Financial Services M&A Report Q3 2018

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1 Integrity Expertise Results Overview Nationally recognized and well-established investment bank founded in 2000 Over 300 transactions completed, totaling more than $10 billion in transaction value Extensive relationships with leading institutional lenders, PE investors, and strategic buyers Proven ability to source quality buyers and maximize deal value Industry Expertise Technology Healthcare Financial Services M&A Report Q Business Services Industrial Services Financial Services Consumer Transaction Size $25MM - $500MM Investment Banking Services Mergers & acquisitions, recapitalizations, and management buyouts Capital raising of equity, mezzanine, and senior debt capital Financial advisory, analytical support, and fairness opinions Comprehensive and targeted sell-side marketing efforts Hyde Park Capital Advisors, LLC 701 N. Franklin Street Tampa, FL Tel: Member FINRA/SIPC

2 Capital Markets Overview Financial Services Commentary Select Public Offerings Financial Services (Q3 2018) The Dow Jones U.S. Financial Services Index increased 16.1% over the 12-month period ended September 30, 2018, outpacing the S&P 500, which increased 15.2%. Notable initial public offerings in the Financial Services industry during the quarter included Churchill Capital Corp. (NYSE:CCC.UN), and Collier Creek (NYSE:CCH), both of which operate within the asset management sector, raising $600 million and $400 million, respectively. The Payment Processing subsector of the Financial Technology sector led the industry with respect to valuation during the third quarter, trading at an EBITDA multiple of 21.1x. Offer Date Issuer Industry Sector Transaction Type Transaction Value ($MM) 09/19/18 Ford Motor Credit Co. Automotive Financing Fixed-Income $750 09/18/18 Graf Industrial Corp. Consumer Finance IPO $225 09/12/18 Collier Creek Holdings Consumer Finance IPO $400 09/12/18 American Beacon Apollo Total Return Fund Consumer Finance IPO $250 08/17/18 Churchill Capital Corp. Consumer Finance IPO $600 08/10/18 Gores Holdings III, Inc. Life and Health Insurance IPO $375 08/01/18 BP Capital Markets America, Inc. Consumer Finance Fixed-Income $1,000 07/31/18 American Express Co. Consumer Finance Fixed-Income $1,848 07/20/18 Spartan Energy Acquisition Corp. Consumer Finance IPO $480 07/16/18 JPMorgan Chase & Co. Consumer Finance Fixed-Income $2,250 Public Market Performance () Public Company Market Performance by Sector 130% 120% 16.1% 15.2% 110% 100% 90% Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 S&P 500 Index Dow Jones U.S. Financial Services Index Source: Capital IQ. Median Change in Stock Price Enterprise Value / Industry Sector 3 Months 12 Months EBT Book Value Specialty Finance Consumer Finance (5.9%) 26.4% 9.6x 1.7x Automotive Financing 8.4% 25.8% 6.9x 1.0x 3.9% 26.4% 7.9x 1.4x Median Change in Stock Price Enterprise Value / 3 Months 12 Months Revenue EBITDA Financial Technology Payment Processing 1.0% 43.8% 6.5x 21.1x Data & Compliance 1.0% 19.0% 5.7x 17.9x 10.1% 37.7% 6.1x 19.4x Insurance Life & Health Insurance 11.1% 21.4% 1.1x 10.5x Property & Casualty Insurance 9.0% 5.5% 1.4x 10.1x Multi-line Insurance 5.9% (3.9%) 0.9x 8.5x Insurance Brokers 4.7% 3.2% 3.0x 16.1x 8.9% 10.4% 1.3x 10.1x 2

