From:

<table><tr><th>From:</th><th>Paul Barrett</th></tr><tr><td>Sent:</td><td>Wednesday, September 27, 2017 2:11 AM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Subject:</td><td>Fwd: TEVA mando</td></tr></table>

Jeffrey

We own TEVA via a mandatory convertible. It's down around 60%. Positio= size of $300K. It pays a 7% coupon. Company has a new CEO and selling ass=ts to de-lever. Probably will top up to Slmm and get paid the 7% while we =ait for the turnaround to happen.

Paul Barrett

Alpha Group Capital LLC

Floor, New York, NY 10019

- Two horizontal black redaction bars on a white background.
- Top bar spans nearly the full image width; second bar is shorter (~60% width) and left-aligned beneath it.
- Surrounding text (provided): "Floor, New York, NY 10019" and "Begin forwarded message:"
- Covered content appears to be redacted text; no readable text visible.

Begin forwarded message:

From: "Ens, Amanda" <> to: 
Date: September 26, 2017 at 11:59:15 AM EDT
To: "Paul Barrett (p <paul@alphagroupcapital.com <mailto:p
Subject: TEVA mando

Paul, the mando is trading quite cheap to the common=o:p>

TEVA mando @ 341

Strip Yield: 20.8%

Low strike: 62.50

High strike: 75.00

If converted today, it would convert at low strike i=to 16 shares

Stock ref: 17.20

16 shares = $275.20

Premium of mando over those shares: $65.80

Mando dividends left: $87.50

Common divs left: $5.44

Amanda Ens

Director

Bank of America Merrill Lynch

Merrill Lynch, Pierce, Fenner & Smith Incorporatatl