ART INVENTORY - UNREALIZED

ART INVENTORY - UNREALIZED Owner OBJECT TYPE Artist JULY 2014 Total Paid (in Item Description 1 USD) Fair Value (% Ownership) or Cost (if not on Appraisal) Unrealized Gain (Loss) IF PROMISED (PLEDGED) GIFT, NAME OF DONEE INSTITUTION OWNERSHIP NARROWS FINE ART MANET. EDOUARD Portrait de Berthe Morisot 25,226,302 15,000,000 (10,226,302) 100.0% NARROWS FINE ART SMITH, DAVID Cubi II 25,770,000 22,000,000 (3,770,000) 100.0% APO 1 (BLACK 2 FINE ART BAROCCI, FEDERICO Christ blessing angel 6,968,000 3,500,000 (3,468,000) 100.0% APO 1 (BLACK 2 FINE ART MATISSE, HENRI Nu de Dos, 4 etat (Back IV) 53,133,722 50,000,000 (3,133,722) 100.0% APO 1 (BLACK 2 FINE ART PICASSO, PABLO Composition (Composition Au Minotaure) 18,918,808 16,000,000 (2,918,808) 100.0% APO 1 (BLACK 2 FINE ART FRAGONARD, JEAN-HON( Portrait of Francois-Henri, 5th duc d'Harcourt, 30,548,236 28,000,000 (2,548,236) 100.0% NARROWS FINE ART PICASSO, PABLO Tele d'homme 9,103,500 7,000,000 (2,103,500) 100.0% NARROWS FINE ART ROTHKO, MARK Black, White, Blue 5,429,315 3,500,000 (1,929,315) 100.0% LDB 2011 LLC FINE ART SEURAT, GEORGES Au Divan Japonais (café-concert) 7,705,456 6,000,000 (1,705,456) 100.0% NARROWS FINE ART DAVID, JACQUES-LOUIS Les amours de Paris et Helene 4,928,028 3,500,000 (1,428,028) 100.0% NARROWS FINE ART STRAET, JAN VEN DER, C Disegni Rappresentanti it Purgatorio Di Dante 1,525,000 175,000 (1,350,000) 100.0% NARROWS FINE ART KIPPENBERGER, MARTIN Untitled (from the series The Raft of the Medi. 3,819,135 2,500,000 (1,319,135) MoMA 100.0% NARROWS FINE ART PICASSO, PABLO Tele moustachue 8,165,625 7,000,000 (1,165,625) 100.0% NARROWS FINE ART DE GOYA. FRANCISCO Bull Held by a Cord 13,146,222 12,000,000 (1,146,222) 100.0% APO 2 (B FAM 1! FINE ART PERUZZI, BALDASSARE An Artist drawing a Nobleman 2,071,347 1,000,000 (1,071,347) 100.0% APO 1 (BLACK 2 FINE ART BECKMANN, MAX Studie Zu Malepartus (Study for Malepartus) 1,469,813 400,000 (1,069,813) 100.0% APO 1 (BLACK 2 FINE ART SCHIELE, EGON Self Portrait as Saint Sebastian 3,511,219 2,500,000 (1,011,219) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN Christ Crucified Between Two Thieves (The T 2,384,250 1,400,000 (984,250) 100.0% APO 2 (B FAM 1! FINE ART MATISSE, HENRI Figure Decorative 13,976,040 13,000,000 (976,040) 100.0% APO 1 (BLACK 2 FINE ART PICASSO, PABLO Tele de Jeune Homme 4,447,505 3,500,000 (947,505) 100.0% NARROWS FINE ART NOGUCHI, ISAMU Personnage III (Ningen 3) 2,147,500 1,200,000 (947,500) 100.0% NARROWS FINE ART DE TOULOUSE-LAUTREC, Au bal de l'op4ra 10,968,634 10,125,000 (843,634) 100.0% NARROWS FINE ART KIEFER, ANSELM Isis on the Way 1,625,625 800,000 (825,625) 100.0% APO 2 (B FAM 1! FINE ART MUNCH. EDVARD Melancholy 1,702,098 900,000 (802,098) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Baronne Charles-Atharase Walckenear. née I 1,296,630 500,000 (796,630) 100.0% LDB 2011 LLC FINE ART GAUGUIN, PAUL L'Esprit veille (Te Arii Vahine)(Femme tahitier 3,290,086 2,500,000 (790,086) 100.0% NARROWS FINE ART DE GOYA, FRANCISCO La culpa es tuya (test de la taute) (It's all yot 2,778,085 2,000,000 (778,085) 100.0% NARROWS FINE ART MATISSE, HENRI Femme assise en blouse Roumaine motifs dE 3,266,250 2,500,000 (766,250) 100.0% Page 1 of 26 EFTA01154354 ART INVENTORY - UNREALIZED Owner OBJECT TYPE Artist JULY 2014 Total Paid (in Item Description 1 USD) Fair Value (°/0 Ownership) or Cost (if not on Appraisal) IF PROMISED (PLEDGED) GIFT, NAME Unrealized OF DONEE Gain (Loss) INSTITUTION OWNERSHIP NARROWS FINE ART REMBRANDT VAN RIJN Group of six prints including the Six Portrait, 1 9,254,375 8,500,000 (754,375) 100.0% NARROWS FINE ART MANET. EDOUARD La posada (The tavern or Before the Corrida) 2,994,063 2,250,000 (744,063) 100.0% NARROWS FINE ART KLEE, PAUL Untitled 4,725,220 4,000,000 (725,220) 100.0% NARROWS FINE ART MIRO, JOAN Oiseau Lunaire 4,191,688 3,500,000 (691$88) 100.0% APO 2 (B FAM 1! FINE ART MARDEN. BRICE Untitled 1,633,125 1,000,000 (633,125) 100.0% APO 1 (BLACK 2 FINE ART SCHWITTERS, KURT Sword 3,102,938 2,500,000 (602,938) 100.0% NARROWS FINE ART GONZALEZ, JULIO Homme gothique 3,100,324 2,500,000 (600,324) 100.0% NARROWS FINE ART COROT. JEAN-BAPTISTE-t Portrait of Mlle. Jeanne Farochon 1.082.500 500,000 (582,500) 100.0% NARROWS FINE ART SCHIELE, EGON Seated Nude Violet Stockings 3,375,125 2,800,000 (575,125) 100.0% NARROWS FINE ART GAUGUIN, PAUL Self-Portrait 5,062.688 4,500,000 (562,688) 100.0% NARROWS FINE ART ZHANG HUAN Airplanes 758,625 200,000 (558,625) 100.0% APO 1 (BLACK 2 FINE ART GELLEE. CLAUDE A wooded landscape 6,674,582 6,130,500 (544,082) 100.0% APO 2 (B FAM 1! FINE ART RUBENS, PETER PAUL Meleager and Atalanta Hunting the Boar 6,021,753 5,500,000 (521,753) 100.0% NARROWS FINE ART MANET. EDOUARD Huitres 6.502.500 6,000,000 (502,500) 100.0% APO 2 (B FAM 1! FINE ART SHAPIRO, JOEL Untitled 1.181,125 700,000 (481,125) 100.0% APO 1 (BLACK 2 FINE ART GERICAULT, JEAN-LOUIS- Study For the Father in the Raft of the Medus 878,562 400,000 (478,562) 100.0% NARROWS FINE ART CEZANNE. PAUL Le jardin des Lauves: Vue sur Aix et le Cathe 5,960,625 5,500,000 (460,625) 100.0% APO 2 (B FAM 1! FINE ART KAPOOR, ANISH Untitled 1,641,846 1,200,000 (441,846) 100.0% APO 2 (B FAM 1! FINE ART REDON, ODILON Fleurs sur fond noir 1,140,563 700,000 (440,563) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Wettertannen (D. H 392) 1,439,992 1,000,000 (439,992) 100.0% NARROWS FINE ART MATISSE, HENRI Rendering of the Barnes Mural in Progress 2,177,500 1,750,000 (427,500) 100.0% NARROWS FINE ART SEVERINI, GINO L'autobus 1.418.229 1,000,000 (418,229) 100.0% NARROWS FINE ART CARRACCI, LUDOVICO St. John The Evangelist 877,489 460,165 (417,324) 100.0% LDS 2011 LLC FINE ART WATTEAU, JEAN-ANTOINI Study of a Seated Woman 1.407.250 1,000,000 (407,250) 100.0% APO 2 (B FAM 1! FINE ART KLINE, FRANZ Untitled 596,063 200,000 (396,063) 100.0% NARROWS FINE ART MILLET. JEAN-FRANCOIS La ravaudeuse (Madame Millet) 570,833 175,000 (395,833) 100.0% NARROWS FINE ART VAN DYCK. SIR ANTHONY Two Studies of a Bearded Man 7,893,482 7,500,000 (393,482) 100.0% APO 2 (B FAM 