Auspex Capital Facilitates the Sale of Three Taco Bell Restaurants for SOMA Enterprises December Auspex Capital Facilitates the Acquisition of Three High Volume Wendy’s for HV Wen December Auspex Capital Facilitates the Sale of 6 Wendy's Restaurants for Coastal Ventures November Auspex Capital Secured $5,200,000 in Financing for Tex Food October Auspex Capital Facilitates an Acquisition for WenCharter October Auspex Capital Facilitates the Sale of 25 Taco Bell Restaurants for St. Mar Enterprises August Auspex Capital Facilitates the Acquisition of 20 Taco Bell Restaurants for JAl May Auspex Capital Facilitates the Acquisition of Wendy's Restaurants for WenJohn April Auspex Capital Facilitates the Sale of Three Properties for RGT April Auspex Capital Facilitates the Acquisition of 25 Wendy's Restaurants for MHG April Auspex Capital Facilitates the Sale of 14 Pizza Hut Properties for PHIG April Auspex Capital Facilitates the Sale of 32 Taco Bell Restaurants for PRB April Auspex Capital Secured $11,000,000 in Financing for Legacy Capital Partners February Auspex Capital Secured $14,450,000 in Financing for Tri-Cities Restaurant Group February

Auspex Capital Secures $8,700,000 in Financing for JAIA October Auspex Capital Completes the Acquisition of Four Jersey Mike’s Restaurants for Absolutely Sublime, LLC October Auspex Capital Facilitates the Sale of a High-Profile Taco Bell Property in Roselle, New Jersey October Auspex Capital Facilitates the Sale of 33 Taco Bell Restaurants for LMG September Auspex Capital Secures $13,450,000 in Financing for JSDB August Auspex Capital Facilitates the Sale of Taco Bell Restaurants for Bhasin Holdings July Auspex Capital Facilitates the Sale of Four Taco Bell Properties for Intrepid Restaurant Properties, LLC July Auspex Capital Completes the Acquisition of One High-Volume Wendy’s Restaurant for WenJohn, LLC July Auspex Capital’s Dealmaker of the Year MUY! May Auspex Capital Facilitates the Acquisition of 13 Wendy’s Restaurants for Superior Restaurant Group April Auspex Capital Facilitates the Sale of 24 Wendy’s Restaurants for R&L Foods, LLC March Auspex Capital Facilitates the Sale of Four High-Volume Wendy’s Restaurants for PNV Restaurants March Auspex Capital Secures $26,000,000 in Financing for CTI February Auspex Capital Secured $15.4 Million for SERJ Taco California, LLC January Auspex Capital Facilitates the Financing and Acquisition of Four Taco Bell Restaurants for J&S Foods Sales, Inc. January Auspex Capital Facilitates the Sale of 13 Wendy’s Restaurants for R&L Foods January

