EFTA01746640

From: Richard Joslin To: jeffrey E. <jeeva on WI M na.corn> Subject: Re: Apollo update Sent Tuesday, March 24, 2015 3:34:59 AM Approx $ 8-9 million lower taxes for 2015 On Mar 23, 2015, at 11:22 PM, jeffrey E. [email protected]> wrote: does that change your 2015 projection On Mon, Mar 23, 2015 at 9:31 PM, Richard Joslin < Confidential. Material non-public info. > wrote: TRA: 2015 corporate income will be a loss and minimal TRA will be generated (only from state tax). Since amortization deductions exceed taxable income, TRA benefits will need to be shared among founders. No decision has been made on sharing methodology. 2015 DNI vs taxable income per share: $1.51 vs $0.78. APO cash distribution will not be less than $0.25/ sh per quarter. Projected cash distribution is approx $0.34 for QI-Q3 and $0.48 Q4. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevaCation@gmail,com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA_R1_00040449 EFTA01746640