Case KG Doc 390 Filed 04/13/18 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE. (Jointly Administered)

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1 Case KG Doc 390 Filed 04/13/18 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re Chapter 11 PES HOLDINGS, LLC, et al., 1 Debtors. Case No (KG) (Jointly Administered) SECOND MONTHLY FEE STATEMENT OF PJT PARTNERS LP AS INVESTMENT BANKER FOR ALLOWANCE OF COMPENSATION FOR NECESSARY SERVICES RENDERED AND FOR THE REIMBURSEMENT OF ALL ACTUAL AND NECESSARY EXPENSES INCURRED FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 SUMMARY SHEET Name of Applicant: Authorized to Provide Professional Services to: PJT Partners LP Debtors Date of Retention: Order entered on February 23, 2018 approving the retention of PJT Partners LP nunc pro tunc to January 21, 2018 [Docket No. 195] Period for which Compensation and Expense Reimbursement is sought: March 1, 2018 to March 31, 2018 Amount of Compensation sought Total Before Holdback 20%) as actual, reasonable, and necessary: $175, ($35,000.00) Amount of Cash Payment Sought: $140, This is a(n): x monthly interim final application 1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor's federal tax identification number, are: PES Holdings, LLC (8157); North Yard Financing, LLC (6284); North Yard GP, LLC (5458); North Yard Logistics, L.P. (952): PES Administrative Services_ LL,C (3022); PES Logistics GP, LLC (9202); PES Logistics Partners, L.P. (1288); PESRM Holdings, LLC (2107), aid Philadelphia Energy Solutions Refining and Marketing LLC (974). The debtors` service address is: 1735 Market Street. Philadelphia, Pennsylvania

2 Case KG Doc 390 Filed 04/13/18 Page 2 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re Chapter 11 PES HOLDINGS, LLC, et al., 1 Debtors. Case No (KG) (Jointly Administered) SECOND MONTHLY FEE STATEMENT OF PJT PARTNERS LP AS INVESTMENT BANKER FOR ALLOWANCE OF COMPENSATION FOR NECESSARY SERVICES RENDERED AND FOR THE REIMBURSEMENT OF ALL ACTUAL AND NECESSARY EXPENSES INCURRED FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 PJT Partners LP ( PJT ) respectfully represents as follows: I. Background 1. PJT is acting as investment banker to the above-captioned debtors and debtors-inpossession (collectively, the Debtors ). 2. On January 21, 2018 (the Petition Date ), the Debtors each filed voluntary petitions with this Court for reorganization relief under chapter 11 of title 11 of the United States Code (the Bankruptcy Code ). Subsequent to the Petition Date, the Debtors continued to operate their businesses as debtors-in-possession pursuant to 1107(a) and 1108 of the Bankruptcy Code. 3. On February 2, 2018, the Debtors filed the Debtors Application for Entry of an Order Authorizing the Employment and Retention of PJT Partners LP as an Investment Banker for the Debtors and Debtors in Possession, Effective Nunc Pro Tunc To The Petition Date, [Docket No. 146] (the Retention Application ), pursuant to which the Debtors sought authority 1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor's federal tax identification number, are: PES Holdings, LLC (8157); North Yard Financing, LLC (6284); North Yard GP, LLC (5458); North Yard Logistics, L.P. (952): PES Administrative Services_ LL,C (3022); PES Logistics GP, LLC (9202); PES Logistics Partners, L.P. (1288); PESRM Holdings, LLC (2107), aid Philadelphia Energy Solutions Refining and Marketing LLC (974). The debtors` service address is: 1735 Market Street. Philadelphia, Pennsylvania

