<table><tr><th>From:</th><th>aziza alahmadi &lt;</th></tr><tr><td>Sent:</td><td>Tuesday, August 16, 2016 6:12 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Cc:</td><td>Raafat Alsabbagh</td></tr><tr><td>Subject:</td><td>Re:</td></tr></table>

I like your opinion „,

Shall we have a call to discuss the agenda , agenda sho=ld reflect your opinion .

## Regards,

A=iza

Sent from my iPhone

On Aug 16, 2016, at 8:48 PM, jeffrey E. &=t;jeevacation@gmail.com <mailto:jeevacation@gmail.com» wr=te:

my view is=that testing the debt market with such a small amount 10 b, &nbs=; is fraught with more risk than reward. if you get=the money, you have not made a dent in the problem and if there is an= problem with such a small offfering especially compared to the countries&n=sp; liquid reserves, the message would damage a future transaction th=t would make a differnce. . have aramco borrow the money ,=nbsp; not the kingdom.

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