PY EFTA00806113 SACKS PRESS & LACHER, P.C. CERTIFIED PUBLIC ACCOUNTANTS 600 THIRD AVENUE - 18TH FL NEW YORK, NY 10016-1901 SEPTEMBER 12, 2017 NEXT MANAGEMENT LLC 15 WATTS STREET, 6TH FLOOR NEW YORK, NY 10013 NEXT MANAGEMENT LLC: WE HAVE PREPARED AND ENCLOSED YOUR 2016 LIMITED LIABILITY COMPANY RETURNS FOR

2016 DEPRECIATION AND AMORTIZATION REPORT — CURRENT YEAR STATE — NEXT MANAGEMENT LLC Acr l Description Date Acquired method Life toe Noe Unadjusted Cog Or Basis Bus % Exci Reduction In Basis Basis For Depreciation Ac

TEMENT 9 27,762. 20a Investment income 20b Investment expenses 20c-z Other information JSA 5P9055 I 000 R66297 1608 20 EFTA00806424 NEXT MANAGEMENT LLC 2015 Depreciation 11-3495607 Description of Property NEXT MANAGEMENT, LW GENERAL TRADE OR BUSINESS Asset description Date placed In service

E 12-31-2015 13-3501977 PARTNERSHIP HOLDING CORP. C/O NEXT MANAGEMENT LLC 15 WATTS STREET 6TH FLOOR NEW YORK NY 10013 13-3495607 200506910067 NEXT MANAGEMENT LLC 15 WATTS STREET NEW YORK NY 10013 A What type of entity is this member?• (1) K Individual (4) K C Corporation (7) K LLP (10) K Exempt Orga

T % TO BUSINESS YES NO TYPE GEN LIM FEIN OR ESN SHARE SHARE CLAXON INC 42.000000 100.00 X c X 12.-3508512. 2,115,104. 41.999997 C/0 NEXT MANAGEMENT LLC 15 WATTS STREET 6TH FLOOR NEW YORK, NY 10011 PARTNERSHIP HOLDING CORP. 11.000000 100.00 X s X 11-3501977 1,706,797. 11.000002 C/O NEXT M