3 Total Transaction Volume Total Transaction Value ($ in billions) Annual M&A Activity Financial Services Commentary Completed U.S. M&A Transactions by Deal Size U.S. middle-market M&A activity in the Financial Services industry increased during the year-to-date period ended September 30, 2018 to 146 closed transactions, an 11% increase from the 131 transactions closed during the prior year period. The total value of completed deals in the middle-market was also up during the first three quarters, supported by a 33% increase in deals valued between $500 and $999 million. M&A activity in the industry is poised to remain strong, driven by Financial Technology companies, which are trading at a historic pace. During YTD 2018, global investment in fintech companies has already exceeded the total value for ($ in billions) Deal Size Volume Value Volume Value Volume Value Less than $100M 73 $ $3.6 11% 17% $100 - $499M 49 $ $13.0 6% 14% $500 - $999M 9 $ $9.4 44% 33% Total Middle Market 131 $ $ % 21% = % of Total Market YTD 2017 YTD 2018 % Change Less than $100M 56% 14% 55% 14% $100 - $499M 37% 54% 36% 50% $500 - $999M 7% 32% 9% 36% Total Middle Market 100% 100% 100% 100% U.S. M&A Activity Annual Trends: VOLUME U.S. M&A Activity Annual Trends: VALUE 300 $40 $ $35 $30 $25 $20 $15 $31.9 $13.4 $24.4 $21.0 $23.8 $24.9 $25.2 $30.3 $27.5 $21.5 $25.9 $10 50 $ YTD 2017 YTD 2018 $ YTD 2017 YTD 2018 Less than $100M $100 - $499M $500 - $999M Less than $100M $100 - $499M $500 - $999M Source: Capital IQ (middle market includes all closed deals with disclosed deal value between $10 million and $1 billion). The Pulse of Fintech 2018 KPMG. 3

4 Total Transaction Volume Total Transaction Value ($ in billions) Quarterly M&A Activity Financial Services Commentary Completed U.S. M&A Transactions by Deal Size Middle-market M&A activity was strong during Q3 2018, with 43 closed transactions, compared to 38 deals during Q2 2017, a 13% increase QoQ. There was a notable increase in deals valued between $500 million and $1 billion, as volume in this range doubled and total value was up 82% over the prior year period. ($ in billions) Q Q % Change Deal Size Volume Value Volume Value Volume Value Less than $100M 17 $ $1.0 29% 50% $100 - $499M 17 $ $3.2 (24%) (25%) $500 - $999M 4 $3.2 8 $ % 82% Total Middle Market 38 $ $ % 23% The industry s healthy deal environment has been benefitted by Financial Services companies embrace of emerging technology, as evidenced by the pace of deal flow in the Financial Technology sector in newer areas of innovation, including artificial intelligence (AI) and data analytics. % of Total Market Less than $100M 45% 8% 51% 10% $100 - $499M 45% 52% 30% 32% $500 - $999M 10% 40% 19% 58% Total Middle Market 100% 100% 100% 100% U.S. M&A Activity Quarterly Trends: VOLUME U.S. M&A Activity Quarterly Trends: VALUE 75 $12 $ $10 $8 $6 $7.9 $7.6 $7.0 $9.5 $6.5 $8.6 $8.2 $9.7 $6.2 $ $4 $4.4 $ $2 0 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3'16 Q4 '16 Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18 Q2 '18 Q3 '18 $0 Q3 '15 Q4 '15 Q1 '16 Q2 '16 Q3'16 Q4 '16 Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18 Q2 '18 Q3 '18 Less than $100M $100 - $499M $500 - $999M Less than $100M $100 - $499M $500 - $999M Source: Capital IQ (middle market includes all closed deals with disclosed deal value between $10 million and $1 billion). 4

5 Recent M&A Activity Financial Services Select M&A Transactions (Q3 2018) Announced Date Target Buyer Industry Enterprise Value ($MM) EV / Revenue EV / EBITDA 09/28/18 National Health Finance JustKapital Litigation Partners Life & Health Insurance $53 NA NA 09/23/18 Corporate Capital Trust FS Investment Cosumer Finance $8, x 21.7x 09/19/18 Global Reinsurance Corp. Randall & Quilter Investment Holdings Insurance Brokers $81 NA NA 09/19/18 Dunbar Armored Brink's Cosumer Finance $520 NA NA 09/18/18 Zodiac Insurance Services, Inc. AFL Insurance Brokers Insurance Brokers NA NA NA 09/17/18 Gerber Life Insurance Co. Western & Southern Financial Group, Inc. Life & Health Insurance $1,550 NA NA 09/07/18 MTGE Investment Annaly Capital Cosumer Finance $ x NA 08/31/18 Maiden Reinsurance North America, Inc. 08/22/18 The Navigators Group, Inc. Enstar Holdings, Inc. Insurance Brokers $308 NA NA The Hartford Financial Services Group, Inc. Property & Casualty Insurance $2,165 NA NA 08/15/18 TRANSAX, Inc. Synergy Commerce Data & Compliance NA NA NA 07/11/18 CA, Inc. Broadcom, Inc. Data & Compliance $18, x 14.7x 07/10/18 Boston Indemnity Group, Inc. Houston Intl. Insurance Group Insurance Brokers NA NA NA 07/09/18 Reassurance Holdings, Inc. Arthur J. Gallagher & Co. Insurance Brokers NA NA NA 07/09/18 WNC Insurance Services, Inc. Tokio Marine Kiln Group Property & Casualty Insurance NA NA NA 07/02/18 Infinity Property & Casualty Kemper Property & Casualty Insurance $1, x 11.3x 07/01/18 Hermes Investment Management Federated Investors Cosumer Finance $ x 41.0x Sources: Capital IQ; PitchBook. 5

