Message From: Casriel, Lyle i) Sent: 7/16/2014 10:51:58 PM To: G Maxwell i) cc: Klein, Matthew i |; Ramdeen, Vijai i); Shkreli, Juliana (a); Stackman, Scott | iE); Waldron, Chelsey Devon Del Subject: RE: MAXWELL: Revised Proposal Attachments: Maxwell Holdings Report.pdf; Maxwell GL Report.pdf Ghislaine, Attached is the updated holding report as mentioned in the trail below. | have also included a realized gain loss report. There is a modest realized gain of 11.7k looks like it would be long term treatment. Let us know if you need anything else for now. Best, Lyle From: Casriel, Lyle Sent: Tuesday, July 15, 2014 5:13 PM To: 'G Maxwell’ Cc: Klein, Matthew; Ramdeen, Vijai (i); Shkreli, Juiana GN); Stackman, Scott; Waldron, Chelsey Devon Subject: RE: MAXWELL: Revised Proposal The available report is attached here. We will send the other tomorrow. From: G Maxwell [mailto as Sent: Tuesday, July 15, 2014 5:09 PM To: Casriel, Lyle Subject: Re: MAXWELL: Revised Proposal You can send me all today and the report without tomorrow. Thank you FACEBOOK <https://www.facebook.com/TerraMarProject> - TWITTER <http://twitter.com/terramarproject> - G+ <https://plus.google.com/104195649525707945586/posts> - PINTEREST <http://pinterest.com/terramarproject/> - INSTAGRAM <http://instagram.com/p/PhLoQKAVEq/> - PLEDGE <http://theterramarproject.org/#citizenship> - THE DAILY CATCH <http://theterramarproject.org/thedailycatch/> On Jul 15, 2014, at 17:07, " a < > wrote: The report | pull today is as of yesterday and will include what we just sold. | am attaching that here. If you want to see it with today's executions removed we can send that to you in the AM. From: G Maxwell (ait Sent: Tuesday, July 15, 2014 5: CONFIDENTIAL UBSTERRAMARO0000519 EFTA00236223

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To: G Maxwell; Casriel, Lyle Subject: Re: MAXWELL: Revised Proposal Can you send me a list of the stocks ! have left Thx FACEBOOK <https://www.facebook.com/TerraMarProject> - TWITTER <http://twitter.com/terramarproject> - G+ <https://plus.google.com/104195649525707945586/posts> - PINTEREST <http://pinterest.com/terramarproject/> - INSTAGRAM <http://instagram.com/p/PhLoQKAVEq/> - PLEDGE <http://theterramarproject.org/#citizenship> - THE DAILY CATCH <http://theterramarproject.org/thedailycatch/ From: G Maxwell Sent: Tuesday, 15 July 2014 16:56 To: Subject: Re: MAXWELL: Revised Proposal Thank you FACEBOOK <https://www.facebook.com/TerraMarProject> - TWITTER <http://twitter.com/terramarproject> - G+ <https://plus.google.com/104195649525707945586/posts> - PINTEREST <http://pinterest.com/terramarproject/> - INSTAGRAM <http://instagram.com/p/PhLoQKAVEq/> - PLEDGE <http://theterramarproject.org/#citizenship> - THE DAILY CATCH <http://theterramarproject.org/thedailycatch/> On Jul 15, 2014, at 16:52, " s < TT > wrote: Ghislaine, We executed as instructed and kept Twitter and BHP. Proceeds raised are approximately 716k. We will move the cash to your cash account upon settlement. Thank you, Lyle From: G Maxwell [mai Sent: Tuesday, July 15, 2014 12:01 PM To: Casriel, Lyle Cc: EE, Klein, Matthew; Ramdeen, Vijai; Shkreli, Juliana; Stackman, Scott; Waldron, Chelsey Devon Subject: Re: MAXWELL: Revised Proposal This looks like a plan..lets execute Lets keep twitter and BHP and BHP we can always Sell later in the year for the loss if needed.. Best G THE TERRAMAR PROJECT FACEBOOK TWITTER G+ PINTEREST INSTAGRAM CONFIDENTIAL UBSTERRAMARO0000520 EFTA00236224

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PLEDGE THE DAILY CATCH From: * a * < a > Date: Friday, July 11, 2014 at 16:11 PM To: grax <r > = Ss <>, ES < >, Scott Stack an <i >, "a * <a > Subject: RE: MAXWELL: Revised Proposal Let us know if you want to connect on this. From: Casriel, Lyle Sent: Thursday, July 10, 2014 5:09 PM To: 'G Maxwell’ Cc: Garcia, Camille; Klein, Matthew; Ramdeen, Vijai; Shkreli, Juliana; Stackman, Scott; Waldron, Chelsey Devon Subject: MAXWELL: Revised Proposal Ghislaine, Based on our discussion and your need to raise some cash these are the names we would recommend selling, as well as our rationale. 1. Conocophillips: Did well in a strong oil price environmentbut only growing at 3-4% per year vs. peers in the J space growing at 8%. They have a FCF deficit so if we get a pull back on oil they will have issues and thus pull back on capex spending because they are so focused on dividend as large shareholder base depends on it. Take profits now, high conviction sell. 2. Verizon — Has done relatively well recently on a total return basis (YTD), but there is a secular shift in the wireless business and margins are coming down and the stock isn't that cheap. Take profits, high conviction sell. 3. Illinois Too! Works — Relatively expensive and while it's been a great growth story we think the growth story will be decelerating from here and the stock trades at a 3x higher multiple than usual. Less high conviction, but still a sell here. In order to not have any tax impact we would need to sell the majority of your positions that currently have a loss. They are below. Note BHP, Apache and Lukoil are the only names below that UBS still rates as a Buy/Overweight. That said, if oil prices are toppish here then both Apache and Lukoil (despite the Russian discount) may be challenged moving forward. Given the unrealized losses in them, it's driving our decision to help you raise as much cash as possible without significant tax consequence. Twitter Staples Target Geron Apache BNP Kirin HSBC . BOCHK 10. Tesco 11. BHP PRENDNSEwWne CONFIDENTIAL UBSTERRAMARO0000521 EFTA00236225

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12. Lukoil 13. Alstom Total Proceeds Raised from sales (approx.): $821K Total Gains from sales (approx.): $70K Total Losses from sales (approx): $71K Net loss: $1K (All of the above pricing subject to market variability) Thanks, Lyle & Scott UBS Financial Services, Inc., its affiliates and its employees do not provide tax or legal advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with UBS Financial Services, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Attorneys in the UBS Financial Services Attorney Network are independent and unaffiliated with UBS Financial Services Inc. This material is not intended or written to be used, and cannot be used or relied upon, by any taxpayer for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any transaction or tax-related matter(s). 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. <Maxwell Holdings.pdf> 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 UBSTERRAMAR0O0000522 EFTA00236226