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INVESTOR RELATIONS

The Insurance office — ACME Corporation

NOT FOR THE PUBLICpublished in full
MEMORANDUM
TO: SHAREHOLDERS
FROM: THE INSURANCE OFFICE
RE: THE HORIZON (PROGRESS TOWARD)
DATE: ONGOING

Shareholders.

Progress toward the horizon continues at pace. Spending remains fully aligned with getting there. Inventory continues to move ahead of us, which is the plan working.

The board is asked, quarterly, about "there." The board refers shareholders to the founding guidance, which was verbal, and which was clear to those present, several of whom remain confident. We have to get there. This has not changed. Reasons available upon arrival.

The BLOWOUT is structural and should be read as health. Analysts describing it otherwise are describing a different company, to our benefit.

Personnel note: the department of insurance reports readiness for any eventuality, and has requested additional matches for reasons of morale. The request has been approved.

Outlook: excellent.

— The Insurance Office
on behalf of the horizon

**** The filing cabinets are, as of this printing, fine.

Questions from shareholders may be submitted in writing, to the horizon.