Steven Friedberg

Stephens, Inc. is a full-service investment bank and brokerage firm headquartered in Little Rock, Arkansas. The firm was founded in 1933 and is a subsidiary of Susi Holdings, Inc., which is owned by Stephens Financial Services LLC. Stephens provides comprehensive securities sales and trading services, including customized solutions for clients in North America and abroad.

Citigroup Global Markets, Inc. (Broker) (CGMI-Broker) is the broker/dealer division of Citigroup Global Markets, Inc., an investment bank headquartered in New York City with additional offices across the US. The firm was founded in 2004 and is a subsidiary of Citigroup Financial Products, Inc., ultimately held by Citigroup, Inc. (NYSE: C). CGMI-Broker covers all market capitalizations of the major global indices and provides macro and quantitative analysis of global markets and sector trends. Their core focus of the group is to help investing clients make informed decisions by providing value-added, independent, insightful analysis.

UBS Securities LLC is an investment bank and registered broker/dealer headquartered in New York City. The firm was founded in 1998 as UBS Warburg LLC. They are a subsidiary of UBS Americas Holding LLC, ultimately held by UBS Group AG (SWX: UBSG, NYSE: UBS) in Switzerland. UBS Securities is a primary dealer in US Government securities and provides a full range of investment banking services which includes corporate finance, mergers and acquisitions, capital markets, trading and sales, fixed-income, equity research, private banking, underwriting and prime brokerage operations. The firm also provides advisory services and access to capital markets for corporate, institutional, intermediary and alternative asset management clients.

Jackson National Asset Management LLC (JNAM) is a SEC-registered investment advisor and mutual fund manager headquartered in Lansing, Michigan. Founded in 1989, the firm is an indirect, wholly owned subsidiary of Jackson Financial, Inc. (NYSE: JXN). JNAM serves as an investment adviser but limits its investment management services to rendering investment advisory services in connection with mutual funds sponsored by affiliated entities.

JPMorgan Securities LLC (JPMS) is a securities brokerage firm headquartered in New York City. The firm was founded in 1985 and is a subsidiary of JPMorgan Broker-Dealer Holdings, Inc., ultimately held by JPMorgan Chase & Co., Inc. (NYSE: JPM). JPMS provides research on fixed income, credit, derivatives, emerging markets, foreign exchange, structured finance, technical analysis and bond indices. Their equity analysts cover equities throughout North America, EMEA, Asia/Pacific and the emerging markets. The firm's fixed income team formulates trading and portfolio recommendations for investors in global bonds and other fixed-income markets based on valuations, analytics and market dynamics.

Instinet LLC is a SEC-registered broker-dealer headquartered in New York City. The firm is the equities execution services arm of the Nomura Group. The firm was founded in 1969 and is a wholly owned subsidiary of Instinet Holdings, Inc., which is ultimately owned by Nomura Holdings, Inc. (TYO: 8604) in Japan. Instinet offers the institutional investment community a suite of tailorable solutions, which includes market insights and commentary, full-service trading desks, advanced algorithmic trading strategies, access to unique and specialized liquidity via their array of crossing pools, and a set of workflow solutions.

Founded in 1988 by Richard Messina, the Benchmark Co. LLC is a full-service broker/dealer headquartered in New York City. The firm provides equity research, sales and trading services for institutional and private clients. They focus on the media, energy, enterprise software, infrastructure software, biotechnology, specialty pharmaceuticals, REITs, Internet and communications sectors. The Benchmark Co.'s clearing agent is JP Morgan Clearing Corp.

BB&T Securities LLC, doing business as BB&T Capital Markets, is the broker/dealer subsidiary of BB&T Corp. (NYSE: BBT). The firm is headquartered in Richmond, Virginia. They offer a full array of investment, trading and execution services to middle-market companies. BB&T Capital Markets' sales and trading arm is comprised of 2 groups: Debt Securities Sales & Trading and Equity Sales & Trading. The Debt Securities Sales & Trading group focuses on: (1) Government and agency securities (2) corporate bonds (3) municipal bonds (4) asset-backed securities (5) mortgage-backed securities (6) preferred securities and (7) money market desk (short-term securities including BB&T funding). The Equity Sales & Trading group focuses on: (1) institutional block execution services (2) institutional distribution of proprietary research (3) providing proprietary access to industry leading conferences and management teams (4) serving as a NASDAQ market maker for over 250 securities (5) stock buybacks including 10b-18 and 10b5-1 trading plans and (6) 144 stock sales, individual 10b5-1 trading plans (buy and sell) and employee cashless stock option programs. BB&T Capital Markets provides research coverage of the communications, defense and government services, energy, financial services, furnishings and consumer durables, healthcare, industrial services, retail/consumer durables and transportation services sectors.