1! FINE ART NOGUCHI, ISAMU Bindu 732,800 350,000 (382,800) 100.0% NARROWS FINE ART SCHONGAUER Group of Prints, Including the large Crucifixior 4.355,000 4,000,000 (355,000) 100.0% Page 2 of 26 EFTA01154355 ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART TINTORETTO, JACOPO R( Study of male nude lying on the ground 854,233 500,000 (354,233) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Chandelier 1,449,563 1,100,000 (349,563) 100.0% APO 2 (B FAM 1! FINE ART VAN DOESBURG, THEO Compositie 1,833,183 1,500,000 (333,183) 100.0% APO 2 (B FAM 1! FINE ART BARBIERI, GIANVANNI FR, Landscape 580,177 250,000 (330,177) 100.0% NARROWS FINE ART REDON, ODILON La Tentation de Saint-Antoine 1,573,244 1,250,000 (323,244) 100.0% NARROWS FINE ART BALDUNG, HANS Head of a Man, in Three-Quarter-Profile to th 4,022,880 3,700,000 (322,880) 100.0% NARROWS FINE ART CEZANNE. PAUL Sous-bois and Chapeau et fleurs dans une be 3,320,367 3,000,000 (320,367) 100.0% NARROWS FINE ART DAUMIER, HONORE Galerie de tableaux (Les Amateurs de tableaL 3,810,625 3,500,000 (310,625) 100.0% NARROWS FINE ART DUVET, JEAN Group of Prints including the Apocalypse 3,810,625 3,500,000 (310,625) 100.0% NARROWS FINE ART KLEE, PAUL Exotische Flusslandschatt 1.306.054 1,000,000 (306,054) 100.0% APO 2 (B FAM 1! FINE ART DE TOULOUSE-LAUTREC, LaToilette: Femme qui se lave 3,801,875 3,500,000 (301,875) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Portrait de Mlle. Jeannette Hayard 1.100,000 800,000 (300,000) 100.0% NARROWS FINE ART REDON, ODILON Bouquet de fleurs 2,800,000 2,500,000 (300,000) 100.0% APO 1 (BLACK 2 FINE ART GAINSBOROUGH, THOMA Study of a Lady, Possibly tor the Richmond V‘ 2,996,108 2,700,000 (296,108) 100.0% NARROWS FINE ART CORNELL, JOSEPH Untitled (Bird Box) 435,500 150,000 (285,500) 100.0% APO 1 (BLACK 2 FINE ART MIRO, JOAN Untitled 1.975,000 1,700,000 (275,000) 100.0% NARROWS FINE ART REDON, ODILON Les Fleurs du Mal 1,769,219 1,500,000 (269,219) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Portrait presume de Gioacchino Rossini 768,065 500,000 (268,065) 100.0% APO 2 (B FAM 1!FINE ART MUNCH. EDVARD Madonna (Liebendes Weib) 2,127,927 1,860,000 (267,927) 100.0% NARROWS FINE ART MASTER E. S. Group of 15th Century Prints, Including the ini 3,266,250 3,000,000 (266,250) 100.0% APO 1 (BLACK 2 FINE ART RUSCHA, EDWARD Egg 566,150 300,000 (266,150) 100.0% NARROWS FINE ART HALS. FRANS Portrait of a Man Holding a Book 5,263,016 5,000,000 (263,016) 100.0% NARROWS FINE ART RAUSCHENBERG, ROBER Spring Clearnace 462,719 200,000 (262,719) 100.0% NARROWS FINE ART ZUCCARO, TADDEO A Bacchic procession with drunken Silenus 341,246 80,000 (261246) 100.0% NARROWS FINE ART MIRO, JOAN Pastorale 1,056,656 800,000 (256,656) 100.0% APO 2 (B FAM 1! FINE ART CORNELL, JOSEPH Magic Soap Bubble Set 5,256,213 5,000,000 (256,213) 100.0% NARROWS FINE ART CORNELL, JOSEPH Hotel de l'Etoile (Suzy's Room) 435,500 180,000 (255,500) 100.0% NARROWS FINE ART GELLEE. CLAUDE CALLE( View of Civitavecchia with a Draughtsman an' 2,255,330 2,000,000 (255,330) 100.0% NARROWS FINE ART DELACROIX, EUGENE Portrait de Schmareck. tanneur a Tanger 800,095 550,000 (250,095) 100.0% Page 3 of 26 EFTA01154356 ART INVENTORY - UNREALIZED Owner OBJECT TYPE Artist JULY 2014 Total Paid (in Item Description 1 USD) Fair Value (% Ownership) or Cost (if not on Appraisal) Unrealized Gain (Loss) IF PROMISED (PLEDGED) GIFT, NAME OF DONEE INSTITUTION OWNERSHIP NARROWS FINE ART VAN LEYDEN, LUCAS The Angel Gabriel for an Annunciation: (44.2 3,251,250 3,006,960 (244,290) 44.2% APO 2 (B FAM 1! FINE ART ENSOR, JAMES Les bons juges (The Good Judges) 1,488,645 1,250,000 (238,645) 100.0% LDB 2011 LLC FINE ART NEWMAN. BARNETT Untitled 3,226,529 3,000,000 (226,529) 100.0% APO 2 (B FAM 1! FINE ART VAN GOGH, VINCENT Le Fumeur - L'Homme a la Pipe (Portrait du C 322,494 100,000 (222,494) 100.0% NARROWS FINE ART KUBIN. ALFRED The Swarm 287,197 70,000 (217,197) 100.0% APO 2 (B FAM 1! FINE ART ENSOR, JAMES Les Nuees ou Chevauchee des Walkyries (Tt 816,846 600,000 (216,846) 100.0% NARROWS FINE ART DE GOYA. FRANCISCO Bulls of Bordeaux: a group of four (El America 714,450 500,000 (214,450) 100.0% NARROWS FINE ART KLEE, PAUL WI (In Memoriam) 2,613,000 2,400,000 (213,000) 100.0% NARROWS FINE ART PRUD'HON, PIERRE-PAUL Portrait de Madame Pean de Saint-Gilles 453,688 250,000 (203,688) 100.0% APO 2 (B FAM 1! FINE ART GROSZ. GEORGE Entdeckung in der Vorstadt 325,125 125,000 (200,125) 100.0% APO 2 (B FAM 1! FINE ART PARMIGIANINO. FRANCES Madonna of the Long Neck 1,000,000 800,000 (200,000) 100.0% NARROWS FINE ART ZHANG HUAN Ash Skull No. 14 346,800 150,000 (196,800) 100.0% NARROWS FINE ART VAN MECKENEM. ISRAHEI Group of Prints 2,177,500 2,000,000 (177,500) 100.0% NARROWS FINE ART DORER, ALBRECHT Group of Prints: Woodcuts and Engravings In 2,177,500 2,000,000 (177,500) 100.0% NARROWS FINE ART KANDINSKY. VASSILY Above and Left 6,177,375 6,000,000 (177,375) 100.0% APO 2 (B FAM 1! FINE ART DALI, SALVADOR Ants 1,076,774 900,000 (176,774) 100.0% APO 2 (B FAM 1! FINE ART NOLDE, EMIL Junges Paar 525,622 350,000 (175,622) 100.0% NARROWS FINE ART KLEE, PAUL Frauenportrait in Rot (Bertha) 1,375,000 1,200,000 (175,000) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Pair of Andirons 299,898 125,000 (174,898) 100.0% NARROWS FINE ART BRONZINO, GNOLO Seated Male Nude (Study for the Martyrdom 2,172,500 2,000,000 (172,500) Met 50.0% NARROWS FINE ART REDON, ODILON Beatrice 868,125 700,000 (168,125) 100.0% APO 2 (B FAM 1!FINE ART BONTECOU. LEE Untitled 517,156 350,000 (167,156) 100.0% NARROWS FINE ART REDON, ODILON Dans le rave (Mellerio 27-36) 205,675 40,000 (165,675) 100.0% NARROWS FINE ART RICKEY, GEORGE Two Lines Up Excentric - Twelve Feet 762,125 600,000 (162,125) 100.0% NARROWS FINE ART MILLET, JEAN-FRANQOIS Cooper Tightening Staves on a Barrel 286,863 125,000 (161,863) 100.0% NARROWS FINE ART CARPACCIO, VITTORE Study of a Lion 1,850,875 1,700,000 (150,875) 100.0% APO 1 (BLACK 2 FINE ART GAINSBOROUGH, THOMA Portrait of Caroline 4th Dutchess of Marlboro'. 