PUBLIC FINANCE OFFICES: Albuquerque, NM Atlanta, GA Austin, TX Boca Raton, FL Boston, MA Charlotte, NC Cheyenne, WY Chicago, IL Dallas, TX Denver, CO Houston, TX Indianapolis, IN Kansas City, MO New Orleans, LA Pittsburgh, PA Sacramento, CA Salt Lake City, UT Sante Fe, NM Washington, D.C. Wichita, KS

INSTITUTIONAL SALES: Boston, MA Dallas, TX Denver, CO Kansas City, MO Philadelphia, PA

TRADING DESKS: Denver, CO Kansas City, MO

GEORGE K. BAUM & COMPANY HIGHLIGHTS: } Closed New Trusts & Conversions with Current Client Base } Closed Taxable & Tax-Exempt Transactions } Worked Closely with 8 Liquidity Banks, 6 Remarketing Agents & 1 Credit Enhancer } Worked with Both Premier Counsels in the Industry; Ashurst & Orrick } New Product Development

COMPREHENSIVE ADMINISTRATION SERVICES:} In-House Proprietary Database System} Custom Reporting} FTP Capabilities} Nightly Credit-Watch} Custom Web-Based Document Repository } Custom Cost/Rate Analytics as Per Client Request

TRUST ADMINISTRATION & TOB TEAM:

ED STASEN: } Day-To-Day Execution & Implementation of TOB Trust Administration Tasks } 18 Years of Industry Experience } Managed Merrill Lynch’s P-FLOATS Program from 2003 to 2009 } Risk Manager/Trader at Definitive Capital Management (Municipal Hedge Fund) } Product Development & Innovation—Different Financing Structures & Liquidity Entities

LIZ BARBER: } Manager of George K. Baum & Company’s Specialty Financial Products Desk } 15-Year Municipal Securities Veteran

JEREMIAH MILLER: } Underwritten More Than $3 Billion in Par Amount of Short Term Notes & Variable Rate Demand Bonds } Remarkets $600 Million in Par Amount of Variable Rate Demand Bonds Each Week

ALEC LEHRER: } 13-Year Veteran of the Municipal Securities & Derivatives Market } Successfully Acted as Bidding Agent or Advisor on More Than $2 Billion Notional of Derivatives Contracts

JAIME LATCHAM: } Joined the Specialty Financial Products Desk in June of 2016 } Provides support for the mortgage markets program, TOB Trust Administration Program and interest rate swap transactions

This report was prepared from data believed to be reliable but not guaranteed by us, without further verification or investigation and does not purport to be complete. It is not to be considered as an offer to sell or a solicitation of an offer to buy the securities of the entities covered by this report. Opinions expressed are subject to change without notice. George K. Baum & Company may act as a principal for its own account or as agent for another person, in connection with the sale or purchase of any security which is subject in this report. Contact George K. Baum & Company, Specialty Financial Products Desk, at www.gkbaum.com.

$2BTotal Amount in Bonds

Currently Under ManagementTAXABLE & TAX-EXEMPT

65+TOB Team Combined Experience

in Municipal FinanceYEARS OF EXPERIENCE

SPECIALTY FINANCIAL PRODUCTS DESK • TOB TRUST ADMINISTRATION