Deliverables & Tasks

AI Policy Proposal

Plant Level Financials Pilot - Banner CV

Valuation Updates

MGC Monitoring Fees + Expense Solution

Spark Co-Invest CIM - new version post comments

[John | Scot 1:1] Explore Middle East LP relationships via horse racing network contacts (Sheikh Mohammed, Sheikh Fahad Al Thani) for Fund IV pipeline

[John | Scot 1:1] Clarify Alicia Montemurle's office location and travel-to-Lexington policy

[John | Scot 1:1] Engage Bernard in Austria to assist Megatack with rotor machine sensor/controls issues

[John Sync] Schedule dedicated follow-up discussion on Ryan's long-term career path, partnership trajectory, and management company economics

[Weekly IC] Perform independent EBITDA analysis to stress-test sell-side QofE EBITDA figure

[Weekly IC] Communicate deal positioning (Fund III + co-investment) to co-investors who have been following up frequently

[Weekly IC] Assess refurb/service provider market as potential new customer segment for this equipment

[Weekly IC] Analyze link between customer backlog (e.g., Prolife booked 36 months) and equipment purchase cycle timing post-2028

[Weekly IC] Clarify LPA classification of Germany-headquartered business with Deckard and resolve North American vs. European investment designation

DDQ + CIM for Next Fundraise

[Placement Agent Update] Work with counsel to structure Cerberus loans off portfolio company balance sheet while maintaining downside protection for both Cerberus and MiddleGround

[Weekly CIM Review] Assess Project Eagle restructuring opportunity and determine whether to re-engage BMO

[Zoom Meeting] Collect four to five bids on Banner A&D sale

[Placement Agent Update] Add comparable PE firm fundraising data (last fund raised, current fundraising status) and family office investor data to dashboard

Performance Review System - Real Time Throughout Year

Complete capital structure solution with UCB

[John/Binoy Catch up] Provide Binoy with update on the Mr. Keur / Amsterdam platform deal progress

[John/Binoy Catch up] Follow up with Binoy on Project Sprinkle status and any other pending co-investment indications from his firm

[John/Binoy Catch up] Audit co-investment communication process and establish clear follow-through protocols so LPs receive updates on deal status regardless of outcome

[John/Binoy Catch up] Address the unfunded commitment discrepancy — explain how Fund Two LPA amendments increased Binoy's commitment from ~$7K to $900K+ and clarify future capital call plans

[Stemmer - Weekly Call] Explore TKH Group top-level engagement to address Allied Vision impasse

[Stemmer - Weekly Call] Finalize and sign new distribution agreement with LMI

[IT8 - Weekly Call] Evaluate Twin Industries acquisition from MiddleGround perspective as a multiple-expansion opportunity

[IT8 - Weekly Call] Re-initiate contact with Twin Industries to gauge willingness to sell and discuss acquisition structure including potential equity rollover

[Weekly CIM Review] Clean up staff section of deal tracker to include earlier-stage deals for pipeline and bandwidth review

[Weekly CIM Review] Review ESG notes from Madeline on Project Emerald (JEMCO) to confirm no flags

[GTLaw-MGC - Weekly Call] Coordinate with Shelby, Rob, and MiddleGround IT to issue platform-level instruction to Abby AI quarantining AEO documents and restricting access to attorneys only

Synovus debt-team relationship + fund-investor financing scorecard in DealCloud

[MPO Weekly Sync] Prepare strategic review supplemental materials for Steelcraft and Bratalco based on questions submitted by portfolio team

[MPO Weekly Sync] Have supervisors compile list of all projects owned by departing employees as part of severance/handoff process

[MPO Weekly Sync] Introduce two-tranche $20M deal structure to DMO credit committee

[MPO Weekly Sync] Get updated financial statement for Christen and her husband to support refinancing their $20M off MiddleGround

[MPO Weekly Sync] Meet with Blake to assess headspace on trust cleanup and potential additional $4M facility

[John | Dave Eubank | Liz] Explore interest-bearing savings account or CD strategy for idle cash

[John | Dave Eubank | Liz] Evaluate closing Truist accounts and consolidating deposits at Peoples Bank

[John | Dave Eubank | Liz] Have Dean Norton send the depreciation/tax report

[John | Dave Eubank | Liz] Call tax advisor after the meeting to discuss depreciation analysis and K-1 review

[John | Dave Eubank | Liz] Call Dean Norton to discuss tax strategy and equipment purchase options before December 31

[HIGH] Chris Speight — written inventory of tasks/systems Josh manages; licenses in-house (Rob & Cornelius lead)

MGC Realization Slides

[HIGH] Alexander van der Have — Georg: LOI execution status + what's outstanding to get it signed

[MED] Chris Speight — draft adjusted-GP-commit (funded-to-date, MGC takes remainder) language; NO buyout

