EMPIRE

EMPIRE VALUATION CONSULTANTS, at PRIVATE & CONFIDENTIAL April 8, 2014 Leon Black, Trustee of APO1 GRAT c/o Elysium Management 445 Park Avenue, Suite 1401 New York NY 10022 Our Reference: (Please include our reference number on your check.) Empire Valuation Consultants E1N (9 Lf‘ A ( 111(C( INVOICE For services rendered in connection with the preparation of a valuation report to estimate the fair market value of a 37.75% limited partnership interest in Black Family Partners, LP as of October 25, 2013. Less Retainer Out-Of-Pocket Expenses Balance Due $14,000 ($ 7,000) $ 450 Please make your check payable to Empire Valuation Consultants, LLC and remit to the address below. 777 Canal Vicw Blvd., Suite 200, Rochester. NY 14623 Tel: New York • Cleveland • Rochester West Hantord EFTA00603461 EMPIRE VALUATION CONSULTANTS, ac PRIVATE & CONFIDENTIAL July 22, 2014 Leon Black, Trustee of APO1 GRAT do Elysium Management 445 Park Avenue, Suite 1401 New York NY 10022 Our Reference: (Please include our reference number on your check.) Empire Valuation Consultants EIN t pa") 7k,( IVA (— INVOICE c.DsZ For services rendered in connection with e preparation of a valuation report to estimate the fair market value of a 2.5 % limited partnership interest in Black Family Partners, LP as of January 24, 2014. $8,000 Out-Of-Pocket Expenses $ 450 Balance Due $8.450 Please make your check payable to Empire Valuation Consultants, LLC and remit to the address below. 777 Canal View Blvd., Suite 200, Rochester, NY 14623 Tel: New York • Cleveland • Rochester • West Hartford EFTA00603462 EMPIRE VALUATION CONSULTANTS.= PRIVATE & CONFIDENTIAL September 24, 2014 Leon Black, Trustee of APOI GRAT c/o Elysium Management 445 Park Avenue, Suite 1401 New York NY 10022 Our Reference: (Please include our reference number on your check) Empire Valuation Consultants EIN c_ A 0.rNis kthen INVOICE For services rendered in connection with the preparation of a valuation report to estimate the fair market value of a 2.4038% limited partnership interest in Black Family Partners, LP as of April 24, 2014. Out-Of-Pocket Expenses Balance Due $9,000 $ 560 $9,560 Please make your check payable to Empire Valuation Consultants, LLC and remit to the address below. 777 Canal View Blvd., Suite 200, Rochester, NY 14623 Tel: New York • Cleveland • Rochester • West Hanford EFTA00603463 EMPIRE VALUATION CONSULTANTS, tic PRIVATE & CONFIDENTIAL November 18, 2014 Leon Black, Trustee of APOI GRAT No. 1 c/o Elysium Management 445 Park Avenue, Suite 1401 New York NY 10O22 Our Reference: (Please include our reference number on your check.) Empire Valuation Consultants EN INVOICE For services rendered in connection with the preparation of a valuation report to estimate the (Mr market value of a 3.5009% limited partnership interest in Black Family Partners, LP as of July 24, 2014. Out-Of-Pocket Expenses Balance Due $8,000 $ 475 Please make your check payable to Empire Valuation Consultants, LLC and remit to the address below. 777 Canal View Blvd., Suite 200, Rochester, NY 14623 Tel: New York • Cleveland • Rochester • West Hartford EFTA00603464 EMPIRE VALUATION CONSULTANTS, 'lc PRIVATE & CONFIDENTIAL November 24, 2014 Leon Black, Trustee of APO1 DRAT No. 1 c/o Elysium Management 445 Park Avenue, Suite 1401 New York NY 10022 Our Reference: (Please include our reference number on your check.) Empire Valuation Consultants EIN INVOICE For services rendered in connection with preparation of a valuation report to estimate the fair market value of a 5.936'9% limited partnership interest in Black Family Partners, LP as of October 24, 2014. Out-Of-Pocket Expenses Balance Due $8,000 $ 475 Li 475. Please make your check payable to Empire Valuation Consultants, LLC and remit to the address below. 777 Canal View Blvd.. Suite 200, Rochester, NY 14623 Tel: New York • Cleveland • Rochester • West Hartford EFTA00603465 EMPIRE VALUATION CONSULTANTS, L.Lc PRIVATE & CONFIDENTIAL October 15, 2015 Leon Black, Trustee of APO1 GRAT No. 1 c/o Elysium Management 445 Park Avenue, Suite 1401 New York NY 10022 Our Refe►ence: (Please include this number on your check.) Empire Valuation Consultants EIN FINAL INVOICE For services rendered in connection with the preparation of valuation reports to estimate the fair market value of various limited partnership interests in Black Family Partners, LP. Valuation as of January 24, 2015 $ 8,000 Out-Of-Pocket Expenses $ 475 Valuation as of April 24, 2015 $ 8,000 Out-Of-Pocket Expenses $ 475 Valuation as of July 24, 2015 $ 8,000 Out-Of-Pocket Expenses $ 475 Balance Due $25.425 Please make your check payable to Empire Valuation Consultants, LLC and remit to the address below. We appreciate your business. Determining the value of your business interests or intangible assets is a task we've taken very seriously for more than 25 years. Count on us to bring excellence and integrity to every valuation engagement. Our services include: Estate & Gift Tax Reporting Financial & SEC Reporting Corporate Planning Hedge Fund & Private Equity Fair Value Mergers & Acquisitions Intellectual Property Fairness & Solvency Opinions Fund Assurance Reviews ESOP & ERISA Advisory and much more 777 Canal View Blvd., Suite 200, Rochester, NY 14623 Rochester • New York Tel: Boston • Cleveland West Hartford EFTA00603466