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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA01037264: Holder (DS9)

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This document is an email correspondence to Bruce Jaeger at a New York address regarding REIT Operating Units. The sender discusses potential tax risk related to exchanging shares or cash for holders, but the excerpt is incomplete and does not provide full context about the transaction or parties involved.

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PM To: Jaeger, Bruce (New York 3 Bryant) Subject: Re: REIT Operating Units i assume there is tax risk if they have to exchange for shares or cash. the **holder**

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