ASCEND PARTNERS CORPORATE SERVICES PORTFOLIO MANAGEMENT HANDSON EXPERIENCE

ASCEND PARTNERS CORPORATE SERVICES & PORTFOLIO MANAGEMENT HANDS-ON EXPERIENCE FROM INDUSTRY March 12, 2021 CONFIDENTIAL © 1

PROFILE OF ASCEND PARTNERS CORPORATE SERVICES Survival Growth Value Portfolio Ascend Partners is a firm of seasoned senior business and consulting professionals that deliver Executes corporate reorganizations and supports continuity of enterprises throughout Europe, often in urgent, highimpact situations. Supports companies with growth ambitions with an array of appropriate tools and capabilities Provides financial-technical services such as value based management, valuations, liquidation of assets and support of family shareholders. Our approach is multidisciplinary and hands-on, covering both the identification and analysis of the business issues as well as the implementation and execution of well-honed programs. We believe that a successful program can only be achieved with clear and frequent communication with the stakeholders while acting together with the management of the company. Ascend is capable of achieving results internationally in both complex corporate structures and in SME’s. Our added value is highest in industrial companies with core processes which include: Sales & marketing Supply chain Manufacturing Product development Or which require financial – technical insights in markets, in value origination and familiarity with complex transactions. PORTFOLIO MANAGEMENT Team Ascend Partners also manages investment portfolio's as a service for third parties and takes its own investment initiatives supported by investors, using the capabilities of its consulting arm to create long term value for all parties March 12, 2021 CONFIDENTIAL © 2

CORPORATE SERVICES Survival Growth Value Ascend Partners is a firm of seasoned senior business and consulting professionals that Executes corporate reorganizations and supports continuity of enterprises throughout Europe, often in urgent, highimpact situations. Supports companies with growth ambitions with an array of appropriate tools and capabilities Provides services of a more financial-technical nature such as value based management, valuations, liquidation of assets and support of family shareholders. Our approach is multidisciplinary and hands-on, covering both the identification and analysis of the business issues as well as the implementation and execution of well-honed programs. We believe that a successful program can only be achieved with clear and frequent communication with the stakeholders while acting together with the management of the company. Ascend is capable of achieving results internationally in both complex corporate structures and in SME’s. Our added value is highest in industrial companies with core processes which include: Sales & marketing Supply chain Manufacturing Product development Or which require financial – technical insights in markets, in value origination and familiarity with complex transactions. Home March 12, 2021 CONFIDENTIAL © 3

SURVIVAL Survival Services Cash management and liquidity generation Restructuring advisory Interim management Business Plan & Contingency testing Lender negotiations & deal restructuring Asset rationalization Reorganization under continuity legislation It is clear that the present business environment will require financial and operational restructuring in the short to medium term. The lack of commercial credit availability necessitates companies to generate their own liquidity. In such a setting companies must address and resolve their weaknesses and reduce their business risks. This is not only essential for survival but also to enable them to take advantage of the inevitable opportunities that will arise in this economic environment. Our approach is multidisciplinary and hands-on, covering both the identification and analysis of the business issues as well as the implementation and execution of wellhoned reorganization and restructuring programs. We believe that a successful program can only be achieved with clear and frequent communication with the stakeholders while acting together with the management of the company. Ascend is capable of achieving results internationally in both complex corporate structures and in SME’s. Home March 12, 2021 CONFIDENTIAL © 4

CASH AND LIQUIDITY MANAGEMENT GENERATION The life blood of a company is its liquidity, especially if the company is distressed. This liquidity is required to ensure that it can meet its payment obligations to its suppliers and lenders. The solvency of a company directly impacts the confidence level that the stakeholders have and is therefore of utmost importance for a company’s well being and its ability to operate and develop. Survival Services Cash management and liquidity generation Restructuring advisory Interim management Sufficient liquidity assures that a company has time to weigh options to restructure its business when required and to adapt to the changing economic environment. Lack of liquidity reduces these options and might lead to sale or liquidation of the company. It is therefore crucial that troubled businesses launch internal actions to alleviate the liquidity shortage at the first signs of distress. Such actions include working capital management, cost reductions and prioritized investment behavior. Such actions will generate the liquidity to allow for operational changes and even leave time to explore mutually agreed solutions with creditors, if so required. Business Plan & Contingency testing In theses distressed situations it is essential to obtain a quick understanding of the cash flows, its sources and its applications. This will allow for an effective cash management to put the business back on track towards growth and prosperity. Lender negotiations & deal restructuring Reporting systems that adequately reflect the current and forecasted cash positions are critical to manage the company, not only to instill confidence with its bankers but also to ensure that the correct operational actions are deployed. Asset rationalization Reorganization under continuity legislation Ascend Partners uses proven methodologies which have originated in the field together with a large doses of common sense to ensure the a results focused cash culture in the organization. Our process focuses on increasing the pace of collections and containing disbursements. These principles have been successfully applied on numerous occasions and across many industries. Home March 12, 2021 CONFIDENTIAL © 5

