December 21, 2017

Dear Member:

We are pleased to announce that the Boards of Directors of First Cooperative Association and Pro Cooperative have approved a Unification Agreement to combine the two cooperatives. The potential unification is subject to a vote of Pro Cooperative members, per terms of the Unification Agreement.

Based on the thorough analysis of the due diligence teams over the past several weeks, your Board members believe the unification would benefit both cooperatives in significant ways, including:

·  Strengthening market presence to best serve members and secure equity for the future

·  Increasing size and scale to maximize local and export grain market opportunities

·  Gaining operational efficiencies across all lines of business

·  Utilizing capital investment dollars for a greater impact across a larger member base

·  Creating additional career opportunities for current and future employees

The Boards of Directors also reviewed and discussed potential risks that were identified during the due diligence process. Based on all of the findings, the Board members determined that the benefits outweigh the costs and any potential risks. Pending a positive member vote, plans to integrate the two businesses and mitigate identified risks will continue to be developed.

All members are encouraged to attend a Member Information Meeting on January 3 or 4 to learn more about the unification opportunity. The schedule is included in the attached Q&A for your reference. The meetings will be a great opportunity to review the details of the Unification Agreement, discuss in more detail the findings from due diligence, and answer your questions about the potential unification.

Also in early January, we will mail to Class A Pro members the official ballot and voting instructions. Your vote is very important, and we encourage you to take time to vote over the next few weeks. A special member meeting will be held on February 15 to announce the vote outcome.

It will be our pleasure to visit with you at the January meetings. If you have questions or comments before then, please continue to contact me or other Board members.

Thank you for your business and support of your cooperative.

Sincerely,

Andy Hock

Board President

Pro Cooperative

Pro Cooperative Member Information Meeting Schedule

Wednesday, January 3
9:00 AM / Manson / Big Beve’s Restaurant 1004 Main St. Manson
12:30 PM / Bradgate / VFW 205 S. Garfield St. Bradgate
3:00 PM / Pocahontas / Pocahontas County Expo Center 310 NE 1st St. Pocahontas
Thursday, January 4
9:00 AM / Graettinger / American Legion 212 W Robbins St. Graettinger
12:30 PM / Terril / American Legion 206 Main St. Terril