<table><tr><th>From:</th><th>Richard Kahn &lt;</th></tr><tr><td>Sent:</td><td>Monday, June 1, 2015 5:36 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>Fwd: Monthly TWTR Swap Reset [SC]</td></tr></table>

please advise if ok to pay settlement of 1,529,290.08

Richard Kahn

- Not a chart. Key text: "HBRK Associates Inc." (top-left).
- Image content: large black/redacted rectangle occupying central area—appears to hide or remove underlying content.
- Context (from surrounding text): "Richard Kahn" and "Begin forwarded message:" — suggests this is an email screenshot with most content redacted.

Begin forwarded message:

The image shows the headers of an email.
*   From: Ariane Dwyer
*   To: Richard Kahn
*   Cc: Vahe Stepanian

Subject: =/b>RE: Monthly TWTR =wap Reset [SC]

Date: June 1, 2015 at 1:14:03 PM EDT

Hi Rich,

I hope you had an =njoyable weekend. Can you please confirm you agree with the below =etails of the monthly Twitter swap settlement?

Best,

Ari

From: Vahe Stepanian Sent: Friday, May 29, 2015 1:05 PM To: Richard Kahn Cc: Jeanne Brennan; Ariane Dwyer Subject: RE: Monthly TWTR Swap Reset [SC] [C]

Classification: Confidential

Per our =iddle office, the LIBOR rate used was 0.1843% and the number of days is =2 (from 4/30/15 to 6/1/15).

Thank you,

Vahe

From: Richard Kahn
Sent: Friday, May 29, 2015 12:19 PM
To: Vahe Stepanian
Cc: Jeanne Brennan
Subject: Re: Monthly TWTR Swap Reset [SC]

what was libor rate you used for interest =alculation?

thanks

Richard Kahn
HBRK Associates Inc.
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████
██████████████████████████████████████████████████████████

> wrote:

Classification: Strictly Confidential

Rich- please confirm =ou agree with the below details of the monthly Twitter swap =ettlement.

We will call =arren to verbally confirm wire transfer to DBAG London after receipt of =our approval.

DB Receives =,529,290.08 USD

Reset=Date: 27-May-2015

Value =ate: 01-June-2015

Interest: 4,290.08

Equity: 1,525,000.00

Note that the last reset date was 4/27/2015, and =dditional details are included on attachment (password will follow =nder separate cover). I've also included a Bloomberg screenshot =ith TWTR closing prices below for your convenience.

Thank you,

Vahe

--

<image002.jpg>

Vahe Stepanian

Assistant =ice President | Key Client Partners

3

Deutsche Bank Securities Inc.

All trade execution information contained herein is being provided as an =ccommodation at your request in advance of your receipt of the official =rade confirmation(s). Additional trade detail information available =pon request. The terms of the trade(s) may be subject to change prior to settlement, and therefore the official =rade confirmation(s) and account statements issued by Deutsche Bank =hall govern. Deutsche Bank is not responsible for any discrepancy =etween the informal execution report and the official trade confirmation(s) or account statements.

This communication may contain confidential and/or privileged =nformation. If you are not the intended recipient (or have received =his communication in error) please notify the sender immediately and =estroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly =orbidden.

Deutsche Bank does not render legal or tax advice, and the information =ontained in this communication should not be regarded as =uch.

<612676 - SF.DOCX>

This communication may contain confidential and/or privileged =nformation. If you are not the intended recipient (or have received =his communication in error) please notify the sender immediately and =estroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly =orbidden.

Deutsche Bank does not render legal or tax advice, and the information =ontained in this communication should not be regarded as such.

4