Annual Meeting

January 31, 2018

Joe HolschbachBoard Chair

Wes Hedrich

Board Secretary

Steve Zutz

• Financial Report

C.E.O., Country Visions Cooperative

Assets2016-2017

Inventory16.2%

Receivables12.0%

Investments29.3%

Property & Equipment

39.7%

Cash & Other2.8%

Liabilities and Patron Equities2016-2017

Current Liabilities

20.9%

Unallocated Reserve32.0%

Patron Credits26.2%

Long Term Liabilities

14.9%

Other6.0%

Sales By Division2016-2017

Agronomy38.3% Petroleum

25.2%

C-Stores15.4%

Grain14.2%

Propane5.6%

Garages & Country Stores

1.3%

Financial Ratios

• Current Ratio 1.48

• Working Capital to Sales 9.12 %

• Ownership Ratio 60.16 %

• Local Ownership Ratio 56.93 %

• Salary & Wages to Gross Margin 38.23 %

• Return on Total Assets 5.64 %

• Return on Patron Equities 8.80 %

CP FeedsValders, Wisconsin

2016-2017

• Sales $155,600,000

• Net Income $ 5,870,000

• CVC Ownership 60.8%

Mark Mentink

• Financial Report

General Manager of former KLC

Assets2016-2017

Inventory13.6%

Receivables22.0%

Investments22.7%

Property & Equipment

34.0%

Cash & Other7.7%

Kettle Lakes

Liabilities and Patron Equities2016-2017

Current Liabilities

30.0%

Unallocated Reserve14.3%

Patron Credits41.1%

Long Term Liabilities

14.6%

Kettle Lakes

Jack HankeBoard Chair of former KLC

Joe HolschbachBoard Chair

District Map

1

3

4

2

xxx

x

x

xxx

x

x

x

Director TermsFour Districts - 2 directors per district, 1 director at-large

Term Expires

District 1: Nick VanGheem 2018Brian Markwardt 2020

District 2: Joe Holschbach 2018 Dave Schneider 2020

District 3: Ray Halbur 2019 Rande Bonde 2020

District 4: Greg Rickert 2018 Bill Wiese 2019

At-Large: Wes Hedrich 2019 KLC Directors: Matt Teunissen 2018

Mike Paulus 2019Jack Hanke 2020

Directors’ election by mail in January 2018

Nomination Committee

John Hinz

Larry Shambeau

Voting Ballot

Voting Ballot

Equity Retired

Estates & Over Age 70 $ 209,000$ 11,000

2005 Equity Paid $ 925,000

Total $ 1,145,000

Patronage Distribution

Refund Rate Distribution Cash 40%

3.294 % $ 2,799,000.00 $ 1,119,000.00

$.12 per bu $ 540,000.00 $ 216,000.00

2.078 % $ 2,820,000.00 $ 1,128,000.00

$ 6,159,000.00 $ 2,468,000.00

Agricultural (Fuel, LP, Agronomy)

Grain

CP Feeds

Total

Will be paid out in early spring!

Steve ZutzC.E.O., Country Visions Cooperative

• C.E.O. Report

Thank you for your business!

Kettle Lakes Co-op MergerSeptember 1, 2017

$40 Million Sales

AgronomyRandom Lake

Sheboygan Falls

GrainRandom Lake

Cedar Grove

Country StoreSheboygan Falls

FeedRandom Lake

Random Lake Facilities

Cedar Grove

Sheboygan Falls

Kettle Lakes Co-op MergerSeptember 1, 2017

⦁ 240 voting members

⦁ 3 additional Board Members

⦁ Market area –

Sheboygan and Ozaukee Counties

Co-Energy Alliance

⦁ 50/50 Ownership with Adell Co-op

⦁ Propane and Refined Fuels

⦁ $6.8 million in Sales

Plymouth Agronomy Site

⦁ 13,000 ton Dry Plant

⦁ 25 Car Rail Siding

⦁ Liquid Fertilizer

⦁ Seed Treatment & Warehouse

⦁ Office & Shop

⦁ Growth Potential to the East

Plymouth Agronomy Site

Wrightstown Agronomy

CP FeedsWrightstown Construction

Reedsville C-Store

⦁ Remodel

Valders Grain

⦁ New 730,000 bu Grain Bin

Commitment toCommunity

• County Fair Support

• Fire Departments

• Service Clubs

• Schools

Commitment to Community

• Farm Wisconsin Discovery Center

Employee Group!

Annual Meeting

January 31, 2018

Thank You for coming!

Refreshments will be served.

Please Drive Safely!