6 Total Transaction Volume Private Equity Activity Financial Services Commentary Select Private Equity Transactions (Q3 2018) Financial sponsors were active across several sectors of the Financial Services industry during Q3 2018, but were most active in the Insurance sector, with 40 announced deals. The sector s predictable revenue streams make insurance an attractive investment option for private equity firms, ho have expressed increased interest in stable and recurring cash flow. Several notable transactions were announced during the quarter including Francisco Partners $3.0 billion buyout of payment processor VeriFone, Black Knight s acquisition of data and analytics company Dun & Bradstreet for $6.9 billion, and Edelman s purchase of Financial Engines, a tech-enabled investment advisor, for $3.0 billion. Announced Date Target Buyer Industry Enterprise Value ($MM) 09/22/18 Flores & Associates Century Equity Insurance NA 09/17/18 Prolific Business Solutions A&M Capital Specialty Finance NA 09/13/18 Biddle & Co. Apax Partners Insurance NA 09/13/18 Vanbridge Oak Hill Capital/ Stone Point Capital Insurance 09/10/18 Roemer Insurance Apax Partners Insurance NA 09/05/18 LMG International New Mountain Capital Insurance NA NA Financial Sponsors Industry Transactions 09/01/18 Newport Group Kelso Private Equity Specialty Finance NA 08/21/18 Miria Systems Aquiline Capital Financial Technology NA 50 08/20/18 VeriFone Francisco Partners Financial Technology $3, /16/18 Wyre FTV Capital Financial Technology NA 30 08/15/18 Affinion Insurance Solutions Mill Point Capital Insurance $550 08/08/18 Dun & Bradstreet Black Knight Financial Technology $6, /01/18 BlueStrata TPG Capital Financial Technology NA /01/18 SIRVA Worldwide Madison Dearborn Partners Other (Banks) NA 0 Specialty Finance Financial Technology Insurance Other (Banks) 07/19/18 Financial Engines Edelman Financial Services Other (Banks) $3,002 Sources: Capital IQ; PitchBook. 6

7 Industry Sector Overview Recent Stock Price Performance Commentary The charts on the following pages detail stock price performance by sector for the leading public companies within the Financial Services industry for the trailing 12-month period ending September 30, The shaded section is the most recent 3-month period (Q3) for each sector index relative to the S&P 500. The industry s sectors had mixed results over the trailing 12- month period. Payment Processing was the industry s top performer, up 43.8%, followed by Consumer Finance with an increase of 26.5%. Three out of four subsectors within HPC s Insurance Index underperformed compared to the S&P 500. The Multi-line Insurance subsector had the worst performance, falling 3.9%. Specialty Finance 160% 150% 140% 26.4% 130% 25.8% 120% 110% 15.2% 100% 90% Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 S&P 500 Index HPC Consumer Finance Index HPC Auto Finance Index Financial Technology Insurance 150% 130% 43.8 % 140% 120% 21.4% 130% 15.2% 120% 110% 19.0 % 15.2 % 110% 100% 5.5% 3.2% 100% 3.9% 90% Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 90% Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 S&P 500 Index HPC Data & Compliance Index HPC Payment Processing Index S&P 500 Index HPC Life & Health Index HPC Property & Casualty Index HPC Multi-line Index HPC Brokers Index Source: Capital IQ. 7

