Welcome & Introductions TS Update on Trust and Structures TS Update on Trust and Structures TS Update on Football Club DW Update on Football Club DW Update on Playing SquadDR Update on Playing SquadDR Update on Operational IssuesMC Update on Operational IssuesMC Break (15 minutes) Break (15 minutes) Future Plans TS Future Plans TS Q & A ALL Q & A ALL

MEMBERSHIP APPROXIMATELY 850 MEMBERSHIP APPROXIMATELY 850 FOCUS ON COMMUNICATION & VISIBILITY FOCUS ON COMMUNICATION & VISIBILITY LEGAL BILL OUTSTANDING NOW £5K LEGAL BILL OUTSTANDING NOW £5K CLEAR LINES OF RESPONSIBILITY ESTABLISHED CLEAR LINES OF RESPONSIBILITY ESTABLISHED COMPANY STRUCTURES WORKING COMPANY STRUCTURES WORKING REPORTING STRUCTURES ESTABLISHED REPORTING STRUCTURES ESTABLISHED

CURRENT STRUCTURES

DON WOODWARD (JOINT CHAIRMAN) IVOR BEEKS (JOINT CHAIRMAN) MATT CLARKE JOHN DERBAN (OWWSA) BRIAN KANE DAVID ROBERTON

DON WOODWARD (JOINT CHAIRMAN) IVOR BEEKS (JOINT CHAIRMAN) MATT CLARKE JOHN DERBAN (OWWSA) BRIAN KANE DAVID ROBERTON

DON WOODWARD (CHAIRMAN) IVOR BEEKS MATT CLARKE JOHN DERBAN (OWWSA) BRIAN KANE DAVID ROBERTON

GARRY HEATH (CHAIRMAN) KEITH BLAGBROUGH ALAN CECIL TIM GOODE REG RUNDLE

TRUST EXEC TREVOR STROUD (CHAIRMAN) COLIN TREACHER (CO SECRETARY) DAVID COOK (COMMUNICATIONS) DON WOODWARD DAVID ROBERTON MATT CLARKE GARRY HEATH KEITH BLAGBROUGH ALAN CECIL TIM GOODE REG RUNDLE

TRUST BOARD:- WEEK TWO TRUST EXEC:- WEEK ONE/ THREE GROUP EXEC :-WEEK FOUR FOOTBALL CLUB:- MONTHLY FRANK ADAMS:- MONTHLY

Agree priorities and monitor performance of the two subsidiaries Agree priorities and monitor performance of the two subsidiaries Co-ordinate input from supporters in support of the Club Co-ordinate input from supporters in support of the Club Provide operational support as and when needed Provide operational support as and when needed Co-ordinate feedback from supporters Co-ordinate feedback from supporters Liaise with Club re specific issues Liaise with Club re specific issues Drive fundraising efforts e.g. Spend & Raise Drive fundraising efforts e.g. Spend & Raise

Developing relationships with Developing relationships with Ex-Players Association OWWSAWWISCBFP

Driving the 125 th anniversary Driving the 125 th anniversary Wimbledon game! Wimbledon game! MON evening MON evening Museum memorabilia exhibition Museum memorabilia exhibition End of season legends game End of season legends game

Continuing the traditional Trust role Continuing the traditional Trust suggestion feedback discussions with Club

DETAILS 29 th JUNE 2012 Trust Bought £ 5.9m Loans from S Hayes Trust Bought £ 5.9m Loans from S Hayes Trust had put in £ 600k from April to June Trust had put in £ 600k from April to June Directors introduced some funds (FUNDING slide) Directors introduced some funds (FUNDING slide) Trust bought 100,000 ordinary voting shares 100% Trust bought 100,000 ordinary voting shares 100% Ivor Beeks gifted Trust 315,100 non voting shares Ivor Beeks gifted Trust 315,100 non voting shares Steve Hayes gifted Trust 315,100 non voting shares Steve Hayes gifted Trust 315,100 non voting shares

DETAILS 29 th JUNE 2012 Trust then owned WWFC and created FALL (Legacy) Trust then owned WWFC and created FALL (Legacy) WWFC transferred AP & TG to FALL WWFC transferred AP & TG to FALL FALL Took on Loan to S HAYES ( £ 2m) FALL Took on Loan to S HAYES ( £ 2m) FALL took on Kane family loan FALL took on Kane family loan FALL assumed Football League £937,000 grant FALL assumed Football League £937,000 grant Balance of FALL lent by TRUST Balance of FALL lent by TRUST

DETAILS 29 th JUNE 2012 Trust then loaned balance of acquired loans back to WWFC Trust then loaned balance of acquired loans back to WWFC WWFC wrote off those loans WWFC wrote off those loans WWFC then wrote back the negative goodwill WWFC then wrote back the negative goodwill WWFC balance improved to approx £ 300k deficit WWFC balance improved to approx £ 300k deficit

