New York | New Jersey | Pennsylvania | California | China | friedmanllp.com

Your livelihood, empowered.

powerful

personal

Introduction to Friedman LLP

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We are honored that you are considering becoming part of the Friedman family and are thrilled to share information with you about the firm’s background, capabilities and philosophy.

Since our founding in 1924, Friedman LLP has grown into a regional leader with both deep technical expertise and an award-winning culture. Of course, we are running a business, but we never forget that our business is comprised of people. At Friedman, you will see this philosophy in action each and every day—from enduring client relationships that extend over generations … to continuously being honored as a “Best Place to Work”... to our active involvement in our local communities.

This approach extends to our merger philosophy. Although we are a growing, robust firm, our goal is not growth for growth’s sake. Our mergers are successful because we carefully consider both the business and the cultural fit.

We look forward to getting to know you and exploring the possibility of reaching new heights together.

With very best regards,

Message from the Co-Managing Partners

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Friedman Fast Facts

ESTABLISHED IN 1924

12 LOCATIONS THROUGHOUT NEW YORK, NEW JERSEY, PENNSYLVANIA, CALIFORNIA AND CHINA

2019 REVENUE MORE THAN $135 MILLION

APPROXIMATELY … 600 TOTAL PERSONNEL, 90 PARTNERS AND 250 CPAs

HIGHEST RATINGS FROM AICPA AND PCAOB QUALITY REVIEWS

GLOBAL PRESENCE AS AN INDEPENDENT MEMBER FIRM OF DFK INTERNATIONAL

CLIENTSPUBLIC, PRIVATELY-HELD, HIGH NET WORTH

SIZE RANGE: $5M –$1 BILLION

START-UPS TO MULTI-NATIONALS

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Rankings and Awards

Friedman is frequently recognized as a national and regional leader in the tax and accounting space and as a “Best Place to Work.” Here are some of our past awards and recognitions.

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Our Purpose Friedman is dedicated to empowering our clients to achieve critical financial goals that improve their

lives. We take our clients’ interests, their business, and our relationship personally—providing powerful expertise, hands-on attention, and continual care that help drive them forward.

Core Values

What Friedman Stands For

SOCIAL RESPONSIBILITY Giving of our time and resources to benefit our local communities

and build firm camaraderie

PeopleFIRST

INTEGRITY Keeping to the highest ethical standards fosters transparency,

trust and respect

RELATIONSHIPS Caring for our clients and our

employees with personal attention, enthusiasm and empathy

OPTIMISM Focusing on what can be

accomplished leads to greater results

COLLABORATION Practicing as a team rather

than a group of individuals for the benefit of our clients

WORK/LIFE FLEXIBILITY Balancing work and play breeds team continuity

and satisfaction

SELF-IMPROVEMENT Continually growing our expertise enables us to innovate and deliver cutting-edge solutions to clients

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Growth Highlights

Throughout Friedman LLP’s 90+ year history, we have strategically expanded our technical and geographic reach—continuously enhancing our ability to serve our clients’ diverse needs. Over the last 20 years, Friedman added 11 locations to its New York City headquarters and grew from a local firm to a regional powerhouse providing global resources.

1997: Addition of partners from Putterman, Rush & Shapiro

2016-2020: Integration of Philadelphia firm Shechtman Marks Devor PC. Launch of CyZen. Friedman moves its NYC Headquarters downtown and opens offices in Red Bank, NJ and Los Angeles, CA. Addition of Eastern Long Island firm Markowitz, Fenelon & Bank.

2012-2015: Friedman establishes a Women’s Development Network; ranks #1 nationally for work/life balance for the first time by Vault; celebrates its 90th anniversary, and appoints Co-Managing Partners Harriet Greenberg and Fred Berk.

2010-2011: Friedman experiences significant growth, adding partners from four firms: Josephs Levine & Company, Benefits 21, Tracey Heun Brennan & Company, and Saccomanno Valuation Group. Formation of Friedman’s Marlton, Toms River, Linwood, and Cape May locations and expansion of the firm’s Forensic, Litigation and Valuation Services Practice.

