PAULSON & CO. INC.

SEC source: 0001013594-19-000623 · form4.xml · derivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · See footnote

Disclosed balance after: 1,000,000

Underlying: Common Stock · 125,000 shares

Expires 2022-10-24

F1 · ownership.nature: (1) Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940, as amended. Paulson is the investment manager of an investment fund (the "Fund"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Fund. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Fund. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-032330 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 10,252,437

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-030933 · doc1.xml · derivative · entry 3

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 1,250,000

Underlying: Common stock, par value of $.0001 · 220,000 shares

Expires not disclosed

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · derivative.exercise_price: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_price: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.exercise_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.expiration_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.expiration_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-030933 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 24,062,368

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-030933 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 24,088,568

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-026917 · doc1.xml · nonDerivative · entry 6

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 3,456,773

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-026917 · doc1.xml · nonDerivative · entry 5

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 3,566,223

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-026917 · doc1.xml · nonDerivative · entry 4

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 3,636,223

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-027379 · doc1.xml · nonDerivative · entry 4

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 10,955,418

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · balance_after: Sales pending removal of the restrictive legend.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-027379 · doc1.xml · nonDerivative · entry 3

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 10,955,418

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · balance_after: Sales pending removal of the restrictive legend.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-027379 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 10,955,418

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · balance_after: Sales pending removal of the restrictive legend.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-026917 · doc1.xml · nonDerivative · entry 3

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 3,642,223

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-027379 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 10,955,418

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-028138 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,566,126

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-023873 · doc1.xml · derivative · entry 3

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 0

Underlying: Class A Common Stock, par value $0.01 · 693,257 shares

Expires not disclosed

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F4 · derivative.exercise_date: The Warrants may be exercised only with the Issuer's consent and subject to certain restrictions set forth in the Issuer's organizational documents. The Warrants expire on August 5, 2039.

F4 · derivative.expiration_date: The Warrants may be exercised only with the Issuer's consent and subject to certain restrictions set forth in the Issuer's organizational documents. The Warrants expire on August 5, 2039.

SEC source: 0001140361-17-023873 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,000,557

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · shares: Reflects 2,211 shares withheld by the Issuer at the volume weighted average price of $3.1213 per share less an exercise price of $0.01 per share to fund the cashless exercise of 693,257 Class A Warrants owned by Paulson.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-023873 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,002,778

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-028327 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,000,557

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · shares: Reflects 2,221 shares withheld by the Issuer at the volume weighted average price of $3.1213 per share less an exercise price of $0.01 per share to fund the cashless exercise of 693,257 Class A Warrants owned by Paulson.

F4 · shares: The Form 4 filed on June 5, 2015 contained a Scrivener's error in the number of shares withheld for the cashless exercise of the warrants. This amendment has been filed solely to correct that amount from 2,211 to 2,221 shares withheld by the issuer to fund the cashless exercise of the Class A Warrants.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-018642 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 9,836,590

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 250,000 Paired Shares from the Reporting Person at a price of $17.23 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 250,000 Paired Shares from the Reporting Person at a price of $17.23 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 250,000 Paired Shares from the Reporting Person at a price of $17.23 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-018642 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 10,086,590

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated April 27, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on May 3, 2017. This amount represents an aggregate price per Paired Share of $17.23.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated April 27, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on May 3, 2017. This amount represents an aggregate price per Paired Share of $17.23.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated April 27, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on May 3, 2017. This amount represents an aggregate price per Paired Share of $17.23.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-018641 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 9,836,590

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 250,000 Paired Shares from the Reporting Person at a price of $17.23 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 250,000 Paired Shares from the Reporting Person at a price of $17.23 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 250,000 Paired Shares from the Reporting Person at a price of $17.23 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-018641 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 10,086,590

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated April 27, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on May 3, 2017. This amount represents an aggregate price per Paired Share of $17.23.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated April 27, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on May 3, 2017. This amount represents an aggregate price per Paired Share of $17.23.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated April 27, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on May 3, 2017. This amount represents an aggregate price per Paired Share of $17.23.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage II L.P., (iv) Paulson Advantage Plus II L.P., (v) Paulson Advantage Plus II Ltd., (vi) ESA Recovery Acquisition, LLC, (vii) Paulson Credit Opportunities, L.P., (viii) Paulson Credit Opportunities PEQ1 Ltd., (ix) Paulson Credit Opportunities II PEQ1 Ltd., (x) Paulson Credit Opportunities IV L.P., (xi) Paulson Special Situations Fund, LP, (xii) Paulson Special Situations Fund PEQ1 Ltd., (xiii) PCO EN LLC, and (xiv) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-026917 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 3,667,223

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F3 · kind: Distribution in-kind by Paulson to two Separately Managed Accounts formerly managed by Paulson without the exchange of consideration.

