Message From: Scott Borgerson (i) Sent: 6/13/2018 5:34:52 PM To: ce: E eC‘ ( Subject: Re: SB/GM - 2nd Quarter Estimated Taxes Attachments: Angara Tax Summary 6.12.18.pdf; disclaim. txt Thanks Lyle. Lindsay, you should have what you need to run the estimate. Sent from iCloud On Jun 13, 2018, at 01:29 PM, (Em wrote: Scott, I'm not sure you have access to this report on your side, but | am at my desk and was able to quickly run this for you now. We can run this as needed. Note UBS disclaims this report is not intended to replace or mirror the final 1099s, however, we do share this to help ascertain estimate information. Best, Lyle Lyle Casriel Senior Vice President — Investments Private Wealth Advisor | Portfolio Manager UBS Private Wealth Management i. From: Scott Borgerson [mailt {a com] Sent: Wednesday, June 13, 2018 1:26 PM To: Casriel, Lyle; Lindsay J. Annello Cc: Ghislaine Maxwell; Laura K. Barooshian Subject: Re: SB/GM - 2nd Quarter Estimated Taxes Hi Lyle, Please see below from Angara's accountant. I couldn't see where to run a YTD capital gain/loss for Angara when logging into ubs.com. CONFIDENTIAL UBSTERRAMARO0003733 EFTA00091671

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Is this an easy thing for you to run? Or, is there a way for me to do through the website each quarter so I don't need to bother you? Lindsay, Angara is now mostly in cash/treasuries, and so the $300k gain from last year will not be the same this year (that closed out some old positions), so my guess is the number will be lower. We'll wait to hear from Lyle at UBS. Thanks, sgb Sent from iCloud On Jun 13, 2018, at 11:47 AM, "Lindsay J. Annello" <LAnnello@dgccpa.com> wrote: Hi Scott, We are working through the 2™ Quarter estimated taxes calculation which is coming due on Friday, June 15". Are you able to run a report for the Angara Trust's UBS accounts through 5/31/18 to determine what the year-to-date income and gains/losses have been so far? I've already reached out to Jeff at Nutter to obtain this information, but he informed me that you have the online account access. If this is something that you are not easily able to do, would you be willing to authorize the UBS team to send us duplicate statements or provide Accountant online access to the trust accounts going forward? If we are unable to determine the year to date information, | can finalize the calculation assuming all 2018 income is similar to the 2017 income with the exception of the $300k gain that was reported through the Angara Trust. Please let me know if you are comfortable with this method. Thank you, Lindsay LINDSAY J. ANNELLO, CPA, MSA Manager ia DICICCO, GULMAN & COMPANY LLP 150 Presidential Way, Suite 510 Woburn, MA 01801 O: 781-937-5724 F: 781-937-5100 dgccpa.com CONFIDENTIAL UBSTERRAMAR00003734 EFTA00091672

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rm “ Legal Disclaimer: The information contained in this electronic message is legally privileged and confidential under applicable law, and is intended only for the use of the individual or entity named above. If the recipient of this message is not the above-named intended recipient, you are hereby notified that any diesemination, copy or dlecioeure of thie communication is strictly prohibited. Please note that our systems have content filtering software. If you have received this communication in error, please notify the receptionist at DiCicco, Guiman & Company LLP, (781) 937-5300, and purge the communication immediately without making any copy or distribution. We hereby inform you that this communication and any attachments hereto are not intended or written by DiCicco Gulman & Company LLP to be used and should not be used by any person for the purpose of avoiding any federal, state or local tax penalties. CONFIDENTIAL UBSTERRAMAR00003735 EFTA00091673

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From: Scot 6orgers0n ET 7) Sent: 3/6/2019 4:54:43 PM 7; TS To: ce Lindsay J. Annello [} |; : Dea eC Subject: [External] Re: Angara Trust / Montpelier Trust 1099s Thanks Lyle and team. Scott On Mar 5, 2019, at 15:09, Em wrote: Adding my team, we will come back to you to help you reconcile. Lyle Casriel Senior Vice President — Investments Private Wealth Advisor | Portfolio Manager UBS Private Wealth Management From: Lindsay J. Annello [mail Sent: Tuesday, March 05, 2019 1:44 PM To: Casriel, Lyle Ce: Scott Borgerson Subject: [External] Angara Trust / Montpelier Trust 1099s Hi Lyle, We are in the process of gathering information for the tax filings for the Angara Trust and the Montpelier Trust. To date, we've received 1099s for the following accounts held in the Angara Trust: Were 1099s issued for the following accounts ending {EB and [IB which we had received in prior years? Also, were any 1099s issued for the Montpelier Trust in 2018? Thank you in advance for your assistance with this. Best, Lindsay LINDSAY J. ANNELLO, CPA, MSA Manager in CONFIDENTIAL UBSTERRAMAR00004243 EFTA00091675

