ALL FAMILY ENTITIES

ALL FAMILY ENTITIES ENTITY/OWNERS sa l PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY AIF IV Management, Inc. Directors: Leon D. Black and Directors manage the company. John J. Hannan Shareholder: Leon D. Officers: Black President: Leon D. Black Vice Presidents: Andrew Africk, Marc Becker, Laurence Berg, Anthony Civale, Peter P. Copses, Tom Doria (also Assistant Controller). Stephanie Drescher, Barry Giarraputo, John J. Hannan, Joshua Harris, Andrew Jhawar, Scott Kleinman, Jessica Lomm, Steve Martinez, Laurie Medley (also Assistant Secretary). Patricia Navis (also Assistant Secretary), Stanley Parker, Eric Press, Marc J. Rowan, Robert Seminara, Bruce Spector. Aaron Stone, John J. Suydam (also Secretary). Anthony Tortorelli (also Controller), Jordan Taken and Eric Zinterhofer (as of January 16, 2007) 1 4/10/2015 7:18 PM EFTA01203778 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY AP Narrows LP Limited Partners: Leon D. The Class A General Partner shall have the Black and Narrows Holdings exclusive authority to manage the business of the Class A General LLC Partnership and to carry out the purposes of the Partner: Leon D. Black Partnership; provided, however, that no Class A General Partner shall participate in decisions regarding (i) the Class B. General timing or amount of distributions to the Partners (whether Partner: Narrows in cash or in kind); (ii) use of the Partnership property by Holdings LLC the Partners; (iii) consent to the pledge of Partnership Interests as collateral for a Partner's loans; or (iv) dissolution of the Partnership. The Class B General Partners shall have full and exclusive authority to make all decisions regarding (i) the timing or amount of distributions to the Partners (whether in cash or in kind); (ii) use of the Partnership property by the Partners to the extent not otherwise rented for fair market rental value or loaned for exhibition; (iii) consent to the pledge of Partnership Interests as collateral for a Partner's loans; (iv) dissolution of the Partnership; and (v) such other acts specifically provided in the LLC Agreement 2 4/10/2015 7:18 PM EFTA01203779 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY APO' Agreement Trustees: Bany J. Cohen, John Brad Wechsler, Eileen Delegation: Each of Brad, Eileen and Rich J. is appointed as a Delegee under the Delegation of Authority J. Hannan and Richard Ressler Beneficiaries: Debra Alexanderson and dated 2/13/15 with authority to perform such ministerial Black and the descendants of Leon D. Rich Joslin acts on behalf of the Trustees as shall be necessary to implement the loan from the trust to Phaidon Global Black John J. Hannan LLC, including, without limitation, signing checks and instruments of transfer, executing wire transfers and other banking transactions in connection with the loan. Delegation: Pursuant to a Delegation of Authority to Co- Trustee dated 2/13/15, the Trustees grant to John J. Hannan, as co•Trustee of the trust, full power and authority to make any decisions and perform any acts on behalf of the Trustees in order to implement the loan from the trust to Phaidon Global LLC, including, without limitation, negotiating and signing loan agreements and promissory notes, authorizing the signing of checks and instruments of transfer, wire transfers and other banking transactions in connection with the loan. 3 4/10/2015 7:18 PM EFTA01203780 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED alit CURRENT ACTIVITIES ON BEHALF OF ENTITY APO2 Declaration Trustees: Barry J. Cohen. John Brad Wechsler. Delegation: Each of Brad. Eileen and Rich J. is J. Hannan and Richard Ressler Eileen appointed as a Delegee under the Delegation of Authority Beneficiaries: Debra Alexanderson and dated 2/13/15 with authority to perform such ministerial Black and the descendants of Leon D. Rich Joslin acts on behalf of the Trustees as shall be necessary to implement the loan from the trust to Phaidon Global LLC Black John J. Hannan and the guarantee for the benefit of Phaidon Global LLC, including, without limitation, signing checks and instruments of transfer, executing wire transfers and other banking transactions in connection with the loan and