F3 · price: Distribution in-kind by Paulson to two Separately Managed Accounts formerly managed by Paulson without the exchange of consideration.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-011921 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 20,086,590

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,334 Paired Shares from the Reporting Person at a price of $16.70 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,334 Paired Shares from the Reporting Person at a price of $16.70 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,334 Paired Shares from the Reporting Person at a price of $16.70 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-011921 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 20,294,924

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated March 6, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on March 10, 2017. This amount represents an aggregate price per Paired Share of $16.70.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated March 6, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on March 10, 2017. This amount represents an aggregate price per Paired Share of $16.70.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated March 6, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on March 10, 2017. This amount represents an aggregate price per Paired Share of $16.70.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-011926 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 20,086,590

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc.. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,334 Paired Shares from the Reporting Person at a price of $16.70 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,334 Paired Shares from the Reporting Person at a price of $16.70 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,334 Paired Shares from the Reporting Person at a price of $16.70 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-011926 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 20,294,924

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc.. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated March 6, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on March 10, 2017. This amount represents an aggregate price per Paired Share of $16.70.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated March 6, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on March 10, 2017. This amount represents an aggregate price per Paired Share of $16.70.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated March 6, 2017 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on March 10, 2017. This amount represents an aggregate price per Paired Share of $16.70.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage II L.P., (ii) Paulson Advantage Plus II L.P., (iii) ESA Recovery Acquisition, LLC, (iv) Paulson Advantage Plus II Ltd., (v) Paulson Credit Opportunities IV Ltd., (vi) Paulson Partners L.P., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson International Ltd., (ix) Paulson Enhanced Ltd., (x) PCO EN LLC, (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-17-028138 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,584,373

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-026917 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 3,672,279

F3 · kind: Distribution in-kind by Paulson to two Separately Managed Accounts formerly managed by Paulson without the exchange of consideration.

F3 · price: Distribution in-kind by Paulson to two Separately Managed Accounts formerly managed by Paulson without the exchange of consideration.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-003788 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,593,066

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-000991 · doc1.xml · derivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 1,573,713

Underlying: Common stock, par value of $.0001 · 226,187 shares

Expires not disclosed

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · derivative.exercise_price: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,573,713 shares of Common Stock at strike prices ranging from $5.1974 to $6.3774 and expiration dates ranging from 1/6/2017 to 2/8/2018. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_price: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.exercise_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,573,713 shares of Common Stock at strike prices ranging from $5.1974 to $6.3774 and expiration dates ranging from 1/6/2017 to 2/8/2018. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.expiration_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,573,713 shares of Common Stock at strike prices ranging from $5.1974 to $6.3774 and expiration dates ranging from 1/6/2017 to 2/8/2018. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.expiration_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-17-000768 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,597,837

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-16-091226 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 55,487,842

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-16-091225 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 11,603,178

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-16-090811 · doc1.xml · derivative · entry 3

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 1,799,900

Underlying: Common stock, par value of $.0001 · 144,000 shares

Expires not disclosed

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · derivative.exercise_price: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,943,900 shares of Common Stock at strike prices ranging from $3.31 to $6.347 and expiration dates ranging from 12/31/2016 to 12/12/2017. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_price: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.exercise_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,943,900 shares of Common Stock at strike prices ranging from $3.31 to $6.347 and expiration dates ranging from 12/31/2016 to 12/12/2017. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.expiration_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,943,900 shares of Common Stock at strike prices ranging from $3.31 to $6.347 and expiration dates ranging from 12/31/2016 to 12/12/2017. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.expiration_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-16-090811 · doc1.xml · derivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 1,943,900

Underlying: Common stock, par value of $.0001 · 271,000 shares

Expires not disclosed

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · security: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

