EFTA01086758.pdf

RECONCILIATION OF AMOUNT DUE SETTLOR HISTORIC TOTAL DISTRIBUTED to LDB 18,914,231 19,288,749 92,064,737 93,235,454 $ 223,503,171 RECALCULATION 2006 Trust BRH distributions due LDB 24,034,033 35,514,885 59,548,918 TRA excl Prorate due LDB 1,040,544 2,863,695 4,663,263 11,926,636 1,733,890 22,228,028 TOTAL DUE LDB 81,776,946 $ LDB Overpaid $ 141,726,225 EFTA01086758  • Please note that we only externally disclose ENI for ACM only and not for AMU. We only disclose internally for DNI for AGM only. There was no formal policy on our DNI definition until the second half of 2011. Amounts presented above are conformed to this new definition. AM II ENI and DN1 is a proxy estimate based on our definition for ENI and DNI umm.ry• . / ' aym nts• - II ' - c.lcul.ti•n (1) Historical Payments 2008 2009 (2) 2010 (2) ion v-rro seise '12(7) Total Distributions Total AGM Distributions 207 17 72 305 516 1,117 per shore $ 0.56 $ 0.05 $ 0.21 $ a83 $ 0.95 $ 2.60 BRH Holdings Distributions to BFP 58 11 19 89 139 316 Distributions to 2006 Trust/LDB (3) 4 18 14 97 83 216 TRA Gross TRA Payment (4) 25 15 40 17 - 97 TRA Payment, excl Pro-rata to BFP (4" ) 2 4 6 16 2 10 TRA Payment, excl Pro-rata to LOB (In " 1 3 5 12 2 22 Recalculation 2008 2009 2010 2011 YTD Sept '12 Total Distributions AMH Mgmt Co. DNI Proxy Estimate (5) (48) 149 289 112 182 684 Pro-Forma Amounts to BFP from BRH - - 32 49 81 Distributions due LDB - - 24 36 60 IBA_ TRA Payment excl Pro-rata (4) (6) 9 15 40 6 - 70 Pro-Forma Amounts to BFP from BRH 2 4 6 16 2 30 Distributions due LDB 1 3 5 12 2 22 % of BRH related distribution from BFP due LOB 69.17% 72.67% 75.37% 74.21% 72.42% 72.42% (0 mai AtilI DNI bagel-RA inchaks Paco milbon Manion antlernou expense Saadi° the iladonfiluntiman (Apace StlflancnI which was reirsbunied in 2009 for 637.5 no Mon and SM.!: mdllon in ant Also note tbs 2008 and amp Mil Nigrot Co. DNI maccestimate to:bides acti-rash other income item related to gam from repurchased debt and gain related to general partner commitments. (2) In December 2009. the AMH partemeltip agreement was minted to provide (or special allocations to APOCorp. and a nicluetion of ineonitamated to holdings for the mil* and 2040 calendar )eam. The anwodinerte allows (or a MaXiIIMIM Abe:Him of Scene from Holding; of approximately $22.1million in 2009 and eliminates any WOWe allocation to Holdiags in soio. AGM allocated $117.5 Silica and 322.1million of AMII income to APO Corp. In 2010 and 2011. respectively. (3) 2008 income received was netted against annuity payments until lemtination of stetson ra/ao/o8. Only Heist dividend and TRA was distributed to LDB. GmastRA cash payment is paid in subsequent year relative to realised tax benefit front the peke tax year (5) AbIll DNI represents AM( Pill plus add-back for Stock -Based Aroortircalion less cash used (or net share deliveries andis not redticed (a Gross TRA Accrual (6) TMexcluding proema reilectsTRA mimed to AMH only (7) 'Deluder distribution on 10/3 EFTA01086759  * Please note that we only externally disclose ENI for AGM only and not for AMH. We only disclose internally for 13/41 for AGM only. There was no formal policy on our DNI definition until the second half of 2011. Amounts presented above are conformed to this new definition. AMH ENI and DNI is a proxy estimate based on our definition for ENI and DNI .umma of Historical Pa ments and Recal Historical Payments QT12 Distributions Total AGM Distributions (1) 148 per share .5 0.40 BRH Holdings Distributions to BFP 38 Distributions to 2006 Trust/LDB mmt Gross TRA Payment TRA Payment, excl Pro -rata to BFP - TRA Payment, excl Pro -rata to LDB - Recalculation Q3' 12 Distributions AMH Mgmt Co. DNI Proxy Estimate (21 60 Pro -Forma Amounts to BFP from BRH 16 Distributions due LDB 11 rg,4 TRA Payment excl Pro -rata - Pro -Forma Amounts to BFP from BRH - Distributions due LDB 96 of SRN related distribution from BFP due LOB 72.42% Notes: (1) Represents AGM distribution on November '12 as it relates to the Q3 '12 dividend paid in Q4 '12 (2) AMH DNI represents AMH ENI plus add-back for Stock —Based Amortization less cash used for net share deliveries and is not reduced for Gross TRA Accrual EFTA01086760  