Auspex Capital Facilitates the Sale of 56 Taco Bell Restaurants for Aarsand Holdings, LLC December Auspex Capital Facilitates the sale of 13 Taco Bell restaurants for CKA Taco Bell December Auspex Capital Secures Financing and Completes the Acquisition of Four Taco Bell Restaurants for MK33 Foods December Auspex Capital Facilitates the Sale of 18 Taco Bell Restaurants for Georgia-Texas Operating Co., Inc. December Auspex Capital Facilitates the Sale of 13 Yum! Brand Restaurants for BBG December Auspex Capital Facilitates the Financing and Acquisition of Two Habit Restaurants for LM Family Restaurants, LLC December Auspex Capital Facilitates the Sale of KFC Restaurants for Premier Restaurant Ventures December Auspex Completes the Sale of MUY! Companies November Auspex Capital Advises on the Acquisition and Financing of the Real Estate Underlying a Taco Bell Restaurant for CRRG November Auspex Capital Facilitates the Sale of Restaurants and Underlying Properties for J&D Management November Auspex Secures $52,200,000 in Financing for WBG-RE October Auspex Capital Facilitates the Sale of Six Taco Bell Restaurants for Taco Steve October Auspex Capital Facilitates the Sale of Six Arby’s Restaurants for Bhasin Arby’s Holdings October Auspex Capital Secures $17,500,000 in Financing for SERJ October Taking Flight with Auspex Capital Q3 2021 Newsletter October Auspex Secures $148,000,000 in Financing for WBG September Auspex Capital Secures $5,800,000 in Financing for KMG September SPECIAL EDITION: Auspex Capital Secures a New $302.8 Million Senior Secured Credit Facility for Meritage Hospitality Group August Mid-Year Transaction Highlights July Auspex Capital Facilitates the Sale of Six Taco Bell Restaurants for Lord & Cook Ventures, LLC July Auspex Capital Secures $21,300,000 in Financing For North-Wend Foods, Inc. July Auspex Capital Secures $16,250,000 in Financing for Premier Restaurant Ventures, LLC July Taking Flight with Auspex Capital Q2 2021 Newsletter June Auspex Capital Secures $80.9 Million in Financing for C&R Restaurant Group May Auspex Capital Secures $28,500,000 in Financing for Progressive Restaurants May Auspex Capital Facilitates the Acquisition of the Real Estate Underlying a Wendy’s Restaurants for Burger Tigers, LLC May Auspex Capital Facilitates the Sale of Three Taco Bell Restaurants for Neighborhood Taco, LLC May Auspex Capital Secures $37,500,000 in Financing for Wen Gap April Auspex Capital Secures $45,405,000 in Financing for WKS April Auspex Capital Facilitates the Sale of 22 Wendy’s Restaurants for Starboard Group of Richmond South, LLC April Auspex Capital Secures $90,200,000 in Financing for CKA Wendy’s April Auspex Capital Secures $56,000,000 in Financing for Phoenix Taco, LLC March Taking Flight with Auspex Capital Q1 2021 Newsletter March Auspex Capital Facilitates the Acquisition of 54 Wendy’s Restaurants for Yellow Cab March Auspex Capital Facilitates the Acquisition of 35 Wendy’s Restaurants for Legacy Restaurant Group March Auspex Capital Facilitates the Acquisition of 26 Wendy’s Restaurants for Superior Restaurant Group March Auspex Secures Financing for Integrity Foods, LLC March Auspex Secures Financing for PHIG Houston, LLC’s 15-Unit Pizza Hut Portfolio February Auspex Capital Facilitates the Sale of 14 Taco Bell Restaurants for DDIA February Auspex Capital Facilitates the Acquisition of Three Taco Bell Restaurants for Great Lakes Tacos January Auspex Capital Serves as the Financial Advisor and Secures Financing for QSR Investments, LLC January Auspex Capital Secures $152,770,000 in Financing for Border Foods and Affiliated Companies January Taking Flight with Auspex Capital Q4 2020 Newsletter January

Auspex Capital Facilitates the Sale of Three Wendy’s Restaurants for Elite Burgers December Auspex Capital Provides Financial Advisory to NRG and Secures $43,000,000 in Financing December Auspex Capital Provides Financial Advisory to DORO and Secures $8,800,000 in Financing December Auspex Capital Secures Financing for PHIG Houston, LLC December Auspex Capital Advises Wenspok on the Acquisition Financing of 12 Wendy’s Restaurants December Auspex Capital Advises on the Acquisition of the Real Estate Underlying Nine Wendy’s Restaurants for Red Hubs December Auspex Secures Financing for Desert Venture, LLC, a 14-Unit Jack In The Box Franchisee October Taking Flight with Auspex Capital – Q3 2020 October Auspex Capital Advises on the Acquisition of two Hardee’s Restaurants for Northland Restaurant Group October Auspex Capital Advises on the Acquisition and Financing Of Nine Wendy’s Restaurants for Yellow Cab October Auspex Capital Facilitates the Sale of Three High-Volume Taco Bell Restaurant for Orchard October Auspex Capital Facilitates the Sale of Seven Freddy’s Restaurants for PSP September Auspex Capital Facilitates the Sale of 35 Hardee’s Restaurants for Big Benders August Auspex Capital Secures $26,200,000 in Financing for GC Wen July https://t.e2ma.net/message/hi3p7h/dvmqhg June Taking Flight with Auspex Capital – Q2 2020 Newsletter May Auspex Capital’s Chris Kelleher is a Panelist in Franchise Times’ webinar “Beyond COVID-19: A Look Ahead for the Restaurant Industry April Auspex Capital Facilitates the Sale of 13 Burger King Restaurants for O&M Restaurant Group, Inc. March Auspex Capital Secures $26,500,000 in Financing for JAS March Auspex Secures $20,100,000 in Financing for MCL February Auspex Capital Secures More Than $22 Million in Financing for T&K February Auspex Secures a Total of $10,543,000 for KAS Foods, LLC February Auspex Capital Secures More Than $21 Million in Financing for a Valued Client February Auspex Capital Secures $3,127,500 for RST EB, LLC February Auspex Capital Secures $44 Million in Financing for G2TX January Auspex Secures $2.7 Million in Real Estate Financing for an Arby’s Franchisee January Taking Flight with Auspex Capital – Q4 2019 Newsletter January

