Contract analysis

I. PURPOSE AND SCOPE This Claims Reporting Compliance Checklist (this "Checklist") has been prepared by Calderwood & Harkness LLP ("C&H") in connection with the upcoming renewal of the Directors & Officers ("D&O") liability insurance tower and the product-liability/general liability ("PL/GL") insurance tower maintained by Nexford Industrial Holdings Inc. ("Nexford" or "NIH"). The renewal effective date for both tower

II. SUMMARY OF PENDING CLAIMS REQUIRING TRANSITIONAL NOTICE As of the date of this Checklist, there are three claims or matters in Nexford's claims history that require transitional notice or confirmation in connection with the July 1, 2022 renewal. Two are active product-liability lawsuits; one is a resolved D&O matter. Each is summarized below with the transitional steps necessary to ensure coverage continuity. A.

III. D&O TOWER — CARRIER NOTICE REQUIREMENTS (2022-2023 RENEWAL POLICIES) The following section sets forth the notice requirements for each carrier in the D&O liability insurance tower for the 2022-2023 renewal policy period. Total D&O renewal premium across all layers (excluding Side-A DIC) is $1,498,200. The tower is structured as follows: Total D&O Tower Limits: $40,000,000 (plus $20,000,000 Side-A DIC dedicated)

IV. PRODUCT-LIABILITY TOWER — CARRIER NOTICE REQUIREMENTS (2022-2023 RENEWAL POLICIES) The following section sets forth the notice requirements for each carrier in the product-liability/general liability insurance tower for the 2022-2023 renewal policy period. Total PL renewal premium across all layers is $2,985,500. The tower is structured as follows: Total PL Tower Limits: $75,000,000 A. Primary GL/PL Layer — Midla

V. TRANSITIONAL NOTICE CHECKLIST — PENDING CLAIMS AT RENEWAL The following checklist items must be completed on or before July 1, 2022, to ensure proper transitional notice for the pending claims identified in Section II. Donna Kowalski, as Director of Insurance and Claims, is responsible for completing each item, with oversight from Trevor Haines (VP Risk Management) and coordination with Ashford Breckinridge LLP (b

VI. FUTURE CLAIMS — REPORTING PROCEDURES AND INTERNAL PROTOCOLS This Section establishes the procedures that Nexford personnel should follow when new claims, occurrences, or reportable circumstances arise during the 2022-2023 renewal policy period. These procedures apply to both the D&O tower and the PL/GL tower, including the standalone Side-A DIC policy. A. Identification of Reportable Events The following categori

VII. CARRIER NOTICE ADDRESS DIRECTORY Note: The actual claims-reporting addresses for all nine renewal tower carriers are to be confirmed by Ashford Breckinridge LLP upon issuance of all renewal policies. The entries below contain placeholder information and must be updated when confirmed addresses are received from Ashford Breckinridge. Until updated, notices should be sent to the addresses reflected in the policy b

VIII. DEFENSE COST EROSION MONITORING Because the Midland Casualty primary GL/PL policy (Policy No. MCS-GL-2022-58904) treats defense costs as eroding the $10,000,000 aggregate limit, it is essential that Nexford maintain rigorous tracking of cumulative paid losses and defense costs throughout the renewal policy period. Defense cost erosion directly affects the proximity to the Great Basin Insurance Company 1st exces

IX. SPECIAL CONSIDERATIONS A. Product Recall Reporting The product recall sub-limit under the Midland Casualty primary GL/PL policy has been increased at renewal, upon C&H's recommendation, from $2,500,000 per occurrence / $5,000,000 aggregate to $5,000,000 per occurrence / $10,000,000 aggregate. The incremental premium for this increase is $67,000, which C&H considers reasonable in light of Nexford's recall history

X. OUTSTANDING ITEMS AT TIME OF CHECKLIST PREPARATION The following items remain outstanding as of the date of this Checklist (June 1, 2022) and require prompt follow-up to ensure that the Checklist is complete and fully operational before the July 1, 2022 renewal inception date: • [ ] Carrier Notice Addresses. Obtain final, confirmed claims-reporting addresses from Ashford Breckinridge LLP for all nine renewal tower