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DICICCO, GULMAN & COMPANY LLP 150 Presidential Way, Suite 510 Woburn, MA 01801 oO: F: 781-937-5100 dgccpa.com Legal Disclaimer: The information contained in this electronic message is legally privileged and confidertial under applicable law, and is intended only for the use of the individual or entity named above. MW the reciplert of this message ie not the above-named intended recipient, you are hereby notified that any dissemination, copy or disclosure of this communication is strictly prohibited. Please note that our systems have content filtering software. If you have received this communication in error, please rotity the reception et Diciooo. Gulman & Company LLP, (781) 937-5300, and purge the communication immediately without making any copy or distribution. We hereby inform you that this communication and any attachments hereto are not intended or written by DiCicco Gulman & Company LLP to be used and should not be used by any person for the purpose of avoiding any federal, state or local tax penalties. Please visit our website at http://financialservicesinc.ubs.com/wealth/E-maildisclaimer.html for important disclosures and information about our e-mail policies. For your protection, please do not transmit orders or instructions by e-mail or include account numbers, Social Security numbers, credit card numbers, passwords, or other personal information. CONFIDENTIAL UBSTERRAMAR00004244 EFTA00091676

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Ghislaine Maxwell Boston , MA 02114-3252 March 12, 2019 Scott Stackman / Lyle Casriel UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38th Floor New York, NY 10019 RE: Internal Transfer to Montpelier Trust Dear Scott/Lyle: Please accept this letter as authorization to complete a $500,000 transfer from my UBS account, Yxxx575 to the Montpelier Trust, UBS account, Yxxx170. Sincerely, x Ghislaine Maxwell CONFIDENTIAL UBSTERRAMAR00004256 EFTA00091677

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Ghislaine Maxwell Boston , MA 02114-3252 March 12, 2019 Scott Stackman / Lyle Casriel UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38th Floor New York, NY 10019 RE: Internal Transfer to Montpelier Trust Dear Scott/Lyle: Please accept this letter as authorization to complete a $500,000 transfer from my UBS account, Yxxx575 to the Montpelier Trust, UBS account, Yxxx170. Sincerely, EFTA00091678

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” Message From: G Max Sent: 3/13/2019 6:59:21 PM To: cc: ; , Subject: [External] Re: MAXWELL: Transfer to Montpelier Trust Attachments: UBS.pdf Hi -attached is the singed document Iam in NY tomorrow (Thursday) and am hoping I can drop off an additional check for TerraMar that I received? It would be around 10 am if that would work? thx From: Eyanna Rivas <> Date: Tuesday, March 12, 2019 at 9:41 AM To: > Ce: Juliana Shkreli <i om>, Vijai Ramdecn >, com" <i as com> Subject: MAXWELL: Transfer to Montpelier Trust Hi Ghislaine, Per our conversation, please sign the attached letter of authorization to initiate the $500,000 transfer from your main UBS account to the Montpelier Trust main UBS account. Please sign where indicated and return to us via email (PDF) to process the transfer. Please let us know if you have any questions. Thank you! Ely UBS Elyanna Rivas Client Service Associate UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38” Floor New York, NY 10019 CONFIDENTIAL UBSTERRAMARO0004257 EFTA00091679

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8270000! OOUVWYeYsLSENn WILNAGISNOO Ghislaine Maxwell Boston , MA-02114-3252 March 12, 2019 Scott Stackman / Lyle Casriel UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38th Floor New York, NY 10019 RE: . Internal Transfer to Montpelier Trust Dear Scott/Lyle: Please accept this letter as authorization to complete a $500,000 transfer from my UBS account, Yxxx575 to the Montpelier Trust, UBS account, Yxxx170. Sincerely, EFTA00091680

