Epstein Secrets

: Daniel Sabba Subject: indication on its t reverse s Date: May 20, 2016 at 11:06:25 AM EDT To: "jeffre E." <eevacation mail.com> Richard Kahr "Darren Indyke Paul Morris Stewart Oldfield , Gben a Omosu i Cc: Vahe epanian Please note these are indications — these levels are not tradable. We need Credi

E." <eevacation mail.com> Richard Kahr "Darren Indyke Paul Morris Stewart Oldfield , Gben a Omosu i

"jeffre E." <eevacation mail.com> Richard Kahr "Darren Indyke Paul Morris Stewart Oldfield , Gben a

WTI - Indications Southern financial buys calls and sells puts for zero net premium. These are listed look-alike structures to be executed through Southern Financial's ISDA. option exp 17Aug16 Future reference: CLU6 Call strike: 55 Put strike: 45 EFTA00703859 Call strike: 50 Put strike: 49.75 option exp 16N

From: Daniel Sabba Sent: 5/20/2016 11:06:25 AM To: jeffre E. "[email protected]; Richard Kahn I I; Darren Indyke CC: Vahe S Gben Omosu i Paul Morris Stewart Oldfield Subject: indication on WTI risk reversals Please note these are indications — these lev

"[email protected]; Richard Kahn I I; Darren Indyke CC: Vahe S Gben Omosu i Paul Morris Stewart

fre E. "[email protected]; Richard Kahn I I; Darren Indyke CC: Vahe S Gben Omosu i Paul Morris

WTI - Indications Southern financial buys calls and sells puts for zero net premium. These are listed look-alike structures to be executed through Southern Financial's ISDA. option exp 17Aug16 Future reference: CLU6 Call strike: 55 Put strike: 45 Call strike: 50 Put strike: 49.75 option exp 16Nov16 Future re

From: Ariane Dwy Sent: 8/25/2015 4:20:05 PM To: Richard Kahn CC: Darren lndyk Daniel Sabha Vahe Stepanian Paul Morris ; Stewart Oldfield Subject: RE: Southern Financial Margin Call Hi Rich, We are transferring 32,

ed on the 50% haircut rate. No call back is necessary. Best, Ari From: Richard Kahn Sent: Tuesday, August 25, 2015 3:29 PM To: Ariane Dwyer Cc: Darren Indyke; Daniel Sabba; Vahe Stepanian; Paul Morris; Stewart Oldfield Subject: Re: Southern Financial Margin Call mr epstein said he would like to transfer

st 25, 2015 3:29 PM To: Ariane Dwyer Cc: Darren Indyke; Daniel Sabba; Vahe Stepanian; Paul Morris; Stewa

ch had a large change in mark-to- market value from Friday's to Monday's close given the EURUSD decline. For additional details please find attached Southern Financial's Valuation Statements since Friday as well as today's Exposure Statement. Please let us know if you would like us to transfer cash from the main acc

Classification: For internal use only No response to this? From: Daniel Sabba Sent: Friday, May 20, 2016 11:06 AM To: Jeffrey E.; Richard Kahn; Darren Indyke ( ) Cc: Vahe Stepanian; Gbenga Omosuyi; Paul Morris; Stewart Oldfield Subject: indication on WTI risk reversals Please note these are indications

16 11:06 AM To: Jeffrey E.; Richard Kahn; Darren Indyke ( ) Cc: Vahe Stepanian; Gbenga Omosuyi; Paul Mor

20, 2016 11:06 AM To: Jeffrey E.; Richard Kahn; Darren Indyke ( ) Cc: Vahe Stepanian; Gbenga Omosuyi; P

WTI - Indications Southern financial buys calls and sells puts for zero net premium. These are listed look-alike structures to be executed through Southern Financial's ISDA. option exp 17Aug16 Future reference: CLU6 Call strike: 55 Put strike: 45 Call strike: 50 Put strike: 49.75 option exp 16Nov16 Future re

16 11:06 AM To: jeffrey E.; Richard Kahn; Darren Indyke I Cc: Vahe Stepanian; Gbenga 0mosuyi; Paul Morris

20, 2016 11:06 AM To: jeffrey E.; Richard Kahn; Darren Indyke I Cc: Vahe Stepanian; Gbenga 0mosuyi; Paul

Classification: For Internal use only No response to this? From: Daniel Sabba Sent: Friday, May 20, 2016 11:06 AM To: jeffrey E.; Richard Kahn; Darren Indyke I Cc: Vahe Stepanian; Gbenga 0mosuyi; Paul Morris; Stewart Oldfield Subject: indication on WTI risk reversals Please note these are indications — t

WTI - Indications Southern financial buys calls and sells puts for zero net premium. These are listed look-alike structures to be executed through Southern Financial's ISDA. option exp 17Aug16 Future reference: CLU6 Call strike: 55 Put strike: 45 Call strike: 50 Put strike: 49.75 option exp 16Nov16 Future re

n forwarded message: From: Ariane Dwyer < Subject: Southern Financial Margin Call Date: August 25, 2015 at 2:52:32 PM EDT To: Richard Kahn < Cc: Darren Ind ke < >, Daniel Sabba < >, "Vahe Stepanian" >, Paul Morris < >, "Stewart Oldfield" Rich, Please find attached a margin call issued for Southern Financi

, 2015 at 2:52:32 PM EDT To: Richard Kahn < Cc: Darren Ind ke < >, Daniel Sabba < >, "Vahe Stepanian"

ch had a large change in mark-to- market value from Friday's to Monday's close given the EURUSD decline. For additional details please find attached Southern Financial's Valuation Statements since Friday as well as today's Exposure Statement. Please let us know if you would like us to transfer cash from the main acco

From: Richard Kahn Sent: 8/25/2015 3:29:28 PM To: Ariane Dwyer 1 I CC: Darren lndyke Daniel Sabba • Vahe Stepanian Paul V Morris ( [ ]; I; Oldfield I Subject: Re: Southern Financial Margin Call mr epstein said he woul

ch had a large change in mark-to- market value from Friday's to Monday's close given the EURUSD decline. For additional details please find attached Southern Financial's Valuation Statements since Friday as well as today's Exposure Statement. Please let us know if you would like us to transfer cash from the main acc

wap Reset [SC] Classification: Strictly Confidential Rich — I'm following up on the below. Please confirm you agree with the details. We will call Darren to verbally confirm wire transfer to DBAG London after receipt of your approval. Thank you, Vahe From: Daniel Sabba Sent: Tuesday, June 02, 2015

esterday. This is now showing up into swap break reports, which feeds into CB&S management. Reset payments happen every month for this transaction. Southern Financial's treasurer (Rich Kahn) needs JE's sign off for each reset payment, which is typically done by middle/back office in the institutional side. We spoke

wap Reset [SC] Classification: Strictly Confidential Rich — I'm following up on the below. Please confirm you agree with the details. We will call Darren to verbally confirm wire transfer to DBAG London after receipt of your approval. Thank you, Vahe From: Daniel Sabba Sent: Tuesday, June 02, 2015

esterday. This is now showing up into swap break reports, which feeds into CB&S management. Reset payments happen every month for this transaction. Southern Financial's treasurer (Rich Kahn) needs JE's sign off for each reset payment, which is typically done by middle/back office in the institutional side. We spoke