From: "Harry Beller" To: "Rich Kahn" , "Jeanne Brennan" •,:) > Subject: Fwd: King Street Capital L.P. - VA State Withholding - Action Required Date: Tue, 11 Mar 2014 02:21:30 +0000 Attachments: VA_State_Withholding_Letter 2013.pdf; Untitled_attachment_00096.htm; Virginia_Withholding_Opt-out_Election.pdf; Untitled_attachment_00099.htm I think you should ask A Dlugash on this one also Harry Begin forwarded message: From: K1 Date: March 10, 2014 11:04:23 AM EDT To: Undisclosed recipients:; Subject: King Street Capital L.P. - VA State Withholding - Action Required To the King Street Capital, L.P. Limited Partners: In 2013, a King Street Capital, L.P. "side pocket" investment generated Virginia state source income. As a result, King Street Capital, L.P. is required to withhold Virginia income tax at the rate of 5% on each non-resident partner's share of Virginia source income unless an eligible partner elects to Opt-out of Virginia withholding. In addition, non-resident partners are required to file a Virginia income tax return reporting the allocated income and withholding. Eligible partners for the Opt-out election include: 1) A pass-through entity. 2) A Real Estate Investment Trust (REIT), except Captive REITs. 3) An Individual who is exempt from paying Federal income taxes or Virginia income taxes. 4) A Corporation or other entity that is exempt from Virginia income tax. If you meet the above requirements and choose to Opt-out of withholding, please complete and execute the attached document, Virginia Withholding Opt-Out Election. Note the information provided on the Virginia Withholding Opt-Out Election will be included with the Form 502, Virginia Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax, filed by King Street Capital, L.P. Please note that King Street Capital, L.P. is not eligible to file a Virginia composite return on your behalf. The Opt-out election must be c-mailed to March 28, 2014. Failure