Evercore Reports Third Quarter 2013 Results Increases Quarterly Dividend to $0.25 Per Share

  Evercore Reports Third Quarter 2013 Results Increases Quarterly Dividend to
  $0.25 Per Share

Highlights

  *Third Quarter Financial Summary

       *U.S. GAAP Net Revenues of $188.0 million, up 23% and down 9% compared
         to Q3 2012 and Q2 2013, respectively
       *U.S. GAAP Net Income of $14.0 million, or $0.36 per share, up 163%
         and down 15% compared to Q3 2012 and Q2 2013, respectively
       *Adjusted Pro Forma Net Revenues of $187.1 million, up 25% and down 9%
         compared to Q3 2012 and Q2 2013, respectively
       *Adjusted Pro Forma Net Income of $24.3 million, or $0.53 per share,
         up 41% and down 18% compared to Q3 2012 and Q2 2013, respectively

  *Year-to-Date Financial Summary

       *U.S. GAAP Net Revenues of $546.8 million, up 28% compared to the same
         period in 2012
       *U.S. GAAP Net Income of $36.4 million, or $0.96 per share, up 268%
         compared to the same period in 2012
       *Adjusted Pro Forma Net Revenues of $547.2 million, up 28% compared to
         the same period in 2012
       *Adjusted Pro Forma Net Income of $70.6 million, or $1.54 per share,
         up 65% compared to the same period in 2012

  *Investment Banking

       *Announced the hiring of Senior Managing Directors Matthew McAskin in
         Healthcare Services and Fernando Soriano to focus on Latin American
         companies
       *Continue to advise on many of the leading transactions in the
         marketplace, including:

            *Advising AT&T on its $4.1 billion acquisition of Leap Wireless
            *Advising Ally Financial on the private placement of $1 billion
              of Ally common stock
            *Advising ARINC, a portfolio company of The Carlyle Group, on its
              $1.4 billion sale to Rockwell Collins
            *Advised the State of Nuevo Leon in Mexico in the refinancing of
              MP 33.6 billion of loans

  *Investment Management

       *Assets Under Management in consolidated businesses were $14.2 billion

  *The Board refreshed the stock buyback program, which now has $250 million
    (5 million shares) authorized for repurchase
  *The Board approved an increase in the quarterly dividend to $0.25 per
    share

Business Wire

NEW YORK -- October 23, 2013

Evercore Partners Inc. (NYSE:EVR) today announced that its U.S. GAAP Net
Revenues were $188.0 million for the quarter ended September 30, 2013,
compared to $153.0 million and $207.4 million for the quarters ended September
30, 2012 and June 30, 2013, respectively. U.S. GAAP Net Revenues were $546.8
million for the nine months ended September 30, 2013, compared to $428.3
million for the nine months ended September 30, 2012. U.S. GAAP Net Income
Attributable to Evercore Partners Inc. for the third quarter was $14.0
million, or $0.36 per share, compared to $5.3 million, or $0.17 per share, a
year ago and $16.4 million, or $0.44 per share, last quarter. U.S. GAAP Net
Income Attributable to Evercore Partners Inc. was $36.4 million, or $0.96 per
share, for the nine months ended September 30, 2013, compared to $9.9 million,
or $0.31 per share, for the same period last year.

Adjusted Pro Forma Net Revenues were $187.1 million for the quarter ended
September 30, 2013, compared with $149.2 million and $206.8 million for the
quarters ended September 30, 2012 and June 30, 2013, respectively. Adjusted
Pro Forma Net Revenues were $547.2 million for the nine months ended September
30, 2013, compared with $426.9 million for the nine months ended September 30,
2012. Adjusted Pro Forma Net Income Attributable to Evercore Partners Inc. was
$24.3 million, or $0.53 per share, for the third quarter, compared to $17.3
million, or $0.40 per share, a year ago and $29.5 million, or $0.65 per share,
last quarter. Adjusted Pro Forma Net Income Attributable to Evercore Partners
Inc. was $70.6 million, or $1.54 per share, for the nine months ended
September 30, 2013, compared to $42.8 million, or $0.98 per share, for the
same period last year.

The U.S. GAAP compensation ratio for the three months ended September 30,
2013, September 30, 2012 and June 30, 2013 was 63.2%, 66.2% and 63.5%,
respectively. The U.S. GAAP trailing twelve-month compensation ratio of 64.0%
compares to 68.6% for the twelve months ended September 30, 2012 and 64.6% for
the twelve months ended June 30, 2013. The Adjusted Pro Forma compensation
ratio for the current quarter was 59.2%, compared to 59.9% and 58.9% for the
quarters ended September 30, 2012 and June 30, 2013, respectively. The
Adjusted Pro Forma compensation ratio for the trailing twelve months was
58.9%, compared to 59.5% for the same period in 2012 and 59.0% for the twelve
months ended June 30, 2013.

Evercore’s quarterly results may fluctuate significantly due to the timing and
amount of transaction fees earned, as well as other factors. Accordingly,
financial results in any particular quarter may not be representative of
future results over a longer period of time.

“We are pleased with our third quarter results, as we reported the third best
quarter in our history for both revenues and earnings. Our strong performance
was driven by consistent market share gains in our Advisory business, as
clients continue to embrace our independent advisory model, seeking our advice
on mergers & acquisitions, divestitures, restructuring, capital markets and
fund raising transactions. Our Equities business was profitable and continued
to gain share in a seasonally slow quarter; and our Investment Management
businesses benefited from strong investment performance and continued growth
in assets under management,” said Ralph Schlosstein, President and Chief
Executive Officer. “Our results also demonstrate our commitment to delivering
returns to our shareholders as our operating margins remained strong, our
quarterly dividend was increased to $0.25 per share, a 14% increase and our
share buyback authorization was increased to a maximum of $250 million, or 5
million shares.”

“Evercore continued to experience strong investment banking momentum, as
revenues for the first three quarters are up 30%. Our investment banking
revenues of $161 million represent the third best quarterly result in our
history, as we earned fees of $1 million or more from 31 clients. We completed
our Senior Managing Director hiring for the year, announcing the addition of
Matthew McAskin to our Healthcare Services Team and the addition of Fernando
Soriano to increase our coverage of Latin America and Spain,” said Roger
Altman, Executive Chairman. “Our brand continues to be highly regarded by both
clients and recruits and we remain optimistic about our ability to add talent
in the coming year.”

