;S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING
DECEMBER 28, 2024</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">According
to the Company Proxy Statement, the Audit Committee has selected Grant Thornton LLP (&ldquo;Grant Thornton&rdquo;) as its independent
registered public accounting</FONT> firm for the fiscal year ending December&nbsp;28, 2024, and has further directed that management
submit the selection of the Company&rsquo;s independent registered public accounting firm for ratification by the Stockholders at the
2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">According
to the Company Proxy Statement, </FONT>Grant Thornton was appointed as the Company&rsquo;s independent registered public accounting firm
in July&nbsp;2006 and has reported on its consolidated financial statements for years 2005 through 2023. <FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company Proxy Statement states that</FONT> the decision to select Grant Thornton as the Company&rsquo;s independent registered public
accounting firm for fiscal year 2024 (ending December&nbsp;28, 2024) was recommended by the Audit Committee and recommended by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">According to the Company Proxy
Statement, representatives of Grant Thornton are expected to be present at the 2024 Annual Meeting and will be able to make a statement
at the 2024 Annual Meeting if they wish and will be available to respond to appropriate questions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Neither the Bylaws nor other
governing documents or law require that the Stockholders ratify the selection of Grant Thornton as the Company&rsquo;s independent registered
public accounting firm. According to the Company Proxy Statement, the Audit Committee has directed that management submit the selection
of Grant Thornton to the Stockholders for ratification by Stockholders at the 2024 Annual Meeting as a matter of good corporate practice.
If the Stockholders fail to ratify the selection, the Audit Committee will reconsider whether or not to retain that firm. Even if the
selection is ratified, the Audit Committee in its discretion may direct the appointment of different independent registered public accounting
firms at any time during the year if it determines that such a change would be in the best interests of the Company and the Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As the Company has submitted
the ratification of its registered public accounting firm for approval by the Stockholders, according to the Company Proxy Statement,
the number of votes cast &ldquo;FOR&rdquo; the proposal must exceed the number of votes cast &ldquo;AGAINST&rdquo; such proposal to ratify
the selection of Grant Thornton as the Company&rsquo;s independent registered public accounting firm for the fiscal year ending December&nbsp;28,
2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WE RECOMMEND A VOTE &ldquo;FOR&rdquo; THIS
PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL THREE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; text-transform: uppercase; background-color: white"><B>A</B></FONT><B><FONT STYLE="text-transform: uppercase">dvisory
Vote to Approve the Compensation of Named Executive Officers</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">According
to the Company Proxy Statement, t</FONT>he Board requests that the Stockholders approve the compensation of its Named Executive Officers
(as described in the Company Proxy Statement) pursuant to Section&nbsp;14A of the Exchange Act. A discussion of this matter can be found
in the Company Proxy Statement in the section titled &ldquo;<I>Compensation Discussion and Analysis</I>&rdquo; beginning on page&nbsp;55
of the Company Proxy Statement, and the compensation tables beginning on page&nbsp;79 of the Company Proxy Statement, and any related
narrative discussion contained throughout the Company Proxy Statement.<B><I>&nbsp;</I></B>This vote is advisory and not binding on the
Company, but the Company Proxy Statement states that the Board and the Compensation Committee value the opinions of the Stockholders
and will consider the outcome of the vote in determining its executive compensation program.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>&ldquo;Say-on-Pay&rdquo;
Vote</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company Proxy Statement
provides that the Board maintains a pay for performance philosophy that forms the foundation for all of the Compensation Committee&rsquo;s
decisions regarding executive compensation. The Company Proxy Statement states that its compensation program is designed to facilitate
strong corporate governance, foster collaboration and support the Company&rsquo;s short and long-term strategy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company Proxy Statement
provides that further information regarding the Company&rsquo;s executive compensation can be found in the <I>Compensation Discussion
and Analysis</I> portion of the Company Proxy Statement, which contains a detailed description of the Company&rsquo;s executive compensation
philosophy and program, including the compensation decisions the Compensation Committee has made under the program and the factors considered
in making those decisions. The Company Proxy Statement discloses that Stockholders affirmed their support of the Company&rsquo;s program
in our outreach discussions and in recent Say-on-Pay annual vote results. The Company Proxy Statement expresses the Company&rsquo;s belief
that it has created a compensation program deserving of the Stockholder support and that the compensation of the Company&rsquo;s named
executive officers for fiscal year 2023 was appropriate and reasonable, as well as reflective of the Company&rsquo;s performance for
the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Accordingly, the Company Proxy
Statement states that the following resolution is submitted for a Stockholder vote at the 2024 Annual Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">&ldquo;<I>RESOLVED</I>,
that the stockholders of Masimo Corporation approve, on an advisory basis, our named executive officer compensation for fiscal 2023,
as disclosed pursuant to Item&nbsp;402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables and
related narrative discussion, in this Proxy Statement.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="background-color: white">The
Company Proxy Statement states that the Stockholder vote on named executive officer compensation is merely advisory and will not be binding
upon the Company, the Board or the Compensation Committee, and that the outcome of the vote will not require the Company, the Board or
the Compensation Committee to take any action or overrule&nbsp;any decision by the Company, the Board or the Compensation Committee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Parties do not
believe that the Company&rsquo;s performance justifies the executive officer compensation disclosed in the Company Proxy Statement. As
the Company Proxy Statement discloses, &ldquo;2023 financial performance fell below the objective performance goals established under
[its] compensation program.&rdquo; The Company&rsquo;s stock price in October&nbsp;2023 reached a five year low and remains as of June&nbsp;2024
more than 40% below the valuation it reached in February&nbsp;2022, immediately prior to the announcement of the acquisition of Sound
United.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Furthermore, the advisory vote
with respect to named executive officer compensation at the 2023 Annual Meeting only narrowly passed, and the Politan Parties do not
believe that enough was subsequently done to address Stockholder concerns in this regard. Finally, as discussed in the &ldquo;BACKGROUND
OF THE SOLICITATION,&rdquo; the Politan Parties believe that the Company&rsquo;s management, including the Chief Executive Officer, has
repeatedly obstructed the adoption of effective corporate governance practices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WE RECOMMEND A VOTE &ldquo;AGAINST&rdquo;
THIS PROPOSAL AND INTEND TO VOTE OUR POLITAN GROUP SHARES AND KOFFEY SHARES (<FONT STYLE="text-transform: uppercase">which are capable
of being voted</FONT>) &ldquo;AGAINST&rdquo; THIS PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL FOUR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POLITAN PARTIES PROPOSAL TO REPEAL ANY PROVISION
OF, OR AMENDMENT TO, THE BYLAWS ADOPTED BY THE BOARD WITHOUT STOCKHOLDER APPROVAL SUBSEQUENT TO APRIL 20, 2023 AND UP TO AND INCLUDING
THE DATE OF THE 2024 ANNUAL MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We have notified the Company
that we intend to present the Bylaw Proposal for consideration at the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Parties believe
that in order to ensure that the will of the Stockholders with respect to this proxy solicitation is upheld, no effect should be given
to any provision of, or amendment to, the Bylaws unilaterally adopted by the Board after the date of the most recent publicly disclosed
Bylaws, which is April&nbsp;20, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Stockholders are therefore
being asked to adopt a resolution that would repeal any provision of the Bylaws or amendment to the Bylaws that the Board adopted or
adopts without the approval of the Stockholders after April&nbsp;20, 2023 and up to and including the date of the 2024 Annual Meeting,
including, without limitation, any amendments that the Board has adopted without public disclosure, or that the Board might adopt in
an effort to: impede the effectiveness of the Record Stockholder&rsquo;s nomination of the Politan Nominees, negatively impact the Politan
Parties&rsquo; ability to solicit and/or obtain proxies from Stockholders, contravene the will of the Stockholders expressed in those
proxies, or modify the Company&rsquo;s corporate governance regime.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Accordingly, the following
resolution will be submitted for a Stockholder vote at the 2024 Annual Meeting and we strongly urge that Stockholders for &ldquo;<B>FOR</B>&rdquo;
this resolution:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&ldquo;RESOLVED,
</I></FONT>that each provision of, or amendment to, the Bylaws adopted by the Board without the approval of the stockholders of the Company
subsequent to April&nbsp;20, 2023 (the date of the most recent publicly disclosed Bylaws) and up to and including the date of this meeting
of stockholders at which this resolution is being proposed, be, and hereby is, repealed, effective as of the time this resolution is
approved by the Company&rsquo;s stockholders.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company Proxy Statement
states that the adoption of the Bylaw Proposal will require the affirmative vote of the holders of at least seventy-five percent (75%)
of the voting power of all of the then-outstanding shares of Common Stock entitled to vote generally in the election of directors, voting
together as a single class.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>WE STRONGLY URGE YOU TO
VOTE &ldquo;FOR&rdquo; THE APPROVAL OF THE BYLAW PROPOSAL ON THE ENCLOSED WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NO APPRAISAL OR DISSENTER&rsquo;S RIGHTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Stockholders will not have
rights of appraisal or similar dissenter&rsquo;s rights with respect to any matters identified in this Proxy Statement to be acted upon
at the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>VOTING AND PROXY PROCEDURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Only Stockholders of record
at the close of business on the Record Date will be entitled to notice of and to vote at the 2024 Annual Meeting. Each share of Common
Stock is entitled to one vote. Stockholders who sell shares of Common Stock before the Record Date (or acquire them without voting rights
after the Record Date) may not vote such shares of Common Stock. Stockholders of record on the Record Date will retain their voting rights
in connection with the 2024 Annual Meeting even if they sell such shares of Common Stock after the Record Date. Based on publicly available
information, we believe that the only outstanding class of securities of the Company entitled to vote at the 2024 Annual Meeting is the
Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Shares of Common Stock represented
by properly executed <B>WHITE universal proxy card or voting instruction form</B> will be voted at the 2024 Annual Meeting as marked
and, in the absence of specific instructions, will be voted (1)&nbsp;<B>&ldquo;FOR&rdquo;</B> the election of the Politan Nominees to
the Board, (2)&nbsp;<B>&ldquo;FOR&rdquo; </B>the ratification of Grant Thornton LLP as the Company&rsquo;s independent registered public
accounting firm for the 2024 fiscal year, (3)&nbsp;<B>&ldquo;AGAINST&rdquo;</B> the approval of named executive officer compensation,
and (4)&nbsp;<B>&ldquo;FOR&rdquo;</B> the approval of the Bylaw Proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Parties and Masimo
will each be using a universal proxy card for voting on the election of directors at the 2024 Annual Meeting, which will include the
names of all nominees for election to the Board. Stockholders will have the ability to vote for up to two nominees on the Politan Parties&rsquo;
enclosed <B>WHITE universal proxy card or voting instruction form</B>. <B>There is no need to use the Company&rsquo;s gold proxy card
or voting instruction form, regardless of how you wish to vote.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company has a classified
Board, which is currently divided into three classes. The terms of the Class&nbsp;II director(s)&nbsp;expire at the 2024 Annual Meeting.
