b'PRESIDENTS MESSAGE|GREG YUELExpansion.That was fun.We certainly worked hard forthis year.This year was about integrationand figure out where everyone fits.Now, the past three years for this outcome but Iof what we have, it was all about culture,when unforeseen events surprise us weam grateful for the luck that also graced us. team-building, strategic planning andwill be ready to adapt knowing theThe PIC Group had the best year in companydeveloping excellence.In every companyultimate goal.history by every measure you could throwwe entered the year having investedEverything we did this year is reflective at it. heavily in people.Training and personalof the value PIC is supposed to bring to Panther lead the way in year over yeardevelopment along with hiring the bestour Operating Companies and equity growth percentage again but every PICnew members to our teams.In manyinvestment partners.We connect the dots Group company grew and all maintainedcompanies we made investments in internaland be the anti-Red Tape committee and their margin in an inflationary cycle.Ourprojects and IT.We invested in our facilitieshelp deliver opportunities that take years larger companies including ClearTech,and grew our capital assets and inventoriesto come to fruition so our leaders and their Caron, Panther, CanGas, & Kreos grew byto make an attack on increasing our marketteams can focus on their operation.As a over 20%.As only a few of us old peopleshare.Thanks to our financial partnersFamily Office, we own Operating Companies still recall, inflation makes your top linewho assisted us in building our inventories,and place equity investments. We provide look good and leaves you thinking that youespecially our big overseas purchases thatfinancial services, HR support, M&A search, are doing great, meanwhile your bottomultimately resulted in our success in keepingidentification & closing expertise, payroll line could be getting pulverized by thatour customers in business and attracting& benefits, Board governance & strategic same inflation if your costs exceed yournew customers. planning for our companies. pricing.Our companies stayed on top ofPlans are useless, but planning isTogether, Laurie Dmytryshyn, Craig Bell, this perfectly. indispensable.It will be proven to beTerris Chorney, Hugh MacGowan and I want Our smaller companies and our emerginggreatly important that almost all PIC Groupto help people who enjoy autonomy and leaders showed their skill and earned theircompanies embarked on a campaign tofollow entrepreneurial instincts to grow stripes by keeping a grip on their businessrevise their strategic plan, professionallytheir business and themselves. amid volatility in supply-chain, contractfacilitated and multi-day in creation.The obligations, labour availability and financialdividends for that effort are what will make covenants.They grew but importantly,us look smart ten years from now.Each of they preserved margin and did not let theus know where we are trying to go and we business get away from them. each helped figure out how we are going to get there.The process caused us to share You will see no acquisition announcementsstories, create a vision for the future, find out and no stories of synergies nor of windfallsthe hopes and dreams of our colleagues,GREG YUELPIC GROUP 2022 ANNUAL PROFILE 5'