Auspex Capital Secures $16,500,000 in Financing for Yellow Cab December Auspex Capital Facilitates the Sale of a Taco Bell Restaurant for MKR December Auspex Capital Facilitates the Sale of 14 Wendy’s Restaurants for Starboard Group November Auspex Capital Secures Financing for Wenspok Companies November Auspex Capital Advises on the Acquisition of a High-Volume Taco Bell Restaurant for RGT Foods, Inc. November Auspex Capital Secures $5,600,000 in Financing for PSTB November Auspex Capital Facilitates the Sale of a High-Volume Taco Bell Restaurant for C&R Restaurant Group November Auspex Capital Secures $21,000,000 in Financing for LMI October Auspex Capital Secures $32.0 Million in Financing for SADC September Auspex Capital Secures $3,000,000 in Financing for J&D Management September Auspex Capital Facilitates the Acquisition of a High-Volume Wendy’s Restaurant for NutmegWen September Auspex Secures $32,550,000 in Financing for Wenesco August Taking Flight with Auspex Capital – Q2 2019 Newsletter August Auspex Capital Secures $85 Million in Financing for Fulenwider Enterprises July Tranquility Properties, LLC Secures a $16,500,000 Real Estate Secured Loan July Auspex Capital Facilitates the Sale of 10 KFC and Taco Bell/KFC Co-branded Restaurants for Aarsand July Auspex Secures a Total of $8,350,000 in Financing for Orchard Foods, Inc. August Auspex Capital Facilitates the Sale of Six High-Volume Taco Bell Restaurants for Momex June Auspex Capital Facilitates the Sale of 56 Wendy’s Restaurants for Starboard May Auspex Advises on the Acquisition of Two Wendy’s/Gas Station Properties Including $4.8 Million in Financing for Burger Tigers, LLC May Auspex Facilitates the Acquisition of Ten Wendy’s Restaurants for TriWen May Auspex Capital at the 2019 Franchise Times Dealmakers Awards Gala May Auspex Capital Congratulates Sean Tuohy, a Franchise Times Dealmaker of the Year! April Auspex Secures a Total of $20,000,000 in Financing for the Largest Family Owned Franchisee in the Taco Bell System April Auspex Secures a Total of $19,250,000 in Financing for Border Foods, Inc. April Auspex Capital Secures $29 Million in Financing for Helm Restaurants April Auspex Capital Secures Financing for the Second Largest Wendy’s Franchisee March Auspex Facilitates the Sale of Four Taco Bell Restaurants for Chandan, Inc. March Auspex Secures $9,85,000 in Financing for SERJ Taco California, LLC March Auspex Secures $12.1 Million in Financing for Burger Tigers, LLC February Auspex Facilitates the Sale of 37 Taco Bell Restaurants for RGT January Auspex welcomes Tammy Welch and Chris Poppe to the team! January We are pleased to share transaction details from 2018—an outstanding year for the firm and our clients! January