2005-2006: Launch of the firm’s China practice; featured among the top 50 accounting firms for the first time in Accounting Today’s Top 100 Firms.

2003-2004: With the integration of partners from two firms, Deutsch, Marin & Company and Ehrenkrantz Sterling & Company, two new offices formed in Long Island and East Hanover. Official name change to Friedman LLP.

2002: Expansion of the firm’s global reach, joining DFK International, an association of independent, full-service accounting and consulting firms with more than 400 offices in 90+ countries.

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Growth Chart

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$30m

$60m

$90m

$120m

$150m

‘16 ‘17 ‘18 2019‘15‘14‘13‘12‘11‘10‘09‘08‘07‘06‘05‘04‘03‘02‘012000

Revenue increased from approximately $13M in 2000 to $120M in 2018 – reflecting the firm’s successful growth. In 2019, Inside Public Accounting ranked Friedman among the top 10 fastest growing organic growth firms.

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Industries and Services

IndustriesΔ Architecture and Engineering

Δ Automotive

Δ Construction

Δ Digital Currency

Δ Entertainment and Gaming

Δ Financial Services

Δ Healthcare

Δ Hospitality

Δ Law Firms

Δ Life Sciences

Δ Manufacturing , Distribution & Retail

o Consumer Products

o Diamond and Jewelry

o Fashion

Δ Multimedia

Δ Not-for-profit

Δ Real Estate

o Affordable Housing

o Owners/Developers/Investors(multifamily, commercial, industrial)

o REITs

Δ Restaurants

Δ Technology

Services Δ Accounting, Audit and Assurance

Δ Asia/China Practice

∆ COVID-19 Recovery and Growth Consulting

Δ Cyber Security (CyZen)

Δ Economic & Statistical Consultants (ECO-STAT LLC)

Δ Forensic, Litigation, and Valuation Services

o Business Recovery

o Divorce and Matrimonial

o Economic Damage Analysis

o Forensic Accounting and Fraud Investigation

o Securities and Class Action

o Valuation

Δ Governance, Risk and Compliance

Δ International Services

Δ Outsourced Accounting

Δ Pension Administration (BENEFITS 21 LLC)

Δ Public Company

Δ Qualified Opportunity Zone Consulting

Δ Transaction Advisory

Δ Tax

o Corporate and Business

o Estate and Trust

o Family Office

o International

o Private Client

o State and Local

o Tax Controversy

o Transfer Pricing

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Tax Friedman’s renowned tax practice holds deep expertise across all specializations—corporate, estates and trusts, high net worth, international, state and local and tax controversy. Our partners participate in legislative and regulatory processes through leadership roles in the AICPA and other organizations. They are widely quoted in national and local press and publish regularly in our Tax Matters newsletter, Tax Alerts, and our specialized tax research studies.

Real Estate Our powerhouse real estate practice advises the Who’s Who of top real estate companies in the Northeast. It is one of the largest real estate practices in the country, with 150 dedicated professionals, and does business on a national and international level. Our partners and professionals are thought leaders who are quoted in the press, publish articles through our Property Matters newsletter and speak frequently throughout the region.

Forensic Accounting, Litigation Support and Valuation Services (FLVS) Group Friedman’s team of nearly 40 dedicated FLVS professionals is one of the largest teams among regional accounting firms nationwide. Specialties include Forensic and Fraud Investigations, Economic Damages, Matrimonial Disputes, Business Valuation and Class Action Securities. Eco-Stat LLC, an affiliate of Friedman LLP, helps plaintiff and defense attorneys calculate and demonstrate the true value of economic damage.

China Practice Our China Practice Group consistently ranks among the top U.S. accounting firms serving the China market; and Friedman is consistently ranked as one of the top U.S. accounting firms serving China-based SEC registrant companies by Audit Analytics. The partners and staff within our New York office possess the technical expertise, cultural knowledge and language skills necessary to successfully serve Chinese businesses of all sizes.

