TO OUR SHAREHOLDERS:
Callaway Golf Company's leadership is committed to satisfying the highest standards of corporate integrity. Our founder, Ely Callaway, always said, "Good ethics is good business." We agree with that pronouncement, and so does each and every member of our Board of Directors. We are proud of the ethical way in which the business has been managed in the past, and are dedicated to continuing that fine tradition in the future.
We welcome input from shareholders on issues of interest, including topics related to corporate governance. If you have any such questions or comments, please send them to Callaway Golf Company, Attention: Corporate Secretary, 2180 Rutherford Road, Carlsbad, California 92008-7328, or send an email to firstname.lastname@example.org.
Ronald S. Beard
Chairman of the Board