Dear Homeowners and Social Members, This letter will be published in the next edition of the Useppa Chronicle. The Founders of Useppa Island Partners wish you and your families a very Happy Thanksgiving and look forward to seeing you on island soon. Dramatic change is underway on our island, for the better. This Founder’s Letter will be a regular feature of the Chronicle. It is intended to let you know what is on our minds – transparency is something you can look forward to under our ownership. This founding group came together in the Spring of 2025. We are an eclectic bunch with a range of experiences and skills but a shared love for Useppa. We live here for a reason. Our initial conversations confirmed a common vision for the future of the island: to restore Useppa to a best-in-class retreat in elegant, old Florida style. We were in no doubt that this the right thing to do as Useppa is a unique property, and we plan to create something very special. We also recognized in our initial meetings that now might be the right time for a change in ownership and direction of the island, led by a group of homeowners. We were correct in that thinking. The establishment of Useppa Island Partners was straightforward, and the equity capital quickly committed. The deal execution was complex, with various legal and governance hurdles, and took some months but we got there. Our legal team earned their money. We have raised capital from ten founders, and around fifty other investors to date – either homeowners or social members. This group will have a shared economic as well as emotional interest. If you have not joined as an investor, you are most welcome to do so. I have been most gratified by the level of support for our efforts by homeowners and our social and dining members, a group that it has been a pleasure to get to know. Thank you. As we rebuild the infrastructure, we will also be rebuilding one community, including all homeowners and social members. Many of our social members have known Useppa for years and nearly all remained loyal during the tough post Hurricane Ian years. We will remember that loyalty. The island has seen more investment over the past couple of months than over the past few years. Steve’s infrastructure plan is bold and being executed aggressively. We are confident that we have a business plan that makes sense, and one that will benefit the whole community. However, there are going to be some mistakes. There will be moments of frustration. What you will get from us is honesty and clarity and when we have disagreements, we will seek to resolve them amicably. I am optimistic for the future. Ownership of Useppa is in the hands of homeowners who love the island, and are providing the investment it badly needed. Our community is enthusiastic and enjoys a shared vision for the future. We appreciate your continued support as we execute on this project and make Useppa the envy of Southwest Florida. With best wishes, Simon Bound Chairman Useppa Island Partners simonb@useppa.com