From: jeffrey E. <[email protected]> Sent: Wednesday, November 5, 2014 1:53 PM To: Richard Joslin Subject: Re: K12 Inc (Knowledge Universe) When?.? On Wednesday, November 5, 2014, Richard Joslin vrote: See screenshot. Guess when Knowledge Universe =istributed 106,000 shares to LBF Holdings. We have reached out to transfer=agent to locate shares and are now working with the company counsel. Curre=tly we have 39,294 shs with cost of $13.89/ sh and 66,657 with cost of $4.99/sh Richard Joslin CFO Elysium Management LLC 445 Park Ave Ste. 1401 New York, NY 10022 1 EFTA_R1_01776347 EFTA02593145

please note The information contained in this communic=tion is confidential, may be attorney-client privileged, may constit=te inside information, and is intended only for the use of the addresse=. It is the property of JEE Unauthorized use, disclosure or copying =f this communication or any part thereof is strictly prohibited and =ay be unlawful. If you have received this communication in error, pleas= notify us immediately by return e-mail or by e-mail to [email protected], andar>destroy this communication and all copies thereof, including all atta=hments. copyright -all rights reserved 2 EFTA_R1_01776348 EFTA02593146