                                                                                                           
Consolidated U.S. GAAP and Adjusted Pro Forma Selected Financial Data (Unaudited)
                                                                                                                              
                     U.S. GAAP
                     Three Months Ended                              % Change vs.             Nine Months Ended
                     September       June 30,        September       June       September     September       September       %
                     30,             2013            30,             30,        30,           30,             30,             Change
                     2013                            2012            2013       2012          2013            2012
                     (dollars in thousands)
Net Revenues         $ 187,980       $ 207,446       $ 153,029       (9  %)     23    %       $ 546,848       $ 428,324       28   %
Operating            $ 29,057        $ 38,062        $ 14,245        (24 %)     104   %       $ 82,063        $ 23,297        252  %
Income
Net Income
Attributable
to Evercore          $ 13,962        $ 16,426        $ 5,301         (15 %)     163   %       $ 36,357        $ 9,867         268  %
Partners
Inc.
Diluted
Earnings Per         $ 0.36          $ 0.44          $ 0.17          (18 %)     112   %       $ 0.96          $ 0.31          210  %
Share
Compensation           63.2    %       63.5    %       66.2    %                                64.5    %       69.2    %
Ratio
Operating              15.5    %       18.3    %       9.3     %                                15.0    %       5.4     %
Margin
                                                                                                                              
                     Adjusted Pro Forma
                     Three Months Ended                              % Change vs.             Nine Months Ended
                     September       June 30,        September       June       September     September       September
                     30,                             30,             30,        30,           30,             30,             %
                                     2013                                                                                     Change
                     2013                            2012            2013       2012          2013            2012
                     (dollars in thousands)
Net Revenues         $ 187,124       $ 206,761       $ 149,247       (9  %)     25    %       $ 547,239       $ 426,883       28   %
Operating            $ 42,382        $ 51,148        $ 29,391        (17 %)     44    %       $ 123,525       $ 74,774        65   %
Income
Net Income
Attributable
to Evercore          $ 24,284        $ 29,511        $ 17,275        (18 %)     41    %       $ 70,641        $ 42,777        65   %
Partners
Inc.
Diluted
Earnings Per         $ 0.53          $ 0.65          $ 0.40          (18 %)     33    %       $ 1.54          $ 0.98          57   %
Share
Compensation           59.2    %       58.9    %       59.9    %                                59.2    %       60.6    %
Ratio
Operating              22.6    %       24.7    %       19.7    %                                22.6    %       17.5    %
Margin
                                                                                                                              

Throughout the discussion of Evercore’s business segments, information is
presented on an Adjusted Pro Forma basis, which is an unaudited non-generally
accepted accounting principles (“non-GAAP”) measure. Adjusted Pro Forma
results begin with information prepared in accordance with accounting
principles generally accepted in the United States of America (“U.S. GAAP”),
and then those results are adjusted to exclude certain items and reflect the
conversion of vested and unvested Evercore LP Units into Class A shares.
Evercore believes that the disclosed Adjusted Pro Forma measures and any
adjustments thereto, when presented in conjunction with comparable U.S. GAAP
measures, are useful to investors to compare Evercore’s results across several
periods and facilitate an understanding of Evercore’s operating results.
Evercore uses these measures to evaluate its operating performance, as well as
the performance of individual employees. These measures should not be
considered a substitute for, or superior to, measures of financial performance
prepared in accordance with U.S. GAAP. For more information about the Adjusted
Pro Forma basis of reporting used by management to evaluate the performance of
Evercore and each line of business, including reconciliations of U.S. GAAP
results to an Adjusted Pro Forma basis, see pages A-2 through A-11 included in
Annex I. These Adjusted Pro Forma amounts are allocated to the Company’s two
business segments: Investment Banking and Investment Management.

Business Line Reporting

A discussion of Adjusted Pro Forma revenues and expenses is presented below
for the Investment Banking and Investment Management segments. Unless
otherwise stated, all of the financial measures presented in this discussion
are Adjusted Pro Forma measures. For a reconciliation of the Adjusted Pro
Forma segment data to U.S. GAAP results, see pages A-2 to A-11 in Annex I.

Investment Banking

                     U.S. GAAP
                         Three Months Ended                            Nine Months Ended
                         September                       September       September       September
                         30,           June 30,      30,             30,           30,
                         2013            2013            2012            2013
                                                                                         2012
                         (dollars in thousands)
Net Revenues:
Investment               $ 163,975       $ 183,454       $ 133,850       $ 478,812       $ 372,771
Banking Revenues
Other Revenue,            (330    )      (849    )      (435    )      (966    )      (2,407  )
net
Net Revenues              163,645       182,605       133,415       477,846       370,364 
                                                                                         
Expenses:
Employee
Compensation and           104,139         117,451         88,774          309,459         257,757
Benefits
Non-compensation           29,760          30,394          30,180          87,206          86,199
Costs
Special Charges           -             -             -             -             662     
Total Expenses            133,899       147,845       118,954       396,665       344,618 
                                                                                         
Operating Income         $ 29,746       $ 34,760       $ 14,461       $ 81,181       $ 25,746  
                                                                                         
Compensation               63.6    %       64.3    %       66.5    %       64.8    %       69.6    %
Ratio
Operating Margin           18.2    %       19.0    %       10.8    %       17.0    %       7.0     %
                                                                                         

                                                                              
                         Adjusted Pro Forma
                         Three Months Ended                              Nine Months Ended
                         September       June 30,        September       September       September
                         30,           2013            30,             30,             30,
                         2013                            2012            2013            2012
                         (dollars in thousands)
Net Revenues:
Investment               $ 160,543       $ 180,033       $ 127,588       $ 469,657       $ 363,605
Banking Revenues
Other Revenue,            768           246           647           2,315         820     
net
Net Revenues              161,311       180,279       128,235       471,972       364,425 
                                                                                         
Expenses:
Employee
Compensation and           96,712          107,995         77,331          282,721         221,622
Benefits
Non-compensation          26,328        26,683        23,504        77,591        72,373  
Costs
Total Expenses            123,040       134,678       100,835       360,312       293,995 
                                                                                         
Operating Income         $ 38,271       $ 45,601       $ 27,400       $ 111,660      $ 70,430  
                                                                                         
Compensation               60.0    %       59.9    %       60.3    %       59.9    %       60.8    %
Ratio
Operating Margin           23.7    %       25.3    %       21.4    %       23.7    %       19.3    %
                                                                                                   

For the third quarter, Evercore’s Investment Banking segment reported Net
Revenues of $161.3 million, which represents an increase of 26% year-over-year
and a decrease of 11% sequentially. Operating Income of $38.3 million
increased 40% from the third quarter of last year and decreased 16%
sequentially. Operating Margins were 23.7% in comparison to 21.4% for the
third quarter last year, and 25.3% for the second quarter this year. For the
nine months ended September 30, 2013, Investment Banking reported Net Revenues
of $472.0 million, an increase of 30% from last year. Year-to-date Operating
Income was $111.7 million compared to $70.4 million last year, an increase of
59%. Year-to-date Operating Margins were 23.7%, compared to 19.3% last year.

Revenues

During the quarter, Investment Banking earned advisory fees from 136 clients
(vs. 147 in Q3 2012 and 157 in Q2 2013) and fees in excess of $1 million from
31 transactions (vs. 30 in Q3 2012 and 38 in Q2 2013). For the first nine
months of the year, Investment Banking earned advisory fees from 269 clients
(vs. 255 last year) and fees in excess of $1 million from 95 transactions (vs.
77 last year).

The Institutional Equities business contributed revenues of $8.5 million in
the quarter, down 13% in comparison to the second quarter, reflecting lower
levels of activity in the markets in the quarter, but up 65% from the third
quarter of 2012.

Expenses

Compensation costs were $96.7 million for the third quarter, an increase of
25% year-over-year and a decrease of 10% sequentially. Evercore’s Investment
Banking compensation ratio was 60.0% for the third quarter, versus the
compensation ratio reported for the three months ended September 30, 2012 and
June 30, 2013 of 60.3% and 59.9%, respectively. The trailing twelve-month
compensation ratio was 59.2%, down from 59.5% a year ago and flat from 59.2%
in the previous quarter. Year to-date compensation costs were $282.7 million,
an increase of 28% from the prior year, consistent with the 30% increase in
revenues.