RESTRUCTURING ADVISORY Drastic change has become an integral part of corporate life and is only accelerated by the current economic environment. Survival Services Cash management and liquidity generation Over time we are building a solid reputation for achieving consensus, managing expectations, driving the process and delivering results. Restructuring advisory Interim management Business Plan & Contingency testing Lender negotiations & deal restructuring Asset rationalization Reorganization under continuity legislation Home Our senior professionals have been through such waves of changes time and again. They have the state of mind, experience and the leadership necessary to act quickly and accurately when a turnaround needs to be achieved to ensure the survival of a company. They surely do know where to start looking for solutions to stop the bleeding when it really matters. We use flexible business modeling which allow to built business plans that allow for contingency testing, “what if”. These allow us to bring strong cases to stakeholders such as investors an bankers. We deviate the continuous flow of information requests away from management to allow them to concentrate on the daily operations. They then need only to be involved when it is really necessary. In our role of financial advisors we take care of the cash management and liquidity generation, negotiate with lenders and investors and restructure existing debt arrangements, assuming the role of Chief Restructuring Officer. In our role of operational advisors, we stabilize the company operationally, adapt inventory to current requirements and stop the bleeding. We restructure operations (production, sales & marketing, human resources, etc) to adapt them to the critical circumstances of the moment without however loosing the longer term interest and vision of the company from our sight. March 12, 2021 CONFIDENTIAL © 6

INTERIM MANAGEMENT Ascend Partners has execution & results driven teams, usually working side by side with management. We are however prepared & capable to go one step further, assuming interim management roles when required Survival Services Cash management and liquidity generation Restructuring advisory A company that loses a key manager in a distressed situation quickly becomes like a ship in a storm without a captain. Ascend Partners is therefore capable to provide experienced managers at C- level at short notice Our professionals are familiar with such situations and are able to quickly analyze and assess the situation. They will react without delay to establish priorities and communicate with personnel to support the morale provide guidance as to the course of action and what is expected from them. Interim management Business Plan & Contingency testing Lender negotiations & deal restructuring Our extensive network comprises senior professionals all over Europe who have served in many critical situations in positions including CEO, COO, CFO and CIO. Asset rationalization Reorganization under continuity legislation Home March 12, 2021 CONFIDENTIAL © 7

BUSINESS PLAN & CONTINGENCY TESTING In uncertain times, the building of a business plan which allows for flexible modeling is essential to get a grip on possible outcomes. Parameters, assumptions and sensitivities are prone to rapid change as the distressed world evolves Survival Services Cash management and liquidity generation Restructuring advisory Interim management Business Plan & Contingency testing Lender negotiations & deal restructuring Asset rationalization Reorganization under continuity legislation Home The business model that we develop for our clients will meet these flexibility requirements. The resulting business plan will be well substantiated and is therefore a powerful negotiation tool for achieving the financing goals. It will also take into account the criteria that credit institutions generally use in their considerations. The flexible modeling will allow to develop multiple scenario business plans to get a grip on miscellaneous “what if” scenario’s. This will provide necessary guidance at a time that decisions need to be taken quickly and with little room for errors. Resulting contingency testing will bring in evidence the outcome of different scenario’s and their degrees of risk. Because of its compelling concept, it will a convincing instrument to communicate the business case to the stakeholders and to the lenders in the first place. It is also a reflection of the intimate knowledge and understanding by management of the key drivers of their business and the way these react to external and internal events. This allows them to keep a close control over the management processes In the event that a reorganization under continuity legislation becomes a reality, the available documentation under the business plan, tested for contingencies can serve as a basis for a faster, more efficient and successful reorganization process. March 12, 2021 CONFIDENTIAL © 8

LENDER NEGOTIATIONS & DEAL RESTRUCTURING Survival Services Cash management and liquidity generation Armed with our flexible business modeling to prepare business plans which allow for extensive contingency testing, we can approach lenders, but also investors and other stakeholders with strong, well supported business cases. They will provide deep insights in the key drivers of the business and let them understand how changes will these impact the financial position of the company. Essential and critical operating tool is of course the running cash forecast, both for management to establish what actions are possible and as a barometer for lenders. Restructuring advisory Interim management Business Plan & Contingency testing Lender negotiations & deal restructuring Asset rationalization Reorganization under continuity legislation Home March 12, 2021 CONFIDENTIAL © 9

