Fw: Project Concordia

Personal

Dear Jes,

I hope you are well.

I am grateful that JPM are considering coming alongside Credit Suisse as a book runner in the Vallar listing that I am launching in June.

• This is a unique opportunity, I am committing £100 million of my personal capital, and post-Atticus this will be a major focus.

When I am back in New York, I would be happy to take you through the strategy and some of the potential acquisition targets that I have identified.

I look forward to working with Robin Renwick, Ian Hannam and the rest of the JPM team.

Yours sincerely,

Nat Rothschild

Nat,

Congrats on your new venture, it sounds very interesting. I am pleased that we are looking to work with Credit Suisse on the capital raise and I look forward to hearing how things develop.

Best,

Jes

Dear Jes,

Thanks for your note.

I plan to start some pre-marketing in China next week, and must therefore finalise the Chairman appointment this week.

Can non-executive you please Chairman discuss or a internally non-executive and let director me have of a Vallar. decision on whether Robin may act as

I would be delighted to have Robin alongside me as Chairman.

yours

Nat

copy to: Lord Renwick, Ian Hannam Esq.

interesting, protect

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