ASSET SUMMARY 9/30112

ASSET SUMMARY 9/30112 Leon & Debra Black 7.2% Interest in BFP $ 123.1ma Art.books.etc at cost $1.6bil E Starfire $25mil Cash at USTrust: $13rnil Cash&Mkt Sec at JPM $12mil Note due from 1997 Trust $19mil (Note payable due to BFP $62mi1) Marketable Securities: 58.8ma AP Alternative Assets 58.7mi1 AP InvestmentEurope ltd$0.1mil Investment Partnershlos$6mil Apollo IF/EU Advisors&Colnyest Apollo Advisors III Apollo Men Advisors Apollo Men Colnvestors Excelsior Advisors Apollo El II Coinvest LLC Apollo RE V Colnvest LLC Apollo Real Estate Cap Partners Apollo Real Estate Fund LP AP AR Holdco 0.2 AP Technology 0.1 Valcour II Assoc Residual Inv Corp Will Cardiff Asoclates LP .881 M-Cfift Partners LP Pegasus Partners LP .052 Power Investors LP Protocols of LonLP Remainderman LLC .354 Multiple Theatre related LLCs Real Estate: $105m0 Life Insurance cash value$21.1m0 Total Value $1.87 bit LDB 2011 LW 7.0% Interest in FOP $119mil M at Cost Cash at JP Morgan Stocks held at JPM $47 mil $16.5 mil $2 mil Investment Partnershiris:$14.1 me AP Technology PartnersLLC 0.6 AP SHL Investors LLC Apollo RE Investment Fund AREIF III Transfer Members LLC BHM Investors M•Clift Partners .231 Microbes Investors LLC Remainderman Investors LLC .3 AREIF Colnv IV Vuoproto Investors LLC Apollo FCI Colnv 13.0 Apollo Investment Fd Searchlight Capital 0.5 Total Value $ 198mil 1997 Black Family Trust 4.55% Interest BFP $77.4 mil Art at Cost $201 mil Art at cost Cash at US Trust Cash at US Trust $22.2 mil Cash/Stocks at BS/JPM $2.1mil (Note payable to LDB $19mil) 101 Warren Street Apt $3.0mil Marketable Securities: $10.8 mil BlueStar I, LLC 50.209 mil Buckingham RAF Ptrs $10.6 mu Investment PstriemIlla $B.Omil Apollo Advisors II AREIF Ill Colnvest LW AREIF IV Colnvest LLC Apollo RE Advisors IV, LP Apollo RE Advisors III, LP AP Energy Partners Dune Real Estate Fund LW 1.7 Giftherse Ptrs LLC .227 Quadrangle Cap Pas 114.1 Markstone Cap Pbs .237 ProQuest Investments .114 Blue Sunshine 2006 Trust 72.2%Int in BFP/ LBF$1.23bil $58 m0 $21.3mil Apollo Investment Corp S 5.7mil Apollo Credit Oppor Fd $188 mil (Note payable to BFP $21 mi) Note due from 2009Trust $21mil 1997 Black Family GST Exempt Trust Cash at US Trust $3 0mil Total Value $308.6 mil Total Value 51.503 bit Judah 2009 Trust 9.0% Interest in BFP $153.5 mil (Notepayable to 2006Trust $21mi1) Total Value $132.6mil Black Family Partners Cash $27.3 mil 44%Interest BRH HIdgs$1.35bil Apollo Colnvest III WA mil Apollo Colnvest IV $0.7mi1 Apollo Colnvest V $7.3 mil Apollo Colnvest VI $43.2 mil Apollo Value Colnvest $7.8 mil SOMA Colnvest $2.2 mil Marketable Securities.$109.7 ml! Lone Cascade LP $47.3rnsi King Street Capital $13.5mil AINV shs dist fr AIC $.5.6mil Anchorage Capital Ptrs 513.3m0 Millennium Group 320.6mil CanyonVatueRealization$15.0mil Investment Partnershios•$57.3mll HAO Capital Fund LP $3.5mi Crete LLC $1.8 mil Knowledge Universe LP$32.0mil Wolfensohn Cap Ptrs $2.0mil SustainableWoodlands $18.2mi Note duo from 2006 Trust $21mil Note due from LDB $62mi1 Total Value $1.70b11 •AGM sits at $14.66, marketable securities values at 9/30/12 Investment Partnerships based on most recent K•1 where interim mkt values are not available ASSET TOTAL $4bil Liaol.ares- An Loar $39mul NET WORTH $3.6 bif EFTA01128073 ASSET SUMMARY 9130/12. Leon & Debra Black LDB 2011 LLC 1997 Black Family Trust 2008 Trust Judah 2009 Trust Black Family Partners 7.2% Interest in BFP $ 123.1mil 7.0% Interest in BFP $119mil 4.55% Interest BFP $77.4 mill72.2%Int in I3FP/ LBF$1.23bil 90% Interest In BFP $153.5 mil Cash $27.3 mil (Notepayable to 2006Trust $21m8) Artbookeetc at oast $1Sbil E Art at Cost $47 mil Art at Cost $201 mil An at cost $58 mil 44%Interest BRH HIdgs$1.35bil Starfire $25mil 9 2,..s OCash at US Trust (Snyill Cash at USTrust: $13m11 Cash at JP Morgpn CEIMOrill Cash at US Trust pal mil Apollo Colnvest III $2.1 mil Cash&Mkt Sec at JPM $12m11 -10 h.e pine.:,...4.—• Cash/Stocks at BS/JPM $2.1mIl Apollo Investment Corp $ 5.7mil Apollo Colnvest IV $0.7mi1 Note due from 1997 Trust $19m11 (Note payable due to BFP $62mil) Stocks held at JPM $2 and Partnershios:$14.1 mil (Note payablejo LDB Sa9nal, net 4-4 6FP VD6- 4 - Investment 101 Warren Street Apt $3.0mil Apollo Credit Oppor Fd $ I (Note payable to BFP 1 Note due from 2009Trust $2 mil pit glit.tv Apollo Colnvest V $7.3 mil Apollo Colnvest VI $43.2 mil Apollo Vakie Colnvest $7.8 mil AP Technology PartnersLLC 0.6 Marketable Securities: $8 Bra SOMA Coinvest $2.2 mil AP Alternative Assets $8.7m11 AP SHL Investors LLC Marketable Securities: $10.8 mil AP InvestmentEurope Ltd$0.1mil Apollo RE Investment Fund BlueStar I, LLC $0.209 mil marketable Secutitles:S109.7 mil Investment PartnershipsS6md AREIF III Transfer Members LLC Buckingham RAF Ptrs $10.6 mi Lone Cascade LP $47.35 Apollo IF/EU Advlsors&Colnvest BHM Investors King Street Capital $13.55 Apollo Advisors III M-Cfft Partners 231 AINV shs dist fr AIC $5.6m11 Apollo Men Advisors Microbes Investors LLC Anchorage Capital PUB $13.351 Apollo Men Colnvestors Remalnderman Investors LLC .3 Millennium Group $20.551 Excelsior Advisors AREIF Colnv IV CanyonValueRealization$15.0md Apollo El II Colnvest LLC Viroproto Investors LLC Investment Partnerships' $8.0mll Apollo RE V Colnvest LLC Apollo FCI Colnv 13.0 Apollo Advisors II Apollo Real Estate Cap Partners Apollo Investment Fd AREIF III Colnvost LLC Investment Partnershios:$57.3mil Apollo Real Estate Fund LP Searchfight Capital 0.5 AREIF IV Colnvest LLC HAG Capital Fund LP $3.5mi1 AP AR Heide* 0.2 Apollo RE Advisors IV. LP Crete LLC $1.85 AP Technology 0.1 Apollo RE Advisors III, I.P Knowledge Universe LP$32.0mil Valcour II Assoc AP Energy Partners Woltensohn Cap Ptrs $2.05 Residual Inv Corp l&II Dune Real Estate Fund LLC 1.7 SustainableWoodlands $18.2mil Cardiff Asociates IP .881 Gifthorse PUs LLC .227 M-Clift Partners LP Quadrangle Cap Ptrs II 4.1 Note due from 2006 T 21mj.L. Pegasus Partners LP .052 Markstone Cap Ptrs .237 Note due from LOB rm Power Investors LP ProQuest Investments .114 Protocols of ZionLP Blue Sunshine 6-1-') Remainderman LLC .354 /1, Multiple Theatre related LLCs 1997 Black Family GST Ex rust Real Estate: $105mil Cash at US Trust , 3 0mi (souk 4- at lite Insurance cash value$21.1mi Total Value $1.87 bit Total Value $ 198mil Total Value $308.5 mil Total Value $1 .503 bit Total Value $132.5m11 Total Value $1.70bil 'AGM shs at $14.66, marketable securities values at 9130/12 Investment Partnerships based on most recent K-1 where interim mkt are not available ASSET TOTAL $4bi1 I lac, I: Ar, Loan S39.'; mil NET WORTH $3.6 bil a/dr 64„n_ l'ivh2_ EFTA01128074