2,650,562 2,500,000 (150,562) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Pedestal a l'oiseau 324,750 175,000 (149,750) 100.0% rnr;I; diT - I pill; ,I; r 100,000 (149,458) Page 4 of 26 EFTA01154357 ART INVENTORY - UNREALIZED JULY 2014 Total Paid (in Fair Value (°/0 Ownership) or Cost (if not on Unrealized IF PROMISED (PLEDGED) GIFT, NAME OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART CONSTABLE, JOHN Cloud Study 598,813 450,000 (148,813) 100.0% NARROWS FINE ART KLEE, PAUL Tief-Ebene (Lowlands) 1.897.564 1,750,000 (147,564) 100.0% NARROWS FINE ART LELY, SIR PETER A standing figure of a gentleman from the Prc 1,794,461 1,648,165 (146,296) 100.0% NARROWS FINE ART VALDES. MANOLO Ariadna I 695,050 550,000 (145,050) 100.0% APO 2 (B FAM 1! FINE ART PIRANESI, GIOVANNI Study of a standing man seen from behind 283,075 140,000 (143,075) 100.0% NARROWS FINE ART NOLDE, EMIL Junges Paar (S. L52) 228,969 90,000 (138,969) 100.0% NARROWS FINE ART GIACOMETTI, ALBERTO Jean-Paul Sartre 385,988 250,000 (135,988) 100.0% NARROWS FINE ART WESSELMANN, TOM Nude with Floral All (Large Black) 385,000 250,000 (135,000) 100.0% NARROWS FINE ART ENSOR. JAMES Alimentation doctrinaire - Doctrinal Nourishm€ 248,235 114,000 (134,235) 100.0% NARROWS FINE ART BECKMANN, MAX Bei der Toilette (At the Toilette) (H. 261 B; GI. 150.000 20,000 (130,000) 100.0% APO 2 (B FAM 1! FINE ART BRESDIN, RODOLPHE The Exterior of an Inn (L'Auberge Normande) 168.368 40,000 (128,368) 100.0% NARROWS FINE ART CASTELLANI, ENRICO Superficie bianca 402,315 275,000 (127,315) 100.0% NARROWS FINE ART CHASSERIAU, THEODORE Recto: Portrait of a Little Couloughi 249,022 125,000 (124,022) 100.0% NARROWS FINE ART KLEE, PAUL Weib and Tier - Inv. 1 (Kornfeld, no.13) 273.102 150,000 (123,102) 100.0% NARROWS FINE ART BRAQUE, GEORGES La table (Still Life with a Fan)t (50% interest) 2,871,938 2,750,000 (121,938) MoMA 50.0% NARROWS FINE ART KLIMT. GUSTAV Reclining Woman to the Right 570,692 450,000 (120,692) 100.0% APO 2 (B FAM 1! FINE ART GROTJAHN. MARK Untitled (Solid Cream Butterfly Drawing in Tw,318,459 200,000 (118,459) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN Christ Crucified Between Two Thieves (The T 1,517,250 1,400,000 (117,250) 100.0% APO 1 (BLACK 2 FINE ART BARBIERI, GIANVANNI FR, Reclining Nude Youth seen from behind 1.434.450 1,318,000 (116,450) 100.0% NARROWS FINE ART DELACROIX, EUGENE Mari4e juive a Tanger 1.115.000 1,000,000 (115,000) 100.0% NARROWS FINE ART WRIGHT OF DERBY, JOSE A Grotto in the Gulf of Salerno. Morning and / 1.408.875 1,300,000 (108,875) 100.0% APO 2 (B FAM 1! FINE ART MATTA, ROBERTO Sans titre (Untitled) 233,006 125,000 (108,006) 100.0% NARROWS FINE ART FRA BARTOLOMMEO (BA( Studies of Heads: a double-sided drawing 2.107.894 2,000,000 (107,894) 100.0% NARROWS FINE ART GROSZ. GEORGE L'uomo nuovo 1.431.161 1,325,000 (106,161) 100.0% NARROWS FINE ART KLEE, PAUL Die Schlange 1.103.888 1,000,000 (103,888) 100.0% NARROWS FINE ART BAROCCI. FEDERICO Recto: Studies of Angels and Children's Heac 503,107 400,000 (103,107) 100.0% APO 2 (B FAM 1! FINE ART KLEE, PAUL Drei sanfte Narrenworte (three gentle words c 501,914 400,000 (101,914) 100.0% NARROWS FINE ART KLEE, PAUL Chinesisch II 1,300,500 1,200,000 (100,500) 100.0% NARROWS FINE ART MATISSE, HENRI Autoportrait 270,625 175,000 (95,625) 100.0% Page 5 of 26 EFTA01154358 ART INVENTORY - UNREALIZED JULY 2014 Total Paid (in Fair Value (°/* Ownership) or Cost (if not on Unrealized IF PROMISED (PLEDGED) GIFT, NAME OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART KLIMT, GUSTAV Reclining Woman with Bent Arms 345,419 250,000 (95,419) 100.0% NARROWS FINE ART TURNER. R.A., JOSEPH M, Kilgarren Castle, Pembrokeshire 693.875 600,000 (93,875) 100.0% NARROWS FINE ART SERRA, RICHARD Transparency #3, 2012 193.569 100,000 (93,569) 100.0% NARROWS FINE ART DURER, ALBRECHT Adam and Eve (Bartsch 1; Meder state Ila of 1.192.125 1,100,000 (92,125) 100.0% NARROWS FINE ART SERRA, RICHARD Transparency #2, 2012 191.529 100,000 (91,529) 100.0% NARROWS FINE ART PICASSO, PABLO Etude de personnages .291.000 1,200,000 (91,000) 100.0% NARROWS FINE ART ENSOR, JAMES Self Portrait 489,938 400,000 (89,938) 100.0% NARROWS FINE ART GERICAULT, THEODORE Untitled (Leda and the Swan) ,088,750 1,000,000 (88,750) 100.0% NARROWS FINE ART DORER, ALBRECHT Saint Anthony Reading 420,802 336,500 (84,302) 100.0% NARROWS FINE ART REDON, ODILON After Edgar A. Poe (Mellerio 37-43) 162,375 80,000 (82,375) 100.0% NARROWS FINE ART BOUCHER. FRANOOIS Sheet of Studies of a Turbanned Head, a Foo 847,857 770,000 (77,857) 100.0% APO 2 (B FAM 1! FINE ART PIRANESI, GIOVANNI View of a Street with Shops (Veduta Interne d 977,625 900,000 (77,625) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE-Mere et enfant (Esquisse de le Martyre de Sa 200,263 125,000 (75,263) 100.0% NARROWS FINE ART SEURAT, GEORGES Cavalier sur une route ,575,214 1,500,000 (75,214) 100.0% NARROWS FINE ART LONG, RICHARD Sun Line 325,125 250,000 (75,125) 100.0% NARROWS FINE ART LONG, RICHARD Cornish Slate Cross 325,125 250,000 (75,125) 100.0% APO 2 (B FAM 1! FINE ART COURBET, GUSTAVE Portrait de Francois Sabatier 133,437 60,000 (73,437) 100.0% NARROWS FINE ART DENIS. MAURICE Jeunes filles cueillant des fleurs devant la me 572.400 500,000 (72,400) 100.0% NARROWS FINE ART FOSSE, CHARLES DE LA A mounted soldier, seen from behind 429,829 360,000 (69,829) 100.0% NARROWS FINE ART KELLY, ELLSWORTH Brushstrokes Cut into Thirty-five Squares and 293,962 225,000 (68,962) 100.0% NARROWS FINE ART PIRANESI, GIOVANNI An Architectural Fantasy with a Colossal Obe 867.000 800,000 (67,000) 100.0% NARROWS FINE ART DAUMIER, HONORE L'amateur d'estampes 315,498 250,000 (65,498) 100.0% APO 2 (B FAM 1! FINE ART GROSZ. GEORGE Kaffeehausszene (Eigenbrodelei) (Scene in a 130.000 65,000 (65,000) 100.0% APO 2 (B FAM 1! FINE ART PICASSO, PABLO Nue Endormie 13.065.000 13,000,000 (65,000) 100.0% NARROWS FINE ART BELLOWS, GEORGE WES Dempsey and Firpo (M. 181) 127,735 65,000 (62,735) 100.0% NARROWS FINE ART KHNOPFF. FERNAND De animalite 121,781 60,000 (61,781) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Kopf Ludwig Schames (D.H 330) 