EFTA Document EFTA01419747

Client Briefing Leon Black Chairman, CEO, Director - Apollo Global Management, LLC Managing Partner — Apollo Management, LP Brad Wechsler Managing Partner of Elysium Management, LLC (Leon's Family Office) Leon Black Brad Wechsler Client Attendees Brad Wechsler Head of Elysium Management, LLC DB Attendees Fabrizio Campelli Stewart Oldfield Global Head of Wealth Management Private Banker Date & Time: June 28, 2016 — 2:00pm Location: Brad Wechsler's office — 445 Park Ave Suite 1401, NYC Brad Wechsler — Biography Since January 2015 he has been the Managing Partner of Elysium Management, LLC, the family office for Leon Black Mr. Wechsler was the Co-Chairman and Co-CEO of IMAX Corporation (movie theater and media company) from May 1996-April 2009 and is currently the Chairman of the Board He is a close friend of Leon's from when they worked together at Drexel Burnham Lambert in the 1980s Mr. Wechsler became a Director of Apollo Investment Corp in April 2004 Mr. Wechsler is the Vice-Chairman of the board of the NYU Hospital and Medical Center, a member of the Executive Committee, and chairs its Finance Committee. He also sits on the board of Math for America and is a member of the Academy of Motion Picture Arts and Sciences Mr. Wechsler's wife, Patty Newburger, sits on the Board of Directors of Tribeca Film Institute Background / Discussion Points Meeting Purpose Elysium is relatively new family office and the focus has been organizing Mr. Black's RE, art, and other holdings. Mr. Black has been working over the last two years to properly structure the office and establish a wealth planning structure before turning the focus of the office towards becoming in investment-focused organization . DB wants to become an early partner and a major provider of investment advice as they grow. Elysium was initially covered by another banker, Paul Morris, who is no longer with DB. Stewart Oldfield has been involved in the relationship since he joined in 2014 and this meeting will continue to build the EFTA01419747 relationship. Client Biography — Leon Black #324 on the Forbes Billionaire list (#113 in US) at a stated net worth of $4.7BN Residence: NYC Married w/ 4 grown children Education: BA/BS from Dartmouth in Philosophy and History; MBA from Harvard Mr. Black founded Apollo Management, L.P. in 1990 to manage investment capital on behalf of a group of institutional investors, focusing on corporate restructuring, leveraged buyouts, and taking minority positions in growth-oriented companies. From 1977-1990, Mr. Black worked at Drexel Burnham Lambert Incorporated, where he served as Managing Director, head of Mergers & Acquisitions, and co- head of the Corporate Finance Department. Cultural / Philanthropic: Co-Chairman of the Museum of Modern Art Trustee of Mt. Sinai Hospital and The Asia Society Member of The Council on Foreign Relations, FasterCures, and the Port Authority Task Force Key Asks & Discussion Points Key ask: to be one of Mr. Black's top investment providers going forward and to get a share of his current lending wallet Mr. Black's wealth is currently highly concentrated between his stake in Apollo and has art, so he maintains a credit line for liquidity and investment. While Mr. Black remains focused on running Apollo, Brad Wechsler is building the family office to diversify into other investments and continue to build/- maintain wealth for future generations Expected investment focus will be real estate and private companies, with additional public investments in more liquid underlyings WM Background DB client since April 2014 Referred by Jeffrey Epstein, another top client and advisor to Mr. Black JP Morgan has been a primary WM provider historically. Mr. Black has relationships with heads of all major financial institutions Currently Mr. Black has a small brokerage account with DB - Current DB AUM: $174,480 Opportunities: Share of $500MM art loan currently held away $100MM+ in new public market investments Direct private market and real estate investments Trading/financing solutions for concentrated equity position in Apollo Appendix Date Recent & Upcoming Meetings 6/5/15 EFTA01419748 Laura Farischon, Paul Morris & Stew Oldfield discuss taking a piece of client's art facility 9/9/15 Laura Farischon, Paul Morris & Stew Oldfield met with Brad Wechsler to meet new Elysium COO and CFO and discuss art loan and onboarding issues more completely 9/11/15 Paul Morris & Stew Oldfield follow up to meeting with the Elysium team regarding reserve cash management and other Fixed Income strategies 1/7/16 Paul Morris and Stew Oldfield took Brad Wechsler and his wife to a Billy Joel concert as a social event 1/26/16 Paul Morris and Stewart Oldfield reached out to Brad Wechsler to introduce our ISG team and discuss liquid market investment capabilities 5/24/16 Stewart Oldfield speaks with Brad Wechsler to let him know that Paul Morris is no longer at DB Confidential Confidential Confidential EFTA01419749