Boyar about

Mark A. Boyar, President

Mark A. Boyar, President of Mark Boyar & Company, has worked as a securities analyst since 1968. He
began actively managing money in 1975, and in 1975 he began to publish Asset Analysis Focus, a monthly
research report that identifies and evaluates companies he and his team of analysts believe are undervalued.

A successful money manager and an expert on mergers and acquisitions, Mark Boyar has been quoted in
publications such as Barron's, Business Week, Financial World, Forbes, Money Magazine, The Wall Street
Journal, USA Today, The International Herald Tribune, and The New York Times.

Before coming to Wall Street, Mr. Boyar was employed on the audit staff of Price Waterhouse. He earned a
BS at C.W. Post College of Long Island University, and in 1985 was honored with the School of Business and
Public Administrations Alumni reward for distinguished leadership and achievement. He also attended Suffolk
University Law School in Boston, Mass.

Mr. Boyar is a member of the Federation of Financial Analysts and the New York Society of Security Analysts.
He currently serves on the Board of Trustees of Long Island University and is Chairman of its Investment
Committee.

Mr. Boyar is married and has two sons.

Joseph Mareci, CFA, Senior Analyst

With over 15 years of investment experience, Joe joined Boyar in early 2005. Prior to joining the firm, Joe was a Vice President at Walnut Asset
Management where he led the firm’s equity research capabilities, served on the investment policy committee, and managed several institutional
insurance portfolios. Previously, Joe was an analyst at IAS, an institutional investment consulting firm specializing in the insurance industry. Joe is a
past member of the Philadelphia Securities Association, where he held several roles including a member of the group’s Board of Governors. Joe
received a BS in Finance from Penn State University and is a CFA charterholder and a member of the New York Society of Security Analysts and
the CFA Institute (formerly AIMR).

Elizabeth Trudell, CFA, Analyst

Liz Trudell joined Boyar in 1982. Liz earned an MBA in finance from New York University and a BA from Vassar College. Liz is a CFA charterholder
and a member of the Federation of Financial Analysts and the New York Society of Security Analysts.