Voigt Paul → INNOVATE Corp. VATE

The shares and options described in Item 3(a) above were acquired by Mr. Voigt in connection with, and as compensation for, his service as an executive officer of the Issuer. The shares described in Item 3(b) above were acquired by the applicable Reporting Person for investment purposes, based on that Reporting Person's belief that the Common Stock represented an attractive investment. None of the acquisitions described in this Statement were made for the purpose of, or with the effect of, changing or influencing control of the Issuer. Except as set forth in this Statement, the Reporting Persons have no present plans or proposals that relate to or would result in any of the actions or events described in Items 4(a) through (j) of Schedule 13D. The Reporting Persons intend to review their investment in the Issuer on a continuing basis and, consistent with Mr. Voigt's position as an executive officer of the Issuer, may from time to time formulate plans or proposals with respect to the Issuer, and reserve the right to change their intentions with respect to any of the matters described in this Item 4.