From: Jeffrey Epstein <jeevacation@gmail.com>
Sent: Friday, August 2, 2013 12:11 PM
To: Barrett, Paul S
Subject: Re: Oil pricing

lets start at 250k barrels

On Thu, Aug 1, 2013 at 4:47 PM, Bar=ett, Paul S
> wrote:an

25pct • 93.5 strike • lmillion. So 23.3mm usd collateral.

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

-----Original Message-----
From: Jeffrey Epstein [jeevacation@gmail.com <mailto:jeevacation@gmail.com>]
Sent: Thursday, August 01, 2013 05:50 PM Eastern Standard Time
To: Barrett, Paul S
Subject: Re: Oil pricing

how much margin for 1 million barrells.

On Thu, Aug 1, 2013 at 5:46 PM, Barrett, Paul S =span dir="ltr"> <██████████████████████████
<████████████████████████████> wrote:

So on 100,000 barrels:

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

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

=span style="font-size:8.0pt;font-family:"Verdana","sans-s=rif";color:#5f5f5f">Paul Barrett | Managing
Director | Global Investment Opportuni=ies Group | J.P. Morgan Private Bank |

From: Jeffrey Epstein [mailto:jeevacation@gmail.com <mailto:jeevacation@gmail.com= target=> 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 knock-in

Cashless

Version 2

* Client buys Mar14 WTI 120 call

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

Cashless

=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 Opportuni=ies Group | J.P. Morgan Private Bank |

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

## OIL RIKSIES

<table><tr><th>UNDERLYING=/p&gt;</th><th>OPTION EXPIRY&lt;=b&gt;</th></tr><tr><td>REFERENCE RATE=/b&gt;</td><td></td></tr><tr><td>PUT STRIKE=/p&gt;</td><td>CALL STRIKE</td></tr><tr><td>NET PREMIUM</td><td></td></tr><tr><td>Dec13 WTI</td><td></td></tr><tr><td>15Nov2013 </td><td></td></tr><tr><td>100.50 </td><td></td></tr><tr><td>91.50 </td><td></td></tr><tr><td>109.50 </td><td></td></tr><tr><td>Cashless </td><td></td></tr><tr><td>Jan14 WTI</td><td></td></tr><tr><td>16Dec2013 </td><td></td></tr></table>

## OIL RIKSIES (cont.)

<table><tr><th>99.25</th></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><tr><td>104.00</td></tr><tr><td>94.00</td></tr><tr><td>114.00</td></tr><tr><td>Cashless</td></tr><tr><td>Feb14 BRENT</td></tr><tr><td>13Jan2014</td></tr><tr><td>103.50</td></tr><tr><td>93.00</td></tr></table>

4

## OIL RIKSIES (cont.)

Cashless

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

=span style="font-size:8.0pt;font-family:"Verdana","sans-s=rif";color:#5f5f5f">Paul Barrett | Managing
Director | Global Investment Opportuni=ies Group | J.P. Morgan Private Bank |

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 legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email <http://www.jpmorgan.com/pages/disdosures/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 an= conditions including on offers for the purchase or sale of securities, ac=uracy and completeness of information, viruses, confidentiality, legal pri=ilege, and legal entity disclaimers, available at http://www.jpmorgan.com/pages/disclosures/email <http://www.jpmorgan.com/pages/disdos=res/email> .

## OIL RIKSIES (cont.)

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 <http://www.jpmorgan.co./pages/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