ASSET RATIONALIZATION Our in depth review of the company’ assets, other than the working capital elements evaluated during our cash management review, will enable us to identify liquidity generating opportunities, including amongst others Survival Services Ø divestment of specific business units Ø outsourcing potential Ø product portfolio clean-up Ø sale & leaseback opportunities Ø divestment of non core subsidiaries Ø sale of unused registered intellectual property Ø sale of non operating assets ü unused equipment & machinery ü unused buildings Ø sale of non core investments Ø etc Cash management and liquidity generation Restructuring advisory Interim management Business Plan & Contingency testing Lender negotiations & deal restructuring Asset rationalization Reorganization under continuity legislation Home Recognizing these assets in an effective and timely manner can significantly assist in reaching the overall restructuring targets of the company. March 12, 2021 CONFIDENTIAL © 10

REORGANIZATION UNDER CONTINUITY LEGISLATION Services Bankruptcy law in several European countries is evolving from legislation were focusing on protection of the rights of the creditors to new legal models that allow companies a “fresh start”, such as e. g. in Belgium in 2009. These legislations have a clear aim to provide the tools for the survival of companies, thus serving the interests of most stakeholders. We support clients to navigate the reorganization process successfully and emerge as financially stable companies positioned for future growth. Cash management and liquidity generation We assist the company to evaluate available options as part of the pre-filing strategy and provide guidance and support post-filing up to emergence. Restructuring advisory With most of our professionals having a background in both industry and consulting, we are very conscious that management should be fully focused on the daily management of the business to avoid an accelerated deterioration of an already unstable situation. We support them by taking up an overall coordinating role in the process and with all the stakeholders. Survival Interim management Business Plan & Contingency testing Our services offering covers all necessary aspects of a reorganization, including: Lender negotiations & deal restructuring Asset rationalization Reorganization under continuity legislation Home March 12, 2021 Ø Ø Ø Ø Cash management and liquidity generation Actions to stop losses and stabilize operations Development of a realistic restructuring plan, likely to fetch court approval Negotiations with investors and lenders on future financing execution of M&A transactions Negotiating with key stakeholders such as suppliers, personnel and lenders Coordination of execution of court orders Execution planning and monitoring CONFIDENTIAL © 11

GROWTH “Qui n’avance pas, recule” Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services This anonymous French saying is so very true. A company can get into heavy weather as a result of economic circumstances. However as soon as these external factors subside, the only way is up. Or it becomes the “chronicle of an announced death”, maybe over a very long time Ascend Partners are builders, we just love to sit down with our clients and help them think about how their company can grow, by choosing strategic development paths, taking into account evolving economic realities, It could be by improving their production planning, organizing production to meet customer requirements in the most efficient way for both parties, optimize the supply chain, find better ways to approach the market. We are only happy when you feel this sense of urgency living among the clients people, with motivation running high as they are part of an exciting adventure called “GROWTH”. And we do better than just sitting down with them, we fight with them and next to them to make the chosen projects work. And this could also include calling on our network to find the financing that might be required to achieve the future Home March 12, 2021 CONFIDENTIAL © 12

BUSINESS FRAMEWORK DEVELOPMENT Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services Determine definitions of Ø Values ü Physical ü Organizational ü Psychological Ø Mission statement Ø Strategy Ø Policy Ø Processes and procedures Ø Functional responsible manuals Ø Other documentation ü Specifications ü Instructions Ø Responsibility allocation Ø Documentation review Home March 12, 2021 CONFIDENTIAL © 13

STRATEGIC PLANNING & DEPLOYMENT Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services In this process several elements need to be brought into relationship to one another to finally distill a strategic direction for a company. These elements are; External social and economic realities Ø Globally Ø Regionally Market development and trends Company parameters Ø Values and culture which are the basis of success of the company (as mentioned in the Business Framework section above) Ø Shareholder requirements Ø Financial resources Ø Human resources Ø Other stake holders Financial performance per “product market combination” of the company Home March 12, 2021 CONFIDENTIAL © 14

