> **FICTITIOUS DOCUMENT — FORGE DEMO ONLY · specimen data built for a product demonstration · no real family, firm, fund, bank, or person is depicted** > **FICTITIOUS DOCUMENT — FORGE DEMO ONLY** # Wrenfield Family Council — 2026-07-16 — recording transcript (speech-to-text, verbatim) Okay, It's just past four. Let's start. I know a couple of you have hard stops. James. Are you on? Can you hear us? Yeah, ye, I'm here. I'm at the gate. So if I sorry, if I drop off just keep going, I'll dial back. We'll live with it. Welcome everybody. Quorum's fine. Katherine, Andrew, Stehen and Robert in the room. James on the phone. This is being recorded for the minutes. just so everyone knows the room's hot. Wait, recorded Reorded how? Is that going to? Audio only. It goes to the office. Grace transcribes it. Standard. Nothing leaves the building Fine. Fine, Sorry, go. So, three real things today. The distribution question Andrew raised. The tax packet status An insurance. Andrew You want to? Yeah. Yeah, so thans. Look, I'll just say it plainly. I'd like to request a distribution of four hundred thousand. four hundred K. I've got the There's the house closing and some other. four hundred Andrew This Ting on this is You don't need the reasons, It's my. The timing is honestly a little unbelievable. We are three weeks from the foundation cycle and we've got a liquidity crunch as it is. And now, sorry. Sorry. I said I wasn't going to go ahead. Let me hang on, let me stop us both here, because this is exactly the thing that gets muddy. The council does not approve distributions. That's not our call. We never have. A distribution is a trustee decision, that goes to Cranbrook full stop. So what does that? What do I do? Then? What we do is I forward your request the four hundred thousand to Cranbrook Trust Company as a trustee matter, with the file, and they decide. I'll have that to them by Friday. That's tomorrow. So, action item. That's on me. Forward Andrews four hundred thousand dollars distribution request to Cranbrook, as a trustee decision, Due Friday, the seventeenth. O. Okay, that's fine. That's fair. And I should model it. Right. Because if Cranbrook says yes, that's four hundred out the door and I need to know what it does to the c Cash Clendar Yes. Steven. I'll update the liquidity and cash flow calendar. Run the distribution scenario for Cranbrooke so they've got real numbers in front of them. I can have that by Wednesday. The twenty second Good. That's yours. Steven. Cash flow calendar Distribution scenario Do Wednesday the twenty second. Can I just I'm not turning this into anything. I just need to say it. Every time one of us pulls a number like this on no notice, it lands on the operating site and on the foundation, and I'm the one who eats it. That's all. I'm not. donon't write that down. It's not a to do, I just. I needed to say it in the room. Noted, and I mean noted, notot tasked. That's not going on the action list. It's a comment. Fair to say it. Okay. Sorry, sorry, wasas that? Did I miss the distribution thing? You're cutting out on my end. We moved it to Cranbrook. James Trustee call. I've got it by Friday. You're good. Great. Yp. Okay. Tax packet Robert, Wh are we They're mostly closed. Sturgis Valley Cider came in, the operating number, the box one Odinary business income, is one million two hundred forty thousand. one point two four Clean. That one's done. That's up from last year, Good year for Cider apparently. It is. What we're missing, two K one S still out. Harrow Point R two, and Windham Credit. Both from Barrow Kessler, and they've been slow. And there's an amended one coming on Blackford three, but that one we know about. So somebody's got to lean on Barrow Kessler for the two missing ones. Grace isn't here, Grace Kim, Staff accountant, so I'm assigning it to her out loud and I'll tell her, Chase the two missing K one S. Harrow Point R two and Wndham Credit from Barrow Kessler Due End of month the thirty first And sorry, one thing, since we're talking money moving, can I just restate the rule for the recording? because with the distribution in flight I want it on tape. Nothing wires out of this office on an email or a verbal say so. A human being verifies the wire against the portal before anything moves Every time. Doesn't matter who it looks like it's from. Yes. Thank you, Robert. Say it every time. That's the rule. That's not a task. That's just how we operate. That's all. Just wanted it said. Hey, while I've got signal, the Cormorant four note. Somebody needs to actually mark that up before the IC call, The position note's been sitting. NAV on Cormorant four is Ay two million. B the way, for the record. Held steady. Right, eighty two. I'll take the markup, That's put it on me. I'll review and mark up the Cormorant four position note before the next investment committee call. Give me till the third of August. Got it. James. Cormorant four position note Med up D august third. Two more and I'll let people go. Insurance. The fine Art and collollections policy renews august fifteenth. Ardent Specialty Tom's not here, Tom Bradley on property. So this is his and I'll pass it to him. Start the renewal ahead of the fifteenth and pull the appraisal versus inssured drift. I want to know if we've drifted before we renew. Do The drrift matters. Some of those pieces haven't been appraised in years. That's exactly why. And Foundation. Catherine. The Fall Grant Cycle. Rachel's not here either. Rachel Okoy, your EA. I'll have her circulate the updated Gant shortlist to you before the cycle, so you're not doing it cold. Do the thirtieth. Thank you. That one I actually need. Oh, the Elk Fork thing, the well and the fencing invoice Is that? Handold. That got paid last week. The well repair and the fencing at Elk Fork Ranch. It's done. No action. I only mention it so nobody chases a ghost. Perfect G. O. Let me read back the six so the recording has them clean. one. M Andrews four hundred K to Cranbrook Friday two. Sthven Cash flow calendar and the distribution scenario Wednesday the twenty second three. Grace The two missing K one S from Barrow Kessler the thirty first four. Tom Fine Art Rewwal and the Drift The twenty eighth. five. Rachel Fendation shhortlist to Catherine, the thirtieth six. James Cormerant four Markup august third Anything I' angled? That's it. That's me. I've gota run. Thanks all. And he's gone. Okay, thank you, everybody. We're adjourned > **FICTITIOUS DOCUMENT — FORGE DEMO ONLY**