TPG Exposed Newsletter #1

June 8, 2024

Table of Contents:

I. Website Update /Investor Alert Series

II. First Series Alert

III. Second Series Alert

IV. Third Series Alert

V. Fourth Series Alert

VI. Closing

Dear Investment Community,

I.         Website Update/Investor Alert Series

On May 28, 2024, we updated tpgexposed.org with a new post that is the first in a series of narratives intended to inform investors and potential investors of concerns that may affect the immediate and long-term risks associated with various TPG/Exactech investment opportunities.

II.        First Series Alert

In our first investor alert, we compared some of our concerns to those committed by Papa John’s and eBay. We think these two companies demonstrate how corporate misconduct and poor company culture can severely damage investors who are left in the dark and suffer immediate and severe consequences once allegations of misconduct become public.

In our opinion, our discussion of these companies is sufficiently detailed to demonstrate that similar misconduct by TPG/Exactech would pose a high risk of a material adverse effect. Just as with Papa John’s and eBay, it is reasonable to expect that, once the information is widely disclosed, it will have a financial effect on TPG/Exactech similar to Papa John’s and eBay. Thus, the information has a high likelihood of impacting TPG/Exactech’s stock price and plaguing the company well into the future. Despite this, we have had no success locating a material impact statement warning investors who appear to be operating in the dark.

You can access the first investor alert here.

III.      Second Series Alert

In the 1990’s, Texaco executives used racist and antisemitic comments to mock Black and Jewish holidays, used racist language against Blacks and was sued for discrimination. In our second investor alert, we will use Texaco and Denny’s Restaurants to demonstrate how corporate misconduct can affected investors for decades and may eventually become influential in those brands fading.

IV.       Third Series Alert

We will then discuss why we believe some of the allegations against TPG/Exactech managers included in the letter to the president and communicated to us by employees through other means, are far more serious than the misconduct against Texaco and other companies that we previously discussed. Frankly, we believe some of these matters warrant investigation by the appropriate state or federal authorities to determine whether any crimes were committed as well as law regulatory bodies to determine if professional discipline is warranted. TPG/Exactech investors and other stakeholders deserve to know whether TPG/Exactech’s conduct was legal, and if not, the individual actors and the company should be held accountable.

V.        Fourth Series Alert

In January 2022, TPG launched an IPO. On February 26, 2024, the company arranged a secondary offer for the sale of 15,526,915 shares of stock that were governed by a lock-up agreement tied to the IPO.

On February 29, 2024, high-ranking TPG executives, including CEO & Director, Jon Winkelried; President & Director, Benjamin Todd Sisitsky; and Chief Compliance Officer (and former SEC attorney), Joann Harris along with board members and TPG affiliated corporations, sold an enormous volume of TPG stock. The prevailing price of $41.64 per share would bring the total transaction to $.65B. For perspective, TPG’s average stock price in 2024 is $43.05 as of today and it closed at $39.51 on Friday, down 2.16%. Thus, the trades occurred near the stock’s sustained peak.

We have previously discussed our inability to locate a material impact statement related to our concerns and why we think one was indicated. We have also discussed the severe economic impairment to companies that previously engaged in misconduct that we believe was significantly less egregious than our concerns. Based on our discussion of Papa John’s and eBay, it is entirely predictable that the publication of a material impact statement and national publicity surrounding our concerns may have resulted in a 50% decline in TPG’s stock price prior to execution of the secondary offering. That would have, in turn, reduced the value of the secondary offer that enriched TPG’s top insiders by at least $.32B.

Our fourth alert will discuss a detailed timeline of events related to our concerns and the secondary offer that we believe may eventually support investor civil litigation, should the stock plummet in the future due to our concerns, and a regulatory investigation. It will discuss why we believe our concerns created a conflict of interest, perhaps to the tune of $.32B, between those insiders that benefited from the secondary offer and the investing public, and how the high-ranking insiders chose to pursue their own selfish interests and hang the investing public out to dry.

VI.       Closing

By the time the series is complete, we expect to have an article published with a major business journal. Following the article, we will post the letter to the president on the website, discuss specific details and open the forums for comments.

Finally, in a recent meeting with current and former TPG/Exactech employees, we made two points that are relevant to investors as well. First, nearly 100% of our work time is spent researching, meeting with various professionals and potential witnesses, compiling investor, employee, media and other databases, etc. We’re making a lot of progress, but it takes time. As a result, updates to the website and other communications with our stakeholders are not as frequent as even we would like, but we expect the pace to improve.

Our overall objective is to remediate damages to victims of what we believe are reckless and intentional acts of misconduct carried out in an awful company culture. As such, we fully expect our fight with TPG/Exactech and the potential individual actors to take years, not months. The good news is, we are up for the fight.

Take care and we will be in touch shortly.