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Monday, 08/29/2022 4:16:38 PM

Monday, August 29, 2022 4:16:38 PM

Post# of 246
Global Corporate Trust
60 Livingston Avenue
EP-MN-WS1D
Saint Paul, MN 55107
usbank.com
Notice to Holders of:

MEDLEY LLC
6.875% Notes due 2026
(the “6.875% Notes”)
and
7.25% Notes due 2024
(the “7.25% Notes”)
CUSIP Nos.: 58503Y105, 58503Y2041
Escrow CUSIP Nos.: 585ESC015, 585ESC0231
NOTICE OF DISTRIBUTION PURSUANT TO BANKRUPTCY PLAN

Please forward this Notice to beneficial holders.

U.S. Bank National Association serves as trustee (the “Notes Trustee”) under that certain Indenture,
dated as of August 9, 2016 (as amended, restated, modified or supplemented from time to time prior to
the date hereof, the “Indenture”), by and between Medley LLC, as issuer (the “Issuer”), and the Notes
Trustee, pursuant to which the 6.875% Notes and the 7.25% Notes (together, the “Notes”) were issued.
Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the
Indenture, the Plan (as defined below), or the prior notices of the Notes Trustee, as applicable.
As previously advised, on March 7, 2021, the Issuer filed a voluntary petition for reorganization
under chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware (the “Court”), under Case No. 21-10526 (the “Bankruptcy Case”).
As further previously advised, on October 18, 2021, the Court entered an order [Docket No. 445]
(the “Confirmation Order”) confirming the Modified Third Amended Combined Disclosure Statement and
Chapter 11 Plan of Medley LLC (as modified, amended, or supplemented from time to time and together
with all exhibits and supplements thereto, the “Plan”) in the Bankruptcy Case.
As further previously advised, pursuant to the Plan and Confirmation Order, on the Effective Date
of the Plan, the Notes were cancelled as debt instruments and Holders of the Notes received pro rata
beneficial interests in the Liquidating Trust established pursuant to the Plan. A copy of the Liquidating
Trust Agreement was filed with the Court as Exhibit A to the Notice of Plan Supplement [Dkt. No. 371].

1The Notes Trustee is not responsible for the selection or use of CUSIP numbers or Escrow CUSIP numbers. They are included in this
notice solely for Holder convenience.

As further previously advised, the Notes are registered to a nominee of the Depository Trust &
Clearing Corporation (“DTC”), and any distributions under the Plan on account of the Class 3 Notes Claims
will be made by the Notes Trustee through DTC based upon the amount of Notes each Holder beneficially
held at the time of cancellation at DTC. All such distributions under the Plan on account of Class 3 Notes
Claims will be made to the Notes Trustee in the first instance and are subject to the prior payment of the
Notes Trustee’s fees and expenses as set forth in the Plan.
Copies of the Confirmation Order, the Plan and Liquidating Trust Agreement can be found at:
http://www.kccllc.net/medley or at https://www.deb.uscourts.gov/. The Notes Trustee makes no
recommendation or representation regarding these websites.

DISTRIBUTION PURSUANT TO BANKRUPTCY PLAN

On August 29, 2022, promptly following its receipt of such funds from the Liquidating Trust, the
Notes Trustee will distribute the aggregate amount of $10,000,000.00 to Holders of Class 3 Notes Claims
through DTC. The distribution represents a distribution of 2,039.23487907 per $1,000 principal amount
of the Notes (the “Allocation Rate”):
CUSIP Escrow CUSIP Notes Outstanding Amount Allocation Rate per $1,000 Rate per Note
58503Y105 585ESC015 2,143,800.00 $4,371,711.73 2,039.23487907 2.03923487907
58503Y204 585ESC023 2,760,000.00 $5,628,288.27 2,039.23487907 2.03923487907
Saccullo Business Consulting, LLC, was appointed as the Liquidating Trustee pursuant to the
Confirmation Order, the Plan, and the Liquidating Trust Agreement. Holders interested in contacting
the Liquidating Trustee can do so by calling (302) 643-9175 or emailing SBC@MedleyLiqTrust.com.
Any questions or inquiries about the Bankruptcy Case or the Liquidating Trust should be directed to
the Liquidating Trustee. The Notes Trustee has no duties under the Plan or the Liquidating Trust
Agreement and has no ongoing role in the Liquidating Trust or the Bankruptcy Case.
The Liquidating Trust is a grantor trust for income tax purposes. Holders are encouraged to
review the Liquidating Trust Agreement in its entirety, and, to the extent necessary, contact their own
tax advisors. The information in this Notice is only intended to be a summary. The Notes Trustee
provides no tax advice. The Notes Trustee further makes no recommendation or representation and
gives no investment or legal advice regarding the Notes, the Indenture, or the Bankruptcy Case, the
Confirmation Order, or the Plan.
Questions concerning this notice should be sent via email to Mr. Ian Bell, Vice President, U.S. Bank
National Association, Global Corporate Trust at ian.bell@usbank.com. Holders with other questions may
contact Bondholder Services at (800) 934-6802, option #7.
The Notes Trustee may conclude that a specific response to particular inquiries from individual
Holders is not consistent with equal and full dissemination of information to all Holders.

U.S. Bank National Association, August 26, 2022
as Notes Trustee