Governance, Risk and Compliance (GRC) Services Friedman’s dedicated GRC Practice gives boards, CEOs, CFOs and other top executives across a wide range of industries the confidence they need to meet their strategic, operative, reporting and compliance objectives. The GRC team is led by professionals who have lectured widely on enterprise risk management and corporate governance topics.

Digital Currency Friedman is at the forefront in providing accounting services to the emerging digital currency industry. Officially launching this niche practice in 2017, we audit leading players in the industry, and provide specialized tax consulting services, including international structuring.

Cyber Security Services—CyZen LLC The advisors of CyZen, a Friedman LLP-owned company, help clients make sense of cyber security and defend against attacks. Joining the Friedman family in 2017, the group delivers customized solutions through a multi-faceted suite of services, including assessment, testing, remediation and monitoring. We support a range of businesses within the public and private sectors.

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Practice Highlights

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Friedman LLP is an independent member of DFK International— a top 10 international association of independent accounting firms and business advisers.

DFK was established more than 50 years ago. The association has more than 200 member firms and 400 member offices. It operates in 90+ countries.

DFK/USA offers valuable resources in practice management, technical expertise and leadership development.

DFK International

219Member Firms

439Member Offices

95Countries

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Friedman’s industry-focused methodology offers clients concentrated areas of expertise and keen knowledge of the economic environment. Our clients benefit from hands-on contact with partners and a customized approach that fosters innovation, flexibility and timely decision making. Clients have the advantage of working with a mid-size accounting firm that combines the staff and resources of a large firm with a philosophy of personal responsibility for our clients.

Why Friedman?

PARTNER TOUCH

Hands-on involvement throughout the engagement

INDUSTRY EXPERTISE

We understand your business

PEOPLE Staff continuity with technical expertise

COMMUNICATION Timely and effective

APPROACH Customized for

each client

GLOBAL Access to

our worldwide network through DFK International

Your livelihood, empowered.

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Merger Reflections

“Joining Friedman was an eye-opening experience. I’ve been able to grow my practice, and they’ve taught me

there is something called work-life balance.”

Michael Saccomanno, CPA, ABV, CFF, CVA, CDFAFormer Firm: Saccomanno Valuation Group

“Since the merger with Friedman, our business has doubled. It’s a magical thing.”

Carl H. Bagell, CPAFormer Firm: Bagell, Josephs, Levine & Co LLC

“The transition was great, the firm is awesome. Today, I have a team behind me and a culture

that makes me want to stay.”

Denise McKnight, CPAFormer Firm: Shechtman Marks Devor PC

“When we met Friedman, they were completely transparent. What you saw is what you got.”

Glenn M. Josephs, CPAFormer Firm: Bagell, Josephs, Levine & Co LLC

“With Friedman, something clicked that was different from other firms we met with. It’s very gratifying that

what was promised came to fruition.”

Charles (Chuck) M. Shechtman, CPAFormer Firm: Shechtman Marks Devor PC

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Friedman has been named a “Best Place to Work” both nationally and regionally. Vault’s 2020 ranking placed Friedman in the top 10 firms nationally and #1 in six quality of life categories. Here are some of the reasons why:

Δ Summer Fridays, a highly popular program in which we work extra hours Monday to Thursday and close the office on Fridays between Memorial Day and Labor Day.

Δ Alternative Work Arrangement Program that enables employees to craft work hours best suited to their needs.

Δ Dress for Your Day flexible dress code allows employees to tailor their wardrobes to work agendas and client cultures.

Δ Wellness Programs, including on-site flu shots, partial gym reimbursement, massage days and an annual “Fitbit” walking competition.

Δ Volunteer Events to serve our local communities.

Δ Social Events, including team day and an annual after-tax season party.

Δ Sports Leagues, including basketball, baseball, and kickball.

High Quality of Life

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Friedman offers a host of cutting-edge educational and development programs.

Professional Development

IN-HOUSE Professional Development Training

offering more than 100 courses annually.

MENTORSHIP PROGRAM in which senior professionals

coach junior staff.

