Epstein Secrets

fficer Senior Vice-President. Investments C. V. Starr Senior Fellow and Director. Asia Studies Presid

r Clifford Chance LLP United Kingdom Oleg Popov Chief Executive Officer System Capital Management Ukraine Ruth Porat Chief Financial Officer Morgan Stanley USA Michael E. Porter Bishop William Lawrence University Harvard Business School USA Professor Roberto Poti Head of International, Renewable Edis

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10179 (212) 272-2000 13 no Transaction Detail (continued) INVESTMENT ACTIVITY (coronued) CI-LARCD 1~914 115 WHOLLY CIA140) 111/1/9943111 Ilea0 Starr. 590911./ C019 Ono 1M~0. en Will er001101. Nn York 112014339 G121272.1000 INTERNATIONAL CHARITABLE 893119.13017 901100 590~001 29.2001 7119010

Net Cash ActMty 97.565.64 Closin Balance 5458.807.77 r _ L66PS£00 IN9 ANGS Cash Balance Summary corms otcsee. Cash 360.459.81 458.807.77 Moran 782.32 0.00 Net Cash Balance 3361.242.13 5458.807.77 027 02.1.1/C0 niliaKIN ITS WrICU.Y 040.10) SUBSICOMY 00w. seem Scaollo Cop Cot 111010:

o (IVZ), C-1-7, Buy Presenting from IVZ was Loren Starr, CFO. Overall Loren was optimistic on the outlook

integration risks. Upside risks to our price objective are better than expected equity markets, performance, or flows, or an accretive acquisition. Morgan Stanley (MS) We value the brokers based on the relationship between ROE (return on equity} and PB (price to book), which has a high historical correlation. Ou