Through the attached Proxy Statement and enclosed <B>WHITE universal proxy card or voting instruction form</B>, we are soliciting proxies
to elect the two Politan Nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Stockholders are permitted
to vote for less than two nominees or for any combination (up to two total) of the Politan Nominees and the Company&rsquo;s nominees
on the <B>WHITE universal proxy card or voting instruction form</B>. The Politan Parties urge Stockholders to vote <B>&ldquo;FOR&rdquo;
</B>both of the Politan Nominees and vote to &ldquo;<B>WITHHOLD</B>&rdquo; on the Company&rsquo;s nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>IMPORTANTLY,&nbsp;IF YOU
MARK MORE THAN TWO &ldquo;FOR&rdquo; BOXES WITH RESPECT TO THE ELECTION OF DIRECTORS, ALL OF YOUR VOTES FOR THE ELECTION OF DIRECTORS
WILL BE DEEMED INVALID. IF YOU MARK ONLY ONE &ldquo;FOR&rdquo; BOX WITH RESPECT TO THE ELECTION OF DIRECTORS, YOUR SHARES WILL ONLY BE
VOTED &ldquo;FOR&rdquo; THE NOMINEE YOU HAVE SO MARKED.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">In the event that the Record
Stockholder withdraws its nomination of either of the Politan Nominees or abandons its solicitation, any votes cast in favor of the Politan
Nominees will be disregarded and not be counted, whether such vote is provided on the Company&rsquo;s gold universal proxy card or the
Politan Parties&rsquo; <B>WHITE universal proxy card or voting instruction form</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">With respect to votes cast
in favor of the Company&rsquo;s nominees or on matters other than the election of directors, in the event that the Record Stockholder
withdraws its nomination of either of the Politan Nominees or abandons its solicitation, the Politan Parties will still submit such votes
to the independent inspector.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Quorum; Abstentions and Broker Non-Votes; No Discretionary Voting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">A
quorum of Stockholders is necessary to hold a valid meeting. The Company Proxy Statement states that <FONT STYLE="background-color: white">a
</FONT>quorum will be present if at least a majority of the voting power of all of the sha<FONT STYLE="background-color: white">res of
Common Stock are represented by votes at the 2024 Annual Meeting or by proxy. </FONT></FONT>The Company has not yet publicly disclosed
the number of shares of Common Stock outstanding as of the Record Date. Accordingly, we have omitted such information from this Proxy
Statement, and this information together with the number of votes that must <FONT STYLE="background-color: white">be represented at the
2024 Annual Mee</FONT>ting or by proxy to have a quorum will be included in the Company Proxy Statement relating to the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company Proxy Statement
states that your shares will be counted towards the quorum only if you submit a valid proxy (or if one is submitted on your behalf by
your broker, bank or other agent) or if you vote at the 2024 Annual Meeting. If there is no quorum, the Company Proxy Statement states
that the chairman of the meeting or the Stockholders holding a majority of the shares present at the 2024 Annual Meeting will adjourn
the 2024 Annual Meeting to another date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If you are a beneficial owner,
your broker will vote your shares pursuant to your instructions. A broker&rsquo;s inability to vote with respect to the non-discretionary
matters for which the broker has&nbsp;not&nbsp;received voting instructions from the beneficial owner is referred to as a &ldquo;broker
non-vote.&rdquo; The Company Proxy Statement states that, because the Politan Parties have initiated a proxy contest, to the extent the
Politan Parties provide a proxy card or voting instruction form to Stockholders who hold their shares in &ldquo;street name,&rdquo; brokers
will not have discretionary voting authority to vote on any of the proposals presented at the 2024 Annual Meeting, including the Ratification
of Auditors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company Proxy Statement states that a</FONT>bstentions and broker non-votes will be treated as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Abstentions:
</I></FONT>Under Delaware law (under which the Company is incorporated), abstentions are counted as shares present and entitled to vote
at the 2024 Annual Meeting, but they are not counted as shares cast. Therefore, abstentions will have no effect on <I>Proposal No.&nbsp;2&mdash;Ratification
of Auditors</I> or <I>Proposal No.&nbsp;3&mdash;Advisory Vote to Approve the Compensation of Named Executive Officers</I>. An abstention
will have the same effect as a vote &ldquo;<B>AGAINST</B>&rdquo; <I>Proposal No.&nbsp;4&mdash;the Politan Parties&rsquo; Proposal to
repeal any provision of, or amendment to, the Bylaws adopted by the Board without stockholder approval subsequent to April&nbsp;20, 2023
and up to and including the date of the 2024 Annual Meeting</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Broker
Non-Votes:</I></FONT> Brokers, banks and other such record holders are not permitted to vote the uninstructed shares of their customers
on a discretionary basis in the election of directors or on named executive officer compensation matters. Because broker non-votes are
not considered under Delaware law to be entitled to vote at the 2024 Annual Meeting, they will have no effect on the outcome of the vote
on: <I>Proposal No.&nbsp;1&mdash;Election of Directors</I> or <I>Proposal No.&nbsp;3&mdash;Advisory Vote to Approve the Compensation
of Named Executive Officers</I>. A broker non-vote will have the same effect as a vote &ldquo;<B>AGAINST</B>&rdquo; <I>Proposal No.&nbsp;4&mdash;the
Politan Parties&rsquo; Proposal to repeal any provision of, or amendment to, the Bylaws adopted by the Board without stockholder approval
subsequent to April&nbsp;20, 2023 and up to and including the date of the 2024 Annual Meeting</I>. As stated in the Company Proxy Statement,
because the Politan Parties have initiated a proxy contest, to the extent the Politan Parties provide a proxy card or voting instruction
form to Stockholders who hold their shares in &ldquo;street name,&rdquo; brokers will not have discretionary voting authority to vote
on any of the proposals presented at the 2024 Annual Meeting, including <I>Proposal No.&nbsp;2&mdash;Ratification of Auditors</I>. Broker
non-votes, if any, will have no effect on the outcome of the vote on <I>Proposal No.&nbsp;2&mdash;Ratification of Auditors</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company Proxy Statement states that if you hold your shares in street name and you do not instruct your broker, bank or other such holder
how to vote your shares in the election of directors, the advisory vote related to the approval of the Company&rsquo;s named executive
officer executive compensation program or the Bylaw Proposal, no votes will be cast on your behalf on these proposals. <B>Therefore,
it is critical that you indicate your vote on these proposals if you want your vote to be counted</B>. </FONT>We encourage you to vote