3 Case KG Doc 390 Filed 04/13/18 Page 3 of 8 to retain and employ PJT as its investment banker pursuant to the terms of an engagement agreement dated August 9, 2017, as amended on January 18, 2018 (the Engagement Agreement ). A copy of the Engagement Agreement is attached to the Retention Application. 4. On February 23, 2018, this Court entered the Order Authorizing the Employment and Retention of PJT Partners LP as Investment Banker for the Debtors and Debtors In Possession, Effective Nunc Pro Tunc to the Petition Date [Docket No. 195] (the Retention Order ) approving the Retention Application and authorized the retention and employment of PJT nunc pro tunc to the Petition Date, pursuant to the terms of the Engagement Agreement. 5. On February 26, 2018, this Court entered the Order (I) Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Retained Professionals and (II) Granting Related Relief [Docket No. 216] (the Procedures Order ) establishing for interim compensation and reimbursement of expenses for Professionals. 6. PJT submits this second monthly fee statement (the Monthly Fee Statement ) requesting the allowance of PJT s monthly fee for investment banking services by it as investment banker to the Debtors for the period of March 1, 2018 through March 31, 2018 (the Second Compensation Period ). 7. Investment banking services for which compensation is sought were rendered on behalf of the Debtors pursuant to chapter 11 of the Bankruptcy Code. II. Services Provided by PJT during the Second Compensation Period 8. The nature of the work performed by PJT during the Second Compensation Period included the following: (a) conducting ongoing diligence with respect to the Debtors assets, operations, capital structure, and financial situation; (b) preparing presentations and analysis for management and the Board of Directors; 2

4 Case KG Doc 390 Filed 04/13/18 Page 4 of 8 (c) participating in scheduled weekly update calls with management and the Debtors other advisors; (d) preparing presentation materials related to the Debtor s intermediation facility; (e) assisting the Debtors in analysis related to settlement discussions with the Environmental Protection Agency; (f) providing the Debtors general advice regarding financial matters heard by the Court with respect to the confirmation hearing; and (g) preparing the Laurinaitis declaration and providing advice to the Debtors legal counsel. III. The PJT Team 9. The investment banking services set forth above were performed primarily by: Timothy Coleman, Partner; Peter Laurinaitis, Partner; Avram Robbins, Managing Director; Scott Meyerson, Associate; Zachary Dinan, Analyst; and other PJT professionals as needed. IV. PJT s Request for Compensation A. PJT s Monthly Fee Earned 10. For the Second Compensation Period, PJT seeks allowance of its monthly fee in the amount of $175, An invoice detailing the monthly fee earned by PJT during the Second Compensation Period is attached hereto as Appendix A. A summary of the monthly fee earned during the Second Compensation Period is outlined below: Fees, Less Second Compensation Period Monthly Fee 20% Holdbacks Amounts Due March 1 31, 2018 $175, ($35,000.00) $140, $140, PJT respectfully submits that the compensation requested for the investment banking services rendered by PJT to the Debtors during the Second Compensation Period is fully justified and reasonable based upon (a) the complexity of the issues presented, (b) the skill necessary to perform the investment banking services properly, (c) the preclusion of other employment, (d) 3

5 Case KG Doc 390 Filed 04/13/18 Page 5 of 8 the customary fees charged to clients in non-bankruptcy situations for similar services rendered, (e) time constraints required by the exigencies of the case, and (f) the experience, reputation and ability of the professionals rendering services. 13. PJT respectfully submits that the investment banking services it has rendered to the Debtors have been necessary and in the best interests of the Debtors and the estate. PJT respectfully submits that under the criteria normally examined in chapter 11 reorganization cases, the compensation requested by PJT is reasonable in light of the work performed by PJT to date in these cases. 14. The amount of the fees sought in this Monthly Fee Statement and PJT's billing practices are consistent with market practices in a bankruptcy context. PJT has never billed its clients based on the number of hours expended by its professionals. Accordingly, PJT does not have hourly rates for its professionals, and PJT s professionals generally do not maintain detailed time records of the work performed for its clients. However, PJT has maintained contemporaneous time records in the Debtors case in one-half hour increments. Time records of the hours expended by PJT professionals in providing investment banking services to the Debtors during the Second Compensation Period are provided below: Professional Title March 2018 Total Timothy Coleman Partner 9.5 Peter Laurinaitis Partner 37.5 Avram Robbins Managing Director 59.0 Scott Meyerson Associate 72.5 Zachary Dinan Analyst Total Hours Out-of-pocket expenses incurred by PJT are charged to a client if out-of-pocket expenses are incurred for the client or are otherwise necessary in connection with services rendered for such particular client. PJT does not factor general overhead expenses into any disbursements charged to its clients in connection with chapter 11 cases. PJT has followed its 4

