NOTICE TO PARTICIPANTS IN THE DEWEY &LEBOEUF 401(K) SAVINGS PLAN

Dewey & LeBoeuf, LLP (Dewey & LeBoeuf) maintained the Dewey & LeBoeuf 401(k) Savings Plan (the 401(k) Plan). Dewey & LeBoeuf and the Dewey & LeBoeuf Retirement Investment Committee appointed Gallagher Fiduciary Advisors, LLC (GFA) to be the named fiduciary of the 401(k) Plan, and Benefit Plans Administrative Services, LLC (BPAS) to be the plan administrator of the 401(k) Plan, both effective May 25, 2012. We wish to advise you of the following: 1. Fidelity Management Trust Company (FMTC) is continuing to serve as the 401(k) Plans trustee and recordkeeper, and the investment options available under the 401(k) Plan have not been changed. Your right to direct the investment of your 401(k) Plan account through Fidelity Investments at www.401k.com remains in effect. If you are no longer employed by Dewey & LeBoeuf and have an outstanding loan from your 401(k) Plan account, information about how your separation from employment at Dewey & LeBoeuf affects the loan can also be obtained from www.401k.com as well as from the information package you should have received from Fidelity. 2. Salary deferral contributions to the 401(k) Plan by 401(k) Plan participants still employed by Dewey & LeBoeuf as debtor in possession will continue in accordance with their most recent elections. All rights to change the allocation of those contributions among the 401(k) Plans investment options through Fidelity Investments at www.401k.com remain in effect. The 401(k) Plan has been amended to eliminate the Profit Sharing contribution for the Plans 2012 fiscal year that began January 1, 2012 and any subsequent years. 3. The 401(k) Plan is tested every year for compliance with various requirements of the Internal Revenue Code in order to assure that the 401(k) Plan retains its qualified status under the Code. The testing for the 2011 Plan Year which ended December 31, 2011 has not been completed. In the event that the 401(k) Plan does not pass the tests, a portion of the pre-tax salary deferral contributions made for highly compensated employees (including partners) in 2011 may have to be recharacterized as taxable income, in which event the effected participants will receive a Form 1099 later in the year. If a participant withdrew and rolled over his or her 401(k) Plan account to an IRA or another qualified plan and that amount included a 2011 salary deferral contribution that is so recharacterized, the IRA or other plan will have to distribute that portion of the rollover to the participant. The 401(k) Plan will be tested again in early 2013 with respect to the 2012 Plan Year, with the same possible results with respect to salary deferral contributions made in 2012. 4. In May, 2012 the Firm notified its Retirement/Investment Committee of a separate potential Internal Revenue Code issue regarding the Profit Sharing contribution paid and payable to the 401(k) Plan by Dewey & LeBoeuf in 2012 with respect to the 2011 Plan Year. As a result, FMTC was directed to put a temporary hold on withdrawals from accounts of Plan participants who were partners in Dewey & LeBoeuf pending review of this issue. Resolution of this issue may require reallocation of some or all of the Profit Sharing contributions made for 2011 in 2012. Partners who withdrew their accounts which included Profit Sharing contributions made in 2012 for 2011, and the IRA or qualified plan trustees who received rollovers of such withdrawals, may be required to return any amounts

Page 1 of 2

withdrawn which are determined to be an overpayment. 401(k) Plan participants who were not partners are not affected by the freeze on withdrawals, and if they are no longer employed by Dewey & LeBoeuf they may contact Fidelity to initiate a withdrawal through www.401k.com or by calling Fidelity at 1.800.890.4015 between the hours of 8:30 a.m. and 8:00 p.m. Eastern Time. Dewey & LeBoeuf, GFA and BPAS are also reviewing whether a portion of partners accounts not affected by the issues surrounding the Profit Sharing contribution for 2011 can be released. 5. Partners who desire to withdraw their accounts from the 401(k) Plan but are affected by the freeze on withdrawals retain the right to transfer some or all of their account balances among the investment alternatives available under the 401(k) Plan through www.401k.com. Partners who have been unable to transfer their account balances from the 401(k) Plan should, like all 401(k) Plan participants, consult their personal financial advisor and review the information provided by Fidelity about the risk and return characteristics and other features of the investment options for guidance in deciding how to invest your account balances. 6. The 401(k) Plan provides, All expenses reasonably incurred in the administration of the Plan shall be paid out of the [Plans] Trust (either directly or through reimbursement of Dewey & LeBoeuf for any expenses paid by it), unless paid by [Dewey & LeBoeuf]. Over the years, Dewey & LeBoeuf has paid many of those expenses. Dewey & LeBoeuf is no longer paying any Plan-related expenses. However, the 401(k) Plan continues to incur expenses and fees for the ongoing administrative, investment, legal and fiduciary functions necessary for the continued operation of the 401(k) Plan. Accordingly, the 401(k) Plans Trust, and therefore participants accounts, will be charged with a portion of the Plans expenses, including the fees of GFA and BPAS (which were set by the Retirement Investment Committee when it hired GFA and BPAS) and the fees of other service providers such as auditors and attorneys for work performed for the benefit of the 401(k) Plan. In order to permit the Plan to meet its expense obligations and also to treat both withdrawing and remaining participants equitably, the Plan will assess a one time, 1% of assets (except 2011 profit sharing contributions) expense charge on all participant and beneficiary accounts. All such amounts will be maintained in a restricted section of the Plan and will be unavailable for distribution. Any portion ultimately not needed for administrative costs will be distributed in accordance with applicable legal requirements. You will receive information about this expense charge in your quarterly benefit statements. 7. If you have additional questions, please contact Fidelity at 1.800.890.4015 between the hours of 8:30 a.m. and 8:00 p.m. Eastern Time. 8. A federal agency known as the Pension Benefit Guaranty Corporation has terminated the three defined benefit pension plans sponsored by Dewey & LeBoeuf. That action does not affect the 401(k) Plan. JUNE 29, 2012

Page 2 of 2