From: Paul Barrett <[email protected]> Sent: Friday, October 12, 2018 2:17 AM To: Subject: Re: Tencent Music pre-IPO shares LP's will be joining Windkanter Ventures I, LP. It's a Delaware SPV set up to make the Tencent Music Entertainment (TME) investment.

From: Paul Barrett < > Sent: Monday, October 22, 2018 4:40 PM To: Cc: Richard Kahn Subject: RE: Tencent Music pre-IPO shares It's an IPO trade - if you think the deal will pop and you want to guarantee a meaningful allocation. Doubt we get more than the usu

From: Paul Barrett < Sent: Monday, October 22, 2018 3:58 PM To: Cc: Richard Kahn Subject: RE: Tencent Music pre-IPO shares Sponsor negotiated revised terms: $8.87 per share or $27.6b1n (14% reduction). I met with the head of syndicate for MS — they feel

s. Other=tidbits • No deal roadshow, No =nderwriters • No fixed # of securities for =ale 2 EFTA_R1_01644096 EFTA02511652 No lock-ups except Tencent Music =ntertainment & Tencent (holding for at least 3 yrs), who own =7.5% Majority Ownership by Founders - =aniel Elk controls 37.3% of shares and Martin

ass="">434/d494294dfl.htm#rom494294_18 Other tidbits • No deal roadshow, No =nderwriters • No fixed # of securities for =ale No lock-ups except Tencent Music =ntertainment & Tencent (holding for at least 3 yrs from 12/15/17), =ho own - 7.5% Majority Ownership by Founders - =aniel Elk controls 37.3% of sh

Richard Kahn Sent: Tuesday, June 26, 2018 10:49 PM To: jeffrey E. Subject: Fwd: Honeycomb Crossover Opportunity - TME i will forward deck on Tencent Music once received later =onight.. if you are interested we may want to indicate =or more than you desire as it appears david has a lot of =emand Richar