8 Industry Sector Overview Public Company Analysis Specialty Finance ($ in millions, except per share) Consumer Finance Closing Price % of 52 Equity Enterprise Company Ticker 9/28/18 Week High Value Value EBT Net Income Book Value EBT Net Income Book Value OneMain Holdings, Inc. OMF $ % $4,570 $18,381 $646 $318 $1, x 14.4x 2.5x FirstCash, Inc. FCFS $ % $3,748 $4,208 $211 $173 $ x* 21.7x 11.5x* Enova Int'l, Inc. ENVA $ % $1,006 $1,608 $91 $68 $ x 14.7x 20.1x* World Acceptance Corp. WRLD $ % $1,048 $1,282 $105 $24 $ x NA 1.9x Regional Management Corp. RM $ % $347 $934 $44 $35 $ x 9.8x 1.4x EZCORP, Inc. EZPW $ % $619 $748 $65 $38 $ x 16.3x 1.6x Average 81.6% $1,890 $4,527 $193 $109 $ x 15.4x 1.8x Median 81.7% $1,027 $1,445 $98 $53 $ x 14.7x 1.7x Equity Value / Automotive Financing Closing Price % of 52 Equity Enterprise Company Ticker 9/28/18 Week High Value Value EBT Net Income Book Value EBT Net Income Book Value Ally Financial Inc. ALLY $ % $11,512 $62,171 $1,671 $1,154 $12, x 10.0x 0.9x Santander Consumer USA Holdings Inc. SC $ % $7,245 $38,840 $1,044 $1,404 $7, x 5.2x 1.0x Credit Acceptance Corp. CACC $ % $8,543 $12,013 $677 $599 $1, x 14.3x 4.4x Consumer Portfolio Services, Inc. CPSS $ % $81 $2,294 $22 ($0) $ x NM 0.4x America's Car-Mart, Inc. CRMT $ % $561 $719 $47 $46 $ x 12.3x 2.3x Nicholas Financial, Inc. NICK $ % $92 $240 $4 NM $ x* NM 0.8x Average 88.8% $4,672 $19,379 $577 $640 $3, x 10.4x 1.6x Median 89.5% $3,903 $7,154 $362 $599 $1, x 11.1x 1.0x Equity Value / Source: Capital IQ. *Excluded from average and median calculation. 8

9 Industry Sector Overview Public Company Analysis ($ in millions, except per share) Payment Processing Financial Technology Closing Price % of 52 Equity Enterprise Margins Enterprise Value / Company Ticker 9/28/18 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA Visa Inc. V $ % $351,924 $362,120 $20,030 $19,365 $13, % 68.3% 16.7x* 26.5x Mastercard Inc. MA $ % $235,855 $234,061 $13,955 $13,955 $8, % 58.8% 15.6x* 28.5x PayPal Holdings, Inc. PYPL $ % $106,945 $103,980 $14,525 $6,775 $2, % 18.2% 7.2x 36.6x* First Data Corp. FDC $ % $23,185 $44,160 $8,540 $5,450 $2, % 35.1% 5.2x 14.7x Fiserv, Inc. FISV $ % $34,843 $39,301 $5,776 $2,754 $1, % 32.0% 6.8x 21.3x Alliance Data Systems Corp. ADS $ % $13,107 $33,781 $7,807 $1,952 $1, % 22.7% 4.3x 19.1x Worldpay, Inc. WP $ % $22,603 $30,737 $3,957 $2,981 $1, % 29.5% 7.8x 26.3x Global Payments, Inc. GPN $ % $20,224 $24,185 $3,721 $2,201 $1, % 32.8% 6.5x 19.8x Total System Services, Inc. TSS $ % $18,227 $21,842 $4,516 $1,447 $1, % 23.0% 4.8x 21.0x Average 96.2% $91,879 $99,352 $9,203 $6,320 $3, % 35.6% 6.1x 22.1x Median 98.6% $23,185 $39,301 $7,807 $2,981 $1, % 32.0% 6.5x 21.1x Data & Compliance Closing Price % of 52 Equity Enterprise Margins Enterprise Value / Company Ticker 9/28/18 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA S&P Global Inc. SPGI $ % $49,942 $53,201 $6,277 $4,523 $3, % 48.9% 8.5x 17.3x Thomson Reuters Corp. TSX:TRI $ % $32,505 $39,934 $11,412 $3,227 $2, % 21.8% 3.5x 16.1x Moody's Corp. MCO $ % $32,504 $36,644 $4,530 $3,232 $2, % 47.2% 8.1x 17.2x Experian plc EXPN $ % $23,695 $27,135 $4,741 $2,021 $1, % 30.6% 5.7x 18.7x Verisk Analytics, Inc. VRSK $ % $20,311 $22,956 $2,302 $1,451 $1, % 45.4% 10.0x 22.0x Nielsen Holdings plc NLSN $ % $9,880 $18,341 $6,659 $3,816 $1, % 24.9% 2.8x 11.1x Equifax Inc. EFX $ % $15,832 $18,194 $3,416 $2,108 $ % 28.8% 5.3x 18.5x TransUnion TRU $ % $13,999 $18,087 $2,105 $1,391 $ % 36.3% 8.6x 23.7x MSCI Inc. MSCI $ % $16,344 $17,550 $1,371 $1,091 $ % 53.0% 12.4x* 24.2x The Dun & Bradstreet Corp. DNB $ % $5,316 $6,469 $1,813 $1,242 $ % 29.3% 3.6x 12.2x Average 91.9% $22,032 $25,851 $4,463 $2,410 $1, % 36.6% 6.2x 18.1x Median 95.2% $18,327 $20,648 $3,973 $2,064 $1, % 33.4% 5.7x 17.9x Source: Capital IQ. *Excluded from average and median calculation. 9

