Draft 7/24/14 $ amounts are as of different dates and may not reconcile; holdings are out of date; trusts whose trustees include only Black family members are excluded from this presentation Trustees Entities Holdings Beneficiartes r BC r 1988 Trusts B J AV 1992Trusts B J AV .4ell assets decanted 201; Black 2011 Family Trust B J A V LDB 2011 LLC LDB 2011 LLC • 6.6 % of BFP ($97.2MM) • Art at Cost ($47MM) • Cash @JPM ($17.2MM) • Stocks @ JPM (SSMM) • Investment P'ships:15.1MM 0 AP Tech. Partners o AP SHL Investors o Apollo REIF o AREIF III Transfer o BHM Investors o M-Clift Partners o Microbes Investors o Remainderman o AREIF Colnv IV o Viroproto Investors o Apollo Eci Colnv o Apollo Investment • Note receivable from 1997 Trust • Note payable to BS ($7.8MM) • Note payable to JS ($10.7MM) Total Value: S181MM • Separate trust for each child with mandatory income to the child after age 25 and dis retion to distribute principal to the child at any time. , Black 006 Family Trust all assets decanted 2013i, APO1 Trust LBF 7 .1% Black Family Partners LB 1997 Black Family Trust decanting In progressi APO2 Trust 4.3°,. I l0. %i APO1 Trust • 73.4% interest in BFP through LBF ($1.07B) • Art ($58MM at cost) • $16.5MM at US Trust • Apollo Investment Corp interest ($6.7MM) • Apollo Credit Opportunities Fund ($152MM) • Note receivable from 2009 Judah Trust ($13.5MM) • Note payable to BFP ($33MM) Total Value: $1.36 • Single trust f/b/o all descendants with dis- cretion to distribute income and principal. Trustees have discretion to create separate trusts for descendants. Black Family 1997 GST Exempt Trust APO2 Trust • 4.3% of BFP ($63.2MM) • Art ($202MM at cost) • Marketable securities ($23.6MM) • Private equity ($8.4MM) • 101 Warren Street apartment ($3MM) • Cash/stocks @JPM ($2.5MM) • Note payable to LDB ($23MM) Black Family 1997 GST Exempt Trust • $3MM cash at US Trust JH Judah