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2011 Annual Report 1 HISTORY OF PIC In 1976 Prairie Industrial Chemicals Ltd. opened its doors. It was a start-up chemical distribution company with one supplier and four available products. The founders grew the business by being open for business twenty-four hours per day and seven days per week all year round. They understood their customers needs often before the customer identified the need on their own. Just four years later the company had annual sales in excess of 5 million and established branch offices and warehouses across the prairie provinces. By its fifteenth year combined sales surpassed 26 million dollars annually and the company had diversified into chemical packaging chemical manufacturing transportation importexport and property management. With a view to future growth through delegation and acquisition it underwent a major reorganisation. Separate companies were formed each with its own core business. Ownership remained with Prairie Industrial Chemicals but the name changed to more accurately reflect a broader corporate mandate. Today PIC Investment Group Inc is a diversified holding company that uses venture capital investment and provides hands-on management in order to grow. Through a set of investments including joint ventures wholly- owned partially-owned Operating Companies loans bridge financing and minority investments we provide service and support to all of the companies we invest in. We look for every opportunity to find synergy facilitate acquisitions and finance internal growth within existing companies. Analysis of new opportunities compares the return on investment against our best alternative for creating lift during the period of time we hold the investment. We seek to maximise lift by predicting our partners needs and help keep their business safe from the unexpected.