Epstein Secrets

onsumer . endin 5.81% 7.53% 3.77% 7 Sources: Capital IQ, Federal Reserve Board, the Bureau of Economic Analysis, the Bureau of Labor Statistics, the University of Michigan Consumer Sentiment Report, Institute for Supply Management, the Livingston Survey, the EIU, and Standard & Poor's Industry Surveys. CONFIDENTIAL I WTAS LLC 17 EFTA00307412

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t

onsumer . endin 5.81% 7.53% 3.77% 7 Sources: Capital IQ, Federal Reserve Board, the Bureau of Economic Analysis, the Bureau of Labor Statistics, the University of Michigan Consumer Sentiment Report, Institute for Supply Management, the Livingston Survey, the EIU, and Standard & Poor's Industry Surveys. CONFIDENTIAL I WTAS LLC 17 EFTA00307311

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t

onsumer . endin 5.81% 7.53% 3.77% 7 Sources: Capital IQ, Federal Reserve Board, the Bureau of Economic Analysis, the Bureau of Labor Statistics, the University of Michigan Consumer Sentiment Report, Institute for Supply Management, the Livingston Survey, the EIU, and Standard & Poor's Industry Surveys. CONFIDENTIAL I WTAS LLC 17 EFTA00307210

olding period was negative 29.6% (a premium) to 71.0%, with an overall mean and median of 22.3% and 20.1%, respectively. • Hertzel — Smith Studya6. Hertzel and Smith conducted a study on discounts associated with restricted stocks. The study was based on approximately 106 restricted stock transactions t