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ADVANTAGE TOWER LTD. Allison Earl Box 26 2 Alberta Ave. Aldersyde AB T0L 0A0 Advantage Tower is an integrated tower company providing state-of-the-art telecommunication solutions. It provides design implementation construction and maintenance services to the wireless and communications tower industry. CLUBMYNX FITNESS INC. Dawn Wotherspoon 619 1st Ave N Saskatoon SK S7K 2C6 In 2008 PIC entered into an Angel Investment partnership and loan with a young entrepreneur and former PIC Group employee DawnWotherspoon.To date the results have been a testament to both the Angel Investment process and Dawns dedication to the business.This past year was exciting for ClubMynx as Dawn and her team renovated and relocated to a new studio with two gyms allowing for an expansion of its alternative fitness offerings. DEFYRUS Peter Blaney 150 William Street Kingston ON K7L 2C9 Participation with other minority investors under the management of Tancho Innovation Capital provided the opportunity for PIC to participate in technology commercialization. Defyrus is a private life sciences biodefence company that collaborates with domestic and international military R D partners to develop a range of therapeutics as medical countermeasures for civilians and military personnel. The reason PIC Investment Group Inc. negotiates and participates in minority investments is to facilitate entrepreneurship and help existing businesses grow. PIC assesses risk and makes investment decisions based on the criteria listed on our website. Our intention is always to maximize our return either long-term or short-term by bringing some expertise to the business. Our basic underlying motive is a belief that a strong and vibrant economy is constructed by growing one business at a time. The focus of the Portfolio was on maintenance this past year. Two new minority investments were made along with one follow-up investment. From an angel investor perspective this year provided PIC with many important lessons learned. Although there were challenges this past year there were also successes. Several companies in the portfolio experienced significant growth and profitability. The year ahead will be interesting as we determine how to most effectively work with our portfolio companies and assist them in reaching a successful PIC exit. MINORITY INVESTMENT PORTFOLIO 15