promptly, even if you plan on attending the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Votes Required for Approval</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>What vote is required to elect the Politan Nominees?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Company Proxy Statement states that according to the Bylaws, in a contested election such as this one, </FONT>directors shall be elected
on a plurality basis. A &ldquo;plurality cast&rdquo;, with regard to the election of a director, means that the two (2)&nbsp;director
nominees receiving the greatest number of votes cast &ldquo;for&rdquo; their election will be elected. Votes withheld and broker non-votes
are not votes cast and will result in the applicable nominees receiving fewer &ldquo;FOR&rdquo; votes for purposes of determining the
two director nominees receiving the most votes. A properly executed proxy marked to &ldquo;WITHHOLD&rdquo; a vote with respect to the
election of any or all director nominees will be counted for purposes of determining whether there is a quorum, but will not be considered
to have been voted for or against such nominee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>How many shares of Common Stock must be voted
in favor of the other proposals described in this Proxy Statement?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
approval of the Bylaw Proposal will require the </FONT>affirmative vote of the holders of at least seventy-five percent (75%)&nbsp;of
the voting power of all of the then-outstanding shares of the capital stock of the Company entitled to vote generally in the election
of directors. You may vote &ldquo;FOR&rdquo; or &ldquo;AGAINST&rdquo; or you may abstain on this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; background-color: white">The
approval of <I>Proposal No.&nbsp;2 &ndash; Ratification of Auditors</I> and <I>Proposal No.&nbsp;3 &ndash; Advisory Vote to Approve the
Compensation of Named Executive Officers</I>, will each require the affirmative vote of the holders of a majority of the votes cast (disregarding
abstentions and broker non-votes), meaning the number of votes cast &ldquo;for&rdquo; the proposal must exceed the number of votes cast
 &ldquo;against&rdquo; such proposal</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
other matters are properly brought before the 2024 Annual Meeting, the vote required will be determined in accordance with a</FONT>pplicable
law, the listing standards and rules&nbsp;of Nasdaq, the Company&rsquo;s Amended and Restated Certificate of Incorporation and the Bylaws,
as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>What should I do in order to vote for the Politan Nominees?</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If your shares of Common Stock
are held of record in your own name, please authorize a proxy to vote by marking, signing, dating and returning the enclosed <B><I>WHITE
</I></B>proxy card in the postage-paid envelope provided or by instructing us by telephone or via the Internet as to how you would like
your shares of Common Stock voted (instructions are on your <B><I>WHITE </I></B>proxy card).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If you hold your shares of
Common Stock in &ldquo;street name&rdquo; with a bank, brokerage firm, dealer, trust company or other institution or nominee, only they
can exercise your right to vote with respect to your shares of Common Stock and only upon receipt of your specific instructions. Accordingly,
it is critical that you promptly give instructions to your bank, brokerage firm, dealer, trust company or other institution or nominee
to ensure that a <B><I>WHITE </I></B>voting instruction form is submitted on your behalf. Please follow the instructions to authorize
a proxy to vote provided on the enclosed <B><I>WHITE </I></B>voting instruction form. If your bank, brokerage firm, dealer, trust company
or other nominee provides for voting instructions to be delivered to them by Internet or telephone, instructions will be included on
the enclosed <B><I>WHITE </I></B>voting instruction form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">YOUR VOTE IS VERY IMPORTANT.
If you do not plan to attend the 2024 Annual Meeting, we encourage you to read this Proxy Statement and date, sign and return your completed
<B><I>WHITE </I></B>proxy card or voting instruction form prior to the 2024 Annual Meeting so that your shares of Common Stock will be
represented and voted in accordance with your instructions. Even if you plan to attend the 2024 Annual Meeting, we recommend that you
authorize a proxy to vote your shares of Common Stock in advance as described above to ensure that your vote will be counted if you later
decide not to attend the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If you sign and submit your
<B>WHITE universal proxy card or voting instruction form</B> without specifying how you would like your shares voted, your shares will
be voted as specified above and in accordance with the discretion of the persons named on the <B>WHITE universal proxy card or voting
instruction form</B> with respect to any other matters that may be voted upon at the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Revocation of Proxies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Stockholders may revoke their
proxies at any time prior to exercise by attending the 2024 Annual Meeting and voting in person (although attendance at the 2024 Annual
Meeting will not in and of itself constitute revocation of a proxy), by delivering a written notice of revocation, or by signing and
delivering a subsequently dated proxy which is properly completed. The latest dated proxy is the only one that will be counted. The revocation
may be delivered either to Politan in care of D.F. King at the address set forth on the back cover of this Proxy Statement or to the
Company at 52 Discovery,&nbsp;Irvine, California 92618, or any other address provided by the Company. Although a revocation is effective
if delivered to the Company, Politan requests that either the original or photostatic copies of all revocations be mailed to Politan
in care of D.F. King at the address set forth on the back cover of this Proxy Statement so that we will be aware of all revocations and
can more accurately determine if and when proxies have been received from the holders of record on the Record Date. Additionally, D.F.
King may use this information to contact Stockholders who have revoked their proxies in order to solicit later dated proxies for the
election of the Politan Nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IF YOU WISH TO VOTE FOR THE POLITAN NOMINEES,
PLEASE SIGN, DATE AND RETURN THE ENCLOSED WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION FORM&nbsp;TODAY IN THE POSTAGE-PAID ENVELOPE
PROVIDED.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SOLICITATION OF PROXIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The solicitation of proxies
pursuant to this Proxy Statement is being made by the Participants. Proxies may be solicited by mail, facsimile, telephone,&nbsp;Internet,
in person and by advertisements. Solicitations may be made by certain of the respective directors, officers, members and employees of
Politan, none of whom will, except as described elsewhere in this Proxy Statement, receive additional compensation for such solicitation.