F3 · derivative.exercise_price: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,943,900 shares of Common Stock at strike prices ranging from $3.31 to $6.347 and expiration dates ranging from 12/31/2016 to 12/12/2017. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_price: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.exercise_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,943,900 shares of Common Stock at strike prices ranging from $3.31 to $6.347 and expiration dates ranging from 12/31/2016 to 12/12/2017. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.exercise_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F3 · derivative.expiration_date: Notional principal amount derivative agreements (the "Derivative Agreement") in the form of a cash settled swaps entered into by the Funds representing a share equivalent of an aggregate of 1,943,900 shares of Common Stock at strike prices ranging from $3.31 to $6.347 and expiration dates ranging from 12/31/2016 to 12/12/2017. The Derivative Agreements provide the Funds with economic results that are comparable to the economic results of ownership of Common Stock payable on each settlement date applicable to the expiration or earlier termination of such Derivative Agreements, but does not provide them with the power to vote or direct the voting or dispose of or direct the disposition of the shares of Common Stock that are the subject of the Derivative Agreements (such shares, the "Subject Shares").

F4 · derivative.expiration_date: Each of Paulson, the Funds, the Separately Managed Accounts and John Paulson disclaims beneficial ownership in the Subject Shares. The counterparties to the Derivative Agreements are unaffiliated third party financial institutions.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-16-090393 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 28,628,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,333 Paired Shares from the Reporting Person at a price of $16.41 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,333 Paired Shares from the Reporting Person at a price of $16.41 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,333 Paired Shares from the Reporting Person at a price of $16.41 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-090393 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 28,836,591

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated December 12, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on December 16, 2016. This amount represents an aggregate price per Paired Share of $16.41.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated December 12, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on December 16, 2016. This amount represents an aggregate price per Paired Share of $16.41.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated December 12, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on December 16, 2016. This amount represents an aggregate price per Paired Share of $16.41.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-090390 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 28,628,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,333 Paired Shares from the Reporting Person at a price of $16.41 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,333 Paired Shares from the Reporting Person at a price of $16.41 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 208,333 Paired Shares from the Reporting Person at a price of $16.41 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-090390 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 28,836,591

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated December 12, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on December 16, 2016. This amount represents an aggregate price per Paired Share of $16.41.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated December 12, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on December 16, 2016. This amount represents an aggregate price per Paired Share of $16.41.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated December 12, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The Secondary Offering closed on December 16, 2016. This amount represents an aggregate price per Paired Share of $16.41.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Special Situations Fund, LP, (ii) Paulson Special Situations PEQ1 Ltd., (iii) Paulson Partners Enhanced, L.P., (iv) Paulson Enhanced Ltd., (v) ESA Recovery Acquisition, LLC, (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-087641 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 33,003,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 425,000 Paired Shares from the Reporting Person at a price of $14.76 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 425,000 Paired Shares from the Reporting Person at a price of $14.76 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 425,000 Paired Shares from the Reporting Person at a price of $14.76 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-087641 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 33,428,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated November 14, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on November 18, 2016. This amount represents an aggregate price per Paired Share of $14.76.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated November 14, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on November 18, 2016. This amount represents an aggregate price per Paired Share of $14.76.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated November 14, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on November 18, 2016. This amount represents an aggregate price per Paired Share of $14.76.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-087640 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 33,003,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 425,000 Paired Shares from the Reporting Person at a price of $14.76 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 425,000 Paired Shares from the Reporting Person at a price of $14.76 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 425,000 Paired Shares from the Reporting Person at a price of $14.76 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-087640 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 33,428,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated November 14, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on November 18, 2016. This amount represents an aggregate price per Paired Share of $14.76.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated November 14, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on November 18, 2016. This amount represents an aggregate price per Paired Share of $14.76.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated November 14, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on November 18, 2016. This amount represents an aggregate price per Paired Share of $14.76.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations Fund, LP, (vi) Paulson Special Situations PEQ1 Ltd., (vii) Paulson Partners Enhanced, L.P., (viii) Paulson Enhanced Ltd., (ix) ESA Recovery Acquisition, LLC, (x) PCO EN LLC and (xi) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-085412 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 24,088,655

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4.

