To Mutual 1 Shareholder/Members

Election to Serve on Mutual 1 Board of Directors

Dear Shareholders:

As you are aware, an election has been scheduled for the purpose of seating four (4) Mutual One Shareholders on the Mutual One Board of Directors. The board met in emergency Executive Session on Saturday, May 22, 2021, to discuss a legal opinion on the status of the Mutual One 2021-2023 Board Elections. Such action was deemed necessary, as some shareholders came forward stating that they received an incorrect ballot in the Mutual One election material package received via mail. This and statements by Accurate Voting Services of a “printing error” have left the number of wrong ballots sent to Mutual One Shareholders unknown.

The Mutual One Board has ruled that the elections have been compromised and have requested a new election. In order to maintain the integrity of the election, the Mutual One Board has decided to postpone the upcoming Annual Meeting, set for Monday, June 14, 2021.

You are being provided a new secret ballot voting package (this new ballot is green in color).

Please read the instructions carefully as the included information contains a new date and time for the return and tabulation of those ballots.

The new Mutual One Annual Meeting is scheduled for Tuesday, August 10, 2021 at 10:00 a.m.

All Mutual One Shareholders are encouraged to participate in the governance of our community which includes, among other things, serving on the Mutual One Board. Should you have any questions, please feel free to contact Administration.

Randy Ankeny Executive Director Golden Rain Foundation Seal Beach