Cardinal Infrastructure Group CDNL

Mr. Spivey joined our Board in October 2025. Mr. Spivey founded Cardinal Civil Contracting LLC (Cardinal NC) in 2013 and has been a partner and the Chief Executive Officer of Cardinal NC since that time. Mr. Spivey has more than 30 years of civil construction experience specializing in all facets of land development and complex civil projects. Having begun his career as a part of a utility crew, Mr. Spivey worked his way through core aspects of the business. Mr. Spivey holds a Bachelor of Science in Construction Management with a minor in Business Administration from East Carolina University.

Mr. West has been a partner and the Chief Operating Officer of Cardinal NC since 2016. He has more than 21 years of experience successfully overseeing all phases of multi-million dollar civil construction projects. Mr. West holds a Bachelor of Science in Civil Engineering and Construction Management from North Carolina State University.

Mr. Rowe has been our Chief Financial Officer since we became a public company. Mr. Rowe also serves as a partner and the Chief Financial Officer of Cardinal NC, roles he has held since July 2019. Mr. Rowe was a partner and fractional chief financial officer of Rankin McKenzie LLC, a provider of part-time and interim chief financial officer services to growth companies, from December 2017 to July 2019, executive vice president, chief operating officer and chief financial officer of ING Source, Inc., a producer of medical-grade compression products for consumers, from January 2014 to May 2018, chief financial officer of Jones & Frank, a provider of turnkey fueling infrastructure from March 2010 to June 2013, and executive vice president and chief financial officer of Carolina Handling, a material handling systems integrator, from March 2006 to April 2010. Mr. Rowe has a bachelor's degree in accounting from North Carolina State University. Mr. Rowe is a Certified Public Accountant (CPA), a Certified Managerial Accountant (CMA), holds a CFA certificate from the Institute of Management Accountants, and holds an Accredited in Business Valuations (ABV) certificate from the American Institute of Certified Public Accountants. Mr. Rowe is a member of the North Carolina's Association of Certified Public Accountants and the Institute of Management Accountants.

Mr. Wimmer joined our Board in December 2025. From 2015 until May 2025, Mr. Wimmer served as the chief financial officer of Pike Corporation, one of the largest construction and engineering services companies for the electrical utilities and telecommunications industries in the United States. In addition, Mr. Wimmer currently serves on the board of directors of Reynolda House Museum of American Art, a non-profit organization, a role he's held since July 2022. Mr. Wimmer also served on the board of directors of PMI Energy Corporation, a private energy corporation from September 2019 until September 2025. Prior to that, from 2010 to 2014, Mr. Wimmer served as executive vice president and chief financial officer of New Breed Logistics Company (New Breed). Prior to joining New Breed, Mr. Wimmer spent 34 years at Ernst & Young LLP, serving as Managing Partner for nine years, where he served both audit and advisory clients and developed a broad base of knowledge. Mr. Wimmer earned a bachelor of science in accounting at Virginia Polytechnic Institute and State University, and is a graduate of the Executive MBA Program of Northwestern University's Kellogg School of

Mr. Shanfelter joined our Board in December of 2025. Since August 2023, Mr. Shanfelter has served as the chairman of the board of directors for Uniteck Global Services, a privately held nationwide fiber optic construction company. Mr. Shanfelter also has been a member of the board of directors of Orion Group Holdings, Inc. (NYSE: ORN) (Orion) since May 2007, where he assumed the role of the chairman of the board of directors in January 2021. During his tenure with Orion, Mr. Shanfelter has held various leadership positions including serving as Orion's interim chief executive officer and chief financial officer from April to September 2022, chairman of the compensation committee from May 2007 to May 2018, and as interim chief operating officer from June 2018 to November 2018. He previously served as the president and chief executive officer of MasTec, Inc., the chairman of Global HR Research LLC, and a board member of Sabre Industries Inc. Mr. Shanfelter was also a member of the Power and Communications Contractors Association in 1991 and served as its president in 2007. Apart from his corporate accomplishments, Mr. Shanfelter is the chairman of Champions4Children, a non-profit organization supporting children in the Fort Myers, Florida area and serves on the board of governors of the National Wrestling Hall of Fame. With over 30 years of diverse business experience, Mr. Shanfelter's governance proficiency is recognized by the National Association of Corporate Directors, designating him a Governance Fellow. Mr. Shanfelter earned a bachelor of science in health and physical education from Lock Haven University.