Details 29 th June 2012 Directors put in some temporary funds to :- 1. Pay June payroll balance 2. Pay HMRC 3. Help pay off bank overdraft 4. Catch up oldest creditors

Year to June 2012 trading loss was £ 1.5m Year to June 2012 trading loss was £ 1.5m Redundancies required Redundancies required Squad cost shaved Squad cost shaved C Of Excellence closure in process C Of Excellence closure in process Review of all activities undertaken Review of all activities undertaken Discussions with all key partners Discussions with all key partners

Downsizing mainly completed but took longer due to previous process delays (Inc Wasps) so July and August payroll higher than planned. Downsizing mainly completed but took longer due to previous process delays (Inc Wasps) so July and August payroll higher than planned. First Matches run with new staff – lots of visiting away fans First Matches run with new staff – lots of visiting away fans Huge disappointment – Contracts are not what we were told in a number of areas, neglect of previous Management evident Huge disappointment – Contracts are not what we were told in a number of areas, neglect of previous Management evident

Prep & Revision of current year budget, amended as detail emerges Prep & Revision of current year budget, amended as detail emerges June Audit, Change banks, apply Club ethos June Audit, Change banks, apply Club ethos Get a grip of the Debtors, Creditors and cash-flow - (Discuss Wasps) Get a grip of the Debtors, Creditors and cash-flow - (Discuss Wasps)

Original plan was for £400k loss Original plan was for £400k loss Current aim is to work to approx £550-£600k loss Current aim is to work to approx £550-£600k loss FALL help with cash-flow by delaying cash for rent FALL help with cash-flow by delaying cash for rent Massive pressures as Wasps attendances are down and completion delayed several months and cash still not in Massive pressures as Wasps attendances are down and completion delayed several months and cash still not in Cash supported by Ibe discounting and Beavon sale Cash supported by Ibe discounting and Beavon sale Most high costs (including Manager release) came in first 4 months. Most high costs (including Manager release) came in first 4 months.

Previous accounts were so confused (mixed with Wasps) Previous accounts were so confused (mixed with Wasps) Gate receipts are way down on previous years Gate receipts are way down on previous years (Not just a WWFC problem) (Not just a WWFC problem) We are in a lower league but fans generally are not travelling and our poor on pitch showing has lost us support at a time we hope owning our club would see an increase not a decline We are in a lower league but fans generally are not travelling and our poor on pitch showing has lost us support at a time we hope owning our club would see an increase not a decline Need to replace income we thought was there, but isn’t Need to replace income we thought was there, but isn’t ( Shirt deal, stands etc) ( Shirt deal, stands etc)

2013/14 can be breakeven but the squad spend will have to fall again unless we have a cup run or are lucky enough to sell some players 2013/14 can be breakeven but the squad spend will have to fall again unless we have a cup run or are lucky enough to sell some players We will do our best to generate NON MATCH income (this will take time) We will do our best to generate NON MATCH income (this will take time)

To replace working capital with a Bank loan (FALL) To replace working capital with a Bank loan (FALL) To discuss with shareholders / Trust, Fund raising, capital restructure of WWFC to give the Club a sound operating base To discuss with shareholders / Trust, Fund raising, capital restructure of WWFC to give the Club a sound operating base To confirm the CLUB should remain supporter owned – we have now secured our ground, so we have options To confirm the CLUB should remain supporter owned – we have now secured our ground, so we have options To consider closely volunteer help to reduce match-day costs To consider closely volunteer help to reduce match-day costs

PRE-TAKEOVER Playing budget made based upon expected income Playing budget made based upon expected income Budget agreed with Manager Budget agreed with Manager Suggested signings by GW delivered Suggested signings by GW delivered

OBJECTIVE S pend budget to provide a team capable of being S pend budget to provide a team capable of being very competitive in League 2 very competitive in League 2 Squad to be based upon a balance of experience and Squad to be based upon a balance of experience and youth youth

OUTCOME TO DATE Watford and York positive Beavon departure Beavon departure Injuries cause problems Injuries cause problems Change of Manager Change of Manager Portsmouth, Fleetwood excellent wins Portsmouth, Fleetwood excellent wins First half of Port Vale competitive First half of Port Vale competitive Injuries again cause problems Injuries again cause problems Barnet and Oxford not great Barnet and Oxford not great

ONGOING ACTIVITIES Weekly meeting with Manager Weekly meeting with Manager Football and managerial matters discussed Football and managerial matters discussed Actively seeking alternative squad players Actively seeking alternative squad players

Post takeover, culture change required Staff de-motivated Staff de-motivated Good team spirit developed Good team spirit developed Winning and better working environment created Winning and better working environment created

Obvious changes Bar pricing Bar pricing Kiosk pricing Kiosk pricing Food and beverage quality and delivery Food and beverage quality and delivery More work to do on beer provision More work to do on beer provision

We are making good progress We are making good progress We are not there yet We are not there yet Bar manager being recruited Bar manager being recruited Delivering better customer service in many areas Delivering better customer service in many areas

Not everything is working as we would like Low crowds Low crowds Low take up of buses has led to removal of Stokenchurch service Low take up of buses has led to removal of Stokenchurch service Committed to using Cressex and Chesham services Committed to using Cressex and Chesham services

We are heading in the right direction KPI's in place to monitor performance KPI's in place to monitor performance No more skeletons in cupboards (Please!) No more skeletons in cupboards (Please!) Positive direction from here Positive direction from here

We want feedback, good or bad. Please me at Please me at Use Use Hopefully not too many to Hopefully not too many to Every comment received gets a response. Every comment received gets a response.