STRATEGIC PLANNING & DEPLOYMENT External factors that influence the company Ø Opportunities Ø Threats Internal factors that influence the company Ø Strengths Ø Weaknesses Once all these elements are mapped they form the basis and the departure point for the second step in the process, which is to develop a strategy. The prerequisites of the participants in this second step are; Open mindedness Out of the box thinking Entrepreneurship Mutual respect for one another and ones views The participants in this process should be the CEO and the top management of company as well as Ascend Partners. This Group should not be too large because otherwise real discussion and brainstorming is not possible. In our experience this group should not be larger than 6 people. One prerequisite is that the group of people is intimately aware of the above and has detailed knowledge about all the facets of the business. The development of a strategy is most likely an iterative process to ensure that it is an achievable plan with sufficient ambition. Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services Home March 12, 2021 CONFIDENTIAL © 15

REVENUE GROWTH Sales effectiveness Channel optimization Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services Customer service optimization Product/brand management Marketing & advertising effectiveness Product development and innovation Global/geographic expansion Home March 12, 2021 CONFIDENTIAL © 16

COST MANAGEMENT SG&A efficiency and organization design Supply chain management Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services Logistics and distribution Sourcing/purchasing optimization Manufacturing footprint optimization Lean manufacturing Technical cost reduction Product costing Production planning and scheduling Home March 12, 2021 CONFIDENTIAL © 17

WORKING CAPITAL MANAGEMENT Cash management Accounts receivable/payable Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services Inventory management Home March 12, 2021 CONFIDENTIAL © 18

TRANSACTION SERVICES Market research Target identification Growth Services Business framework development 
Strategic planning and deployment

Revenue growth

Cost management

Working capital management

Transaction services Pre acquisition negotiations Valuation Acquisition due diligence Acquisition negotiations Post merger integration Divestiture Home March 12, 2021 CONFIDENTIAL © 19

VALUE Services Ascend Partners aims to make VALUE understandable for its clients, explain the logic behind the formulas and approaches, point out the drivers of value. Indeed value remains wrapped in a veil of mystic for many in view of its technicality. This enables our clientele to make better decisions when weighing strategic options in an acquisition situation, in the course of a reorganisation, in an organic growth program or any other circumstances. Ascend Partners has carried out many valuation assignments for all kinds of purposes and all kind of clients. Also as a liquidator, we are well placed to optimize the realization value of assets: we know what value is and we have our antennas in the market to identify interested parties. We also have a long experience with family held companies, with one of our partners having “lived” one for over 20 years as third generation family manager of a billion € turnover company. We know how families think, react, decide and what the hurdles and shortcomings are, where things go wrong over the changing generations. As such we have valuable advice to offer in a very discreet manner covering many aspects of this peculiar environment. Home In view of our very broad business base, Ascend Partners also accepts international board member mandates March 12, 2021 CONFIDENTIAL © 20

VALUE SERVICES OFFERED Value based management VALUE Valuation services Ø Corporate valuations (Fair market value) Services Ø Valuation of assets (tangibles & intangibles) Ø Fairness & solvency opinions Ø IP & Brand Valuation Ø Valuation in special cases ü Bankruptcy/ work out ü M&A activities (buy & sell side) Liquidation of companies and assets Advisory for shareholders of family held businesses International Board memberships Home March 12, 2021 CONFIDENTIAL © 21

PORTFOLIO MANAGEMENT Portfolio Home Management of existing investment portfolio's of companies as a service to investors Investment initiatives by Ascend Partners, supported by investors Ø Invests in European mid cap opportunities in companies ü with industrial activities ü a special focus on the automotive sector Ø Taking advantage of opportunities under current market circumstances Ø Aim for management control Differentiator is a strong focus on industrial excellence & hands-on investment management Ø Creation of value through (re)structuring, operational & financial excellence (using our consulting arm's expertise) Ø Implementation of buy & build strategies based on a deep and intimate sector knowledge and network March 12, 2021 CONFIDENTIAL © 22

TEAM Ascend Partners Ø Founding/managing partners Team Jan Goesaert ü Jan Goesaert Karel Bos ü Karel Bos Jan Smits Ø Team members Patrick Van Hoey ü Jan Smits Paul Hiel ü Patrick Van Hoey Ø Ascend Partners has access to collaborative and multi disciplinary networks of senior professionals in main European countries Ø In specialized domains, such as country specific restructuring legislation and human resources and particular technical matters, Ascend is partnering with trusted local firms Home March 12, 2021 CONFIDENTIAL © 23