100,000 40,000 (60,000) 100.0% NARROWS FINE ART NOLDE, EMIL Junges Paar (S.L52) 150,000 90,000 (60,000) 100.0% APO 2 (B FAM 1! FINE ART BRUEGHEL THE ELDER, F Wooded Landscape with Travellers on a path 10.559,786 10,500,000 (59,786) 100.0% Page 6 of 26 EFTA01154359 ART INVENTORY - UNREALIZED Owner OBJECT TYPE Artist JULY 2014 Total Paid (in Item Description 1 USD) Fair Value (°/0 Ownership) or Cost (if not on Appraisal) Unrealized Gain (Loss) IF PROMISED (PLEDGED) GIFT, NAME OF DONEE INSTITUTION OWNERSHIP LDB RARE BOOK LENNON. JOHN Autograph manuscript of John Lennon's lyrics 1,309,222 1,250,000 (59,222) 100.0% NARROWS FINE ART NOLDE, EMIL Junges Paar (S.L52) 233,658 175,000 (58,658) 100.0% APO 2 (B FAM 1! FINE ART DELAUNAY, ROBERT Tour Eiffel 233,544 175,000 (58,544) 100.0% NARROWS FINE ART MULTIPLE ARTISTS A Selection of Early German Prints 707,688 650,000 (57,688) 100.0% NARROWS FINE ART DAVID, JACQUES-LOUIS Portrait of a Revolutionary in Profile Facing LE 255,000 200,000 (55,000) 100.0% NARROWS FINE ART FRAGONARD, JEAN-HON( Landscape with a Double Flight of Steps and 654,913 600,000 (54,913) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN The Three Trees (Bartsch 212: White/Boon, c 704,438 650,000 (54,438) 100.0% NARROWS FINE ART VASARI. GIORGIO Christ Giving Saint Peter the Keys (Le Christ 588,621 535,000 (53,621) 100.0% NARROWS FINE ART FRIEDRICH. CASPAR DAV Das grosse gehege 1,302,828 1,250,000 (52,828) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN A Vagrant Couple with a Dog 672,792 620,000 (52,792) 100.0% NARROWS FINE ART BRUEGHEL THE ELDER, F The Rabbit Hunt 677,344 625,000 (52,344) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Virgil Reading the Aeneid to Augustus, Livia, 650,250 600,000 (50,250) Met 40.0% NARROWS FINE ART BEARDSLEY. AUBREY VIN The Achieving of the Sangreal 175.000 125,000 (50,000) 100.0% NARROWS FINE ART COROT. JEAN-BAPTISTE-t Rome, La Vasque de la Villa Medici 550.000 500,000 (50,000) 100.0% APO 2 (B FAM 1! FINE ART FRAGONARD, JEAN-HON( Les jardins de la villa d'Este 1,249,504 1,200,000 (49,504) 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Pair of Lamps Decorated with Owl and Cup 165,622 120,000 (45,622) 100.0% NARROWS FINE ART BECKMANN, MAX Selbstbildnis mit Steifem Hut (H.180; GL.157; 120,000 75,000 (45,000) 100.0% NARROWS FINE ART REMBRANDT VAN RIJN Landscape with Three Gabled Cottages Besic 544.375 500,000 (44,375) 100.0% NARROWS FINE ART WATTEAU, JEAN-ANTOINI Untitled (Cottage) (Landscape after Campagr 544.375 500,000 (44,375) 100.0% NARROWS FINE ART DUTCH AND FLEMISH, 16* Group of prints including examples by Lucas 544.375 500,000 (44,375) 100.0% NARROWS FINE ART EARLY ITALIAN AND SPAN Group of prints including The Campagnola 544.375 500,000 (44,375) 100.0% NARROWS FINE ART BURNE-JONES, EDWARD Sir Galahad 243,563 200,000 (43,563) 100.0% NARROWS FINE ART NOLDE, EMIL Segelboat (S.H.37) 58,500 15,000 (43,500) 100.0% NARROWS FINE ART KLEE, PAUL Charme (Weiblich Anmut) Invention no. 5 (K: 103,431 60,000 (43,431) 100.0% NARROWS FINE ART ENSOR, JAMES La Vengeance de Hop Frog (Hop Frog's Rev€ 113,310 70,000 (43,310) 100.0% APO 2 (B FAM 1! FINE ART REDON, ODILON L'Araigne - The Spider 168,016 125,000 (43,016) 100.0% NARROWS FINE ART CARRACCI, ANNIBALE Return of the Prodigal Son 342.073 300,000 (42,073) 100.0% NARROWS FINE ART GREUZE, JEAN-BAPTISTE Portrait of a Young Gentleman 456,152 415,000 (41,152) 100.0% NARROWS FINE ART DAVID. JACQUES-LOUIS The Ghost of Septimus Severus Appearing to 520,200 480,000 (40,200) 100.0% Page 7 of 26 EFTA01154360 ART INVENTORY - UNREALIZED JULY 2014 Total Paid (in Owner OBJECT TYPE Artist Item Description 1 USD) Fair Value (°/0 Ownership) or Cost (if not on Appraisal) Unrealized Gain (Loss) IF PROMISED (PLEDGED) GIFT, NAME OF DONEE INSTITUTION OWNERSHIP NARROWS FINE ART BOURDELLE. EMILE ANTC Penelope 60,000 20,000 (40,000) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Billiardspieler (ID. L290) 110,000 70,000 (40,000) 100.0% NARROWS FINE ART GAINSBOROUGH, THOMA Wooded Landscape with Figures Outside a C 189,438 150,000 (39,438) 100.0% APO 2 (B FAM 1! FINE ART RODIN, AUGUSTE Nude of a female ("Standing Nude") 164,375 125,000 (39,375) 100.0% NARROWS FINE ART SERRA, RICHARD Conrad 538,931 500,000 (38,931) 100.0% NARROWS FINE ART SERRA, RICHARD Olson 538,931 500,000 (38,931) 100.0% NARROWS FINE ART KLEE, PAUL Invention 8 - Perseus (Der Witz hat uber das 88,733 50,000 (38,733) 100.0% NARROWS FINE ART ALTDORFER, ALBRECHT A Landscape with Two Pine Trees in the Cen.588,621 550,000 (38,621) 100.0% NARROWS FINE ART GORKY, ARSHILE Nighttime, Enigma and Nostalgia 163,375 125,000 (38,375) 100.0% NARROWS FINE ART BELLOWS, GEORGE WES A Stag at Sharkey's (M.46) 133,688 100,000 (33,688) 100.0% NARROWS FINE ART DERAIN. ANDRE Figures in a Landscape 433,000 400,000 (33,000) 100.0% NARROWS FINE ART DUBUFFET, JEAN Table au couvert dresse 92,012 60,000 (32,012) 100.0% NARROWS FINE ART GIACOMETTI, ALBERTO Lampadaire a la tete de femme 131,662 100,000 (31,662) 100.0% APO 2 (B FAM 1!FINE ART KIRCHNER, ERNST LUDW Woman in a Room (Madchen im Raum)(Ema 231,563 200,000 (31,563) 100.0% NARROWS FINE ART BURNE-JONES. EDWARD The Wise and Foolish Virgins 805,600 775,000 (30,600) 100.0% NARROWS FINE ART MODIGLIANI, AMEDEO Caryatid, Frontal View, with Background, Han 380.188 350,000 (30,188) 100.0% NARROWS FINE ART DORER, ALBRECHT Coat of Arms with a Skull 368,542 338,500 (30,042) 100.0% NARROWS FINE ART MARIN, JOHN From Crotch Isle, Maine 60.000 30,000 (30,000) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Artistenkind-Marcella (Dube L. 136, I of II) 80.000 50,000 (30,000) 100.0% NARROWS FINE ART HUGO, VICTOR A Figure Passing in the Horizon, a Gothic Chi 154.319 125,000 (29,319) 100.0% NARROWS FINE ART DONGEN. KEES VAN Femme a sa toilette 54.000 25,000 (29,000) 100.0% NARROWS FINE ART POUSSIN, NICOLAS Phedre with Cupid and Pegasus 728,515 700,000 (28,515) 100.0% NARROWS FINE ART GIMHONGSOK Canine Construction 127,500 100,000 (27,500) 100.0% NARROWS FINE ART DEGAS, EDGAR Danseuse mettant son bas 277,500 250,000 (27,500) 100.0% NARROWS