All of you can help Trust Members and fans can be our best Ambassadors Trust Members and fans can be our best Ambassadors Please help drive custom to the Club on match and non match days Please help drive custom to the Club on match and non match days We need 850 people telling family and friends about the changes and improvements We need 850 people telling family and friends about the changes and improvements

Remember that feeling when the takeover went through This is OUR Club This is OUR Club Thank you for listening Thank you for listening

OBJECTIVES To manage the three companies, in a way that gives stability, but allows members a route to joining the Trust board and then the subsidiary boards (after 12 months) To manage the three companies, in a way that gives stability, but allows members a route to joining the Trust board and then the subsidiary boards (after 12 months) To prevent the hijacking of either subsidiary board To prevent the hijacking of either subsidiary board To ensure that AP and TG are not sold unless a significant percentage of supporters agree To ensure that AP and TG are not sold unless a significant percentage of supporters agree

PROPOSAL Trust board elected as current (annual 33% retirement) Trust board elected as current (annual 33% retirement) Subsidiary boards appointed by Trust Board, with a majority of Trust Directors Subsidiary boards appointed by Trust Board, with a majority of Trust Directors Trust Directors to qualify for subsidiary boards after 1 year Trust Directors to qualify for subsidiary boards after 1 year Other non Trust Directors to be co-opted on to subsidiary boards based on skills and experience. Other non Trust Directors to be co-opted on to subsidiary boards based on skills and experience.

BACKGROUND Founder Shareholders were given “enshrined rights” Founder Shareholders were given “enshrined rights” Founder Shares were in WWFC Founder Shares were in WWFC Enshrined rights did not specifically prevent sale of AP Enshrined rights did not specifically prevent sale of AP As Founder members die or lapse, Trust takes control of shares As Founder members die or lapse, Trust takes control of shares

BACKGROUND Over time, Trust will own a majority of Founder shares Over time, Trust will own a majority of Founder shares Therefore in theory, if Trust hijacked then subsidiaries and therefore AP become vulnerable. Therefore in theory, if Trust hijacked then subsidiaries and therefore AP become vulnerable.

PROPOSAL New category of Trust membership (Legacy Membership) to be established New category of Trust membership (Legacy Membership) to be established Qualification will be as for founder shareholders (season ticket holder for more than 3 seasons) Qualification will be as for founder shareholders (season ticket holder for more than 3 seasons) For a very short period, any season ticket holder or any supporter who has attended more than 50% of home games for last two seasons, will also qualify For a very short period, any season ticket holder or any supporter who has attended more than 50% of home games for last two seasons, will also qualify “Hard rights” will be granted to Legacy members and will need approval of 75% of Legacy members “Hard rights” will be granted to Legacy members and will need approval of 75% of Legacy members

PROPOSAL Hard rights to include sale of AP or TG, naming rights to Stadium, allowing majority stake holding in WWFC Hard rights to include sale of AP or TG, naming rights to Stadium, allowing majority stake holding in WWFC Additional “soft rights” will be granted to all Trust members Additional “soft rights” will be granted to all Trust members Soft rights to include:- changing of the quarters, changing strip more frequently, etc (suggestions very welcome) Soft rights to include:- changing of the quarters, changing strip more frequently, etc (suggestions very welcome)

PLANNED OUTCOME Veto of key issues spread across significant number of supporters Veto of key issues spread across significant number of supporters Route for Trust members to join Trust Board and then subsidiary boards (subject to 12 month qualification) Route for Trust members to join Trust Board and then subsidiary boards (subject to 12 month qualification) Stable management team for all 3 entities Stable management team for all 3 entities Right of veto for Trust members on key “emotional” issues Right of veto for Trust members on key “emotional” issues EGM calling clause if majority of members request EGM calling clause if majority of members request

Initial legal view sought (complete) Consultation period for members to consider and suggest changes/alternatives (30 th November 2012) Consultation period for members to consider and suggest changes/alternatives (30 th November 2012) Final Proposal constructed and legal advice sought (December 31 st 2012) Final Proposal constructed and legal advice sought (December 31 st 2012) Approval sought from Members at AGM (Feb 2013) Approval sought from Members at AGM (Feb 2013) Questions/suggestions to Questions/suggestions to

On field performance Financial stability Financial stability Fundraising Fundraising Continued improvement on F&B Continued improvement on F&B Your feedback and support Your feedback and support

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