28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation [Figure 38: APO Credit Sege lent Income Statement Forecast INCOME STATOISIT 2012 1013 2013 3013 6012E 20131 10149 2016E 3016E 40111 64.4 newest A6. ay 8 troneecta, fees 1/orn 41840es 276 218 220 233 419 1000 424 428 49.2 436 Illinagersot Ism from ittroies 299 7 44 4 934 870 089 4007 1385 1415 144 4 1459 Cants Memel (stied (mns 'hornet's*. 378 9.0 10.1 91 100 382 110 111 112 124 Idol mil banns rennue 3651 115.2 1124 119 4 1908 347 9 191.9 1954 1989 2019 Carnal Mono Orton*: Uweelze0 gun (bests) 3011 73.2 (558) 110 3) 135 5) 131 4) 1M.S/ (3191 (34 4) 1370, Rested cons 1799 51.5 102 1 106 667 325 20 .0 600 600 400 Wel carried ne(414 mcr 4410 124 7 433 94 5 31 2 2917 305 261 256 230 Tad Annie 11461 239.9 16511 211.9 242.0 201.6 222.4 2213 724.5 2240 Gene Corpensecn 4 Wells Ecuty4:osed Con, 270 69 7 9 50 275 50 7.0 60 60 Solpy. bows banns doll inert* usenet/ 1226 34.3 320 *7 807 1867 830 61.4 50.8 667 0valve:is/oft Amens supense 754 165 (1551 315 (14 21 21 3 01.6) (128) (1351 11481 Reare0 >o/1 shwas expense 001 22.0 393 34.6 267 1226 2.0 24 0 240 2310 Tom peo11 Owing (ace* 1555 305 23.8 69.3 125 144 1 122 112 102 92 itcenihre n544019 • 74441Corro Senells 305 3 79.3 629 114 9 512 315 3 83.2 796 769 839 Welnon-carp incomes 141 1 384 38.2 II 4 130 1310 38.7 4011 384 443 Told esenoes 4$1.4 II2.7 101.1 1493 1242 492.3 111.9 1353 114.5 1162 Other Mean* gots): Ore ocornolost WW1 toSt4M4) 150 45 40 153 77 31 5 80 44 60 97 Omer ScomAcot Inceneve tr.mnem) 02 25 26 53 27 28 30 33 16:4 ganelbssol Iran mister* emotes (I 1) 40 0.71 (7 11 (36) 02 41 11 8) 09 0.4 it Mccrre(1314) 044(140AYmIM001n** 99 481 69 64 67 018 268 71 75 7.8 86 Toll 04160 Income Ilossl 209