Statement Concerning COVID-19 From: Mark Pomykacz, Managing Member To: Client of and Community to Federal Appraisal LLC Date: March 18, 2020 RE: Statement Concerning COVID-19 We wish to inform our clients and community, that Federal Appraisal LLC remains committed to fully serve during the COVID-19 crisis. We have taken appropriate actions to combat the spread of COVID-19, to protect our professionals, clients, and community. Furthermore, we remain open for business and fully operational. While we take these COVID-19 actions, we remain fully capable to serve our clients’ needs. The nature of our work processes lends itself to the exercise requirements of social distancing. Our work, specifically our practice, is significantly but not completely technology-based, requiring less person-to-person interaction than many businesses. All of our staff can, and frequently do, work remotely, with full computerization and telecommunication abilities. That said, as social distancing is precisely designed to do, processes may be slowed down. Most notably, we wish to advise our clients, that despite our best efforts, social distancing between our professionals, our professionals and clients, and our professionals and third parties requisite for the completion of our work will likely result is slower processes, in some cases. We wish to advise our clients we will make all practical efforts to compensate for this issue, but at this time, we do not know what will result. As our first step towards compensation, we hereby ask our clients to inform us of any of their special needs during COVID-19 crisis. Federal Appraisal LLC wishes everyone health and safety during this time. Full memo here. Update as of March 26, 2020 Additional Appraisal Services COVID-19 will cause the values of many real estate investments and businesses to decline. Currently we are working with the opinion that the current economic cycle peaked on approximately March 1, 2020, when it became clear that COVID-19 was going to cause an inflection point in our economy. Up to March 1, 2020, we were generally forecasting that values were increasing modestly and steadily, along with a growing economy. After March 1, 2020, we are and will be forecasting decreasing values, as we enter a recession. Furthermore, we of the opinion that this recessionary inflection will be sharp, with steep declines in value immediately after March 1, 2020, with the potential for steady additional declines in the coming months. Our research analysts are currently working to quantify the amount of the declines. Of course, we will customize these estimated declines for each appraisal subject and its specific circumstances. At the moment, we are working with the hypothesis that the initial declines in value could frequently be in the -10% to -35% range with additional declines later this year. CARES Act and Special Depreciation Cost Segregation Estate & Gift Tax

MRICS RICS is the Royal Institute of Chartered Surveyors. Membership offers an internationally recognized professional qualification that increases status in your field of work. Membership is only awarded to individuals who are prepared to maintain exemplary standards, for the public advantage.

ASA “ASA” stands for the “American Society of Appraisers” and also for members with the designation of “Accredited Senior Appraiser.” An appraiser must invest in academic study, hands-on, full-time experience, and must prove competency through passing qualifying examinations in valuation theory, ethics, and at least one specialty, plus peer-review approval of appraisal reports. AM designation requires two years of full-time appraising experience, and ASA designation requires five years. FASA is the highest level, only awarded to ASA-level members by the Board of Governors for notable contributions to the society and the appraisal profession

AI-GRS Federal Appraisal LLC is pleased to announce that its managing partner, Mark Pomykacz, has been awarded the AI-GRS designation from the Appraisal Institute. The AI-GRS designation is given to those senior commercial appraisers who have demonstrated advanced education and experience in appraisal review. The Appraisal Institute reports that “The AI-GRS membership designation is held by professionals who can provide reviews of appraisals of a wide range of property types, including commercial, industrial, agricultural, residential, vacant land and others.” The AI-GRS review designation is for professionals who recognize the critically important role that appraisal review plays in risk management and mitigation for many clients/users of appraisal services. The designation shows both education and experience that significantly surpasses the threshold needed for state certification, demonstrating professional knowledge, understanding, and ability. Mark Pomykacz, who has been appraising for over 29 years, specializes in real estate and business appraisal of complex assets and issues, nationally. Mark holds several advanced designations, including MAI, MRICS and now, AI-GRS.