Family Offices: An Overview of the New Dodd-Frank Exemption Panel Discussion Moderated by Thomas McGraw (IP. Morgan Private Bank) With Participants Miles Padgett (Kozusko Harris Duncan) Leor Landa (Davis Polk & Wardwell LLP) Jeffrey Schwartz (Davis Polk & Wardwell LLP) John Duncan (Kozusko Harris Duncan) January 10, 2012 Although information contained herein has been obtained from sources believed to be reliable. the views expressed are those of the speakers and may differ from the views of J.P. Morgan and its affiliates. Neither J.P. Morgan nor any of its affiliates guarantee its accuracy or completeness and accept no liability for any direct or consequential bsses arising from its use. J.P. Morgan's role is limited to moderating this panel discussion. by providing speakers who are well versed on this topic. Similady. although the speakers have collaborated in preparing ponions of the information contained herein. they may also have views that differ trom those expressed in a particular portion. are not guaranteeing the accuracy or completeness of the information contained herein and accept no liability for any direct or consequential losses arising from its use. EFTA01126601