From: "jeffrey E." <[email protected]>

From: "jeffrey E." <[email protected]> To: Richard Kahn Subject: Re: Brazil CDS Quarterly Payment [C] Date: Thu, 02 Jul 2015 15:53:46 +0000 Yes On Thursday, July 2, 2015, Richard Kahn < DB called again today to see if ok to process payment Please advise Thanks Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York. NV 10022 tel Begin forwarded message: From: Richard Kahn •cl Date: July 1, 2015 at 1:04:12 PM EDT Subject: Fwd: Brazil CDS Quarterly Payment [C] To: "Jeffrey E." [email protected]> as of 6-30-2015 your unrealized gain is as follows: Value as of 6-30-2015 628,465 Cost Basis (491,941) March 20th interest (24,444) June 22nd interest (26,111) additional interest 6-23 thru 6-30 (2,222) Total unrealized gain 6-30-2015 * 83,747 Interest Calculation is as follow: wrote: 10,000,000 notional x 1% = 100,000 annual interest / 360 days x 94 days = 26,111 please confirm ok for DB to take interest payment of 26,111.11 on Brazil Swap Richard Kahn HBRK Associates Inc. EFTA00852514 575 Lexington Avenue 4th Floor New York, NY 10022 tel 212-971-1306 fax 646-350-0954 cell 917-414-7584 Begin fonvarded message: From: Ariane Dwyer < To: Richard Kahn >, Jeanne Brennan < Cc: Vahe Ste anian < >. Daniel Sabba < >, Darren Indyke < Subject: Brazil CDS Quarterly Payment [C] Date: June 30. 2015 at 3:21:36 PM EDT Classification: Confidential Hi Rich, Can you please confirm you agree with the below details of the quarterly Brazil CDS payment. Southern Financial pays a fixed rate of 1% per annum on a quarterly basis (executed confirm attached) and is due to pay DB $26,111. Once you confirm I will call Darren to verbally confirm the wire transfer to DBAG London. 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 EFTA00852515