Non-compensation costs for the current quarter were $26.3 million, up 12% from
the same period last year and down 1% sequentially. The increase in costs
versus the prior year reflects the addition of personnel within the business.
The ratio of non-compensation costs to net revenue for the current quarter was
16.3%, compared to 18.3% in the same quarter last year and 14.8% in the
previous quarter. Year-to-date non-compensation costs were $77.6 million, up
7% from the prior year. The ratio of non-compensation costs to revenue for the
nine months ended September 30, 2013 was 16.4%, compared to 19.9% last year.

Expenses in the Institutional Equities business were $8.2 million for the
third quarter, a decrease of 14% from the previous quarter, principally
reflecting lower compensation consistent with lower levels of revenues earned
in the period.

Investment Management

                                                                          
                         U.S. GAAP
                         Three Months Ended                             Nine Months Ended
                         September       June 30,       September       September      September
                         30,             2013           30,             30,            30,
                         2013                           2012            2013           2012
Net Revenues:            (dollars in thousands)
Investment
Management               $ 24,890        $ 25,738       $ 20,434        $ 72,167       $ 60,234
Revenues
Other Revenue,            (555   )       (897   )      (820   )       (3,165 )      (2,274 )
net
Net Revenues              24,335        24,841       19,614        69,002       57,960 
                                                                                       
Expenses:
Employee
Compensation and           14,598          14,342         12,590          43,143         38,624
Benefits
Non-compensation           7,708           7,197          7,240           22,259         21,785
Costs
Special Charges           2,718         -            -             2,718        -      
Total Expenses            25,024        21,539       19,830        68,120       60,409 
                                                                                       
Operating Income         $ (689   )      $ 3,302       $ (216   )      $ 882         $ (2,449 )
(Loss)
                                                                                       
Compensation               60.0   %        57.7   %       64.2   %        62.5   %       66.6   %
Ratio
Operating Margin           (2.8   %)       13.3   %       (1.1   %)       1.3    %       (4.2   %)
                                                                                       

                                                                         
                         Adjusted Pro Forma
                         Three Months Ended                           Nine Months Ended
                         September      June 30,       September      September      September
                         30,           2013           30,            30,            30,
                         2013                          2012           2013           2012
Net Revenues:            (dollars in thousands)
Investment
Management               $ 25,441       $ 26,455       $ 20,918       $ 73,979       $ 62,005
Revenues
Other Revenue,            372          27           94           1,288        453    
net
Net Revenues              25,813       26,482       21,012       75,267       62,458 
                                                                                     
Expenses:
Employee
Compensation and           14,087         13,828         11,994         41,450         36,928
Benefits
Non-compensation          7,615        7,107        7,027        21,952       21,186 
Costs
Total Expenses            21,702       20,935       19,021       63,402       58,114 
                                                                                     
Operating Income         $ 4,111       $ 5,547       $ 1,991       $ 11,865      $ 4,344  
                                                                                     
Compensation               54.6   %       52.2   %       57.1   %       55.1   %       59.1   %
Ratio
Operating Margin           15.9   %       20.9   %       9.5    %       15.8   %       7.0    %
                                                                                     

For the third quarter, Investment Management reported Net Revenues and
Operating Income of $25.8 million and $4.1 million, respectively. Investment
Management reported a third quarter Operating Margin of 15.9%.  For the nine
months ended September 30, 2013, Investment Management reported Net Revenues
and Operating Income of $75.3 million and $11.9 million, respectively. The
year-to-date Operating Margin was 15.8%, compared to 7.0% last year. As of
September 30, 2013, Investment Management reported $14.2 billion of AUM, an
increase of 5% from June 30, 2013.

Revenues

                                                                
Investment
Management
Revenue
Components
                      Adjusted Pro Forma
                      Three Months Ended                       Nine Months Ended
                      September     June 30,     September     September     September
                      30,           2013         30,           30,           30,
                      2013                       2012          2013          2012
Investment
Advisory and          (dollars in thousands)
Management
Fees
Wealth                $  7,658      $ 7,214      $  5,269      $  21,523     $ 14,700
Management
Institutional
Asset                    10,689       11,166        11,459        32,228       36,340
Management
(1)
Private                 2,351       3,733        1,856        8,275       5,401  
Equity
Total
Investment
Advisory and            20,698      22,113       18,584       62,026      56,441 
Management
Fees
                                                                             
Realized and
Unrealized
Gains
(Losses)
Institutional
Asset                    1,518        1,544         1,296         4,867        3,625
Management
Private                 2,663       2,073        423          5,213       (185   )
Equity
Total
Realized and            4,181       3,617        1,719        10,080      3,440  
Unrealized
Gains
                                                                             
Equity in
Earnings of             562         725          615          1,873       2,124  
Affiliates
(2)
Investment
Management            $  25,441     $ 26,455     $  20,918     $  73,979     $ 62,005 
Revenues
                                                                                      

(1) Management fees from Institutional Asset Management were $10.7 million,
$11.2 million and $11.6 million for the three months ended September 30, 2013,
June 30, 2013 and September 30, 2012, respectively, and $32.3 million and
$36.7 million for the nine months ended September 30, 2013 and 2012,
respectively, on a U.S. GAAP basis, excluding the reduction of revenues for
client-related expenses.

(2) Equity in G5, ABS and Pan on a U.S. GAAP basis are reclassified from
Investment Management Revenue to Income from Equity Method Investments. The
Company’s investment in Pan was consolidated during the first quarter of 2013.



Investment Advisory and Management Fees of $20.7 million for the quarter ended
September 30, 2013 increased compared to the same period a year ago, as higher
fees in Wealth Management and Private Equity were partially offset by declines
in Institutional Asset Management.

Realized and Unrealized Gains of $4.2 million in the quarter increased
relative to the prior year and to the previous quarter; the change relative to
the prior periods was driven principally by Private Equity gains, including
carry.

Equity in Earnings of Affiliates of $0.6 million in the quarter decreased
relative to the prior year and the prior quarter.

Expenses

Investment Management’s third quarter expenses were $21.7 million, up 14%
compared to the third quarter of 2012 and 4% compared to the previous quarter,
driven principally by higher levels of compensation. Year-to-date Investment
Management expenses were $63.4 million, up 9% from a year ago.

Recent Developments

As part of an ongoing strategic initiative, the Company determined that there
was a decline in the fair value of its investment in Evercore Pan Asset
Management, a 68% owned wealth management affiliate. As a consequence, the
company incurred an impairment charge of $2.7 million, included in other U.S.
GAAP expenses, for the three month period ended September 30, 2013. Evercore
Pan-Asset managed one billion dollars of assets for clients at September 30,
2013 and generated $0.7 million of revenue for the three month period.

Other U.S. GAAP Expenses

Evercore’s Adjusted Pro Forma Net Income Attributable to Evercore Partners
Inc. for the three and nine months ended September 30, 2013 was higher than
U.S. GAAP as a result of the exclusion of expenses associated with the vesting
of IPO equity awards and awards granted in conjunction with the Lexicon
acquisition, Special Charges and certain business acquisition-related costs.
In addition, for Adjusted Pro Forma purposes, client related expenses and
expenses associated with revenue-sharing engagements with third parties have
been presented as a reduction from Revenues and Non-compensation costs.
Further details of these expenses, as well as an explanation of similar
expenses for the three and nine months ended September 30, 2012 and the three
months ended June 30, 2013, are included in Annex I, pages A-2 to A-11.