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Message From: Scott Borgerson (i) Sent: 6/27/2019 8:14:25 PM To: Po ce: TS Subject: [External] Re: MONTPELIER: Wire Transfer Hi Juliana, I see the $240k wire on this end into Citizens already. Thank you. Standing by on the other wiring instructions. Would be ideal if you could send today. Tks, sgb On Jun 27, 2019, at 15:12, I, wrote: Hi Scott, As discussed, the $240,000.00 wire transfer to the TIDEWOOD, LLC account at Citizens Bank is complete. (FED # We are preparing the wiring instructions you discussed with Lyle and will send them over once ready. As a reminder, the wires to Montpelier Trust account (should be sent in USD. Thank you! Juliana Juliana Shkreli Associate Director Senior Wealth Strategy Associate UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38” Floor New York, NY 10019 Phon QE 2 (ex: 855-217-9863 a www.ubs.com/privatewealthmanagement Please visit our website at http://financialservicesinc.ubs.com/wealth/E-maildisclaimer.html for important disclosures and information about our e-mail policies. For your protection, please do not transmit orders or instructions by e-mail or include account numbers, Social Security numbers, credit card numbers, passwords, or other personal information. CONFIDENTIAL UBSTERRAMAR00004388 EFTA00091681

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Message From: Scott Borgerson (i } Sent: 7/3/2019 12:54:17 PM To: a cc: Jeffery Robert: ]; Christine Maxwe! }; m; m; Im; GMAX m] Subject: [External] Re: MONTPELIER TR: Quarterly Distribution Received. Thank you. On Jul 1, 2019, at 14:05, i wrote: Hi Scott, As discussed, the quarterly distribution in the amount of $52,580.63 has been wired to the Scott Borgerson account at USAA Federal Savings Bank. FO Thank you! Ely <image001.png> Elyanna Rivas Client Service Associate UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38" Floor New York, NY 10019 Please visit our website at http://financialservicesinc.ubs.com/wealth/E-maildisclaimer.html for important disclosures and information about our e-mail policies. For your protection, please do not transmit orders or instructions by e-mail or include account numbers, Social Security numbers, credit card numbers, passwords, or other personal information. CONFIDENTIAL UBSTERRAMAR00004395 EFTA00091682

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Message From: Scott Borgerson (i) Sent: 9/13/2018 12:43:53 AM To: ; : ce: Jeffery Roberts [jroberts@nutter.com]; GMAX [A } Subject: trust renaming Hi Scott and Lyle, There was a renaming of the Angara Trust, which required the creation of a new EIN for tax purposes. Is there a good time when I could give you a call over the next couple of days or early next week to give you the EIN over the phone? Angara's assets will need to be moved over to this new entity, otherwise everything else stays the same. This isn't time urgent and so no rush, just a paperwork drill. Thank you, Scott Sent from iCloud ~-_bd4969c5-0c64-401a-8 1cd-aaafl7elddel_-- CONFIDENTIAL UBSTERRAMAR00003813 EFTA00091683

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Message From: Casriel, Lyle ,t~‘SS Sent: 10/12/2018 1:16:18 AM To: "Scott Borgerson’ [sborgerson@me.com]; GM ce: Stackman, Scott [scott.stackman@ubs.com]; Klein, Matthew ; Tomkiewicz, Jessica SS 1-1 2r02°2, sea Subject: Volatile Markets Attachments: A bull market resetting, not an ending.pdf Scott/Ghislaine, We are reaching out to let you know we are monitoring data and comments from a variety of sources on the dramatic sell off in equities. We have attached our CIO's responses and commentary here. Below are the basic take-aways: . The movement in interest rates is certainly getting most of the attention for the correction. There is a strong case for this argument as bonds become more attractive relative to stocks as well as the fact that the cost of capital for market participants increases as interest rates increase. . Tariffs can't be ignored and may be a contributor to the current weakness if prices rise as a result. . Growth equities, FANG stocks and technology in particular were hit the hardest (the Russell Growth Index and Nasdaq fell around 4%) — These are the companies which have led the market higher this year. Before the recent correction growth stocks were up around 17% while value stocks were up under 4%. Growth equity valuations in many cases got stretched, and this is more of a normal mean reversion in those valuations. . Value and yield oriented stocks didn’t fall as much. MLPs as an example were down 2% yesterday, but are still up on for October. . The S&P 500 recently broached the year 2000 data point where technology firms represent over 25% of the value of the index. This has made the S&P 500 more sensitive to the draw down in tech stocks. . The media is also focused on Trump comments directed at the Federal Reserve. The Fed is supposed to be an apolitical body, there may have been some reaction later in the day to Trump's comments, as its not typical to see a President take shots at the Fed. It's always hard to tell exactly what cause and effect are until time has passed and information becomes more perfect, however we do think the impact of interest rates is ultimately the blame. We saw something very similar occur in Q1 of 2015, also at a time that the yield curve was steeping and after a period of strong performance in growth/technology stocks. Late cycle investing tends to persist with an upward trend and more volatility which we have discussed in the past. The UBS CIO view of continued strong earnings power as a result of tax reform and continue economic growth should be enough to keep the cycle going, as such UBS believes we will end the year higher in equities. In the short term, there are a lot of technical issues that take over in the market, given yesterday's dramatic fall it would not be unusual to see another couple of days of selling, but we do not believe there is a reason to make changes to long- term portfolios. As always, please let us know if you have any question or would like to connect. Best, Lyle & Scott CONFIDENTIAL UBSTERRAMAR00003823 EFTA00091684