The Politan Nominees may make solicitations of proxies but, except as described herein, will not receive compensation for acting as director
nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan has retained D.F. King
to provide solicitation and advisory services in connection with the 2024 Annual Meeting. Compensation terms of this engagement of the
proxy solicitor include $100,000 upon execution of the agreement, $125,000 upon Politan&rsquo;s mailing of a definitive proxy statement
to the Stockholders, and $125,000 upon the occurrence of the 2024 Annual Meeting. D.F. King also is entitled to reimbursement of reasonable
expenses incurred in connection with its delivery of services to Politan in connection with the solicitation. The terms of the engagement
provide further that Politan may, in its discretion, agree to pay an additional success fee to D.F. King in an amount to be determined
by Politan, in its sole discretion, if Politan determines that such a success fee is warranted in light of the performance by D.F. King
of its services. If paid, any such success fee would be a reasonable amount, which we presently anticipate would be equal to or lower
than 150% of the contractually required total amount of $350,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan agreed to indemnify
D.F. King against certain liabilities and expenses that it may incur in connection with delivery of services to Politan in connection
with the solicitation. As of the date hereof, the cost of retaining D.F. King is $100,000, and as set forth above, the total anticipated
cost thereof is not yet determinable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan has requested banks,
brokerage houses and other custodians, nominees and fiduciaries to forward all solicitation materials to the beneficial owners of the
shares of Common Stock they hold of record. Politan will reimburse these record holders for their reasonable out-of-pocket expenses in
so doing. It is anticipated that D.F. King will employ approximately 25 persons to solicit Stockholders for the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
entire expense of soliciting proxies is being borne by Politan. Costs of this solicitation of proxies are currently estimated to be approximately
$</FONT>2,000,000. Politan estimates that through the date hereof, its expenses in connection with this solicitation are approximately
$5,500,000. Politan intends to seek reimbursement from the Company of all costs and expenses that the Politan Parties incur in connection
with the solicitation of proxies for the election of the Politan Nominees to the Board at the 2024 Annual Meeting. The Politan Parties
do not intend to submit the question of such reimbursement to a vote of security holders of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ADDITIONAL PARTICIPANT INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">As described herein, the Participants
in the proxy solicitation are comprised of the Politan Parties, William Jellison and Darlene Solomon.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
principal business address of the Politan Parties is 106 West 56th Street, 10th Floor, New York, New York 10019. The principal business
address of Mr.&nbsp;Jellison is </FONT>9946 W. Gull Lake Dr., Richland, Michigan 49083. The principal business address of Dr.&nbsp;Solomon
is 17 Valley Oak, Portola Valley, CA 94028.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
principal business of Politan is to serve as investment advisor to certain affiliated funds, including the Politan Funds. The principal
business of Politan Management is to serve as the general partner of Politan. The principal business of Politan GP is to serve as the
general partner of certain affiliated funds, including the Politan Funds. The principal occupation of Mr.&nbsp;Koffey is to serve as
the Managing Partner and Chief Investment Officer of Politan and the Managing Member of Politan Management and Politan GP. The principal
business of the Record Stockholder is to invest in securities and serve as record holder of shares of companies in which the Politan
Funds may invest. The principal business of each of the Politan Funds and of Politan Ltd. is to invest in securities. </FONT>The principal
occupation of each of Matthew Hall and Aaron Kapito is to serve as an investment analyst of Politan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan, as the investment adviser
to the Politan Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct
the disposition of) the Politan Group Shares and, therefore, Politan may be deemed to be the beneficial owner of all of the Politan Group
Shares. Of the Politan Group Shares beneficially owned by the Politan Funds, 1,000 shares of Common Stock are held by the Record Stockholder
in record name. The Politan Group Shares collectively represent approximately 8.9% of the outstanding shares of Common Stock based on
53,182,247 shares of Common Stock outstanding as of June 13, 2024, as reported in the Company Proxy Statement. The Koffey Shares collectively
represent approximately 8.9% of the outstanding shares of Common Stock based on an aggregate 53,183,475 shares of Common Stock outstanding,
which consists of 53,182,247 shares of Common Stock outstanding as of June 13, 2024, as reported in the Company Proxy Statement, plus
1,228 RSUs, which are not afforded voting rights for purposes of the 2024 Annual Meeting. Applicable percentage ownership is based on
53,182,247 shares of Common Stock outstanding as of June 13, 2024, adjusted as required by rules&nbsp;promulgated by the SEC. These rules&nbsp;generally
attribute beneficial ownership of securities to persons who possess sole or shared voting power or investment power with respect to those
securities. In addition, the rules&nbsp;include shares of Common Stock issuable pursuant to equity awards that are either currently exercisable
or that will become exercisable or otherwise vest on the earlier of June&nbsp;26, 2024 or the date of the 2024 Annual Meeting. These shares
are deemed to be outstanding and beneficially owned by the person holding such shares for the purpose of computing the percentage ownership
of that person, but they are not treated as outstanding for the purpose of computing the percentage ownership of any other person. As
the general partner of Politan, Politan Management may be deemed to have the shared power to vote or direct the vote of (and the shared
power to dispose or direct the disposition of) all of the Politan Group Shares and, therefore, Politan Management may be deemed to be
the beneficial owner of all of the Politan Group Shares. As the general partner of the Politan Funds, Politan GP may be deemed to have
the shared power to vote or to direct the vote of (and the shared power to dispose or direct the disposition of) all of the Politan Group
Shares, and therefore Politan GP may be deemed to be the beneficial owner of all of the Politan Group Shares. By virtue of Mr.&nbsp;Koffey&rsquo;s
position as the Managing Partner and Chief Investment Officer of Politan and as the Managing Member of Politan Management and Politan
GP, Mr.&nbsp;Koffey may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the
disposition of) all of the Politan Group Shares. By virtue of Mr.&nbsp;Koffey&rsquo;s position as a director on the Board, Mr.&nbsp;Koffey
was granted 1,228 unvested RSUs on June&nbsp;26, 2023. Mr.&nbsp;Koffey may be deemed to have the sole power to vote or direct the vote
of such 1,228 of the Koffey Shares (which are capable of being voted). Therefore, Mr.&nbsp;Koffey may be deemed to be the beneficial owner
of all of the Politan Group Shares and all of the Koffey Shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Except as otherwise indicated
in this Proxy Statement, we believe that the securities of the Company owned by the Participants as described herein have the sole or
shared voting and investment power with respect to all shares of Common Stock that they beneficially own, subject to applicable community
property laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Additionally, Mr.&nbsp;Koffey
owns 1,228 RSUs, which were granted to him by the Company in 2023 in connection with his service as a non-employee director on the Board
and which do not, as of the date hereof, grant Mr.&nbsp;Koffey beneficial ownership of any shares of Common Stock. Mr.&nbsp;Koffey is
entitled to certain compensation in connection with his service as a director on the Board and on the Audit Committee consisting of approximately
$82,500 in cash retainers plus the grant date fair value of the RSUs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Except as otherwise indicated
in this Proxy Statement, the securities of the Company directly or indirectly owned by each of the Participants were purchased with the
capital of the Politan Funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Except as set forth in this
Proxy Statement (including <I>Annex A</I> and the Schedules hereto), (i)&nbsp;during the past 10 years, no Participant has been convicted
in a criminal proceeding (excluding traffic violations or similar misdemeanors); (ii)&nbsp;no Participant directly or indirectly beneficially
owns any securities of the Company; (iii)&nbsp;no Participant owns any securities of the Company which are owned of record but not beneficially;
(iv)&nbsp;no Participant has purchased or sold any securities of the Company during the past two years; (v)&nbsp;no part of the purchase
price or market value of the securities of the Company owned by any Participant is represented by funds borrowed or otherwise obtained
for the purpose of acquiring or holding such securities; (vi)&nbsp;no Participant is, or within the past year was, a party to any contract,
arrangements or understandings with any person with respect to any securities of the Company, including, but not limited to, joint ventures,
loan or option arrangements, puts or calls, guarantees against loss or guarantees of profit, division of losses or profits, or the giving
or withholding of proxies; (vii)&nbsp;no associate of any Participant owns beneficially, directly or indirectly, any securities of the
Company; (viii)&nbsp;no Participant owns beneficially, directly or indirectly, any securities of any parent or subsidiary of the Company;
(ix)&nbsp;no Participant or any of his, her or its associates was a party to any transaction, or series of similar transactions, since
the beginning of the Company&rsquo;s last fiscal year, or is a party to any currently proposed transaction, or series of similar transactions,
to which the Company or any of its subsidiaries was or is to be a party, in which the amount involved exceeds $120,000; (x)&nbsp;no Participant
or any of his, her or its associates has any arrangement or understanding with any person with respect to any future employment by the
Company or its affiliates, or with respect to any future transactions to which the Company or any of its affiliates will or may be a
party; and (xi)&nbsp;no Participant has a substantial interest, direct or indirect, by securities holdings or otherwise in any matter
to be acted on at the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Other than as described in
the &ldquo;<FONT STYLE="text-transform: uppercase">Background of the Solicitation</FONT>&rdquo; section above, to the knowledge of the
Politan Parties there are no material legal proceedings to which any Participant, the Politan Parties, the Politan Nominees or any of
their respective associates are a party adverse to the Company or any of its subsidiaries, or any material legal proceedings in which
any of the Participants, the Politan Parties, the Politan Nominees or any of their respective associates have a material interest adverse
to the Company or any of its subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STOCKHOLDER NOMINATIONS AND PROXY ACCESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Company Proxy Statement
provides the applicable deadlines relating to the nomination of director nominees and stockholder proposals under the advance notice
provisions of the Bylaws for the 2025 Annual Meeting, which are incorporated by reference herein. The Company Proxy Statement provides