Mr. Lee joined our Board in December 2025. From June 2022 to July 2025, Mr. Lee served on the board of directors of Opex Technologies, a managed services provider in the digital transformation space. As a seasoned entrepreneur, Mr. Lee has founded and exited three technology companies over the course of his 35-year career. In 2018, Mr. Lee founded Pureport, a software defined networking company, which was acquired by Digital Realty Trust in 2020, following which Mr. Lee retired but continues to serve as an advisor to certain companies such as Opex Technologies. Mr. Lee also founded Hosted Solutions, a data center operator, in 2001 and MPInet, an internet service provider, in 1996, both of which were subsequently acquired. Mr. Lee has received a number of accolades in his career, including five consecutive Triangle Business Journal Fast 50 awards, Triangle Business Leader's Impact Entrepreneur in 2008, and the Ernst and Young Entrepreneur of the Year for Technology in 2009. Mr. Lee earned a bachelor of science degree in building sciences from Auburn University.

Mrs. Zelman joined our Board in December 2025. Since July 2021, Mrs. Zelman has served as executive vice president of research and securities at WDIB, LLC dba Zelman & Associates, a Walker & Dunlop Company, a research and investment banking firm for housing and housing-related industries. Mrs. Zelman founded Zelman & Associates in 2007, which was acquired by Walker & Dunlop in 2021, resulting in the new joint venture entity, WDIB, LLC. Prior to founding Zelman & Associates, Mrs. Zelman served as a managing director at Credit Suisse First Boston from 1998 to 2007, where she focused on housing-related research. From 1990 to 1997, Mrs. Zelman was an equity research analyst at Salomon Brothers. Beginning in March 2021, Mrs. Zelman has served as a member of the board of directors of Park River Parent L.P., a portfolio company that holds two building product companies. From December 2021 through November 2022, Mrs. Zelman served as a director of Sculptor Acquisition Corp I. Mrs. Zelman earned a bachelor of science in finance from George Mason University. She has earned numerous institutional awards, including the Institutional Investors - America Research Team rankings that placed Mrs. Zelman and her team with eleven first place rankings.

Ms. Gidley has been the General Counsel and Corporate Secretary of Cardinal since becoming a public company and has served as the General Counsel of Cardinal NC since May 2024. Ms. Gidley was corporate counsel at David Allen Company, Inc., a commercial surface company, from July 2015 to May 2024. Ms. Gidley has a juris doctor degree from Campbell University Norman Adrian Wiggins School of Law and a bachelor's degree in applied psychology from North Carolina State University.

Benjamin Wood joined ALGC in 1998. He has served ALGC in numerous capacities, most recently as Vice President. Mr. Wood's tenure at ALGC includes more than 28 years of leadership experience overseeing the company's grading and underground utility construction services. Mr. Wood graduated from Rice University with a Bachelor of Arts degree.

Anthony Wood co-founded ALGC in 1993. Mr. Wood has more than 35 years of experience with site development, infrastructure construction, and real estate investment. Mr. Wood also served as chairman of the board for Brookhaven Bank from its opening in 2007 until its merger with Georgia Commerce Bank (GCB) in 2014. He then served as a board member for GCB until its sale in 2015 to Iberia Bank where he served as an advisory board member. We believe Mr. Woods is qualified to serve on our board of directors due to his business expertise, extensive industry experience and strategic growth experience as President of ALGC.