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Global equity markets - Key points
document IMAGES-008-HOUSE_OVERSIGHT_025260.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… America Cc wn > EMU Q UK 2 @ Switzerland Sweden Australia | Hong Kong | iS} 4 o I < Japan Singapore | = Global—EM = Bnew old Note: Preference in hedged terms (excl. currencies) underweight neutral overweight Consumer Discretionary = Consumer Staples al Energy | Financials | H...

Chris Anderson’s company, 3DR, helped start the modern drone industry and now
document IMAGES-004-HOUSE_OVERSIGHT_016906.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Chris Anderson’s company, 3DR, helped start the modern drone industry and now focuses on drone data software. He got his start building an open-source aerial robotics community called DIY Drones, and undertook some ill-advised early experiments, such as buzzing Lawrence Berkeley...

certain factors beyond the control of the portfolio company and the General Partner. The
document IMAGES-007-HOUSE_OVERSIGHT_024073.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…be restricted from the disposition of such securities. Lack of Operating History The Fund and the General Partner are newly formed entities, and, accordingly have no operating history or investments upon which investors can evaluate the potential performance of the Fund. The pr...

Chart 8: Google ex-FX Y/Y growth trends
document IMAGES-003-HOUSE_OVERSIGHT_014898.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Chart 8: Google ex-FX Y/Y growth trends 30% 25% 24%p9y% 24% 22% 20% 15% 10% 5% 0% 2Q17E 3Q17E 4Q17E @ Total Google Revenue Y/Y (ex-FX) m= Google Website Y/Y (ex-FX) Source: Company reports, BofA Merrill Lynch Global Research For core margins, we assume y/y contraction thro...

to Temporary Investments, “PIPES” and other purchases of
document IMAGES-007-HOUSE_OVERSIGHT_024059.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

to Temporary Investments, “PIPES” and other purchases of securities in private placements that are not traded on a Public Securities Market at the time of such investment, “toe-hold” investments (e.g. investments that are intended to lead to a potential private or larger investme...

interest tax shield later in this report). Deleveraging balance sheets may also be spurred
document IMAGES-007-HOUSE_OVERSIGHT_023078.txt Jan 17, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

interest tax shield later in this report). Deleveraging balance sheets may also be spurred by a continued environmwnt of rising interest. Leverage for S&P non-Financials has steadily been ticking up over the last few years, and, if we exclude the cash-rich Technology sector, lev...

outside the Fund, by requiring some or all of the Limited
document IMAGES-007-HOUSE_OVERSIGHT_024065.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

outside the Fund, by requiring some or all of the Limited Partners to make such investment through a limited liability entity that will invest on a parallel basis with, or in lieu of, the Fund, as the case may be. Successor Fund: Without the prior written consent of the Advisory...

Willamette University College of Law in 1986 and her B.S. in Finance-Law, magna cum laude, from
document IMAGES-008-HOUSE_OVERSIGHT_024587.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Willamette University College of Law in 1986 and her B.S. in Finance-Law, magna cum laude, from Portland State University in #983. Dan Frechtling, Senior Vice President, Marketing and Business Development Mr. Frechtling was named Senior Vice President, Marketing and Business De...

EBITDA, Adjusted EBITDA and Adjusted EBITDAR have limitations as analytical tools, and you should
document IMAGES-007-HOUSE_OVERSIGHT_024449.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

EBITDA, Adjusted EBITDA and Adjusted EBITDAR have limitations as analytical tools, and you should not consider them in isolation, or as a substitute for analysis of our results as reported under GAAP. Some of these limitations are: @ they do not reflect our cash expenditures for...

Chris Anderson’s company, 3DR, helped start the modern drone industry and now
document IMAGES-003-HOUSE_OVERSIGHT_016323.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Chris Anderson’s company, 3DR, helped start the modern drone industry and now focuses on drone data software. He got his start building an open-source aerial robotics community called DIY Drones, and undertook some ill-advised early experiments, such as buzzing Lawrence Berkeley...

The following summary historical pro forma and projected financial data should be read in conjunctio
document IMAGES-007-HOUSE_OVERSIGHT_024475.txt Jan 1, 2004 House Oversight Committee — Epstein Estate Records (Nov 2025)

5. SUMMARY FINANCIAL DATA The following summary historical pro forma and projected financial data should be read in conjunction with the financial statements and “Management's Discussion and Analysis of KLC’s Pro Forma Results of Operations” presented elsewhere in this Memorandu...