[sheet: Cover]

[sheet: Cover]
Field | Value
Document Title | Funds Flow Memorandum
Transaction | $45,000,000 Senior Secured Revolving Credit Facility (Tooling Capex)
Borrower | Vantage Mobility Systems Corp.
Administrative Agent | Pinnacle National Bank, N.A.
Closing Date | June 30, 2025
Prepared By | Calderwood & Harkness LLP
Contact — Lead Associate | Marcus Leung, Calderwood & Harkness LLP, 425 Park Avenue, 31st Floor, New York, NY 10022
Contact — Working Associate | Sophie Tremblay, Calderwood & Harkness LLP
Reviewed By | Claudia Merritt, Responsible Partner, Calderwood & Harkness LLP
Status | DRAFT — Subject to revision prior to Closing
Confidentiality | CONFIDENTIAL — Attorney Work Product / Attorney-Client Privileged
[sheet: Sources & Uses]
Line Item | Description | Payee / Source | Amount ($)
SOURCES OF FUNDS
S-1 | Initial Revolving Borrowing (Term SOFR Loan, 3-month Interest Period) | Funded by Lenders pro rata to VMS | 20,000,000.00
S-1a |   Pinnacle National Bank, N.A. (50.0%) | Pinnacle National Bank, N.A. | 10,000,000.00
S-1b |   Great Lakes Commercial Lending Corp. (30.0%) | Great Lakes Commercial Lending Corp. | 6,000,000.00
S-1c |   Ironbridge Capital Finance, LLC (20.0%) | Ironbridge Capital Finance, LLC | 4,000,000.00
TOTAL SOURCES | 20,000,000.00
USES OF FUNDS
U-1 | Upfront Fee (1.00% × $45,000,000 = $450,000) — pro rata to Lenders | 450,000.00
U-1a |   Pinnacle National Bank, N.A. (50.0% × $450,000) | Pinnacle National Bank, N.A. | 225,000.00
U-1b |   Great Lakes Commercial Lending Corp. (30.0% × $450,000) | Great Lakes Commercial Lending Corp. | 135,000.00
U-1c |   Ironbridge Capital Finance, LLC (20.0% × $450,000) | Ironbridge Capital Finance, LLC | 90,000.00
U-2 | Arrangement Fee — Sole Lead Arranger | Pinnacle National Bank, N.A. | 125,000.00
U-3 | Administrative Agent Fee (Year 1) | Pinnacle National Bank, N.A. | 75,000.00
U-4 | Borrower's Counsel Legal Fees (Calderwood & Harkness LLP) — Estimated | Calderwood & Harkness LLP | 175,000.00
U-5 | Borrower's Counsel Disbursements (Calderwood & Harkness LLP) — Estimated | Calderwood & Harkness LLP | 12,500.00
U-6 | Agent's / Lenders' Counsel Legal Fees (Hargrove, Stein & Calloway LLP) — Estimated | Hargrove, Stein & Calloway LLP | 145,000.00
U-7 | Agent's / Lenders' Counsel Disbursements (HSC) — Estimated | Hargrove, Stein & Calloway LLP | 8,500.00
U-8 | UCC Filing Fees (DE Secretary of State and MI Department of State) | DE SOS / MI DOS | 1,500.00
U-9 | USPTO IP Security Agreement Filing Fees | USPTO | 1,200.00
U-10 | Good Standing Certificate Fees (DE SOS; MI LARA) | DE SOS / MI LARA | 500.00
U-11 | Net Loan Proceeds to VMS Operating Account at Lakeshore Trust Company (Acct ending 7841) | Vantage Mobility Systems Corp. | 19,005,800.00
TOTAL USES | 20,000,000.00
SOURCES MINUS USES (must equal $0.00) | 0.00
[sheet: Fee Allocation Detail]
Fee Type | Basis / Calculation | Payee | Pro Rata Share (%) | Amount ($)
Upfront Fee — Total | 1.00% × $45,000,000 Aggregate Commitments | Lenders (pro rata) | 100.0% | 450,000.00
  Upfront Fee — Pinnacle National Bank, N.A. | $22,500,000 / $45,000,000 × $450,000 | Pinnacle National Bank, N.A. | 50.0% | 225,000.00
  Upfront Fee — Great Lakes Commercial Lending Corp. | $13,500,000 / $45,000,000 × $450,000 | Great Lakes Commercial Lending Corp. | 30.0% | 135,000.00
  Upfront Fee — Ironbridge Capital Finance, LLC | $9,000,000 / $45,000,000 × $450,000 | Ironbridge Capital Finance, LLC | 20.0% | 90,000.00
Arrangement Fee | Flat fee — Sole Lead Arranger and Sole Bookrunner | Pinnacle National Bank, N.A. | N/A | 125,000.00
Administrative Agent Fee (Year 1) | Flat annual fee | Pinnacle National Bank, N.A. | N/A | 75,000.00
Total Fees Payable to Pinnacle National Bank, N.A. | Upfront ($225,000) + Arrangement ($125,000) + Agent ($75,000) | Pinnacle National Bank, N.A. | 425,000.00
Total Fees Payable to GLCL | Upfront fee allocation | Great Lakes Commercial Lending Corp. | 135,000.00
Total Fees Payable to Ironbridge | Upfront fee allocation | Ironbridge Capital Finance, LLC | 90,000.00
Grand Total — All Fees | All Payees | 650,000.00
[sheet: Legal Fees & Expenses]
Firm | Role | Category | Estimated Amount ($) | Notes
Calderwood & Harkness LLP | Borrower's Counsel | Legal Fees (documentation) | 175,000.00 | Subject to fee cap of $185,000 (exclusive of disbursements); Partner rate $1,350/hr; Associate rate $850/hr
