EFTA02276226.pdf

To: From: Sent: Tue 2/5/2019 6:13:17 PM Subject: Tom Brady and Michael Strayhan https. alicnoks go.com beta-story-container GNIA Culturelom-bradv-inakes-cringc-people-call- 2reatest-time stor3.?id--60835585 This email and any files transmitted are confidential and intended for institutional investors and is not subject to all of the independence and disclosure standards applicable to research reports prepared for retail investors. This electronic communication has been prepared by Tourmaline Partners, LLC for distribution to Tourmaline Partners, LLC ("TOUR") clientele. This communication is not intended for public dissemination and the recipient is prohibited from sharing this information. This communication has been prepared for institutional accounts, as defined within FINRA Rule 4512(c), who (1) are capable of evaluating investment rigs independently, both in general and with regard to all transactions and investment strategies involving a security or securities; and (2) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons. Any desk commentary may be inconsistent, and reach different conclusions, with other TOUR trading desk material or independent third party research reports. TOUR is under no obligation to bring them to the attention of recipients of this information. This communication is provided for information purposes only and is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or financial instrument. TOUR is a registered broker-dealer and a member of FINRA and 51PC. For additional disclosures, please visit https://www.tourmalinelk.comiernail-disclosure EFTA_R1_01090509 EFTA02276226