guarantee. Delegation: Pursuant to a Delegation of Authority to Co- Trustee dated 2/13/15, the Trustees grant to John J. Hannan, as co•Trustee of the trust, full power and authority to make any decisions and perform any acts on behalf of the Trustees in order to implement the loan from the trust to Phaidon Global LLC and the guarantee for the benefit of Phaidon Global LLC, including, without limitation, negotiating and signing loan agreements and promissory notes and pledge or guarantee agreements, authorizing the signing of checks and instruments of transfer, wire transfers and other banking transactions in connection with the loan and the guarantee. APOI GRAT, APOI Trustee: Leon D. Black GRATs No. 2-7 Beneficiaries: APO1 Agreement (Debra Black and the descendants of Leon D. Black) 4 4/10/2015 7:18 PM EFTA01203781 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY ARSP, LLC Member: AS Holdings Ltd. Manager: Keith Fox Managers manage the company. No officers appointed. Artspace LLC Member: ARSP LLC Manager: Keith Fox Managers manage the company. No officers appointed. AS Holdings Ltd. Member: PASI LLC Director: PASI LLC Board of Directors manages the company. Officers have the powers delegated to them by the Board. Appointment of PASI LLC as Director of AS Holdings Ltd. accepted by Eileen Alexanderson [Authority?] Officers: President: Eileen Alexanderson Secretary: Codan Services Ltd. Avioneta Holdings LLC Members: Leon D. Black (50.1%) and Debra R. Black (49.9%) per structure chart Manager: unknown Note: We have no incorporation documents and no documents setting forth the powers of the directors and officers. We are requesting these documents from John Hannan. John J. Hannon signed a Promissory Note dated 8/31/11 as "President and a Member." Officers: President: John J. Hannan BJAV Marine Ltd. Shareholder: Arcadia Nominees Ltd. (nominee for Leon D. Black) Director: Eileen Alexanderson Directors manage the company. Officers have the powers delegated to them by the Directors. Officers: Secretary: Arcadia Secretaries Ltd. 5 4/10/2015 7:18 PM EFTA01203782 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY Benjamin Black 2010 Trust Beneficiaries: Ben Black (after his death, his descendants or, if none, descendants of Leon and Debra Black) Trustee: Leon a Black Administrative Trustee: US Trust Company of Delaware Trust Advisor of the trust held under Article II: Debra R. Black Black Family 1997 GST Tax-Exempt Trust Beneficiaries: Debra Black and the descendants of Leon D. Black Trustees: Debra R. Black. Barry J. Cohen, John H. Hannan and Richard Ressler Black Family 2011 Trust ASB 2011 Trust BEB 2011 Trust JMB 2011 Trust VRB 2011 Trust Each child is the beneficiary of his or her own trust. Trustees: Debra R. Black, Barry J. Cohen, John J. Hannan Administrative Trustee: US Trust Company of Delaware 6 4/10/2015 7:18 PM EFTA01203783 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED PERSONS WITH AUTHORITY GRANTED CURRENT ACTIVITIES TO ACT - GOVERNING DELEGATED ON BEHALF OF ENTITY INSTRUMENTS AUTHORITY Black Family GP, LLC Manager: Leon D. Black John Hilderbrandt Managers have sole right to manage the business of the company. Officers: Member: Leon D. Officers have "full authority and power to act for and on Black Vice President: John Suydam behalf of the Company, as an authorized officer thereof. including, without limitation, the execution of documents and other instruments for and on behalf of the Company" and are authorized to "open, maintain, close and initiate transfers to and from any accounts, including, without limitation, commodities accounts, margin accounts and any other accounts with banks or brokers." Delegation. John Hilderbrandt is an "Authorized Person" is authorized pursuant to the LLC agreement with authority to open bank accounts and to prepare and execute in the name of the Company any documents necessary to open bank accounts. Black Family Limited Partners: General Partner manages the property. business and Partners, LP Leon D. Black affairs of the partnership. LBF Holdings LLC General Partner: Black Judah Investment Trusts K-O Family GP LLC Black Family 1997 Trust Leon D. Black Investment Trust A Trusts for each of the children