From: Richard Joslin

From: Richard Joslin To: jeffrey E. <[email protected]> Subject: RE: Re: Date: Fri, 06 May 2016 14:41:14 +0000 The computed value of APO stock of $1,997,165,490 was rounded to $2B. Empire will round the larger values if they are discounting single assets From: jeffrey E. [[email protected]] Sent: Friday, May 06, 2016 9:15 AM To: Richard Joslin Subject: Re: Look at chart you sent On Friday, 6 May 2016, Richard Joslin wrote: Some of the values are rounded. There may be one that had $2B. Will check On May 6, 2016, at 8:00 AM, jeffrey E. <[email protected]> wrote: the chart shows similar numbers . does the empire valuation actually say 2 billion exact dollars for apollo . is it rounded? On Fri, May 6, 2016 at 7:54 AM, Richard Joslin wrote: I will continue to look for this. On May 5, 2016, at 6:52 PM, jeffrey E. <[email protected]> wrote: there is another chart somewhat similar. . does the 2billlion whole number show as the value of apo. there is not a discoount . how is 2 billion arrived at. On Thu, May 5, 2016 at 6:22 PM, Richard Joslin < wrote: Two files 1) Empire Gross Asset Value to net discounted value from 2013 to 2015 for selected valuations 2) the change over time (lower) of Empire's trading restriction discount on APO stock (sent Nov 2015) From: Brad Wechsler [mail Sent: Thursday, May 05, 2011.11 To: [email protected]. [email protected]>; Richard Joslin Subject: Re: Ok From: jeffrey E. [mailto:jeevagmail.com Sent: Thursday, May 05, 2016 02:27 PM EFTA00704001 To: Brad Wechsler Subject: Re: its says grat discount 36 %. . next quarter 34.4% or something close. On Thu, May 5, 2016 at 2:20 PM, Brad Wechsler < wrote: He's looking thru his emails and other materials and will forward but he seemed unclear... From: Jeffrey E. [mailtoleevacation©gmail.com] Sent: Thursday, May 05, 2016 01:30 PM To: Brad Wechsler Subject: ask jolsin for the chart that shows grat discount at 36 point something percent. , then later at 35 .something , it is a hard copy in my office in new york 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 [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved w.w.imax.com IMAXQ.C' is a registered trademark of IMAX Corporation. 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Thank you 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 [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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 [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 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 EFTA00704003 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 [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00704004