FOUNDING / MANAGING PARTNER Team Jan Goesaert Karel Bos Jan Smits Patrick Van Hoey Paul Hiel Jan Goesaert Ø Founder and managing partner Experience Strategy and business development Ø M&A transactions (buy & sell side – corporate & family) Ø Post merger integration Ø Corporate finance Ø Private equity fund management Ø Complex projects management (Agfaphoto insolvency) Positions Ø Senior VP strategy & business development with agfa healthcare group, member of executive committee Ø VV corporate development a. Afa Gevaert group Ø Managing partner Ernst & young corporate finance Ø Senior investment banker (Puilaetco, now KBC group) Ø Executive director private equity with a family held fund Ø Financial auditor with Coopers & Lybrand (now PWC) Ø Board memberships in Belgium and abroad Studies Ø Applied economic sciences, business administration Ø Several international management training courses Home March 12, 2021 CONFIDENTIAL © 24

FOUNDING / MANAGING PARTNER Team Jan Goesaert Karel Bos Jan Smits Patrick Van Hoey Paul Hiel Karel Bos Ø Co founder managing partner Experience Ø In depth automotive industry knowledge in OEM and IAM Ø Mgt complex processes in highly competitive environments Ø Strategy development & alignment across the group Ø Business development, acquisitions, mergers, joint ventures. Ø Hands on experience in achieving operational excellence Ø First hand implementation sophisticated operational tools Ø Plant management, green field and brown field plant set up Positions Ø CEO Bosal group Ø Group operations director Bosal group Ø President Bosal North America Ø Bosal group director logistics buying and scheduling Ø Plant manager Bosal Nederland Ø Financial manager Bosal USA Ø Director industry associations (a. o. Clepa and RAI) Studies Ø Masters of science in management Ø Applied economic sciences, business administration Ø Several international management training courses Home March 12, 2021 CONFIDENTIAL © 25

CONSULTANT Team Jan Goesaert Karel Bos Jan Smits Patrick Van Hoey Paul Hiel Jan Smits Ø Consultant Experience Ø Financial management, accounting and taxes Ø Corporate finance (CFO in two IPO's on Euronext and AIM)Merger & acquisitions Ø Post merger integration Ø Green field investments Positions Ø CFO of Punch Powertrain Nanjing Ø CFO of Punch Graphix Ltd Ø CFO of Punch International Ø Internal Auditor (Massive International) Ø Financial auditor with Coopers & Lybrand (now PWC) Ø Board memberships in Belgium and abroad Studies Ø Commercial engineer Home March 12, 2021 CONFIDENTIAL © 26

CONSULTANT Team Jan Goesaert Karel Bos Jan Smits Patrick Van Hoey Paul Hiel Patrick Van Hoey Ø Consultant Experience Ø Cross-industry commercial management experience in B-2 -B environments. Ø Flexibility in working for multinational corporations (General Electric, Texaco, KLM) as with start-up companies. Ø Innovative commercial concepts and new business model creation. Ø Industrial marketing and market penetration strategies. Ø Expertise in positioning products and services. Ø Sales process optimization. Ø Sales force efficiency programs. Ø Distribution channel analysis. Ø Dealing with rapidly changing markets and complex issues. Positions Ø Sales Manager at the European headquarters of a division of GE Capital. Ø Sales Manager Belux for KLM Royal Dutch Airlines. Ø Different management positions – with international scope – for various companies. Ø Managing partner of consulting company. Studies Ø Applied economic sciences. Ø Dynamic marketing. Ø Several international management training courses. Home March 12, 2021 CONFIDENTIAL © 27

CONSULTANT Team Jan Goesaert Karel Bos Jan Smits Patrick Van Hoey Paul Hiel Ø Consultant Experience Ø In depth automotive industry knowledge in OEM and IAM Ø Mgt complex processes in highly competitive environments Ø Program management of complex OEM programs Ø Product costing of complex OEM programs. Ø Hands on experience in continuous improvement Ø Implementations of production lines in both green field and brown field plants Ø Plant management, both expanding and downsizing in international environment. Positions Ø Managing director Bosal Benelux Ø Managing Director Bosal Czech Republic Ø Interim Managing director Bosal Industries Tredegar Bosal Ø Group Manufacturing Engineering Manager Ø Different positions in manufacturing and industrial engineering in Bosal and DAF Trucks Studies Ø Agricultural University (Agricultural Engineering) Ø Several international management training courses Ø Continuous improvement courses (Kaizen, lean manufacturing) Home March 12, 2021 CONFIDENTIAL © 28

CONTACT DATA JAN GOESAERT Ø +32475774303 Ø jan. goesaert@ascendpartners. eu KAREL BOS Ø +32475808018 Ø karel. bos@ascendpartners. eu March 12, 2021 CONFIDENTIAL © 29