Alterra Capital Investments

Dear Owners,

I am sure some of you read the press release announcing $344M in capital improvements across the Alterra Family. The bulk of this growth capital is being spent in the continuation of big projects at Steamboat Springs and Palisades Tahoe (formerly Squaw), along with new buildouts at Deer Valley, Mammoth, and Crystal. Alterra has broken its resorts into roughly 3 waves of investment groupings, the above represents the first wave. Solitude is in the second wave, and we have received growth capital for this year in the amount of $2.8M. This growth capital envelope is separate and aside from our annual capital allotment for recurring or regular maintenance. The money for this year is being used in three primary ways: (1) snowmaking exploration, engineering design, and permitting; (2) summer buildout of beginner mountain biking in the Moonbeam area, and a paved walking path between the Village and Moonbeam; and (3) planning, architectural renderings, and permitting for changes to our bus center, Moonbeam and Last Chance Lodge areas, and the future development of our Inn and Inspo parcels.

I am planning to host an in-person and virtual Town Hall in May to conduct a winter season recap, discuss our summer projects and maintenance plans, as well as give an overview of our updated 5 Year Plan - Vision to Build. The date for this Town Hall has yet to be set, stay tuned for more details on this coming in late April.

Don’t forget, we are Springing Forward this SUN, 13 MAR with expanded Saturday and Sunday lift hours (on select lifts only) until 5 PM. This means we will have Solitude’s FIRST 9-HOUR DAY of operations since the good ol’ days of night skiing here.

See you on the hill,

a.