Ghislaine Maxwell Sho UBS Wieesemen Investment Proposal February-14 Prepared by Stackman | Casriel Group UBS Financial Services Scott Stackman Lyle Casriel Matthew Klein, CFA tor en Managing C Private W Priv. CONFIDENTIAL UBSTERRAMARO0000197 EFTA00235926

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Ghislaine Maxwell Asset Allocation Summary Current FIXED INCOME 2% CASH & EQUIVALENTS B% 3% UBS See: February-14 Proposed LIQUID ALTERNATIVE INVESTMENTS 18% FIXED INCOME wT% CASH & EQUIVALENTS 16% EQUITY 34% EQuITY 2% Current UBS* Proposi Current Proposed Reallocation (%) (%) Amount Amount EQUITY US Equity 19.3% 17.8% $ 2,702,536 $ 2,500,000 $ (202,536) International Equity 14.5% 10.7% $ 2,032,507 $ 1,500,000 $ (532,507) Subtotal 33.8% 34.5% 28.5% $ 4,735,043 $ 4,000,000 $ (735,043) FIXED INCOME Municipal Fixed Income 1.5% 12.2% $ 215,376 $ 1,715,376 $ 1,500,000 Taxable US Fixed Income 20.8% 21.8% $ 2,921,863 $ 3,056,821 $ 134,958 International Fixed income 0.7% 3.6% $ 94,939 $ 500,000 $ 405,061 Fixed Income Subtotal 23.1% 37.6% $ 3,232,178 $ 5,272,197 $ 2,040,019 ALTERNATIVE INVESTMENTS Mutual Fund Liquid Alternatives 0.2% 17,8% $ 31,576 $ 2,500,000 $ 2,468,424 Private Equity / Private Real Estate 0.0% 0.0% $ - $ $ - Commodities / Hard Assets 0.2% 0.0% $ 22,062 $ $ (22,062) Alternative Investments Subtotal 0.4% 17.8% $ 53,638 $ 2,500,000 $ 2,446,362 CASH & EQUIVALENTS Cash, Money Markets, and Cash Alternatives 42.8% 16.0% $ 5,997,302 $ 2,245,964 $ (3,751,338) Cash/Cash jvalents Subtotal 42.8% 16.0% $ 5,997,302 $ 2,245,964 $ (3,751,338) TOTAL 100% 100% $ 14,018,161 $ 14,018,161 Se AUBS PWM PAG February 2014 Moderate with Alternatives This report provides a summary of the investments in the account's) listed above with their approximate values, subject to the qualifications below, for informational purposes only and should not be relied upon as the basis of an investment or liquidation decision. These accounts, which may have differing ownership, are grouped together at the instruction and consent of the affected owners. Any owner wishing to withdraw that corsent should advise us immediately. All information presented is subject to change at any time, is provided only as of the date indicated, and has been rounded for convenience. UBS Financial Services Inc. accounts statements and official tax documents are the only official record of your UBS Financial Services account’s) and are not replaced, amended, or superseded by any of the information presented in these reports. Values for investments held in your UBS Financial Services accountis) are taken from the account statement for the designated date. UBS Financial Services Inc. does not provide tax or legal advice. You should consult with your attorney or tax advisor regarding your personal circumstances. Past performance is no guarantee of future returns. CONFIDENTIAL UBSTERRAMAR0O0000198 EFTA00235927

