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owner's representative, in $100 million worth of capital projects including building renovation, course <br />renovation, complete course and facility construction, cart path construction, bunker, tee, green <br />construction and renovation, and irrigation system replacement. <br />• Budgeting — We start every budget as a blank page — zero base — using historical data only as a reference <br />point. Line -item operational expenses are generated as a result of agreed upon goals for the property and <br />reflective of anticipated revenue streams. This methodology can reveal savings compared with prior years <br />as opposed to simply adjusting prior year expenses. Our budgets are linked to and driven by Annual <br />Operating Plans. <br />• Financial and Budgetary Reporting and Analysis — By accessing the resources of CourseCo's centralized <br />financial reporting systems, we can accurately and timely gather, report, and analyze revenue and expense <br />data. CourseCo reports to numerous public agencies for operations and capital projects and is accustomed <br />to accommodating a range of public reporting requirements and administrator preferences. <br />• Operating Plan Development— Development and implementation of an Annual Operating Plan that <br />includes an operating budget and marketing plan for the pro shop and golf service operations, food and <br />beverage operations, a facility maintenance program, as well as a capital expenditure plan, is standard <br />practice at all CourseCo facilities. <br />• Human Resource Management — CourseCo ensures compliance with Department of Industrial Relations <br />and Department of Labor regulations including wage and hour laws, workers compensation insurance <br />requirements, drug free workplace initiatives, equal opportunity employment, enforcement of a <br />progressive discipline policy and unlawful harassment policies. In addition, CourseCo provides a variety of <br />benefits for full time regular employees including paid vacation leave, holiday pay, an optional health plan, <br />flexible spending accounts, and a 401(k) plan. <br />• Risk Management — CourseCo oversees risk management through a combination of programs such as <br />maintaining general liability insurance, complying with OSHA and pesticide management regulatory <br />compliance (we require each site to participate in the OSHA voluntary consultative review biannually), <br />building and grounds safety monitoring, participating in cooperative reviews by our workers compensation <br />insurance carrier, and providing regular safety training for staff. <br />• Funding — CourseCo has provided equity funding of improvements totaling over $75 million. We are often <br />asked to help structure capital funding plans for properties that include both direct contributions as well as <br />ongoing savings and debt programs dedicated to property improvements. CourseCo maintains excellent <br />relations with a variety of golf course financing sources and has group purchasing agreements with many <br />national vendors and contractors. <br />Qualifications of Individuals <br />Key Personnel <br />Michael Sharp, PGA, President and Chief Executive Officer <br />Michael Sharp is the President and Chief Executive Officer and managing partner in CourseCo. Michael started <br />his employment at CourseCo in 2005 as Vice President of Operations with direct oversight of golf operations <br />before being promoted to Chief Operating Officer in 2012, and then taking on his current role in 2017. As the <br />top executive in the company, Michael's focus is on building the overall company culture while maintaining <br />strong relationships with all of CourseCo's clients. <br />COURSECO Page 5 <br />I <br />