We would like to give you a brief summary of how the Board has been working to protect the interests of CPO over the last 8 weeks. We have been fully engaged with as many parties as possible who were involved in the sale. Of the four shortlisted bidders, face to face meetings were held with three of them and the fourth was held virtually. We met with several of the groups who had previously expressed an interest but not made it on to the shortlist. We have also had discussions with the True Blues consortium. We have contacted and lobbied relevant officials at DCMS as well as the local MP for Chelsea and Fulham. In each case we are satisfied that the key issues surrounding CPO's relationship with the Club have been presented. Bidders were made aware that our priorities are:• that football continues to be played at Stamford Bridge by a team called Chelsea FC• the redevelopment of the ground to create the best stadium in London for the best team in London• agreeing a process that ensures the outstanding loan to the Club is resolved in a mutually beneficial way• underpinning the future of CPO as part of the Chelsea infrastructureAs the sale process is now reaching the point where there is some certainty, we will of course continue our dialogue with the Boehly team to pursue our objectives.

To support our activity, we also connected with a large number of media outlets both in the UK and overseas, and took part in TV, radio and press interviews. The list of these organisations includes amongst others the BBC, Sky Sports, The Financial Times, The Times, The Telegraph, The Mail on Sunday, The Athletic, The Sun, The i Newspaper, goal.com, along with a number of podcasts with connections to the Chelsea community. We remain in regular contact with many of these outlets. We have also consulted with corporate lawyers, accountants, PR experts and architects to get their advice and guidance where necessary.

We are grateful for the cooperation and collaboration with the Board of Chelsea Supporters Trust in representing each other’s interests throughout the process. We hope this partnership will continue in the era of the new ownership.Finally, as you may have seen from our social media posts, there has been an unprecedented level of share applications since the announcement of the sale.

The number since March 2nd has been significantly higher than we would normally receive in a whole year. This has put a strain on our resources and it has taken longer than we hoped to process the shares. We apologise again for these delays and assure everybody that has applied that they will get their shares, so please do not cancel any new applications that you may have made. The Board is of course delighted to see so many new shareholders joining the CPO family as it strengthens our position when talking to new owners. Please continue to spread the word about CPO to family, friends, work colleagues, social media contacts. Every share sold will help to strengthen our position. Please note that from now on signed shares will not be available for purchase until the start of the new season.Thank you as always for your support and constructive feedback. We have appreciated hearing from so many of you during the last few weeks. This has been a time like no other in Chelsea's history, and we all hope that the new era will be a successful one for our Club.