EFTA01452536

To: Jeffrey Epstein <[email protected]> I agree with your changes lets look at 50 million dollars to start On Fri, Feb 14, 2014 at 1:26 AM, Jeffrey Epstein <[email protected]> wrote: Forwarded message From: Jeffrey Epstein <[email protected]> Date: Fri, Feb 7, 2014 at 6:04 PM subject: Fwd: percentages get a read from your team [c] To: Jeffrey Epstein <[email protected]> Forwarded message From: Jeffrey Epstein <[email protected]> Date: wed, Feb 5, 2014 at 4:38 PM subject: Fwd: percentages get a read from your team [C] To: Jeffrey Epstein <[email protected]> Forwarded messa e From: Tazia Smith > Date: Tue, Feb 4, 2014 at 3:25 PM Subject: Re: percentages get a read from your team [C] To: [email protected] Cc: Paul Morris < , Vinit Sahni < mav Gupta < vahe Stepani an Classification: Confidential Jeffrey - Summary below takes into account the DB team's feedback. we agree with overall themes. commentary here, further implementation detail below and to follow: - specific recommendations for modifications to the thematic baskets (Please see Healthcare detailed below -back with specifics on each level) - Propose allocation to us Tech equity (cognizant though that you have private equity investments) - Propose additional opportunistic FX exposure (trades like your short CAD) - Energy renaissance will include trades on crude, in addition to equities that are beneficiaries of secular shift in underlying energy supply, and supply chains (not just the nat gas theme in the us, but also companies like Hannon Armstrong (HASI) that finance energy efficiency) - we are reviewing PO v IO mortgages with rates where they are. (Embedded image moved to file: pic19441.gif) - Not a typo on Proposed total of 105; original just didn't include the single names in Japan (Embedded image moved to file: pic30879.gif) (Embedded image moved to file: pic05091.gif) Tazia Smith Director I Key Client Partners - US CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 109625 CONFIDENTIAL SDNY_GM_00255809 EFTA01452536