6 Case KG Doc 390 Filed 04/13/18 Page 6 of 8 general internal policies with respect to out-of-pocket expenses billed to the Debtors as set forth below, with any exceptions specifically explained. (a) All cross-country airfare charges are based upon coach class rates; (b) With respect to local travel, PJT s general policy enables employees to travel by taxi or, in certain circumstances, private car service to and from meetings while rendering services to a client on a client related matter, for which the client is charged. Further, and primarily for safety reasons, employees are permitted to charge to a client the cost of transportation home if an employee is required to work past 9:00 p.m. on client-specific matters; (c) PJT s general policy permits its professionals to charge in-office dinner meals 3 hours beyond their regularly scheduled workday if an employee is required to provide services to the client during such dinnertime, and to charge in-office meals on the weekend if an employee is required to provide services to a client on the weekend. (d) The External Research category of expenses includes charges from outside computer/electronic service companies that supply, for a fee, research and/or financial documents to PJT. The services provided by these companies primarily consist of the retrieval of financial documents from regulatory agencies and/or the retrieval of research that would not otherwise be available to PJT. The Internal Research category of expenses are the charges for time spent by PJT research staff in operating the computer/electronic terminals related to these computer/electronic service companies. (e) The Publishing Services category of expenses includes charges for the production of text-based publications such as research reports and presentations, and printing and binding services. 16. No prior application for the relief requested herein has been made. 17. All services for which PJT requests compensation were performed for and on behalf of the Debtors and not on behalf of any other person or stakeholder. 18. No agreement or understanding exists between PJT and any other entity for the sharing of compensation received or to be received for services rendered in or in connection with these proceedings. 5

7 Case KG Doc 390 Filed 04/13/18 Page 7 of 8 V. Certificate of Compliance and Waiver 20. Finally, the undersigned representative of PJT certifies that PJT has reviewed the requirements of rule of the Local Rules and that this Monthly Fee Statement substantially complies with that Local Rule. To the extent that this Monthly Fee Statement does not comply in all respects with the requirements of Local Rule , PJT believes that such deviations are not material and respectfully requests that any such requirement be waived. VI. Requested Relief WHEREFORE, PJT respectfully requests the Court to: (a) allow PJT s monthly fee in the amount of $175, for the Second Compensation Period; (b) authorize and direct the Debtors to pay PJT s allowed fees as follows: Monthly Fees $175, Less: 20% (35,000.00) Total Amount Due $140, (c) grant such other and further relief as this Court deems just and proper. 6

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9 Case KG Doc Filed 04/13/18 Page 1 of 4 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ) In re: ) Chapter 11 ) PES HOLDINGS, LLC, et al., 1 ) Case No (KG) ) Debtors. ) (Jointly Administered) ) Hearing Date: Scheduled Only If Necessary Objection Deadline: May 4, 2018 at 4:00 p.m. (prevailing Eastern time) NOTICE OF FILING OF FEE APPLICATION PLEASE TAKE NOTICE that PJT Partners LP ( PJT ), investment banker for PES Holdings, LLC and its debtor affiliates, as debtors and debtors in possession (collectively, the Debtors ), filed and served the Second Monthly Fee Statement of PJT Partners LP as Investment Banker for Allowance of Compensation for Necessary Services Rendered and for the Reimbursement of All Actual and Necessary Expenses Incurred for the Period of March 1, 2018 Through March 31, 2018 (the Application ) seeking compensation for the reasonable and necessary services rendered to the Debtors in the amount of $175,000.00, and reimbursement for actual and necessary expenses in the amount of $0.00 PLEASE TAKE FURTHER NOTICE that any objection or response to the Application must be made in writing, and be filed with the United States Bankruptcy Court for the District of Delaware (the Bankruptcy Court ), 824 North Market Street, 3 rd Floor, Wilmington, Delaware 19801, on or before May 4, 2018 at 4:00 p.m. prevailing Eastern time. 1 The Debtors in these chapter 11 cases, along with the last four digits of each Debtor s federal tax identification number, are: PES Holdings, LLC (8157); North Yard Financing, LLC (6284); North Yard GP, LLC (5458); North Yard Logistics, L.P. (5952); PES Administrative Services, LLC (3022); PES Logistics GP, LLC (9202); PES Logistics Partners, L.P. (1288); PESRM Holdings, LLC (2107); and Philadelphia Energy Solutions Refining and Marketing LLC (9574). The Debtors service address is: 1735 Market Street, Philadelphia, Pennsylvania DOCS_DE:

