'Agostino Elizabeth Damaskos < Eileen Alexanderson Ada Clapp Richard D'Agostino Richard Joslin Admin person Elizabeth Damaskos Miriam Paluba Judith Regan Richard Joslin Black Family Partners, LP 445 Park Ave New York, NY 10022 (ph) (cell) Richard Joslin, CPA CFO Black Family Partners, LP 445

BC") and John J. Hannan ("JH") s• Trustees: BC, JH, Richard Ressler and Debra Black The Publishing Trust (NY)' "'Board of Managers: JMWT LLC and Judith Regan PLB LLC (US) Manager: JH As of 4/26/16 C Leon BlackD ) 100% JMWT LLC (US) Manai,er: LB 99.9% 0.1% Regan Ans LLC 100% • EFS Member LLC

tached: -2015 Plane operations cost summary; -Regan Arts 2015 Year End Review dated January 7, 2016 prepared by Phaidon COO Phillip Ruppel and CEO Judith Regan presented to Leon and Elysium; -Draft Paul Weiss Phaidon Deal memo-not yet delivered to Leon; -Before and After List of Bank Accounts, Entities & L

tached: -2015 Plane operations cost summary; -Regan Arts 2015 Year End Review dated January 7, 2016 prepared by Phaidon COO Phillip Ruppel and CEO Judith Regan presented to Leon and Elysium; -Draft Paul Weiss Phaidon Deal memo-not yet delivered to Leon; -Before and After List of Bank Accounts, Entities & L

tached: -2015 Plane operations cost summary; -Regan Arts 2015 Year End Review dated January 7, 2016 prepared by Phaidon COO Phillip Ruppel and CEO Judith Regan presented to Leon and Elysium; -Draft Paul Weiss Phaidon Deal memo-not yet delivered to Leon; -Before and After List of Bank Accounts, Entities & L

tached: -2015 Plane operations cost summary; -Regan Arts 2015 Year End Review dated January 7, 2016 prepared by Phaidon COO Phillip Ruppel and CEO Judith Regan presented to Leon and Elysium; -Draft Paul Weiss Phaidon Deal memo-not yet delivered to Leon; -Before and After List of Bank Accounts, Entities & L

REGAN ARTS 2015 Year End Review January 7, 2016 Judith Regan, CEO EFTA00602500 Executive Summary • Preliminary Revenue of $6.3M, +7.5% or $0.4M versus plan, a reserve of $1.2M for returns is included • T

ichard Ressler ** Trustees: BC. JH, Richard Ressler. Debra Black ("DB"), US Trust Company (Administrative Trustee) ***Board of Managers: JMWT LLC. Judith Regan JMWT LLC (US) Manager: LB PHAIDON GLOBAL LLC US) Manager: 1M1VT LLC 99.9% 100% • PHAIDON LLC (US) Fomterly: .110/MT Manager LIZ 0.1% V JM

RE: Sorry, it has just been really, really busy. I'm in the real estate business this week. I am about to go on a call to work on the contract for Judith Regan. Can we speak later or tomorrow am? From: Jeffrey Epstein [mailto:[email protected]] Sent: Tuesday, June 25, 2013 2:51 PM To: Eileen Alexander

ote: Sorry, it has just been really, really busy. I'm in the real estate business this week. I am about to go on a call to work on the contract for Judith Regan. Can we speak later or tomorrow am? From: Jeffrey Epstein [mailto:ieevacationftomail.corn] Sent: Tuesday, June 25, 2013 2:51 PM To: Eileen Alexand

.com> Sorry, it has just been really, really busy. I'm in the real estate business this week. I am about to go on a call to work on the contract for Judith Regan. Can we speak later or tomorrow am? From: Jeffrey Epstein [mailto:jegyacatiogThcnak[igm] Sent: Tuesday, June 25, 2013 2:51 PM To: Eileen Alexander

ng. I know where I'd like to see the company go but i don't know whether there's a position that would let me work on that. He mentioned bringing in Judith Regan who seems completely antithetical to the entire ethos of the company. It's probably best if I come in 2 weeks -- in early June -- to coincide with

ng. I know where I'd like to see the company go but i don't know whether there's a position that would let me work on that. He mentioned bringing in Judith Regan who seems completely antithetical to the entire ethos of the company. It's probably best if I come in 2 weeks -- in early June -- to coincide with

ng. I know where I'd like to see the company go but i don't know whether there's a position that would let me work on that. He mentioned bringing in Judith Regan who seems completely antithetical to the entire ethos of the company. It's probably best if I come in 2 weeks -- in early June -- to coincide with

RE: Sorry, it has just been really, really busy. I'm in the real estate business this week. I am about to go on a call to work on =he contract for Judith Regan. Can we speak later or tomorrow am? From: Jeffrey =psteinimailto:[email protected] Sent: Tuesday, June 25, 2013=2:51 PM To: Eileen Alexanders

Re 2. Understood Re 3. Tax basis of Sustainable Woodlands is $18,828,441 a/o 12/31/2013 Thought: It would be helpful to have direct dialogue with Judith Regan re =inances rather than interpretive version through Phaidon CFO. Phaidon bus=ness is similar but not the same as Regan Arts. There is perceived nee

ed need to hire 6 staff in order to have sufficient marketing and sal=s team to support the number of titles (per Phaidon CFO presumably c=anneling Judith Regan) and a COO per EA. I think exact headcount sho=ld be nailed down in tandem with the development of 2-3 year business mode=s Original Message Fro

Re 2. Understood Re 3. Tax basis of Sustainable Woodlands is $18,828,441 a/o 12/31/2013 Thought: It would be helpful to have direct dialogue with Judith Regan re =inances rather than interpretive version through Phaidon CFO. Phaidon bus=ness is similar but not the same as Regan Arts. There is perceived nee

Re 2. Understood Re 3. Tax basis of Sustainable Woodlands is $18,828,441 a/o 12/31/2013 Thought: It would be helpful to have direct dialogue with Judith Regan re =inances rather than interpretive version through Phaidon CFO. Phaidon bus=ness is similar but not the same as Regan Arts. There is perceived nee

Re 2. Understood Re 3. Tax basis of Sustainable Woodlands is $18,828,441 a/o 12/31/2013 Thought: It would be helpful to have direct dialogue with Judith Regan re =inances rather than interpretive version through Phaidon CFO. Phaidon bus=ness is similar but not the same as Regan Arts. There is perceived nee