Jefferies LLC is a global investment bank and institutional securities firm headquartered in New York City. The firm was founded in 1962 and is a subsidiary of Jefferies Group LLC, ultimately held by Jefferies Financial Group, Inc. (NYSE: JEF). Jefferies provides corporate clients with research and execution services in equity, fixed income, and foreign exchange markets, as well as a full range of investment banking services such as underwriting, mergers and acquisitions, restructuring and recapitalization, and other advisory services, with all businesses operating in the Americas, Europe and Asia.

William Blair & Co. LLC (William Blair) is a SEC-registered broker/dealer firm headquartered in Chicago, Illinois. The firm was founded by William McCormick Blair in 1935 and is a subsidiary of WBC Holdings LP. Until 1941, they were known as Blair, Bonner & Co. William Blair provides broking services to individual, institutional and issuing clients.

Goldman Sachs & Co. LLC (GS&Co.) is a securities brokerage firm headquartered in New York City. Founded in 1927, the firm is a subsidiary of The Goldman Sachs Group, Inc. (NYSE: GS). GS&Co. provides services to help hedge funds manage risk, monitor portfolios, maintain liquidity and build their businesses. They offer clients access to global equity and derivatives markets, as well as foreign exchange, commodities, European Lefts, rates and credit across the Americas, Europe and Asia. The firm proactively monitors capital markets, searching for pockets of liquidity and news that may require changes to those strategies. Integration with the Goldman Sachs network gives clients access to the firm's sectored block trades and their insights into price discovery. Their electronic trading program provides clients with tools to manage their trades from pre-trade analytics to post-trade analysis.

Barclays Capital, Inc. is a registered broker/dealer headquartered in New York City. The firm was founded in 1997 and is a subsidiary of Barclays Group US, Inc., ultimately owned by Barclays plc (LON: BARC) in Great Britain. Barclays Capital provides large corporate, government and institutional clients a full spectrum of prime brokerage services which includes equities and fixed income financing, OTC Clearing, Futures and Foreign Exchange Prime Brokerage and access to industry insights and analytics from their Strategic Consulting team.

Thoma Bravo LP(Thoma Bravo) is a private equity firm founded in 2008 by Carl Dee Thoma and Orlando Bravo. The firm is headquartered in Chicago, Illinois.

Moody's Investors Service, Inc. is a credit rating and investment research firm headquartered in New York City. They are a subsidiary of Moody's Corp. (NYSE: MCO). The firm performs international financial research and analysis on commercial and government entities and provides a variety of analytic tools for assessing credit risk. Their clients include creditors, investment banks and commercial banks.

Northwestern University is a private institution founded in 1851 to serve the Northwest Territory, an area that now includes the states of Ohio, Indiana, Illinois, Michigan, Wisconsin and parts of Minnesota. Northwestern has three campuses

Fitch Ratings, Inc. is a global rating agency and investment research firm headquartered in New York City. The firm was founded by John Knowles in 1913 as Fitch Publishing Co. They are a subsidiary of Fitch Group, Inc., ultimately owned by The Hearst Family Trust. Fitch Ratings seeks to provide independent and prospective credit opinions, research and data to the world's credit markets. Their approach is based on a foundation of local market experience that covers capital markets in over 150 countries. The firm's ratings analysis and rating decisions are based on established criteria, methodologies and ratings definitions which they apply in a consistent manner. Fitch Ratings provides coverage of the following markets: Economics, Banks, Insurance, Sovereigns, Corporates, Structured Finance, Public Finance – International, Public Finance – US, Infrastructure & Project, and Finance.

H. C. Wainwright & Co. LLC (H. C. Wainwright) is a full-service broker/dealer headquartered in New York City. The firm was founded in 1868 and is a subsidiary of HCWHC, Inc. H. C. Wainwright delivers industry insights and real-time execution to both public and private small and middle-sized global emerging market companies. With a focus on identifying buyers and sellers in illiquid and difficult to trade equities, the firm specializes in block trading and providing liquidity in these securities with as little market impact as possible.

