EFTA01452645.pdf

28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation [Figure 39: APO Real Estate Segment Income Statement Forecast ØMS ST,. TEN2Ni 2012 1013 2013 3013 4.2132 2013E 10148 2/314E 30146 401 30143 2015E 2016 Pee rotoras: Actatory &Irani-action fenIran altirs 07 11 13 10 34 10 10 10 10 41 43 45 1,33226mintIs from 61124S 463 136 132 134 133 535 129 129 130 128 516 506 424 Øh6 2110int 830260 Sine Itoinattiotes 10 20 30 60 30 3.0 Toni 'runt Ousress revenue • 470 147 14$ 114 143 66.9 139 ISO ISO 169 6t7 601 4.9 Corned Wend Income: unmated gam (bnes) 104 06 (6 4) 3.3 62 2.7 90 68 3.7 66 35 1 33.7 6.3 Roland gara 47 03 02 05 67 67 67 67 267 267 40.0 TOW aulta ~tat 3COM, 15 09 (6 2) 33 52 r 3.2 156 155 154 152 617 603 4.3 Total Ronno• 621 16.6 33 14.7 134 660 236 305 31.3 32.1 123.5 118.5 96.2 E63/.c Carom:14ton 11 benolts arAy-based cony 10 7 25 22 31 30 10.6 30 30 30 30 120 100 WO Saint tone & tootles 233 67 67 89 106 329 76 82 90 91 343 307 24.9 Pica 63239 a.pente unrtaind prole shorn; wens* 67 03 (4 5) 11 21 93.3) 36 35 35 34 140 135 19.9 ~WM prolaborrp «pinto 75 05 06 05 IB 27 27 27 27 ID 7 107 Tesal picit shortie topers* • 142 0.6 (39) 2.3 21 r 1.3 33 62 6.1 6.1 247 24.1 19.9 TKNfYafa Coop TOlalConpt Binges ▪ 402 100 50 ¶43 156 449 167 174 161 157 710 616 54.9 Total non.ccop ~es 242 7.3 60 7.1 7.3 27.7 74 73 72 73 29.2 295 29.2 Total 1261•63•11 724 17.1 110 214 229 720 242 24.7 254 KO 100.2 IAA 34.1 Other Loma* (bro). Geer ncorrets 005681244.14) 13 1.1 03 0.8 06 P. 3.0 08 09 09 01 36 37 39 nconase (IvAnIk• 341310.1) 524 garoAosseci rorm rwesalent *Cairo ware (tes) from coup method reetsbreota 10 (0.1) 03 0.8 0.8 2.3 08 09 09 01 36 37 39 Todl Other Income (1330) 23 1.0 1.1 1.0 1.6 63 1.7 1.7 1.8 12 7.1 2.5 71 Non.conlrollng rte4ost . . Oret« &enerok Not roos. eel (0.7) I 1.6/ 13.1) (7.3) 7.2 7.0 20 7.9 30.3 31A 21.9 Sow, Caronrtpcm 4ee 084.4d8 Deutsche Bank Securities Inc. Page 39 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0109806 CONFIDENTIAL SDNY_GM_00255990 EFTA01452645