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Table 11: Amazon Estimate Summary
document IMAGES-003-HOUSE_OVERSIGHT_014902.txt Apr 6, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…basis, a higher AWS revenue contribution, an increasing advertising contribution, and record gross profit margins. ; ; BankofAmerica <2” 16 Internet/e-Commerce | 06 April 2017 Merrill Lynch HOUSE_OVERSIGHT_014902

Estimate vs Consensus
document IMAGES-003-HOUSE_OVERSIGHT_014899.txt Apr 4, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…asing comps and potential new ad format ramps (Google’s advertiser conference is May 23) could be positive 2H drivers. BankofAmerica <2 ; ; Merrill Lynch Internet/e-Commerce | 06 April2017 = 13 HOUSE_OVERSIGHT_014899

modified will not likely change the outlook. LM feels its strong positioning in global
document IMAGES-002-HOUSE_OVERSIGHT_014354.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…lients. A lower potential corporate tax rate would not likely benefit AB given its tax structure/low current tax rate. BankofAmerica <2” 40 2016 Future of Financials Conference | 17 November 2016 Merrill Lynch HOUSE_OVERSIGHT_014354

Table 1: Current cross asset trades
document IMAGES-002-HOUSE_OVERSIGHT_014433.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…B/ZAR (positive on oil, cautious on S African politics). ¢ Short EUR/SEK, strong Swedish growth, limiting room for Riksbank easing. Current trade recommendations 2 Global Cross Asset Strategy - Year Ahead | 30 November 2016 BankofAmerica <2” Merrill Lynch HOUSE_OVERSIGHT_014...

Table 17: Match estimate summary
document IMAGES-003-HOUSE_OVERSIGHT_014913.txt Apr 4, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…Street EBITDA margins 25% 35% 35% 37% Source: BofA Merrill Lynch Global Research estimates, Bloomberg, as of 4/4/2017 BankofAmerica <2 ; ; Merrill Lynch Internet/e-Commerce | 06 April2017 27 HOUSE_OVERSIGHT_014913

likely. Mr. Gray also thinks that concerns over the commercial real estate market
document IMAGES-002-HOUSE_OVERSIGHT_014356.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…t the time of the IPO, and that culture of innovation, growth, and investing for attractive returns is alive and well. BankofAmerica <2” 42 2016 Future of Financials Conference | 17 November 2016 Merrill Lynch HOUSE_OVERSIGHT_014356

¢ StubHub trends as StubHub GMV comps are tough in 1H’17 (32% y/y growth in
document IMAGES-003-HOUSE_OVERSIGHT_014904.txt Apr 4, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

… for retail investors, although GARP focused Internet investors may prefer stronger growth at Google or Priceline. ; ; BankofAmerica <2” 18 Internet/e-Commerce | 06 April 2017 Merrill Lynch HOUSE_OVERSIGHT_014904

Darren Indyke
email TEXT-001-HOUSE_OVERSIGHT_026607.txt Nov 7, 2014 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: Sent: To: Subject: Darren Indyke 11/8/2014 1:20:15 AM Jeffrey Epstein [[email protected]] Fwd: Breaking News: Obama to Nominate Loretta Lynch as U.S. Attorney General Importance: High Sent from my iPhone Begin forwarded message: From: NYTimes.com News Alert <nytdirect@n...

from large domestic pension funds and the recovery in the price of copper explain the
document IMAGES-003-HOUSE_OVERSIGHT_014771.txt Nov 16, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…expect the currency to weaken further in 1Q17 as interest rates move higher in the US, and we do not expect the central bank to intervene, as it would likely be the case in Peru. In order to reduce the carry cost of the funding currency without losing the neutral exposure to meta...

Volatility in Europe
document IMAGES-003-HOUSE_OVERSIGHT_014980.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Volatility in Europe Buy EU banks dispersion: (+) basket call, (-) worst-of calls Trade: Long Dec17 105% call on an equally weighted basket of SAN, BNP, ING, ISP & DBK*, short Dec17 ATM worst-of call on the same basket for 1.8% indic. (correl bid: 81%). * We pick the top 5 stoc...

Donald J. Trump 9 of 42
document IMAGES-004-HOUSE_OVERSIGHT_016707.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…TRUMP MARKS ISTANBUL II LLC NIA [342 None (or less than $1,001) royalties $100,001 - $1,000,000 Value reported reflects bank account holding only. 350 None (or less than $1,001) $5,007 - $15,000 Additional Underlying Asset: license deal with ORTADOGU $1,001 - $15,000 royalties...