would like to revisit the KRW structures we sent out. Jeffrey believes FOMC will hike in September but was not interested in playing through interest rate derivatives which he considered more speculative. We asked him for an update on Genapsys — he mentioned he would meet with George Church this week. We discussed energy bonds that mature within the maturity wall of the issuers. He was interested in outright purchases as well as levered plays. Follow Ups Target Date 1 Proxy hedge for jet fuel Sent 2 MRX hedged long exposure Sent 3 Energy bonds Sep 8 4 EM FX shorts (KRW, BRL) Sep 8 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0118062 CONFIDENTIAL SDNY_GM_00264246 EFTA01458241