From: Richard Kahn Sent: Thursday, May 11, 2017 7:27 PM To: jeffrey E. Subject: Re: Frontier done at 96.625 Richard =ahn HBRK Associates Inc. 575 Lexington =venue 4th Floor On May 11, 2017, at 2:21 PM, jeffrey E. <jeevacation@gmail.com> wrote: Do =t =orwarded message From: Paul Barrett <psbnyc99@gmail.com> Date: Thu, May 11, =017 at 8:17 PM Subject: Frontier To: =effrey Epstein <jeevacation@gmail.com <mailto:jeevacation@gmail.com», Richard Kahn Guys I am no longer comfortable with the frontier position. Price action =fter the dividend cut was disappointing and the new secured bond that =hey will likely issue will not help us. We are now down a total 2.1% on =he position and I think the bond can drop another 5-10 points. We have =evised our EBITDA estimates and they don't look great. Therefore I =ecommend that we sell at 96.00 or better. Sent from my iPhone please =ote The information contained in this =ommunication is EFTA_R1_01889595 EFTA02649755 confidential, may be attorney-client =rivileged, may constitute inside information, and is =ntended only for the use of the addressee. It is the =roperty of JEE Unauthorized use, disclosure =r copying of this communication or any part thereof is =trictly prohibited and may be unlawful. If you have =eceived this communication in error, please notify us =mmediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this =ommunication and all copies thereof, including all =ttachments. copyright -all rights reserved 2 EFTA_R1_01889596 EFTA02649756