the deadlines by which proposals of stockholders intended to be presented at the 2025 Annual Meeting outside the processes of, and pursuant
to, Rule&nbsp;14a-8 or &ldquo;proxy access&rdquo; (<I>i.e.</I>, the procedures for placing a stockholder&rsquo;s proposal or director
nominee in the Company&rsquo;s proxy materials) must be received by the Corporate Secretary in order to be timely. Such deadlines are
also incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">To comply with the universal
proxy rules, Stockholders who intend to solicit proxies in support of director nominees other than the Company&rsquo;s nominees must
provide the requisite written notice to the Company in accordance with Rule&nbsp;14a-19 of the Exchange Act no later than May&nbsp;26,
2025, or if the date of the 2025 Annual Meeting changes by more than 30 calendar days from the date of the one-year anniversary of the
2024 Annual Meeting, then the requisite written notice to the Company must be provided by the later of 60 calendar days prior to the
date of the 2025 Annual Meeting or the 10th calendar day following the day on which public announcement of the date of the 2025 Annual
Meeting is first made by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER MATTERS AND ADDITIONAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">We are unaware of any other
matters to be considered at the 2024 Annual Meeting. However, should other matters, which the Politan Parties are not aware of a reasonable
time before this solicitation, be brought before the 2024 Annual Meeting, the persons named as proxies on the enclosed <B>WHITE universal
proxy card or voting instruction form</B> will vote on such matters in their discretion.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Some banks, brokers and other
nominee record holders may be participating in the practice of &ldquo;householding&rdquo; proxy statements and annual reports. This means
that only one copy of this Proxy Statement may have been sent to multiple Stockholders in your household. We will promptly deliver a
separate copy of the document to you if you contact our proxy solicitor, D.F. King, at the following address or phone number: 48 Wall
Street, New York, New York 10005 or call toll free at (888) 628-8208. If you want to receive separate copies of our proxy materials in
the future, or if you are receiving multiple copies and would like to receive only one copy for your household, you should contact your
bank, broker or other nominee record holder, or you may contact our proxy solicitor at the above address or phone number.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Please refer to the Company
Proxy Statement and annual report for certain information and disclosure required by applicable law. Schedule II of this Proxy Statement
contains information regarding persons who beneficially own more than 5% of the shares and the ownership of the shares by the directors
and management of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
Proxy Statement is dated [</FONT><FONT STYLE="font-family: Marlett">n</FONT>], 2024. You should not assume that the information contained
in this Proxy Statement is accurate as of any date other than such date, and the mailing of this Proxy Statement to Stockholders shall
not create any implication to the contrary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">You
are advised to read this </FONT>Proxy Statement and other relevant documents when they become available because they will contain important
information. You may obtain a free copy of this Proxy Statement and other relevant documents that we file with the SEC at the SEC&rsquo;s
website at www.sec.gov or by calling D.F. King at the address and phone number indicated above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><B>YOUR VOTE IS IMPORTANT,
NO MATTER HOW FEW SHARES OF COMMON STOCK YOU OWN. WE URGE YOU TO SIGN, DATE, AND RETURN THE ENCLOSED WHITE PROXY CARD OR VOTING INSTRUCTION
FORM&nbsp;TODAY TO VOTE &ldquo;FOR&rdquo; WILLIAM JELLISON AND DARLENE SOLOMON TO BE ELECTED TO SERVE AS CLASS&nbsp;II MEMBERS OF THE
BOARD UNTIL THE 2025 ANNUAL MEETING OR UNTIL THEIR RESPECTIVE SUCCESSORS ARE DULY ELECTED AND QUALIFIED AND &ldquo;FOR&rdquo; THE BYLAW
PROPOSAL.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">WE HAVE OMITTED FROM THIS PROXY
STATEMENT CERTAIN DISCLOSURE REQUIRED BY APPLICABLE LAW THAT IS REQUIRED TO BE INCLUDED IN THE COMPANY PROXY STATEMENT RELATING TO THE
2024 ANNUAL MEETING BASED ON OUR RELIANCE ON RULE 14A-5(C)&nbsp;UNDER THE EXCHANGE ACT. THIS DISCLOSURE INCLUDES, AMONG OTHER THINGS,
CURRENT BIOGRAPHICAL INFORMATION ON THE COMPANY&rsquo;S DIRECTORS AND EXECUTIVE OFFICERS,&nbsp;INFORMATION CONCERNING EXECUTIVE COMPENSATION
AND DIRECTOR COMPENSATION,&nbsp;INFORMATION CONCERNING THE BOARD AND ITS COMMITTEES OF THE BOARD,&nbsp;INFORMATION CONCERNING CERTAIN
RELATIONSHIPS AND RELATED PARTY TRANSACTIONS,&nbsp;INFORMATION ABOUT THE COMPANY&rsquo;S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM,&nbsp;INFORMATION
ON HOW TO ATTEND THE 2024 ANNUAL MEETING AND VOTE IN PERSON,&nbsp;INFORMATION CONCERNING THE PROCEDURES FOR SUBMITTING STOCKHOLDER PROPOSALS
AND DIRECTOR NOMINATIONS INTENDED FOR CONSIDERATION AT THE 2025 ANNUAL MEETING AND FOR CONSIDERATION FOR INCLUSION IN THE COMPANY&rsquo;S
PROXY MATERIALS FOR THAT MEETING, AND OTHER IMPORTANT INFORMATION. WE TAKE NO RESPONSIBILITY FOR THE ACCURACY OR COMPLETENESS OF ANY
INFORMATION THAT WE EXPECT TO BE CONTAINED IN THE PRELIMINARY OR DEFINITIVE COMPANY PROXY STATEMENT. EXCEPT AS OTHERWISE NOTED HEREIN,
THE INFORMATION IN THIS PROXY STATEMENT CONCERNING THE COMPANY HAS BEEN TAKEN FROM OR IS BASED UPON DOCUMENTS AND RECORDS ON FILE WITH
THE SEC AND OTHER PUBLICLY AVAILABLE INFORMATION. <B>STOCKHOLDERS ARE DIRECTED TO REFER TO THE COMPANY PROXY STATEMENT FOR THE FOREGOING
INFORMATION. STOCKHOLDERS CAN ACCESS THE COMPANY PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS DISCLOSING THIS INFORMATION, WITHOUT
COST, ON THE SEC&rsquo;S WEBSITE AT WWW.SEC.GOV, OR BY WRITING TO THE COMPANY&rsquo;S CORPORATE SECRETARY, C/O MASIMO CORPORATION, 52
DISCOVERY,&nbsp;IRVINE, CALIFORNIA 92618.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; width: 50%"><FONT STYLE="font-size: 10pt">Politan Capital Management LP</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">[<FONT STYLE="font-family: Marlett">n</FONT>],
    2024</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING
STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The information herein contains
 &ldquo;forward-looking statements.&rdquo; Specific forward-looking statements can be identified by the fact that they do not relate strictly
to historical or current facts and include, without limitation, words such as &ldquo;may,&rdquo; &ldquo;will,&rdquo; &ldquo;expects,&rdquo;
 &ldquo;believes,&rdquo; &ldquo;anticipates,&rdquo; &ldquo;plans,&rdquo; &ldquo;estimates,&rdquo; &ldquo;projects,&rdquo; &ldquo;potential,&rdquo;
 &ldquo;targets,&rdquo; &ldquo;forecasts,&rdquo; &ldquo;seeks,&rdquo; &ldquo;could,&rdquo; &ldquo;should&rdquo; or the negative of such
terms or other variations on such terms or comparable terminology. Similarly, statements that describe our objectives, plans or goals
are forward-looking. Forward-looking statements are subject to various risks and uncertainties and assumptions. There can be no assurance
that any idea or assumption herein is, or will be proven, correct. If one or more of the risks or uncertainties materialize, or if Politan&rsquo;s
underlying assumptions prove to be incorrect, the actual results may vary materially from outcomes indicated by these statements. Accordingly,
forward-looking statements should not be regarded as a representation by Politan that the future plans, estimates or expectations contemplated
will ever be achieved.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain statements and information
included herein have been sourced from third parties. Politan does not make any representations regarding the accuracy, completeness
or timeliness of such third party statements or information. Except as may be expressly set forth herein, permission to cite such statements
or information has neither been sought nor obtained from such third parties. Any such statements or information should not be viewed
as an indication of support from such third parties for the views expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Annex A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION CONCERNING PARTICIPANTS IN THE
SOLICITATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Politan Parties, William
Jellison and Darlene Solomon may be deemed &ldquo;participants&rdquo; under SEC rules&nbsp;in this solicitation. Information regarding
the participants in the solicitation is set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Except as described in the
Proxy Statement, no Participant in this solicitation beneficially owns any securities of the Company or has any personal ownership interest,
direct or indirect, in any securities of the Company. Set forth in this <I>Annex A </I>are transactions in the Company&rsquo;s securities
effected by the participants in this solicitation within the past two years. <FONT STYLE="background-color: white">The source of funding
for these transactions was derived from the respective capital of the Politan Funds. </FONT>The Politan Group Shares and Koffey Shares
(other than the Common Stock held by the Record Stockholder) which the Politan Funds hold in &ldquo;street name&rdquo; may be held in
brokerage custodian accounts which, from time to time in the ordinary course, may utilize margin borrowing in connection with purchasing,
borrowing or holding of securities, and such shares of Common Stock may thereby have been, or in the future may become, subject to the
terms and conditions of such margin debt and terms, together with all other securities held therein. Except as described herein, as of
the date hereof, no part of the purchase price or market value of any securities of the Company described in <I>Annex A</I> are represented
by funds that were borrowed or otherwise obtained for the purpose of acquiring or holding such securities by any participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>PERSONS MAKING THE SOLICITATION AND OTHER PARTICIPANTS:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The name, principal business
address and the principal occupation or employment of the Politan Parties and the other participants in this solicitation is set forth
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>POLITAN</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan is a Delaware limited
partnership whose principal business address is 106 West 56th Street, 10th Floor, New York, New York 10019. The principal business of
Politan is to serve as investment advisor to certain affiliated funds, including the Politan Funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>POLITAN MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan Management is a Delaware
limited liability company whose principal business address is 106 West 56th Street, 10th Floor, New York, New York 10019. The principal
business of Politan Management is to serve as the general partner of Politan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>POLITAN GP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan GP is a Delaware limited
liability company whose principal business address is 106 West 56th Street, 10th Floor, New York, New York 10019. The principal business
of Politan GP is to serve as the general partner of certain affiliated funds, including the Politan Funds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>QUENTIN KOFFEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Quentin Koffey&rsquo;s principal
business address is 106 West 56th Street, 10th Floor, New York, New York 10019. Mr.&nbsp;Koffey is a United States citizen. The principal
occupation of Mr.&nbsp;Koffey is to serve as the Managing Partner and Chief Investment Officer of Politan and the Managing Member of
Politan Management and Politan GP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>RECORD STOCKHOLDER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The Record Stockholder is a
