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

From: "Jeffrey E." <[email protected]> To: Stephen Hanson Subject: Fwd: Hotel & Restaurant Models Date: Fri, 19 Jan 2018 00:15:26 +0000 Attachments: Book3.xlsx; Bookl_(002).xlsx; image001.png; image002.png; image003.png; image004.png; image005.png; image006.png Forwarded message From: Stephen Hanson <I Date: Sat, Aug 19, 2017 at 8:37 AM Subject: Fwd: Hotel & Restaurant Models To: Jeffrey / E / Epstein <[email protected]> Sent from my iPad Begin forwarded message: From: Alan Hochhauser < Date: August 18, 2017 at 3:35:05 PM EDT To: "Howie W. Muchnick" < >, Steve Hanson Subject: Hotel & Restaurant Models Attached are the two models I. Restaurant pro forma. Comes out to $672K EBITDAR. After commercial rent tax and capital reserve, figure $45K per month in rent paid to hotel 2. Hotel model — I gave 6 different scenarios starting at 80% occupancy and $250 ADR up to 90% / $290. That last scenario is hotel break even without restaurant rent — it's lower than my last estimate of $300 because debt service came down with refl. Alan Hochhauser Chief Financial Officer LIFE RESTAURANT At Life Hotel EFTA00908441 @lifeb.Ackessyork Qalifeb.Aciay @liferensummny eggihsonandluctny 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 EFTA00908442