FINE ART REDON, ODILON Caliban 325,125 300,000 (25,125) 100.0% NARROWS FINE ART TWACHTMAN. JOHN HENI Irises 55.000 30,000 (25,000) 100.0% NARROWS FINE ART GERICAULT, THEODORE Recto: Deux totes d'orientaux (The Heads of 275,000 250,000 (25,000) Met 100.0% NARROWS FINE ART MOREAU. GUSTAVE Le jeune homme et la mort (Hommage a Cha 275,000 250,000 (25,000) 100.0% APO 1 (BLACK 2 FINE ART GERICAULT. JEAN-LOUIS-La Processacion A Silene 224,745 200,000 (24,745) 100.0% Page 8 of 26 EFTA01154361 ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART NOLDE, EMIL Calla and Sommerblumen 196,474 175,000 (21,474) 100.0% NARROWS FINE ART PIAZZETTA, GIAMBATTIS1 Standing Male Nude (recto), Seated Male Nu( 261,300 240,000 (21,300) 100.0% APO 2 (B FAM 1! FINE ART KIRCHNER, ERNST LUDW Die Siesta (The Siesta- Botho Graef and Hug. 60,206 40,000 (20,206) 100.0% NARROWS FINE ART BRESDIN, RODOLPHE A Battle Scene 100,131 80,000 (20,131) 100.0% NARROWS FINE ART BRESDIN, RODOLPHE A Lion Hunt 100,131 80,000 (20,131) 100.0% APO 2 (B FAM 1! FINE ART NOLDE, EMIL Der Prophet (The Prophet) 50,000 30,000 (20,000) 100.0% NARROWS FINE ART SERRA, RICHARD Solid No. 3 218,971 200,000 (18,971) 100.0% NARROWS FINE ART SERRA, RICHARD Solid No. 11 218,971 200,000 (18,971) 100.0% NARROWS FINE ART DIX, OTTO Mary 108,875 90,000 (18,875) 100.0% NARROWS FINE ART SERRA, RICHARD Solid No. 13 218,189 200,000 (18,189) 100.0% NARROWS FINE ART ENSOR, JAMES Mon atelier 34,100 16,000 (18,100) 100.0% NARROWS FINE ART CHIRINO, MARTIN Cabenza 25,000 7,000 (18,000) 100.0% NARROWS FINE ART JORDAENS. JACOB Study of a Man Seen from Behind 316,282 300,000 (16282) 100.0% NARROWS FINE ART MUNCH. EDVARD Vampyre (S.34; W.41) 265,776 250,000 (15,776) 100.0% NARROWS FINE ART KLEE, PAUL Der Held mit dem Flugel - Invention 2 (K.16) 115.584 100,000 (15,584) 100.0% NARROWS FINE ART GILLOT. CLAUDE Celebration en l'honneur du dieu Pan (Celebr. 215,390 200,000 (15,390) 100.0% NARROWS FINE ART ZHANG HUAN Handicraftsman (from the Memory Door serie 195,075 180,000 (15,075) 100.0% NARROWS FINE ART ZHANG HUAN Broomcorn Field (from the Memory Door serif 195,075 180,000 (15,075) 100.0% NARROWS FINE ART ZHANG HUAN Stairs (from the Memory Door series) 195,075 180,000 (15,075) 100.0% NARROWS FINE ART COROT. JEAN-BAPTISTE4 Vue de Volterra 85,000 70,000 (15,000) 100.0% NARROWS FINE ART BECKMANN, MAX Taubstumme 84,435 70,000 (14,435) 100.0% NARROWS FINE ART LONGHI, PIETRO Two Standing Women 174,200 160,000 (14,200) 100.0% NARROWS FINE ART KIRCHNER, ERNST LUDW Tanzerin mit gehobenem Rock (Dube W 141) 103,797 90,000 (13,797) 100.0% NARROWS FINE ART DORER, ALBRECHT The Four Horsemen (Bartsch 64; Meder 1671 373,642 360,000 (13,642) 100.0% NARROWS FINE ART DE SAINT-AUBIN, GABRIEI The Triumph of Pompeyt (50% interest) 212,462 200,000 (12,462) 50.0% NARROWS FINE ART DE SAINT-AUBIN. GABRIEI Victory of Tarquin over the Sabines and Etrus 27,156 15,000 (12,156) 100.0% NARROWS FINE ART KLEE, PAUL Greiser Phoenix - Inv. 9 (Kornfeld, 17) 131,493 120,000 (11,493) 100.0% NARROWS FINE ART INGRES, JEAN-AUGUSTE- Gabriel Cortois de Pressigny (Delteil 1 MO 16,898 6,000 (10,898) 100.0% NARROWS FINE ART BECKMANN, MAX Kasbek (H. 281; G. 245) 28,145 17,500 (10,645) 100.0% Page 9 of 26 EFTA01154362 ART INVENTORY - UNREALIZED JULY 2014 Total Paid (in Owner OBJECT TYPE Artist Item Description 1 USD) Fair Value (% Ownership) or Cost (if not on Appraisal) Unrealized Gain (Loss) IF PROMISED (PLEDGED) GIFT, NAME OF DONEE INSTITUTION OWNERSHIP APO 2 (B FAM 1! FINE ART KIRCHNER, ERNST LUDW Strassenszene (der omnibus) (Street Scene-t 60,206 50,000 (10,206) 100.0% NARROWS FINE ART ENSOR, JAMES La Belgique au XIXe siecle -- Belgium in the ) 124,117 114,000 (10,117) 100.0% NARROWS FINE ART MANET. EDOUARD Apres le bain t (Leaving the Bath) (Seated B 210,000 200,000 (10,000) Met 100.0% NARROWS FINE ART SEURAT, GEORGES Arbres et bateaux 1,760,000 1,750,000 (10,000) 100.0% NARROWS FINE ART VUILLARD, EDOUARD Le Mannequin 59,538 50,000 (9,538) 100.0% NARROWS FINE ART ENSOR, JAMES Le Combat des pouilleux Desir et Rissole - th. 124,117 115,000 (9,117) 100.0% NARROWS FINE ART ENSOR. JAMES Les Bains d'Ostende - The Baths at Ostend (' 124,117 115,000 (9,117) 100.0% NARROWS FINE ART BRESDIN, RODOLPHE Le Bon Samaritain (Neuman 49; Van Gelder 88,568 80,000 (8,568) 100.0% NARROWS FINE ART MILLET, JEAN-FRANCOIS Sleeping Nude 283,075 275,000 (8,075) 100.0% NARROWS FINE ART VON MENZEL, ADOLPH Christmas Eve 108,000 100,000 (8,000) 100.0% NARROWS FINE ART MUNCH. EDVARD Eifursucht (grosse Fassung) (S. 58; W.69) 47,500 40,000 (7,500) 100.0% NARROWS FINE ART BALDUNG. HANS Group of Seven Horses (Bartsch 56; Hollsteii 186,821 180,000 (6,821) 100.0% NARROWS FINE ART ROSSETTI, DANTE GABRI Studies for the Head of the Farmer in 'Found' 31,427 25,000 (6,427) 100.0% APO 2 (B FAM 1!FINE ART KLEE, PAUL Jungfrau im Baum (Kornfeld. no. 4) 156,060 150,000 (6,060) 100.0% NARROWS FINE ART RANSON, PAUL ELIE Jeune femme a sa toilette 18,000 12,500 (5,500) 100.0% APO 1 (BLACK 2 FINE ART MALEVICH, KAZIMIR Composition in Dissolution:Composition 10a 25,000 20,000 (5,000) 100.0% NARROWS FINE ART BARYE, ANTOINE -LOUIS Cheval Turc 30,000 25,000 (5,000) 100.0% NARROWS FINE ART BONNARD, PIERRE Nu a la baignoire 55,000 50,000 (5,000) 100.0% NARROWS FINE ART BRESDIN, RODOLPHE Paysan au pied d'un arbre 64,950 60,000 (4,950) 100.0% NARROWS FINE ART GORKY, ARSHILE Study for Slue Figure in Chair' (Study after Pi 64,950 60,000 (4,950) 100.0% NARROWS FINE ART GORKY, ARSHILE Study for 'Blue Figure in Chair' (Study after Pi 64,950 60,000 (4,950) 100.0% NARROWS FINE ART FRAGONARD, JEAN-HON( The Reading (La Lecture) 654,913 650,000 (4,913) 100.0% NARROWS FINE ART ERNST, AFTER MAX The Ocean (S./L. A3) 5,400 500 (4,900) 100.0% NARROWS FINE ART BAKST. LEON Costume Design For A Young Hindu Prince ft33,983 30,000 (3,983) 100.0% NARROWS FINE ART BAKST. LEON Costume Design For The Priest Soma From t 33,983 30,000 (3,983) 100.0% NARROWS FINE ART KURTEN, STEFAN Northern Sky (Everybody's Happy Nowadays) 15,938 12,000 (3,938) 100.0% NARROWS FINE ART CAVALLON, GIORGIO Untitled 7,794 