Total AGM Distributions Details Dividend Date Payment Dividend Apr-08 111,317,098 0.33 Jul-08 77,584,644 0.23 Dec-08 18,147,498 Jan-09 16,866,227 0.05 Jan -10 299,344 May-10 23,773,182 0.07 Aug-10 23,950,643 0.07 Nov-10 23,945,966 0.07 Jan-11 60,996,183 0.17 May-11 80,947,223 0.22 Aug-11 88,659,021 0.24 Nov-11 74,123,050 0.20 Jan 12 12,469,400 Feb-12 171,619,169 0.46 May-12 93,644,543 0.25 Aug-12 90,413,436 0.24 Nov-12 148,021,597 0.40 Summary by year 2008 207,049,240 0.56 2009 16,866,227 0.05 2010 71,969,135 0.21 2011 304,725,477 0.83 YTD Nov 12 516,168,145 0.95 EFTA01086761  Total Distributions from BRH to BFP Painient Heritage Adjustment Gross- Up Distn Apr-08 30,396,010 30,396,010 30,396,010 Jul-08 21,185,098 923,953 22,109,051 22,109,051 Dec-08 5,526,547 5,526,547 1,539,353 7,065,900 Jan-09 4,605,456 4,605,456 4,605,456 Sep-09 6,888,945 6,888,945 3,759,486 10,648,431 Apr-10 6,172,991 6,172,991 May-10 6,490,902 6,490,902 6,490,902 Aug-10 6,490,902 6,490,902 6,490,902 Nov-10 6,490,902 6,490,902 6,490,902 Jan-11 15,763,618 15,763,618 15,763,618 Apr-11 15,993,237 15,993,237 May-11 20,399,977 20,399,977 20,399,977 Aug-11 22,254,520 22,254,520 22,254,520 Nov-11 18,545,433 11,540,638 30,086,071 30,086,071 Feb-12 42,654,496 42,654,496 42,654,496 Apr-12 4,258,834 4,258,834 2,385,813 6,644,647 May-12 23,181,792 7,961,356 31,143,148 31,143,148 Aug-12 22,254,520 71,403 22,325,923 22,325,923 12-Nov 37,090,866 1,293,162 38,384,028 38,384,028 277,804,490 21,790,512 16,674,326 316,269,328 29,850,880 346,120,208 Summary of Payments to BFP 2008 51,581,107 923,953 5,526,547 58,031,607 1,539,353 59,570,960 2009 4,605,456 6,888,945 11,494,401 3,759,486 15,253,887 2010 19,472,705 19,472,705 6,172,991 25,645,696 2011 76,963,548 11,540,638 88,504,186 15,993,237 104,497,423 2012 125,181,674 9,325,921 4,258,834 138,766,429 2,385,813 141,152,242 40Sitatini*AN' EFTA01086762  ` Please note that we only externally disclose EM for AGM only and not for AMH. We only disclose internally for DNI for AGM only. There was no formal policy on our DNI definition until the second half of 2011. Amounts presented above are conformed to this new dentition. AMH ENI and DM is a proxy estimate based on our definition for ENI and MI AMH GAAP to ENI to DNI Reconcilation Notes: YTD Sept Cumulative AMH GAAP to ENI to DNI Reconcilation 2008 2009 2010 2011 2012 Total (i) Cumulative Variance of $145 mm (in trrnons) Actual Actual Actual Actual Actual Actual due to $72mm difference from AMH GAAP Net Income l Filed and Audited FS) S (1,299) $ (801) 5 (654) $ (1,041) 18 (3,777) AMH Mgmt Co. ENI proxy estimate of $611 and AGM ENI of Recastilotion to Ehll Subtract: Stock- Based Compensation 1,181 1,133 1,079 1,062 386 4.841 $539 million and Adjustments to Add.back: Nnortization of Intangibles 2 3 3 6 24 38 DNI of $73 million Add-back: Taxes (2) 12 11 9 10 39 Noo-wsb Adjustments Management Business 1,181 1.147 1,093 1,077 420 4,918 (2) Cumulative Variance of $72 AMH Total EMI Proxy estimate (118) $ 346 439 $ 36 438 $ 1,141 million primarily due to audit and tax expense that is booked on BID.eash Adiustments. advisor entities and salaries, Subtract Carried Interest (income) loss (48) (194) (278) 152) (435) (1,002) 47 45 221 bonus and benefits in 2008 and Add-back: MC Net Interest Income 50 50 28 Md-back: Profit Sharing and Incentive Fee Expense 2009 that were booked to AGM 17 56 33 130 236 Legal entity. It was not until 2009 Subtract : Investment Income (ton) 30 (4) ( 3) (1) (3) 20 Adjustments - Incentive Business 31 (130) (177) 25 (279) (530) that all salaries bonus and benefits were booked on AGM LLC AMH Proxy Mgmt Co ENI estimate (86) $ 217 $ 262 61 $ 159 611 Subtract. Gain from Repurchase of Debt 436) (36) Subtract: Gain related to General Partner Committmenti 38 (38) Subtract. Stock- Based Compensation 7 31 68 SO 155 Add-back: Impact of Net Share Settlement (3) (17) (26) (46) Adjustments to DNI 38 (67) 28 51 24 73 AMH Mgmt Co. DUI Proxy estimate (48) $ 149 $ 289 $ 112 182 684 AGM MGT ENI Proxy Estimate (109) $ 153 260 76 159 539 Variance (AMU memt Co ONt vs AGM Mgt Co. I111)11 61 $ 14) $ 29 35 24 145 !Variance Mgmt Co. ENI vs AGM Mgt Co. ENI)I4 22 $ 64 $ 2 $ (16) (0) $ 72 EFTA01086763