EFTA02356695

From: Richard Joslin Sent: Wednesday, October 29, 2014 2:27 PM To: jeffrey E.; Eileen Alexanderson Subject: Apollo update Just got off horn with Apollo - earnings releaí tomorrow and I will get official info numbers from CAO then. Below are =hisper numbers Revised cash flow per share higher 2/28/15 to 0.73 (=s 0.47 prior guidance). Add'I cash $25MM Revised 2015 cash distribution is now $150MM. =ax income will be less than cash distribution by $S0MM due to use of Apoll= stock to pay employees. Acceleration of charity into 2014 might be in order =o ensure 28% tax deduction vs deduction against capital gain income (20%)<=:p> Cash distribution 4/15 of $25MM is confirmed to e=clude TRA amount. TRA amount paid 4/15/15 approx. $24.4MM</=> Richard loslin CFO Elysium Management LLC 445 Park Ave Ste. 1401 PROT2 PROT0 New York, NY 10022 (w) (646) 589-0305 (c) (203) 581-0509 (f) (646) 589-0330 2 PROT3 PROT1