EFTA00817110.txt

"From: Jeffrey E. To: Melanie Spinella Date: Mon, 26 Sep 2016 13:36:00 +0000 Attachments: LDB_Tax_Retrn_Process.xlsx do you understand 4 or 5 . ? more "

"MEMORANDUM TO: Leon Black (Email & Fed Ex) FROM: Brad Wechsler DATE: September 26, 2016 Jeffrey Epstein Tax Summary and Status"

"LDB_Tax_Retrn_Process.xlsx. Forwarded message from Brad Wechsler. Jeffrey Epstein Tax Summary and Status addressed to Leon Black."

"It is the property of JEE"

"In 2015, we paid in approximately $12MM of taxes to the federal government"

"lower Apollo finalized income as provided by Apollo ($3MM)"

"how the Phaidon transaction plays in... NYS taxes would have been $4MM higher had we not done Phaidon."

"In my recent conversations with Jeffrey he has raised the issue"

"now useable passive losses from Regan Arts, Artspace and Avionetta ($5MM)"

"In my recent conversations with Jeffrey he has raised the issue of how the optics of the 1040 (negative taxable income) might or might not impact the "