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The Reporting
Persons hold their shares of the Common Stock of the Company for investment purposes. The Reporting Persons intend to communicate,
directly or through intermediaries, with members of the Issuer’s management and board of directors, concerning matters relating
to the business and affairs of the Issuer, including discussions relating to the composition and selection of the Issuer’s
board of directors and management team generally, and the potential for representation by the Reporting Persons on the Issuer’s
board of directors. These discussions may also include assisting and engaging with the Issuer on a review of its strategic activities,
assessment of its organization, opportunities for operational improvement, and the pursuit of initiatives for enhancing shareholder
value (including but not limited to strategic mergers and acquisitions, balance sheet optimization, use of leverage, dividend and
share repurchase policy, or a going private transaction).
The Reporting Persons intend to review their
investment in the Issuer on a continuing basis. Depending on various factors including, without limitation, the Issuer’s
financial position and investment strategy, the price levels of the Shares, conditions in the securities markets and general economic
and industry conditions, the Reporting Persons may at any time and from time to time, (i) acquire Common Stock and/or other securities
of the Issuer (collectively, “Issuer Securities”), (ii) sell, transfer or otherwise dispose of Issuer Securities
in public or private transactions, (iii) engage in or encourage communications with the Issuer, members of management and the board
of directors of the Issuer, other existing or prospective security holders, industry analysts, existing or potential strategic
partners or competitors, investment and financing professionals, sources of credit and other investors to consider exploring any
items mentioned in this Statement, and/or (iv) take such other actions and pursue such other options with respect to their investment
in the Issuer as they deem appropriate including, without limitation, any of the actions referred to in paragraphs (a)-(j) of Item
4 of Schedule 13D under the Act, as amended.
Except as set forth above, the Reporting
Persons have no plans or proposals which relate to or would result in any of the actions enumerated in clauses (a)-(j) of Item 4
of Schedule 13D under the Act, as amended.
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