4,000 (3,794) 100.0% NARROWS FINE ART CAVALLON, GIORGIO Untitled 7,794 4,000 (3,794) 100.0% NARROWS FINE ART CAVALLON, GIORGIO Untitled 7,794 4,000 (3,794) 100.0% Page 10 of 26 EFTA01154363 ART INVENTORY - UNREALIZED Owner OBJECT TYPE Artist JULY 2014 Total Paid (in Item Description 1 USD) Fair Value (°/0 Ownership) or Cost (if not on Appraisal) IF PROMISED (PLEDGED) GIFT, NAME Unrealized OF DONEE Gain (Loss) INSTITUTION OWNERSHIP NARROWS FINE ART BERNINI, GIAN LORENZO Portrait of Offaviano Castelli 253,679 250,000 (3,679) 100.0% NARROWS FINE ART ROMANO, GIULIO Satyr Crowned with Vine Leaves 252,514 250,000 (2,514) 100.0% NARROWS FINE ART AVERY, MILTON Seven Palms 7,000 5,000 (2,000) 100.0% NARROWS FINE ART AVERY, MILTON Birds and Sea (L. 60) 4,330 2,500 (1,830) 100.0% NARROWS FINE ART MARSH, REGINALD Does Your Nose Clog Up Al 5,000 4,000 (1,000) 100.0% NARROWS FINE ART REDON, ODILON Poemes 2,722 2,000 (722) 100.0% NARROWS FINE ART DERAIN. ANDRE Profil de femme (Profile of a Woman) 5,500 5,000 (500) 100.0% NARROWS FINE ART CHIRINO, MARTIN Espiral 7,307 7,000 (307) 100.0% APO 1 (BLACK 2 FINE ART DORER, ALBRECHT Hierinn sind begriffen vier blicher von mensct 141,265 141,265 100.0% APO 1 (BLACK 2 FINE ART PICASSO, PABLO Head of a Woman (Fernande) 7,500,000 7,500,000 100.0% APO 1 (BLACK 2 FINE ART REDON, ODILON A Edgar Poe (Mellerio 37-43) 213,123 213,123 100.0% APO 1 (BLACK 2 FINE ART SCHLEMMER, OSKAR Three by the Banister 1,224,844 1,224,844 100.0% APO 2 (B FAM 1!AFRICAN/ ASIANCAMBODIA, KHMER Shiva and Durga 1,300,500 1,300,500 100.0% APO 2 (B FAM 1!CHINESE BRON DAIGOU Gold Silver and Jade 255,278 255,278 100.0% APO 2 (B FAM 1! FINE ART DE WAAL. EDMUND the city & desire 146,981 146,981 100.0% APO 2 (B FAM 1! RARE BOOK ERASMUS. DESIDERIOS The Praise of Folly (Moriae encomium) (1511 375,000 375,000 100.0% APO 2 (B FAM 1!CHINESE BRON FANGYI Archaic Bronze Vessel 1,772,550 1,772,550 100.0% APO 2 (B FAM 1! FINE ART GERICAULT, THEODORE Lion Devouring a Horse 402,838 402,838 100.0% APO 2 (B FAM 1! FINE ART GIACOMETTI, ALBERTO Le Vide-poches (Pocket Tray) 4,572,750 4,572,750 100.0% APO 2 (B FAM 1! RARE BOOK HOMER [Opera), in Greek (1488) 225,000 225,000 100.0% APO 2 (B FAM 1! FINE ART JOHNS, JASPER Regrets 39,086 39,086 100.0% APO 2 (B FAM 1! FINE ART JOHNS, JASPER Regrets 39,086 39,086 100.0% APO 2 (B FAM 1! FINE ART PENONE, GIUSEPPE Tra scorza e scorza / Between Bark and Bark 2,612,151 2,612,151 100.0% APO 2 (B FAM 1! FINE ART REDON, ODILON Les Epines rouges 1,306,500 1,306,500 100.0% APO 2 (B FAM 1! FINE ART RUNGE, PHILIPP OTTO The Four Times of the Day ("Morgen, Tag, At 419,169 419,169 100.0% APO 2 (B FAM 1! FINE ART RYMAN, ROBERT Version X 1,415,375 1,415,375 100.0% APO 2 (B FAM 1! RARE BOOK VARIOUS AUTHORS Various Rare Books 2,460,000 2,460,000 100.0% APO 2 (B FAM 1! FINE ART VASARI. GIORGIO Saint Eustache 342,956 342,956 100.0% APO 2 (B FAM 1!CHINESE BRON WESTERN ZHOU Zun Bird-Shaped Bronze Vessel 3,006,098 3,006,098 100.0% Page 11 of 26 EFTA01154364 ART INVENTORY - UNREALIZED Owner OBJECT TYPE Artist JULY 2014 Total Paid (in Item Description 1 USD) Fair Value IF PROMISED (% (PLEDGED) Ownership) or GIFT, NAME Cost (if not on Unrealized OF DONEE Appraisal) Gain (Loss) INSTITUTION OWNERSHIP APO 2 (B FAM 1! FINE ART VAN GOGH, VINCENT Carriere Pres de Saint-Remy 46,271,875 46,271,875 100.0% NARROWS FINE ART VUILLARD, EDOUARD La mannequin 55,000 55,000 100.0% NARROWS FINE ART KELLY, ELLSWORTH Diagonal with Curve XVI 1,665,788 1,665,788 100.0% NARROWS FINE ART MASTER L. CZ. Untitled 381,063 381,063 100.0% NARROWS AFRICAN/ ASIAN IVORY COAST Baoule Mask Masque-heaume 'goli glin' 1,573,244 1,573,244 100.0% NARROWS AFRICAN/ ASIAN CAMBODIA (OR KORAT - E Standing Figure of Shiva 7,000,000 7,000,000 100.0% NARROWS FINE ART AVERY, MILTON Mottled Hills 29,227 29,227 100.0% NARROWS FINE ART BRANDT, WARREN Treasure Chest 16,667 16,667 100.0% NARROWS FINE ART BRANDT, WARREN Pink Roses 10,667 10,667 100.0% NARROWS FINE ART BRANDT, WARREN Western Union 2,667 2,667 100.0% NARROWS FINE ART CRAWFORD, ELIZABETH The Great Game 920 920 100.0% NARROWS FINE ART DERAKSHANI, REZA Dark Soil I (from Sand Painting series) 10,875 10,875 100.0% NARROWS FINE ART DERAKSHANI, REZA Dark Soil II (from Sand Painting series) 10,875 10,875 100.0% NARROWS FINE ART DERAKSHANI, REZA Dark Soil III (from Sand Painting series) 10,875 10,875 100.0% NARROWS FINE ART DERAKSHANI, REZA Dark Soil IV (from Sand Painting series) 10,875 10,875 100.0% NARROWS FINE ART DERAKSHANI, REZA Dark Soil V (from Sand Painting series) 10,875 10,875 100.0% NARROWS FINE ART ENSOR, JAMES Mon Pere mon - My dead father 97,988 97,988 100.0% NARROWS FINE ART ERNST, JIMMY Untitled 8,100 8,100 100.0% NARROWS FINE ART ENSOR, JAMES Isectes singuliers (Strange insects) 12,003 12,003 100.0% NARROWS FINE ART ENSOR, JAMES Diables rosant Anges e Archanges (Devils thr 155,212 155,212 100.0% NARROWS FINE ART ENSOR, JAMES Le Christ Aux Enfers (Christ in Embers) 65,987 65,987 100.0% NARROWS FINE ART KAHN, WOLF Late Fall in CT. 19,017 19,017 100.0% NARROWS FINE ART KAHN, WOLF Toward Blue Woods 4,384 4,384 100.0% NARROWS FINE ART LEE, JENNY Half-Note No. 8 3,410 3,410 100.0% NARROWS FINE ART LEIGHTON, FREDERIC LO Studies of male figures in medieval dress for' 7,400 7,400 100.0% NARROWS FINE ART LIN, MAYA Wire Landscape 27,156 27,156 100.0% NARROWS FINE ART MASTER E. S. The Virgin with the Rosary on the Crescent 190,531 190,531 100.0% NARROWS FINE ART MATISSE, HENRI Etude d'odalisque 54,125 54,125 100.0% NARROWS FINE ART MILLER, HENRY Love and Other Crimes 21,400 21,400 100.0% Page 12 of 26 EFTA01154365 ART INVENTORY - UNREALIZED Owner OBJECT TYPE Artist JULY 2014 Total Paid (in Item Description 1 USD) Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Cost (if not on Unrealized OF DONEE Appraisal) Gain (Loss) INSTITUTION OWNERSHIP NARROWS FINE ART OPPER. JOHN Untitled 12,990 12,990 100.0% NARROWS FINE ART OAKES, TREVOR & RYAN Have No Narrow Perspectives: The Bean 182,366 182,366 100.0% NARROWS FINE ART PARDO. JORGE Untitled 117,585 117,585 100.0% NARROWS FINE ART PICASSO, PABLO Femme