Bruce D. Martin Still Lake Capital, LLC 142 Old Ridgefield Rd. Suite 205. Wilton, CT 06897 914-514-5001 (office) 917-733-3236 (mobile) [email protected]

PROFESSIONAL EXPERIENCE

Experienced board member, executive team member, business builder, value creator, investment professional, and portfolio manager. Demonstrated expertise representing private companies in multiple industries from general industrials through technology. Generalist approach of understanding the underlying businesses coupled with a consistent theme of focusing on free cash flow generation and high return investment projects as the surest way to value creation. Experienced in mergers and acquisitions, debt and equity capital raises, debt negotiations, capital markets, senior management evaluation, as well as bankruptcies, restructurings, and other value enhancing activities and transactions. Experience in working with executive team members, as well as managing teams of people. A good listener, synthesizer, and triangulator of information, and a true partner and supporter of all stakeholders. Currently managing a small private partnership, Still Lake Value Partners, L.P., since 2016, and was formerly a member of the Executive Committee, Managing Director, and Head of the Performing Corporate Business for Angelo, Gordon & Co. 1999 through April 2016. Board Membership CV also available.

STILL LAKE CAPITAL, LLC May 2016 – Present Founder and Managing Member Still Lake Capital, LLC is the General partner of Still Lake Value Partners, L.P. a small private limited partnership. Fund is a primarily long only, deep value, concentrated (15-45 positions) predominately equity portfolio with the ability to invest in credit.

ANGELO, GORDON & CO. 1999 – 2016 Managing Director, Member of Executive Committee, Portfolio Manager Leveraged Loan/Non-Investment Grade Corporate Credit business from 2004-2016

• Portfolio Manager for the firm’s Non-Investment Grade Credit platform including the Northwoods Capital series of CLOs, Diversified Credit Fund (opportunistic credit), Diversified Income Fund, and multiple separate accounts with mandates ranging across first lien loan, second lien loan, mezzanine, high yield bonds, stressed assets, DIP loans, direct lending origination, and post reorganization equities • Recruited the Twin Brook Direct Lending Senior Management team, actively participated in setting up the Twin Brooks Direct Lending platform, raised first fund, and served as member of the investment committee • Raised and issued ten CLOs (Northwoods Capital IV – XIV) totaling in excess of $5.0 billion with top-tier (mid- teens to low 20% returns) investment performance • Raised and managed private limited partnerships and separate accounts totaling in excess of $2.5 billion • Drove all facets of non-investment grade investment activities including investment identification, approvals, portfolio management, trading, reporting, shareholder communications, risk management, and CLO compliance • Solely responsible for business development, marketing and investor relations for the firm’s Non-Investment Grade credit platform, including representing the firm in domestic and overseas investor meetings and speaking opportunities at internal as well as industry conferences • Member of the investment committee for the firm’s opportunistic Energy Fund created in 2015 • Member of the firm’s Executive Committee and participated in quarterly off-site meetings working with other members to help set firm’s strategic direction • Successfully managed all funds through the 2008 credit crisis, and prior to becoming a portfolio manager was responsible for credit research across a variety of industries and successfully managed credit exposure through the early 2002 corporate fraud crisis

• Worked directly with and in partnership with firm’s Distressed Investing platform, including investment committee meetings, cross ownership, Chapter 11 legal proceedings, strategy sessions, retention of legal advisors, retention of financial advisors, capital raising meetings, and board level participation • Invested in and reviewed investments for triple net lease, asset-backed, , real estate equity, real estate debt, and merger

CORPORATE BOARD EXPERIENCE

Served on multiple boards of restructured companies helping to drive successful outcomes and significant capital recovery for all investors. Boards include Internap, United Site Services, Hilex Poly, Gentek). See separate Board Membership CV.

EARLIER PROFESSIONAL EXPERIENCES

PUTNAM INVESTMENTS INC. 1997-1999 Senior High Yield Bond Analyst

EATON VANCE INC. 1996-1997 Senior High Yield Bond Analyst

JOHN HANCOCK MUTUAL FUNDS 1993-1996 Investment Grade and High Yield Bond Analyst

INSURANCE SERVICES OFFICE 1990-1991 Actuarial Analyst Actuarial Exam Level I and II

EDUCATION AND CERTIFICATION

CHARTERED FINANCIAL ANALYST (CFA) 1993

NORTHEASTERN UNIVERSITY GRADUATE SCHOOL OF BUSINESS Boston, MA Master of Business Administration May 1993

STATE UNIVERSITY OF NEW YORK AT BINGHAMTON Binghamton, NY Bachelor of Arts, Major in Mathematics May 1990

OTHER ACTIVITIES

Guest lecturer for alternative investing at Northeastern University, Boston, MA and Sacred Heart University, Fairfield, CT

Bruce D. Martin Still Lake Capital, LLC 142 Old Ridgefield Rd. Suite 205. Wilton, CT 06897 914-514-5001 (office) 917-733-3236 (mobile) [email protected]

PROFESSIONAL EXPERIENCE Experienced board member, executive team member, business builder, value creator, investment professional, and portfolio manager. Demonstrated expertise representing private companies in multiple industries from general industrials through technology. Generalist approach of understanding the underlying businesses coupled with a consistent theme of focusing on free cash flow generation and high return investment projects as the surest way to value creation. Experienced in mergers and acquisitions, debt and equity capital raises, debt negotiations, capital markets, senior management evaluation, as well as bankruptcies, restructurings, and other value enhancing activities and transactions. Experience in working with executive team members, as well as managing teams of people. A good listener, synthesizer, and triangulator of information, and a true partner and supporter of all stakeholders. Currently managing a small private partnership, Still Lake Value Partners, L.P., since 2016, and was formerly a member of the Executive Committee, Managing Director, and Head of the Performing Corporate Credit Business for Angelo, Gordon & Co. 1999 through April 2016.

