X0206 3 2020-10-06 0 0000320121 TELOS CORP TLSRP 0001541536 Minerva Advisors LLC 50 MONUMENT ROAD SUITE 201 BALA CYNWYD PA 19004 0 0 1 1 Member of 10% Group 0001214692 MINERVA GROUP L P 50 MONUMENT ROAD SUITE 201 BALA CYNWYD PA 19004 0 0 1 1 Member of 10% Group 0001828277 Minerva GP, LP 50 MONUMENT ROAD SUITE 201 BALA CYNWYD PA 19004 0 0 1 1 Member of 10% Group 0001828276 Minerva GP, Inc. 50 MONUMENT ROAD SUITE 201 BALA CYNWYD PA 19004 0 0 1 1 Member of 10% Group 0001829583 Cohen David P. 50 MONUMENT ROAD SUITE 201 BALA CYNWYD PA 19004 0 0 1 1 Member of 10% Group Preferred Stock, par value $.01 per share 122608 I See footnote (2) Preferred Stock, par value $.01 per share 153343 I See footnote (3) Preferred Stock, par value $.01 per share 7433 I See footnote (4) 12% Cumulative Exchangeable Redeemable Preferred Stock, par value $.01 per share (the "Preferred Stock"), of Telos Corporation (TLSRP) ("Telos"). Minerva Advisors LLC ("Minerva Advisors") beneficially owns 122,608 shares of Preferred Stock. David P. Cohen, as President and sole member of Minerva Advisors, is also deemed the beneficial owner of such 122,608 shares of Preferred Stock. Minerva Group, LP ("Minerva Group") is the direct beneficial owner of 153,343 shares of Preferred Stock. Minerva GP, LP ("Minerva GP"), as the General Partner of Minerva Group, Minerva GP, Inc. ("Minerva Inc"), as the General Partner of Minerva GP, David P. Cohen, as President and sole owner of Minerva Inc, and Minerva Advisers, as the investment adviser to Minerva Group, are also deemed the beneficial owner of such 153,343 shares of Preferred Stock. David P. Cohen is the direct beneficial owner of 7,433 shares of Preferred Stock. Mr. Cohen, as the President of Minerva Advisors, is also the indirect beneficial owner of the 122,608 shares of Preferred Stock beneficially owned by Minerva Advisors; and, as the President of Minerva Group, is also the indirect beneficial owner of the 153,343 shares of Preferred Stock beneficially owned by Minerva Group. On October 6, 2020, Minerva Advisors, Minerva Group, Minerva GP, Minerva Inc and David P. Cohen (collectively, the "Reporting Persons") entered into a voting and support agreement with Telos and certain other holders of the Preferred Stock representing in the aggregate approximately 32% of the outstanding shares of Preferred Stock. No other transaction is reported herein. The Reporting Persons disclaim beneficial ownership of the securities described in this statement, except to the extent of their individual pecuniary interest in such securities. The filing of his statement shall not be deemed an admission that the Reporting Persons are, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any securities specified in this statement. Minerva Advisors LLC, by /s/David P. Cohen, President 2020-10-16 Minerva Group, LP, by Minerva GP, LP, its GP, by Minerva GP, Inc., its GP, by /s/David P. Cohen, President 2020-10-16 Minerva GP, LP, by Minerva GP, Inc., its GP, by /s/David P. Cohen, President 2020-10-16 Minerva GP, Inc., by /s/David P. Cohen, President 2020-10-16 /s/David P. Cohen 2020-10-16