Professional Affiliations:

Designated Member of The Appraisal Institute (No. 70832) Designated Member of The American Society of Appraisers Georgia Certified General Real Estate Appraiser (No. 005779) South Carolina Certified General Real Estate Appraiser (No. 7040) Tennessee Certified General Real Estate Appraiser (No. CG 4920) North Carolina Certified General Real Estate Appraiser (No. A7855)

Real Estate Experience:

Managing Partner – The Retail Petroleum Group, LLC, a Division of Calhoun Sands Valuation and Advisory, Inc., November 2019-Present

Specializing in the valuation and feasibility of retail petroleum properties with staff oversight

Principal – The Retail Petroleum Group, LLC, March 2014-October 2019

Specializing in the valuation and feasibility of retail petroleum properties

Principal – JHR Appraisal & Consulting, Inc., 2003-Present

Conducting contract work for PetroVal, Inc. (see below) as well as performing independent assignments

Contract Appraiser, PetroVal, Inc., 2000-2013

Specializing in the valuation and feasibility of retail petroleum properties

Commercial Underwriter, Provident Capital Funding, 1999-2000

Underwrote commercial real estate loans (under $3,000,000) to be sold in bulk to a conduit lender

Senior Consultant, Deloitte & Touche LLP, Atlanta, Georgia, 1993-1999

Conducted commercial real estate appraisal, appraisal review, and various real estate consulting services, including litigation support, purchase price allocation, cost segregation, valuation audit support, leasehold valuation, market research, feasibility studies, and due diligence projects

Mr. Rexroat has been active in appraisal and consulting since 1993, having been employed by several appraisals and consulting firms. Experience includes an appraisal of the following property types:

Office Buildings Freestanding Comm. Buildings Lodging Facilities Multifamily Residential Vacant Commercial Land Special Purpose Properties Retail Petroleum Facilities

Office and Business Parks Shopping Centers Industrial Facilities Health Care Facilities Fitness Facilities Golf/Resort Properties Quick Service Restaurants

Mr. Rexroat has been appraising commercial and industrial properties throughout the southeastern United States for over 25 years. He has personally appraised over 2,100 convenience stores/retail petroleum outlets since 2000, as this property type has been the primary focus of his appraisal practice for the last 20 years. Mr. Rexroat has also reviewed profit and loss statements from over 2,200 convenience stores/retail petroleum outlets during this period.

Education:

B.S. Degree, Cooperative Plan, Management, Georgia Institute of Technology, 1991