Found on mangahelpers:
Verification: Pending
Type: Japanese Script with translation
Source: unknown
Credits: unknown

This one correlates with the picture, and may thus assumed to be real.


No. 371: An old acquaintence


Madara's looking forward to Sasuke's development.


A bunshin Naruto finds Sasuke but is "destroyed" on the spot.


Jiraiya transforms into one of the Ninja he interrogated and orders the toad to go to Ibiki.


Konan witnesses this scene.

ペインに報告 ペイン「そうか・・・自来也先生か・・・」

She notifies Pain, who says "I see... Jiraiya-Sensei..."


The spoiler provider informs us that Pain's body is not unlike the "kid with the nasty look in his eyes" who appears in the picture of Jiraiya's former team.


Pain tells Konan to lead him to Jiraiya, but that she's free to kill him before he gets there.


Konan attacks Jiraiya, but he dodges it with a toad jutsu (the name of which I don't understand.)

自来也「術のキレも良くなったが いい女にもなったのオ・・・子南」

Jiraiya: "Not only have you gotten better with your jutsu, but you've grown into a mighty fine woman as well, Konan."

This last line appears clearly legible on the spoiler picture.