Letter from the Chairman of the Board

May 20, 2022

The Board of Directors of Forestry Mutual is pleased to announce the appointment of William A. Dine as President, effective June 20, 2022. Bill holds a BA in Business from Georgia Southern University and will step into the shoes of our retiring President as the Company begins transitioning for Keith"s retirement at the end of July.

Bill is a proven leader with extensive experience in operations, underwriting, sales, marketing, and product development. His most recent tenure afforded him the opportunity to expand the company's geographic footprint while increasing brand recognition, underwriting expertise, and improved automation capabilities throughout the organization. Bill is innovative and results oriented with an excellent track record of translating strategy into action plans.

Bill brings over 30 years of insurance experience and is committed to delivering and expanding the Forestry Mutual mission of providing affordable workers' compensation insurance with an emphasis on delivering high-quality loss control services to the industry and the policyholders we serve.

Bill is also looking forward to being a spokesperson and champion for Forestry Mutual and the industry as we all work to deliver and expand on our mission as a company. He is eager to become a member of the team and looks forward to meeting and getting to know everyone throughout the organization.

Bill and his wife Julie are excited about this new chapter in their lives as they will be closer to their daughter who was recently married and lives in Durham.

Sincerely,

Michael P. Walters, Chairman of the Board, FMIC