Auspex Capital Secures Financing for the Largest Family-Owned Taco Bell Franchisee in the U.S. December Auspex Facilitates the Acquisition of Three Wendy’s Restaurants for CCCWen, LLC November Auspex Capital Advises on the Acquisition of 16 Taco Bell Restaurants for Northwest Restaurants, Inc. October Auspex Facilitates the Acquisition of 21 Taco Bell Restaurants for Hospitality Memphis, Inc. September Auspex Advises on the Acquisition and Finacing of a Taco Bell Property for JJ Ridge, LLC August Auspex Facilitates the Sale Leaseback of 20 KFC Properties for RGT Investments, LLC and Chicken Little Real Estate, LLC July Auspex Facilitates the Sale Leaseback of 14 Taco Bell Properties for RGT Foods Investments, LLC and RGT Real Estate Holdings, LLC July Auspex Secures $10,000,000 in Financing for Jeff and Lee Engler June Auspex Congratulates CKA Management – Dealmaker of the Year! June Auspex Capital Secures $15,212,000 in Financing for JCR May Auspex Facilitates the Sale of 25 Taco Bell Restaurants for Tacoma, Inc. April Auspex Capital Secures $24,400,000 in Financing for Georgia-Texas for a Major Acquisition March Auspex Secures $60,500,000 in Financing for Ampex Brands February Auspex Facilitates the Sale of 17 Taco Bell Restaurants for BBG North, LLC January Auspex Capital Advises on the Acquisition and Financing of a Wendy’s Property for JoeJohn, LLC January The Growth of Ampex Brands: Shriram Chokshi, Managing Director, Provides Details and Insights in This Month’s Issue of RFM January Auspex Capital Advises on Refinancing Transaction for CKA Wendy’s and Secures Financing to Acquire Eight Wendy’s Restaurants January Auspex Capital Advises on the Acquisition of Six Wendy’s Restaurant for NutmegWen, LLC January Auspex Capital Advises on the Acquisition of a High-Volume Wendy’s Restaurant for River Flats, LLC January Auspex Capital Facilitates the Sale of 19 Taco Bell Restaurants for Plaza Dine, Inc. January

Auspex Capital Secures $35,000,000 in financing for Aarsand Holdings, LLC December Auspex Secures Financing for Desert de Oro Foods November Auspex Secures Financing for Hamra Group October Auspex Capital Facilitates the Sale of 45 Pizza Hut Restaurants for RGV Pizza Hut, LLC September Auspex Capital Facilitates the Sale of Seven Pizza Hut Restaurants for S&B Food Enterprises, Inc. August Auspex Capital Secures $3,700,000 in Financing for Vision August Auspex Capital Secures $26,061,973 in Financing for CKA Wendy’s August Auspex Capital Advises on the Acquisition of 8 Taco Bell Restaurants for RGT Foods, Inc. July Auspex Capital Advises on the Acquisition of Seven Wendy’s Restaurant for South GA Burgers, LLC June Auspex Capital Secures $10,500,000 Development Line for DDO1-Texas, LLC June Auspex Capital Advises on the Acquisition and Financing of Two Taco Bell Restaurants for C&R Restaurant Group, LP and CRRG Properties, LLC June Auspex Capital Facilitates the Sale of 12 Taco Bell Restaurants for Simply Tacos, Inc. and PSTB, LLC June Auspex Capital Advises on the Acquisition and Financing of 15 Wendy’s Restaurants for Muy Hamburger Partners, LLC May Auspex Capital Secures $7,600,000 in Financing for Cugine Foods, LLC May Auspex Capital Secures $7,600,000 in Financing for Cugine Foods, LLC May Auspex Capital Advises on the Acquisition and Financing of Six Taco Bell Restaurants for Border Foods April Auspex Capital Advises on the Acquisition and Financing of 35 Wendy’s Restaurants for Muy Hamburger Partners, LLC March Auspex Capital Advises on the Acquisition and Financing of 50% Interest in Seven Wendy’s Restaurants for Kas Foods, LLC March Auspex Capital Secures a Total of $141,000,000 in Financing for Cotti Foods, and an Affiliate, Tigerlily Properties, LLC March Auspex Capital Facilitates the Sale of Five KFC Properties for HEK Investments, LLC March Auspex Capital Secures $245,700,000 in Financing for Border Foods March Auspex Named a 2017 Dealmaker of the Year by Franchise Times Magazine February Auspex Capital Advises on the Acquisition of a Wendy’s Restaurant for River Flats, LLC February Auspex Capital Facilitates the Sale of 9 Long John Silver’s Restaurants for KD Foods Enterprises, Inc. February Auspex Capital Facilitates the Sale of 18 Pizza Hut Restaurants for Martin Enterprises, Inc. and Pizza Hut of Clinton, Inc. January Auspex Capital Advises on the Acquisition and Financing of 11 Papa John’s Restaurants for Pacific PJ, LLC January Auspex Capital Facilitates the Sale of Two Taco Bell Restaurants for Quality Foods, Inc. January