assise dans un fauteuil 721,875 721,875 100.0% NARROWS FINE ART PETERDI, GABOR Big Blue Eclipse 3,458 3,458 100.0% NARROWS FINE ART RIBOT, THEODULE AUGLft Les eplucheuses de pommes de terre 65,175 65,175 100.0% NARROWS FINE ART SIGNAC, PAUL La Rochelle 42,900 42,900 100.0% NARROWS FINE ART SCHIELE, EGON Self-Portrait 20,000 20,000 100.0% NARROWS FINE ART SCHWARTZ, ADAM Drive Shaft 7,000 7,000 100.0% NARROWS FINE ART SCHWARTZ. ADAM Bomb Mill 6,500 6,500 100.0% NARROWS FINE ART SAUNDERS, DAVID The Afterlife of Things 5,400 5,400 100.0% NARROWS FINE ART SZTYBEL, PAMELA Housatonic II 15,173 15,173 100.0% NARROWS FINE ART SZTYBEL, PAMELA A few clouds and a dark pond (near Manches 27.156 27,156 100.0% NARROWS FINE ART SZTYBEL, PAMELA Two Ponds (Bridgewater, CT) 13,035 13,035 100.0% NARROWS FINE ART SZTYBEL, PAMELA Untitled 10,331 10,331 100.0% NARROWS FINE ART SZTYBEL, PAMELA Tree in a Field 7,069 7,069 100.0% NARROWS FINE ART SZTYBEL, PAMELA Rue de Courcelles (Mereville) 4,005 4,005 100.0% NARROWS FINE ART SZTYBEL, PAMELA Little River in France 3,464 3,464 100.0% NARROWS FINE ART THOMAS, GWENN Yellow and Black Colonnade: Ellis Island Seri 2,632 2,632 100.0% NARROWS FINE ART WELZ, REBECCA Threshold 4,896 4,896 100.0% NARROWS FINE ART ZIMMERMAN, ELYN Stalled Cairn 80,063 80,063 100.0% NARROWS FINE ART ZHANG HUAN Afar (Memory Door Series) 195,075 195,075 100.0% NARROWS FINE ART VIGEE LE BRUN, ELIZABE Autoporftait au chapeau a plume (Selfportrait 523,106 523,106 100.0% NARROWS FINE ART JOHNS, JASPER Untitled 734,906 734,906 100.0% NARROWS FINE ART JOHNS, JASPER Untitled 734,906 734,906 100.0% NARROWS FINE ART JOHNS, JASPER Untitled 734,906 734,906 100.0% NARROWS FINE ART STIMMER, TOBIAS Saul threatening David with a Spear 1.875.000 1,875,000 100.0% NARROWS FINE ART BECKMANN, MAX Fastnacht (H. 231; GI. 205; G. 201) 5,000 5,000 100.0% NARROWS FINE ART DELACROIX, EUGENE Rencontre de cavaliers Maures (D.23) 5,000 5,000 100.0% Page 13 of 26 EFTA01154366 ART INVENTORY - UNREALIZED JULY 2014 Total Paid (in Fair Value (°/0 Ownership) or Cost (if not on Unrealized IF PROMISED (PLEDGED) GIFT, NAME OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART VUILLARD, EDOUARD Le masseur 30,000 30,000 100.0% I I 0.. 0 01 0',O, 7I 30,000 NARROWS FINE ART RIVERA, DIEGO Cabeza de una Tehuana (Retrato de Juchitec 35,000 35,000 100.0% NARROWS FINE ART FUSELI. HENRY A Threatening Head 35,000 35,000 100.0% NARROWS FINE ART KIRCHNER. ERNST LUDW Liegende akt aut dem Sofa 70,000 70,000 100.0% NARROWS FINE ART TISSOT, JAMES La soeur ainee 125,000 125,000 100.0% NARROWS FINE ART REDON, ODILON Le Cerf Volant 200,000 200,000 100.0% NARROWS FINE ART ROBERT. HUBERT Escalier dans les jardins de la villa Famese a 353,943 353,943 100.0% NARROWS FINE ART VOUET, SIMON Portrait of a Woman with a Veil 400,000 400,000 100.0% APO 2 (B FAM 1I FINE ART FRA BARTOLOMMEO (BA( The Kneeling Magdalen. in profile to the left 1,150,000 1,150,000 100.0% NARROWS FINE ART DEGAS. EDGAR Femme au bain 2.000,000 2,000,000 100.0% LDB 2011 LLC FINE ART BLAKE. WILLIAM The Parable of the Wise and Foolish Virgins 2.500,000 2,500,000 100.0% NARROWS FINE ART GAUGUIN, PAUL The Artist's Portfolio, Pont Aven # (50% interE 724,000 724,000 Met 50.0% NARROWS FINE ART BRAQUE, GEORGES Homage to J.S. Bacht (48% interest) 13,005,000 13,005,000 MoMA 48.0% NARROWS FINE ART KAHN, WOLF Returning to Harbor (in Martha's Vineyard) 2250 2,500 250 100.0% NARROWS FINE ART DINE, JIM Self-portrait Head (Second State) (W.C. 160) 1200 1,500 300 100.0% NARROWS FINE ART KAHN, WOLF The Towpath 34,640 35,000 360 100.0% NARROWS FINE ART ELIZONDO, ARTURO Ardores clandestinos 3.897 4,500 603 100.0% NARROWS FINE ART DELACROIX, EUGENE Three Male Nudes 24,356 25,000 644 100.0% NARROWS FINE ART ROSSETTI, DANTE GABRI The Sun May Shine and We Be Cold 34.264 35,000 736 100.0% APO 1 (BLACK 2 FINE ART BAROCCI, FEDERICO Head of Young Girl 717,225 718,000 775 100.0% NARROWS FINE ART BECKMANN, MAX Vor dem Auftritt (Akrobaten) (H. 289; G. 250) 3,150 4,000 850 100.0% NARROWS FINE ART MARSH, REGINALD Woman Walking 5.000 6,000 1,000 100.0% NARROWS FINE ART BECKMANN, MAX In der Trambahn (H. 235; GI. 209; G. 205) 5.000 6,000 1,000 100.0% NARROWS FINE ART DIX. OTTO Bautzen VI 14,400 15,500 1,100 100.0% NARROWS FINE ART VON STUCK, FRANZ Steam Power 6,503 8,000 1,498 100.0% APO 2 (B FAM 1I FINE ART BLAKE, WILLIAM Christ the Mediator (Christ pleading before thi 998,415 1,000,000 1,585 100.0% NARROWS FINE ART KAHN, WOLF Evening Light 5,359 7,000 1,641 100.0% NARROWS FINE ART AVERY, MILTON Two Nudes 1.500 4,000 2,500 100.0% Page 14 of 26 EFTA01154367 ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (°/0 (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost Of not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART AVERY, MILTON Nude Meditating 1,200 4,000 2,800 100.0% NARROWS FINE ART KAHN, WOLF Barn in Fog 1,200 4,000 2,800 100.0% NARROWS FINE ART DERAIN. ANDRE Femme nue 2,000 5,000 3,000 100.0% NARROWS FINE ART ENSOR, JAMES Le combat des demons (Diables rossant angc 2,000 5,000 3,000 100.0% NARROWS FINE ART PICASSO, PABLO Deux femmes batifolant sur un matelas de pli 3,000 6,000 3,000 100.0% NARROWS FINE ART BECKMANN, MAX Schlangendame (H. 200; GI. 175; G. 172) 5,000 8,000 3,000 100.0% NARROWS FINE ART DORER, ALBRECHT Nemesis (The Great Fortune) (Bartsch 77; Mc 246,970 250,000 3,030 100.0% NARROWS FINE ART AVERY, MILTON Head of a Man (L. 8) 250 3,500 3,250 100.0% CHILDREN FINE ART ILLUSTRATION FROM API Shiraz School 1.200 5,000 3,800 100.0% NARROWS FINE ART BONHEUR. ROSA Study for 'The Horse Fair' 8,660 12,500 3,840 100.0% CHILDREN FINE ART ILLUSTRATION FROM API Persian School 4,000 4,000 100.0% NARROWS FINE ART BELLOWS, GEORGE WES The Pool-Player (M. 83; B.58) 3.500 8,000 4,500 100.0% NARROWS FINE ART DROUAIS. JEAN-GERMAIN Marius a Mintumes 45,325 50,000 4,675 100.0% NARROWS FINE ART BERNARD, EMILE Two Women 2,000 7,000 5,000 100.0% NARROWS FINE ART PASCIN, JULES Turkish Dancers 3,000 8,000 5,000 100.0% NARROWS FINE ART BARYE, ANTOINE -LOUIS Lion-stalking 5,000 10,000 5,000 100.0% NARROWS FINE ART