Message From
The Chair

Message From The Chair

March 30, 2026

To My Fellow Shareholders,

In my message to shareholders last year, I referenced tariffs and the pending
“trade wars” believing that the world was changing and that we needed to
prepare and buckle up. Little did I, or others for that matter, believe that there
would be an escalation in “real wars”, but here we are at the precipice of the
emergence of major conflicts. Welcome to 2026! The world is divided and with
this there are no rules, no stability and certainly no harmony. This year I will
limit my comments to the issues I believe will influence our strategic thinking
as well as impact shareholders.

FULL MESSAGE: View the PDF

Sincerely,

Signed: “Murray Mullen”
Chair and Senior Executive Officer