Shaun Michael Dowling

Shaun Dowling is affiliated with Howard Financial Services, Ltd. ("HFS"), a registered investment advisor, through indirect ownership of HFS affiliated general partners of various limited partnerships created as private placement investments for clients and investors of HFS. These relationships are passive and non-controlling. Therefore, no conflicts of interest exist as Shaun Dowling has no management or oversight over the underlying investments. It is expected these interests will be retired as underlying investments are sold. Shaun Dowling manages Hunting Oak Investments, LLC ("HOI"). HOI owns interests in various private investments and entities including the HFS affiliated partnerships. The investments and entities held by HOI are closed to new investment, passive, and non-controlling. HOI is a passive investment vehicle. No conflicts of interest exist as it relates to the disclosures listed here as Shaun Dowling has no management or oversight over the underlying investments.