PROPOSAL 2 RATIFY THE APPOINTMENT OF DELLOITE &
TOUCHE LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE 2021 FISCAL YEAR
Upon the recommendation of the Audit Committee of the Board,
the Board has retained Deloitte as the Companys independent registered public accounting firm for the fiscal year ending December 31, 2021, subject to ratification by the Companys stockholders.
On March 11, 2021, the Audit Committee of the Board of PTMN approved the dismissal of KMPG LLP (KPMG) as the independent registered public
accounting firm effective upon the issuance of KPMGs report on the Companys consolidated financial statements as of and for the fiscal year ended December 31, 2020. The audit reports of KPMG on the Companys consolidated
financial statements as of and for the fiscal years ended December 31, 2020 and 2019 did not contain an adverse opinion or a disclaimer of opinion, and they were not qualified or modified as to uncertainty, audit scope or accounting principles.
During the fiscal years ended December 31, 2020 and 2019 and through March 11, 2021, there were no disagreements (as defined in Item
304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) with KPMG on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedures which, if not resolved to the satisfaction of KPMG, would have caused KPMG to make reference to the subject matter of the disagreements in connection with its audit report, and there were no
reportable events as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
Effective
March 11, 2021, the Audit Committee engaged Deloitte to serve as such Companys independent registered public accounting firm. During the fiscal years ended December 31, 2020 and 2019 and through March 11, 2021, neither the
Company nor anyone on its behalf consulted with Deloitte regarding: (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Companys
financial statements; or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of
Regulation S-K) or a reportable event (as defined in Item 304(a)(1)(v) of Regulation S-K).
It is expected that a representative of Deloitte will participate in the virtual Annual Meeting and will have an opportunity to make a statement if he or she
chooses and will be available to answer questions. It is not expected that a representative of KPMG will participate in the Annual Meeting.
On
May 9, 2019, the Audit Committee of the Board of PTMN approved the dismissal of Ernst & Young LLP (EY) as the independent registered public accounting firm effective as of that date. The audit reports of EY on the
Companys consolidated financial statements as of and for the fiscal years ended December 31, 2018 and 2017 did not contain an adverse opinion or a disclaimer of opinion, and they were not qualified or modified as to uncertainty, audit
scope or accounting principles. During the fiscal years ended December 31, 2018 and 2017 and through May 9, 2019, there were no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and
the related instructions to Item 304 of Regulation S-K) with EY on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedures which, if not resolved to the
satisfaction of EY, would have caused EY to make reference to the subject matter of the disagreements in connection with its audit report, and there were no reportable events as that term is defined in Item 304(a)(1)(v) of Regulation S-K.
Effective May 9, 2019, the PTMN Audit Committee engaged KPMG to serve as such Companys independent
registered public accounting firm. During the fiscal years ended December 31, 2018 and 2017 and through May 9, 2019, neither the Company nor anyone on its behalf consulted with KPMG LLP regarding: (i) the application of accounting
principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Companys financial statements; or (ii) any matter that was either the subject of a disagreement
(as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S-K) or a reportable event (as defined in Item
304(a)(1)(v) of Regulation S-K).
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