LEON D. BLACK -SS NO.

LEON D. BLACK -SS NO. SCHEDULE OF TAXABLE GIFTS MADE TO THE JUDAH INVESTMENTS TRUSTS (A THRU K) - DEC 21, 2006 GRANTOR RETAINED ANNUITY TRUSTS December 2006 (6.8%) TOTAL FOR ALL DECEMBER GRATS: year 1 2 annuity Percent annuity amount 49.5683% $ 290,175,433.68 59.4820% $ 348,210,520.41 99.9900% $ 585,346,794.47 $ 585,405,335.00 Initial FMV of trust $ 585,346,794.47 retained interest 68,640.63 taxable glft 99 99% 001% 100 00% Initial FMV of Trust Fund $ 460,000.00 Apollo Management III„ LP 1,420,000.00 Apollo Management IV, LP 3,690,000.00 Apollo Management V. LP $ 45,600,000.00 Apollo Management VI, LP $ 227,000,000.00 9,600,000.00 $ 87,000,000.00 $ 20,800,000.00 $ 98,800,000.00 $ 80,500,000.00 $ 10,535,335.00 $ 585,405,335.00 Apollo Investment Management, LP Apollo Value Inv Fund Mgt., LP Apollo SVF Management. LP Apollo Asia Management LP Apollo Europe Management LP Apollo Alternative Assets LP Apollo Adv VI LP & Apollo Adv. VI (EH) LP TOTAL Judah Investment Trust A December 2006 (5.8%) year 1 2 annuity percent annuity amount 49.5683% $ 228,014.15 59.4820% $ 273,616.98 99.9900% $ 459 954.00 460,000.00 initial FMV of trust 459,954.00 retains interest $ 46.00 taxable gift S 460.000.00 appraised value of 30.35% interest in Apollo Management III LP EFTA01127743 • LEON D. BLACK - SS NO SCHEDULE OF TAXABLE GIFTS MADE TO THE JUDAH INVESTMENTS TRUSTS (A THRU K) - DEC 21, 2006 GRANTOR RETAINED ANNUITY TRUSTS (CONTINUED) PG 2 OF 6 Judah Investment Trust B December 2006 (5.8%) year annuity Percent annuity amount 1.420,000.00 1 49.5683% 2 59.4820% 99.9900% $ 703.869.77 $ 844.64172 $ 1.419.858.00 1,420,000.00 initial FMV of trust 1,419,858.00 retained interest 142.00 taxable gift appraised value of 30.35% Interest in Apollo Management IV, LP Judah Investment Trust C December 2006 (5.8%) year 1 2 annuity percent 49.5683% 59.4820% 99.9900% annuity amount $ 1,829.070.02 $ 2.194.884.03 $ 3.889.631.00 3,690,000.00 initial FMV of trust 3,689,631.00 retained interest S 369.00 taxable gift 3,690.000.00 appraised value of 30.35% interest in Apollo Management V. LP Judah Investment Trust December 2006 (5.8%) year 1 2 annuity percent 49.5883% 59.4820% 99.9900% annuity amount $ 22,603,141.76 $ 27,123,770.12 $ 45.595.440.00 S 45,600.000.00 S 45.595.440.00 4,560.00 initial FMV of trust retained interest taxable gift 45.600.000.00 appraised value of 30.35% interest in Apollo Management VI, LP EFTA01127744 LEON D. BLACK - SS NO SCHEDULE OF TAXABLE GIFTS MADE TO THE JUDAH INVESTMENTS TRUSTS (A THRU K) - DEC 21, 2006 GRANTOR RETAINED ANNUITY TRUSTS (CONTINUED) PG 3 OF 5 Judah Investment Trust E Decanter 2006 (5.8%) year annuity percent annuity amount 1 2 49.5683% $ 112,520.025.88 59.4620% $ 135,024,031.06 99.9900% $ 226,977,300.00 $ 227,000,000.00 initial FMV of trust S 226,977,300.00 retained interest 22,700.00 taxable gift 227,000,000.00 appraised value of 26.8% interest in Apollo Investment Management, LP Judah Investment Trust F December 2006 (5.8%) year 1 2 annuity percent annuity amount 49.5683% $ 4.758.556.16 59.4820% $ 5,710,267.39 99.9900% $ 9.599.040.00 9,600,000.00 initial FMV of trust 9,599,040.00 retained interest 960.00 taxable gift $ 9,600,000.00 appraised value of 26.9% interest in Apollo Value Investment Fund Management, LP Judah Investment Trust G December 2006 (5 8%) S 87,000,000 00 year 1 2 annuity percent 49.5683% 59.4820% 99.9900% annuity amount $ 43.124.415.21 $ 51,749,298.25 $ 86,991,300.00 $ 87,000,000.00 initial FMV of trust S 86,991,300.00 retained interest 8,700.00 taxable gift appraised value of 44% interest in Apollo SVF Management, LP EFTA01127745 0 LEON D. BLACK - SS NO SCHEDULE OF TAXABLE GIFTS MADE TO THE JUDAH INVESTMENTS TRUSTS (A THRU K) - DEC 21, 2006 GRANTOR RETAINED ANNUITY TRUSTS (CONTINUED) PG 4 OF 6 Judah Investment Trust H December 2006 (5.8%) year annuity percent annuity amount 1 49.5683% $ 10.310.205.01 2 59.4820% $ 12,372,246.02 99.9900% $ 20,797 920.00 $ 20,800,000.00 initial FMV of trust $ 20,797,920.00 retained interest $ 2,080.00 taxable gift $ 20,800,000.00 appraised value of 44% interest in Apollo Asia Management, LP Judah Investment Trust I December 2006 (5.8%) year annuity percent annuity amount 1 49.6683% $ 48,973,473.82 2 59.4820% $ 58,768,168.58 99.9900% $ 98,790,120.00 $ 98,800,000.00 initial FMV of trust $ 98,790,120.00 retained Interest 9,880.00 taxable gift $ 98,800,000.00 appraised value of 44% intorest in Apollo Europe Management, LP Judah Investment Trust J December 2008 (5 8%) year annuity percent annuity amount 1 49.5683% $ 39,902,476.14 2 59.4820% $ 47,882,971.37 99.9900% $ 