Calderwood & Harkness LLP | Borrower's Counsel | Disbursements (filing fees, searches, courier, etc.) | 12,500.00 | Excluded from fee cap; estimated — subject to final invoice
Calderwood & Harkness LLP | Subtotal — C&H | 187,500.00
Hargrove, Stein & Calloway LLP | Agent's / Lenders' Counsel | Legal Fees | 145,000.00 | Per Pinnacle estimate; payable by Borrower per Credit Agreement
Hargrove, Stein & Calloway LLP | Agent's / Lenders' Counsel | Disbursements | 8,500.00 | Estimated — subject to final invoice
Hargrove, Stein & Calloway LLP | Subtotal — HSC | 153,500.00
TOTAL LEGAL FEES & EXPENSES | 341,000.00
[sheet: Wire Instructions]
Ref # | Party | Role | Bank Name | ABA / Routing # | Account Name | Account Number | Reference / Memo | Amount to be Wired ($)
W-1 | Vantage Mobility Systems Corp. | Borrower — Operating Account (Net Proceeds) | Lakeshore Trust Company, 777 Woodward Avenue, Suite 500, Detroit, MI 48226 | [ABA to be provided] | Vantage Mobility Systems Corp. — Operating Account | XXXX-XXXX-7841 | VMS Revolving Facility — Net Closing Proceeds | 19,005,800.00
W-2 | Pinnacle National Bank, N.A. | Administrative Agent / Lender — Fees | Pinnacle National Bank, N.A., 311 South Wacker Drive, Suite 3200, Chicago, IL 60606 | [ABA to be provided] | Pinnacle National Bank, N.A. — Agency Fee Account | [To be provided] | VMS Revolving Facility — Upfront Fee ($225,000) + Arrangement Fee ($125,000) + Agent Fee ($75,000) | 425,000.00
W-3 | Pinnacle National Bank, N.A. | Lender — Funding (50.0%) | Pinnacle National Bank, N.A. | [ABA to be provided] | Pinnacle National Bank, N.A. — Lending Account | [To be provided] | VMS Revolving Facility — Initial Borrowing Funding (net of fees: $10,000,000 − $425,000) | 9,575,000.00
W-4 | Great Lakes Commercial Lending Corp. | Lender — Funding (30.0%) | Great Lakes Commercial Lending Corp., 200 Renaissance Center, Suite 1800, Detroit, MI 48243 | [ABA to be provided] | Great Lakes Commercial Lending Corp. | [To be provided] | VMS Revolving Facility — Initial Borrowing Funding (net of upfront fee: $6,000,000 − $135,000) | 5,865,000.00
W-5 | Ironbridge Capital Finance, LLC | Lender — Funding (20.0%) | Ironbridge Capital Finance, LLC, 1251 Avenue of the Americas, 34th Floor, New York, NY 10020 | [ABA to be provided] | Ironbridge Capital Finance, LLC | [To be provided] | VMS Revolving Facility — Initial Borrowing Funding (net of upfront fee: $4,000,000 − $90,000) | 3,910,000.00
W-6 | Calderwood & Harkness LLP | Borrower's Counsel — Legal Fees & Disbursements | Calderwood & Harkness LLP, 425 Park Avenue, 31st Floor, New York, NY 10022 | [ABA to be provided] | Calderwood & Harkness LLP — Client Trust Account | [To be provided] | VMS Revolving Facility — Legal Fees and Disbursements | 187,500.00
W-7 | Hargrove, Stein & Calloway LLP | Agent's / Lenders' Counsel — Legal Fees & Disbursements | Hargrove, Stein & Calloway LLP, One Liberty Plaza, 43rd Floor, New York, NY 10006 | [ABA to be provided] | Hargrove, Stein & Calloway LLP — Client Trust Account | [To be provided] | VMS Revolving Facility — Legal Fees and Disbursements | 153,500.00
W-8 | DE Secretary of State / MI Department of State | UCC-1 Filing Fees | Various state agencies | [ABA to be provided] | DE SOS / MI DOS | [To be provided] | VMS Revolving Facility — UCC Filing Fees | 1,500.00
W-9 | USPTO | IP Security Agreement Filing Fees | United States Patent and Trademark Office | [ABA to be provided] | USPTO | [To be provided] | VMS Revolving Facility — IP Filing Fees | 1,200.00
W-10 | DE Secretary of State / MI LARA | Good Standing Certificate Fees | Various state agencies | [ABA to be provided] | DE SOS / MI LARA | [To be provided] | VMS Revolving Facility — Good Standing Certificates | 500.00
[sheet: Netting Schedule]
Lender | Commitment ($) | Pro Rata Share (%) | Gross Funding Obligation ($) | Less: Upfront Fee Receivable ($) | Less: Other Fees Receivable ($) | Net Amount to Fund ($)
Pinnacle National Bank, N.A. | 22,500,000.00 | 50.0% | 10,000,000.00 | (225,000.00) | (200,000.00) | 9,575,000.00
Great Lakes Commercial Lending Corp. | 13,500,000.00 | 30.0% | 6,000,000.00 | (135,000.00) | 0.00 | 5,865,000.00
Ironbridge Capital Finance, LLC | 9,000,000.00 | 20.0% | 4,000,000.00 | (90,000.00) | 0.00 | 3,910,000.00
TOTAL | 45,000,000.00 | 100.0% | 20,000,000.00 | (450,000.00) | (200,000.00) | 19,350,000.00