<table><tr><th>From:</th><th>Jeffrey Epstein &lt;jeevacation@gmail.com &gt;</th></tr><tr><td>Sent:</td><td>Thursday, August 1, 2013 9:50 PM</td></tr><tr><td>To:</td><td>Barrett, Paul S</td></tr><tr><td>Subject:</td><td>Re: Oil pricing</td></tr></table>

how much margin for 1 million barrells.

On Thu, Aug 1, 2013 at=5:46 PM, Barrett, Paul S <paul.s.barrett@jpmorgan.com <mailto:paul.s.ba=rett@jpmorgan.com>
></=pan> wrote:

So on 100,000 barrels:=/u>

<=p>

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

<=p>

</=>

<=p>

<=p>

<=p>

=span style="font-size:8.0pt;font-family:"Verdana","sans-
s=rif";color:#5f5f5f">__________________________________________________________________=_________________________

=span style="font-size:8.0pt;font-family:"Verdana","sans-s-rif";color:#5f5f5f">Paul Barrett= | Managing Director
| Global Investment Opportunities Group | J.P. Morgan Private =ank |
320 Park Avenue, 14th Floor, New York, NY=10022 | T:  | F: 
| NMLS ID#:

<=p>

From: Jeffrey =pstein [mailto:=eevacation@gmail.com <mailto:jeevacation@gmail.com> ]
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 me = chart of size and profits at 130.150

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

## BULLISH WTI RISKIES

Version 1

* Client buys Mar14 WTI 110 call

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

Cashless

Version 2

• Client buys Mar14 WTI 120 call

* Client sells Dec13 WTI put; 95 strike; 90 at-expiry knock-in<=>:

The image shows the word "Cashless" and two mathematical symbols "</=>". Also there is a long line at the bottom that is split with a "=" sign.

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

320 Park Avenue, 14th Floor, New York,=NY 10022 | T:  | =F:

| NMLS ID#:

<=>:

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

OIL RIKSIES

<=>:

## BULLISH WTI RISKIES (cont.)

<table><tr><th>UNDERLYING=u&gt;</th></tr><tr><td>OPTION EXPIRY&lt;=b&gt;</td></tr><tr><td>REFERENCE RATE=/b&gt;</td></tr><tr><td>PUT STRIKE=u&gt;</td></tr><tr><td>CALL STRIKE</td></tr><tr><td>NET PREMIUM</td></tr><tr><td>Dec13 WTI</td></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></table>

## BULLISH WTI RISKIES (cont.)

104.50

95.00

114.50

Cashless

Jan14 BRENt

11Dec2013

104.00

94.00

114.00

Cashless

Feb14 BRENT

13Jan2014

103.50

93.00

114.00

Cashless

<=>>

Paul Barrett | Managing Director | Global Investment Opportunities Group | J.P. Morgan Private Bank |
320 Park Avenue, 14th Floor, New York,=NY 10022 | T: ████████████████████████████████████ | =F:
███████████████████████████████████████████████
█████████████████████████ | NMLS ID# ██████

<=>:

This email is confidential and subject to important disclaimers and cond=tions including on offers for the purchase or sale of securities, accuracy=and completeness of information, viruses, confidentiality, legal privilege= and

## BULLISH WTI RISKIES (cont.)

legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email <http://www.jpmorgan.com/pages/disclosures/email>.

************************************

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

This email is confidential and subject to important disclaimers and conditi=ns including on offers for the purchase or sale of securities, accuracy an= completeness of information, viruses, confidentiality, legal privilege, a=d legal entity disclaimers, available at http://www.jpmorgan.com/pages/=isclosures/email chttp://www.jpmorgan.cogpages/disclosures/email> .

***********

The information contained in this c=mmunication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the a=dressee. It is the property of Jeffrey Epstein Unauthorized use, di=closure or copying of this communication or any part thereof is strictl= prohibited and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, =nd destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved