PINE FOREST PROPERTY OWNERS ASSOCIATION

c/o: GOODWIN MANAGEMENT, INC.

11149 Research Blvd., Suite 100, Austin, TX 78759-5227
office (512) 502-7503 cell (512) 750-7783 fax (512) 346-4873
carmen.glassinger@goodwintx.com
www.pfpoa.org

TO: All Property Owners

DATE: January 22, 2010
FROM: Ed Skarnulis, Board President
SUBJECT: 2010 Annual Meeting of Property Owners

Notice of Proposed Amemdment to Artilces of Incorporation

Saturday, February 6, 2010 @ 10:00am
Aqua Water Supply Board Room
415 Old Austin Highway (road behind HEB)

Please review the proposed changes to our Corporation Articles of Incorporation. The Board of
Directors has the desire to change the number of Directors from 5 to 7, and the terms of office from 5
years to 4 years. The proposed amendment also prohibits more than one member of a family unit from
serving as a Board member at the same time.

This resolution will be presented for a vote, and will be approved if a majority of those voting cast
affirmative votes.

RESOLVED that the Articles of Incorporation be amended as follows:

“Article Seven shall be amended in its entirety by deleting the originally named
directors and their term and replacing Article Seven with the following:

“1. The number of directors shall be not less than five (5) but may be increased or decreased by the
Board of Directors from time to time by the modification of the Bylaws, provided however that no
modification of the Bylaws to decrease the number of directors shall be used to shorten the term of any
sitting director.

“2. The term of office of the directors shall be for a period of four (4) years, unless this term of office is
changed by modification of the Bylaws.

“3. The Board shall have the authority under the Bylaws to stagger the terms to insure continuity of
governance on such terms as the Board shall deem appropriate.

“4. no more than one (1) member of a family unit may serve as a director. A member of a family unit is
a member of the same household located in Pine Forest Subdivision, and would further exclude,
without regard to household, more than one (1) member of a family from serving as a director, including
spouses, siblings and children.

”5. In the event of a vacancy on the Board prior to the term of office for a director, the Board shall
select an interim director to serve until the next regular annual meeting, at which time a successor shall
be elected by the members to serve the balance of the term of office for the vacated seat.”