First Sponsor - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/28/20	Phillip	First Sponsor	1.28	1.56	Buy	RNAV (30% discount)
02/18/21	Phillip	First Sponsor	1.33	1.56	Buy	Sum of parts (20% discount)
04/29/21	Phillip	First Sponsor	1.39	1.55	Accumulate	Sum of parts (20% discount)
08/04/21	Phillip	First Sponsor	1.36	1.56	Accumulate	Sum of parts (20% discount)