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Message From: Scott Borgerson |) Sent: 6/27/2019 8:14:25 PM To: ee ce: " : ; aS, ; Subject: [External] Re: MONTPELIER: Wire Transfer Hi Juliana, I see the $240k wire on this end into Citizens already. Thank you. Standing by on the other wiring instructions. Would be ideal if you could send today. Tks, sgb On Jun 27, 2019, at 15:12, I wrote: Hi Scott, As discussed, the $240,000.00 wire transfer to the TIDEWOOD, LLC account at Citizens Bank is complete. (FED # We are preparing the wiring instructions you discussed with Lyle and will send them over once ready. As a reminder, the wires to Montpelier Trust account ({EED) should be sent in USD. Thank you! Juliana Juliana Shkreli Associate Director Senior Wealth Strategy Associate UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38" Floor New York, NY 10019 Phone: IP Fax: 855-217-9863 www.ubs.com/privatewealthmanagement Please visit our website at http://financialservicesinc.ubs.com/wealth/E-maildisclaimer.html for important disclosures and information about our e-mail policies. For your protection, please do not transmit orders or instructions by e-mail or include account numbers, Social Security numbers, credit card numbers, passwords, or other personal information. CONFIDENTIAL UBSTERRAMAR00004388 EFTA00091685

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Message fom: Case, ye Sent: 7/25/2019 5:09:16 PM To: ‘Max (IE); Stockman, Scott ; im; Subject: RE: [External] Re: ; a : Hi, Apologies for my delay. We don't see anything yet but of course will confirm upon receipt. My understanding is we can only look for incoming funds if you have a reference number, please Tet us know if you have that. Best, Lyle Lyle casriel Senior Vice President — Investments Private Wealth Advisor | Portfolio Manager UBS Private Wealth Management jom oo--- Original Message----- From: 6 Max (oa co on) Sent: wednesday, July 24, 2019 12:54 PM To: Casriel, Lyle; Stackman, Scott Subject: [External] Re: Thank you Also the funds 500,000 pounds (not sure what the amount is when converted to dollars) should be in bound from my personal Barclays account in the UK- perhaps you can verify and let me know it is in bound and confirm when it is in the account so I can move the to its new home once it has arrived along with all my other accounts identified to be moved again thank you for your help on 7/24/19, 9:40 aM, "(on (om wrote: Hi, We are checking on this. Lyle Casrie) Senior Vice President - Investments Private Wealth Advisor | Portfolio Manager UBS _ Priv Wealth Management ali. wore Original Message-----~ From: G Max (oat |) Sent: wednesday, July 24, 338 AM To: Stackman, Scott; Casriel, Lyle Subject: [External] Question. I am in the process of shutting TerraMar. Can that account remain till it is closed which will be in the next few months? It is a 501c3 and not opened by me and not in ny name? I will have answers for all my personal funds by the end of the week. Please let me know. Thx Please visit our website at CONFIDENTIAL UBSTERRAMAR00004462 EFTA00091686

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http: //financialservicesinc.ubs.com/wealth/E-maildisclaimer.htm] for important disclosures and information about our e-mail policies. For your protection, please do not transmit orders or instructions by e-mail or include account numbers, Social Security numbers, credit card numbers, passwords, or other personal information. CONFIDENTIAL UBSTERRAMAR00004463 EFTA00091687

