EFTA01452600.pdf

28 January 2014 Brokers. Asset Managers & Exchanges Alternative Asset Manager Initiation [Figure 45: BX Advisory Segment income Statement Forecasts INCOME STATEMENT 2012 1013 2013 301S 4017E mIW 10141 2014E 704E 4011E 20149 20151 2016E fMame 1.1nonerneol end Adviser, Fees. Nei Bat Menegerrent Fees 00 00 00 0.0 00 00 00 1.0 2.0 3.0 60 30 30 Aonscry Foes 357 4 670 1207 835 1254 3938 878 131 7 972 1383 4499 5174 5132 TranSsclOn en3 Caber Fees. Net 03 0.0 C) 0.2 01 03 0.1 0.1 0.1 0.1 04 05 05 MmegoT4.4 Fee alms 00 00 Q0 0.0 00 00 00 1.0 2.0 3.0 60 SO 30 Tow leensgovent end Aenscry Fees Net 357 7 67.0 1207 83.8 1266 3971 on 1338 983 1441 4523 5219 6497 Fbtarrrence Fees R•41:93 Ovoid Fewest 00 00 00 0.0 00 00 00 00 00 00 00 Q0 00 Reeked Incerwire Fees 00 00 DO OD 00 00 00 00 00 00 00 00 00 UTedirld Caned Merest 00 00 00 0.0 00 00 00 0.0 00 0.0 00 00 00 Levee/ Meth Fees 00 00 00 00 00 00 00 00 00 00 00 00 00 Tow Recoronce Fees 00 00 00 00 00 00 00 00 00 00 00 00 00 tiVeStiThInt Wont 'LOSE Baotd 14 02 -0.1 -0.8 10 03 to 10 10 10 40 50 60 UTSZOI 3 -04 -15 10 10 01 10 10 10 10 40 50 50 This 11v4s1menl Rowe (10510 27 -0 1 0.2 20 04 20 20 20 2.0 8.0 100 100 hteres1 hcare a spend Revenue 72 1.7 24 25 83 30 3.0 3.0 30 120 100 120 One -0 8 -0 1 0.1 0.8 05 13 05 0.5 0,5 05 20 30 40 Toist Rouen's 3111 61.5 120.1 $7.2 130$ 407.1 114 1111 101.1 1411 4041 540 5717 &Awes Cetwensgsal Carpals/eon 235 I 579 712 57.5 816 2731 57.1 87.0 026 93.8 3005 340 5 3573 Perfornece Fa. anoctsslon Retie/ ti ned Mores' 00 0.0 Q0 0.0 0.0 00 00 00 00 0.0 00 Q0 00 Reeked licentre Fees 00 0.0 00 0.0 00 00 00 0.0 0.0 0.0 00 00 00 Ltresken area Moat 00 00 00 0.0 00 00 00 0.0 00 0.0 00 00 00 Lrreeized Mateo Fees 00 00 00 0.0 00 00 00 00 00 00 00 00 00 TOMPolinTotto Foe Orrponsabon 00 00 00 00 00 00 00 00 00 00 00 00 00 Tube 0311161seun a Balett 2351 579 762 57.5 816 273 1 571 87.0 626 93 8 30)5 340 5 3573 Obee Opert4e$ &ones 845 20.7 209 192 211 819 21 8 224 231 238 910 965 994 Tout Reponse, 3117 it. 970 711 1027 3550 719 101 116.7 117.6 391.5 437.0 4617 Economic Income 47.1 40.2 251 10.6 271 520 16.5 216 111 32.2 12.1 1061 1110 seine Crown',on extOrvesthe Sant Page 48 Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0109734 CONFIDENTIAL SDNY_GM_00255918 EFTA01452600