purchase price + sales tax 2,200.000 Unrealized Gain/Loss 1.200,000 Unrealized Gain 1,200.000 Unrealized Loss 0 AP Narrows PICASSO. PABLO La Minotauromachie 1.300.000 2.500.000 1.200,000 1.200.000 0 Narrows (Collateral) TANSEY. MARK Homage to Susan Sontag 50.000 1.250.000 1.200.000 1.200.000

NE, GIUSEPPE Tra scorza e scorza (Between Bark and Bark) 2,000.000 45SWG PICASSO, PABLO La femme qui pleure I 3,000,000 45SWF PICASSO, PABLO La Minotauromachie 2,500,000 7VY99 REDON, ODILON A Edgar Poe 80,000 6BVHW RUSCHA, ED Egg 450,000 7SLW7 SACKS, PETER Aftermath (Mandela) 130,000 7SR5K SAC

5,559,847 LOB 2014 LLC PICASSO, PABLO Verre. pipe et parquet de tabac 1,281.000 2.000.000 2,000.000 719,000 6.278.847 APO 2 PICASSO. PABLO La Minotauromachie 1,261,602 2.000.000 2,000.000 738,398 7,017.245 APO 2 PICASSO. PABLO Figure Surrealiste (Camel. 1044) 950.991 1.800.000 1.800.000 849.009