10 Case KG Doc Filed 04/13/18 Page 2 of 4 The Application is submitted pursuant to the Order (I) Establishing Procedures for Interim Compensation and Reimbursement of Expenses for Retained Professionals and (II) Granting Related Relief [Docket No. 216] (the Interim Compensation Order ). PLEASE TAKE FURTHER NOTICE that at the same time, you must also serve a copy of the response or objection upon: (i) the Debtors, PES Holdings, LLC, 1735 Market Street, Philadelphia, Pennsylvania 19103, Attn: John B. McShane; (ii) counsel to the Debtors, Kirkland & Ellis LLP, 300 North LaSalle, Chicago, Illinois 60654, Attn: Steven N. Serajeddini and Kirkland & Ellis LLP, 601 Lexington Avenue, New York, New York 10022, Attn: Matthew C. Fagen; (iii) co-counsel to the Debtors, Pachulski Stang Ziehl & Jones LLP, 919 North Market Street, 17th Floor, P.O. Box 8705, Wilmington, Delaware (Courier 19801), Attn: Laura Davis Jones; (iv) co-counsel to the Parent Parties, Latham & Watkins LLP, 815 Third Avenue, New York, New York 10022, Attn: Keith A. Simon and Paul F. Sheridan, Jr. and Akerman LLP, 666 Fifth Avenue, 20th Floor, New York, New York 10103, Attn: John Mitchell; (v) counsel to the Consenting NYL Creditors, Cahill Gordon & Reindel LLP, 80 Pine Street, New York, New York 10005, Attn: Susanna M Suh, Joel H. Levitin, and Darren Silver; (vi) counsel to the Consenting Term Loan B Creditors, Davis Polk & Wardwell LLP, 450 Lexington Avenue, New York, New York 10017, Attn: Damian S. Schaible and Aryeh E. Falk; (vii) the Office of the U.S. Trustee for the District of Delaware, 844 King Street, Suite 2207, Lockbox 35, Wilmington, DE 19801, Attn: Richard Schepacarter; and (viii) any party that has requested notice pursuant to Bankruptcy Rule IF NO OBJECTIONS ARE FILED AND SERVED IN ACCORDANCE WITH THE ABOVE PROCEDURES, THEN 80% OF FEES AND 100% OF THE EXPENSES DOCS_DE:

11 Case KG Doc Filed 04/13/18 Page 3 of 4 REQUESTED IN THE APPLICATION MAY BE PAID PURSUANT TO THE INTERIM COMPENSATION ORDER WITHOUT FURTHER HEARING OR ORDER OF THE COURT. IF A TIMELY OBJECTION IS FILED AND SERVED, THEN PAYMENT WILL BE MADE ACCORDING TO THE PROCEDURES SET FORTH IN THE INTERIM COMPENSATION ORDER. A HEARING ON THE APPLICATION WILL BE HELD ONLY IF OBJECTIONS OR RESPONSES ARE TIMELY FILED. [Remainder of page intentionally left blank] DOCS_DE:

12 Case KG Doc Filed 04/13/18 Page 4 of 4 Dated: April 13, 2018 /s/ Peter J. Keane Wilmington, Delaware Laura Davis Jones (DE Bar No. 2436) Timothy P. Cairns (DE Bar No. 4228) Peter J. Keane (DE Bar No. 5503) PACHULSKI STANG ZIEHL & JONES LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, Delaware (Courier 19801) Telephone: (302) Facsimile: (302) ljones@pszjlaw.com tcairns@pszjlaw.com pkeane@pszjlaw.com - and - James H.M. Sprayregen, P.C. Steven N. Serajeddini (admitted pro hac vice) KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 300 North LaSalle Street Chicago, Illinois Telephone: (312) Facsimile: (312) james.sprayregen@kirkland.com steven.serajeddini@kirkland.com - and - Edward O. Sassower, P.C. (admitted pro hac vice) Matthew C. Fagen (admitted pro hac vice) KIRKLAND & ELLIS LLP KIRKLAND & ELLIS INTERNATIONAL LLP 601 Lexington Avenue New York, New York Telephone: (212) Facsimile: (212) edward.sassower@kirkland.com matthew.fagen@kirkland.com Co-Counsel to the Debtors and Debtors in Possession DOCS_DE:

13 Case KG Doc Filed 04/13/18 Page 1 of 2 APPENDIX A

14 Case KG Doc Filed 04/13/18 Page 2 of 2 April 12, 2018 Gregory G. Gatta Chief Executive Officer PES Holdings, LLC 1735 Market Street, 11th Floor Philadelphia, PA Monthly Fee for the period of March 1, 2018 through March 31, 2018: $ 175, Less: 20% (35,000.00) Total Amount Due $ 140, Invoice No (1) Expenses incurred, but not yet processed due to timing differences will be billed at a later date. PJT Partners 280 Park Avenue New York, NY

15 Case KG Doc Filed 04/13/18 Page 1 of 11 APPENDIX B

16 Case KG Doc Filed 04/13/18 Page 2 of 11 PJT PARTNERS LP SUMMARY OF HOURS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Title Hours Tim Coleman Partner 9.5 Peter Laurinaitis Partner 37.5 Avram Robbins Managing Director 59.0 Scott Meyerson Associate 72.5 Zachary Dinan Analyst Total 290.5

17 Case KG Doc Filed 04/13/18 Page 3 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Tim Coleman 03/01/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/05/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/06/ Update call with PNC Tim Coleman 03/06/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/07/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/07/ WIP call with management and advisors Tim Coleman 03/08/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/12/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/14/ WIP call with management and advisors Tim Coleman 03/14/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/16/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/19/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/21/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/23/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/26/ Management / Advisors Correspondance & PJT team update discussion Tim Coleman 03/28/ Management / Advisors Correspondance & PJT team update discussion 9.5 Page 2 of 10

18 Case KG Doc Filed 04/13/18 Page 4 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Peter Laurinaitis 03/01/ Management / Advisors Correspondance Peter Laurinaitis 03/01/ PJT team update discussion Peter Laurinaitis 03/02/ Management / Advisors Correspondance Peter Laurinaitis 03/05/ Management / Advisors Correspondance Peter Laurinaitis 03/05/ PJT team update discussion Peter Laurinaitis 03/06/ Update call with PNC Peter Laurinaitis 03/06/ Management / Advisors Correspondance Peter Laurinaitis 03/07/ Management / Advisors Correspondance Peter Laurinaitis 03/07/ PJT team update discussion Peter Laurinaitis 03/07/ WIP call with management and advisors Peter Laurinaitis 03/08/ Management / Advisors Correspondance Peter Laurinaitis 03/09/ Management / Advisors Correspondance Peter Laurinaitis 03/09/ PJT team update discussion Peter Laurinaitis 03/12/ Management / Advisors Correspondance Peter Laurinaitis 03/13/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Peter Laurinaitis 03/13/ Management / Advisors Correspondance Peter Laurinaitis 03/13/ PJT team update discussion Peter Laurinaitis 03/14/ WIP call with management and advisors Peter Laurinaitis 03/14/ Management / Advisors Correspondance Peter Laurinaitis 03/15/ Management / Advisors Correspondance Peter Laurinaitis 03/15/ PJT team update discussion Peter Laurinaitis 03/16/ Management / Advisors Correspondance Peter Laurinaitis 03/19/ Management / Advisors Correspondance Peter Laurinaitis 03/19/ PJT team update discussion Peter Laurinaitis 03/20/ Management / Advisors Correspondance Peter Laurinaitis 03/20/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Peter Laurinaitis 03/21/ Management / Advisors Correspondance Peter Laurinaitis 03/21/ PJT team update discussion Peter Laurinaitis 03/21/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Peter Laurinaitis 03/21/ WIP call with management and advisors Peter Laurinaitis 03/22/ Management / Advisors Correspondance Peter Laurinaitis 03/23/ Management / Advisors Correspondance Peter Laurinaitis 03/23/ PJT team update discussion Page 3 of 10

