EMAIL CHAIN SEPTEMBER 1Q, 2613 Paul ems-vow wrote: Hi Jared, As we have an upcoming tour announcement for Mark Knopfler I wanted to ask you how i can avoid your relationship via 'l'rade Desk conflicting with our proposed on numbers of tickets sold. As you know from when we met in London, there was a full and frank exchange of views and the impression given, from your side was that TM do not support or engage with industrial sellers. Was this all just bollocks for public consumption when in fact you are taking a hypocritical and unprincipled stance and actually assisting scalpers i am giving you a chance to respond openly and transparently before i assume the worst, Looking forward to your response. Kind regards Pt.) Paul Crockford Crockford Management Jared Smith wrote: Hi Paul, thank you for the note. The answer is no. The press has completely misrepresented what Trade Desk is and who uses it. Neither it nor we facilitate mass purchase of tickets by brokers or anyone else. To be absolutely clear our priority is the artist and your fan. We will absolutely work with you on this and make sure we help you avoid mass sales. As we spoke about in London, between our new queuing product and verified fan we already have better tools at our disposal to out this type of activity and with digital tickets rapidty developing we will have even more tools in the months ahead. wrote: Hi Jared, What does it do then PC From: Jared Smith To: Paul Cc: Michele Bernstein Marc Geiger Tim Hook Katie Knowles Adam TudhOpe Brian Message Paul Craig . richard iones David Marcuss Mark Yuvich Subject: Re: We went undercover as iickel scalpere and Ticketmaster offered to help us do business The Star it is a completely separate too! brdkers can use to manage their tickets. it does not allow them to purchase anything. David can give you additional detail. David Marcus wrote: Here t0 answer questions. David Marcus EVP, Head of Music, Ticketmaster From: Paul Crockford Hi David, Please explain to me what exactly Trade Desk is and how does it interface with anyone at all ?3 Thanks. PC Paul Crecktorri Crockford Management David Marcus Mate: First a bit of additional context: major league sports teams in North America rely heavily on professional resellers to manage and price large volumes of inventory on behalf of teams. Historically, those resellers would buy tickets from teams. increasingly, they price and distribute tickets to a variety of marketplaces as a service to the team (there is no doubt most of them also get access to and resell concert tickets). Trade Desk is a tool that was built to service this community that needs a solution for managing their portfolios of tickets. it is also used by ?retail brokers? those that try to purchase tickets for resale from Tivl?s marketplace. 'i'radeDesk is a ?point of sale? tool. it helps resellers with large volumes of tickets to set and adjust prices, distribute tickets to our marketplace and others, and fulfill tickets. There are other point of sale platforms that provide resellers with ticket management and distribution. Ours is unique in that Trade Desk is the only platform that validates that a ticket is real, actually in the seller?s possession, and bears an authentic bar code when sold and delivered to a consumer. To be clear: Trade Desk does absolutely nothing to aide in the acquisitien of inventory, and we absolutely do not facilitate the mass purchase of tickets by anybody, ever. David Marcus From: Adam Tudhope Hi David I suppose my questions woutd be: - from where do the brokers whom you?re providing this tool for get their tickets? why he in the business of facilitating brokers at all? Thanks, Adam ADAM 53 Corsica Street, London N5 1JT SEPTEMBER 20, 2618 David area: Both good questions, Adam. - Brokers get their tickets from lots of legitimate pieces. For the big brokers, they are engaged by professionei sports teams as a pricing and distribution engine. The teams have hundreds of thousands of tickets to seit each season. The guy in the trench seat has been repieced by a group of and traders who heip teams fiil their buildings and manage their pricing. The teams either seii or consign the tickets directiy to the broker. . These same brokers frequently get the right to purchase concert tickets directiy from the venue as a part of their relationship with the team. Brokers aiso buy tickets directty from Tiyicom. While we have a zero-tolerance poiioy for brokers using automated software, and while we have tots of tools and technoicgies to limit brokers? ability (Verified Fen) or incentive (Pietinum pricing} to purchase tickets. the reality is that brokers buy tickets from us at retail. By previding this platform to brokers we can ensure that the resale market many of our clients rely on is safe fer fans. We can ensure these tickets are real, valid, and guaranteed for entry, and that the buyer?s name shows up in the team?s/artist?s database. David Marcus From: Adam Tudhope Hi David The way i read this you?re saying that the practices around sports ticketing in the same buildings we do shows are very different and they?re having an impact on our shows. What you?re also saying is that unmanirested tickets are being sold directly by the buildings to brokers. is this true of LiveNation buildings as well? Cheers, Adam ADAM TUDHOPE, 53 Corsica Street, London NS NT David Marcus wrote: Adam Ne. LN buildings do not have unmanifested seats. Season ticket sales are not included in show grosses, but that?s a disclosed program. David Marcus EVP, Head of Music Ticketmaster From: pat; swam There is however a difference between non?manifested seats and being able to identify who has bought the tickets in the first place. As Trade Desk, by admission of your own employees, is facilitating mass sales through scalpers and turning a corporate blind tc multiple identities and fake accounts, that is where the over powering financial imperative of TM/Live Nation cemes in. it?s laughable to say this has anything to do with verifying tickets for resale or stopping fraud or anything else. Just come out and be honest, absolute control of box offices by TM whether or not those venues are centralized/owned by Live Nation is resulting in TM making scalpers lives easier. Ticket Desk makes that easier. Paul Crockforci Crockford Management 10 'i?ottenham Mews, London 4AF David Marcus wrote: Paul, Respectfully, we disagree. We work tirelessly here to make it harder for scalpers to get tickets at the expense of fans. i don't think there?s a single person on this string that hasn?t had direct experience with that. it the full attention of my team of 50+, which is focused exclusively on constructing and managing ticketing strategies that get tickets to fans at prices set by the artist. Eveiy morning at 7am they join other teams that constantly monitor on sales for abuse and over?the?lirnit purchases, fight the billions of bots that attack our systems, and ensure that our systems are selling tickets to fans. first. In the past few months alone. we?ve deployed dozens of our best engineers and spent millions of dollars to reengineer the ticketing system to make it even more bot?resistant and fan friendly. And we are continuing to invest in sharpening our ability to identify ticket buyers, reward real fans with preferred access to tickets and control digital tickets more effectively. if we wanted to make scalpers lives easier, we would do none of this. David Marcus SEPTEMBER 23, 2018 From: Paul I am happy to wait and see what comes (if your conversations with Adam re Mumfords. lwill reserve myjudgement on the whole issue until I hear what he has to say abaut it. Paul Crockford Crockford Management 10 Tottenham Mews, Londnn W1T 4AF