Auspex Capital Facilitates the Sale of 50 Taco Bell Restaurants for Chicago Diversified Foods, Inc. December Auspex Capital Secures a $5,000,000 Development Line of Credit for PSP Foods, LLC December Auspex Capital Facilitates the Sale of 7 Taco Bell Restaurants for Transition Restaurant Group, Inc. November Auspex Capital Advises on the Acquisition of 25 Wendy’s Restaurants for Hamra Chicago, LLC November Auspex Capital Secures $6,000,000 in Financing for Chicken Little Ventures, LLC November Auspex Capital Advises on the Acquisition and Financing of 27 Taco Bell Restaurants for Desert De Oro October Auspex Capital Structured and Placed More than $160 Million in Financing for a Valued Client September Auspex Capital Secures $17,500,000 in Financing for Northland Restaurant Group, LLC September Auspex Capital Secures $115,500,000 in Financing For JAE Restaurant Group August Auspex Capital Secures $89,765,000 in Financing for Cotti Foods Corporation July Auspex Capital Secures $29,900,000 in Financing for Muy Brands, LLC July Auspex Capital Facilitates the Sale of 19 Taco Bell Restaurants for ColCal California, Inc. July Auspex Capital Advises on the Acquisition of Three Wendy’s Restaurants for EmpireWen, Inc. July Auspex Capital Advises on the Acquisition and Financing of Five Wendy’s Restaurants for HudWen, LLC July Auspex Capital Advises on the Acquisition and Financing of Four Wendy’s Restaurants for CapWen, LLC June Auspex Capital Facilitates the Sale of 35 Taco Bell Restaurants for RGT Foods, Inc. and Affiliates May Auspex Capital Secures $27,000,000 in Financing for Progressive Restaurant Inc. and Affiliates April Sibling Duo Pay Price to Grow DDO in Texas, Franchise Times, April 2016 April Auspex Capital Secures $118,200,000 in Financing for BurgerBusters, Inc. March Auspex Capital Advises on the Acquisition and Financing of 82 Wendy’s Restaurants for MUY Hamburger Partners, LLC March Auspex Congratulates Mark Peterson and Krystal Burge Franchise Times’ 2016 Dealmakers of the Year March Auspex Capital Advises on the Acquisition and Financing of Five Wendy’s Restaurants for CapWen, LLC February Auspex Capital Secures $10,644,000 in Financing for Sage Family Investments, LLC January

Auspex Capital Advises on the Acquisition and Financing of 41 Wendy’s Restaurants for MUY Hamburger Partners, LLC December Auspex Capital Facilitates the Sale of 20 Taco Bell Restaurants for RGT Foods, Inc. and Affiliates December Auspex Capital Secures $6,100,000 in Financing for Orchard SPE, LLC December Marvin Development IV Secures $18,900,000 in Real Estate Financing December Auspex Capital Advises on the Acquisition and Financing of 21 Taco Bell Restaurants for Border Foods of Wisconsin, LLC December Auspex Capital Advises on the Acquisition and Financing of 10 Wendy’s Restaurants for MUY Hamburger Partners, LLC November Auspex Capital Secures $3,700,000 in Financing for J&S Foods November Auspex Capital Secures $15.8 Million in Financing for Doro, Inc. November Auspex Capital Advises on the Acquisition and Financing of 41 Hardee’s Restaurants for Big Bender, LLC November Auspex Capital Facilitates the Sale of 4 Taco Bell Restaurants for American Edge, Inc. November Auspex Capital Advises on the Acquisition and Financing of 17 Pizza Hut Properties for MUY Properties – MN, Ltd. October Auspex Capital Advises on the Acquisition and Financing of 12 Pizza Hut and Wendy’s Properties for ERFK, Ltd. October Auspex Capital Secures $35,000,000 in Financing for Muy Pizza Tejas, LLC September Auspex Capital Facilitates the Sale of Four Pizza Hut Properties September Auspex Capital Facilitates the Sale of 8 Restaurants for Fish Perfect, LLC September Auspex Capital Advises on the Acquisition and Financing of Four Wendy’s Restaurants for River Flats, LLC August Marvin Development IV Secures $5,400,000 in Real Estate Financing August Auspex Capital Secures $20,000,000 in Financing for Border Foods July Auspex Capital Facilitates the Sale of 24 Restaurants for D-Carr Investments, Inc. and Affiliates June Auspex Capital Advises on the Acquisition and Financing of 31 Wendy’s Restaurants for MUY Hamburger Partners, LLC May Auspex Capital Facilitates the Sale of 13 Restaurants for Taco Bay, Inc. April Auspex Capital Advises on Refinancing Transaction for C&R Restaurant Group, L.P. April Northland Restaurant Group Has Acquired 10 Hardee’s Restaurants March Auspex Capital Acts as Financial Advisor to JC Restaurants, LLC and its Affiliates March Auspex Capital Advised on the Acquisition and Financing of 8 KFC Restaurants for the Fulenwider Group March Auspex Capital Advises on the Acquisition and Financing of 12 Wendy’s Restaurants for BingCuse, LLC March Auspex Capital Facilitates the Sale of 36 Restaurants for R&L Foods February Auspex Capital Facilitates the Sale of 37 Taco Bell Restaurants for Northwestern Restaurants, Inc. January Auspex Capital Advises on the Acquisition and Financing of 80 Pizza Hut Restaurants for MUY Pizza Southeast, LLC January

