Epstein Secrets

Turning cash flow positive Improving industry dynamics Company Profile: • A leading provider of renewable fuels that primarily operates in the Western US • Vertically integrated operations spanning production, storage and delivery • Low-cost provider while demand growth is outpacing supply Sele

nancial Engineering a High Growth/ International a Hedges 0 10 20 30 40 so so (months) Investment Horizon • minimum • Maximum Although Deep Value, Turnaround investments will represent the main focus of the portfolio, GP does make shorter-term opportunistic investments Financial Engineering

years 15 EFTA_R1_0 1947049 EFTA02672833 Strategy a Execution Investment Buckets Hedges Ugh Growth/International Financial Engineering Deep, Deep Value "Turnaround" • Deep, Deep Value "Turnaround" • Financial Engineering a High Growth/ International a Hedges 0 10 20 30 40 so so (months)

rning cash flow positive • Improving industry dynamics Company Profile: • A leading provider of renewable fuels that primarily operates in the Western US • Vertically integrated operations spanning production, storage and delivery • Low-cost provider while demand growth is outpacing supply Sele

al Financial Engineering Deep, Deep Value "Turnaround* 0 10 20 30 40 Investment Horizon • Minimum • Maximum SO 60 (months) • Although Deep Value, Turnaround investments will represent the main focus of the portfolio, GP does make shorter-term opportunistic investments • Financial Engineer

. The typical investment holding period is between 2-4 years 15 EFTA00505794 Strategy & Execution Investment Buckets 10% 8% 2% MIS a Deep, Deep Value "Turnaround" • Financial Engineering - High Growth/ International • Hedges Hedges High Growth/International Financial Engineering Deep, Deep

2012 Apr Jul Oct 2013 Apr Jul Turnaround Catalysts: Company Profile: A leading provider of renewable fuels that primarily operates in the Western US Vertically integrated operations spanning production, storage and delivery Low-cost provider while demand growth is outpacing supply Selected F

. Financial Engineering Deep, Deep Value "Turnaround" Investment Horizon ■ Minimum ■ Maximum 0 10 20 30 40 50 60 (months) • Although Deep Value, Turnaround investments will represent the main focus of the portfolio, GP does make shorter-term opportunistic investments • Financial Engineer

ation. The typical investment holding period is between 2-4 years 18 EFTA00505824 Strategy & Execution Investment Buckets 10% 8% 2% a Deep, Deep Value 'Turnaround" a Financial Engineering High Growth/ International ■ Hedges *II Hedges : High Growth/International . Financial Engineering Dee