CAS Investment Partners, LLC

CAS, a Delaware LLC founded by Clifford Sosin in October 2012, registered with the SEC as an investment adviser in September 2017. CAS manages funds and other accounts, allocating investment opportunities fairly over time while addressing potential conflicts of interest through established policies. These include procedures for pro-rata allocation of opportunities based on assets under management and equitable treatment of clients with differing fee structures. CAS also manages the assets of its principals and ensures fair allocation of limited opportunities among its clients.

Clifford A. Sosin

Clifford A. Sosin is the founder and investment manager of CAS Investment Partners. LLC ("CAS"), which he launched in October 2012. Immediately prior to founding CAS, Mr. Sosin was a Director in the Fundamental Investment Group of UBS for five years where he was a senior member of a team analyzing equities and fixed income securities. Prior to UBS, Mr. Sosin was employed as an analyst by Silver Point Capital, a hedge fund which invested in high yield and distressed opportunities, as well as by Houlihan Lokey Howard & Zukin, a leading investment bank best known for its advisory services with respect to companies requiring financial restructuring. Mr. Sosin earned both a B.S. in Engineering (High Honors) and a B.A, in Economics from Swarthmore College.

Lance Ettus

Lance is the Senior Analyst for CAS. Prior to joining CAS, Lance held positions at Tuohy Brothers as an Energy Analyst, EosMortar Rock/Eos Partners as a Hedge Fund Analyst‐Alternative Assets, and Calyon Securities as a Research Associate focus on Utilities and Energy Merchants. Academically, Lance has a B.S. Business Administration from the University of Buffalo.

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