TRUSTS 2014 LD8 U.0 UN REAUZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) UNREAUZED GAIN (LOSS) CUMULATIVE GROSS UNREALIZED GAIN (LOSS) INCREMENTAL (PLEDGED) GIFT. NAME OF OWNERS DONEE HIP % INSTITUTION NARROWS MANET, EDOUARD Portrait de Bertha Morisot 25,226.302 15,000,000 15 OCO.000 (10,226.302) (10,226.302) 100% NARROWS SMITH, DAVID Cubi II 25,770.000 22,000,000 22 000.000 (3,770.000) (13,996.302) 100% NARROWS PICASSO. PABLO Tete dbomme 9.103.500 7,000.000 7.000.000 (2,103.500) (16,099.802) 100% NARROWS ROTHKO. MARK Black. White. Blue 5,429.315 3,500,000 3.500,000 (1,929,315). 118,029,117) 100% NARROWS DAVE. JACCILIES-LOUI5Les amours de Paris et Helene 4,928.028 3,500.000 3.500,000 (1,428.028) (19,457.145) 100% NARROWS STRAET, JAN VEN DER. Disegni Rappresentanli it Purgatorio Di Dante Alight 1,525.000 175.000 175,000 (1,350,000). (20,807.145) 100% NARROWS KIPPENBERGER. MARTIUntilied (from the series The Raft of the Medusa) T 3,819.135 2,500.000 2,500,000 (1,319,135). (22,126.280) 100% MoMA NARROWS PICASSO, PABLO Tete moustachue 8,165,625 7,000,000 7,000,000 (1,165,625). (23,291,905) 100% NARROWS CIE GOYA. FRANCISCO Gil Held by a Cord . 13,146.222 12,000.000 12,000,000 (1,146.222) (24,438127) 100% NARROWS REMBRANDT VAN RIJN Christ Crucified Between Two Thieves (The Three C 2,384250 1,400.000 1,400,000 (984.250) (25,422377) 100% NARROWS KELLY, ELLSWORTH Diagonal with Curve XVI 1,665.788 ' 700.000 700,000 (965.788) (26,388.164) 100% NARROWS NOGUCHI. ISAMU Personnage Ill (Ningen 3) 2,147.500 1,200.000 1,200,000 (947,500) (27,335.664) 100% NARROWS DE TOULOUSE-LAUTRE Au bal de ropera 10,968.634 10,125.000 10,125,000 (843.634) (28,179.298) 100% NARROWS • KIEFER. ANSELM Isis on the Way 1,625.625 800.000 800,