[MED] Roland Veldhuijzen van Zanten — review Ford performance manufacturer (Nafaa) as RWB add-on; read on pursuing

[HIGH] DART team (David Walden) — DART carve-out: return steps + timeline to close (execute this month)

[HIGH] Chris Speight — pull together RWB AP plan + solution for HLC and RWB management fees

Follow Up on  Q3 leverage-test details + levers to impact the test  

IR Roles & Responsibilities

Ops Data Project (Banner)

Follow Up on Moonshot 3rd party debt - Inv/Ops Follow-up 

[HIGH] David Walden — Dalton handoff to Yuji Yokoi: plan + timeline

[HIGH] Christen Paras — get firm delivery date from Dennis on AMP/Megatech benchmarking (cost-analysis snapshot)

[HIGH] Tyler May — High-level 2027 projection for Attala / Cerberus call

[HIGH] Erica Richardson & Christen Paras — Get MegaTech, SteelCraft & AMP benchmarking data

[HIGH] Justin Steil & Scot Duncan — Get Starrett benchmarking data (overdue)

[HIGH] Tyler May & Ryan McComb — Get Attala benchmarking data (overdue)

[John | Scot 1:1] Communicate bonus structure change to staff as early as possible to allow financial planning

Assemble firm workflows by department — track responses to the 16 Oct request and chase non-responders

[MED] Chris Speight — set up time to walk Christen Paras through the Hark note (interest + structure)

[HIGH] Rob Fisher — send JS list of outstanding items requested from others (who owes / what / status)

[HIGH] Attala deal team — respond TODAY: owners + execution plan for JS directive (10/23)

[MED] Graham Sparks — Coordinate NDA for Project Tailwind (BDO) & route CIM to John

EU Profit Analysis

Investor Overview Deck - Proposed Org Chart

ABBI Automations (reviewed 10/28/2026, 8:37:32 AM PDT)

Cerberus credit-limit slide deck (restructuring benefit + more credit for 2027 plan)

[MED] Graham Sparks — execute NDA with LBBW/Vermilion for Project Barometer (solar-tracker components)

[HIGH] Attala/Banner expense paydown plan — $500K/wk ASI (post-Cerberus) + Banner $250K/wk (priority)

[HIGH] Ryan McComb — Send John the revised DART/Antares funds flow for final approval (overdue, promised Oct 27)

[HIGH] John — AM Castle: next move after declining Fifth Third's two structures

[HIGH] John — Respond to Chris Speight on ownership buyback once Dechert's LPA/purchase agreement review lands

[HIGH] Roland Veldhuijzen van Zanten — Draft Stemmer management email + circulate split agenda to internal deal team, copy John

[HIGH] Yuji Yokoi & Ryan McComb — Full press the AM Castle / Banner refinance; Fifth Third is out on liquidity

[HIGH] Chris Speight — Report back on Hark call: BMO facility $5m Jan 1 step-down, hold at $20m or lift to $25m

Speak with Tyler May Regarding CCL Lack of Attendance (MC Action Item)

Revamp MGC CIM for Fundraise

IR Team Strategy

Apeirin AI — Stand up new entity (determine incorporation jurisdiction & structure)

Co invest standard process

Follow Up on [HIGH] Prepare Cerberus presentation: SCC covenant miss + new CEO intro (reviewed 10/27/2026, 11:43:43 AM PDT) (reviewed 11/2/2026, 3:05:14 PM PST) 

[HIGH] Roland Veldhuijzen van Zanten — Remove Clifford Chance from MGC representation; appoint Dechert EU team as fund counsel

[HIGH] Yuji Yokoi — Argos and TKA bids due Wed Nov 4 (IOI process), confirm both land

[HIGH] Roland Veldhuijzen van Zanten — GEORG: land exclusivity after John's direct ask to Mark Georg

Signature Request: Dalton Interim President - Chris Risdon

MGC 2.0 – four changes to how we underwrite

[HIGH] Jeff Ficks / Taylor Hall — Open BMW wind-down discussion on ORLIK and bring back the readout

[HIGH] Tim Curley / Taylor Hall — ORLIK: is Kirchhoff BMW's preferred buyer, and did the accounts reconcile

[HIGH] Michelle Sells / Curt Mickey — Attala quoting model + 6 sales conversion answers

[MED] Joe Fields-Elswick — Reprice aviation at 450 hrs, justify commitment vs on-demand, source more providers

[MED] Scot Duncan — Build Sarasota coverage plan for Ryan's paternity leave, incl. leadership presence on site

[WEEKLY] Paul O'Brien — send John the PortCo C-suite recruiting status update (every Friday)

[HIGH] Anvita Panjugula — Complete ABBI CLI and v2 app rollout (Sovereign Mind off her list)