From: Heather Gray Sent: Monday, June 22, 2015 6:54 PM To: Jeffrey Epstein ([email protected]) Cc: Brad Wechsler Subject: Picasso - second payment Dear Jeffrey, The second payment on the Picasso Buste de Femme =Marie Therese) in the amount of $34.5 million is due to Gagosian Gallery on Tuesday, J=ne 30th. I recommend that we handle this payment the same way=we did the first payment — that is, have Leon draw the entire $34.5 =illion from the Bank of America line, transfer the funds to Narrows Holdin=s LLC, and then have Narrows make the payment to Gagosian. Okay with you? Thanks, Heather Heather Gray Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: 1 EFTA_R1_01623773 EFTA02498402

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