New York limited liability company whose principal business address is 106 West 56th Street, 10th Floor, New York, New York 10019. The
principal business of the Record Stockholder is to invest in securities and serve as the record holder of shares of companies in which
the Politan Funds may invest.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>POLITAN LTD.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan Ltd. is an exempted
company under the laws of the Cayman Islands, whose principal business address is 106 West 56th Street, 10th Floor, New York, New York
10019. The principal business of Politan Ltd. is to invest in securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>POLITAN MASTER FUND</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan Master Fund is an exempted
limited partnership organized under the laws of the Cayman Islands, whose principal business address is 106 West 56th Street, 10th Floor,
New York, New York 10019. The principal business of Politan Master Fund is to invest in securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>POLITAN LP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan LP is Delaware limited
partnership, whose principal business address is 106 West 56th Street, 10th Floor, New York, New York 10019. The principal business of
Politan LP is to invest in securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>POLITAN OFFSHORE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Politan Offshore is an exempted
company organized under the laws of the Cayman Islands, whose principal business address is 106 West 56th Street, 10th Floor, New York,
New York 10019. The principal business of Politan Offshore is to invest in securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>AARON KAPITO</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Aaron Kapito&rsquo;s principal
business address is 106 West 56th Street, 10th Floor, New York, New York 10019. Mr.&nbsp;Kapito is a United States citizen. The principal
occupation of Mr.&nbsp;Kapito is to serve as an investment analyst of Politan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>MATTHEW HALL</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Matthew Hall&rsquo;s principal
business address is 106 West 56th Street, 10th Floor, New York, New York 10019. Mr.&nbsp;Hall is a Canadian citizen and permanent United
States resident. The principal occupation of Mr.&nbsp;Hall is to serve as an investment analyst of Politan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>WILLIAM JELLISON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">William
Jellison&rsquo;s </FONT>principal business address is 9946 W. Gull Lake Dr., Richland, Michigan 49083. Mr.&nbsp;Jellison is a United
States citizen. The principal occupation of Mr.&nbsp;Jellison is serving on the Boards of Directors of Young Innovations,&nbsp;Inc.,
Avient Corporation (NYSE: AVNT) and Anika Therapeutics,&nbsp;Inc. (NASDAQ: ANIK) and serving as an independent business consultant and
M&amp;A Advisor for Astor Place Holdings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>DARLENE SOLOMON</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Darlene
Solomon&rsquo;s </FONT>principal business address is 17 Valley Oak, Portola Valley, CA 94028. Dr.&nbsp;Solomon is a United States citizen.
The principal occupation of Dr.&nbsp;Solomon is serving on the Boards of Directors of Materion Corporation (NYSE: MTRN) and Novanta Inc
(NASDAQ: NOVT).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SCHEDULE I</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TRANSACTIONS IN SECURITIES OF THE COMPANY DURING
THE PAST TWO YEARS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>POLITAN CAPITAL PARTNERS MASTER FUND LP</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 51%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nature
    of <BR>
    Transaction</FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of Common Stock Purchased / (Sold)</FONT></TD>
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
    of Purchase / Sale</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">37,299</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/17/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">42,639</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/18/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62,294</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/19/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">62,750</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/20/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">60,097</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/23/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31,133</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/24/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">123,195</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/25/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">54,943</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/26/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,200</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/27/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">31,590</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5/31/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/1/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">39,474</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/2/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">70,995</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/3/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">32,037</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/6/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">44,458</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/7/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">48,901</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/8/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">50,604</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/9/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">97,566</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/10/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">258,720</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/13/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">79,180</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/14/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8,198</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/16/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">34,495</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/23/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19,680</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/24/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">30,883</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/27/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">151,859</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/28/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">148,160</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/29/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">124,057</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/30/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/1/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/5/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,800</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/6/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">21,500</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/7/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/8/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,020</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/13/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">236,651</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/18/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">151,029</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/19/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107,389</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/20/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">111,988</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/21/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7/22/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">425,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/10/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/10/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">350,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/11/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">100,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/11/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">315,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/12/22</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 51%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nature
    of <BR>
    Transaction</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
    of Common Stock Purchased / (Sold)</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 24%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
    of Purchase / Sale</FONT></TD></TR>

<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 51%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">52,500</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center; width: 24%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/12/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">335,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/15/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">75,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/15/22</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">197,585</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/16/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8/23/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale
    of OTC Physically-Settled Total Return Swap</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4,294,369)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/23/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,294,369</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9/23/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3,253</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/2/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20,590</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/5/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">29,000</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/6/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9,196</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/7/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17,804</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/8/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14,400</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/9/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchase
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,195</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/12/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10,344)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12/15/2022</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sale
    of Common Stock</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(26,445)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4/12/2023</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The transactions with respect
to which Mr.&nbsp;Koffey may be deemed to be a beneficial owner by virtue of his position as the Managing Partner and Chief Investment
Officer of Politan and as the Managing Member of Politan Management and Politan GP have been set forth above. The transaction with respect
to which Mr.&nbsp;Koffey may be deemed to be a beneficial owner by virtue of his position as a director has been set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Quentin Koffey</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 51%; border: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nature
    of <BR>
    Transaction</FONT></TD>
    <TD STYLE="width: 25%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RSUs
    Granted</FONT></TD>
    <TD STYLE="width: 24%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date