Non-controlling Interests

Non-controlling Interests in certain subsidiaries are owned by the principals
and strategic investors in these businesses. Evercore’s equity ownership
percentages in these businesses range from 51% to 72%. For the periods ended
September 30, 2013, June 30, 2013, and September 30, 2012 the gain (loss)
allocated to non-controlling interests was as follows:

                                                            
                   Net Gain (Loss) Allocated to Noncontrolling Interests
                   Three Months Ended                 Nine Months Ended
                   September     June     September     September     September
                   30,           30,     30,           30,           30,
                   2013          2013     2012          2013          2012
Segment            (dollars in thousands)
Investment
Banking            $   112       $ 189    $  (742 )     $  696        $ (1,005 )
(1)
Investment
Management            626        759      452         1,497       896    
(1)
Total              $   738       $ 948    $  (290 )     $  2,193      $ (109   )
                                                                      

(1) The difference between the above Adjusted Pro Forma and U.S. GAAP
Noncontrolling Interests relates primarily to intangible amortization expense
for certain acquisitions which we excluded from the Adjusted Pro Forma
results.



On July 19, 2013, the Company purchased, at fair value, all of the
noncontrolling interest in Evercore Trust Company for $7.9 million.

Income Taxes

For the three and nine months ended September 30, 2013 and September 30, 2012,
Evercore’s Adjusted Pro Forma effective tax rate was 38%.

For the three and nine months ended September 30, 2013, Evercore’s U.S. GAAP
effective tax rate was approximately 38% and 42%, respectively, compared to
49% and 46% for the three and nine months ended September 30, 2012,
respectively. The effective tax rate for U.S. GAAP purposes reflects
significant adjustments relating to the tax treatment of certain compensation
transactions, non-controlling interest associated with Evercore LP Units,
state, local and foreign taxes, and other adjustments.

Balance Sheet

The Company continues to maintain a strong balance sheet, holding cash, cash
equivalents and marketable securities of $284.8 million at September 30, 2013.
Current assets exceed current liabilities by $225.3 million at September 30,
2013. Amounts due related to the Long-Term Notes Payable were $102.7 million
at September 30, 2013.

Capital Transactions

On October 23, 2013, the Board of Directors of Evercore increased the
quarterly dividend to $0.25 per share, a 14% increase. The dividend will be
paid on December 13, 2013 to common stockholders of record on November 29,
2013.

During the quarter the Company repurchased approximately 89,000 shares at an
average cost per share of $44.30.

Conference Call

Investors and analysts may participate in the live conference call by dialing
(877) 474-9505 (toll-free domestic) or (857) 244-7558 (international);
passcode: 98047805. Please register at least 10 minutes before the conference
call begins. A replay of the call will be available for one week via telephone
starting approximately one hour after the call ends. The replay can be
accessed at (888) 286-8010 (toll-free domestic) or (617) 801-6888
(international); passcode: 19231107. A live webcast of the conference call
will be available on the Investor Relations section of Evercore’s website at
www.evercore.com. The webcast will be archived on Evercore’s website for 30
days after the call.

About Evercore

Evercore is a leading independent investment banking advisory firm. Evercore’s
Investment Banking business advises its clients on mergers, acquisitions,
divestitures, restructurings, financings, public offerings, private placements
and other strategic transactions and also provides institutional investors
with high quality research, sales and trading execution that is free of the
conflicts created by proprietary activities. Evercore’s Investment Management
business comprises wealth management, institutional asset management and
private equity investing. Evercore serves a diverse set of clients around the
world from its offices in New York, Boston, Chicago, Minneapolis, Houston, Los
Angeles, San Francisco, Washington D.C., Toronto, London, Aberdeen, Scotland,
Mexico City and Monterrey, Mexico, Hong Kong, and Rio de Janeiro and São
Paulo, Brazil. More information about Evercore can be found on the Company’s
website at www.evercore.com.

Basis of Alternative Financial Statement Presentation

Adjusted Pro Forma results are a non-GAAP measure. Evercore believes that the
disclosed Adjusted Pro Forma measures and any adjustments thereto, when
presented in conjunction with comparable U.S. GAAP measures, are useful to
investors to compare Evercore’s results across several periods and better
reflect management’s view of operating results. These measures should not be
considered a substitute for, or superior to, measures of financial performance
prepared in accordance with U.S. GAAP. A reconciliation of U.S. GAAP results
to Adjusted Pro Forma results is presented in the tables included in Annex I.

Forward-Looking Statements

This release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, which reflect our current views with respect to, among other
things, Evercore’s operations and financial performance. In some cases, you
can identify these forward-looking statements by the use of words such as
“outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,”
“should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,”
“estimates,” “anticipates” or the negative version of these words or other
comparable words. All statements other than statements of historical fact
included in this presentation are forward-looking statements and are based on
various underlying assumptions and expectations and are subject to known and
unknown risks, uncertainties and assumptions, and may include projections of
our future financial performance based on our growth strategies and
anticipated trends in Evercore’s business. Accordingly, there are or will be
important factors that could cause actual outcomes or results to differ
materially from those indicated in these statements. Evercore believes these
factors include, but are not limited to, those described under “Risk Factors”
discussed in Evercore’s Annual Report on Form 10-K for the year ended December
31, 2012, subsequent quarterly reports on Form 10-Q, current reports on Form
8-K and Registration Statements. These factors should not be construed as
exhaustive and should be read in conjunction with the other cautionary
statements that are included in this release. In addition, new risks and
uncertainties emerge from time to time, and it is not possible for Evercore to
predict all risks and uncertainties, nor can Evercore assess the impact of all
factors on our business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those contained in
any forward-looking statements. Accordingly, you should not rely upon
forward-looking statements as a prediction of actual results and Evercore does
not assume any responsibility for the accuracy or completeness of any of these
forward-looking statements. Evercore undertakes no obligation to publicly
update or review any forward-looking statement, whether as a result of new
information, future developments or otherwise.

With respect to any securities offered by any private equity fund referenced
herein, such securities have not been and will not be registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements.

                                                              
                                                                   
ANNEX I
                                                                   
                                                              
Schedule                                                       Page Number
Unaudited Condensed Consolidated Statements of Operations
for the                                                        A-1
Three and Nine Months Ended September 30, 2013 and 2012
Adjusted Pro Forma:                                            
Adjusted Pro Forma Results (Unaudited)                         A-2
U.S. GAAP Reconciliation to Adjusted Pro Forma (Unaudited)     A-4
U.S. GAAP Segment Reconciliation to Adjusted Pro Forma for
the                                                            A-6
Three and Nine Months ended September 30, 2013 (Unaudited)
U.S. GAAP Segment Reconciliation to Adjusted Pro Forma for
the                                                            A-7
Three Months ended June 30, 2013 (Unaudited)
U.S. GAAP Segment Reconciliation to Adjusted Pro Forma for
the                                                            A-8
Three and Nine Months ended September 30, 2012 (Unaudited)
Notes to Unaudited Condensed Consolidated Adjusted Pro
Forma                                                          A-9
Financial Data
                                                                   
                                                                   



EVERCORE PARTNERS INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2013 AND 2012
(dollars in thousands, except per share data)
(UNAUDITED)
                                                            
                         Three Months Ended           Nine Months Ended
                         September 30,                September 30,
                         2013           2012          2013           2012
                                                                     
Revenues
Investment               $  163,975     $  133,850    $  478,812     $ 372,771
Banking Revenue
Investment
Management                  24,890         20,434        72,167        60,234
Revenue
Other Revenue              2,934         2,760        6,155        6,649
Total Revenues              191,799        157,044       557,134       439,654
Interest Expense           3,819         4,015        10,286       11,330
(1)
Net Revenues               187,980       153,029      546,848      428,324
                                                                     