Cold Bore Capital (Cold Bore Capital) is a private equity firm founded in 2017 by Sergio Zepeda. The firm is headquartered in Chicago, Illinois.

Raise Marketplace LLC operates an online marketplace to buy and sell gift cards. Its platform allows users to turn their unused gift cards into cash by listing their cards for sale and enables them to shop for discounted gift cards. The company was founded by George D. Bousis and Bradley Wasz on February 2, 2013 and is headquartered in Chicago, IL.

Twin-Star International, Inc. manufactures home furniture products. The firm offers home furnishings, electric fire places, stoves, heaters and consumer electronics. The company was founded by Mark Asofsky and Michael D. Horvitz in 1996 and is headquartered in Delray Beach, FL.

Z Capital Group LLC (ZCG) is a SEC-registered investment advisor and alternative investment manager headquartered in New York City. The firm was founded by James Zenni in 2006. ZCG serves as an investment manager and provides discretionary advisory services to pooled investment vehicles and private investment partnerships.

Brean Capital is an independent investment bank and registered broker/dealer headquartered in New York City. The firm was founded in 1973 and provides equity research, corporate finance and advisory investment banking, equity institutional sales and trading, and asset management to institutional investors and corporate clients. Their fixed income business provides sales, trading, research and banking services on a wide range of mortgage and asset-backed, US Treasury and government agency securities, structured products, corporate bonds, and municipal debt. The fixed income sales team employs a highly analytical approach to bond selection, trade execution, and overall bond portfolio management. Under the guidance of fixed income strategists, the fixed income team uses a combination of qualitative and quantitative analyses to create custom investment portfolios and develop targeted, executable bond trading strategies to complement their clients? balance sheets.

Bay Hills Capital Management LLC (Bay Hills Capital) is a private equity firm founded in 2006 by Lance Mansbridge. The firm is headquartered in San Francisco, California.

Nissha Metallizing Solutions NV engages in the manufacture of metalized packaging and labelling solutions. Its products include wet strength and general labels, pressure sensitive labels, in-mold labels, direct mailing envelopes, graphic papers and commercial print, gift wrap, food wrap, litho lamination, blister pack, packaging board, suspector, and packaging board-film line. The firm serves food, beverage, consumer packaging goods, entertainment and several other industries. The company was founded in 1975 and is headquartered in Genk, Belgium.

The James Irvine Foundation operates nonprofit grant making foundation an expanding opportunity for the people of California to participate in a vibrant, inclusive and successful society. Its grant making is organized around three program areas: Arts, Youth, and California Perspectives. The Foundation has provided more than $900 million in grants to nonprofit organizations throughout California. The organization was founded in 1937 and is headquartered in San Francisco, CA.

Founded in 1982, Stratford Advisory Group, Inc. is an independent, full-service investment consulting and advisory firm, registered as an investment advisor with the SEC under the Investment Advisers Act of 1940*. Stratford provides investment consulting to-Endowments, Foundations, Healthcare organizations, Defined benefit and defined contribution plans, Taft-Hartley funds, Public retirement plans, Private wealth, Corporations (operating assets and other taxable funds), Non-qualified plans. They assist clients with strategic investment program management. This includes investment policy development, asset allocation strategy, investment manager structure, manager selection, performance measurement and manager evaluation and oversight. They are distinguished by their proactive consulting approach-timely advice, specific recommendations, and implementation assistance. Their only business is investment consulting and advisory services; 100% of their revenue comes from their investment consulting and advisory relationships. They have no affiliations, financial arrangements or relationships with any investment managers or other organizations that could compromise their independence. Stratford serves its national client base from a single office located in Chicago, Illinois. All of their client consulting, investment research, manager research, and administrative support is conducted at this site.

Minnesota State Board of Investment (SBI) is a state-owned pension fund manager headquartered in St. Paul, Minnesota. The firm was founded in 1885 to manage assets for the State of Minnesota. SBI is also responsible for the assets of the three Statewide Retirement Systems, various defined contribution plans, non-retirement accounts, and tax-advantaged savings plans.