NVI Technical College Information

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E NGAGEMENT SCOPE

The scope of our analysis included the following: • A review of asset inventory schedules as of January 3 as provided by BVI

• Valuation analysis of the furniture, fixtures, and equipment (FFE) utilizing appropriate valuation

methodologies

• Preparation of this report, outlining the assumptions utilized, methodologies employed and our

recommendation of fair market value.

This valuation is a Desktop Appraisal. An on-site physical inventory and inspection of the assets was not

included in the project. The appraiser relied on information about the assets as provided in the inventory

schedule, pictures of various assets, and discussions with BVI representatives.

DATE OF VALUATION AND EFFECTIVE DATE

The subject assets were valued as of January 3, 2024 (the Valuation Date). The report is transmitted on January 24, 2024.

ASSETS VALUED

For purposes of this engagement, the subject assets include automotive repair and diagnostic equipment, vehicles, automotive components (engines, transmissions, etc.), furniture, and office and technology equipment. Our value estimate reflects the “ Free and Clear ” ownership position of this collective group of assets.

EXCLUDED ASSETS

Based on the scope of the appraisal assignment, we excluded all other assets including land, inventory, intangible assets, operating lease assets, and all other tangible assets not identified herein.

EXTRAORDINARY ASSUMPTIONS AND HYPOTHECTICAL CONDITIONS

Although the Appraiser did not conduct an on-site inspection of facilities, the appraisal was reliant on certain data and information provided by BVI. The appraiser has accepted the data as being accurate and current as of the Valuation Date. Thus, the accuracy and completeness of provided data is viewed as an extraordinary assumption.

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