b'CONTENTS| 2020 Annual ProfilePresidents Message 4Investment Summary 6Equity Investment Companies 7Operating Companies 12ClearTech Industries Inc. 14Caron Transportation Systems 16Panther Industries Ltd. 18CanGas Propane Inc. 20Kreos Aviation Inc. 22Long Lake Insurance24Round Table Management Ltd. 26Adventure Destinations Inc. 28Management Team 30Charitable Contributions 31PIC GROUP 2020 ANNUAL PROFILE 3'