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play a critical role in enabling the necessary structural changes to the healthcare system. The
document IMAGES-007-HOUSE_OVERSIGHT_024019.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

play a critical role in enabling the necessary structural changes to the healthcare system. The HITECH Act created a $25.9 billion!? Federal Government funded catalyst for the adoption of information technology in healthcare in the U.S., and this is stimulating significant invest...

due to adverse political, economic or other developments. These risks are magnified for investments
document IMAGES-004-HOUSE_OVERSIGHT_016803.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

due to adverse political, economic or other developments. These risks are magnified for investments made in emerging markets. Investments in a certain industry or sector may pose additional risk due to lack of diversification and sector concentration. There are special risks asso...

Trump’s effect on MXN
document TEXT-001-HOUSE_OVERSIGHT_010609.txt Sep 22, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Liquid Insight Trump’s effect on MXN 22 September 2016 Unauthorized redistribution of this report is prohibited. This report is intended for [email protected] Key takeaways • We provide an empirical analysis of Donald Trump's potential effects on the Mexican peso • Our analysi...

Gather, Visualize, Analyze Public Opinion to make Intelligent Decisions
document TEXT-001-HOUSE_OVERSIGHT_028815.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

CONFIDENTIAL InsightsPod Gather, Visualize, Analyze Public Opinion to make Intelligent Decisions Business P' - Prepared September 2016 Contact Information Zubair Khan www.insightspod.com HOUSE OVERSIGHT 028815 InsightsPod Table of Contents Executive Summary..........................

We use an equal weighted, three-factor valuation framework (P/E, P/TBV, DCF) to arrive
document IMAGES-002-HOUSE_OVERSIGHT_014387.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

We use an equal weighted, three-factor valuation framework (P/E, P/TBV, DCF) to arrive at our PO of $14. We assigned a 1.2x multiple to 2Q17E TBV and a 12x multiple on 2017E EPS, with lower PTBV/PE multiple than peers assigned due to the higher perceived risk of their lending mod...

Important Disclosures
document IMAGES-007-HOUSE_OVERSIGHT_023094.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Disclosures Important Disclosures BofA Merrill Lynch Research Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from investmen...

Japan Macro Watch
document TEXT-001-HOUSE_OVERSIGHT_014424.txt Nov 14, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Japan Macro Watch USD/JPY: Buy-on-dip cycle to continue; 115- 120 by end-2017 14 November 2016 Buy-on-dip cycle continues While we had acknowledged the risk of the “final JPY strength” this autumn on the BoJ's limit and US elections, it has been our view that the USD/JPY’s dips...

line with the rest of the world on this issue. Similarly, the accelerated depreciation of
document IMAGES-007-HOUSE_OVERSIGHT_023084.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

line with the rest of the world on this issue. Similarly, the accelerated depreciation of machinery & equipment would become irrelevant due to the move toward taxation based on business cash flow and the immediate write-off of capital expenditures. Once the depreciation from lega...

UMB Financial Corp, Wells Fargo, Zions
document IMAGES-002-HOUSE_OVERSIGHT_014394.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

UMB Financial Corp, Wells Fargo, Zions. BofA Merrill Lynch Research Personnel (including the analyst(s) responsible for this report) receive compensation based upon, among other factors, the overall profitability of Bank of America Corporation, including profits derived from inv...

Sprout Capital VIL, L.P. (Healthcare Technology Portfolio)
document IMAGES-007-HOUSE_OVERSIGHT_024104.txt Mar 31, 2014 House Oversight Committee — Epstein Estate Records (Nov 2025)

Sprout Capital VIL, L.P. (Healthcare Technology Portfolio) $ amounts in millions, as of March 31, 2014 Please refer to Endnotes 1,],K,L,M and N in this Appendix. Gross Multiple Gross Vintage Total Realized Unrealize Total (Realized Multiple Company Year Cost Value d Value Valu...

GrubHub (Buy, $49 PO)
document IMAGES-003-HOUSE_OVERSIGHT_014910.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

GrubHub (Buy, $49 PO) Stock view: Marketing ramp should drive diner growth re-acceleration In recent quarters, GrubHub has been leveraging a series of recent investments, including expanded delivery, more restaurants on the platform, repositioned brand driving more effective ad...

Technology + Infrastructure + Education Investments
document IMAGES-006-HOUSE_OVERSIGHT_021025.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Technology + Infrastructure + Education Investments Drove ~90% of Labor Productivity Growth for Past ~30 Years Sources of USA Average Labor Productivity Growth, 1977-2000 = Technology Investment i Infrastructure & Other Investment 1 Education (Labor Quality) 1 Other (Total...

required to contribute the same percentage of its Commitment
document IMAGES-007-HOUSE_OVERSIGHT_024058.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

required to contribute the same percentage of its Commitment as each of the other Limited Partners had been required to contribute prior to such closing plus an additional amount, calculated like interest at the prime rate plus 2% per annum, compounded quarterly, on the amount of...