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A_R1_01645222 EFTA02512458 2017 Revs: $5B & =ositive FCF $133M — 5-6x trailing revs certainly possible, =mplying $25B+ valuation (In our SOTP for Vivendi we have music at 4x sales or €24bn) Ordinary Shares Outstanding: 176,976,280 reported as of =/22/18 Valuation: At high =nd of recent trading, implie
drawal at Custodian). This potential delay will more than =ikely affect the initial Locate Liquidity for a few days. Happy to coordinate calls with John Egan, BAML's =hort Analytics Specialist Expected Trading Dynamics Our understanding is that on the =orning of trading, the Floor Specialist will act lik
_18> now publicly ava=lable 2017 Revs: $=B & Positive FCF $133M — 5-6x trailing revs certainly possible= implying $25B+ valuation (In our SOTP for Vivendi we ha=e music at 4x sales or €24bn) Ordinary Shares Outstanding:=/b> 176,976,280 reported as of 2/22/18 Valuation: At high end of rece=t trading, im
drawal at Custodian)= This potential delay will more than likely affect the initial Locate Liqu=dity for a few days. Happy to coordinate calls with John Egan, BAML=E2 s Short Analytics Specialist Expe=ted Trading Dynamics 2 EFTA_R1_01645737 EFTA02512786 * Our understanding is that on the morning of
_18> now publicly available 2017 Revs: $58 & Positive FCF $133M — 5-6x trailing revs certainly possible, implying $258+ valuation (In our SOTP for Vivendi we have music at 4x sales or E24bn) Ordinary Shares Outstanding: 176,976,280 reported as of 2/22/18 Valuation: At high end of recent trading, implie
drawal at Custodian). This potential delay will more than likely affect the initial Locate Liquidity for a few days. Happy to coordinate calls with John Egan, BAML's Short Analytics Specialist Expected Trading Dynamics • Our understanding is that on the morning of trading, the Floor Specialist will act
Entities connected to both Vivendi and John Egan

Jeffrey Epstein
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Richard Kahn
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Stockholm
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