Expenses
Employee
Compensation and            118,737        101,364       352,602       296,381
Benefits
Occupancy and               8,660          8,882         25,657        26,273
Equipment Rental
Professional                10,005         10,752        27,275        26,080
Fees
Travel and                  7,832          6,802         23,297        21,183
Related Expenses
Communications
and Information             3,094          2,915         9,938         8,731
Services
Depreciation and            3,645          3,828         10,864        12,870
Amortization
Special Charges             2,718          -             2,718         662
Acquisition and             -              -             58            148
Transition Costs
Other Operating            4,232         4,241        12,376       12,699
Expenses
Total Expenses             158,923       138,784      464,785      405,027
                                                                     
Income Before
Income from
Equity Method               29,057         14,245        82,063        23,297
Investments and
Income Taxes
Income from
Equity Method              562           415          2,333        3,519
Investments
Income Before               29,619         14,660        84,396        26,816
Income Taxes
Provision for              11,365        7,187        35,753       12,322
Income Taxes
Net Income                  18,254         7,473         48,643        14,494
Net Income
Attributable to            4,292         2,172        12,286       4,627
Noncontrolling
Interest
Net Income
Attributable to          $  13,962      $  5,301      $  36,357      $ 9,867
Evercore
Partners Inc.
                                                                     
Net Income
Attributable to
Evercore                 $  13,941      $  5,280      $  36,294      $ 9,804
Partners Inc.
Common
Shareholders
                                                                     
Weighted Average
Shares of Class
A Common Stock
Outstanding:
Basic                       32,049         28,841        31,908        29,063
Diluted                     38,409         31,440        37,880        31,973
                                                                     
Net Income Per
Share
Attributable to
Evercore
Partners Inc.
Common
Shareholders:
Basic                    $  0.43        $  0.18       $  1.14        $ 0.34
Diluted                  $  0.36        $  0.17       $  0.96        $ 0.31
                                                                     
                                                                     
(1) Includes interest expense on long-term debt and interest expense on
short-term repurchase agreements.



A - 1



Adjusted Pro Forma Results

Throughout the discussion of Evercore’s business segments, information is
presented on an Adjusted Pro Forma basis, which is a non-generally accepted
accounting principles (“non-GAAP”) measure. Adjusted Pro Forma results begin
with information prepared in accordance with accounting principles generally
accepted in the United States of America (“U.S. GAAP”), adjusted to exclude
certain items and reflect the conversion of vested and unvested Evercore LP
Units, other IPO related restricted stock unit awards, as well as Acquisition
Related Share Issuances and Unvested Restricted Stock Units granted to Lexicon
employees, into Class A shares. Evercore believes that the disclosed Adjusted
Pro Forma measures and any adjustments thereto, when presented in conjunction
with comparable U.S. GAAP measures, are useful to investors to compare
Evercore’s results across several periods and facilitate an understanding of
Evercore’s operating results. The Company uses these measures to evaluate its
operating performance, as well as the performance of individual employees.
These measures should not be considered a substitute for, or superior to,
measures of financial performance prepared in accordance with U.S. GAAP. These
Adjusted Pro Forma amounts are allocated to the Company’s two business
segments: Investment Banking and Investment Management. The differences
between Adjusted Pro Forma and U.S. GAAP results are as follows:

1. Assumed Vesting of Evercore LP Units and Exchange into Class A Shares. The
Company incurred expenses, primarily, in Employee Compensation and Benefits,
resulting from the modification of Evercore LP Units, which will vest
generally over a five-year period. The Adjusted Pro Forma results assume these
LP Units have vested and have been exchanged for Class A shares. Accordingly,
any expense associated with these units and related awards is excluded from
Adjusted Pro Forma results and the noncontrolling interest related to these
units is converted to controlling interest. The Company’s Management believes
that it is useful to provide the per-share effect associated with the assumed
conversion of this previously granted but unvested equity, and thus the
Adjusted Pro Forma results reflect the vesting of all unvested Evercore LP
partnership units and IPO related restricted stock unit awards.

2. Adjustments Associated with Business Combinations. The following charges
resulting from business combinations have been excluded from Adjusted Pro
Forma results because the Company’s Management believes that operating
performance is more comparable across periods excluding the effects of these
acquisition-related charges;

a. Amortization of Intangible Assets. Amortization of intangible assets
related to the Protego acquisition, the Braveheart acquisition and the
acquisitions of SFS and Lexicon.

b. Compensation Charges. Expenses for deferred share-based and cash
consideration and retention awards associated with the acquisition of Lexicon,
as well as base salary adjustments for Lexicon employees for the period
preceding the acquisition.

c. Special Charges. Expenses primarily related to the impairment of Goodwill
in the Evercore Pan-Asset Management reporting unit in 2013 and exiting the
legacy office space in the UK in 2012.

d. Foreign Exchange Gains / (Losses). Release of foreign exchange losses
related to the consolidation of Pan, previously accounted for under the equity
method.

3. Client Related Expenses. Client related expenses, expenses associated with
revenue sharing engagements with third parties and provisions for uncollected
receivables, have been classified as a reduction of revenue in the Adjusted
Pro Forma presentation. The Company’s Management believes that this adjustment
results in more meaningful key operating ratios, such as compensation to net
revenues and operating margin.

4. Income Taxes. Evercore is organized as a series of Limited Liability
Companies, Partnerships, a C-Corporation and a Public Corporation and
therefore, not all of the Company’s income is subject to corporate-level
taxes. As a result, adjustments have been made to the Adjusted Pro Forma
earnings to assume that the Company has adopted a conventional corporate tax
structure and is taxed as a C-Corporation in the U.S. at the prevailing
corporate rates, that all deferred tax assets relating to foreign operations
are fully realizable within the structure on a consolidated basis and that
adjustments for deferred tax assets related to the ultimate tax deductions for
equity-based compensation awards are made directly to stockholders’ equity.
This assumption is consistent with the assumption that all Evercore LP Units
are vested and exchanged into Class A shares, as discussed in Item 1 above, as
the assumed exchange would change the tax structure of the Company.

                                    A - 2

5. Presentation of Interest Expense. The Adjusted Pro Forma results present
interest expense on short-term repurchase agreements, within the Investment
Management segment, in Other Revenues, net, as the Company’s Management
believes it is more meaningful to present the spread on net interest resulting
from the matched financial assets and liabilities. In addition, Adjusted Pro
Forma Investment Banking and Investment Management Operating Income is
presented before interest expense on long-term debt, which is included in
interest expense on a U.S. GAAP basis.

6. Presentation of Income from Equity Method Investments. The Adjusted Pro
Forma results present Income from Equity Method Investments within Revenue as
the Company’s Management believes it is a more meaningful presentation.

