PowerPoint Presentation

Mark S. Weiss Executive Vice Chairman 1290 Avenue of the Americas New York, NY 10104 Direct +1 212 841 7871 Fax +1 212 729 2570 mark.weiss@cushwake.com cushmanwakefield.com

May 7, 2020

John P. Napoli, Esq. Lorie Almon, Esq. Seyfarth Shaw LLP 620 Eighth Avenue New York, NY 10018

Dear John and Lorie:

The following report, consistent with our earlier email, is intended to clarify where Seyfarth stands with its New York City leasehold obligation and how best to capitalize on the upcoming market weakness we envision in the context of your lease expiration (February 28, 2024). The report also examines the financial aspects of your occupancy from both your and your Landlord’s perspective. We also dedicated a portion of this report to the necessary steps required to adjust your tenancy to the new post-COVID realities of office space occupancy. We created this document as a guide to our kick-off meeting in which we can discuss what we know about your practice and your office space, but moreover learn more so that we can, along with you, define a goal and develop a strategy to achieve it. By developing this strategy up front, we will be far more prepared than Brookfield (or any other landlord) in order to drive the best possible outcome for Seyfarth.

Our report is broken down into the following sections.

Section 1: Section 2:

A Lease Abstract highlighting the major points in your lease.

A Financial Projection of your remaining obligation as well as a depiction of your Landlord’s financing. Please note that we introduced the metric of Effective Annual Cost Per Attorney (which can and should be considered at both current and full occupancy). We will discuss that concept further during our meeting and are certain you will find it enormously useful. Section 3: Cushman & Wakefield’s market forecast which draws from past pull-backs (2001 and 2008) but also factors in the very likely scenario where WeWork and other co-working companies either pull back materially or fail entirely.