SEC source: 0001140361-16-082175 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 37,678,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 650,000 Paired Shares from the Reporting Person at a price of $14.16 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 650,000 Paired Shares from the Reporting Person at a price of $14.16 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 650,000 Paired Shares from the Reporting Person at a price of $14.16 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-082175 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 38,328,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to Extended Stay America, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated September 29, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on October 4, 2016. This amount represents the $14.25 price to public per Paired Share, less the underwriting discount of $0.09 per Paired Share.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated September 29, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on October 4, 2016. This amount represents the $14.25 price to public per Paired Share, less the underwriting discount of $0.09 per Paired Share.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated September 29, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on October 4, 2016. This amount represents the $14.25 price to public per Paired Share, less the underwriting discount of $0.09 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-082174 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 37,678,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F5 · kind: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 650,000 Paired Shares from the Reporting Person at a price of $14.16 per Paired Share.

F5 · shares: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 650,000 Paired Shares from the Reporting Person at a price of $14.16 per Paired Share.

F5 · price: Concurrent with the closing of the Secondary Offering, Extended Stay America, Inc. and ESH Hospitality, Inc. repurchased 650,000 Paired Shares from the Reporting Person at a price of $14.16 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-082174 · doc1.xml · nonDerivative · entry 1

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 38,328,258

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · security: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

F3 · security: Each Paired Share is comprised of one share of common stock, par value $0.01 per share, of Extended Stay America, Inc. and one share of Class B Common Stock, par value $0.01 per share, of ESH Hospitality, Inc., which shares are paired and traded as a single unit. A Form 4 reflecting the holdings of Paired Shares by the Reporting Person shown on this Form 4 has been concurrently filed with respect to ESH Hospitality, Inc. as issuer.

F4 · kind: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated September 29, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on October 4, 2016. This amount represents the $14.25 price to public per Paired Share, less the underwriting discount of $0.09 per Paired Share.

F4 · shares: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated September 29, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on October 4, 2016. This amount represents the $14.25 price to public per Paired Share, less the underwriting discount of $0.09 per Paired Share.

F4 · price: In connection with the secondary offering of Paired Shares by certain selling shareholders pursuant to an underwriting agreement (the "Underwriting Agreement") and prospectus supplement, each dated September 29, 2016 (the "Secondary Offering"), the Reporting Person, as a selling shareholder, sold Paired Shares in the amounts shown in the above table. The secondary offering closed on October 4, 2016. This amount represents the $14.25 price to public per Paired Share, less the underwriting discount of $0.09 per Paired Share.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson & Co. Inc., and/or its affiliates (collectively, "Paulson") serve as the investment manager of (i) Paulson Advantage, L.P., (ii) Paulson Advantage Ltd., (iii) Paulson Advantage Plus, L.P., (iv) Paulson Advantage Plus PEQ1 Ltd., (v) Paulson Special Situations PEQ1 Ltd., (vi) PCO EN LLC and (vii) PCO PP LLC (collectively, the "Paired Share Funds").

F2 · ownership.direct: John Paulson is the controlling person of Paulson. All Paired Shares reported on this Form 4 are owned by the Paired Share Funds. Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Paired Share Funds. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form.

SEC source: 0001140361-16-081083 · doc1.xml · nonDerivative · entry 2

PAULSON & CO. INC. · CIK 0001035674 · 10% owner

10b5-1 filing: Not disclosed

Ownership: Indirect · By Managed Funds and Accounts

Disclosed balance after: 24,228,655

F1 · security: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F1 · ownership.direct: Paulson & Co. Inc. ("Paulson") is an investment advisor registered under the Investment Advisors Act of 1940. Paulson is the investment manager of investment funds (the "Funds") and certain separately managed accounts (the "Separately Managed Accounts"). John Paulson is the controlling person of Paulson. All securities reported on this Form 4 are owned by the Funds or held in the Separately Managed Accounts.

F2 · ownership.direct: Each of Paulson and John Paulson may be deemed to indirectly beneficially own the securities directly owned by the Funds or held in the Separately Managed Accounts. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Act"), the filing of this Form 4 shall not be deemed an admission by any person reporting on this Form 4 that such person, for purposes of Section 16 of the Act or otherwise, is the beneficial owner of any equity securities covered by this Form 4