2021 Annual Letter

To the Shareholders of Boston Omaha Corporation:

Since present management took over in early 2015, the market value of a share of Boston Omaha stock has grown from $10.00 to $28.73, as of December 31, 2021, a compounded annual increase of approximately 17.6%. That is a return of over 187% on a cumulative basis.

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50

States Providing Surety Bonds

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