Jamie Pierson

● Recruited by the chairman of the board to lead immediate business transformation and major operational change management initiatives. ● Partnered with the CEO, COO, and extended senior leadership team to implement a monthly business review for the 1st time in company history while automating and elevating the quality of the information from a spreadsheet review of 350 general ledger (GL) accounts and 127 divisions to a strategic yet detailed business review of operational KPIs across nine regions, concluding with consolidated financial results, monetization of KPIs, focus on free cash flow, and round-trip cash conversion cycle. ● Doubled EBITDA in 12 months and increased liquidity by tens of millions of dollars within nine months. ● Transformed the finance organization reporting structure of nine separate departments from privately owned entrepreneur mentality to public company “lite” caliber inclusive of upgrading direct report positions and strengthened control environment. ● Successfully placed $150M A/R securitization replacing legacy bank while increasing liquidity by over $20M.

• Reoriented the focus of operational leadership from net income to free cash flow (FCF), improved company’s efficiency at turning revenue into cash inclusive of a round trip cash conversation cycle of $5B of receipts and disbursements. • Led the disposition and monetization of Germany’s largest secondary smelter ($100M). • Developed a highly disciplined capital allocation process representing more than $100M in annual deployed capital, successfully closed $200M global ABL facility spanning 4 continents and 7 countries, and managed a global shared services organization responsible for $200M of annual spend. • Strengthened operations and processes by transforming the Internal Audit department from a rigid accounting-centric organization to a consultative, strategic advisory group focused on identifying operational improvements.

• Recruited back to company to direct operational and financial strategy including departmental reporting of Financial Planning & Analysis (FPA), Cash Management, Risk Management, Accounting, Treasury, Investor Relations, Internal Audit, Tax, and Technology. • Principal liaison for board communications, credit rating agency management, and covering analyst relationships. Primary contact for lender, shareholder communication / management, and government / lobbyist relations. • Successfully secured the largest CARES Act loan ($700M) in trucking industry history with the United States Treasury as the principal counter party including $400M of fresh capital infusion. • Developed liquidity preservation plan which resulted in amassing over $450M of liquidity (highest level in over 10 years) in the face of the pandemic to bolster cash to weather the uncertain economic environment and satisfy contractual calls on cash / liquidity. • Within the first 6 months, (1) negotiated four credit agreement amendments to avoid breach of covenants and cross defaults, (2) extended maturities 3+ years to allow the company operational flexibility to complete multi-year Enterprise Transformation, and (3) got a preexisting “going concern” removed from the company’s SEC-reported financial statements. • Led Enterprise Transformation efforts to combine both operating and back office systems for five very engrained 90-year old companies. • Led Business Intelligence (Power BI) and Master Data solution implementation across a very antiquated internal reporting system to increase the speed, accuracy, and quality of decision making. • Designed / reconstituted compensation and incentivization program to decrease churn, drive growth in new business, and focus on unlevered free cash flow (UFCF) generation.

• Instrumental in selling Asian Pacific subsidiary ($250M), retired $200M in secured debt and rightsizing the balance sheet commensurate with the company’s profitability and cash flow characteristics. • Improved balance sheet management by detailed review of vendor contracts, customer contracts, and inventory rationalization inclusive of improving ABL availability by over 10%.

• Strategic business partner responsible for driving sales and operational improvement, predictive real-time decision making, financial reporting, and SOX control environment preparation. • Prepared company for Initial Public Offering inclusive of SEC filing requirements, SOX control environment development and adherence and back office infrastructure including Disclosure Review Committee constitution. • Responsible for development of Project Management Office / Center of Excellence leading multi-functional and trans-company initiatives to improve communication, collaboration, and performance. • Successfully digitized a paper-laden $1.5B company from order-to-cash within 18 months, increasing speed, data collection, and analysis thereof including the Robotic Process Automation in the accounting department.

• Independent advisor and business partner to the CEO as strategist and change agent to drive and increase value across individual operating companies and ultimately the holding company. • Principal liaison and translator of complex business with innumerable buy-side analysts / investors ranging from activist style hedge funds to longer-term mutual funds, 5 sell-side analysts, 30+ lenders, 2 rating agencies, 20+ insurance companies / brokers, trade publications / press, and the International Brotherhood of Teamsters (IBT) and their financial advisors. • Drove “best practice” coordination across four disparate operating companies resulting in annual operating expense savings in excess of $50M. • Raised $250M in equity, $700M senior secured term loan, $450M ABL, and split existing pension fund note into secured and unsecured resulting in approximately $50M in annual interest savings and a ratings upgrade from S&P. The restructuring also resulted in a new, 5-year contract extension with the IBT. The negotiations included over 10 equity sponsors, 50 lenders, 36 pension funds, and 2 unions. • Managed self-insurance programs and supporting letters of credit. During tenure, decreased supporting collateral and increased liquidity by approximately $150M (from $350M to $500M). • Spearheaded disposition of all non-core assets (excess real estate, redundant 2nd headquarters, truckload carrier, and two Chinese joint ventures) resulting in over $100M of proceeds to reinvest and focus on core operations.

• Led 4 independent teams (operational, refinancing, liquidity management / preservation, and long-term modeling) through highly complex and contentious restructuring of North America’s largest less-than-truckload (LTL) carrier resulting in successful recapitalization of the company’s capital structure and preserving equity value for existing stakeholders. • Provided both interim Chief Financial and Chief Restructuring Officer duties to client company in addition to day-to-day engagement responsibilities. • Delivered interim management, financial, and operational solutions focused on business plan development and review, performance and process improvements, cash flow and working capital management, cost reduction initiatives, recapitalization strategies, and financial forecasting for companies, private equity firms, and creditors. • Negotiated numerous amendments to the company’s term loan and asset-based loan agreements ranging from technical changes to fundamental and structural deal points inclusive of covenant and collateral package modifications.