80,491,950.00 80,500,000.00 initial FMV of trust 80,491,950.00 retained interest 8,080.00 taxable gift $ 80,500,000.00 appraised value of 44% interest in Apollo Alternative Assets, LP EFTA01127746 LEON D. BLACK - SS NO SCHEDULE OF TAXABLE GIFTS MADE TO THE JUDAH INVESTMENTS TRUSTS (A THRU K) - DEC 21, 2006 GRANTOR RETAINED ANNUITY TRUSTS (CONTINUED) PG 5 OF S Judah Investment Trust K December 2006 (5.8%) year annuity percent annuity amount 1 49.5683% $ 5,222,185.76 2 59.4820% $ 6,266,622.91 99.9900% $ 10 534 281 47 10,535,335.00 initial FMV of trust 10,634,281.47 retained interest 1,053.63 taxable gift $ 10,535.335.00 142 Points of Apollo Advisors VI and Apollo Advisors VI (EH) EFTA01127747 LEON D. BLACK Rider I to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security No. Disclosure Pursuant to Regulation Section 301.6501(c)-I (f)(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST A (Sch. A, Part 3, Item 11 The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust A (the 'Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as senior, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retained a Qualified Interest,.._asAefinecLia..§.2102(h) of the_IntemaLatienie_Qt(the "Code"). A copy of the Trust Agreement is attached as Exhibit G-I. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(b)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (I) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NYIA1320433101194.69011DOa2650/0001 EFTA01127748 On December 21, 2006, the Taxpayer contributed to the Trust a 30.35% limited partnership interest in Apollo Management III, LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G- I AP, on December 21, 2006 the gift tax value of the 30.35% limited partnership interest in Apollo Management III, LP the Taxpayer transferred to the Trust was $460,000. (1) Initial Fair Market Value of the Trust Fund $460,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for Dec 2006 5.8% (5) Value of Qualified Annuity $459,954 (6) Value of Gift $46.00 NV1:1151043901 \WL6901!-D0O2650.1.0001 2 EFTA01127749 LEON D. BLACK Rider I to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security No.- Disclosure Pursuant to Regulation Section 301.6501(c)-I (0(2) CONTRIBUTION TO JUDAFI INVESTMENT TRUST B (Sch. A, Part 3, Item 1) The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust B (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as settlor, and Leon D. Black and John Harman, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the taxpayer _02(b)_a_the_IntemaLRevenue Code4the "Code"). A copy of the Trust Agreement is attached as Exhibit G-2. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(b)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (1) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY I Al 52043701AWL6901100026504.000 I EFTA01127750 • On December 21,.2006, the Taxpayer contributed to the Trust a 30.35% limited partnership interest in Apollo Management IV LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G-2AP, on December 21, 2006 the gift tax value of the 30.35% limited partnership interest in Apollo Management IV, LP the Taxpayer transferred to the Trust was 51,420,000. (I) Initial Fair Market Value of the Trust Fund $1,420,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $1,419,858 (6) Value of Gift $142.00 NYIA152041MINWL690P.DOO26504.0001 2 EFTA01127751 LEON D. BLACK Rider 1 to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security No Disclosure Pursuant to Regulation Section 301.6501(c)-1(O(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST C (Sch. A, Part 3, Item It The transaction referred to as Item I on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust C (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as senior, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retained ratified Interest efined in § 2702(b) of the Internal Revenue Code (the "Code"). A copy of the Trust Agreement is attached as Exhibit G-3. