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⚡IMPACT LEVEL 3 — NOTEWORTHY

Epstein File EFTA02639118: Andrew and Christmas (DS11)

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Email correspondence dated August 24, 2017, between Andrew McCormack and others regarding the preparation and fundraising timeline for Valar Fund IV. The email discusses a target fund size of $100-150 million with a closing target by Christmas 2017 and a 2018 start date for the fund.

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Excerpt 1

Target size will be $100-150M again, with the closing by **Christmas** (=nd a 2018 start date on the fund).

Excerpt 2

Sent: Thursday, August 24, 2017 5:56 PM To: **Andrew** McCormack Subject: Re: Valar Fund IV deck & PPM yes of course On Thu, Aug 24

Excerpt 3

, 2017 at 1:54 PM, **Andrew** McCormack > wrote: As you may recall, we are preparing to raise Fund 4 this=Fall.

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