Epstein Secrets

al margin be posted if/when necessary. Guarantor: Minimum Net Worth, Minimum Liquidity, Minimum Liquidity at DB Borrower: To main 100% ownership of Navarro interest in the Carolina Panthers at all times. No additional indebtedness. Credit One : [TBD] Other Assets: Net Worth, [XX%] decline in eamings

For internal use only EFTA01394832 9. Mitigating factor(s) Sherman Financial Group 1) RDC alert re: NY Settlement Mitigants: • On 3/6/2018, Navarro confirmed to MD Joanne Jensen that everything has been settled for this case — fines are paid, subject cases were exited accordingly and they conti

erview: • Joanne Jensen has known Ben Navarro since 1993, when she worked for him on the Institutional Fixed Income Sales desk at Citi • In 2008, Joanne provided Ben with $440MM for the acquisition MGIC and Radian's interest in Sherman • In 2013, Joanne introduce Ben to DB WM client Jules Kroll as a

posted if/when necessary. Covenants Guarantor: Minimum Net Worth, Minimum Liquidity, Minimum Liquidity at DB Borrower: To main 100% ownership of Navarro interest in the Carolina Panthers at all times. No additional indebtedness. Credit One : [TBD] Other Assets: Net Worth, [XX%] decline in earnings

f $109MM KBRA One of 10 Nationally Recognized Statistical Rating Organizations (NRSROs) and one of only 5 fully licensed in all rating categories Navarro purchased KBRA in 2015. Since acquisition the company has expanded its areas of ratings and increased revenue 30% Has issued 9,000+ ratings to date

ip Overview: Joanne Jensen has known Ben Navarro since 1993, when she worked for him on the Institutional Fixed Income Sales desk at Citi In 2008, Joanne provided Ben with $440MM for the acquisition MGIC and Radian's interest in Sherman In 2013, Joanne introduce Ben to DB WM client Jules Kroll as a p

tizations, and sales of residential mortgages to institutional clients • Top 10 salesperson on Wall Street, focused on credit-sensitive assets • Navarro spent three years with Goldman Sachs on the Whole Loan and Agency MBS desks • Started his career at Chemical Bank, where he completed the credit-t

rview: • Joanne Jensen has known Ben Navarro since 1993, when she worked for him on the Institutional Fixed Income Sales desk at Citi • In 2008, Joanne provided Ben with $440MM for the acquisition MGIC and Radian's interest in Sherman • In 2013, Joanne introduce Ben to DB WM client Jules Kroll as