Bass Pro Shops 2500 E. Kearney Street Springfield, MO 65898 417-873-5000 Fax 417-831-2802 MEMO TO: All Bass Pro Shops, White River, Big Cedar Team Members, Important Vendors and Significant Conservation Partners FROM: Johnny Morris DATE: October 3, 2016 SUBJECT: Uniting with Cabela’s I write this letter with the belief that it represents the most important expression of deeply held convictions regarding the future of our company that I may ever have the opportunity to convey. There is no way I can begin without first saying, THANK YOU TO EACH AND EVERY ONE OF YOU! Your hard work, passion and dedication to applying your extraordinary talents have made possible the exciting announcement we’re making today. This morning it is with tremendous pride and humility that I share with you the great news that Bass Pro Shops and Cabela’s have agreed to combine our two legendary brands to create a truly premier retailer in outdoor sporting goods. This merger of resources, experience and passion for the outdoors represents a unique opportunity for both organizations and their respective team members. For many years I have believed there is a remarkable strategic fit between our companies. The prospect of bringing together our timetested, iconic outdoor brands: Cabela’s a leader in hunting, Bass Pro Shops a leader in fishing, and White River Marine Group a worldwide leader in boating, is very exciting! In my view this really is a “once in a lifetime” opportunity for both of our companies and clearly provides the foundation to create a “best of the best” shopping experience for all outdoor enthusiasts worldwide for generations to come. I truly believe combining our two companies in this transaction will benefit our collective associates and our vendors while enabling us to enhance our service and expand our products to better serve our valued customers. I have enormous admiration for Cabela’s and the remarkable brand and business they have built. Cabela’s is a great American success story. Dick, Mary and Jim Cabela started the company at the family kitchen table when Dick decided to place an ad to sell fishing flies. From that humble start, the Cabela’s family, along with a remarkable team of “outfitters” has grown to become one of the premier specialty retail companies. Today Cabela’s nearly 19,000 outfitters operate 85 stores across the United States and Canada, offering merchandise and equipment for hunting, fishing, marine use, camping and many other outdoor activities as well as a best in class direct and ecommerce business. Both of our companies share a remarkably similar heritage, each starting very small and growing over time thanks to the hard work and passion of many remarkable team members. The combination of our two companies will honor and build upon this legacy. Bass Pro Shops has every intention of celebrating and growing the Cabela’s brand. We will work hard to foster the qualities that customers love most about both Bass Pro Shops and Cabela’s. The spirit of this agreement is about adding to our great brands and creating increased stability and opportunities for our team members.