From: Vahe Stepanian To: Jeffrey Epstein <[email protected]> Morris Stewart Oldfield , Richard Kahn , Ariane Dwyer , Paul CC: Daniel Sabba Subject: AAVL: (BN) Avalanche Drops as Gene Therapy Trial Miss High Expectation [C] Date: Tue, 16 Jun 2015 14:02:02 +0000 Inline-Images: image002.jpg Classification: Confidential Jeffrey — we are following up with the below news regarding AAVL. The stock is trading down $19.11 to $19.7657 per the Bloomberg screenshot below. Please let us know how you would like to proceed with your position. Thank you, Vahe AAVL US $ S I 19./6S/ 819.76 /19.86K 1 x 3 ii At 9:42 Vol 7 7S/ 4.1/ it 19.220 H 71 0011 I 19.22Q Val 55 .75224 , _ _ r ttlEitport rotir Price Table Iv1V1 HS [unity Avalanche Biotechnol Range market View lam_ Fr 06/19/15 7 r OS/29/15 37.28 333,267 i t 05/08/15 32.47 228,553 Th 06/18/15 ill 05/28/15 37.26 412,815 Ili 05/07/15 33.04 214,411 We 06/17/15 We 05/27/15 39.13 444,839 We 05/06/15 3339 460,598 Tu 06/16/15 19.75 2,696,176 'In 05/26/15 37.02 295,552 ru 05/05/15 29.44 236,054 bin 06/15/15 38.88 2,075,961 Flo 05/25/IS Flo 05/04/15 31.00 488,536 F r 06/12/15 41.40 481.003 Fr 05/22/15 38.03 204.109 Fr 05/01/15 33.17 267,282 Th 06/11/15 40.79 315,535 Tli 05/21/15 38.83 576,822 Th 04/30/15 31.86 336,730 WP 06/10/1S 39.73 358,955 We 05/20/15 39.05 381,443 We 04/29/15 35.04 249,917 Tu 06/09/15 37.03 378,175 ru 05/19/15 38.24 352,371 Tu 04/28/15 3632 309,973 Ito 06/08/15 37.70 340,492 no 05/18/15 36.67 373,114 lb 04/27/15 3536 510,565 I r 06/05/15 40.28 343,172 I i 05/15/15 35.10 326,323 I i 04/24/15 37.57 166,943 Th 06/04/15 38.82 244,332 lb 05/14/15 35.95 301,062 Th 04/23/15 38.49 161,093 We 06/03/15 37.51 391,270 We 05/13/15 35.65 234,306 We 04/22/15 38.93 246,169 Tu 06/02/15 37.52 256,238 I u 05/12/15 33.88 196,568 ru 04/21/15 3935 216,979 Ito 06/01/15 37.24 306.959 No 05/11/15 34.85 26