EFTA00693351.pdf

6:59 AM APO2 Declaration (7-19) 11/22/15 Balance Sheet Accrual Basis As of November 22, 2015 Nov 22, 15 ASSETS Current Assets Checking/Savings 110000 • CASH 111000 • Cash at Bank 111124 • BofA (1792) 9,667,750.73 Total 111000 • Cash at Bank 9,667,750.73 112000 • Cash at Brokerage 112011 • JP Morgan Chase (2968)/(8436) 173,730.39 Total 112000 • Cash at Brokerage 173,730.39 Total 110000 • CASH 9,841,481.12 Total Checking/Savings 9.841.481.12 Accounts Receivable 120000 • RECEIVABLES 122000 • Receivable Related Party 122003 • Due from Black Family 1997 GST a - Interest 163.13 a - Principal 44,780.00 Total 122003 • Due from Black Family 1997 GST 44,943.13 122026 • Due from PASI LLC Interest 35,957.00 Principal 3,301,000.00 Total 122026 • Due from PASI LLC 3,336,957.00 Total 122000 • Receivable Related Party 3,381,900.13 Total 120000 • RECEIVABLES 3,381,900.13 Total Accounts Receivable 3,381,900.13 Other Current Assets 130000 • INVESTMENTS 131000 • Marketable Securities 131009 • Buckingham RAF Partners LP 6,012,083.43 131010 • JPM Portfolio Environmental Solutions 6,887,494.00 Total 131010 • JPM Portfolio 6,887.494.00 131013 • Lumos Networks 16,987.52 131014 • DHI Group, Inc. 87,307.00 Total 131000 • Marketable Securities 13,003,851.95 Page 1 EFTA00693351 6:59 AM APO2 Declaration (7-19) 11/22/15 Balance Sheet Accrual Basis As of November 22, 2015 Nov 22, 15 132000 • Apollo Investments (Private) 132014 • Apollo RE Advisors III 1.00 132024 • AREIF III Co-Investors 1.00 132025 • AREIF IV Co-Investors 1.00 132026 • Apollo RE Advisors IV 1.00 Total 132000 • Apollo Investments (Private) 4.00 133000 • Investment Partnerships (Pvt) 133009 • M-Related LLC 1.00 133018 • Blue Star I LLC 31.896.00 133019 • Dune Real Estate Fund LP 1.712.810.00 133020 • Gifthorse Partners, LLC 113.774.00 133021 • Quadrangle Capital Partners II 1.181.505.36 133022 • Markstone Capital Partners 30.794.00 133023 • ProQuest Investments, LP 71.060.16 133024 • Blue Sunshine, LLC 12.625.00 133026 • AP Energy Partners 206.000.00 133031 • Jerusalem Venture Partners LLC 3.127.00 Total 133000 • Investment Partnerships (Pvt) 3,363,592.52 134000 • Family Investment Vehicles 134001 • Black Family Partners, LP 269,397,274.00 134032 • PASI LLC 5,200,986.00 Total 134000 • Family Investment Vehicles 274,598,260.00 Total 130000 • INVESTMENTS 290,965,708.47 140000 • FINE ART & TANGIBLE INVESTMENTS 140100 • Fine Art 140115 • Direct 140116 • Cost A.Kubin - Boy Playing 81.656.25 A.Kubin - Carnival 272.187.50 A.Kubin - The Volcano 174200.00 A.Kubin - Untitled (Forward) 70.768.75 A.Kubin - Weber Portfolio 5.443.75 A.Kubin - Weeping Trees 217.750.00 E. Delacroix - Vues du Maroc 1.996.903.59 E.Schiele - Stadt am Hammer 3.228.143.75 G. Penone - Pelle del mont 221.798.16 Richard Serra - Ramble 4.3 240.750.00 Richard Serra - Ramble 4.4 240.750.00 01. • Magritte - Le bain de cristal 1.942.000.00 Total 140116 • Cost 8.692.351.75 Total 140115 • Direct 8,692,351.75 Page 2 EFTA00693352 6:59 AM APO2 Declaration (7-19) 11/22/15 Balance Sheet Accrual Basis As of November 22, 2015 Nov 22, 15 140120 • Decanted from 1997 Trust 140121 • Cost Art Purchased Pre-2013 225.027.049.00 01 • Brueghel - The Elder 10.559.786.25 02 • Van Doesburg - Alyssa 1.833.182.81 03 • Cornell - Moon River 5.256.212.81 04 • Klee - Drei sanfte Narrenworte 