Epstein Secrets

Planning , Inc. 1980 -1996 49 27.7% AMY (two-year holding period transactions) 1980 -1997 243 22.3% Hertzel — Smith 1980 -1987 106 20.1% Johnson 1991 - 1995 72 20.0% Our methodology for determining an appropriate adjustment for lack of marketability included the following steps: 1. Exam

Determination," The Value Examiner, July/August 2004, (iii) Estate of McCord, 120 T.C. No. 13, May 2003, and (iv) Bajaj, Denis, Ferris, and Sarin, "Finn Value and Marketability Discounts," 27 J. Corp. Law 89, Fall 2001. CONFIDENTIAL 1 WTAS LLC 71 EFTA00307466 WTAS ALIPHCOM - COMMON EQUITY VALUATION R

Planning , Inc. 1980 -1996 49 27.7% AMY (two-year holding period transactions) 1980 -1997 243 22.3% Hertzel — Smith 1980 -1987 106 20.1% Johnson 1991 - 1995 72 20.0% Our methodology for determining an appropriate adjustment for lack of marketability included the following steps: 1. Exam

Determination," The Value Examiner, July/August 2004, (iii) Estate of McCord, 120 T.C. No. 13, May 2003, and (iv) Bajaj, Denis, Ferris, and Sarin, "Finn Value and Marketability Discounts," 27 J. Corp. Law 89, Fall 2001. CONFIDENTIAL 1 WTAS LLC 71 EFTA00307365 WTAS ALIPHCOM - COMMON EQUITY VALUATION R

Planning , Inc. 1980 -1996 49 27.7% AMY (two-year holding period transactions) 1980 -1997 243 22.3% Hertzel — Smith 1980 -1987 106 20.1% Johnson 1991 - 1995 72 20.0% Our methodology for determining an appropriate adjustment for lack of marketability included the following steps: 1. Exam

Determination," The Value Examiner, July/August 2004, (iii) Estate of McCord, 120 T.C. No. 13, May 2003, and (iv) Bajaj, Denis, Ferris, and Sarin, "Finn Value and Marketability Discounts," 27 J. Corp. Law 89, Fall 2001. CONFIDENTIAL 1 WTAS LLC 71 EFTA00307264 WTAS ALIPHCOM - COMMON EQUITY VALUATION R