<table><tr><th>From:</th><th>Barrett, Paul S</th></tr><tr><td>Sent:
To:</td><td>Thursday, August 1, 2013 9:47 PM
'Jeffrey Epstein'</td></tr><tr><td>Cc:</td><td>Barrett Team</td></tr><tr><td>Subject:</td><td>RE: Oil pricing</td></tr></table>

So on 100,000 barrels:=/o:p>

You are long at 110/bbl. Be=ow payout is at expiry:

<pan style="font-size:8.0pt;font-family:"Verdana","sans-serif";color:#5F5F5F">:

<=pan style="font-size:8.0pt;font-family:"Verdana","sans-ser=f";color:#5F5F5F">Paul Barrett | M=naging Director | Global Investment Opportunities Group | J.P. Morgan Private B=nk |

320 Park Avenue, 14th Floor, New York, NY 10=22 | 
 | NMIS ID#:

From: Jeffrey Eps=ein [mailto:jeevacation@gmail.comj
Sent: Thursday, August 01, 2013 5:30 PM
To: Barrett, Paul S
Subject: Re: Oil pricing

lets put on some of version 1 to start , give m= a chart of size and profits at 130-150

<u>On Thu, Aug 1,</u> 2013 at 12:16 PM, <u>Barrett, Paul S</u> wrote:

BULLISH WTI RISKIES

Version 1

* Client buys Mar14 WTI 110 call

* Client sells Mar14 WTI put; 93.50 strike; 83.50 at-expiry knoc=-in

Cashless

Version 2

* Client buys Mar14 WTI 120 call

* Client sells Dec13 WTI put; 95 strike; 90 at-expiry knock-in

Cashless

- Header: Cashless
- Name: [Name redacted]
- Role: Managing Director
- Group: Global Investment Opportunities Group
- Organization: J.P. Morgan Private Bank
- Address: 320 Park Avenue, 14th Floor, New York, NY 10022
- Phone: [redacted]
- Fax: [redacted]
- Additional: NMLS (number redacted)

ID

From: Barrett, Paul S
Sent: Wednesday, July 31, 2013 11:23 AM
To: 'Jeffrey Epstein'
Cc: Barrett Team
Subject: Oil pricing

OIL RIKSIES

UNDERLYING

OPTION EXPIRY</=> REFERENCE RATE<=p> PUT STRIKE

CALL STRIKE

NET PREMIUM

<table><tr><th>Dec13 WTI</th></tr><tr><td>15Nov2013</td></tr><tr><td>100.50</td></tr><tr><td>91.50</td></tr><tr><td>109.50</td></tr><tr><td>Cashless</td></tr><tr><td>Jan14 WTI</td></tr><tr><td>16Dec2013</td></tr><tr><td>99.25</td></tr><tr><td>89.50</td></tr><tr><td>108.50</td></tr><tr><td>Cashless</td></tr><tr><td>Feb14 WTI</td></tr><tr><td>15Jan2014</td></tr><tr><td>98.10</td></tr><tr><td>88.00</td></tr><tr><td>107.50</td></tr><tr><td>Cashless</td></tr><tr><td>Dec13 BRENT</td></tr><tr><td>11Nov2013</td></tr><tr><td>104.50</td></tr><tr><td>95.00</td></tr><tr><td>114.50</td></tr><tr><td>Cashless</td></tr><tr><td>Jan14 BRENT</td></tr><tr><td>11Dec2013</td></tr></table>

104.00
94.00
114.00
Cashless
Feb14 BRENT
13Jan2014
103.50
93.00
114.00
Cashless

Paul Barrett= I Managing Director I Global Investment Opportunities Group I J.P. Morgan Private Bank

320 Park Avenue, 14th Floor, New York, N= 10022 | T:  | =F:  | NMLS ID#:

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