Auspex Capital Facilitates the Sale of Five Burger King Restaurants December Auspex Capital Acts as M&A Advisor and Debt Placement Agent for Plaza Dine, Inc. November Auspex Capital Facilitates the Sale of Thirteen Restaurants October Auspex Capital Advises on Hardee’s Refinancing Transaction September Auspex Capital Facilitates the Sale of 28 Taco Bell Restaurants for Exceptional Restaurant Company, Inc. June Auspex Named a 2017 Dealmaker of the Year by Franchise Times Magazine March

Auspex Capital Facilitates the Sale of 46 Gas Stations December Auspex Capital Advises on the Sale of 54 Pizza Hut Restaurants December Auspex Capital Secures $17,000,000 in Financing for Paris and Potter December Auspex Capital Secures $10,000,000 in Financing for Plaza Dine, Inc. December Auspex Capital Advises on Senior Secured Real Estate Facility December Auspex Capital Secures $3.75 Million in Financing for HEK Investments, LLC December R&L Foods, Inc. Secures $28,100,000 in Financing November RGT Foods, Inc. Secures $49,300,000 in Credit Facility September Cugine Foods, LLC Secures $6,250,000 in Term Loans September Auspex Capital Acts as M&A Advisor and Debt Placement Agent for JC Restaurants, LLC and JJJ Real Estate, LLC September Auspex Capital Facilitates the Sale of Six Taco Bell Restaurants for 4M, Inc. September Border Foods, Inc. and Affiliates Secure $98,000,000 in Financing June Auspex Capital Acts as M&A Advisor and Debt Placement Agent for Atlantic Restaurants, LLC and Pacific Restaurants, LLC June Auspex Capital Acts as M&A Advisor and Debt Placement Agent for Gen2 Tacos, LLC and Gen2 Properties, LLC June Auspex Capital Acts as M&A Advisor and Debt Placement Agent to Mas Bells, LLC and Mas Tierra, LLC June Auspex Capital Acts as M&A Advisor and Debt Placement Agent for WMM, Inc. June Auspex Capital Acts as M&A Advisor and Debt Placement Agent for Full Tacos, LLC June

Muy Brands, LLC Secures $70,000,000 in Acquisition Financing December Auspex Capital Acts as Debt Placement Advisor to Tex-Mex Crunch Time Restaurants, LLC and Tex-Mex Crunch Time Properties, LLC December Orchard SPE, LLC Secures $2,500,000 in Term Loans and Remodel Line of Credit December Auspex Capital Facilitates the Sale of 76 Taco Bell Restaurants December Auspex Capital Acts as M&A Advisor and Debt Placement Agent to Northland Restaurant Group, LLC December Auspex Capital Acts as Debt Placement Agent and M&A Advisor to Muy Hamburger Partners, LLC December Muy Brands, LLC Completed the Sale of 44 Long John Silver’s Restaurants December Muy Brands, LLC Completed the Sale of 13 KFC Restaurants December Muy Brands, LLC Completed the Sale of 9 Taco Bell Restaurants December Georgia-Texas Enterprises, Inc. Secures $12,500,000 in Term Loans December Auspex Capital Facilitates the Sale of 31 KFC Restaurants December Auspex Capital Acts as M&A Advisor and Debt Placement Agent to Col-Cal December Chicken Little Ventures, LLC Secures $14,500,000 in Acquisition Financing December Auspex Capital Acts as Debt Placement Agent and M&A Advisor to Barracuda Holdings, LLC December Apex Brands–West, LLC, Secures $9,000,000 in Term Loans and Development Lines of Credit December Auspex Capital Advises on the Sale of 25 Taco Bell Restaurants September UP North, LLC Has Acquired Six Hardee’s Restaurants June Auspex Capital Acts as M&A Advisor and Debt Placement Agent to Northland Restaurant Group, LLC June Marvin Development III Secures $4,100,000 in Financing May Auspex Capital Secures $5,600,000 in Financing for RGT Foods, Inc. April Auspex Capital Facilitates the Recapitalization and Partial Sale of AIP Ventures, LLC April Auspex Capital Facilitates the Sale of 10 KFC Restaurants for Tennco Foods, Inc. February Sky Ventures, LLC Completes Recapitalization February

