First Sponsor - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/04/21	Phillip	First Sponsor	1.36	1.56	Accumulate	Sum of parts (20% discount)
09/21/21	Phillip	First Sponsor	1.36	1.65	Buy	RNAV (30% discount)
02/25/22	Phillip	First Sponsor	1.35	1.39	Hold	Sum of parts
08/05/22	Phillip	First Sponsor	1.27	1.39	Accumulate	Sum of parts