From: Nicholas Jarecki Sent: Tuesday, December 14, 2010 7:09 PM To: [email protected] Subject: Fw: ARBITRAGE" - FINAL DOCUMENTS Attachments: Arbitrage - Investor Presentation 12.14.10.pdf; Arbitrage-Financials-12.14.10.pdt Arbitrage - Budget Topsheet.pdt Arbitrage - Investment Summary 12.14.10.pdf, Arbitrage - Waterfall 12.14.10.pdf, ARBITRAGE AFM To Date 12.6.10.pdf, Arbitrage Budget 12.8.10.pdt Arbitrage-Thumbsupjpg; Arbitrage-Screenplay.pdf; Arbitrage - Investment Summary 12.14.10.docx; Arbitrage-Financials-12.14.10.xls Hi Jeffrey- you mentioned you had some good professional advisers- I would be curious for their thoughts on the enclosed which are pretty advanced and improved of what I sent you last, especially the powerpoint. Anyway I promised I wouldn't bug you so feel free to just throw this all out. Hope all is well with you! Keep warm. Best, Nick From: Nicholas Jarecki To: Brian Young ; Kevin Turen ; Bob Salerno; Patrick Reese ; Laura Bickford ; Linda Lichter ; Nicholas Jarecki; Matthew Chausse ; hamis Sent: Tue Dec 14 02:00:54 2010 Subject: ARBITRAGE" - FINAL DOCUMENTS FINAL DOCUMENTS FOR DISTRIBUTION ATTACHED. THESE ARE GOOD TO GO. • Investor Presentation • Investment Short Summary • Revised Financials • Budget • Budget Topsheet • AFM Sales Data • Waterfall Document • Screenplay Please decide on a case by case basis which ones you want to send out. Nick EFTA_R1_02008729 EFTA02685292

Nicholas larecki The Green Room 2 EFTA_R1_02008730 EFTA02685293