Subject: Re: Privileged and Confidential
From: "Vadim Pozharskyi" <[email-masked]>
To: "Heather King" <[email-masked]>, "Devon Archer" <[email-masked]>, "Hunter Biden" <[email-masked]>, "Toohey, Ryan" <[email-masked]>, "Alan Apter" <[email-masked]>, "James McInerney" <[email-masked]>, "Pacheco, Lawrence" <[email-masked]>
Date: Wed, 25 Jun 2014 19:48:06 +0300

Dear Heather,
I am sorry for the confusion that might have arisen. UBO in our chart means
the ultimate beneficial owner, who is Nikolay. Therefore, Burisma is 100%
owned by Brociti and Brociti is 100% owned by Nikolay and you are very
correct in saying that he is thus an indirect owner of Burisma.
Best,
Vadim

2014-06-25 17:38 GMT+03:00 Heather King <[email-masked]>:

>  Vadim – Can you please clarify for me what the ownership structure is
> between Burisma Holdings Limited, Brociti Investments Limited and UBO? I
> have a chart that you sent me which shows that Burisma is 100% owned by
> Brociti and that Brociti is 100% owned by UBO. However, one of the Cyprus
> filings seems to conflict with this. It lists NZ as the owner of Brociti.
> I just want to be sure we get this all down precisely, and then we can
> choose when to be inprecise (for example, it is fine to say that Nikolai is
> the “owner” of Burisma but the precise answer seems to be that he is not –
> rather, he is the indirect owner of Burisma, either because he owns 100% of
> Brociti or because he owns 100% of UBO, which owns Brociti).
>
>
>
> *Heather King, Esq.*
>
> *Partner*
>
>
> *BOIES, SCHILLER & FLEXNER LLP **5301 Wisconsin Avenue, N.W.*
> *Washington, D.C. 20015*
>
> *202-274-1129 <202-274-1129> (Phone) 202-237-6131 <202-237-6131> (Fax)*
>
> [email-masked] <[email-masked]>*
>
>
>
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