Sent on Behalf of Andy Wirth – Important Leadership Announcement

Good morning,

As a friend and associate, I wanted to be the very first to let you know that after careful reflection and consideration, I’ve made the decision to retire and step down from my position as President & COO here at Squaw Valley Alpine Meadows. My wife’s work is down in Southern California and she resides in our new home in San Juan Capistrano. It was after a week of time away with our daughters and my wife that we decided this was simply the right decision for our family and children.

I’m prideful in having worked here at Squaw Valley Alpine Meadows over the past eight years having spent the vast majority of that time as the Chief Executive Officer. I look back on these eight years with great pride associated with a great many initiatives, but in particular: the acquisition of Alpine Meadows, the deployment of nearly $100 million in truly transformative capital and advancing the California Express Gondola, a generations-old dream of so many. However, above all and most importantly, I’ve enjoyed the time spent with our team at these truly remarkable and legendary mountains.

My retirement (which might end up actually being more like semi-retirement) will allow me to not only spend more time with my family, but focus on some of my passions including the active support of wounded warriors and environmental causes – advocacy and action.

I will transition out of my position over the coming days and am working with David Perry, President & COO of Alterra Mountain Company to facilitate the leadership transition for our company. While a search will begin for a new President & COO, we are very pleased that Ron Cohen, Alterra’s Deputy General Counsel, has agreed to be the interim President & COO here at Squaw Valley Alpine Meadows. Ron has been working in the outdoor industry for 16 years, including eight years with our friends at Mammoth Mountain. Ron is a terrific and talented executive and, along with all of us, is focused on a smooth transition for all of you and the company.

Warmest regards and respectfully,

Andy