PHAIDON GOVERNANCE STRUCTURE CHART As of November 1, 2015 ------- s' BEB 2011 • • ( JMB 2011 • ASB 2011 • I VRB 2011 • • Truman • • Trust*** -% ( • Trust*** • • • Trust*** or ------ ---------- . - . • re Black Famly 1997 Trine. % • • • (NYr*I . • . - I Decanted June MI C APO2 Trust (NY)* SO,3‘ • PAST LLC (DE) Manager BC 100% AS Holdings Ltd. (Bermuda, Manager: PAST LLC Officer EA 100% ARSP LLC (DE) Manager: Keith Fox 100% TIF An space LLC (DE) Manager: Keith Fox - - - - - - - - - - - e' LDB LDB 2011 LUC (DE)t _% f Manage,: Beard6/bl r r: timber Managed • Purchased by APOI ♦ lune 20I4 APOI Trust (NY)* 14.93% 4.48% 4 • 111.2 LLC (DE) Manager: HI 1997 GST EX Trust (NY)** 10.28/15 KEY: Trustees Beneficiaries Nlanagers/Officers 'Original Owner *BC. Mt RR DRB. BEB. JNIB. ASB. VRB ••DRB. BC. JH. RR BEB. DAB. ASB. VRB. DRB ***BC. JH. DRB. UST Admin BEB. JMB. ASB. VRB 100% ♦ Leon Black JMWT LLC DE) Manager: LDB 99.9% 0.1% PHAIDON GLOBAL LLC (DE) Manager: JMWT LLC 1 99.9% 100% PHAIDON LLC (DE) Formerly: !WAIT Mgr LLC Manager: JMWT LLC 0.1% loos 75% Regan Media Inc. Regan Ans LLC (DE) Board of Mgrs: JMWT LLC. JR JMWT Acquisition LLP (UK) 100% 1MWT Topco Limited (UK) 100% 1MWT Midco Limited (UK) 100% JMWT Li nited (UK) 100% Phaidon Press Limited (UK) 25% LitKit LLC (DE) Board of Mgrs: JMWT LLC. JR ()rig. Members: JMWT LLC — Leon Black PLB LLC - Debra Black Current Members: Phaidon Global. Phaidon LLC Managing Member: Phaidon LLC Directors: LDB, BJW Directors: LDB, BJW Directors: LDB, DRB, BJW Directors: KF, PR, JBC, BJW, BEB, BC Phaidon Press Phaidon Press Inc. MRL (UK) Phaido I Press Gitlin Phaidon Press Sarl Phaidon Press Srl Phaidon Press KK (Australia) (Germany) (France) (Italy) (Japan) EFTA00605874