Rowland Set To Retire From O’Neal Industries; Lugo Assumes Role Of CFO

BIRMINGHAM, AL – March 21, 2022 – announces that, after 13 highly productive and successful years, Mike Rowland,
Executive Vice President and Chief Financial Officer, will retire effective March 31.

Rowland has a Bachelor of Chemical Engineering degree from Auburn University, and an M.B.A. from The Wharton School
at the University of Pennsylvania. Before joining O’Neal Industries, he held various leadership positions in operations,
consulting, investment banking, and private equity throughout his 41-year professional career. Rowland became Executive
Vice President and Chief Financial Officer of ONI in 2010.

“Over the past twelve years, Mike has played a leading role in ONI becoming an even stronger and more diverse company.
Mike’s contributions and importance to our organization over this period cannot be overstated,” states Craft O’Neal,
Chairman & CEO.

Rowland is actively involved in number of community and professional organizations including the United Way of Central
Alabama, the Auburn University Chemical Engineering Alumni Council, the Spookstock Foundation, and the Parkinson
Association of Alabama. He also serves as community fundraiser and a Legislative Advocate for the Michael J. Fox
Foundation through Team Rowland, Inc., a local non-profit founded by Mike and his family in 2017.

Following the retirement of Rowland, ONI has announced the promotion of Troy Lugo, who will assume the role of Senior
Vice President and Chief Financial Officer of O’Neal Industries effective April 1, 2022. In this role, Lugo will be responsible
for managing the overall financial affairs of the company and will serve as a member of the ONI Executive Committee. Lugo
joined O’Neal Industries in May 2017, as Vice President and Corporate Controller, with responsibility of ONI holding
company financial reporting, accounting, treasury, and banking activities as well as acting as a support resource for all ONI
companies on technical accounting and financial reporting issues. “Troy has excelled as Corporate Controller and is
uniquely qualified for the CFO role,” says Craft O’Neal.

Lugo holds a Bachelor of Science degree in Business Administration (Accounting major) and an M.B.A. from Samford
University, along with being a Certified Public Accountant. Before joining ONI, he worked for PricewaterhouseCoopers
(PwC) in Birmingham as a senior manager on audit engagements for public, private, and family-owned companies. He left
PwC to join McKinney Capital as Director of Finance where he oversaw the finance, treasury, and accounting activities of
several of the McKinney family office’s portfolio companies before assuming a CFO role within the company.