TEAM

GILBERT H. LAMPHERE - Chairman, Office of the CEO

Mr. Lamphere has nearly 40 years of experience as a principal investor and financier in rail industry and other private equity transactions. Mr. Lamphere has headed four private equity firms and has extensive operational experience as a Chairman and/or board member for a wide range of publicly traded and private companies.

Mr. Lamphere is the former Chairman of the Illinois Central Railway, Co-Founder of MidSouth Rail Corporation and former board member of Canadian National Railway (Chair of the Finance Committee and a member of the Compensation, Investment, and Audit committees), CSX (Operations, Finance, Compensation, and Public Affairs committees), and Florida East Coast Railway. Mr. Lamphere led teams and boards that bought, managed, and changed operations at Illinois Central, MidSouth, Canadian National, Florida East Coast and Southern Pacific, with alumni leading Canadian Pacific, creating gains for investors in excess of $2 billion.

Subsequently, Mr. Lamphere was a leading director at CN and FLE where rail operating executives from Mr. Lamphere's senior leadership teams at Illinois Central and MidSouth were instrumental in changing operations and optimizing CN and Florida East Coast, creating multi-billion-dollar value creation for shareholders. In addition, members of the team were also successful in turning around Southern Pacific Transportation Company (prior to its merger with Union Pacific Railroad), and Canadian Pacific Railway.

Mr. Lamphere also served as Chairman and CEO of the Prospect Group (NASDAQ:PROS), the first ever publicly traded leveraged buyout fund. Mr. Lamphere was a Managing Director and member of the Board of Directors of the Fremont Group, a diversified investment company with over $9 billion of assets under management. Mr. Lamphere also co-headed the raising and management of Fremont Partners' $605 million private equity fund, his fourth fund. Prior to his private equity firms, Mr. Lamphere was a Vice President at Morgan Stanley & Co.

Mr. Lamphere graduated from Princeton University with an A.B. in Economics with Honors and from Harvard Business School as a Baker Scholar and a recipient of the Loeb Rhoades Fellow finance prize.


MORELESS
RAJ K. GUPTA - President, Office of the CEO

Mr. Gupta has more than 23 years of experience as an advisor, principal investor, and entrepreneur in private equity funded transactions. Along with Mr. Lamphere, Mr. Gupta has been analyzing investment opportunities in the rail industry for the last 24 months. Mr. Gupta created a device similar to modern day smartphones and was the founder and CEO of YadaYada Inc., the then third largest independent wireless ISP in the U.S. Mr. Gupta was previously a private equity and investment banking professional with CIBC Oppenheimer, and JP Morgan Chase. Mr. Gupta graduated from Trinity College with a BS degree in Computer Engineering and Economics.

JOHN D. MCPHERSON - Senior Advisor, Operating Team

Mr. John D. McPherson served as a President and Chief Executive Officer of Illinois Central from 1998 to 1999 and its Senior Vice President, Operations from 1993 to 1998. He served as a Chief Operating Officer of Florida East Coast from 1999 to 2007. Mr. McPherson served in various capacities at Santa Fe Railroad for 25 years. He served as the Chairman of Las Vegas Railway Express, Inc. from May 2013 to March 2014 and a Board member of TTX Company from 1997-2007. He has served on the Board of Directors of CSX Corp since July 2008.

DAVID DEALY - Founder, Operating Team

Mr. Dealy is a 40-year Class I Railroad veteran. Mr. Dealy began his career with the Missouri Pacific Railroad in 1976 as a management trainee in St. Louis, MO. Missouri Pacific was merged with the Union Pacific in 1982. During his 17-year tenure at Union Pacific, he held a variety of Division, Region and Headquarters operating positions including Division Superintendent in Chicago, North Little Rock and Pocatello, and Regional General Manager Positions in Houston and Omaha. He joined the Santa Fe Railway in 1993 as a Vice President of Transportation and held that position for 14 years through the merger with Burlington Northern to become Burlington Northern Sante Fe Railway.

In 2009, Mr. Dealy joined Brooks International as a Managing Partner. His client base at Brooks International includes Union Pacific, Norfolk Southern, and CSX Railroads among others in oil and gas, trucking, manufacturing, and aerospace. Mr. Dealy has a B.A. from Central Methodist College and attended the Program for Management Development at the Harvard Business School.

HENRY M. CHIDGEY- Founder, Operating Team

Mr. Chidgey is a seasoned railroad executive with more than 42 years of railroad experience. Mr. Chidgey had a very successful career in North American rail by beginning as a switchman and trainman while attending college. He was the Director, President and Chief Operating Officer of RailTex (a publicly traded short line portfolio company), Senior VP and Chief Mechanical Officer of Southern Pacific, and VP, Chief Mechanical Officer and Chief Safety Officer of Illinois Central. He was also the Director and Chief Operating Officer of Ferro Norte, a major rail transportation company in Brazil, and President of Nova Este RR in Brazil. During his time at Ferro Norte, he constructed and commenced operations of a 400 km railroad into the center of Brazil, then valued at more than $1 billion. Mr. Chidgey founded and created Lone Star Locomotive Leasing that serves industrial clients with switcher locomotives. He is known worldwide as an expert in processes, procedures, and systems and has strong strategic and analytical skills with impeccable personal integrity. His career encompasses many industries, countries and cultures. Mr. Chidgey's consulting company provided highly personalized support to CEOs, owners, and senior executives of companies that are striving to maximize growth and profitability in their enterprises.

Mr. Chidgey has also served as a President and Chief Operating Officer of Hearts On Fire, which is a branded diamond and diamond jewelry company in Boston. He earned a Bachelor of Science in Mechanical Engineering with concentrations in Operations Research and Nuclear Engineering at The University of Texas. He completed two years of the Owner/President Management Program at Harvard University. Mr. Chidgey attended the Institute of Business Economics and Management at the University of Southern California. He is certified by APICS as a CPIM (Certified Production and Inventory Management Professional).

MORELESS
RON LANE - Founder, Operating Team

Mr. Lane has engaged and provided a broad range of legal advice to rail-related clients, including both counseling and litigation. He provides general counsel services to short line railroad holding companies, litigates commercial and employment disputes, and handles proceedings before the Surface Transportation Board, National Mediation Board, Railroad Retirement Board, Federal Railroad Administration, National Railroad Adjustment Board, NLRB, OSHA and Department of Labor. He was also an active litigator in federal courts across the country. He continues to negotiate labor contracts and arbitrate claims. He has experience in legal and business matters involving all types of rail operations and structuring along with government regulations, contracts and grants.

Mr. Lane came to Fletcher & Sippel LLC with 25 years of in-house Class I railroad experience. He was Vice President Law and General Counsel of Illinois Central and its public holding company, Illinois Central Corporation. Ron also held a succession of legal positions at the Atchison, Topeka and Santa Fe Railroad and served as its Assistant Vice President, Personnel and Labor Relations. He served as the small railroad representative to the STB's Railroad-Shipper Transportation Advisory Council from 1996 to 1999.

MORELESS