u/a/d 11/30/92 Trusts for each of the children u/a/d 8/1/88 AIF IV Management, Inc. 7 4/10/2015 7:18 PM EFTA01203784 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY BV70 LLC Member: Leon D. Black Manager: Debra R. Black Eileen Alexanderson Andrew Messinger Managers manage the company. If more than one manager is serving, they must act unanimously. Officers have the powers delegated to them by the Managers. Delegations. Each of Eileen Alexanderson and Andrew Officers: President: Debra R. Black Vice President: Leon D. Black Secretary and Treasurer: Eileen Alexanderson Messinger is an "Authorized Person" pursuant to an Action of Manager dated 6/25/14 with authority to act in connection with purchasing or leasing real or personal property. banking, investment and administrative transactions, and any transactions necessary to implement any decision made by the Manager. and to act on the written or oral instructions of the Manager. Debra and Leon D. Black Insurance Trust (1992) Beneficiaries: descendants of Debra Black and Leon D. Black Trustee: Barry J. Cohen Donalbane House LLC Member: Benjamin Black 2010 Trust Manager: Benjamin E. Black Eileen Alexanderson Managers manages the company. If more than one manager is serving, they must act unanimously. Officers have the powers delegated to them by Managers. Delegation. Eileen Alexanderson is an "Authorized Officers: President: Benjamin E. Black Vice President: Debra R. Black Secretary and Treasurer: Eileen Alexanderson Person" pursuant to an Action of Manager dated 8/6/14 "with authority to act in connection with purchasing and leasing property (including 60 West 11'" Street), banking, investment, real estate and administrative transactions, and any transactions necessary to implement any decision made by the Manager, and to act on the written or oral instructions of the Manager. 8 4/10/2015 7:18 PM EFTA01203785 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY I AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY DRB Productions, Inc. Note: We have no incorporation documents and no documents setting forth who the directors and officers are and what powers they have. Elysium Management LLC Member: Leon D. Black Managing Directors: Leon D. If majority of the Managing Directors have approved, each Managing Director may take all actions on behalf of the company. No prior approval required if actions are purely ministerial and administrative in nature. Officers may take any and all actions (including engaging in banking transactions, executing, delivering and performing any and all contracts, agreements, certificate. undertakings or other documents or instruments) and do any and all things necessary, desirable, convenient or incidental to carry on the business and purposes of the Company. Black, Brad Wechsler Officers: President: Leon D. Black Vice President: Debra R. Black Secretary and Treasurer: Eileen Alexanderson Friends Ventures LLC Members: Leon D. Black and Ronald S. Lauder Members: Leon D. Black and Eileen Alexanderson Members, acting unanimously, manage the company. Delegation. Eileen Alexanderson is an "Authorized Ronald S. Lauder Person" pursuant to Resolution by Consent of the Members 10/16/14 with authority to act in the name and on behalf of Friends Ventures "in connection with banking transactions." Gandalf Trust Beneficiaries: Debra Black and descendants of Alex Black Trustee: Leon D. Black 9 4/10/2015 7:18 PM EFTA01203786 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY JMWT Acquisition LLP Members: Phaidon Global LLC and Phaidon LLC Managing Member: Phaidon Managing Members manages the LLP and the investment of the LLP in Phaidon Press Ltd., but must consult with the other Members with respect to: changing the Accounts Date and any Financial Year, increasing or reducing total capital requirement, approving the Accounts for each Financial Year, changing the LLP's name, holding a meeting of the Members on short notice. admitting any person as a New Member, assignment of rights or obligations under the LLP agreement by the LLP or any Member or Former Member, sale. assignment, transfer or other disposal of capital or other interests in the LLP by any Member or Former Member. winding up or other insolvency-related steps. LLC (as of 8/15/13 reorg) JMWT LLC Member: Leon D. Black Manager: Leon D. Black Managers manage the company. JMWT Ltd. Wholly owned subsidiary of JMWT Midco Ltd. Directors: Leon D. Black. Directors manage the company. Debra R. Black and Eileen Alexanderson JMWT Midco Ltd. Wholly owned subsidiary of JMWT Topco Ltd. Directors: Leon D. Black and Note: We have no incorporation documents and no documents setting forth the powers of the directors. Directors are listed in the Report and Financial Statements for the period ended 30th June 2013. Eileen Alexanderson 10 4/10/2015 7:18 PM EFTA01203787 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY JMWT Topco Ltd. Wholly owned subsidiary of JMWT Acquisition LLP Directors: Leon D. Black and Note: We have no incorporation documents and no documents setting forth the powers of the directors. Directors are listed in the Report and Financial Statements for the period ended 30ih June 2013. Eileen Alexanderson Joshua Max Black 2011 Trust Beneficiaries: Josh Black (after his death. his descendants, or if none, the descendants of Leon and Debra Black) Trustee: Leon D. Black Administrative Trustee: US Trust Company of Delaware Trust Advisor of the trust held under Article II: Debra R. Black LBF Holdings, LLC Member: APO I Agreement Manager: Leon D. Black John Hilderbrandt Manager manages the company. Any manager, officer or Authorized Person can open bank accounts and is authorized to complete the necessary paperwork to open bank accounts. John Hilderbrandt is an Authorized Person. LDB 2011 LLC Member: APOI Agreement Manager: Barry J. Cohen Eileen Alexanderson Managers manage the company. If there are two managers, they must act by unanimous consent. If there are more than two managers, they must act by majority. Officers have the powers delegated to them by the Managers. Delegation. Eileen Alexanderson is an "Authorized Officers: President: John J. Hannan Vice President: Richard Ressler Treasurer: Barry Cohen Secretary: Eileen Alexanderson Person" pursuant to an Action of Manager dated 6/30/14 with authority to act in connection with banking, investment and administrative transactions, including any transactions necessary to implement any decision made by the Managers and to act on the written or oral instructions of any one Manager. 11 4/10/2015 7:18 PM EFTA01203788 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY LDB 2014 LLC Member: BEB 2011 Trust, JMB 2011 Trust, ASB 2011 Trust and VRB 2011 Trust Manager: Barry J. Cohen Eileen Alexanderson Managers manage the company. Officers have the powers delegated to them by the Managers. Delegation. Eileen Alexanderson is an "Authorized Officers: President: John J. Hannan Vice President: Richard Ressler Treasurer: Barry J. Cohen Secretary: Eileen Alexanderson Person" pursuant to an Action of Manager dated 6/5/14 with authority to act in connection with banking, investment and administrative transactions, including any transactions necessary to implement any decision made by the Managers and to act on the written or oral instructions of any one Manager. LDB Foundation Directors: Leon D. Black, Directors manage the foundation and act by majority vote. Officers have the powers delegated to them by the Directors. Powers and duties of President, Secretary and Treasurer are set forth in the Bylaws. Jonathan Levine, Debra R. Black, Ralph Lerner Officers: President: Leon D. Black Treasurer and Secretary: Jonathan Levine Assistant Treasurer: Debra R. Black Assistant Secretary: Ralph Lerner Leon Black 1999 Life Insurance Trust 2 Beneficiaries: descendants of Leon D. Black Trustees: Barry J. Cohen John J. Hannan Richard Ressler 12 4/10/2015 7:18 PM EFTA01203789 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS dlb PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED a _ CURRENT ACTIVITIES ON BEHALF OF ENTITY Leon Black Family Foundation, Inc. Directors: Leon D. Black, Directors manage the foundation. Directors may appoint committees, including an Executive Committee. Directors may also appoint officers, whose powers and duties are outlined in the Bylaws. Debra R. Black, John J. Hannan, Jonathan Levine, Barry J. Cohen, Anthony Ressler