Epstein Secrets

From: Richard Kahn Sent: Wednesday, September 6, 2017 8:18 PM To: Jeffrey E. Subject: Fwd: Next Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floo

22 telfa cel Begin forwarded message: From: =/b>Neale Attenborough Subject: =/b>RE: Next Date: =/b>September 6, 2017 at 4:16:37 PM =DT To: =/b>Richard Kah Cc: Chris Lawler Tyler Sheen I do not agree to your premise on the face =f it because we are already starting at a substantially discounted =aluation

o consider. We can then see fit is possible to hammer out a =eal. 3 EFTA_R1_01853272 EFTA02632235 Thanks. On Aug 31, 2017, at 5:55 AM, =ichard Kahn >=wrote: To move this along I would suggest the =ollowing: a rough detailed draft of a term sheet with seller =ompanies detailed. how many entitie

$13.1 Million. 3. The past three comparable transactions for =ompanies in this market average an enterprise value at —10x multiple of =BITDA a. Wilhelmina: 7x (average meaningful trading =ultiple since 2010) b. Creative Artists Agency: 10x (TPG =cquisition, 2014) c. IMG: 13x (WME acquisition, =013)

From: Sent: To: Cc: Subject: Richard Kahn HBRK Associat=s Inc. 575 Lexington Avenue, 4th Floor Begin forwarded message: Richard Kahn < III Wednesday, August 30, 2017 2:56 AM Fwd: Next

From: Sent: To: Cc: Subject: Richard Kahn HBRK Associat=s Inc. 575 Lexington Avenue, 4th

llion. 3. = The past three c=mparable transactions for companies in this market average an enterprise va=ue at - 10x multiple of EBITDA a. =nbsp; Wilhelmina: 7x (=verage meaningful trading multiple since 2010) b. =nbsp; Creative Artist= Agency: 10x (TPG acquisition, 2014) c. =nbsp; IMG: 13x (WME a=quisi

From: jeffrey E. <[email protected]> Sent: Wednesday, September 6, 2017 8:21 PM To: Richard Kahn Subject: Re: Next may i please have the list of who is selling what ?* if you subtracted value based on the contingeincies then=you already have

stions and * your ideas on how to deal with liablity. 40 ie ny class action waiting to be certified.. 4> others like paris etc. thank you. Richa=d Kahn </=pan> HBRK Associates Inc. 575 Lexington Avenue, 4th Floor=/span> New York, NY 10022=u> Tel Fax Cell On Aug 30, 2017, at 7:16 AM, Richar= Ka

llion. 3.<=span> 4) The past three comparable transactions for c=mpanies in this market average an enterprise value at -10x multiple of EBI=DA a. Wilhelmina: 7x (av=rage meaningful trading multiple since 2010) b.<=pan style="font-size:7pt;color:rgb(31,73,125)"> 40 Creative Artists Agency: 10x (TPG acqui

From: Richard Kahn < Sent: Wednesday, September 6, 2017 8:05 PM To: Jeffrey E. Subject: Fwd: Next please advise thank you Richard Kahn HBRK Associates Inc. 5

From: Richard Kahn < Sent: Wednesday, September 6, 2017 8:05 PM T

$13.1 Million. 3. The past three comparable transactions for =ompanies in this market average an enterprise value at —10x multiple of =BITDA a. Wilhelmina: 7x (average meaningful trading =ultiple since 2010) b. Creative Artists Agency: 10x (TPG =cquisition, 2014) c. IMG: 13x (WME acquisition, =013)

From: Richard Kahn < Sent: Wednesday, September 6, 2017 6:48 PM To: Jeffrey E. Subject: Fwd: Next no response to this last email shall i =esend? Richard Kahn

From: Richard Kahn < Sent: Wednesday, September 6, 2017 6:48 PM T

$13.1 Million. 3. The past three comparable transactions for =ompanies in this market average an enterprise value at - 10x multiple of =BITDA a. Wilhelmina: 7x (average meaningful trading =ultiple since 2010) b. Creative Artists Agency: 10x (TPG =cquisition, 2014) c. IMG: 13x (WME acquisition, 2013)

From: Richard Kahn ‹ . Sent: Wednesday, August 30, 2017 2:51 AM To: Jeffrey Epstein Subject: Fwd: Next Still waiting on dial in number.. <=r>Richard Kahn HBRK

<=r>Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th=Floor New York, NY 10022 Tel Fax Cel Begin fo=warded message: From: Ri=hard Kahn > Date: August 29, 2017 at 10:48:17 PM EDT To:</=> Neale Attenborough < > Cc: Chris Lawler », Tyler Shean <=a href="mailto >=br>Subject: Re:

illion. 3. = The past three c=mparable transactions for companies in this market average an enterprise va=ue at —10x multiple of EBITDA a. =nbsp; Wilhelmina: 7x (=verage meaningful trading multiple since 2010) b. =nbsp; Creative Artist= Agency: 10x (TPG acquisition, 2014) c. =nbsp; IMG: 13x (WME a=quisi