                                    A - 3

                                                                          
                                                                                       
EVERCORE PARTNERS INC.
U.S. GAAP RECONCILIATION TO ADJUSTED PRO FORMA
(dollars in thousands)
(UNAUDITED)
                                                                                       
                       Three Months Ended                              Nine Months Ended
                       September       June 30,        September       September       September
                       30,                             30,             30,             30,
                                       2013
                       2013                            2012            2013            2012
Net Revenues -         $ 187,980       $ 207,446       $ 153,029       $ 546,848       $ 428,324
U.S. GAAP
Client Related           (3,443  )       (3,719  )       (6,193  )       (9,676  )       (10,914 )
Expenses (1)
Income from
Equity Method            562             1,015           415             2,333           3,519
Investments
(2)
Interest
Expense on               2,025           2,019           1,996           6,051           5,954
Long-term Debt
(3)
Foreign
Exchange
Losses from             -             -             -             1,683         -       
Pan
Consolidation
(4)
Net Revenues -
Adjusted Pro           $ 187,124      $ 206,761      $ 149,247      $ 547,239      $ 426,883 
Forma
                                                                                       
Compensation
Expense - U.S.         $ 118,737       $ 131,793       $ 101,364       $ 352,602       $ 296,381
GAAP
Amortization
of LP Units
and Certain              (4,815  )       (4,814  )       (5,237  )       (15,206 )       (15,032 )
Other Awards
(5)
Acquisition
Related                 (3,123  )      (5,156  )      (6,802  )      (13,225 )      (22,799 )
Compensation
Charges (6)
Compensation
Expense -              $ 110,799      $ 121,823      $ 89,325       $ 324,171      $ 258,550 
Adjusted Pro
Forma
                                                                                       
Operating
Income - U.S.          $ 29,057        $ 38,062        $ 14,245        $ 82,063        $ 23,297
GAAP
Income from
Equity Method           562           1,015         415           2,333         3,519   
Investments
(2)
Pre-Tax Income           29,619          39,077          14,660          84,396          26,816
- U.S. GAAP
Foreign
Exchange
Losses from              -               -               -               1,683           -
Pan
Consolidation
(4)
Amortization
of LP Units
and Certain              4,815           4,814           5,462           15,206          15,273
Other Awards
(5)
Acquisition
Related                  3,123           5,156           6,802           13,225          22,799
Compensation
Charges (6)
Special                  2,718           -               -               2,718           662
Charges (7)
Intangible
Asset                   82            82            471           246           3,270   
Amortization
(8a)
Pre-Tax Income
- Adjusted Pro           40,357          49,129          27,395          117,474         68,820
Forma
Interest
Expense on              2,025         2,019         1,996         6,051         5,954   
Long-term Debt
(3)
Operating
Income -               $ 42,382       $ 51,148       $ 29,391       $ 123,525      $ 74,774  
Adjusted Pro
Forma
                                                                                       
Provision for
Income Taxes -         $ 11,365        $ 17,066        $ 7,187         $ 35,753        $ 12,322
U.S. GAAP
Income Taxes            3,970         1,604         3,223         8,887         13,830  
(9)
Provision for
Income Taxes -         $ 15,335       $ 18,670       $ 10,410       $ 44,640       $ 26,152  
Adjusted Pro
Forma
                                                                                       
Net Income -           $ 18,254        $ 22,011        $ 7,473         $ 48,643        $ 14,494
U.S. GAAP
Net Income
Attributable
to                      4,292         5,585         2,172         12,286        4,627   
Noncontrolling
Interest
Net Income
Attributable
to Evercore              13,962          16,426          5,301           36,357          9,867
Partners Inc.
- U.S. GAAP
Foreign
Exchange
Losses from              -               -               -               1,683           -
Pan
Consolidation
(4)
Amortization
of LP Units
and Certain              4,815           4,814           5,462           15,206          15,273
Other Awards
(5)
Acquisition
Related                  3,123           5,156           6,802           13,225          22,799
Compensation
Charges (6)
Special                  2,718           -               -               2,718           662
Charges (7)
Intangible
Asset                    82              82              471             246             3,270
Amortization
(8a)
Income Taxes             (3,970  )       (1,604  )       (3,223  )       (8,887  )       (13,830 )
(9)
Noncontrolling          3,554         4,637         2,462         10,093        4,736   
Interest (10)
Net Income
Attributable
to Evercore            $ 24,284       $ 29,511       $ 17,275       $ 70,641       $ 42,777  
Partners Inc.
- Adjusted Pro
Forma
                                                                                       
Diluted Shares
Outstanding -            38,409          37,501          31,440          37,880          31,973
U.S. GAAP
Vested
Partnership              5,561           5,829           7,280           5,802           7,500
Units (11a)
Unvested
Partnership              1,441           1,441           2,918           1,441           2,942
Units (11a)
Unvested
Restricted
Stock Units -            12              12              12              12              12
Event Based
(11a)
Acquisition
Related Share           444           626           1,106         588           1,272   
Issuance (11b)
Diluted Shares
Outstanding -           45,867        45,409        42,756        45,723        43,699  
Adjusted Pro
Forma
                                                                                       
Key Metrics:
(a)
Diluted
Earnings Per           $ 0.36          $ 0.44          $ 0.17          $ 0.96          $ 0.31
Share - U.S.
GAAP (b)
Diluted
Earnings Per
Share -                $ 0.53          $ 0.65          $ 0.40          $ 1.54          $ 0.98
Adjusted Pro
Forma (b)
                                                                                       
Compensation
Ratio - U.S.             63.2    %       63.5    %       66.2    %       64.5    %       69.2    %
GAAP
Compensation
Ratio -                  59.2    %       58.9    %       59.9    %       59.2    %       60.6    %
Adjusted Pro
Forma
                                                                                       
Operating
Margin - U.S.            15.5    %       18.3    %       9.3     %       15.0    %       5.4     %
GAAP
Operating
Margin -                 22.6    %       24.7    %       19.7    %       22.6    %       17.5    %
Adjusted Pro
Forma
                                                                                       
Effective Tax
Rate - U.S.              38.4    %       43.7    %       49.0    %       42.4    %       46.0    %
GAAP
Effective Tax
Rate -                   38.0    %       38.0    %       38.0    %       38.0    %       38.0    %
Adjusted Pro
Forma
                                                                                       


(a) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma
are a derivative of the reconciliations of their components above.

(b) For Earnings Per Share purposes, Net Income Attributable to Evercore
Partners Inc. is reduced by $21 of accretion for the three months ended
September 30, 2013, June 30, 2013 and September 30, 2012, and $63 of accretion
for the nine months ended September 30, 2013 and 2012, related to the
Company's noncontrolling interest in Trilantic Capital Partners.


A - 4



                                                            
                                                                 
EVERCORE PARTNERS INC.
U.S. GAAP RECONCILIATION TO ADJUSTED PRO FORMA
TRAILING TWELVE MONTHS
(dollars in thousands)
(UNAUDITED)
                          
                               Consolidated
                               Twelve Months Ended
                               September 30,     June 30,        September 30,
                               2013              2013            2012
Net Revenues - U.S.            $  760,897        $ 725,946       $  541,105
GAAP
Client Related                    (15,030  )       (17,780 )        (14,294  )
Expenses (1)
Income from Equity                3,666            3,519            3,774
Method Investments (2)
Interest Expense on               8,052            8,023            7,922
Long-term Debt (3)
Foreign Exchange
Losses from Pan                  1,683          1,683          -        
Consolidation (4)
Net Revenues -                 $  759,268       $ 721,391      $  538,507  
Adjusted Pro Forma
                                                                 
Compensation Expense -         $  486,636        $ 469,263       $  371,261
U.S. GAAP
Amortization of LP
Units and Certain                 (20,888  )       (21,310 )        (20,993  )
Other Awards (5)
Acquisition Related
Compensation Charges             (18,589  )      (22,268 )       (29,688  )
(6)
Compensation Expense -         $  447,159       $ 425,685      $  320,580  
Adjusted Pro Forma
                                                                 