10 Industry Sector Overview Public Company Analysis ($ in millions, except per share) Life & Health Property & Casualty Insurance Closing Price % of 52 Equity Enterprise Margins Enterprise Value / Company Ticker 9/28/18 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA UnitedHealth Group Inc. UNH $ % $262,581 $280,105 $213,657 $50,757 $18, % 8.5% 1.3x 15.5x MetLife, Inc. MET $ % $49,070 $122,326 $67,954 $18,076 $6, % 8.9% 1.8x 18.4x* Anthem, Inc. ANTM $ % $72,445 $68,132 $90,581 $19,031 $6, % 6.7% 0.8x 11.2x Prudential Financial, Inc. PRU $ % $43,732 $53,762 $62,460 $19,342 $7, % 12.4% 0.9x 7.0x Cigna Corp. CI $ % $51,729 $53,218 $43,574 $14,669 $4, % 11.4% 1.2x 10.7x Aflac Inc. AFL $ % $37,024 $42,203 $22,125 $7,462 $4, % 20.8% 1.9x 9.2x Humana Inc. HUM $ % $47,836 $35,565 $55,009 $10,522 $3, % 6.2% 0.6x 10.4x Centene Corp. CNC $ % $26,484 $25,688 $48,652 $9,117 $2, % 4.6% 0.5x 11.4x Lincoln National Corp. LNC $ % $15,077 $18,022 $14,809 $4,839 $2, % 15.5% 1.2x 7.8x Principal Financial Group, Inc. PFG $ % $17,132 $17,535 $13,984 $6,442 $2, % 20.1% 1.3x 6.2x Torchmark Corp. TMK $ % $10,160 $11,499 $4,258 $1,231 $ % 22.9% 2.7x 11.8x Unum Group UNM $ % $8,736 $10,408 $11,448 $3,305 $1, % 14.6% 0.9x 6.2x WellCare Health Plans, Inc. WCG $ % $14,469 $9,761 $18,033 $2,658 $ % 4.4% 0.5x 12.4x Genworth Financial, Inc. GNW $ % $2,094 $5,380 $8,175 $925 $ % 11.2% 0.7x 5.9x Average 89.0% $47,041 $53,829 $48,194 $12,027 $4, % 12.0% 1.2x 9.7x Median 92.2% $31,754 $30,627 $32,850 $8,290 $3, % 11.3% 1.1x 10.4x Closing Price % of 52 Equity Enterprise Margins Enterprise Value / Company Ticker 9/28/18 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA Chubb Ltd. CB $ % $62,759 $75,448 $33,013 $7,512 $4, % 13.5% 2.3x 16.9x The Progressive Corp. PGR $ % $41,683 $42,868 $29,337 $3,009 $3, % 10.7% 1.5x 13.7x The Allstate Corp. ALL $ % $35,665 $40,803 $38,936 $9,545 $5, % 13.5% 1.0x 7.8x The Travelers Companies, Inc. TRV $ % $35,573 $37,930 $29,539 $7,260 $3, % 12.8% 1.3x 10.1x Markel Corp. MKL $1, % $16,599 $15,883 $6,731 $2,818 $ % 7.5% 2.4x 34.3x* CNA Financial Corp. CNA $ % $12,433 $13,529 $9,955 $3,281 $1, % 15.1% 1.4x 9.0x Cincinatti Financial Corp. CINF $ % $12,704 $13,072 $5,605 $686 $ % 11.7% 2.3x 29.9x* Average 90.5% $34,119 $37,744 $24,585 $5,571 $3, % 12.2% 1.6x 11.5x Median 89.9% $35,619 $39,367 $29,438 $5,271 $3, % 13.1% 1.4x 10.1x Source: Capital IQ. *Excluded from average and median calculation. 10

