VALSTONE PARTNERS VI - Key Persons

Job Titles:

• Chartered Financial Analyst
• Senior Managing Director

Eric R. Abel, CFA, CAIA is a founder of and has served as a principal of ValStone Partners since its inception in 1998. Prior to co-founding ValStone Partners, Mr. Abel was a principal at CMP. Prior to CMP, Mr. Abel spent five years as an investment banker with Legg Mason Wood Walker, Inc., last serving as an Associate Vice President in Public Finance in the Healthcare Capital Markets Group. In these two previous roles, Mr. Abel was the investment banker or financial advisor on over $6.0 billion of public market financing transactions. Mr. Abel has over 26 years of finance and investment experience, including portfolio management, commercial loan workout, bankruptcy reorganization, investment banking, financial advisory services and other commercial loan and capital market transactional experience. Mr. Abel received his BS in Economics from the University of Delaware, cum laude. Mr. Abel is a Chartered Financial Analyst (CFA) charterholder, a holder of the right to use the Chartered Alternative Investment Analyst SM designation, a member of the CFA Institute and a member of the Baltimore CFA Society. Mr. Abel also is the former chair of the Advisory Board for the Baltimore Chapter of the Network for Teaching Entrepreneurship

Job Titles:

• Chief Compliance Officer
• Chief Financial Officer
• ValStone Asset Management As Director of Accounting

Geoffrey Murray joined ValStone Asset Management as Director of Accounting in January 2019. Prior to joining ValStone Asset Management, Mr. Murray spent over 10 years with PricewaterhouseCoopers (PwC) in their Audit and Assurance, and Advisory Management Consulting practices. Since joining ValStone, he has been promoted to Chief Financial Officer and Chief Compliance Officer. Mr. Murray has a background in technical accounting, auditing, and internal controls with experience in the financial services, manufacturing, and information technology industries. Mr. Murray received his Master of Science degree in Financial Reporting and Information Systems from Michigan State University. Mr. Murray holds a Certified Public Accountant (CPA) license in the state of Michigan.

Job Titles:

• Founder
• Senior Managing Director

Gerald C. Timmis III is a founder of and has served as a manager of ValStone Partners since its inception in 1998. Mr. Timmis is also the principal of GC Timmis & Company ("GCT&C"), which operated as a broker‑dealer member of the NASD from 1993 to 2005. Prior to GCT&C, Mr. Timmis spent two years with W.Y. Campbell & Company, a regional investment bank located in Detroit, Michigan, as a Managing Director. Before that, Mr. Timmis spent approximately six years at Goldman Sachs & Co. in New York City, last serving as a Vice President, where he was responsible for numerous transactions involving direct principal investment, exclusive buy‑side merger advisory, exclusive sell‑side merger advisory, raid defense and public offerings. Mr. Timmis was a founding member of GS Capital, which was responsible for making direct investments on behalf of Goldman Sachs & Co. Mr. Timmis also has significant experience in corporate financial restructuring, cross‑border transactions and capital raising. Mr. Timmis received his A.B. in Economics from The University of Michigan and his M.S. in Industrial Administration from the Graduate School of Industrial Administration (now the Tepper School of Business) at Carnegie Mellon University, where he was a William L. Mellon Scholar. He has authored research papers in finance and economics, been published in a refereed academic journal and presented at professional meetings, including meetings of the American Economic Association. Mr. Timmis is a member of the Economic Leadership Council at The University of Michigan.

Job Titles:

• Business Development & Investor Relations Consultant
• Business Development and Investor

Glenn P. Murray is responsible for business development and investor relations. Mr. Murray brings 30 years of experience to ValStone Partners. Prior to joining ValStone Partners, Mr. Murray was the Founder and Managing partner of GPM Holdings-an advisory firm specializing in alternative investments and entertainment finance. Prior to GPM Holdings, Mr. Murray was a Senior Vice President at Morgan Stanley where he headed an institutional consulting team and advised public funds, endowments and foundations, corporations, Taft Hartley pensions, and high net worth individuals. Prior to Morgan Stanley, Mr. Murray was a Consulting Group Director at Smith Barney. Mr. Murray attended Wayne State University and the University of Kansas-where he was a member of the golf team. Mr Murray has earned his CIMA designation from the University of Pennsylvania's Wharton School of Finance. Mr. Murray has served as a trustee for the Bureau of Investments Advisory Board for The State of Michigan department of Treasury as well as a board member of Boys Hope Girls Hope of Detroit, Ilitch Charities for Children, Jack's Place for Autism, and the Beecher Institute. He serves as a deacon for Mt Zion church. Mr. Murray and his wife of 30 years, Lisa, have three adult boys.

