Arden Beaches Inc.
Quarterly Reporting
Board of Directors of Arden Beaches Inc.

The following reports are presented by the Board of Directors of Arden Beaches Inc. for informational purposes only. These reports are intended solely for use by members of Arden Beaches Inc. and are not intended for public distribution or consumption. The activities presented herein have not undergone an independent review and are subject to adjustment or reclassification after the reporting period.

The Board of Directors believes the following context is important for understanding and evaluating the information included in this report:

Cyclical Trends: Arden Beaches Inc. derives the majority of its operating revenue during the first and fourth quarters of the calendar year. Conversely, expenditures primarily occur during the second and third quarters. As these reports are prepared on an annual basis, individual members should consider these cyclical trends when interpreting the organization’s financial performance.

Reporting Period: Invoices for the upcoming year are issued beginning November 1. Accordingly, revenue reported reflects the period from November 1 of the previous year through October 31 of the current year.

Adjustments and Reclassifications: As noted above, these reports have not been independently reviewed. Such a review typically occurs after the close of the calendar year. Certain transactions—particularly capital expenditures and the purchase of shares—have been included in the current report but may be reclassified during the year-end closing process to comply with financial statement reporting requirements.

The Board of Directors appreciates the active involvement of its members in the organization’s decision-making process. If you have any questions arising from your review of these reports, please contact the Board collectively. Additionally, time is reserved at the end of each monthly meeting to address members’ questions, comments, or concerns.

Sincerely,

The Board of Directors of Arden Beaches Inc.