501.913.75 05 • Runge - Four Times of the Day 419.168.75 06 • Redon - L'Araigne (The Spider) 168.015.90 07 • Pippi - Bacchus As Autumn 97.987.50 08 • Vasari - Saint Eustache 342.956.25 09 • Bontecou - Untitled 517.156.00 10 • Picasso - The Three Graces 244.969.00 11 • Ryman - Versions X 1.415.375.00 12 • Peruzzi - Artist drawing Noblem 2.071.346.88 13 • Penone - Tre scorn e scorn 2.612.150.78 14 • Nolde - Junges Paar 525.622.37 15 • Ensor - Nuees Chevauchee Walkyr 816.845.58 16 • Heckel - Mannerbildnis 241.502.17 17 • Nolde -Tanzerin 1.150.686.81 18 • Van Gogh - Carriere Saint-Remy 46.271.875.00 19 • Do Waal - the city & desire 146.981.00 20 • Munch - Evening, Melan, Woodcut 1.712.792.14 21 • Piranesi - Study Stand Man Seen 281075.00 22 • Gericault -Lion Devouring Horse 402.837.50 23 • Barbieri - Landscape 580.177.46 24 • Ants, 1929, gouache 1.076.773.75 25 • Kirchner - Stehender Madchenakt 52.260.00 26 • Giacometti - Le Vide-poehes 4.572.750.00 27 • Marden - Untitled 1.633.125.00 28 • de Goya - La Tauromagnla 1.088.750.00 29 • Van Gogh - Le Fumeur 321493.74 32 • Grotjahn - Untitled 318.459.38 33 • Piranesi Invention' Capric Care 491652.81 34 • Della Porta - Fra Bartolommeo 1.252.062.50 35 • Jasper Johns - Regrets 17/35 39.086.12 36 • Jasper Johns - Regrets 17/36 39.086.13 37 • Redon - Les epines rouges 1.306.500.00 Total 140121 • Cost 315.394.665.14 Total 140120 • Decanted from 1997 Trust 315,394,665.14 140140 • Unrealized - Fine Art 24,958,185.00 Total 140100 • Fine Art 349.045.201.89 Page 3 EFTA00693353 6:59 AM APO2 Declaration (7-19) 11/22/15 Balance Sheet Accrual Basis As of November 22, 2015 Nov 22, 15 140200 • Valuables 140210 • Chinese Bronzes 5,033,926.00 140220 • Books 3.180.000.00 140230 • SE Asian Art 1,500,000.00 Total 140200 • Valuables 9,713,926.00 140300 • Real Estate 140310 • SH Meadow Lane LLC 18.304.653.55 140330 • OFH LLC 16,803,714.13 Total 140300 • Real Estate 35,108,367.68 140600 • Operating Businesses 140610 • PLB LLC 14,524,556.26 Total 140600 • Operating Businesses 14,524,556.26 Total 140000 • FINE ART 8 TANGIBLE INVESTMENTS 408,392,051.83 Total Other Current Assets 699,357,760.30 Total Current Assets 712,581,141.55 TOTAL ASSETS 712,581,141.55 LIABILITIES 8 EQUITY Liabilities Current Liabilities Accounts Payable 210000 • PAYABLES 211000 • Accounts Payable 211004 • Use Tax Payable - NY 162,778.59 211005 • Use Tax Payable - FL 46,010.16 Total 211000 • Accounts Payable 208,788.75 212000 • Payable to Related Party 212002 • Due to LBF Holdings LLC a • Principal - LBF 78,946,265.10 b • Accrued Interest - LBF 48,020.38 Total 212002 • Due to LBF Holdings LLC 78,994,285.48 Total 212000 • Payable to Related Party 78,994,285.48 Total 210000 • PAYABLES 79,203,074.23 Total Accounts Payable 79,203,074.23 Total Current Liabilities 79,203,074.23 Page 4 EFTA00693354 6:59 AM APO2 Declaration (7-19) 11/22/15 Balance Sheet Accrual Basis As of November 22, 2015 Nov 22, 15 Total Liabilities 79,203.074.23 Equity 300000 • Opening Balance Equity 34%801.384.24 300001 • Leon 8. Debra Black -10,000.000.00 300007 • Judah 2009 Trust 263,381,213.67 300010 • Alexander Black -116.250.00 300026 • APO2 Declaration 124.84 320000 • Retained Earnings 131,045.806.47 Net Income -100,734,211.90 Total Equity 633,378.067.32 TOTAL LIABILITIES 8. EQUITY 712,581,141.55 Page 5 EFTA00693355