BARYE, ANTOINE -LOUIS Tigre qui marche 5,000 10,000 5,000 100.0% NARROWS FINE ART GRAHAM, JOHN Horse and Rider 5,000 10,000 5,000 100.0% NARROWS FINE ART BARYE, ANTOINE -LOUIS Lion qui marche 5,000 10,000 5,000 100.0% NARROWS FINE ART CHIRINO, MARTIN Oology 7,000 12,000 5,000 100.0% NARROWS FINE ART MAILLOL, ARISTIDE Nude Seen from Behind 20,000 25,000 5,000 100.0% NARROWS FINE ART SCHWITTERS, KURT Kurt Schwitters: Schriftstellar 220,000 225,000 5,000 100.0% APO 2 (B FAM 1! FINE ART PICASSO, PABLO The Three Graces 244,969 250,000 5,031 100.0% NARROWS FINE ART RICHMOND, WILLIAM BLA Portrait 12,222 17,500 5,278 100.0% NARROWS FINE ART AVERY, MILTON Striped Drape 2,200 7,500 5,300 100.0% CHILDREN FINE ART BASKIN. LEONARD Seated Birdman 6,000 6,000 100.0% NARROWS FINE ART MAILLOL, ARISTIDE Esquisse pour 'Le Mediterranee' 19,000 25,000 6,000 100.0% APO 2 (B FAM 1! FINE ART KLEE, PAUL Drohendes Haupt 68,987 75,000 6,013 100.0% NARROWS FINE ART GORMLEY. ANTONY Sense 2,653 9,000 6,347 100.0% Page 15 of 26 EFTA01154368 ART INVENTORY - UNREALIZED JULY 2014 Total Paid (in Owner OBJECT TYPE Artist Item Description 1 USD) Fair Value (°/0 Ownership) or Cost (if not on Appraisal) Unrealized Gain (Loss) IF PROMISED (PLEDGED) GIFT, NAME OF DONEE INSTITUTION OWNERSHIP NARROWS FINE ART GORMLEY, ANTONY Home of the Heart IV 2,653 9,000 6,347 100.0% NARROWS FINE ART GORMLEY, ANTONY Base 2,653 9,000 6,347 100.0% NARROWS FINE ART CLEMENTE. FRANCESCO Untitled (Jamaican Watercolor) 43,400 50,000 6,600 100.0% NARROWS FINE ART DORER, ALBRECHT Knight, Death and the Devil (Bartsch 98; Med 592,727 600,000 7273 100.0% NARROWS FINE ART ENSOR, JAMES La puce 52,500 60,000 7,500 100.0% APO 2 (B FAM 1! FINE ART KIRCHNER, ERNST LUDW Stehender Madchenakt mit verschrankten Arr 52,260 60,000 7,740 100.0% NARROWS FINE ART BOLOTOWSKY, ILYA Untitled 1,500 10,000 8,500 100.0% NARROWS FINE ART ROUSSEL. KER-XAVIER La Ciotat 5,000 14,000 9,000 100.0% NARROWS FINE ART RUSKIN, JOHN Spur of Piazetta Shaft, Venice 6,504 16,000 9,496 100.0% NARROWS FINE ART CONSTABLE, JOHN A View in Borrowdale 70,363 80,000 9,638 100.0% NARROWS FINE ART DORER, ALBRECHT Melancolia I (Bartsch 74; Meder 75 Ila; Scher 790,303 800,000 9,697 100.0% NARROWS FINE ART MATISSE, HENRI Femme nue debout 60,000 70,000 10,000 100.0% NARROWS FINE ART BONNARD. PIERRE Nature morte aux fruits 70,000 80,000 10,000 100.0% NARROWS FINE ART DAVID. JACQUES-LOUIS Paris and Helen 459,960 470,000 10,040 100.0% NARROWS FINE ART NOLDE, EMIL Salamo and Seine Frauen (S.R. 153) 4,500 15,000 10,500 100.0% APO 2 (B FAM 1! FINE ART SCHLEMMER, OSKAR Rote Lieber 2,687,700 2,700,000 12,300 100.0% NARROWS FINE ART PUVIS DE CHAVANNES, P Reclining Female Nude with Drapery 5,000 17,500 12,500 100.0% NARROWS FINE ART CALLOT, JACQUES Louis de Lorraine-guise, Prince de Phalsboun 287,390 300,000 12,610 Met 50.0% NARROWS FINE ART ISABEY. JEAN-BAPTISTE Portrait de Talleyrand 7,000 20,000 13,000 100.0% APO 2 (B FAM 1! FINE ART PICASSO, PABLO Etude pour 'La Couiffure' 636,633 650,000 13,367 100.0% NARROWS FINE ART DELACROIX, EUGENE Cavalier mamelouk au galop 161,500 175,000 13,500 100.0% NARROWS FINE ART BONINGTON, RICHARD Pi Landscape with Harvesters at Sunset 135,313 150,000 14,688 100.0% CHILDREN FINE ART BOLOTOWSKY, ILYA Double Column 15,000 15,000 100.0% NARROWS FINE ART BARYE, ANTOINE -LOUIS Guerrier tartare arretant son cheval 10,000 25,000 15,000 100.0% NARROWS FINE ART BARYE, ANTOINE -LOUIS The's4e combattant le Centaur Bienor 10,000 25,000 15,000 100.0% NARROWS FINE ART DOVE, ARTHUR GARFIELE Untitled V (Centerport) 25,000 40,000 15,000 100.0% NARROWS FINE ART VUILLARD, EDOUARD La robe rose 110,000 125,000 15,000 100.0% NARROWS FINE ART BOURDELLE. EMILE ANTC Heracles Archer 110,000 125,000 15,000 100.0% NARROWS FINE ART BELLOWS, GEORGE WES Old Billiard Player (M. 84; B. 19) 2,500 18,000 15,500 100.0% Page 16 of 26 EFTA01154369 ART INVENTORY - UNREALIZED JULY 2014 Fair Value IF PROMISED (% (PLEDGED) Ownership) or GIFT, NAME Total Paid (in Cost (if not on Unrealized OF DONEE OWNERSHIP Owner OBJECT TYPE Artist Item Description 1 USD) Appraisal) Gain (Loss) INSTITUTION NARROWS FINE ART CEZANNE. PAUL Portrait du fits de l'artiste (recto) and Scene ill 783,009 800,000 16,991 100.0% APO 2 (B FAM 1! FINE ART HECKEL, ERICH Schlafender Matrose (Sleeping Sailor) 26,882 45,000 18,118 100.0% CHILDREN FINE ART BOLOTOWSKY, ILYA Untitled 20,000 20,000 100.0% NARROWS FINE ART DENIS, MAURICE Woman and Child 5,000 25,000 20,000 100.0% NARROWS FINE ART REDON, ODILON The Angel of Death 179,644 200,000 20,356 100.0% NARROWS FINE ART CONSTABLE, JOHN Cloud Study (recto)Suffolk Landscape with a 379,313 400,000 20,688 100.0% APO 2 (B FAM 1! FINE ART BECKMANN, MAX The Last duty of Perseus 127,947 150,000 22,053 100.0% NARROWS FINE ART QUINN, MARC The Blind Still Leading the Blind 37,897 60,000 22,103 100.0% NARROWS FINE ART HARTLEY. MARSDEN Twisted Roots (Tree study) 7,000 30,000 23,000 100.0% NARROWS FINE ART BEARDSLEY, AUBREY VIN Lady Gold's Escort (From The Yellow Book V 46,598 70,000 23,403 100.0% NARROWS FINE ART REDON, ODILON Sujet Allegorique (David et Goliath) 476,300 500,000 23,700 100.0% APO 2 (B FAM 1! FINE ART KLEE, PAUL Komiker - Inv. 4 (Kornfeld, no. 10) 75,259 100,000 24,741 100.0% NARROWS FINE ART REDON, ODILON Le cube (L'oeil) 325,125 350,000 24,875 100.0% NARROWS FINE ART BOTERO. FERNANDO El guitarrista 10,000 35,000 25,000 100.0% NARROWS FINE ART BECKMANN, MAX Kleines Rosenstilleben mit blauem Spiegel 325,000 350,000 25,000 100.0% NARROWS FINE ART DAUMIER, HONORE La defense 324,750 350,000 25,250 100.0% NARROWS FINE ART KHNOPFF, FERNAND Dessin 74,151 100,000 25,849 100.0% NARROWS FINE ART MATISSE, HENRI Autoportrait 270,625 300,000 29,375 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Lampe en forme bougeoir 35,000 35,000 100.0% NARROWS FINE ART GIACOMETTI, DIEGO Lampe en forme bougeoir 35,000 35,000 100.0% NARROWS FINE ART SMITH, DAVID Untitled 462,719 500,000 37,281 100.0% NARROWS FINE ART PICASSO, PABLO Bacchus et jeune femme nue 86,600 125,000 38,400 100.0% NARROWS FINE ART GONCHAROVA, NATALIA The