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How Did USA Inc.'s Financial Reality
document IMAGES-006-HOUSE_OVERSIGHT_020860.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

How Did USA Inc.'s Financial Reality Get to this Difficult Point? USA Inc. Has Not Adequately Funded Its Entitlement Programs Recessions come and go (and affect USA’s revenue), but future claims (related to entitlement program commitments) on USA Inc. now meaningfully exceed i...

www.kpcb.com USA Inc.| Summary 437
document IMAGES-006-HOUSE_OVERSIGHT_021060.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

www.kpcb.com USA Inc.| Summary 437 Highlights from F2010 USA Inc. Financials Summary — USA Inc. has challenges. Cash Flow — While recession depressed F2008-F2010 results, cash flow has been negative for 9 consecutive years ($4.8 trillion, cumulative), with no end to losses in...

Consequences of Inaction — Investor Perspective
document IMAGES-006-HOUSE_OVERSIGHT_021049.txt Jul 2, 2009 House Oversight Committee — Epstein Estate Records (Nov 2025)

Consequences of Inaction — Investor Perspective e Short Term, No Problem Yet Global bond investors, in part, have looked past USA Inc.’s deteriorating financials because growth, inflation, and Fed purchases matter more, and because income statements and balance sheets of many o...

molecular immunology at The Pasteur Institute and earned an M.D. and Ph.D. from the
document IMAGES-007-HOUSE_OVERSIGHT_024023.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

molecular immunology at The Pasteur Institute and earned an M.D. and Ph.D. from the University of Paris, and an M.B.A. from Columbia University. Jeani Delagardelle, (57), Managing Director, helped found New Leaf in 2005. She joined Sprout in 2000. At New Leaf, Jeani leads the Me...

Global Asset Allocation
document TEXT-001-HOUSE_OVERSIGHT_026572.txt Nov 9, 2012 House Oversight Committee — Epstein Estate Records (Nov 2025)

Global Asset Allocation 09 November 2012 The J.P. Morgan View Do US elections change anything? � Asset allocation –– The equity market has priced out the Romney win scenario, but from these levels, our economic and market outlook and risks are unchanged. These keep us medium-ter...

generally considered to be representative of U.S. stock market activity. The NASDAQ
document IMAGES-007-HOUSE_OVERSIGHT_024109.txt Mar 31, 2014 House Oversight Committee — Epstein Estate Records (Nov 2025)

QO iw} tH Les a generally considered to be representative of U.S. stock market activity. The NASDAQ Composite Index measures all NASDAQ domestic and non-U.S. based common stocks listed on the NASDAQ Stock Market. The NASDAQ Biotechnology Index includes securities of NASDAQ-l...

Investment Soeaian
document IMAGES-008-HOUSE_OVERSIGHT_025694.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Investment Soeaian Management Important Information Division Investment Strategy Group. The Investment Strategy Group (ISG) is part of the Investment Management Division of Goldman Sachs. The Investment Strategy Group (ISG) is focused on asset allocation strategy formation and...

Leadership: NLV_ are leaders in biopharmaceutical investing across all stages and transaction
document IMAGES-007-HOUSE_OVERSIGHT_024045.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Leadership: NLV_ are leaders in biopharmaceutical investing across all stages and transaction types The New Leaf team is well positioned to continue to play a leadership role in the sector. Over the last two decades, the Fund Managers have demonstrated an ability to access high...

Recourse to the Fund’s Assets
document IMAGES-007-HOUSE_OVERSIGHT_024079.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Recourse to the Fund’s Assets The Fund’s assets, including any investments made by the Fund and any funds held by the Fund, are available to satisfy all liabilities and other obligations of the Fund. If the Fund becomes subject to a liability, parties seeking to have the liabili...

NLV-III will be managed by the New Leaf team, which currently manages NLV-I, NLV-IL, and
document IMAGES-007-HOUSE_OVERSIGHT_024022.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Il. THE TEAM NLV-III will be managed by the New Leaf team, which currently manages NLV-I, NLV-IL, and provides sub-advisory services managing the remaining healthcare technology investments in the Sprout Funds. The team of six senior partners, five of whom have worked together c...

New Leaf Ventures III, L.P. (““NLV-II” or the “Fund”) is being formed by New Leaf Venture
document IMAGES-007-HOUSE_OVERSIGHT_024012.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

I. EXECUTIVE SUMMARY FUND OVERVIEW New Leaf Ventures III, L.P. (““NLV-II” or the “Fund”) is being formed by New Leaf Venture Partners, L.L.C. (“New Leaf” or the “Management Company”), an established and proven leader in health care technology investing. NLV-III will be the seve...

Growth of the US for both returns and protection
document IMAGES-009-HOUSE_OVERSIGHT_026696.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Growth of the US for both returns and protection The attractiveness of the US has been driven by interest rate rises (with expectations for further raises this year) and bond yields lagging in other developed markets (figure 8). There is also market confidence of a ‘pro-business’...

CEFOTAJ Business Proposal
document TEXT-001-HOUSE_OVERSIGHT_019448.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

 CEFOTAJ Business Proposal Jacmel, Haiti Table of Contents Executive Summary 3 Introduction 4 Background 4 Country Profile Background 5 General Geographical and Macroeconomic Situation 5 U.S. and Haiti Relationship 6 Haiti before th...

Transferability of Interests A Limited Partner may not sell, assign, or transfer any interest
document IMAGES-007-HOUSE_OVERSIGHT_024064.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Transferability of Interests A Limited Partner may not sell, assign, or transfer any interest and Withdrawal: in the Fund or withdraw from the Fund except under certain limited circumstances and with the prior written consent of the General Partner. Borrowings The Fund may borr...