Job Titles:

• Analyst
• Analyst at ValStone Asset Management

Jake Zoppo is an Analyst at ValStone Asset Management and is responsible for analyzing, evaluating and monitoring investments made by the firm and its related entities. Mr. Zoppo received a BS in Finance and Business Management from the University of Delaware.

Job Titles:

• Director of Accounting
• ValStone Asset Management As a Controller

Kirby Mendola joined ValStone Asset Management as a Controller in February 2020. Prior to joining ValStone Asset Management, Mr. Mendola spent over 7 years with Grant Thornton in their Audit and Advisory practices and almost 2 years as a Controller for Yan Feng Automotive. Since joining ValStone, he has been promoted to Director of Accounting. Mr. Mendola has a background in financial reporting, technical accounting, auditing, and internal controls, with experiences in public and private companies that have operations domestically and internationally. Mr. Mendola holds a Certified Public Accountant (CPA) license in the state of Michigan.

Job Titles:

• Founder
• Senior Managing Director
• Member of the Board of Trustees of Carnegie Mellon University

Larry E. Jennings, Jr. is a founder of and has served as a manager of ValStone Partners since its inception in 1998. Prior to co-founding ValStone Partners, Mr. Jennings was formerly a principal of Carnegie Morgan Partners, L.L.C. ("CMP"), a financial advisory firm to state and local governments and their agencies and non-profit organizations. Before forming CMP in 1994, Mr. Jennings spent over seven years in the public finance investment banking department of Legg Mason Wood Walker, Inc. During his tenure at Legg Mason, Mr. Jennings rose to the level of Managing Director and sat on the committee that directed all municipal investment-banking activities of the firm. Mr. Jennings' investment banking experience includes real estate workouts, restructuring distressed municipal credits, sale/leaseback of public real estate assets, and negotiating energy contracts on behalf of public and private entities. In prior years, Mr. Jennings also worked as a Senior Financial Analyst with Maryland National Bank. Mr. Jennings received a B.S. in Mathematics and Economics from Carnegie Mellon University and an M.S. in Industrial Administration from the Graduate School of Industrial Administration (now the Tepper School of Business) at Carnegie Mellon University, where he concentrated in Finance and Strategy. Mr. Jennings is a member of the Board of Trustees of Carnegie Mellon University, where he also serves on the Investment Committee and previously co-chaired the Math Curriculum Advisory Board, a member of the Morgan State University Foundation Investment Committee, and a former Public Advisor member of the Investment Committee of the Maryland State Retirement and Pension System.

Job Titles:

• Chartered Financial Analyst
• Vice President
• Vice President at ValStone Asset Management

Richard Huddleston is a Vice President at ValStone Asset Management. Mr. Huddleston is responsible for analyzing, evaluating and monitoring investments made by the firm and its related entities. Prior to joining ValStone Partners, Mr. Huddleston held the top investment staff position at the Retirement Systems of the City of Detroit (RSCD), a $6 billion public employee defined benefit plan. Prior to RSCD, Mr. Huddleston held financial executive management positions in technology and financial services companies. He began his career in the computer industry as a systems engineer, developing and maintaining the operating systems for large-scale computer systems. Mr. Huddleston received his BA degree in Chemistry from the University of Missouri. He received his MBA in Finance from Wayne State University and completed post-graduate work in computer science at the University of Missouri. Mr. Huddleston is a Chartered Financial Analyst ("CFA") charterholder and a holder of the right to use the Chartered Alternative Investment Analyst ("CAIA") designation.