<table><tr><th>From:</th><th>Richard Kahn</th></tr><tr><td>Sent:</td><td>Tuesday, June 26, 2018 10:49 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Fwd: Honeycomb Crossover Opportunity - TME</td></tr></table>

i will forward deck on Tencent Music once received later =onight.. if you are interested we may want to indicate =or more than you desire as it appears david has a lot of =emand

Richard Kahn
HBRK Associates Inc.
575 =exington Avenue 4th Floor
New York, NY 10022
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Begin forwarded message:

From: =/b>Dominique Ahumada <

Subject: =/b>RE: Honeycomb =rossover Opportunity - TME

Date: =/b>June 26, 2018 at 6:31:53 PM =DT

To: =/b>Richard Kahn

Thanks, Rich. =inalizing a deck this evening along with the legal documents.

We have access to $50m =nd are taking indications first-come-first-serve. There is a lot =f demand. Likely we have to cut folks back.

Best,

Dominique

From: =ichard Kahn [mailto:

Sent: Tuesday, June 26, <u>2018</u> 6:30 PM

To: Dominique Ahumad

Subject: Re: Honeycomb Crossover Opportunity - TME

thank you for reaching out with this opportunity =o:p class="">

do you have a deck on TME?

what is your capacity for =nvestment?

please advise

thank you

=

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022
tel █████████████████
fax █████████████████
cell █████████████████

On Jun 26, 2018, at 6:22 PM, =ominique Ahumada <██████████████████████
<mailto:████████████████████████ wrote:

Rich,

Hope this finds you well.

As you know, our team has been working on the music streaming =pace over the past year. Spotify was our first private to public =rossover opportunity, and continues to be a core holding in our Flagship fund. =nbsp;

Today we have a very interesting near-term opportunity for =ou in Tencent Music Entertainment (TME). It's very competitive, =ith a tight deadline, and what we believe is a great IRR.

We will be accepting indications for this single name =o-investment opportunity (Honeycomb Ventures IV LP) until this Friday, =une 29th. Funding will follow by July 9th.

Please let me know if you'd like to speak tomorrow and =eceive our information.

Best regards,

Dominique

| Field | Value |
|---|---|
| Name | [redacted] |
| Title | Head of Capital Partnerships & Talent |
| Embedded image filename | <0e1fd0a3-2617-48c5-bde7-dc6ce9f3babf.png> |
| Address | 645 Madison Avenue, 16th Floor |
| City / ZIP | New York, NY 10022 |
| Blacked-out line | (large black redaction present) |
| W: (work phone) | [redacted] |
| C: (cell phone) | [redacted] |

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