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Message From: Rivas, Elyann (a) Sent: 7/31/2019 2:48:02 PM To: ‘6 Max' a) ce: Ramdeen, Vijai (iE); Walker, Christopher (Dm); Traskus, Michelle (SN 1; Seackrnan, Scot: MN |; casrel, ie | , Spellman, Heather (Em); Campbell, Randy m] Subject: RE: MAXWELL: RE: Transfer Hi Ghislaine, Confirming we received a $304,930.00 wire from your account at Barclays. The funds have been deposited into your main UBS account. Thank you! Ely ee UBS Elyanna Rivas Client Service Associate UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38" Floor New York, NY 10019 Phone: EEN Fax: 855-217-9863 a Sent: Friday, July 26, 2019 2:06 PM To: 'G Max’ Cc: Shkreli, Juliana; Ramdeen, Vijai; Walker, Christopher; Traskus, Michelle; Stackman, Scott; Casriel, Lyle; Speliman, Heather; Campbell, Randy Subject: RE: MAXWELL: RE: Transfer Hi Ghislaine, As discussed, the $150,000.00 wire to the Cohen and Gresser LLP Attorney Escrow Account at JP Morgan is completed. FeO + Thank you! Ely Elyanna Rivas Client Service Associate UBS Financial Services Inc. CONFIDENTIAL UBSTERRAMAR00004480 EFTA00091688

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Message From: Rivas, Elyanna (i) Sent: 7/26/2019 3:37:49 PM To: ‘6 Max’ (7) ); Walker, Christopher ce: Shkreli, Julian Ramdeen, Vijai [ [ }; Traskus, Michelle [ ]; Stackman, Scott [ Subject: RE: MAXWELL: RE: Transfer Hi Ghislaine, Confirming the $308,105.00 wire has been deposited into your main UBS account. Thank you! Ely Elyanna Rivas Client Service Associate UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38th Floor New Yor 3 Phone: 8 Fax: 855-217-9863 om oo--- Original Message----- From: Rivas, Elyanna Sent: Friday, July 26, 2019 11:02 AM To: 'G Max’ |; Casriel, Lyle (NE; Speliman, Heather (| Campbell, Randy [ m) im); Cc: Shkreli, Juliana; Ramdeen, Vijai; Walker, Christopher; Traskus, Michelle; Stackman, Scott; Casriel, Lyle; Spellman, Heather; Campbell, Randy Subject: MAXWELL: RE: Transfer Hi Ghislaine, Confirming we see a $308,105.00 wire from your account at Barclays coming through in our system. We will confirm once the funds have been posted to your main UBS account. Thank you! Ely Elyanna Rivas Client Service Associate UBS Financial Services Inc. Private Wealth Management 1285 Avenue of the Americas, 38th Floor New Yor ry : 8 Fax: 855-217-9863 om core Original Message----~ From: G Max (nat co con Sent: Friday, July 26, 233 AM To: Casriel, Lyle; Rivas, Elyanna Subject: [External] Transfer CONFIDENTIAL UBSTERRAMAR00004468 EFTA00091689

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Morning. Can you please see the bellow to track the money in bound from london and confirm that you see it Thank you >> The bank normally use the Field 20 reference to search the payment. >> >> Please find below the copy of the outwards MT103 as requested. >> >> {1:F21BUKBGB22xXxx0031051013}{4: {177:1907241722}{451:0}{108 :1972417220009G00}} >> {1:FO1BUKBGB22AXxx0001000001} {2 : 1103BARCUS33XXXXN}{3:{108: 1972417220009G00}{119: STP} {121: 2a3b287c- 2e27-4161-af67-f7895661b4bf}} {4: >> :20:PET207935205 >> :23B:CRED >> :32A:190726USD308125 ,00 >> :33B:GBP250000,00 >> :36:1,2325000 >> 150K: /*#*#t eee eww emNgsgg >> MISS GHISLAINE MAXWELL > >> 252A: BUKBGB220X >> :538:/280386181 >> :57A://FWO26007993 >> UBSWUS33 >> >> :59:/101258641000 >> UBS FINANCIAL SERVICES INC. >> >> :70:FOR FURTHER CREDIT CLIENT NAME: GHI >> SLAINE MAXWELL FOR FURTHER CREDIT >> ACCOUNT NUMBER: Y123575 >> :71A: CONFIDENTIAL UBSTERRAMAR00004469 EFTA00091690