19 Case KG Doc Filed 04/13/18 Page 5 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Peter Laurinaitis 03/25/ Confirmation Prep Peter Laurinaitis 03/26/ Confirmation Prep / Confirmation Hearing / Travel Peter Laurinaitis 03/27/ Meeting with potential first loss 3rd party investor / prep for meeting Peter Laurinaitis 03/27/ Management / Advisors Correspondance Peter Laurinaitis 03/28/ WIP call with management and advisors Peter Laurinaitis 03/28/ Discussions with Management on raising first loss and preparing first loss marketing materials Peter Laurinaitis 03/28/ Management / Advisors Correspondance Peter Laurinaitis 03/28/ PJT team update discussion Peter Laurinaitis 03/29/ Management / Advisors Correspondance 37.5 Page 4 of 10

20 Case KG Doc Filed 04/13/18 Page 6 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Avi Robbins 03/01/ Management / Advisors Correspondance Avi Robbins 03/01/ PJT team update discussion Avi Robbins 03/02/ Management / Advisors Correspondance Avi Robbins 03/05/ Management / Advisors Correspondance Avi Robbins 03/05/ PJT team update discussion Avi Robbins 03/06/ Update call with PNC Avi Robbins 03/06/ Management / Advisors Correspondance Avi Robbins 03/07/ Management / Advisors Correspondance Avi Robbins 03/07/ PJT team update discussion Avi Robbins 03/07/ WIP call with management and advisors Avi Robbins 03/08/ Management / Advisors Correspondance Avi Robbins 03/08/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/09/ Management / Advisors Correspondance Avi Robbins 03/09/ PJT team update discussion Avi Robbins 03/09/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/10/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/12/ Management / Advisors Correspondance Avi Robbins 03/12/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/13/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/13/ Management / Advisors Correspondance Avi Robbins 03/13/ PJT team update discussion Avi Robbins 03/14/ WIP call with management and advisors Avi Robbins 03/14/ Management / Advisors Correspondance Avi Robbins 03/15/ Management / Advisors Correspondance Avi Robbins 03/15/ PJT team update discussion Avi Robbins 03/16/ Management / Advisors Correspondance Avi Robbins 03/19/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/19/ Management / Advisors Correspondance Avi Robbins 03/19/ PJT team update discussion Avi Robbins 03/20/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/21/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Avi Robbins 03/21/ WIP call with management and advisors Avi Robbins 03/20/ Management / Advisors Correspondance Page 5 of 10

21 Case KG Doc Filed 04/13/18 Page 7 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Avi Robbins 03/21/ Management / Advisors Correspondance Avi Robbins 03/21/ PJT team update discussion Avi Robbins 03/22/ Management / Advisors Correspondance Avi Robbins 03/23/ Management / Advisors Correspondance Avi Robbins 03/23/ PJT team update discussion Avi Robbins 03/26/ Confirmation Prep Avi Robbins 03/27/ Preparing potential 3rd party first loss marketing materials / compiling list of 3rd party investors to reach out to Avi Robbins 03/27/ Meeting with potential first loss 3rd party investor / prep for meeting Avi Robbins 03/27/ Management / Advisors Correspondance Avi Robbins 03/28/ WIP call with management and advisors Avi Robbins 03/28/ Discussions with Management on raising first loss and preparing first loss marketing materials Avi Robbins 03/28/ Preparing potential 3rd party first loss marketing materials Avi Robbins 03/28/ Management / Advisors Correspondance Avi Robbins 03/28/ PJT team update discussion Avi Robbins 03/29/ Call with Houlihan on equity value and post emergence share counts Avi Robbins 03/29/ Preparing potential 3rd party first loss marketing materials Avi Robbins 03/29/ Management / Advisors Correspondance Avi Robbins 03/30/ Preparing potential 3rd party first loss marketing materials Avi Robbins 03/31/ Preparing potential 3rd party first loss marketing materials 59.0 Page 6 of 10