Officers: President: Leon D. Black Vice President: Debra R. Black Treasurer: Leon D. Black Secretary: Debra R. Black Lit Kit LLC Members: Phaidon Global LLC and Regan Media, Inc. (which is wholly owned by Judith Regan) Board of Managers: JMWT Board of Managers manages the company, but: "For so long as she remains CEO of the Company, Judith Regan shall be responsible for the day to day management of the Company." Governing documents contain lists of actions that managers can do alone, that require unanimous approval of members, that require approval of members holding a majority of Profits Interests, and that require approval of Judith Regan as long as she is CEO. LLC and Judith Regan Officers: CEO: Judith Regan Maybe in Moscow, LLC Member: Alexander Black Manager: Alexander Black Brad Wechsler, Eileen Alexanderson. Officers Jean Pesce and Arlen Konopaki Managers manage the company. If more than one manager is serving, they must act unanimously. have the powers delegated to them by the Managers. Delegation: Each of Brad, Eileen, Jean Pesce and Arlen Konopaki is an "Authorized Person" pursuant to an Action of the Manager dated 3/30/15 with authority to act on behalf of the company with banking and administrative transactions including any transactions necessary to implement any decision made by the Manager and to act on the written or oral instructions of the Manager. 13 4/10/2015 7:18 PM EFTA01203790 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY Mallory Trust Beneficiaries: Leon D. Black and descendants of Debra Black Trustees: Leon D. Black. Debra R. Black and Richard Ressler NAR Investments LLC Member: Black Family Partners, LP Manager: Leon D. Black Managers manage the company. If there are two managers serving, they must act unanimously. If there are more than two managers serving, they must act by majority. Officers have the powers delegated to them by the Managers. Officers: President: John J. Hannan Vice President: Richard Ressler Secretary: Eileen Alexanderson Treasurer: Bany J. Cohen Narrows Holdings LLC Member: Leon D. Black LLC is member managed. Diana Howard Members manage the company. Delegation: Diana Howard is an "Authorized Person" pursuant to a Resolution by Consent of the Sole Member dated 10/7/14 with authority to sign art loan agreements and bailment agreements relating to art loans. Narrows Holdings II LLC Member: Leon D. Black Manager: Leon D. Black Managers manage the company. Noel Calb LLC Member: Leon D. Black LLC is member managed. Members manage the company. 14 4/10/2015 7:18 PM EFTA01203791 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY NY 70th Street CAM Manager: John J. Hannan Eileen Managers manage the company. If more than one LLC Alexanderson manager is serving, they must act unanimously. Officers: Members: Leon D. Rich Officers have the powers delegated to them by the Black and NY 70th President and Vice President: Managers. John J. Hannan Street LLC Secretary and Treasurer: Delegation. Eileen Alexanderson is an "Authorized (Capital Account Manager for NY 70ih Street LLC) Eileen Alexanderson Person" pursuant to an Action of Manager dated 9/4/14 with authority in connection with purchasing real or personal property, banking, investment and administrative transactions, and any transactions necessary to implement any decision made by the Manager, and to act on the written or oral instructions of the Manager. Delegation. Rich is a an authorized person pursuant to an Action of Manager dated 9/4/14 with authority to act in connection with banking and administrative transactions not to exceed, in each instance, the sum of Fifty Thousand Dollars ($50,000), and any transaction necessary to implement any decision made by the Manager and to act on the written or oral instructions of the Manager. 