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(6)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (1) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY I AlS204331015W1.6901100026504.0001 EFTA01127752 On December 21, 2006, the Taxpayer contributed to the Trust a 30.35% limited partnership interest in Apollo Management V, LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G-3AP, on December 21, 2006 the gift tax value of the 30.35% limited partnership interest in Apollo Management V, LP the Taxpayer transferred to the Trust was $3,690,000. (1) Initial Fair Market Value of the Trust Fund $3,690,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $3,689,631.00 (6) Value of Gift $369.00 NYIMS10433101W/14901100026504.0001 2 EFTA01127753 0 LEON D. BLACK Rider 1 to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security No Disclosure Pursuant to Regulation Section 301.6501(c)-1(f)(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST D (Sch. A, Part 3, Item I) The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust D (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as settlor, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retained a Qualified_ as deftmed in § 2702(b) of the Internal Revenue Code (the "Code"). A copy of the Trust Agreement is attached as Exhibit G-4. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(6)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item I of Schedule A, Part 3 of the Return, there is shown below (I) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY1:11$21:433131%1,6901400Ca6504.0001 EFTA01127754 • On December 21, 2006, the Taxpayer contributed to the Trust a 30.35% limited partnership interest in Apollo Management VI, LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G-4AP, on December 21, 2006 the gift tax value of the 30.35% limited partnership interest in Apollo Management VI, LP the Taxpayer transferred to the Trust was $45,600,000. (I) Initial Fair Market Value of the Trust Fund $45,600,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $45,595,440 (6) Value of Gift $4,560.00 NYB1520413101W/L690ILDOC‘26304.00011 2 EFTA01127755 LEON D. BLACK Rider 1 to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Securitv No.- Disclosure Pursuant to Regulation Section 301.6501(c)-1(O(2) CONTRIBUTION TO JUDAH INVESTMENT 'FROST E (Sch. A. Part 3. Item 1) The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust E (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as senior, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retained a Qualified jute.= ac defing.SlitintanaLic e "Code"). A copy of the Trust Agreement is attached as Exhibit G-5. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(b)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (I) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY I AI SIC433501W/L69011D0O.26508.0001 EFTA01127756 On December 21, 2006, the Taxpayer contributed to the Trust a 26.8% limited partnership interest in Apollo Investment Management LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G- 5AP, on December 21, 2006 the gift tax value of the 26.8% limited partnership interest in Apollo Investment Management LP the Taxpayer transferred to the Trust was $227,000,000. (I) Initial Fair Market Value of the Trust Fund $227,000,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $226,977,300 (6) Value of Gift $22,700.00 NYBIS20433VML690111)0026$04.0031 2 EFTA01127757 LEON D. BLACK Rider 1 to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security No. Disclosure Pursuant to Regulation Section 301.6501(c)-I (0(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST F (Sch. A. Part 3. Item 1) The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust F (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as senior, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retain&La Qualified Intereat• as defined in § 2702(b) of the Internal Revenue Code ate "Code"). A copy of the Trust Agreement is attached as Exhibit G-6. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(b)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item I of Schedule A, Part 3 of the Return, there is shown below (1) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY 320433% I W116901 WOO26504.000 I EFTA01127758 On December 21, 2006, the Taxpayer contributed to the Trust a 26.9% limited partnership interest in Apollo Value Investment Fund Management LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G- 6AP, on December 21, 2006 the gift tax value of the 26.9% limited partnership interest in Apollo Value Investment Fund Management LP the Taxpayer transferred to the Trust was $9,600,000. (I) Initial Fair Market Value of the Trust Fund $9,600,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year I; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $9,599,040 (6) Value of Gift $960 NY 1:1152043310 IMUS9011.D0026504.04101 2 EFTA01127759 • LEON D. BLACK Rider 1 to Form 709 United States Gift and Generation Skinning Transfer Tax Return Calendar Year 2006 Social Security No. Disclosure Pursuant to Regulation Section 301.6501(c)-1(f)(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST G (Sch. A, Part 3, item I) The transaction referred to as Item I on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust G (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as settlor, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retained-a--Qualified-Interestr ag_defined_in...