EFTA00710960.pdf

From: "Joshua M. Black" -4 To:' if .:1 CC: Leon Black -1 >, Melanie Spinella Subject: FW: FW: Crown Global CIM Date: Fri, 04 Dec 2015 19:25:06 +0000 Attachments: Crown_Global_PPLI_CIM_November_2015.pdf Inline-Images: image001.jpg Hey there. Thanks for sending this. Went through this — • On surface of it, is very interesting model; would be great to have a meeting.... • That said, lot of questions / diligence to do, including on: o Business model o Financials / historical performance o Regulatory / tax / other structuring o Management o Risk management and reinsurance program o Scalability of assets / the PPLI market o Control and governance o HoldCo fee allocations o AM Best rating o Historical liquidity / cash burn o AUM withdrawals / policy cancellations • When do they want initial proposal by? • What are their valuation expectations? o My quick read says it deserves: • Legacy business: $1.0-1Sm, with a large earn-out component • Capital for new business: $5-10m (but need to understand capital intensity of business better) Thanks. From: Melanie Spinella Sent: Tuesday, December 01, 2015 9:53 AM To: Joshua M. Black Subject: FW: FW: Crown Global CIM From: Jeffrey E. [mailto: Sent: Tuesday, December 01, 2015 9:50 AM To: Melanie Spinella Subject: Fwd: FW: Crown Global cmi pass on to josh black thanks EFTA00710960 Forwarded message From: Chris Calise Date: Tue, Dec 1, 2015 at 10:46 AM Subject: FW: Crown Global CIM To: "jeevacation®gmail.com" <jeevacation@gmail.com> Cc: Perry Lerner < Jeffrey- Attached is a description of our company prepared earlier this year, the financials need to be updated to reflect growth since then. The important point is that a foreign corporation (which is not a controlled foreign corporation) which owns 25% or more of our shares will be treated as an insurance company for PFIC purposes and its income is not subject to current US income taxation. Please let us know when you would like to set up a meeting to discuss. Thanks Chris Calise President Crown Global Office: Mobile: Email: This message (and any associated files) is intended only for the use of the individual or entity to which it is addressed and may contain information that is confidential, subject to copyright or constitutes a trade secret. If you are not the intended recipient, you are hereby notified that any dissemination, copying or distribution of this message, or files associated with this message, is strictly prohibited. Any U.S Federal Tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code of 1986, as amended, or (2) promoting, marketing or recommending to another party any tax-related matters) addressed herein. Prospective investors should consult their own tax advisors regarding such issues. 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Monica Rodriguez Greene Consultant Vanbridge LLC EFTA00710961 This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. This message contains confidential information and is intended only for the individual named. If you are not the named addressee, you should not disseminate, distribute or copy this email. Please notify the sender immediately by email if you have received this email by mistake and delete this email from your system. If you are not the intended recipient, you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. WARNING: Computer viruses can be transmitted via email. The recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email. 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