15 4/10/2015 7:18 PM EFTA01203792 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY NY 70'h Street LLC Manager: John J. Hannan Eileen Managers manage the company. Alexanderson Member: APO I Officers: Officers have the powers delegated to them by the Agreement Managers. President: John J. Hannan (Nominee for Leon D. Vice President: Delegation. Eileen Alexanderson is an "Authorized Black and NY 70th Eileen Alexanderson Person" pursuant to an Action of Manager dated 6/12/14 Street LLC) Secretary: Richard Ressler Treasurer: Barry J. Cohen with authority to act in connection with banking, investment, real estate and administrative transactions. including execution of purchase and sales agreements and any transactions necessary to implement any decision made by the Managers and to act on the written or oral instructions of any one Manager. Second Delegation. Eileen Alexanderson is an "Authorized Person" pursuant to an Action of Manager dated 6/12/14 with authority to act in connection with banking, investment, real estate and administrative transactions, including execution of purchase and sales agreements (including the purchase of an interest in 19 East 70 Street) with respect to any transactions necessary to implement any decision made by the Managers and to act on the written or oral instructions of any one Manager and with authority to exercise the powers of the Capital Account Manager with respect to any Capital Account created pursuant to a split purchase agreement between the Company and Leon D. Black in connection with the purchase of 19 East 70. Nominee Agreement dated 8/28/14: Leon D. Black and NY 70th Street LLC authorize NY 70'h Street LLC as Nominee to hold title to 19 East 70th Street property and Nominee agrees to act solely as agent and on behalf of Leon D. Black and NY 70th Street LLC as beneficial owners. 16 4/10/2015 7:18 PM EFTA01203793 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY OFH LLC Member: APO.? Declaration Manager: John J. Hannan Managers manage the company. If more than one manager is serving, they must act unanimously. Officers have the powers delegated to them by the Managers. PASI, LLC Member: APO2 Declaration Manager: Barry J. Cohen Managers manage the company. Manager may appoint Officers and assign titles to them and, unless the Manager decides othenvise, the appointment of an officer constitutes the delegation to such person of the authorities and duties that are normally associated with that office. Each officer has the authority to bind the company in the ordinary course of business. Appointment of PASI, LLC as Director of AS Holdings Ltd. accepted by Eileen Alexanderson I Authority?1 PAT70 LLC Member: Debra R. Black Manager: Debra R. Black Eileen Alexanderson Managers manage the company. Officers have the powers delegated to them by the Managers. Delegation. Eileen Alexanderson is an "Authorized Officers: President: Debra R. Black Vice President: Debra R. Black Secretary and Treasurer: Eileen Alexanderson Person" pursuant to an Action of Manager dated 6/25/14 with authority to act in connection with leasing property, banking, investment, real estate and administrative transactions, and any transactions necessary to implement any decision made by the Manager, and to act on the written or oral instructions of the Manager. Pent Holdings, Inc. Shareholder: Leon D. Black Director: Leon D. Black Note: We do not have the incorporation documents for Pent Holdings, Inc. or anything showing the powers of the directors or officers. The identity of the directors and officers is based on an Action in writing without a Meeting dated 2/26/93. Officers: President: Leon D. Black Secretary: Debra R. Black 17 4/10/2015 7:18 PM EFTA01203794 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY Phaidon Global LLC Members: JMWT LLC and PLB, LLC Manager: JMWT LLC Managers manage the Company. Managers may appoint Officers and assign titles to them and, unless the Manager decides othenvise, the appointment of an officer constitutes the delegation to such person of the authorities and duties that are normally associated with that office. Each officer has the authority to bind the company in the ordinary course of business. Director: Leon D. Black (per letter to board of JMWT Acquisition LLP dtd 12/18/14; no appointment document) Phaidon LLC Member: Phaidon Global LLC Manager: JMWT LLC Managers manage the Company. Managers may appoint Officers and assign titles to them and, unless the Manager decides othenvise, the appointment of an officer constitutes the delegation to such person of the authorities and duties that are normally associated with that office. Each