§2702(b) of the InternaLRevertue_Code (the "Code"). A copy of the Trust Agreement is attached as Exhibit G-7. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(b)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (1) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NYI 52043TORWL690t!DO026504.0001 EFTA01127760 On December 21, 2006, the Taxpayer contributed to the Trust a 44% limited partnership interest in Apollo SVF Management LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G-7AP, on December 21, 2006 the gift tax value of the 44% limited partnership interest in Apollo SVF Management LP the Taxpayer transferred to the Trust was $87,000,000 (1) initial Fair Market Value of the Trust Fund $87,000,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for June 2004 5.8% (5) Value of Qualified Annuity $86,991,300 (6) Value of Gift $8,700.00 NY 1:115.2043101W/L6901tD0026504,C001 2 EFTA01127761 LEON D. BLACK Rider I to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security No. Disclosure Pursuant to Regulation Section 301.6501(c)-1(f)(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST H (Sch. A, Part 3, Item 11 The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust H (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as settlor, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retain,' a Quatifieft Isits-rect, as defined in § 2702(b) of the jytterrial Revenue Code (the "Code"). A copy of the Trust Agreement is attached as Exhibit G-8. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(b)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (1) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY I ft1520433'O11M1.690ILDOCU6504.0001 EFTA01127762 On December 21, 2006, the Taxpayer contributed to the Trust a 44% limited partnership interest in Apollo Asia Management LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G-SAP, on December 21, 2006 the gift tax value of the 44% limited partnership interest in Apollo Asia Management LP the Taxpayer transferred to the Trust was $20,800,000. (1) Initial Fair Market Value of the Trust Fund $20,800,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $20,797,920 (6) Value of Gift $2,080.00 NY1:11320431101\WL69011D0O26504.0001 2 EFTA01127763 LEON D. BLACK Rider I to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security No. Disclosure Pursuant to Regulation Section 301.6501(c)-1(f)(2) CONTRIBUTION TO JUDAFI INVESTMENT TRUST I (Sch. A. Part 3, Item 1) The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust I (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as senior, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer retainecLa_Qiialifiert inferno ac defined in § 77.02(b)_...oftheinte.maLReventte Code (the "Code"). A copy of the Trust Agreement is attached as Exhibit G-9. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(6)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (1) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY1:1020433b1W/1.6901!.000.26504.0001 EFTA01127764 On December 21, 2006, the Taxpayer contributed to the Trust a 44% limited partnership interest in Apollo Europe Management LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G-9AP, on December 21, 2006 the gift tax value of the 44% limited partnership interest in Apollo Europe Management LP the Taxpayer transferred to the Trust was $98,800,000. (1) Initial Fair Market Value of the 'Frust Fund $98,800,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 29.4820% in year 2 (3) Annuity Tenn Per Trust Agreement 2 Years (4) Section 7520 Rate for Deecember 2006 5.8% (5) Value of Qualified Annuity $98,790,120 (6) Value of Gift $9,880 NY I AlS204335011W1690 ILDOC26504.0001 2 EFTA01127765 LEON D. BLACK Rider 1 to Form 709 United States Gift and Generation 5k-swing Transfer Tax Return Calendar Year 2006 Social Security No. Disclosure Pursuant to Regulation Section 301.6501(c)-1(O(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST J (Sch. A, Part 3, Item 1) The transaction referred to as Item I on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust J (the 'Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as senior, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer ----retained-s- Qualified Interest, as defined in §2702(b).ol.the_Intema1 Revenue. Code (the__ "Code"). A copy of the Trust Agreement is attached as Exhibit G-10. Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and final anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(6)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (I) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY I Al S2C43MMUS90P.00O26504.0001 EFTA01127766 • On December 21, 2006, the Taxpayer contributed to the Trust a 44% limited partnership interest in Apollo Alternative Assets, LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Empire Valuation Consultants., a copy of which is attached as Exhibit G-I0AP, on December 21, 2006 the gift tax value of the 44% limited partnership interest in Apollo Alternative Assets, LP the Taxpayer transferred to the Trust was $80,500,000. (1) Initial Fair Market Value of the Trust Fund $80,500,000 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 29.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $80,491,950 (6) Value of Gift $8,050.00 NYIA15204330/11WL69011.00026504 0001 2 EFTA01127767 LEON D. BLACK Rider 1 to Form 709 United States Gift and Generation Skipping Transfer Tax Return Calendar Year 2006 Social Security Noa Disclosure Pursuant to Regulation Section 301.650I(c)-1(O(2) CONTRIBUTION TO JUDAH INVESTMENT TRUST K (Sch. A, Part 3. Item 1) The transaction referred to as Item 1 on Schedule A, Part 3 of this Return represents the contribution by Leon D. Black (the "Taxpayer") to the Judah Investment Trust K (the "Trust"), created under trust agreement dated December 21, 2006 (the "Trust Creation Date") between Leon D. Black, as senior, and Leon D. Black and John Hannan, as trustees (the "Trust Agreement"). The Trust is a grantor-retained annuity trust in which the Taxpayer _retained-a_Qualified_intexect, sq defined in § 7707(h) of_the Internal _Revenue_Code..(the "Code"). A copy of the Trust Agreement is attached as Exhibit G-1 I . Under the terms of the Trust Agreement, an annuity is payable from the Trust to the Taxpayer (or, if the Taxpayer is not living, to the Taxpayer's estate) on the day before the first anniversary of the Trust Creation Date, and on the day before the 2nd and fmal anniversary of the Trust Creation Date during the Trust's 2-year term. The value of the first annuity is equal to such percent of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes that, when increased by twenty (20%) percent in the 2nd and final year of the 2-year term, results in the Taxpayer's right to receive the annuity payments having a value equal to 99.99% of the fair market value of the trust fund of the Trust as finally determined for federal gift tax purposes. The value of the second and final annuity payable to the Taxpayer is equal to 120% of the value of the prior year's annuity. The Trust ends on the day before the 2nd anniversary of the Trust Creation Date. Upon the termination of the Trust, the remaining trust property will be distributed to the trustees of the Black 2006 Family Trust (the "Family Trust"), to be added to the principal of the Family Trust and disposed of therewith. The value of the gift is determined by subtracting the value of the qualified annuity interest from the value of the property contributed to the Trust. Under Treas. Reg. § 25.2702-2(b)(2), the value of a qualified annuity interest is determined under Code § 7520. Accordingly, for the transfer shown as Item 1 of Schedule A, Part 3 of the Return, there is shown below (1) the valuation of the initial fair market value of the Trust, (2) the annuity percentages taken from the Trust Agreement, (3) the annuity term taken from the Trust Agreement, (4) the § 7520 rate in effect for the month in which the transfers occurred, (5) the value of the qualified annuity and (6) the resulting gift. NY1.1152043310IMUS901EDOC\16501.0001 EFTA01127768 On December 21, 2006, the Taxpayer contributed to the Trust 142 Points of a limited partnership interest in Apollo Advisors VI, LP and Apollo Advisors VI (EH), LP, a Delaware limited partnership. The Taxpayer received no consideration from the Trust in return for his contribution. Based on an appraisal by Ernst & Young, LLP., a copy of which is attached as Exhibit G-1 I AP, on December 21, 2006 the gift tax value of the 142 points partnership interest in Apollo Advisors VI, LP and Apollo Advisors VI (EH), LP the Taxpayer transferred to the Trust was S10,535,335. (I) Initial Fair Market Value of the Trust Fund $10,535,335 (2) Annuity Rate Per Trust Agreement: 49.5683% in year 1; 59.4820% in year 2 (3) Annuity Term Per Trust Agreement 2 Years (4) Section 7520 Rate for December 2006 5.8% (5) Value of Qualified Annuity $10,534,281 (6) Value of Gift $1053.53 an :U5104131011%.4.6901!D00.26301.0001 2 EFTA01127769