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Overweight US Energy Infrastructure Master
document IMAGES-003-HOUSE_OVERSIGHT_014558.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Overweight US Energy Infrastructure Master Limited Partnerships (MLPs): We initiated a direct allocation to energy MLPs in late January 2016 and have maintained that tilt. Given our assumptions about oil prices, we believe that the cash distributions from MLPs are generally secur...

Care needs to be taken with military kit, but America’s regulations still seem excessive. A regular
document IMAGES-010-HOUSE_OVERSIGHT_028509.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Care needs to be taken with military kit, but America’s regulations still seem excessive. A regular review to distinguish between systems that pose a real threat and ones that don’t would be a help, as would better intelligence. Tight restrictions on new technologies will not wor...

Morgan Stanley | RESEARCH
document IMAGES-008-HOUSE_OVERSIGHT_025568.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Morgan Stanley | RESEARCH NORTH AMERICA INSIGHT ~~ Deconstructing Our Implied Carry Valuation: What Is the Market Paying? We deconstruct the various pieces of a SOTP for the alts in order to determine our best guess on how much the market is valuing future performance fees. We...

From: jeffrey E. [[email protected]]
email IMAGES-012-HOUSE_OVERSIGHT_033041.txt Sep 20, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: jeffrey E. [[email protected]] Sent: 9/20/2017 10:34:58 PM To: Anas Alrasheed Subject: Re: Importance: — High your watch turned out to be a truly great investment :) On Wed, Sep 20, 2017 at 6:26 PM, <anasalrasheed[ii—> wrote: thnx jeff ..im prayingpiabid Sent from...

Morgan Stanley | RESEARCH
document IMAGES-008-HOUSE_OVERSIGHT_025554.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…fferent approaches for valuing this sticky earnings stream: 1) traditional asset man- ager comps vs. organic growth, 2) publicly traded C-corp Alts comps, and 3) an approach looking at FRE as bond yield proxy with a credit spread, to determinate an appropriate cap rate. In-Line...

Tejpreet Singh Chopra
document IMAGES-004-HOUSE_OVERSIGHT_017068.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…tal University of Oxford National Institutes of Health DuPont YCAB (Yayasan Cinta Anak Bangsa) Foundation People's Republic of China United Kingdom Republic of Korea Republic of Korea Republic of Korea India France India Denmark Hong Kong SAR USA Russian Federation Republ...

The combination of these factors suggest Japanese equities have further to run. We also
document IMAGES-002-HOUSE_OVERSIGHT_014448.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

The combination of these factors suggest Japanese equities have further to run. We also see the position as being complementary to our EM position since whereas a stronger USD is a drag on EM performance, it is beneficial for the NKY position. Chart 31: Japan equities have outpe...

Source Entry: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2018-09-03111
document TEXT-001-HOUSE_OVERSIGHT_025734.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Source Entry: H\Macintosh HD\root\Users\jee\Library\Messages\Archive\2018-09-03111 on 2018-08-25 at 07.31.18.ichat Service: iMessage Start Time: 08/25/18 04:31:18 AM (556889478) End Time: 09/03/18 02:34:55 PM (557703295) Last Message ID: 19748 Chat Room: Participants: jee, Presen...

{mobile apps, premium nanny, date night payment services etc.) may not see much
document IMAGES-003-HOUSE_OVERSIGHT_014940.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

{mobile apps, premium nanny, date night payment services etc.) may not see much traction, 4) lower conversion rates on mobile, 5) mobile conversions with 30% fee to Apple and Google Play marketplaces could negatively impact margins, and 6) international expansion may not be succe...

e Mary’s Whole Pet. Whole plant CBD remedies for pets, sold in retailers and
document IMAGES-008-HOUSE_OVERSIGHT_024878.txt Feb 25, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

COWEN COLLABORATIVE INSIGHTS 62 February 25, 2019 e Mary’s Whole Pet. Whole plant CBD remedies for pets, sold in retailers and online in the U.S. and international markets. Mary’s is a high-end brand, focused on clean delivery methods through its transdermal patches, topical...

From: jeffrey E. [[email protected]]
email IMAGES-012-HOUSE_OVERSIGHT_033097.txt Jul 13, 2018 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: jeffrey E. [[email protected]] Sent: 7/13/2018 11:11:16 AM To: Paul Barrett iS ; Richard Kahn Importance: — High Im not angry , sorry, itis sad. it is apparent that you have no experience trading. we both made a mistake. . the spy trades were the results of a rank am...

Already, a policy debate is raging. Backers are urging people to reserve judgment and say
document IMAGES-003-HOUSE_OVERSIGHT_016414.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Already, a policy debate is raging. Backers are urging people to reserve judgment and say the tax breaks have galvanized cities, businesses and investors to think creatively about boosting parts of the country most in need. Critics say the incentives were poorly calibrated and ma...

(a department of the China International Publishing Group) saw its cooperative
document IMAGES-006-HOUSE_OVERSIGHT_020551.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…that the Communist Party had employed before the revolution—using friendly foreigners and pro-PRC Chinese immigrants to publicize China’s story. Chinese officials called this tactic of localizing the work of foreign propaganda, the “borrowed boat” strategy.” One such friendly A...

Adjustments to EBITDA
document IMAGES-008-HOUSE_OVERSIGHT_024529.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

KLC OpCo 2005PF 2006P 2007P 2008P 2009P 2010P 2011P EBITDA $86.6 $146.3 $167.8 $188.1 $217.8 $257.1 $296.8 Adjustments to EBITDA Restructuring Charge Addback' $29.4 $6.3 $0.0 $0.0 $0.0 $0.0 $0.0 (Gains) / Losses on Sales* (4,3) 0.0 0.0 0.0 0.0 0.0 0.0 Dividend Income® (0.5) 0.0...