WE ARE THE WORLD FOUNDATION

ON APRIL 18, 2010, THE FOUNDATION'S BOARD OF DIRECTORS APPROVED A GRANT IN THE AMOUNT OF $1,500,000 WHICH ON JULY 30, 2012, WAS REVISED TO $2,582,410 TO ARTISTS FOR PEACE AND JUSTICE ("APJ"), A DOMESTIC TAX-EXEMPT ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, FOR THE CONSTRUCTION AND FIVE YEARS OF OPERATIONS OF A MUSIC SCHOOL FOR IMPOVERISHED YOUNG PEOPLE IN HAITI. THE FIRST INSTALLMENT OF THAT GRANT WAS DISBURSED ON JANUARY 5, 2011 AND THE SECOND INSTALLMENT WAS DISBURSED ON AUGUST 3, 2012 FOLLOWING THE FOUNDATION'S RECEIPT FROM APJ OF PROJECT DETAIL, PLANS AND DOCUMENTATION. IN 2013 A DISBURSEMENT TOWARDS PHASE TWO OF THE PROJECT WAS MADE ON AUGUST 30TH. A SUPPLEMENTAL AGREEMENT WAS ALSO APPROVED ON OCTOBER 2013 FOR $323,865 AND THE FIRST TWO INSTALLMENTS, TOTALING $215,910, WERE PAID ON OCTOBER 22, 2013.[CONTINUED ON SCHEDULE O]