From: Richard Joslin

From: Richard Joslin To: jeffrey E. <[email protected]> Subject: RE: Knowledge Universe Education L.P. -- Confidential Memorandum Date: Thu, 23 Apr 2015 15:32:13 +0000 The economic owner is BFP LP. The titular owner on Knowledge Universe records is LBF Holdings. This was an investment that dates to the period of rollup (BFP creation) and initially acquired by LBF Holdings and was transferred to BFP LP. From: jeffrey E. [[email protected]] Sent: Wednesday, April 22, 2015 6:49 PM To: Richard Joslin Subject: Re: Knowledge Universe Education L.P. -- Confidential Memorandum who owned it? On Wed, Apr 22, 2015 at 6:42 PM, Richard Joslin > wrote: We elected to sell partnership interest and receive cash currently with some cash coming lwhen contingent claims are settled in future. No election to defer sale. Loss on sale of this partnership approx $18mm recognized in 2015 (company estimate). Balance of Knowledge Universe partnership interests has low basis and large unrealized appreciation (based on company valuation). > On Apr 22, 2015, at 5:38 PM, Richard D'Agostino > Please see attached on behalf of LBF Holdings LLC > Original Messa e > From: Stan Maron [mailto: > Sent: Tuesday, April 21, 2015 4:35 PM > To: Richard Joslin > Cc: Richard D'Agostino > Subject: RE: Knowledge Universe Education L.P. -- Confidential Memorandum > Thanks Richard. Will await receipt. > Stan > Original Message > From: Richard Joslin [mailto: > Sent: Tuesday, April 21, 2015 1:14 PM > To: Stan Maron > Cc: Richard D'Agostino > Subject: RE: Knowledge Universe Education L.P. -- Confidential Memorandum > Stan: > We will revert with option to either defer to take cash by tomorrow. > Thanks wrote: EFTA00707535 > Original Messa e > From: Stan Maron [mailto: > Sent: Tuesday, April 21, 2015 4:12 PM > To: Richard Joslin > Cc: Richard D'Agostino > Subject: RE: Knowledge Universe Education L.P. -- Confidential Memorandum > Hi Richard, > Following the discussion we have had with regard to the April 1, 2015 Confidential Memorandum, I am checking in with you as I have not to date received the signed Schedule E or Schedule F for LBF Holdings LLC. I believe you indicated that you would likely be electing the deferral alternative on Schedule F. As described in the Confidential Memorandum, tomorrow (April 22) is the last day for submitting Schedule F and electing the deferral alternative for potential non application of the Contingent Tax Liability. Should we not receive Schedule F from LBF Holdings by tomorrow, its KUE LP Units will be purchased net of reserves and the Contingent Tax Liability as described in the Confidential Memorandum (wire transfer instructions on Schedule E will then be needed to process payment). > I look forward to receiving the signed Schedule (either E or F) from you by tomorrow. > Regards, > Stan > <Knowledge Universe Election - LBF Holdings 04-22-15.pdf> 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 EFTA00707536