Manager Real Estate

VAL SALOV, CPA

*** ********** *****, ***********, *******, Canada, T1X 0R3 403-***-**** ***.*.*****@*****.*** 1

EDUCATION AND PROFESSIONAL MEMBERSHIPS

Member of the American Institute of Certified Public Accountants September 2009

Certified Public Accountant; California Board of Accountancy June 2005

Bachelor of Science, Finance; Pepperdine University (Malibu, California) June 1993 - December 1996 RECENT INDUSTRY EXPERIENCE

Opus Corporation

Corporate Controller (integrated real estate) (Calgary, Alberta) December 2015 - September 2016

Oversaw and managed corporate and project accounting, financial reporting, budgeting and forecasting, treasury and payroll;

Set up and maintained development and construction projects in Corecon updating budgets and performing cost analyses;

Performed monthly project costs to general ledger reconciliation ensuring accurate coding, billings and cost to complete;

Performed financial accounting and reporting for twenty plus additional owner related corporations and partnerships;

Managed a department of three professionals providing mentoring while maintaining an environment of continuous improvement;

Modeled twenty four month rolling cash flow forecast for the main company and the owner personal net worth projection;

Analyzed and compiled annual corporate budget providing variance to actual updates on a monthly basis;

Consolidated property management Yardi financial results of approximately one million square foot portfolio;

Prepared weekly cash position report, as well as recurring vendor/ employee EFTs and wire transfers;

Prepared and submitted monthly, quarterly and annual GST, WCB and T5018 regulatory filings;

Interacted and assisted corporate auditors with annual NTRs and review engagements, as well as annual T2 and T5013 filings;

Oversaw accounts payable and receivable functions ensuring invoices are sent out timely based on contractual agreements;

Calculated and remitted bi-weekly payroll via Ceridian Powerpay for salaried and hourly employees;

Administered and maintained adequate project bonding and commercial/ auto insurance coverage;

Created and designed various excel based databases and tools to help speed up recurring tasks and achieve cost savings; and

Ensured overall financial health of the company and related entities advising executives on financial milestones. Cenovus Energy Inc.

Sr. Financial Reporting Advisor (integrated oil and gas) (Calgary, Alberta) January - December 2015

(Fixed-term contract position)

Prepared annual and interim Management’s Discussion and Analysis for public distribution in multiple jurisdictions including oversight of the SEDAR, EDGAR (Forms 6K and 40F) and French translation proofing and filing processes;

Coordinated input of over seventy employees, including executives, directors and department heads, across twenty two functional groups and/or departments company-wide receiving, analyzing and providing active feedback on subject matter content and various analyses within MD&A and its supporting schedules;

Reviewed and kept up to date on recent business and industry development news through analysis of weekly operating results, monthly financial and operational reports, daily business intelligence highlights, and weekly fundamentals reports;

Maintained, updated and improved complex excel model supporting a multitude of various upstream, midstream and downstream related operational and financial statistics helping quantify and prioritize input variables within variance analyses;

Prepared MD&A structured forecast model populating various production and financial statistics from monthly financial and production outlook forecast files and other multiple sources;

Supported compliance with SOX processes and controls by preparing periodic comparative and final tie-in support binders as well as adhering to the internal compliance activities and processes, as required by NI 51-102 and FPI disclosure obligations;

Provided analysis and write-up of quarterly, year-to-date and annual operational performance and financial results for the oil sands, conventional, refining & marketing, and corporate & eliminations segments discussing production, revenues, operating expenses, cash flows, earnings, operating netbacks and capital investment at the segmented and cash generating unit levels;

Drafted accounting policy position memorandums in accordance with IFRS, national instrument and other regulatory standards

(i.e. AER) on various topics including decommissioning liabilities, impairment, share issuance and DRIPs; and

Prepared and reviewed various stand-alone legal entity financial statements including all supporting documentation. VAL SALOV, CPA

255 Lakepointe Drive, Chestermere, Alberta, Canada, T1X 0R3 403-***-**** ***.*.*****@*****.*** 2

Highfield Investment Group

Corporate Controller (real estate development and private equity investment) (Calgary, Alberta) April - December 2014

Managed preparation of the monthly and annual financial statements, tax filings and various management reports;

Oversaw day-to-day accounting functions and period cycles to produce timely and accurate financial information and analyses;

Led implementation, management and continuous improvement of the existing financial and process control environment;