officer has the authority to bind the company in the ordinary course of business. Phaidon Press Ltd. Shareholders: PLB LLC and JMWT LLC Directors: Directors manage the company. Directors must act by majority decision, and a majority decision is defined as a decision with not more than one director dissenting. Keith Fox, John Murphy, Andrew Price, Deborah Aaronson, Emilia Terragni, James Booth-Clibbom, Eileen Alexanderson Officers: CEO and Chairman: Keith Fox Secretary: Jonathan Whale 18 4/10/2015 7:18 PM EFTA01203795 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED A a CURRENT ACTIVITIES ON BEHALF OF ENTITY PLB, LLC Members: APOI Agreement, APO2 Declaration and Black Family 1997 GST Trust Manager: John J. Hannan Managers manage the Company. Managers may appoint Officers and assign titles to them and, unless the Manager decides otherwise. the appointment of an officer constitutes the delegation to such person of the authorities and duties that are normally associated with that office. Each officer has the authority to bind the company in the ordinary course of business. Officers (no assigned titles): John J. Hannan Barry Cohen Debra Black Regan Arts LLC Member: Phaidon Global LLC Board of Managers: Board of Managers manages the company. Any Manager. acting alone, is authorized to: (i) sign JMWT LLC and Judith Regan Officers: contracts and obligations of the Company, (ii) endorse checks, drafts and other evidence of indebtedness made payable to the Company, (iii) sign checks, drafts and other evidences of indebtedness obligating the Company to pay money in an amount less than $500,000. and (iv) take any other action in the ordinary course of business. Managers reauire approval of Member for: (i) execution CEO and President: Judith Regan of checks, drafts and other indebtedness obligating Company to pay more than $500,000, (ii) the incurrence of any indebtedness, (iii) execution of any agreement/transaction w/re: to any project that relates to the publishing of books, (iv) action or entering into agreement w/re: to proposed acquisition or disposal, (v) approval, amendments, modifications to Company's annual budget, (vi) any action materially outside the approved budget and (vii) any other action outside the ordinary course of business. Officers have the powers delegated to them by the Board of Managers. 19 4/10/2015 7:18 PM EFTA01203796 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED TO ACT - GOVERNING INSTRUMENTS PERSONS WITH DELEGATED AUTHORITY AUTHORITY GRANTED CURRENT ACTIVITIES ON BEHALF OF ENTITY Rollo Tomasi Trust Beneficiaries: Debra Black and the descendants of Victoria Black Trustee: Lcon D. Black SH Meadow Lane LLC Member: APO2 Declaration Manager: John J. Hannan Eileen Alexanderson Andrew Messinger Delegation. Eileen Alexanderson is an "Authorized Person" pursuant to an Action of Manager dated 10/6/14 with authority to act in connection with purchasing, leasing, maintaining and improving real or personal property, banking, investment and administrative transactions, and any transactions necessary to implement any decision made by the Manager, and to act on the written or oral instructions of the Manager. Delegation. Andrew Messinger is an authorized person pursuant to an Action of Manager dated 10/6/14 with authority in connection with purchasing, leasing, maintaining and improving real or personal property and administrative transactions in connection with the forgoing, and any transactions necessary to implement any decision made by the Manager or to act on the written or oral instructions of the Manager. Second Hand Smoke LLC Member: Alexander Black Manager: Alexander Black Note: We have no incorporation documents and no documents confirming the identity of the members and managers or their powers. Tron Trust Beneficiaries: Debra Black and the descendants of Josh Black Trustee: Leon D. Black 20 4/10/2015 7:18 PM EFTA01203797 ALL FAMILY ENTITIES ENTITY/OWNERS PERSONS AUTHORIZED PERSONS WITH AUTHORITY GRANTED CURRENT ACTIVITIES TO ACT - GOVERNING DELEGATED ON BEHALF OF ENTITY INSTRUMENTS AUTHORITY Yggdrasil Trust Trustee: Leon D. Black Beneficiaries: Debra Black and the descendants of Ben Black 21 4/10/2015 7:18 PM EFTA01203798