FRIEDMAN UNIVERSITY that teaches business

development and communication

WOMEN’S DEVELOPMENT NETWORK o f f e r s a v a r i e t y o f p r o g r a m s

t o

help women

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Our innovative marketing team delivers a powerful array of resources to brand and grow the firm. They include:

Robust Marketing Resources

10 external publications to an audience of almost 20,000 prospects, clients,

and referral sources

Proprietary market research studies promoting the firm’s tax practice to an audience of more

than 2 million business leaders

Press coverage in more than 100 outlets annually

Website with approximately 150,000 visitors annually.

More than 50 signature events, conferences and sponsorships annually

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Firm Services

Donald Logan Chief Information Officer

Lindsay Gaal Chief HR Officer

Jill Jacobs Chief Marketing Officer

Claudette Spano Chief Financial Officer

Strong teams support partners and staff in the vital areas of technology, human resources, marketing and finance.

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Friedman’s core values are exemplified through our commitment to serve our local communities. As a team, we participate in volunteer events, help raise awareness by fundraising with local organizations and contribute with our corporate giving program.

Friedman Gives Back

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Leadership

Co-Managing Partners

Fred Berk Harriet Greenberg

Management Committee

Kimberly DulaRichard Hoffman Michael Sacco

Carl Bagell Fred Berk Joseph Crivelli Harriet Greenberg

Friedman has leaders at the national, local and practice group levels.

Christopher Smith

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Leadership

Practice Leaders

Tom CorrieState & Local Tax

Ryan DudleyInternational Tax

Marc EidelbergAutomotive, Financial Services

Fred BerkReal Estate

Phil BottariLaw Firms, Media, Entertainment & Gaming

Bob CharronPrivate Client,Tax

Michael CohenAccounting, Auditing & Assurance

Robert GrahamDigital Currency

Harriet GreenbergAccounting, Auditing & Assurance; Manufacturing, Distribution & Retail; Consumer Products; Fashion

Michael GreenwaldCorporate & Business Tax

Richard HoffmanTax

Steve BokiessQualified Opportunity Zone Consulting

George FanourakisHealthcare

Joseph Crivelli Affordable Housing Hospitality

Jo Annan FellonFamily Office

Brandon BakerEstate & Trust

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Leadership

Practice Leaders

Barry Marin Architecture & Engineering

Amish MehtaNot-for-profit

David ShusterTax Controversy

Christopher SmithPublic Company, Technology & Telecommunications

Michael SoudryEco-Stat LLC

Susanne Spinell-ShusterOutsourced Accounting

Eric TunisDiamond & Jewelry

David WaddingtonPension Administration (“Benefits 21”)

Eddie WongAsia/China Practice

Harry SteinmetzMergers & Acquisitions,Transaction Advisory

Barry SziklayForensic, Litigation & Valuation Services (FLVS)

Jason Tang Asia/China Practice

Neil LevinePublic Company

Michael SaccoManufacturing, Distribution & Retail; Consumer Products; Fashion

Jacob LehmannCyber Security (CyZen LLC)

Kevin HyamsGovernance, Risk & Compliance

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LocationsFriedman has 12 locations throughout NY, NJ, PA, CA and China.

We plan to expand up and down the East Coast.

PA

NY

NJ

Beijing

Shanghai

CA

PA

NY

NJ

Beijing

Shanghai

CA

Beijing

Shanghai

TODAY

NEW YORK Manhattan (HQ) Uniondale Bridgehampton Riverhead

NEW JERSEY East Hanover Marlton Linwood Red Bank

PENNSYLVANIA Philadelphia

CALIFORNIA Los Angeles

CHINA Beijing Shanghai

TOMORROW

MASSACHUSETTS Boston

RHODE ISLAND Providence

DISTRICT OF COLUMBIA Washington, D.C.

MARYLAND Baltimore

NORTH CAROLINA Charlotte

GEORGIA Atlanta

FLORIDA Miami West Palm Beach Broward County Palm Beach County

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Thank you from all of us.

New York | New Jersey | Pennsylvania | California | China | friedmanllp.com

Your livelihood, empowered.

©2019 Friedman LLP. All rights reserved.