SUMMARY OF CASH FLOW - BLACK FAMILY BAL 2014 AND FY 2015 LW HOLDINGS LDB 2011 LLC LDB 2014 LLC TOTAL LOB BFP APO 1 APO 2 GRATS 45,223,359 INFLOWS APO - (NET DISTRIBUTION FROM BFP LP) 11/21/2014 $ 0.73 8,494,141 4,851,894 67,683,532 16,689,090 64,902,015 52,285,847 38,941,209 38,941,209 38,941,209 9,114,138 12/15/2014 $ 0.18 2/28/2015 $ 0.70 4/14/2015 $ 0.30 5/7/2015 $ 0.42 16,689,090 8,145,066 6,561 764 4,887,040 4,652,501 3,748,111 2,791,501 TRA $24.S+TRUE UP 0.28 EST 9,377,091 4,183,762 5,541,987 42,727,357 37,792,211 25,720,682 8/7/2015 $ 0.42 EST 11/7/2015 $ 0.42 EST 5,876,749 4,426,992 4,887.040 4,887.040 2,791,501 25,385,919 2,791,501 26,835,676 SUB-TOTAL 38,520,720 16,689,090 37,862,090 21,627,008 203,685,204 318,384,111 GRAT ANNUITIES 12/3/2014 29,566,366 (29,566,366) 1/24/2015 15,656,993 (15.656,993) 3/3/2015 31,897,623 (31,897,623) 4/24/2015 19,554,299 (19.554,299) 6/3/2014 50,716,511 (50.716,511) 7/24/2015 4.071,816 (4.071,816) 9/3/2014 24,074,890 (24,074,890)- 10/24/2015 1,311,030 (1.311,030) 12/3/2015 26,835,676 (26.835,676) 203,685,204 (203085,204) 228,000 HERITAGE FY 2014 228,000 INFLOWS-INVESTMENTS TIMBER 16,000,000 16,000,000 ART SALE 1,840,000 1,840,000 WARREN ST 4,000,000 4,000,000 DIVIDENDS 482,906 579,158 1,062,064 QUADRANGLE DISTRIB 1,381,087 1,381,087 APO 1 INTEREST INTER-FAMILY 17,325,267 17,325,267 TOTAL INFLOWS 244,045,924 33,399,995 17,904,425 43,243,177 21,627,008 360,220,529 OUTFLOWS - INVESTMENT FCI CAPITAL CALL (10,000,000). (10,000,000) COF III CONINVEST III CAPITAL CALL (5,736,524) (5,736,524) ATHENE CAPITAL CALL (40,000,000) (40,000,000) SEARCHUGHT CAPITAL CALL (450,000) (450,000) TENFORE CAPITAL CALL (500,000) (500,000) PHAIDON/ PUBLISHING ARTSPACE (2,550,000) (2,550,000) PHAIDON PRESS (716,400) (5,308,680) (6,025,080) REGAN ARTS (799,252) (4,256,869) (5,056,122) OUTFLOWS -PERS