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STIFEL
<br />Appendix F: Proposer Questionnaire
<br />Within the past 36 months, has your firm and/or any of its principals been the subject of any investigation relating to the municipal securities industry
<br />by the SEC, FINRA, NYSE, or any other State or Federal organization that oversees, regulates, licenses or is otherwise responsible for the municipal
<br />securities industry"
<br />Glen I Project Lawsuit. A putative class action lawsuit was filed in late 2019 against Stifel, Nicolaus & Company,
<br />Incorporated ("Stifel") in Missouri State Court, Case No. 1916-CV29250, by several institutional investors (the "Ivy Fund
<br />Lawsuit"). The plaintiffs in the Ivy Fund Lawsuit allege there were inadequate disclosures relating to the sale of municipal
<br />bonds they purchased from Stifel, which were issued by the Greene County Development Authority for the construction
<br />of a senior housing community in a luxury development in Georgia (known as the Glen I Project). Other bondholders in
<br />the same issuance also filed two additional lawsuits against our Company in late 2019 asserting nearly identical allegations
<br />and claims: a second Missouri lawsuit, Hoffman et al. v. Stifel, Case No. 1916-CV32191, and one lawsuit now pending in
<br />Georgia state court, Principal Street Partners f/k/a Green Square Boston, LLC, d/b/a Green Square Capital Advisors on
<br />behalf of Advantage Advisers Tax Exempt High Income Fund I and Advantage Advisers Tax Exempt High Income Fund 11 v.
<br />Stifel, Case No. 2019CV328671. (The Georgia lawsuit was initially filed in federal court and also included additional claims
<br />and defendants, which were subsequently dismissed voluntarily by the plaintiffs). Stifel believes these lawsuits have no
<br />merit and is vigorously defending against the claims.
<br />Troy Bank Lawsuit Summary. A putative class action lawsuit was filed on or about February 28, 2020 against Stifel in
<br />Missouri State Court, Case No. 20SL CC01077, by Troy Bank and Trust Company, individually and on behalf of a class of
<br />those similarly situated relating to a municipal bond issuance in the City of Chicago (the "Ernst" issuance). The plaintiff
<br />alleges there were inadequate disclosures relating to the sale of municipal bonds in the Ernst issuance they purchased
<br />from Stitel, which were issued by the Illinois Finance Authority to acquire affordable housing units in Chicago. The
<br />plaintiff's claims primarily relate to the alleged failure to identify or disclose housing code violations in prior issuances
<br />involving the same non-profit, Better Housing Foundation_ The Company believes the lawsuit has no merit and is
<br />vigorously defending against the claims.
<br />Karegnondi Water Authority. Stifel has been named as a defendant in a United States District Court, Eastern District of
<br />Michigan, Southern Division, litigation in connection with the underwriting of bonds to finance the Karegnondi Water
<br />Authority ("KWA") pipeline, a new water pipeline intended to serve Flint, Michigan and surrounding areas. The lawsuit is
<br />filed against JP Morgan Chase, as senior manager, and Stifel and Wells Fargo, as co -managers, who underwrote the bonds
<br />for the KWA in 2014. The complaint alleges novel claims against the underwriter defendants, including conspiracy and
<br />professional negligence. We intend to defend vigorously against the allegations.
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<br />within the past 3b months, has your firm and/or any of its principals bccn invulvcd in any litigation, arbitration, disciplinary or other actiuns arising
<br />from the flrm's underwriting, management or handling of municipal securities?
<br />Stifel, Nicolaus & Cornpany, Incorporated ("Stifel") is an investment banking and securities firm providing investment
<br />services to individuals and institutional clients, investment banking, and related services including the day-to-day purchase
<br />and sale of securities. Stifel is a wholly -owned subsidiary of Stifel Financial Corp. (SF). In the normal course of business, at
<br />any given time, Stifel is subject to a number of claims and disputes, as well as regulatory matters including examinations,
<br />reviews, investigations, or formal actions. All required disclosures of material litigation and regulatory matters are rnade
<br />in Stifel Financial Corp.'s public filings with the SEC and other regulatory authorities, such as its Form 10-K and the most
<br />recent Form 10-Qfiled with the U.S. Securities and Exchange Commission (the "SEC"), 8-K's, and in other regulatory filings,
<br />such as Form B/D, as amended. You are further referred to the FINRA website, where you can access Broker Check reports
<br />for Stifel, Nicolaus & Company, Incorporated which may be located with the following hyperlink:
<br />http!//brokercheck.finra.org/Firm/Summary/793. This contains the regulatory reports on Stifel's disciplinary disclosures.
<br />City Council 23 - 233 5/18/2021
<br />Cily of Santa Ana I Proposal to Provide Underwriting Services Appendix F
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