Epstein Secrets

CONFIDENTIAL - FOR DISCUSSION PURPOSES ONLY End Notts 1 RIN II Ltd. is a Cayman Islands exempted company. 2 Source: -Infrastructure Default and Recovery Rates 1983-2016", Moody's. July 2017. Past performance is not a guarantee of futur

016. Data is based on State Budget Solutions' calculations. 10 Prior to any Refinancing For summary purposes only. and qualified in its entirety by the definitive Private Placement Memorandum of the Issuer. 11 Stbject to certain conditions as described in the Private Placement Memorandum. Please see the Private Placement Memorandum for

Amount Ramp-up Period Target Equity IRR Base Advisory Fee Subordinated Advisory Fee Incentive Fee Hurdle Incentive Advisory Fee RIN II Ltd., a Cayman Islands exempted company, as issuer of the Preferred Shares and co-issuer of the Senior Notes RIN II LLC, a Delaware limited liability company, as co-issue

quity IRR • 20% after exceeding the Incentive Fee Hurdle (1) Prior to any Refinancing. For summary purposes only, and qualified in its entirety by the definitive Private Placement Memorandum of the Issuer. (2) Please see the Private Placement memorandurn for further detail. (3) The target return of the Preferred Shares (as stated in the

CONFIDENTIAL - FOR DISCUSSION PURPOSES ONLY End Notts 1 RIN II Ltd. is a Cayman Islands exempted company. 2 Source: -Infrastructure Default and Recovery Rates 1983-2016", Moody's. July 2017. Past performance is not a guarantee of futur

016. Data is based on State Budget Solutions' calculations. 10 Prior to any Refinancing For summary purposes only. and qualified in its entirety by the definitive Private Placement Memorandum of the Issuer. 11 Stbject to certain conditions as described in the Private Placement Memorandum. Please see the Private Placement Memorandum for