Auspex Capital Facilitates the Sale of Four Taco Bell Restaurants for Food System Management, Inc. December Auspex Capital Secures $12.7 Million in Financing for Border Foods of Wyoming, LLC December Auspex Capital Raises $4.8 million for Border Foods of Wyoming, LLC December Auspex Capital Advises Border Foods of Wyoming, LLC on Purchase of Six Restaurant Properties December Border Foods, Inc. Secures $40,000,000 in Financing September Paris and Potter Management Corporation Secures $10,000,000 in Financing July Auspex Capital Secures $16.75 Million in Financing for R&L Foods, Inc. June

Auspex Capital Acts as M&A Advisor and Debt Placement Agent to MUY Pizza Houston November Marvin Development III Secures $5,200,000 in Real Estate Financing November Auspex Capital Acts as M&A Advisor and Debt Placement Agent to MUY Pizza Tejas October Auspex Capital Acts as M&A Advisor and Debt Placement Agent to Hot Pizzas October Auspex Capital Secures $9.3 Million in Financing for Georgia-Texas Operating Company October Auspex Capital Advises 4B Pizza, Inc. on the Sale of 31 Pizza Hut Restaurants October Rackson Corporation, LLC Secures $2,000,000 in Financing September Auspex Capital Acts as M&A Advisor and Debt Placement Agent for a Papa John’s Transaction May Stoico Properties, LLC Secures Financing for Corporate Office Building April Auspex Capital Secures $5.0 Million in Financing for Beaton, Inc. February

Auspex Capital Advises Metroplex Multifoods, Inc. on the Sale of Seven KFC Restaurants October Auspex Capital Successfully Raises Debt for Acquisition of 28 KFC Restaurants September Auspex Capital Advises on the Acquisition of Five Taco Bell Restaurants by Zee Tacos, LLC June Auspex Capital Secures $1.6 Million in Financing for Northland Restaurant Group, LLC May J&S Foods Completes Partner Buy-out and Recapitalization May Auspex Capital Advises on Acquisition and Secures $1.1 Million in Acquisition Financing for PJ Cleveland, LLC April Auspex Capital Advises DDO-Utah, LLC on Acquisition of 14 Taco Bell Restaurants April Auspex Capital Advises on the Acquisition of 30 LJS Restaurants by MUY Brands, LLC February

Auspex Capital Advises Sentinel Capital Partners on Acquisition of 123 Pizza Hut stores and Secures $24.3 Million in Debt Financing October Auspex Capital Assists Plaza Dine, Inc. with $1.275 Million Construction Line of Credit September Auspex Capital Advises on the Acquisition of 15 LJS Restaurants by MUY Brands, LLC September Auspex Capital Secures $1.4 Million in Financing for D.C. Bruce, Inc. September Auspex Capital Assists Gilbertson Restaurants, Inc. with the Placement of Bridge Financing and Long Term Debt August Auspex Capital Secures $1.5 Million in Financing for 30BY15, LLC August Auspex Capital Advises on Acquisition and Secures $9.0 Million in Acquisition Financing for Progressive Restaurants April Auspex Capital Advises on the Acquisition of 15 Taco Bell Restaurants By Maple Restaurant Group April Auspex Capital Advises on the Acquisition of 21 Hardee’s Restaurants By Northland Restaurant Group February Auspex Capital Assists B&G Food Enterprises with $38.0 Million Refinance February