13D Filing: Wintergreen Advisers and Consolidated Tomoka Land Co (CTO)

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Director Nominee Information:

Wintergreen Partners Fund, LP and the
Adviser, on behalf of its clients, seek to nominate Elizabeth Cohernour, Evan Ho and David Winters (the “Wintergreen Nominees”)
to be elected to CTO’s board of directors at the annual meeting of shareholders for a one-year term expiring at the 2019
Annual Meeting of Shareholders. The Wintergreen Nominees are committed to acting in the best interests of all shareholders. Wintergreen
believes that the shareholders’ voices in the future of CTO can best be expressed through the election of the Wintergreen
Nominees rather than the Company’s nominees. In accordance with the instructions provided in the Company’s Proxy Statement
filed on March 21, 2017, we hereby submit the following information (including the information attached as Appendix A), with regards
to the Wintergreen nominees:

Nominee Information

Name Age Contact Information Business Experience
Elizabeth N. Cohernour 67

Business Address:

                                   
                                   

Residential Address

Telephone

Email

Ms. Cohernour has over 30 years of legal experience
and more than 25 years of experience investing in real estate companies. Ms. Cohernour is the Chief Operating Officer and a principal
of Wintergreen Advisers, LLC. Ms. Cohernour has substantial experience investing in the securities of real estate companies, in
which capacity she has worked with issuers’ boards of directors and management to unlock shareholder value. Such experience
in addition to Wintergreen’s investment in CTO since 2006, includes investments in Canary Wharf Group, Florida East Coast
Industries, Inc., Pacific Forest Products, Richmond, and Fredericksburg and Potomac Railroad. Prior to co-founding Wintergreen
Advisers in 2005, she served as General Counsel and Senior Vice President at Franklin Mutual Advisers and Mutual Series Fund Inc.,
a group of global and equity value funds. Mrs. Cohernour has responsibility for non-investment operations of Wintergreen. Together
with Mr. Winters, Ms. Cohernour has worked with issuers’ boards of directors and management to unlock shareholder value.
Ms. Cohernour has been integral to Wintergreen’s investment in CTO for over eleven years. Ms. Cohernour graduated with a
BA from the College of St. Elizabeth and she holds a Juris Doctor degree from the University of Tulsa.

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