Spring 2025 Shareholders Update

Dear Family Shareholders:

I hope this letter finds you and your loved ones in good health and high spirits as we embrace the promise of this new season. The board is excited to share these developments in our family investment journey.

Property Updates

I’m thrilled to report that our property is now 100% leased! This significant milestone represents our collective vision and patience coming to fruition. Here are the details:

AutoZone continues to progress with their plans. While they’re still awaiting final permits to begin construction, they have started paying rent on the front parcel. This steady income stream benefits our bottom line even during this interim period. We anticipate they will receive their permits by June and construction will commence shortly thereafter.

We’ve secured a new tenant, Cabinet IQ, who will be opening their doors in Unit A/B by the third quarter of this year. The store will provide kitchen and bath remodeling services as well as custom cabinetry and countertops. Although it was sad to see WeightSpace not be able to gain a foothold, Belk Lucy was able to quickly fill the space. This addition completes our tenant roster and strengthens our diverse mix of businesses.

Property Improvements

Our transition work with Belk Lucy continues to progress smoothly. Their expertise has been invaluable as we plan strategically for the future of our property.

This spring, we’re initiating several important property upgrades:

• Restriping and adding curbing to the parking lot

• Conducting a comprehensive building assessment

• Making significant investments in landscaping

• Building a new marquis sign

These improvements will enhance both the appearance and functionality of our property, potentially increasing its long-term value while creating a more appealing environment for our tenants and their customers.

Upcoming Survey

In the coming weeks, we’ll be sharing a survey with all shareholders. While participation is completely voluntary, your feedback will be tremendously valuable as we assess how our shareholder base may grow in the future.

As a reminder, we operate as an S-corporation, which requires us to maintain fewer than 100 shareholders to remain compliant with tax regulations. Understanding family growth projections will help us make informed decisions about our corporate structure that serve everyone’s best interests.

Annual Shareholder Meeting

Please mark your calendars for our Annual Shareholder Meeting on August 2nd. During this important gathering, we’ll share the updated business plan as well as what we learned, generally, from the survey as it relates to our corporate structure.

In June, you’ll receive a letter requesting nominations for board service. We encourage interested family members to consider this opportunity to contribute to our shared legacy.

Family Scholarship Program

Our family scholarship applications are now open until June 15th. Please encourage any younger family members who are college-bound to apply. This program represents our commitment to investing not just in property, but in our family’s future through education. Details about the application can be found on the Corporation website: https://www.green-myersdevelopment.com/scholarship.

The scholarship winner will be announced at our Annual Shareholder Meeting on August 2nd.

Closing Thoughts

As we move forward with these exciting developments, I ask for your continued prayers and support of our board of directors. Your trust empowers us to make decisions that honor our family’s legacy while building a stronger financial future for generations to come.

With heartfelt appreciation,

Kerri Forrest, President