CAPABILITY STATEMENT

PFAL is a Los Angeles-headquartered financial and commercial advisor with offices in Marin and New York. PFAL opened our California office in March 2013, and we are a federal and California-certified woman-owned business with an LSBE designation in Los Angeles.

Our team members have successfully structured and executed a combined $100 billion in infrastructure projects in the US and around the world. This includes over $9 billion in loans provided by the US Department of Transportation's TIFIA and RRIF loan programs for surface and rail transportation projects.

PFAL is a registered municipal financial advisor with the MSRB and the SEC. PFAL Securities Inc. is a broker dealer and member of the Financial Industry Regulatory Authority, Inc. (FINRA) and SIPC CRD#: 324510/SEC#: 8-71029.