22 Case KG Doc Filed 04/13/18 Page 8 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Scott Meyerson 03/01/ Management / Advisors Correspondance Scott Meyerson 03/01/ PJT team update discussion Scott Meyerson 03/02/ Management / Advisors Correspondance Scott Meyerson 03/05/ Management / Advisors Correspondance Scott Meyerson 03/05/ PJT team update discussion Scott Meyerson 03/06/ Update call with PNC Scott Meyerson 03/06/ Management / Advisors Correspondance Scott Meyerson 03/07/ Management / Advisors Correspondance Scott Meyerson 03/07/ PJT team update discussion Scott Meyerson 03/07/ WIP call with management and advisors Scott Meyerson 03/08/ Management / Advisors Correspondance Scott Meyerson 03/08/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Scott Meyerson 03/09/ Management / Advisors Correspondance Scott Meyerson 03/09/ PJT team update discussion Scott Meyerson 03/09/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Scott Meyerson 03/10/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Scott Meyerson 03/11/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Scott Meyerson 03/12/ Management / Advisors Correspondance Scott Meyerson 03/12/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Scott Meyerson 03/13/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Scott Meyerson 03/13/ Management / Advisors Correspondance Scott Meyerson 03/13/ PJT team update discussion Scott Meyerson 03/14/ PES Model Call with Houlihan / Prep Scott Meyerson 03/14/ WIP call with management and advisors Scott Meyerson 03/14/ Call with KPMG Scott Meyerson 03/14/ Management / Advisors Correspondance Scott Meyerson 03/15/ Management / Advisors Correspondance Scott Meyerson 03/15/ PJT team update discussion Scott Meyerson 03/16/ Management / Advisors Correspondance Scott Meyerson 03/19/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Scott Meyerson 03/19/ Management / Advisors Correspondance Scott Meyerson 03/19/ PJT team update discussion Scott Meyerson 03/20/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Page 7 of 10

23 Case KG Doc Filed 04/13/18 Page 9 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Scott Meyerson 03/20/ Management / Advisors Correspondance Scott Meyerson 03/21/ WIP call with management and advisors Scott Meyerson 03/21/ Management / Advisors Correspondance Scott Meyerson 03/21/ PJT team update discussion Scott Meyerson 03/22/ Management / Advisors Correspondance Scott Meyerson 03/23/ Management / Advisors Correspondance Scott Meyerson 03/23/ PJT team update discussion Scott Meyerson 03/24/ Working with K&E and A&M to prepare slides for Confirmation Hearing Scott Meyerson 03/25/ Working with K&E and A&M to prepare slides for Confirmation Hearing Scott Meyerson 03/26/ Confirmation Prep / Confirmation Hearing / Travel Scott Meyerson 03/27/ Preparing potential 3rd party first loss marketing materials / compiling list of 3rd party investors to reach out to Scott Meyerson 03/27/ Meeting with potential first loss 3rd party investor / prep for meeting Scott Meyerson 03/27/ Management / Advisors Correspondance Scott Meyerson 03/28/ WIP call with management and advisors Scott Meyerson 03/28/ Discussions with Management on raising first loss and preparing first loss marketing materials Scott Meyerson 03/28/ Preparing potential 3rd party first loss marketing materials Scott Meyerson 03/28/ Management / Advisors Correspondance Scott Meyerson 03/28/ PJT team update discussion Scott Meyerson 03/29/ Call with Houlihan on equity value and post emergence share counts Scott Meyerson 03/29/ Preparing potential 3rd party first loss marketing materials Scott Meyerson 03/29/ Management / Advisors Correspondance Scott Meyerson 03/30/ Preparing potential 3rd party first loss marketing materials Scott Meyerson 03/31/ Preparing potential 3rd party first loss marketing materials 72.5 Page 8 of 10

