Management - Fieldstone Homes

COMPANY OVERVIEW

Companies within The Fieldstone Group of companies (“TFG”) have been involved in homebuilding, entitlement, land development, land and lot sales and related operations in Utah since 1998 (the “Utah Operations”). From 2010 through 2017, the Utah Operations were primarily operated through Fieldstone Utah Investors, LLC (DBA Fieldstone Homes) and its direct and indirect subsidiaries (“FUI”). In December 2017, certain members of FUI’s key management team formed a new entity (Fieldstone Construction and Management Services, Inc, or “FCMS”) to own and manage the future Utah Operations and to manage the build-out and sale of all the real estate projects in FUI and its subsidiaries (which will be built out through 2021).

Since inception in 1998, the Utah Operations have built and sold over 4,000 homes in over 60 communities and sold over 2,000 lots.

Below are summaries of the background and experience of the key management team. Any references to start dates or years with TFG include all companies within TFG.

THE FIELDSTONE MANAGEMENT TEAM

2 AlanArthur

ALAN ARTHUR

Chief Executive Officer

Alan has over 35 years of experience in all aspects of homebuilding, entitlement, land development, and related operations, including multi-state operations, opening new divisions, raising over $1 billion in new capital (including entity and project level debt and equity with institutional and private investors), the structuring and completion of over 60 joint ventures, surviving two recessions, and managing post-recession growth.

Since joining TFG in 1985, Alan has held various management positions, including Treasurer, Chief Financial Officer, President and CEO. Alan has been involved with the Utah Operations since inception in 1998.

Before joining TFG, Alan was a Consulting Manager with Kenneth Leventhal & Company (now EY) and an auditor with Pricewaterhouse Coopers. Alan graduated Cum Laude from California State Polytechnic University, with a Bachelor of Science in accounting and finance.

3 TroyGabler

TROY GABLER

President

After graduating from Brigham Young University in 1999 with a degree in Construction Management, Troy moved to the Southeast where he worked with a large “On your lot” builder. During this time he held positions as Superintendent, Production Manager, and General Manager. He then moved to Nevada where he worked with a production builder as the Director of Construction.

In 2005 Troy joined TFG as the Director of Construction in Utah and in January 2010 he was promoted to President of FUI and is now President of FCMS.

Troy has over 20 years of experience in all aspects of the homebuilding industry and related operations.

5 JasonHarris

JASON HARRIS

Vice President of Land Acquisitions

Jason Harris joined TFG in 2013 and manages the land acquisition and entitlement and the land sale operations.

Jason started in the industry in 2005 by providing deal sourcing, due diligence and entitlement services for local Utah investors and developers. At the same time, he attended college at Brigham Young University and, in 2008, graduated with a degree in Construction Management.

Following graduation, and during the height of the recession, Jason received his real estate license and provided realtor and consulting services to organizations including the FDIC and other local banks and lenders. He assisted them in developing selling strategies for millions of dollars in land and commercial assets. In addition, as the market began to recover, Jason focused on infill development opportunities and delivered lots to small home builders.

Lauren Farnsworth

LAUREN FARNSWORTH

Director of Finance and Accounting

Lauren Farnsworth obtained her bachelor’s and master’s degrees in Accounting from the University of Utah. She spent five years working in the Ernst & Young Financial Services audit practice in Salt Lake City, where she specialized in banking and capital markets clients. In 2014, Lauren left EY to work with American Express, where she was a Director of Financial Reporting and an Interim Director of Accounting over Treasury Operations.

Lauren joined TFG in July of 2017 as the Corporate Controller. In June of 2018, she was promoted to the position of Director of Accounting and Finance and became the Chief Financial Officer in January of 2019. As Chief Financial Officer, Lauren is responsible for managing all aspects of accounting, financial reporting, finance and capital, investor relations, information technology and human resources functions. Lauren also recently oversaw an ERP conversion at TFG.

Lauren is a Certified Public Accountant, a member of the Utah Association of Certified Public Accountants, and a former member of the University of Utah Young Alumni Board of Directors.

6 JasonChisholm

JASON CHISHOLM

Vice President of Operations

Jason has been with TFG 17 of the last 20 years. He originally joined Fieldstone Homes in 1998 and has held key management positions specializing in Operations, Construction Management, Design Center Management, Project Management and Risk and Value Engineering.

In 2013 Jason pursued an opportunity to help Oakwood Homes start a Division in Utah as the Vice President of Operations. Following a successful stint with Oakwood Homes, Jason rejoined Fieldstone in 2017 as the Vice President of Operations, the same position he held prior to his departure. As Vice President of Operations for Fieldstone Homes he is responsible for strategic planning and day-to-day operations through management of the directors and managers on his team.

With over 20 years of overall construction management experience in both residential and multi-family homebuilding in Utah, Jason has earned a strong reputation as an organized and efficient operator with a successful track record of managing growth while maintaining quality and cost efficiencies.

9 WesHansen

WES EDWARDS

Director of Sales and Marketing

Jason has been with TFG 17 of the last 20 years. He originally joined Fieldstone Homes in 1998 and has held key management positions specializing in Operations, Construction Management, Design Center Management, Project Management and Risk and Value Engineering.

In 2013 Jason pursued an opportunity to help Oakwood Homes start a Division in Utah as the Vice President of Operations. Following a successful stint with Oakwood Homes, Jason rejoined Fieldstone in 2017 as the Vice President of Operations, the same position he held prior to his departure. As Vice President of Operations for Fieldstone Homes he is responsible for strategic planning and day-to-day operations through management of the directors and managers on his team.

With over 20 years of overall construction management experience in both residential and multi-family homebuilding in Utah, Jason has earned a strong reputation as an organized and efficient operator with a successful track record of managing growth while maintaining quality and cost efficiencies.

8 TravisStolk

TRAVIS STOLK

Director of Land Development

Travis grew up in the construction and development industry in Colorado Springs working for a local custom home builder. He later attended Brigham Young University in Idaho and received a degree in Construction Management. Following graduation, he moved to California to work as an intern for a large apartment builder. A few months later he was hired on full time as a Project Engineer. Prior to joining Fieldstone, Travis spent the majority of his career with KB Home in San Diego and Orange County. During his 7 years there he held positions as Construction Manager, Land Development Consultant, Land Associate, Land Development Superintendent, Forward Planner and Project Manager.

Travis and his family relocated to Utah in 2017 to join Fieldstone as a Land Development Manager and was quickly promoted to Director of Land Development.

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