2016 Purchases Owner Artist Title Purchase Date Purchase Price (including sales/use tax) CHRISTIE'S 2017 appraised value Unrealized Gain/Loss Unrealized Gain Unrealized Loss AP Narrows SARTO. ANDREA DEL Etude de tete d'homme (redo); Etude d'oeil (verso) 12/18/2016 4.500,000 4,200.000 (300.000) 0 (300.000) AP Narrows REDON. ODILON Captive Pegasus 12/15/2016 145,000 80.000 (65.000) 0 (65.000) 2011 LLC & Narrows CEZANNE. PAUL Bouteilles, Pots. Rechaud a Alcoa. Pommes (90% owned by 2011 LLC. 10% owned by Narrows) 11/23/2016 54.000,000 40,000.000 (14,000.000) 0 (14,000.000) AP Narrows CEZANNE. PAUL Portrait de Vallier de Prof if 11/23/2016 30.450,000 35,000.000 4,550.000 4.550,000 0 AP Narrows KELLY, ELLSWORTH Doorway Shadow, Spencertown 11/22(2016 17,000 17.500 500 500 0 AP Narrows KELLY, ELLSWORTH Hanger Doorway, St. Barthelemy 11/22(2016 17,000 17.500 500 500 0 AP Narrows KELLY, ELLSWORTH Stairway. St. Martin 11/22(2016 17,000 17.500 500 500 0 AP Narrows KELLY, ELLSWORTH Broken Window. Paris 11/2212016 17,000 17.500 500 500 0 AP Narrows KELLY, ELLSWORTH Movie Screen. Waterbury 11/2212016 17,000 17.500 500 500 0 AP Narrows KELLY, ELLSWORTH Wall. Majorca 11/22(2016 17,000 17.500 500 500 0 AP Narrows KELLY, ELLSWORTH Balcony. Belle-Ile-en-Mer 11/22/2016 17,000 18.000 1.000 1,000 0 AP Narrows BRANCUSI. CONSTANTIN Atelier 11/18/2016 260,000 236.000 (24.000) 0 (24.000) AP Narrows REMBRANDT HARMENSZ. VAN RIJN Self-Portrait in a Fur Cap 11/15/2016 60,000 60.000 0 0 0 AP Narrows REMBRANDT HARMENSZ. VAN RIJN Self-Portrait in a Heavy Fur Cap 11/15/2016 50,000 50.000 0 0 0 AP Narrows REMBRANDT HARMENSZ. VAN RIJN Self-Portrait in a Soft Cap 11/15/2016 40,000 40.000 0 0 0 AP Narrows REMBRANDT HARMENSZ. VAN RIJN Self-Portrait drawing at a Window 11/15/2016 395,000 400.000 5.000 5.000 0 EFTA00792629