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rdinate calls with John Egon, 8.4IVIL's Short Analytic Specialist Expected Trading Dynamics • Our understanding is that on the morning of trading, the Floor Specialist will act like a stabilizing agent normallywould (with banks advising) to help match supply and demand • The opening is likely to be very delayed as
I 411,1 414 Olga h44•4,44441N4 I Other tidbits • No deal roadshow, No underwriters • No fixed M of securities for sale • No lock-ups except Tencent Music Entertainment & Tencent (holding for at least 3 yrs from 12/15/17), who own - 7.5% • Majority Ownership by Founders - Daniel Elk controls 37.3% of shares and Martin Lorenu
coordinate calls with John Epan, BMOCs Short ArlOiyikS Specialist Expected Trading Dynamics • Our understanding is that on the morning of trading, the Floor Specialist will act Gke a stabilizing agent normally would (with banks advising) to help match supply and demand • The opening is likely to be very delayed as
NII'w1MM.g dNlViolin a. 1, 31 I k Other tidbits • No deal roadshow, No underwriters • No fixed a of securities for sale • No lock-ups except Tencent Music Entertainment & Tencent (holding for at least 3 yrs from 12/15/17), who own -7.5% • MajorityOwnership by Founders- Daniel Elk controls 37.3% of shares and Martin Lorentzen
oordinate 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 like a stabilizing agent normally would (with banks advising) to help match supply and demand • The opening is likely to be very delayed
63434/d494294dfl.htmtfrom494294_18> Other tidbits • No deal roadshow, No underwriters • No fixed q of securities for sale • No lock-ups except Tencent Music Entertainment & Tencent (holding for at least 3 yrs from 12/15/17), who own —7.5% • Majority Ownership by Founders - Daniel Elk controls 37.3% of shares and Martin Lorent
Entities connected to both the Floor Specialist and Tencent Music Entertainment & Tencent

Jeffrey Epstein
PERSON
Richard Kahn
PERSONAmanda
PERSONBull/Bear Views
ORGANIZATIONPierce, Fenner & Smith
ORGANIZATIONGlobal Markets
ORGANIZATIONVivendi
ORGANIZATIONAllen&Co
PERSON
Woody Allen
PERSON
Tencent
ORGANIZATION
Stockholm
LOCATIONDavid Fiszel
PERSON
Global Research
ORGANIZATIONLyft/Uber/Airbnb
ORGANIZATIONSootily
ORGANIZATIONJohn Egan
PERSONBolA Merrill Lynch Global Research
ORGANIZATIONTentative): Company
ORGANIZATIONNew Music & Back Catalog
ORGANIZATIONFinancials - Fl
ORGANIZATION