b'CONTENTS| 2021 Annual ProfilePresidents Message 4Investment Summary 6Equity Investment Companies 7Operating Companies 12Caron Transportation Systems 14ClearTech Industries Inc. 16Panther Industries Inc. 18CanGas Propane Inc. 20Kreos Aviation Inc. 22Long Lake Insurance24Round Table Management Ltd. 26Adventure Destinations Inc. 28Management Team 30Charitable Donations 31PIC GROUP 2021 ANNUAL PROFILE 3'