Concentrated value investing

Built, operated, and had successful exit of a chain of drive-through-only coffee shops.

Circle K Ventures works closely with and funds companies developing technologies that enhance convenience, are creating differentiated products and services for our customers, can unlock operational efficiencies, and are shaping the future of mobility.

• A key member of the CrossAmerica Partners leadership team - worked closely with the CEO of CrossAmerica and senior executives of Alimentation Couche-Tard to develop and implement strategy for the wholesale fuel distribution businesses of Circle K and CAPL. o Implemented cost optimization program following the merger of CST Brands, Inc. and Alimentation Couche-Tard in 2017 with approximately $8 million savings within the first twelve months. o Co-Led structuring and execution of strategic transactions with General Partner including the 2018/2019 Asset Exchange with ACT comprising nearly 200 retail siteso Co-Led the marketing and sale of ACT’s interests in CAPL in a successful $1.1 billion transaction in November 2019. o Led 2019 restructuring and upsizing of a new $750 million revolving credit facility with a 14-bank syndicate resulting in a lower pricing-grid, more flexible financial covenants, and a less restrictive collateral package. • With support from over 40 team members, led all aspects of finance and information systems for CAPL, including operations accounting, financial and SEC reporting, budgeting, tax, corporate and store IT, treasury, capital markets, risk management, and investor relations. Reported to the CFO of Alimentation Couche-Tard. • Worked closely with CAPL Board of Directors, including Audit Committee and Conflicts Committee, regarding financial reporting, operating budget, and related-party transactions.

CST Brands, Inc. and CrossAmerica Partners LP (NYSE: CST | CAPL) ● San Antonio, Texas ● 2015 to Present CST: $9.4 billion sales, one of the largest convenience store & fuel retailers in N. Am. [EV= $4.6 Billion]; CrossAmerica: a MLP with $2.2 billion of sales, one of the largest wholesale motor fuel distributors in the U.S. [EV = $1.3 Billion] Vice President and Treasurer for CST and CrossAmerica Partners Lead team of 20 Treasury and Investor Relations personnel in the US and Canada with responsibilities that include: Finance and Capital Markets activities for CST and CAPL including Debt, Equity, and Real Estate Finance. Manage 30 lending relationships across both CST and CAPL credit facilities; Capital Structure planning, cash management, debt management and compliance, and credit operations for CST and CAPL Investor Relations activities for CST and CrossAmerica Partners Report to the Board of Directors of CST Brands and the GP of CrossAmerica Partners regarding capital structure and investor relations updates and make dividend recommendation; Chairman of BPAC – oversee administration of CST and CAPL employee benefit plans; Lead/coordinate various strategic projects for CEO and CFO Key Projects (2015/2016) CST Strategic Alternative Review – aided in process resulting in successful $4.6 billion sale of CST Brands including significant contributions to the data room, financial model, and leading the creation and execution of the management presentation for bidders Coordinated financing for over $1.2 billion of acquisitions and divestitures Amended CST credit agreement and up-sized revolver to fund a $425 million acquisition in January 2016 Led and coordinated $135 million public equity offering for CAPL to fund $264 million of asset drops from CST to CAPL Led development, evaluation, and execution of an auction process to create a $1.0 billion Real Estate Joint Venture

Co-manager of the Global Resources Fund (PSPFX), a top-ranked global natural resources equity fund with over $1 billion AUM.Prior nine years experience includes VP of Equity Research at Sanders Morris Harris in Houston, a trader at Koch Capital Markets in Houston ($4 Billion AUM), and a business valuation analyst at Arthur Andersen LLP in Houston.