24 Case KG Doc Filed 04/13/18 Page 10 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Zachary Dinan 03/01/ Management / Advisors Correspondance Zachary Dinan 03/01/ PJT team update discussion Zachary Dinan 03/02/ Management / Advisors Correspondance Zachary Dinan 03/05/ Management / Advisors Correspondance Zachary Dinan 03/05/ PJT team update discussion Zachary Dinan 03/06/ Update call with PNC Zachary Dinan 03/06/ Management / Advisors Correspondance Zachary Dinan 03/07/ Management / Advisors Correspondance Zachary Dinan 03/07/ PJT team update discussion Zachary Dinan 03/07/ WIP call with management and advisors Zachary Dinan 03/08/ Management / Advisors Correspondance Zachary Dinan 03/08/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/09/ Management / Advisors Correspondance Zachary Dinan 03/09/ PJT team update discussion Zachary Dinan 03/09/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/10/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/11/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/12/ Management / Advisors Correspondance Zachary Dinan 03/12/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/13/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/13/ Management / Advisors Correspondance Zachary Dinan 03/13/ PJT team update discussion Zachary Dinan 03/14/ PES Model Call with Houlihan / Prep Zachary Dinan 03/14/ WIP call with management and advisors Zachary Dinan 03/14/ Call with KPMG Zachary Dinan 03/14/ Management / Advisors Correspondance Zachary Dinan 03/15/ Management / Advisors Correspondance Zachary Dinan 03/15/ PJT team update discussion Zachary Dinan 03/16/ Management / Advisors Correspondance Zachary Dinan 03/19/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/19/ Management / Advisors Correspondance Zachary Dinan 03/19/ PJT team update discussion Zachary Dinan 03/20/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Page 9 of 10

25 Case KG Doc Filed 04/13/18 Page 11 of 11 PJT PARTNERS LP HOURLY DETAILS FOR THE PERIOD OF MARCH 1, 2018 THROUGH MARCH 31, 2018 Professional Date Hours Explanation Zachary Dinan 03/20/ Management / Advisors Correspondance Zachary Dinan 03/21/ Updating Valuation for Confirmation Declaration using 2-15 Business Plan and Updated Market Movements Zachary Dinan 03/21/ WIP call with management and advisors Zachary Dinan 03/21/ Management / Advisors Correspondance Zachary Dinan 03/21/ PJT team update discussion Zachary Dinan 03/22/ Management / Advisors Correspondance Zachary Dinan 03/23/ Management / Advisors Correspondance Zachary Dinan 03/23/ PJT team update discussion Zachary Dinan 03/24/ Working with K&E and A&M to prepare slides for Confirmation Hearing Zachary Dinan 03/25/ Working with K&E and A&M to prepare slides for Confirmation Hearing Zachary Dinan 03/26/ Confirmation Prep / Confirmation Hearing / Travel Zachary Dinan 03/27/ Preparing potential 3rd party first loss marketing materials / compiling list of 3rd party investors to reach out to Zachary Dinan 03/27/ Meeting with potential first loss 3rd party investor / prep for meeting Zachary Dinan 03/27/ Management / Advisors Correspondance Zachary Dinan 03/28/ WIP call with management and advisors Zachary Dinan 03/28/ Discussions with Management on raising first loss and preparing first loss marketing materials Zachary Dinan 03/28/ Preparing potential 3rd party first loss marketing materials Zachary Dinan 03/28/ Management / Advisors Correspondance Zachary Dinan 03/28/ PJT team update discussion Zachary Dinan 03/29/ Call with Houlihan on equity value and post emergence share counts Zachary Dinan 03/29/ Preparing potential 3rd party first loss marketing materials Zachary Dinan 03/29/ Management / Advisors Correspondance Zachary Dinan 03/30/ Preparing potential 3rd party first loss marketing materials Zachary Dinan 03/31/ Preparing potential 3rd party first loss marketing materials Page 10 of 10