<table><tr><th>From:</th><th>John Steele</th></tr><tr><td>Sent:</td><td>Tuesday, February 13, 2018 4:19 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Nautilus Update</td></tr></table>

Jeffrey,

Just wanted to give you an update on =autilus. We're talking to both Kalmbach Media (Discover =nd Astronomy magazines) and Bonnier (Popular Science) about an =cquisition of Nautilus through a 80/20 joint venture. The 20% =hat NautilusThink would retain would be used to repay debt. =nbsp;Bonnier just spent the last month restructuring their titles and =re planning to "double down" on science and see =autilus as part of their plan. Kalmbach, which makes most of =heir money on hobby magazines, has a aging demographic and see science =s their growth sector....and they covet our young, educated =udience. They also see an expansion of our Channels custom =ublishing and getting into video.

And in addition we are still in =onversation with Two Sigma about for-profit and non-profit =artnership......Princeton University Press about a merger...a=d Will Hearst wants to talk on Friday. So things are looking up. =nbsp;Will let you know how it all unfolds. Hope all is well with =ou and again thank you for all your support of Nautilus.

All the best,
John

John Steele
Publisher & Editorial Director
Nautilus
25 Broadway, 9th Floor
New York, NY =0004
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www.nautil.us
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