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2013 was another year of heavy investment for Round Table Management. This past year saw a move to diversification which led us to expand our holdings in the United States and British Columbia on top of additional acquisitions to the portfolio in Saskatchewan and Alberta. RTM has expanded into pure investment development and has pushed beyond our traditional markets but we still exist to primarily serve our sister companies and that was the focus for 2013 as every investment that was made was with an eye to securing the future for the PIC Group of Companies. This year will see the completion of the shell of our biggest development to date 220 Wall Street in Saskatoon. This was originally designed to include the new home of PIC Investment Group as well as serve other local office needs but a large international organization leased the entire building leaving PIC and RTM to search for a new home. This is a great problem to have and one that should be solved in early 2014. RTM also worked with Panther Industries on managing their exciting development in the Sturgeon Industrial Park in Alberta. This should be operational in early 2014 and will be a great asset to Panther in helping them meet their growing business needs in Northern Alberta. In the last few years RTM has worked to build a strength in project management and this will continue to benefit all of the PIC companies as well as RTM. It was also the biggest year of expenditures and capital spending and we will see some of that paying off in 2014 and certainly beyond. There are a number of locations where the future real estate needs of sister companies are secured for the next 10 to 20 years. 2013 was a year of ups and downs and victories and defeats and many many unavoidable delays but it certainly was the year of investing for the future. The small team that works at RTM is always focused on uncovering opportunities and dealing with challenges. We have a long way to go to become the company we need to be but 2013 saw our small organization take some big steps towards fulfilling our potential. Craig Bell ROUND TABLE MANAGEMENT ... EVERY INVESTMENT THAT WAS MADE WAS WITH AN EYE TO SECURING THE FUTURE FOR THE PIC GROUP OF COMPANIES. 14