    of Grant</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Grant
of RSUs to non-employee director<SUP>4</SUP></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,228</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6/26/2023</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Mr.&nbsp;Jellison and Dr.&nbsp;Solomon
have had no transactions with respect to the Company&rsquo;s securities during the past two years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;<SUP>4</SUP> Each year on the date of the Company&rsquo;s annual
meeting of stockholders, each non-employee director is granted an award of RSUs with respect to shares of Common Stock having a grant
date fair value of $200,000, rounded down to the nearest whole share, which will vest on the earlier of the first anniversary of the
grant date or the date of the next annual meeting of Stockholders or upon any earlier change in control of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>SCHEDULE II</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
AND MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="background-color: white">The
following table is reprinted from the Company Proxy Statement and contains information regarding persons who beneficially own more than
5% of the shares of Common Stock and the ownership of the shares by the directors and executive officers of the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Beneficial Ownership of <BR> Common Stock</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number of<BR> Shares</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percent of<BR> Class</B></FONT><B><FONT STYLE="font-size: 10pt"><SUP>(1)</SUP></FONT></B></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif">5% Stockholders:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 78%; font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joe Kiani</FONT><FONT STYLE="font-size: 10pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">4,937,217</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">9.1</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">BlackRock,&nbsp;Inc.</FONT><FONT STYLE="font-size: 10pt"><SUP>(3)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5,659,131</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">10.6</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Vanguard Group</FONT><FONT STYLE="font-size: 10pt"><SUP>(4)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,781,318</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">9.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Politan Capital Management, LP</FONT><FONT STYLE="font-size: 10pt"><SUP>(5)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,713,518</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">FMR, LLC</FONT><FONT STYLE="font-size: 10pt"><SUP>(6)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6,927,572</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">13.0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>OWNERSHIP OF OUR STOCK</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Beneficial Ownership of <BR> Common Stock</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; border-bottom: Black 1pt solid">Name</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Number of <BR> Shares</TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Percent of <BR> Class</B></FONT><B><FONT STYLE="font-size: 10pt"><SUP>(1)</SUP></FONT></B></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: italic 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 13pt">Named Executive Officers, Directors and Director Nominees:</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 78%; font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joe Kiani</FONT><FONT STYLE="font-size: 10pt"><SUP>(2)</SUP></FONT></TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">4,937,217</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; font: 10pt Times New Roman, Times, Serif; text-align: right">9.1</TD><TD STYLE="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Micah Young</FONT><FONT STYLE="font-size: 10pt"><SUP>(7)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52,482</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bilal Muhsin</FONT><FONT STYLE="font-size: 10pt"><SUP>(8)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">177,150</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tao Levy</FONT><FONT STYLE="font-size: 10pt"><SUP>(9)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">65,190</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tom McClenahan</FONT><FONT STYLE="font-size: 10pt"><SUP>(10)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">112,819</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 30pt">Michelle Brennan</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 30pt">Robert Chapek</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quentin Koffey</FONT><FONT STYLE="font-size: 10pt"><SUP>(5)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,713,518</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.9</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Craig Reynolds</FONT><FONT STYLE="font-size: 10pt"><SUP>(11)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">17,406</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-indent: -10pt; padding-left: 30pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Christopher Chavez</FONT><FONT STYLE="font-size: 10pt"><SUP>(12)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</TD><TD STYLE="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 3pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Shares Beneficially Owned By Current Executive Officers and Directors (10 persons)</FONT><FONT STYLE="font-size: 10pt"><SUP>(13)</SUP></FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">10,078,843</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">18.5</TD><TD STYLE="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left">*</TD><TD STYLE="text-align: justify">Less than one percent.</TD>
</TR></TABLE>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(1)</SUP></FONT></TD><TD STYLE="text-align: justify">For each person and group included in this table, percentage
ownership is calculated by dividing the number of shares beneficially owned by such person or group by the sum of shares of Common Stock
outstanding as of May&nbsp;25, 2024, plus the number of shares of Common Stock that such person or group had the right to acquire within
60 days after May&nbsp;25, 2024.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(2)</SUP></FONT></TD><TD STYLE="text-align: justify">Comprised of 366,055&nbsp;shares of Common Stock held directly,
51,735&nbsp;shares of Common Stock held by Mr.&nbsp;Kiani&rsquo;s spouse, 2,250,291&nbsp;shares of Common Stock held in one trust for
which Mr.&nbsp;Kiani is the sole trustee, 1,271,350&nbsp;shares of Common Stock held in four trusts for which Mr.&nbsp;Kiani is not the
trustee, options to purchase 987,420&nbsp;shares of Common Stock that were exercisable as of May&nbsp;25, 2024 or that have or will become
exercisable within 60 days after May&nbsp;25, 2024, and 10,366 shares of Common Stock held for the Reporting Person&rsquo;s account under
the Masimo Retirement Savings Plan. As of May&nbsp;25, 2024, an aggregate of 2,447,778 shares of Common Stock owned by a family trust
and beneficially owned by Mr.&nbsp;Kiani were pledged as collateral for personal loans. See &ldquo;Executive Compensation - Compensation
Discussion and Analysis - Other Compensation Policies and Practices - Hedging and Pledging Policies&rdquo; included in the Company Proxy
Statement.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(3)</SUP></FONT></TD><TD STYLE="text-align: justify">BlackRock,&nbsp;Inc. (&ldquo;BlackRock&rdquo;) filed a Schedule
13G/A on January&nbsp;24, 2024, reporting that it had sole voting power with respect to 5,491,069 shares of Common Stock, sole dispositive
power with respect to 5,659,131 shares of Common Stock , and beneficial ownership of an aggregate of 5,659,131 shares of Common Stock
in its capacity as a parent holding company or control person in accordance with Rule&nbsp;13d-1(b)(1)(ii)(G)&nbsp;under the Exchange
Act. BlackRock filed an additional Schedule 13G/A on June&nbsp;7, 2024, reporting that, as of May&nbsp;31, 2024, it had sole voting power
with respect to 8,311,206 shares of Common Stock, sole dispositive power with respect to 8,480,230 shares of Common Stock, and beneficial
ownership of an aggregate of 8,480,230 shares of Common Stock in its capacity as a parent holding company or control person in accordance
with Rule&nbsp;13d-1(b)(1)(ii)(G)&nbsp;under the Exchange Act. BlackRock&rsquo;s address is 50 Hudson Yards, New York, New York 10001.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(4)</SUP></FONT></TD><TD STYLE="text-align: justify">The
Vanguard Group (&ldquo;Vanguard&rdquo;) filed a Schedule 13G/A on February&nbsp;13, 2024, reporting that it had shared voting power with
respect to 24,155 shares of Common Stock, sole dispositive power with respect to 4,675,240 shares of Common Stock , shared dispositive
power with respect to 106,078 shares of Common Stock and beneficial ownership of an aggregate of 4,781,318 shares of Common Stock in
its capacity as an investment adviser in accordance with Rule&nbsp;13d-1(b)(1)(ii)(E)&nbsp;under the Exchange Act. Vanguard&rsquo;s address
is 100 Vanguard Blvd., Malvern, PA 19355.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(5)</SUP></FONT></TD><TD STYLE="text-align: justify">Includes shares of our common stock held by Politan Capital
Management LP (&ldquo;Politan LP&rdquo;), Politan Capital Management GP LLC (&ldquo;Politan Management&rdquo;); Politan Capital Partners
GP LLC (&ldquo;Politan GP&rdquo;); and Quentin Koffey (together with Politan LP, Politan Management and Politan GP, &ldquo;Politan&rdquo;).
Politan filed a Schedule 13D/A on June&nbsp;3, 2024, reporting that it had shared voting and dispositive power with respect to 4,713,518
shares of Common Stock, and beneficial ownership of an aggregate of 4,713,518 shares of Common Stock. Politan&rsquo;s address is 106
West 56th Street, 10th Floor, New York, New York 10019.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>(6)</SUP></TD><TD STYLE="text-align: justify">FMR LLC (&ldquo;FMR&rdquo;) and Abigail P. Johnson filed a Schedule 13G/A on February&nbsp;9, 2024,
                                                                                           reporting that FMR and Ms.&nbsp;Johnson had sole dispositive power with respect to 6,927,572 shares of Common Stock in its capacity
                                                                                           as a parent holding company in accordance with Rule&nbsp;13d-1(b)(1)(ii)(G)&nbsp;under the Exchange Act. FMR&rsquo;s address is 245
                                                                                           Summer Street, Boston, Massachusetts 02210.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(7)</SUP></FONT></TD><TD STYLE="text-align: justify">Comprised of 10,536&nbsp;shares of Common Stock held directly
and options to purchase 41,946&nbsp;shares of Common Stock that are exercisable within 60 days after May&nbsp;25, 2024.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(8)</SUP></FONT></TD><TD STYLE="text-align: justify">Comprised of 17,270&nbsp;shares of Common Stock held directly
and options to purchase 159,880&nbsp;shares of Common Stock that are exercisable within 60 days after May&nbsp;25, 2024.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif"><SUP>(9)</SUP></FONT></TD><TD STYLE="text-align: justify">Comprised of 11,208&nbsp;shares of Common Stock held directly
and options to purchase 53,982&nbsp;shares of Common Stock that are exercisable within 60 days after May&nbsp;25, 2024.</TD>
</TR></TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">Your vote is important. No
matter how many shares of Common Stock you own, please give us your proxy <B>FOR</B> the election of the Politan Nominees and in accordance
with our recommendations on the other proposals on the agenda for the 2024 Annual Meeting by <B>SIGNING, DATING AND MAILING</B> the enclosed