Participated in strategic initiatives, tax planning, and investment asset management and allocation for the Group;

Led preparation and completion of the annual budget coordinating scheduling, template roll-forwards, assumptions review meetings, modeling of underlying inputs, consolidation of the results and final presentations to executive management;

Managed and directed five accounting professionals setting up goals and providing continuous coaching and feedback;

Prepared weekly consolidated cash position report incorporating numerous bank accounts, operational entities and in-depth analysis of current- and near-future available and encumbered resources, as well as related threats and opportunities;

Prepared and presented monthly consolidated cash flow forecast encompassing all short-term and up to one year out existing and upcoming projects, deals and mortgage investments classifying their probability, as well as associated risks and opportunities;

Performed daily treasury management by processing incoming and outgoing funds while ensuring timely record keeping;

Set up current and future phases of various land development projects ensuring proper recording of partner equity interests, project costs, budgets, costs-to-compete and project financing, as well as land and overall project investment amounts;

Reviewed financing commitment letters, prepared project financing draws and reconciled draw sheets to cumulative costs to date;

Calculated and recorded costs-to-complete for the existing land development projects and maintained related complex models;

Prepared, reviewed and approved bank and loan reconciliations for multiple businesses across various industries; and

Participated in the annual strategic planning off-site sessions with owners and executives contributing strategic ideas, goals, objectives and detailed action roadmaps relating to the mid- and long-term organizational development and growth. Genesis Land Development Corp.

Corporate Controller (real estate development) (Calgary, Alberta) March 2009 - March 2013

Implemented and prepared internal KPI summaries for land development, home construction and corporate business segments;

Prepared monthly corporate management update discussing liquidity, FFO outlook, financings, and share performance;

Managed corporate treasury and set related goals and objectives through timely alignment of short- and mid-term operational and administrative cash requirements to projected cash receipts from financings, real estate sales and other sources;

Modeled and updated 12-month rolling cash flow forecast identifying related short- to mid-term risks and opportunities;

Led the 5-year business plan forecast initiative by designing, implementing and maintaining the 5-year strategic cash flow forecast model and contributing insights in line with established long-term strategic goals and objectives;

Implemented annual corporate budget ensuring alignment to long-range targets and validity of divisional inputs and assumptions;

Performed financial modeling to assess feasibility (sell or develop scenarios) and profitability of land development projects through calculation of discounted cash flows, internal rate of return, net present value and related sensitivity analyses;

Interacted on a daily basis with CEO, CFO and other senior members of the management team providing active input and timely financial and operational analysis / feedback for long-range forecasting, budgeting, initiation of new development and corporate financings, land sales and acquisitions, various other business transactions and departmental synergies; and

Prepared and analyzed current and deferred income tax provision in compliance with reporting and CRA tax requirements. Manager of Financial Reporting (through August 2009)

Planned and managed monthly accounting closings and consolidation of periodic financial results for 30+ legal entities including multiple limited partnerships and non-controlling interest, while ensuring reconciliation and analysis of underlying balances;

Managed and reviewed preparation and filing of quarterly and annual financial statements & note disclosures, MD&A and AIF;

Reviewed construction and development loan draws and monitored related lending covenants for all existing corporate debt;

Performed and directed research and preparation of position papers relating to technical accounting standards and guidelines as applicable to IFRS and specifically to the real estate industry (REALpac) and its business operations;

Prepared quarterly update for the members of the Audit Committee and periodically communicated with external auditors addressing matters relating to completion of quarterly reviews and annual audits, as well as tax planning and compliance; VAL SALOV, CPA

255 Lakepointe Drive, Chestermere, Alberta, Canada, T1X 0R3 403-***-**** ***.*.*****@*****.*** 3

Oversaw corporate risk management activities including renewal and monitoring of commercial and auto liability, home construction risk, and D&O insurance coverage assessing and ensuring acceptable levels of risk exposure;

Directed design and implementation of an effective system of internal controls to ensure compliance with NI 52-109;

Managed and coached corporate accounting team of ten professionals including four designated accountants; and

Directed and managed daily operations of human resources, information technology and administrative functions. Wood Group PLC - IMV Projects Inc.

