obal LLC - principal only $15,620,310 WW1' Ltd owes to Phaidon Global LLC— principal only $3,200,000 Artspace LLC owes through chain of entities to The Publishing Trust — principal only $3,301,000 No debt owed by Regan Arts LLC From: Jeffrey E. [mailtoleevacation@gmail coml Sent: Wednesday, December 30, 2015 7:37

Should box be checked that IRS should be able to talk with preparer? APO2 Declaration - Form ST-140 1) is name APO2 correct as it is referred to on The Publishing Trust as APO-02 2) page 3 on return - worksheet 3 - although it says see attached 162,779.00 should be on line 1 as line 2 on page 1 of return references

obal LLC - principal only $15,620,310 JMWT Ltd owes to Phaidon Global LLC— principal only $3,200,000 Artspace LLC owes through chain of entities to The Publishing Trust — principal only $3,301,000 No debt owed by Regan Arts LLC From: Jeffrey E. [mailto:[email protected] Sent: Wednesday, December 30, 2015 7:37 P

bal LLC - principal only $15,620,310 JMWT Ltd owes to Phaidon Global LLC — principal only $3,200,000 Artspace LLC owes through chain of entities to The Publishing Trust — principal only $3,301,000 No debt owed by Regan Arts LLC From: Jeffrey E. [mailto:[email protected] Sent: Wednesday, December 30, 2015 7:37 P

VIA EMAIL May 5, 2017 Brad, The money that worked its way down the chain to finance the Phaidon Press came from three general sources: The Publishing Trust (through the decanting) financed approximately[ loans. comprised of 7 Caveats Precise tracing to the specific loans, dates and sources of the fun

Castrucci Subject: The Publishing Trust Attachments: THE PUBLISHING TRUST - JEE APR 8 2016.pdf Attached is grantor trust tax return FY 2015 for The Publishing Trust Password to follow in separate email. Return will be filed electronically. 1 EFTA_R1_01446536 EFTA02405624

B-1- remove . from Leon D. Black for con=istency throughout return 3) Page 1- Should box be checked that IRS should be=able to talk with preparer? The Publishing Trust <1=> 1) why is it FKA APO.02 Declaration under name when =his is the first tax return filed? EFTA_R1_01574097 EFTA02465850 2) why is box checked

C - principal only $15,620,310 JMWT Ltd owes to Phaidon Global LLC &=8211; principal only $3,200,000 Artspace LLC owes through chain of en=ities to The Publishing Trust — principal only $3,301,000<=u> No debt owed by Regan Arts LLC=u> From: jeffrey E. [mailto:[email protected] Sent: Wednesday, December 30, 20

[email protected] <mailto:[email protected]» Cc: Brad Wechsle Good morning Jeffrey, The Trust Declaration has now been amended changing =ts name to The Publishing Trust. Ada Clapp Chief Legal Officer Elysium Management LLC 445 Park Avenue Suite 1401 New York, New York 10022 Direct Dial: Fax: Email: This com

l LLC - principal only $15,620,310 JMWT Ltd owes to Phaidon Global LLC =E2 principal only $3,200,000 Artspace LLC owes through chain of en=ities to The Publishing Trust — principal only $3,301,000 No debt owed by Regan Arts LLC=u> From: jeffrey E. [mailto:[email protected] Sent: Wednesday, December 30, 2015 7

Paul Weiss has prepared an Amendment to the APO-02 Decl=ration to accomplish this: * * Jeffrey, please confirm that you want the new n=me to be 'The Publishing Trust" as discussed at our meetin=. • * Alan, as you know, the assignment documents ass=gning interests in PLB and PASI, as well as the notes receivab

bal LLC - principal only $15,620,310 JMWT Ltd owes to Phaidon Global LLC — principal only $3,200,000 Artspace LLC owes through chain of entities to The Publishing Trust — principal only $3,301,000 No debt owed by Regan Arts LLC From: jeffrey E. [mailto:[email protected] Sent: Wednesday, December 30, 2015 7:37