<B>WHITE universal proxy card or voting instruction form TODAY </B>in the envelope provided (no postage is required if mailed in the
United States).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>If
any of your shares of Common Stock are held in the name of a broker, only it can vote such shares of Common Stock and only upon receipt
of your specific instructions. </B></FONT>Depending upon your broker, you may be able to vote either by toll-free telephone or by the
Internet. Please refer to the enclosed voting form for instructions on how to vote electronically. You may also vote by signing, dating
and returning the enclosed <B>WHITE </B>voting instruction form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">If you have any questions or
require any additional information concerning this Proxy Statement, please contact D.F. King using the contact information set forth
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="padding: 3pt 5pt; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>If you have any questions, require assistance
    in voting your <B>WHITE universal proxy card or voting instruction form</B>,</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>or need additional copies of Politan&rsquo;s
    proxy materials,</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>please contact D.F. King using the contact
    information provided here:</I></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>D.F.&nbsp;King&nbsp;&amp; Co.,&nbsp;Inc.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>48 Wall Street</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, New York 10005</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Stockholders call toll-free: (888) 628-8208</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Banks and Brokers call: (212) 269-5550</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>By Email: MASI@dfking.com</B></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><B>PRELIMINARY COPY SUBJECT TO COMPLETION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><B>DATED JUNE 20, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WHITE UNIVERSAL PROXY CARD OR VOTING INSTRUCTION
FORM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>Masimo
Corporation</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>2024 ANNUAL MEETING OF <FONT STYLE="text-transform: uppercase">STOCKHOLDERS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THIS PROXY IS SOLICITED ON BEHALF OF POLITAN
CAPITAL MANAGEMENT LP <FONT STYLE="text-transform: uppercase">and the other participants in its PROXY solicitation</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THE BOARD OF DIRECTORS OF MASIMO CORPORATION
IS NOT SOLICITING THIS PROXY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The undersigned appoints Edward
McCarthy, Richard Brand and Quentin Koffey, and each of them, as attorneys and agents with full power of substitution to vote all shares
of common stock (the &ldquo;Common Stock&rdquo;) of Masimo Corporation (the &ldquo;Company&rdquo; or &ldquo;Masimo&rdquo;) which the
undersigned would be entitled to vote if personally present at the 2024 annual meeting of stockholders of the Company scheduled to be
held at 2:00 p.m.&nbsp;Pacific Daylight Time on July&nbsp;25, 2024, at the Masimo Corporation Headquarters located at 52 Discovery,&nbsp;Irvine,
California 92618 (including any adjournments or postponements thereof and any meeting called in lieu thereof, the &ldquo;2024 Annual
Meeting&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">The undersigned hereby revokes
any other proxy or proxies heretofore given to vote or act with respect to the shares of Common Stock of the Company held by the undersigned,
and hereby ratifies and confirms all action the herein named attorneys and proxies, their substitutes, or any of them may lawfully take
by virtue hereof. If properly executed, this Proxy will be voted as directed on the reverse and in the discretion of the herein named
attorneys and proxies or their substitutes with respect to any other matters as may properly come before the 2024 Annual Meeting that
are unknown to Politan Capital Management LP (&ldquo;Politan&rdquo;) a reasonable time before this solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THIS
PROXY WILL BE VOTED AS DIRECTED. IF NO DIRECTION IS INDICATED WITH RESPECT TO THE PROPOSALS ON THE REVERSE, THIS PROXY WILL BE VOTED
<FONT STYLE="text-transform: uppercase">&ldquo;for&rdquo; </FONT>THE TWO <FONT STYLE="text-transform: uppercase">Politan </FONT>NOMINEES
AND &ldquo;WITHHOLD&rdquo; ON THE TWO COMPANY NOMINEES, &ldquo;FOR&rdquo; PROPOSAL NO. 2, </B></FONT><B>&ldquo;AGAINST&rdquo; PROPOSAL
NO. 3 AND &ldquo;FOR&rdquo; PROPOSAL NO. 4.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">This Proxy will be valid until
the completion of the 2024 Annual Meeting. This Proxy will only be valid in connection with Politan&rsquo;s solicitation of proxies for
the 2024 Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>IMPORTANT: PLEASE SIGN, DATE, AND MAIL THIS
PROXY CARD PROMPTLY!</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CONTINUED AND TO BE SIGNED ON REVERSE SIDE</B></P>

<P STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><B>PRELIMINARY COPY SUBJECT TO COMPLETION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><B>DATED JUNE 20, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>WHITE UNIVERSAL PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><FONT STYLE="font-family: Wingdings">&#120;</FONT> Please mark vote as in this example</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>POLITAN STRONGLY RECOMMENDS THAT STOCKHOLDERS
VOTE &ldquo;FOR&rdquo; THE TWO POLITAN NOMINEES AND &ldquo;WITHHOLD&rdquo; ON THE TWO COMPANY NOMINEES LISTED BELOW IN PROPOSAL NO. 1.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>YOU MAY&nbsp;SUBMIT VOTES &ldquo;FOR&rdquo;
UP TO TWO NOMINEES IN TOTAL. YOU ARE PERMITTED TO VOTE FOR LESS THAN TWO NOMINEES<I>. </I>IMPORTANTLY,&nbsp;IF YOU MARK MORE THAN TWO
 &ldquo;FOR&rdquo; BOXES WITH RESPECT TO THE ELECTION OF DIRECTORS, ALL OF YOUR VOTES FOR THE ELECTION OF DIRECTORS WILL BE DEEMED INVALID.
IF YOU MARK FEWER THAN TWO &ldquo;FOR&rdquo; BOXES WITH RESPECT TO THE ELECTION OF DIRECTORS, THIS PROXY CARD, WHEN DULY EXECUTED, WILL
BE VOTED ONLY &ldquo;FOR&rdquo; THOSE NOMINEES YOU HAVE SO MARKED.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Election of two nominees
    to serve as directors until the Company&rsquo;s 2025 annual meeting of stockholders and until their successors have been duly elected
    and qualified.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; width: 54%; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.9pt; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>POLITAN
    NOMINEES</B></FONT></TD>
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    <TD STYLE="border-bottom: Black 1pt solid; width: 23%; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WITHHOLD</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; padding-bottom: 6.5pt; padding-left: 17.6pt; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)&nbsp;William
    Jellison</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; padding-bottom: 6.5pt; padding-left: 17.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)&nbsp;Darlene
    Solomon</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; width: 54%; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.9pt; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>COMPANY
    NOMINEES OPPOSED BY POLITAN</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 23%; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FOR</B></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 23%; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WITHHOLD</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: top; padding-bottom: 6.5pt; padding-left: 17.6pt; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">a)
    Christopher G. Chavez</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center; border-right: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; vertical-align: bottom; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: top; padding-bottom: 6.5pt; padding-left: 17.6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">b)
    Joe Kiani</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; vertical-align: bottom; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="vertical-align: bottom; padding-right: 5.9pt; padding-bottom: 6.5pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>POLITAN RECOMMENDS A VOTE &ldquo;FOR&rdquo;
PROPOSAL NO. 2.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify">To ratify the selection of Grant Thornton LLP as the Company&rsquo;s
independent registered public accounting firm for the fiscal year ending December&nbsp;28, 2024.</TD>
</TR></TABLE>


<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 30%; text-align: center">&#9744; FOR</TD><TD STYLE="text-align: center; width: 8%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 27%; text-align: center">&#9744; AGAINST</TD><TD STYLE="text-align: center; width: 8%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 27%; text-align: center">&#9744; ABSTAIN</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>POLITAN RECOMMENDS A VOTE &ldquo;AGAINST&rdquo;
PROPOSAL NO. 3.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">An
advisory vote to approve the compensation of the Company&rsquo;s named executive officers.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="font-size: 10pt; width: 30%; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT> <FONT STYLE="font-size: 10pt">FOR</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 27%; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT> <FONT STYLE="font-size: 10pt">AGAINST</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 8%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 27%; text-align: center"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&#168;</FONT> <FONT STYLE="font-size: 10pt">ABSTAIN</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>POLITAN RECOMMENDS A VOTE &ldquo;FOR&rdquo;
PROPOSAL NO. 4.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Politan Parties&rsquo; proposal to
repeal any provision of, or amendment to, the Bylaws, adopted by the Board without Stockholder approval subsequent to April&nbsp;20,
2023 and up to and including the date of the 2024 Annual Meeting.&nbsp;</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR>
    <TD STYLE="width: 30%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
    </FONT><FONT STYLE="font-size: 10pt">FOR</FONT></TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 27%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
    </FONT><FONT STYLE="font-size: 10pt">AGAINST</FONT></TD>
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 27%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="font-family: Wingdings">&#168;</FONT>
    </FONT><FONT STYLE="font-size: 10pt">ABSTAIN</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">NOTE: In their discretion, the proxies are authorized to vote upon
such other business as may properly come before the meeting or any adjournment or postponement thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This Proxy is governed by the laws of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; border-collapse: collapse; width: 100%">
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 6%"><FONT STYLE="font-size: 10pt">DATED:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 44%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(Signature)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(Signature, if held jointly)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="font-size: 10pt; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">(Title)</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">WHEN SHARES ARE HELD JOINTLY, JOINT OWNERS SHOULD
EACH SIGN. EXECUTORS, ADMINISTRATORS, TRUSTEES,&nbsp;ETC., SHOULD INDICATE THE CAPACITY IN WHICH THEY ARE SIGNING. PLEASE SIGN EXACTLY
AS NAME APPEARS ON THIS PROXY.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>WHITE UNIVERSAL PROXY CARD</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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