Compensation Ratio -              64.0     %       64.6    %        68.6     %
U.S. GAAP (a)
Compensation Ratio -              58.9     %       59.0    %        59.5     %
Adjusted Pro Forma (a)
                                                                 
                               Investment Banking
                               Twelve Months Ended
                               September 30,     June 30,        September 30,
                               2013              2013            2012
Net Revenues - U.S.            $  672,701        $ 642,471       $  462,967
GAAP
Client Related                    (14,805  )       (17,435 )        (13,859  )
Expenses (1)
Income from Equity                1,323            1,123            1,324
Method Investments (2)
Interest Expense on              4,366          4,350          4,294    
Long-term Debt (3)
Net Revenues -                 $  663,585       $ 630,509      $  454,726  
Adjusted Pro Forma
                                                                 
Compensation Expense -         $  430,052        $ 414,687       $  319,061
U.S. GAAP
Amortization of LP
Units and Certain                 (18,541  )       (18,878 )        (18,743  )
Other Awards (5)
Acquisition Related
Compensation Charges             (18,589  )      (22,268 )       (29,688  )
(6)
Compensation Expense -         $  392,922       $ 373,541      $  270,630  
Adjusted Pro Forma
                                                                 
Compensation Ratio -              63.9     %       64.5    %        68.9     %
U.S. GAAP (a)
Compensation Ratio -              59.2     %       59.2    %        59.5     %
Adjusted Pro Forma (a)
                                                                 


(a) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma
are a derivative of the reconciliations of their components above.


A - 5



                                                                                                               
                                                                                                                          
EVERCORE PARTNERS INC.
U.S. GAAP SEGMENT RECONCILIATION TO ADJUSTED PRO FORMA
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2013
(dollars in thousands)
(UNAUDITED)
                    
                         Investment Banking Segment
                         Three Months Ended September 30, 2013                    Nine Months Ended September 30, 2013
                                                                  Non-GAAP                                                Non-GAAP
                         U.S. GAAP        Adjustments             Adjusted        U.S. GAAP      Adjustments             Adjusted
                         Basis                                    Pro             Basis                                   Pro
                                                                  Forma Basis                                             Forma Basis
Net Revenues:
Investment               $ 163,975        $ (3,432  )   (1 )(2)   $ 160,543       $ 478,812       $ (9,155  )   (1 )(2)   $ 469,657
Banking Revenue
Other Revenue,            (330    )       1,098      (3)        768           (966    )      3,281      (3)        2,315   
net
Net Revenues              163,645        (2,334  )              161,311       477,846       (5,874  )              471,972 
                                                                                                                          
Expenses:                                                         
Employee
Compensation and           104,139          (7,427  )   (5 )(6)     96,712          309,459         (26,738 )   (5 )(6)     282,721
Benefits
Non-compensation          29,760         (3,432  )   (5 )(8)    26,328        87,206        (9,615  )   (5 )(8)    77,591  
Costs
Total Expenses            133,899        (10,859 )              123,040       396,665       (36,353 )              360,312 
                                                                                                                          
Operating Income         $ 29,746        $ 8,525                $ 38,271       $ 81,181       $ 30,479               $ 111,660 
(a)
                                                                                                                          
Compensation               63.6    %                                60.0    %       64.8    %                               59.9    %
Ratio (b)
Operating Margin           18.2    %                                23.7    %       17.0    %                               23.7    %
(b)
                                                                                                                          
                         Investment Management Segment
                         Three Months Ended September 30, 2013                   Nine Months Ended September 30, 2013
                                                                  Non-GAAP                                                Non-GAAP
                         U.S. GAAP        Adjustments             Adjusted        U.S. GAAP       Adjustments             Adjusted
                         Basis                                    Pro             Basis                                   Pro
                                                                  Forma Basis                                             Forma Basis
Net Revenues:
Investment
Management               $ 24,890         $ 551         (1 )(2)   $ 25,441        $ 72,167        $ 1,812       (1 )(2)   $ 73,979
Revenue
Other Revenue,            (555    )       927        (3)        372           (3,165  )      4,453      (3 )(4)    1,288   
net
Net Revenues              24,335         1,478                 25,813        69,002        6,265                 75,267  
                                                                                                                          
Expenses:
Employee
Compensation and           14,598           (511    )   (5)         14,087          43,143          (1,693  )   (5)         41,450
Benefits
Non-compensation           7,708            (93     )   (8)         7,615           22,259          (307    )   (8)         21,952
Costs
Special Charges           2,718          (2,718  )   (7)        -             2,718         (2,718  )   (7)        -       
Total Expenses            25,024         (3,322  )              21,702        68,120        (4,718  )              63,402  
                                                                                                                          
Operating Income         $ (689    )      $ 4,800                $ 4,111        $ 882          $ 10,983               $ 11,865  
(Loss) (a)
                                                                                                                          
Compensation               60.0    %                                54.6    %       62.5    %                               55.1    %
Ratio (b)
Operating Margin           (2.8    %)                               15.9    %       1.3     %                               15.8    %
(b)
                                                                                                                          
                                                                                                               

(a) Operating Income for U.S. GAAP excludes Income (Loss) from Equity Method
Investments.

(b) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma
are a derivative of the reconciliations of their components above.


A - 6



                                                              
                                                                   
EVERCORE PARTNERS INC.
U.S. GAAP SEGMENT RECONCILIATION TO ADJUSTED PRO FORMA
FOR THE THREE MONTHS ENDED JUNE 30, 2013
(dollars in thousands)
(UNAUDITED)
                     
                          Investment Banking Segment
                          Three Months Ended June 30, 2013
                                                                   Non-GAAP
                          U.S. GAAP        Adjustments             Adjusted
                          Basis                                    Pro
                                                                   Forma Basis
Net Revenues:
Investment                $  183,454       $ (3,421  )   (1 )(2)   $ 180,033
Banking Revenue
Other Revenue,              (849    )      1,095      (3)        246     
net
Net Revenues                182,605       (2,326  )              180,279 
                                                                   
Expenses:
Employee
Compensation and             117,451         (9,456  )   (5 )(6)     107,995
Benefits
Non-compensation            30,394        (3,711  )   (5 )(8)    26,683  
Costs
Total Expenses              147,845       (13,167 )              134,678 
                                                                   
Operating Income          $  34,760       $ 10,841               $ 45,601  
(a)
                                                                   
Compensation                 64.3    %                               59.9    %
Ratio (b)
Operating Margin             19.0    %                               25.3    %
(b)
                                                                   
                          Investment Management Segment
                          Three Months Ended June 30, 2013
                                                                   Non-GAAP
                          U.S. GAAP        Adjustments             Adjusted
                          Basis                                    Pro
                                                                   Forma Basis
Net Revenues:
Investment
Management                $  25,738        $ 717         (1 )(2)   $ 26,455
Revenue
Other Revenue,              (897    )      924        (3)        27      
net
Net Revenues                24,841        1,641                 26,482  
                                                                   
Expenses:
Employee
Compensation and             14,342          (514    )   (5)         13,828
Benefits
Non-compensation            7,197         (90     )   (8)        7,107   
Costs
Total Expenses              21,539        (604    )              20,935  
                                                                   
Operating Income          $  3,302        $ 2,245                $ 5,547   
(a)
                                                                   
Compensation                 57.7    %                               52.2    %
Ratio (b)
Operating Margin             13.3    %                               20.9    %
(b)
                                                                             
                                                                             

(a) Operating Income (Loss) for U.S. GAAP excludes Income (Loss) from Equity
Method Investments.