BOARD EXPERIENCE INTERNAP CORP Atlanta, GA 2020 Internap Corp. provides a broad range of scalable information technology infrastructure services for enterprises including colocation, managed hosting, optimized IP, connectivity and content delivery services. I was asked to sit on the board as the Representative Member of Angelo, Gordon, a 10% owner of the restructured equity, in May 2020. Early projects include senior management compensation and long-term incentive plans as member of the Comp Committee; Additional Board Members search; site review; lease renewal negotiations; and long term divestiture decisions; CFO and CRO searches and retentions; capital expenditure reviews; operating expense reviews; overall go-to-market strategies. References: Michael Sicoli, CEO: 703-348-5255 Maureen D’Alleva, equity owner: 212-692-8243

ANGELO, GORDON & CO – EXECUTIVE COMMITTEE New York, NY 2016 Angelo, Gordon & Co. is a leading, privately held firm focused on credit and real estate investing, with more than $25 billion of and in excess of 500 employees. As a Managing Director, Portfolio Manager, and Head of Performing Credit, I was placed on the firm’s Executive Committee in 2014 and served until my departure in 2016. As a member of the Executive Committee I was involved in all aspects of decision making around the firm’s strategic directions including the launching of new businesses, new funds, compensation plans, ownership plans, and strategic partners. References: Multiple, upon request.

UNITED SITE SERVICES Westborough, MA 2009 United Site Services is the nation’s leading provider of porta potty rentals. USS was purchased in a shortly after Hurricane Katrina and over-leveraged because the impact from the hurricane meaningfully overstated run-rate EBITDA. In addition, USS was a “roll-up” of acquisitions that were not integrated, nor completely well thought out. USS was a unique challenge in that it needed new leadership, and we did not have a rolodex of porta potty industry experts. We retained Steve Humphrey to be chairman and then through an executive search found Ron Carapezzi, an ex-GE executive with rental experience, to be the new CEO. USS was the toughest turnaround and took close to three years but we managed to triple our money throughout the process which involved a steep learning curve for Ron, managing an internal fraud crisis, closing down or selling acquired businesses that did not fit, leading an industry-wide price increase, and ultimately moving to an offensive posture of finding new acquisition targets to pursue. Before leaving the board, we retained bankers and sold the business. Ron remained with the new owners. References: Ron Carapezzi, Chairman: 2023-984-2242 (mobile) Ed Simoneau, CFO: [email protected]

HILEX POLY CO. Hartsville, SC 2008 Hilex Poly was the world’s largest plastic bag company when it ran into trouble in 2008. The crux of the problem was an inexperienced CEO from outside the industry who was out of his area of expertise and EBITDA was declining at breathtaking rates. Sourced Steve Humphrey as an experienced packaging industry CEO to take over as Chairman and ultimately convinced him to agree to locate and hire a new CEO (Stan Bikulege). EBITDA immediately stabilized and resumed growth as a result of Stan’s experience in better resin purchasing, plant management, customer relations, and anti- dumping legal activity. We took over Hilex Poly as our debt was trading between 15 and 30 cents on the dollar, and one year later we recovered approximately 120 cents on the dollar when we sold the company to a private equity buyer. Stan Bikulege still runs the company, renamed Novolex, today. References: Stan Bikulege: 864-237-5696 (mobile). Steve Humphrey: 864-373-4939 (mobile)

GENTEK INC Parsippany, NJ 2003 Gentek was a conglomerate involved in water treatment, sulfur regeneration, wire harness, automotive parts, telecom connectors, and other disparate businesses. As the largest lender we became the largest owner of the post-reorganization company and I joined the board as our firm’s representative. Our conclusion was that many of the underlying businesses did not belong together, and that margin was suffering from a large layer of middle management put in place to handle acquisitions. The CEO, while capable, was not built for or experienced in the new reality. We needed a new CEO and nominated fellow board member, Bill Redmond. Over the ensuing years we sold businesses, publicly listed the equity, and retained Goldman, Sachs to access the debt markets for the purpose of facilitating a dividend to the shareholders. We more than tripled our money from where it troughed at roughly 30 cents on the dollar. References: William “Bill” Redmond: 973-462-0041 (mobile)

BOARD ADVISOR FINTRON INVEST Fairfield, CT 2019-Present FinTron is a start-up digital brokerage / banking provider that offers all of the latest investment tools to new investors. FinTron features commission free, unlimited fractional share trading with $5 order minimums, banking that pays you, passive investing options, investment education, as well as budgeting products. FinTron focuses on tech savvy new investors, ages 18-35. References: Wilder Rumpf, CEO: 845-559-7092 (mobile)