Manager, Financial Reporting and Internal Controls (oil and gas services) (Calgary, Alberta) June 2008 - February 2009

Consolidated and prepared monthly financial statements in accordance with group reporting requirements;

Prepared monthly preliminary group forecast performing significant variance analysis compared to budget;

Compiled monthly management report including preparation of group financial performance summary;

Performed monthly cost summary analyzing margins, profitability, utilization and other key performance metrics;

Coordinated, prepared and reported annual budget and periodic re-forecasts using modeling and statistical tools; and

Identified through timely planning and implemented efficiencies into the monthly financial reporting process. PUBLIC ACCOUNTING EXPERIENCE

RSM Richter LLP

Audit Manager (private client services) (Calgary, Alberta) October 2007 - June 2008 PricewaterhouseCoopers LLP

Audit Manager (natural resources practice) (Calgary, Alberta) October 2004 - August 2006 KPMG LLP

Audit Manager (natural resources practice) (Moscow, Russia) August 2006 - July 2007 Audit Senior Associate (insurance practice) (Los Angeles, California) October 2001 - October 2004

Planned, managed and completed multiple concurring financial statement audits in accordance with IFRS, Canadian and U.S. GAAP and related audit standards by negotiating fees, preparing budgets, assessing risks, developing work plans and overseeing engagement team performance of both firm and professionally required procedures;

Provided value added services by advising on implementation of appropriate accounting policies and procedures;

Trained, coached and motivated professional staff while observing compliance with applicable quality standards;

Established, enhanced and maintained strong client relationships through timely and effective client service;

Reviewed and analyzed financial statements and accompanying note disclosures ensuring compliance and appropriate presentation in accordance with IFRS (including in-depth practical application of the IFRS 1: First-time Adoption of International Financial Reporting Standards) and local statutory requirements;

Provided in-depth expertise relating to the Canadian GAAP accounting treatment on specific oil and gas / mining industries’ related issues including deferred pre-stripping costs, stock options, flow-through shares, and asset retirement obligation;

Performed assessment of internal control environments in accordance with the Sarbanes-Oxley Act of 2002 (Section 404) and Bill 198 requirements, and provided methodological guidance and improvement recommendations to management;

Provided in-depth expertise relating to the U.S. GAAP accounting treatment on specific insurance industry related issues including loss and expense reserves, other-than-temporary declines in fair value, and deferred acquisition costs; and

Selective Canadian client list included Western Oil Sands Inc., Schlumberger Canada Ltd., Encana Corp., Diavik Diamond Mines Inc., Plains Marketing Canada, E-Cycle Solutions Inc., Parts Canada Inc., Park Avenue Furniture, as well as a number of other public and private oil and gas, manufacturing and industrial products companies. VAL SALOV, CPA

255 Lakepointe Drive, Chestermere, Alberta, Canada, T1X 0R3 403-***-**** ***.*.*****@*****.*** 4

EARLY CAREER INDUSTRY EXPERIENCE

PPG Industries

Financial Analyst (industrial manufacturing) (Glendale, California) April 1999 - October 2001

Consolidated financial information for domestic and international business units;

Prepared monthly management report for domestic business units; and

Performed monthly sales and profit summary and various related statistical analyses. Baskin Robbins International

Financial Accountant (food and beverage) (Los Angeles, California) January 1997 - April 1999

Performed f/x translation and reporting of international subsidiaries’ financial statements; and

Analyzed and reconciled asset, liability and overseas joint-venture equity accounts. ADDITIONAL EDUCATION AND CERTIFICATIONS

U.S. GAAP Business Combinations course; Enbridge Faculty of Finance (instructed by Deloitte March 2014

Chartered Global Management Accountant; American Institute of Certified Public Accountants March 2013

Master of Business Administration; University of Phoenix (Calgary, Alberta) May 2006 - October 2009 SKILLS

Sophisticated user of various ERP systems, relational databases and reporting packages including Microsoft Office (high proficiency in Excel), HFM, Khalix, Oracle, Hyperion, Great Plains, Newstar, Sage 50, Quickbooks, Corecon and Caseware; and

Ability to work with people of different functional skills, organizational levels and cultures. REFERENCES

Alexander Kovac, Ph.D., CFO, Opus Corporation, 403-***-****.

Corinna King, CA, Manager - External Reporting, Cenovus Energy Inc., 403-***-****.

Simon Fletcher, CA, former CFO, Genesis Land Development Corp., 403-***-****. OTHER

Canadian citizen (will personally cover relocation expenses and TN work visa fees).

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