From: Daniel Sabba fclaniel.sabba@db.com) Sent: 1/20/2015 6:16:19 PM To: Paul Morris (paul.morris@db.com] Subject: Re: Twitter follow-up - TRS + short calls (CI Classification: Confidential We spoke when he landed in Florida. Haven't traded yet. Following up tomorrow. Can chip make on friday? From: Paul Morris Sent: Tuesday, January 20, 2015 06:12 PM To: Daniel Sabba Subject: Re: Twitter follow-up - TRS + short calls [C] Classification: Confidential Did he trade today Seeing him friday From: Daniel Sabba Sent: Tuesday, January 20, 2015 09:44 AM To: Jeffrey Epstein <jeevacation@gmail.com> Cc: Vahe Stepanian; Richard Kahn <richardkahn12@gmailcom>; Paul Morris Subject: RE: Twitter follow-up - TRS + short calls [C] Classification: Confidential Jeffrey, Wanted to follow-up with refreshed pricings for ly options. TWTR Spot Ref: 36.56. TRS: Previous levels still apply. European Call options on TWTR: Option Seller: Option Buyer: Notional: Southern Financial LLC DB 250,000 OTC Call Expiry: 20-Jan-16 Strike: 100% of spot Bid: 19.30% (Mid 19.50%) Vol: 48.46% Delta: 60% Expiry: 20-Jan-16 Strike: $40 Bid: $5.67 (Mid $5.74) Vol: 47.68% Delta: 53% CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 115613 CONFIDENTIAL SDNY_GM_00261797 EFTA01456429