11 Industry Sector Overview Public Company Analysis ($ in millions, except per share) Multi-line Insurance Closing Price % of 52 Equity Enterprise Margins Enterprise Value / Company Ticker 9/28/18 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA Allianz SE DB:ALV $ % $97,926 $114,367 $124,761 $26,949 $15, % 12.2% 0.9x 7.5x AXA SA ENXTPA:CS $ % $64,243 $95,430 $143,519 $21,769 $9, % 6.5% 0.7x 10.2x American Int'l Group, Inc. AIG $ % $48,282 $63,550 $47,647 $10,447 $6, % 13.3% 1.3x 10.0x Zurich Insurance Group AG SWX:ZURN $ % $47,800 $48,140 $60,675 $13,176 $6, % 10.2% 0.8x 7.8x Loews Corp. L $ % $16,614 $25,479 $14,247 $6,771 $2, % 20.9% 1.8x 8.5x The Hartford Financial Services Group, Inc. HIG $ % $17,901 $19,357 $18,036 $5,904 $2, % 13.5% 1.1x 8.0x American Financial Group, Inc. AFG $ % $10,015 $10,310 $6,904 $1,296 $1, % 15.8% 1.5x 9.4x Assurant, Inc. AIZ $ % $6,036 $6,466 $6,733 $570 $ % 7.4% 1.0x 13.0x National General Holdings Corp. NGHC $ % $2,916 $3,560 $4,438 $1,178 $ % 8.3% 0.8x 9.7x American National Insurance Co. ANAT $ % $3,484 $2,884 $3,553 $867 $ % 11.6% 0.8x 7.0x Average 89.6% $54,973 $69,393 $78,170 $15,822 $8, % 12.6% 1.1x 8.8x Median 92.9% $48,282 $63,550 $60,675 $13,176 $6, % 12.2% 0.9x 8.5x Brokers Closing Price % of 52 Equity Enterprise Margins Enterprise Value / Company Ticker 9/28/18 Week High Value Value Revenue Gross Profit EBITDA Gross Profit EBITDA Revenue EBITDA Marsh & McLennan Companies, Inc. MMC $ % $42,601 $47,898 $14,760 $6,528 $3, % 23.7% 3.2x 13.7x Aon plc AON $ % $38,791 $44,761 $10,900 $4,935 $2, % 20.8% 4.1x 19.7x Willis Towers Watson WLTW $ % $18,886 $22,795 $8,126 $3,208 $1, % 17.4% 2.8x 16.1x Arthur J. Gallagher & Co. AJG $ % $13,708 $16,613 $6,451 $1,869 $1, % 15.8% 2.6x 16.3x Brown & Brown, Inc. BRO $ % $8,362 $8,739 $1,920 $893 $ % 30.6% 4.6x 14.9x Fanhua Inc. FANH $ % $1,743 $1,427 $539 $161 $ % 11.5% 2.6x 25.9x* Health Insurance Innovations, Inc. HIIQ $ % $788 $755 $272 NM $35 NM 12.9% 2.8x 21.5x Crawford & Co. CRD.A $ % $507 $697 $1,121 $321 $ % 8.8% 0.6x 7.0x Average 89.7% $20,682 $23,706 $7,116 $2,932 $1, % 20.0% 3.3x 16.1x Median 93.9% $16,297 $19,704 $7,288 $2,538 $1, % 19.1% 3.0x 16.1x Source: Capital IQ. *Excluded from average and median calculation. 11

12 Integrity Expertise Results Overview Nationally recognized and well-established investment bank founded in 2000 Over 300 transactions completed, totaling more than $10 billion in transaction value Recent Transactions Extensive relationships with leading institutional lenders, PE investors, and strategic buyers Proven ability to source quality buyers and maximize deal value Industry Expertise Technology Healthcare Business Services Industrial Services Financial Services Consumer Transaction Size $25MM - $500MM Investment Banking Services Mergers & acquisitions, recapitalizations, and management buyouts Capital raising of equity, mezzanine, and senior debt capital Financial advisory, analytical support, and fairness opinions Comprehensive and targeted sell-side marketing efforts Hyde Park Capital Advisors, LLC 701 N. Franklin Street Tampa, FL Tel: Member FINRA/SIPC