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CONFIDENTIAL Ghislaine Maxwell Asset Allocation Worksheet Fetrunry-14 EQuITY US Equity JM Focused d Groweh (94a) AASEBSOO4 nabactual Equities as2167006 Clearbneige Equty inc AD yage3s008 Sie Dividend Growth Fund | vaoeaso0s Nummen Global ofratruct - | vaoess008 Fornolse MEP \vasens00s Vactman Focused Fund (VAFFX UBS Wedgewood Lage Cap Growth (SMA) uss Panam Equity Spectrum PYSan) uss So0,000 AEX SMD ups 590,000 US Equity Subtotal International Equity JPA int’) High Drvachernc (SMA) vage20008 European Fo \v49805008 Onadend vaeeasoos Fund (OIAX UBS Wentworth Hauser Intemational UBS Thamteny internation! Growth uss interna tional Equity Subtotal Subtotal FIXED INCOME Municipal Fixed Income rich BATS 52167006 RSW Managed Municipal Bonds UBS Munvcipal Fired incoave Subtotal Taxable US Fixed Income JPM Short Duration RAO 18563009 $ $ $ Qs2167006 $ $ $ Q52167006 s $s $ vaees008 $ 3 5 Vvaeeasoos $ $ $ \VASE3008 $ $ $ ‘\V49805008 s 3 $ Merbor High Views ‘VaeeRs008 $ $ $ Harbor Canventie vaseasoos $ $ $ PM Nhu) Sector vaseas008 $ $ $ Rickgeworth Seer \V49805008, s $ s TAP inst Fasting Rate \vaseasoos $ $ $ Blackrock High Yield Bond \vaS6R50068 $ $ $ ‘\v49036000 $ 3 $ ‘\vaeeaeo00 s $ s Peudental! Absol.te Return Bond \v4eea68000 $ $ $ (94.66 Exton Vance Floating Rave vagegs000 $ 3 $ (50, FM Mutt Sector income ‘\véee08000 $ $ $ (9, FBC BeBay Absotute Aetum Bond \vaseaeooD $ $ $ Prefered 62167006 s 5 $ Cokumbna Comerts ‘\V49805008 s 3 $ Doubietne Tota! Return ‘vaeeae00D $ $ $ Doutietine Total Rerum ‘vaseaso0s $ $ $ 1 JPM Stranegi: income 49235006 $ $ $ PM Stratege come ‘vaoes000 $ $ $ 563,402 Bischrock Strategic income uss $ $ $ 750,000 Symphony Crecit Opportunities ups $ $ $ 0,000 AngeiOak Muti Strategy Income UBS $ $ $ — son.on0 Third Avenue J Credit Fund UBS 3 $ $ Taxable US fared income Subtotal International Fixed Income NSBC Emerging Markee \vaseaso0s 00% § $ HSBC Emerging Market vaseae000 0% $ $ Templeton Global Band UBS 3.6% $ $ International Fixed income Subtotal x 30% 30% SR] Fined income Subtotal 23.1% 37.5% 37.6% 178 ALTERNATIVE INVESTMENTS Mutual Fund Uquid Alternatives Now Derectional John Hancock Global Absokite Return uss $ $ Buckstone Atenatve Alpha Fund uss $ $ Non Dwectional Subtota! Directional Gateway LS Equity ‘\VaSsas00s $ $ $ Mackerel’ uss $ $ $ Btuckrock Global LIS Equity UBS $ $ 500, $ Directional Subtotal $ $ 10000 $ Liquid Altema tives Subtotal 146 e Private Equity / Private Real Estate OO%. 2.0% 2d 3 od Private Equity / Private Real Estate Subtotal Co%. 120%. OO : * Commodities / Hard Assets @p CS52167006 o0% $ 3 Commodities / Mard Assets Subtotal Ome 20 0. by 22fB2 by Alternative investments Subtotal 04% 280% 17.8 s $3638 $2,500,000 CASH & EQUIVALENTS. cash QS2167006 199% s $ Cash 2916490721 223% $ $ = 2,161,081 “ash vaeeus008 13% $ s 36993 “ash \vaeeus000 nae 3% $ BY iene “Tite 00% on Ta “UBS PWIM PAG February 2014 Moderate with Alternatives This report provides a summary of the ewestments in the accounts) Isted above with thelr approximate values, subject to the qualifications below. for informational purposes only and should not be ried upon as the basis of an investment or kquidation decaion. These accounts, which may have differing ownership, are Grouped together at the instruction and consent of the affected owners Any owner wishing to withdraw thet consent should advise us immediately. AB information presented & subject to change at any time, 's provided only as of the date indicated, and has been rounded for convenience. UBS Financial Services Inc. accounts statements and official tax docurments are the only official record of your UBS Financial Services account(s) and are not replaced, amended, or superseded by any of The infornation presented in these reports. Values for investments held in your LIBS Financial Services accouritis) ave lwken from The account statement for the designated ciate. UBS Financial Services Inc. dbes not provide tax or legal advice. You should consult with your attorney or tax adwsor reqaeding your personal Grouretances. Past performance no quarantee of futlate retums. UBSTERRAMAR0O0000199 EFTA00235928

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Ghislaine Maxwell oho UBS Wirnsenen CONFIDENTIAL Hypothetical Portfolio Analytics February-14 Current Allocation Proposed Allocation Taxable Fixed international International Income Fixed Income Fixed Income 1% 4% k 1 ATER Taxable Fixed - Liquid Aernatve Income 1% 18% Municipal Fixed Income 2% International Cash & Equity Couveserte 14% Municipal Fixed Cashé Income Equivalents 12% 16% I US Equity ies US Equity 10% 11% 16% Forward-Looking Data (Next 10 Years) Forward-Looking Data (Next 10 Years) Estimated Risk 6.48% Estimated Risk 6.85% Estimated Return 452% Estimated Return 4.99% Expected Sharpe Ratio 0.3 Estimated Sharpe Ratio 0.4 Historical Data (Previous 10 Years) Historical Data (Previous 10 Years) Annualized Risk 5.90% Annualized Risk 6.36% Annualized Return 434% Annualized Return 5.47% Historical Sharpe Ratio 0.5 Historical Sharpe Ratio 0.6 Best Rolling Year 21.77% Best Rolling Year 24.64% Worst Rolling Year -19.90% Worst Rolling Year -18.74% Benchmark Data (Previous 10 Years) S&P 500 6.80% RISK FREE RATE (10-Year Treasury Bill) 2.67% BC AGGREGATE 4.60% GLOBAL HEDGE FUND INDEX (HFRXGL) 0.88% Previous 10 year data based on period from: 13 1/2004-1/31/2014 The information provided to you is for informational purposes only and it should not be regarded as an offer to sell or as a solicitation of an offer to buy any securities The asset classes and asset allocation shown are illustrative and may reflect your current allocation, one of the UBS Strategic Allocation Models or a customized asset allocation model. Results shown are hypothetical, are provided for illustrative purposes only and do not include the impact of transaction costs, taxes and inflation. If included, the results shown would be lower. The results are based on UBS simulation over the specified time horizon. Actual results may vary depending on the specific composition of the investor's portfolio. Actual results may also vary depending on when the portfolio is implemented and may be affected by changing market conditions. Past performance or historic results provide no quarantee of future returns. Forward-looking estimated results and probabilistic analysis should not be construed as a guarantee and are provided for illustrative purposes only. UBSTERRAMARO0000200 EFTA00235929

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CONFIDENTIAL Disclaimers Sh UBS Seaver: This analysis has been provided to you by UBS AG and/or affiliates ("UBS"), for informational purposes only and should not be used in substitution for the exercise of independent judgement. This material contains data derived as a result of back-testing of data and is provided by UBS in good faith using its standard methodology for information of this kind. That methodology relies on proprietary models, empirical data, assumptions and such other information that we believe to be accurate and reasonable. The current data that UBS selected for preparation of this material may be substantially different if the date is selected from a different time period and this may have substantial impact on the back-testing results. This information is provided to you for information purpose only and we make no representation as to the accuracy, completeness or appropriateness of such methodology and accept no liability for your use of the information. 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