(b) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma
are a derivative of the reconciliations of their components above.


A - 7



                                                                                                                
                                                                                                                           
EVERCORE PARTNERS INC.
U.S. GAAP SEGMENT RECONCILIATION TO ADJUSTED PRO FORMA
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2012
(dollars in thousands)
(UNAUDITED)
                    
                         Investment Banking Segment
                         Three Months Ended September 30, 2012                    Nine Months Ended September 30, 2012
                                                                  Non-GAAP                                                 Non-GAAP
                         U.S. GAAP        Adjustments             Adjusted        U.S. GAAP        Adjustments             Adjusted
                         Basis                                    Pro             Basis                                    Pro
                                                                  Forma Basis                                              Forma Basis
Net Revenues:
Investment               $ 133,850        $ (6,262  )   (1 )(2)   $ 127,588       $ 372,771        $ (9,166  )   (1 )(2)   $ 363,605
Banking Revenue
Other Revenue,            (435    )       1,082      (3)        647           (2,407  )       3,227      (3)        820     
net
Net Revenues              133,415        (5,180  )              128,235       370,364        (5,939  )              364,425 
                                                                                                                           
Expenses:
Employee
Compensation and           88,774           (11,443 )   (5 )(6)     77,331          257,757          (36,135 )   (5 )(6)     221,622
Benefits
Non-compensation           30,180           (6,676  )   (5 )(8)     23,504          86,199           (13,826 )   (5 )(8)     72,373
Costs
Special Charges           -              -                     -             662            (662    )   (7)        -       
Total Expenses            118,954        (18,119 )              100,835       344,618        (50,623 )              293,995 
                                                                                                                           
Operating Income         $ 14,461        $ 12,939               $ 27,400       $ 25,746        $ 44,684               $ 70,430  
(a)
                                                                                                                           
Compensation               66.5    %                                60.3    %       69.6    %                                60.8    %
Ratio (b)
Operating Margin           10.8    %                                21.4    %       7.0     %                                19.3    %
(b)
                                                                                                                           
                         Investment Management Segment
                         Three Months Ended September 30, 2012                    Nine Months Ended September 30, 2012
                                                                  Non-GAAP                                                 Non-GAAP
                         U.S. GAAP        Adjustments             Adjusted        U.S. GAAP        Adjustments             Adjusted
                         Basis                                    Pro             Basis                                    Pro
                                                                  Forma Basis                                              Forma Basis
Net Revenues:
Investment
Management               $ 20,434         $ 484         (1 )(2)   $ 20,918        $ 60,234         $ 1,771       (1 )(2)   $ 62,005
Revenue
Other Revenue,            (820    )       914        (3)        94            (2,274  )       2,727      (3)        453     
net
Net Revenues              19,614         1,398                 21,012        57,960         4,498                 62,458  
                                                                                                                           
Expenses:
Employee
Compensation and           12,590           (596    )   (5)         11,994          38,624           (1,696  )   (5)         36,928
Benefits
Non-compensation          7,240          (213    )   (8)        7,027         21,785         (599    )   (8)        21,186  
Costs
Total Expenses            19,830         (809    )              19,021        60,409         (2,295  )              58,114  
                                                                                                                           
Operating Income         $ (216    )      $ 2,207                $ 1,991        $ (2,449  )      $ 6,793                $ 4,344   
(Loss) (a)
                                                                                                                           
Compensation               64.2    %                                57.1    %       66.6    %                                59.1    %
Ratio (b)
Operating Margin           (1.1    %)                               9.5     %       (4.2    %)                               7.0     %
(b)
                                                                                                                                     
                                                                                                                                     

(a) Operating Income (Loss) for U.S. GAAP excludes Income (Loss) from Equity
Method Investments.

(b) Reconciliations of the key metrics from U.S. GAAP to Adjusted Pro Forma
are a derivative of the reconciliations of their components above.


A - 8



Notes to Unaudited Condensed Consolidated Adjusted Pro Forma Financial Data

For further information on these Adjusted Pro Forma adjustments, see page A-2.
    
      Client related expenses, expenses associated with revenue sharing
(1)   engagements with third parties and provisions for uncollected
      receivables, have been reclassified as a reduction of revenue in the
      Adjusted Pro Forma presentation.
      
(2)   Income (Loss) from Equity Method Investments has been reclassified to
      Revenue in the Adjusted Pro Forma presentation.
      
      Interest Expense on Long-term Debt is excluded from the Adjusted Pro
(3)   Forma Investment Banking and Investment Management segment results and
      is included in Interest Expense in the segment results on a U.S. GAAP
      Basis.
      
      Release of foreign exchange losses related to the consolidation of Pan,
(4)   previously accounted for under the equity method, are excluded from the
      Adjusted Pro Forma presentation.
      
      Expenses incurred from the modification of Evercore LP Units and related
(5)   awards, which primarily vest over a five-year period, are excluded from
      the Adjusted Pro Forma presentation.
      
      Expenses for deferred share-based and cash consideration and retention
(6)   awards associated with the acquisition of Lexicon, as well as base
      salary adjustments for Lexicon employees for the period preceding the
      acquisition, are excluded from the Adjusted Pro Forma presentation.
      
      Expenses primarily related to the impairment of Goodwill in the Evercore
(7)   Pan-Asset Management reporting unit in 2013 and exiting the legacy
      office space in the UK in 2012.
      
(8)   Non-compensation Costs on an Adjusted Pro Forma basis reflect the
      following adjustments:
      
      A - 9

                                                                              
                                                                                       
                         Three Months Ended September 30, 2013
                         U.S.       Adjustments        Total        Investment     Investment
                         GAAP                              Segments     Banking        Management
Occupancy and            $ 8,660      $  -                 $ 8,660      $  6,890       $   1,770
Equipment Rental
Professional               10,005        (1,974 )   (1 )     8,031         6,059           1,972
Fees
Travel and                 7,832         (1,405 )   (1 )     6,427         5,801           626
Related Expenses
Communications
and Information            3,094         (6     )   (1 )     3,088         2,522           566
Services
Depreciation and           3,645         (82    )   (8a)     3,563         1,701           1,862
Amortization
Other Operating           4,232        (58    )   (1 )    4,174        3,355          819
Expenses
Total
Non-compensation         $ 37,468     $  (3,525 )          $ 33,943     $  26,328      $   7,615
Costs
                                                                                       
                         Three Months Ended June 30, 2013
                         U.S.         Adjustments          Total        Investment     Investment
                         GAAP                              Segments     Banking        Management
Occupancy and            $ 8,238      $  -                 $ 8,238      $  6,636       $   1,602
Equipment Rental
Professional               9,418         (1,948 )   (1 )     7,470         5,738           1,732
Fees
Travel and                 8,284         (1,596 )   (1 )     6,688         6,090           598
Related Expenses
Communications
and Information            3,424         (9     )   (1 )     3,415         2,930           485
Services
Depreciation and           3,661         (82    )   (8a)     3,579         1,712           1,867
Amortization
Other Operating           4,566        (166   )   (1 )    4,400        3,577          823
Expenses
Total
Non-compensation         $ 37,591     $  (3,801 )          $ 33,790     $  26,683      $   7,107
Costs
                                                                                       
                         Three Months Ended September 30, 2012
                         U.S.         Adjustments          Total        Investment     Investment
                         GAAP                              Segments     Banking        Management
Occupancy and                                                *Story
Equipment Rental         $ 8,882      $  -                 $ too
                                                             large*

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