October 2, 2023

Memo to Owners

Good day shareholders

As many know, Don Midlikowski resigned as president from the board of directors on September 21, 2023, and I was elected to replace him on September 28, 2023.

On September 28, 2023, the Reef board of directors met to accept Jason Mays's resignation in a special session.

We are all sorry to see him go and wish him the best as he moves forward.

After meeting with the staff this morning, I am confident that all the day-to-day operations will continue as smoothly as they have.

Denise Anthony, our office manager for over 20+ years, will step into the management position as we form a search committee to guide the board in selecting the perfect candidate to serve the community and the shareholders best.

I have received some calls, emails, and text messages in the past week relating to Jason's resignation and the circumstances leading up to it. This board takes great pride in full transparency to all the shareholders, but please understand and respect that there are some circumstances regarding personnel matters the board cannot comment on.

Respectfully submitted
Wayne Powers
RAI, Board President

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