Consolidation Model Strictly Confidential

Table of Contents

Summary
Project AC01
Project AC02
Project AC03
Project AC04
Project AC05

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Consolidation Model
Summary Dashboard

Monthly Corporate Earnings (CAD million)

$2.50 $0.90
$0.80
$2.00 $0.70
$0.60
$1.50 $0.50
$1.00 $0.40
$0.30
$0.50 $0.20
$0.10
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Revenue Total Cost Profit

Yearly Project Earnings (CAD million)

$9.00 $3.50
$8.00 $3.00
$7.00
$2.50
$6.00
$5.00 $2.00
$4.00 $1.50
$3.00
$1.00
$2.00
$1.00 $0.50
$- $-
AC01 AC02 AC03 AC04 AC05

Annual Revenue Total Cost Profit

Monthly Corporate Earnings
CAD million January February March April May June July August
Revenue $ 2.21 $ 2.09 $ 2.06 $ 2.22 $ 2.15 $ 2.21 $ 2.11 $ 2.27
Total Cost $ 1.50 $ 1.47 $ 1.42 $ 1.44 $ 1.46 $ 1.49 $ 1.47 $ 1.47
Profit $ 0.71 $ 0.62 $ 0.64 $ 0.78 $ 0.70 $ 0.72 $ 0.64 $ 0.80

Yearly Project Earnings

CAD million AC01 AC02 AC03 AC04 AC05 Total
Annual Revenue $ 4.79 $ 5.38 $ 3.63 $ 4.20 $ 8.10 $ 26.11 Yearly Proje
Total Cost $ 3.33 $ 3.71 $ 2.61 $ 2.99 $ 4.95 $ 17.59 40.0%
Profit $ 1.46 $ 1.67 $ 1.02 $ 1.22 $ 3.15 $ 8.52

36.0%
Yearly Project Profit Margin
CAD million AC01 AC02 AC03 AC04 AC05 Total
32.0%
Profit Margin $ 1.46 $ 1.67 $ 1.02 $ 1.22 $ 3.15 $ 8.52
Profit Margin% 30.5% 31.1% 28.1% 28.9% 38.9% 32.6%
28.0%
Adjusted Margin 30.7% 31.4% 28.4% 28.9% 39.3% 31.3%

Employee Productivity Rate 24.0%

In thousands AC01 AC02 AC03 AC04 AC05 Total

Total Work Hours 849 902 664 843 1,457 4,715 20.0%
AC01 AC02
Billable Hours 766 802 530 766 1,357 4,220
Non-Billble Hour 83 100 135 78 99 495 Profit Margin%
Productivity Rat 90.2% 88.9% 79.7% 90.8% 93.2% 89.5%
 SeptemberOctoberNovember
December FY
$ 2.21 $ 2.24 $ 2.09 $ 2.24 $ 26.11
$ 1.46 $ 1.46 $ 1.45 $ 1.50 $ 17.59
$ 0.75 $ 0.78 $ 0.64 $ 0.74 $ 8.52

Yearly Project Profit Margin

%

%
AC01 AC02 AC03 AC04 AC05

Profit Margin% Adjusted Margin%

Consolidation Model

Projec
CAD$ January February March April
Revenue $ 391,381 $ 368,043 $ 376,297 $ 424,556

Total Cost $ 293,625 $ 278,368 $ 257,899 $ 275,599

Project expenses $ 113,125 $ 109,672 $ 94,435 $ 104,718
Salaries and benefits $ 62,997 $ 66,174 $ 68,787 $ 69,244
Equipment expense $ 11,742 $ 14,209 $ 13,607 $ 11,864
Overhead expenses $ 34,615 $ 21,215 $ 13,025 $ 14,076
Social expenses $ 1,192 $ 1,693 $ 1,537 $ 1,563
Interest expense $ 3,352 $ 3,989 $ 3,806 $ 3,630
Miscellanous expenses $ 7,895 $ 6,210 $ 6,257 $ 6,821
Tax (15%) $ 58,707 $ 55,206 $ 56,445 $ 63,683

Profit Margin $ 97,756 $ 89,675 $ 118,398 $ 148,957

Profit Margin% 24.98% 24.37% 31.46% 35.09%
Adjustment for inflation 0.00% 0.50% 1.50% 2.00%
Adjusted Margin% 24.98% 24.49% 31.94% 35.79%

Total Work Hours 69,117 70,366 73,329 71,176

Billable Hours 62,110 63,522 66,224 64,064
Non-Billble Hours 7,007 6,844 7,105 7,112
Productivity Rate 89.86% 90.27% 90.31% 90.01%
 Project AC01
May June July August September October November
$ 442,703 $ 390,710 $ 351,411 $ 447,309 $ 395,764 $ 420,159 $ 358,216

$ 273,188 $ 282,661 $ 277,260 $ 301,195 $ 274,108 $ 271,900 $ 268,337

$ 87,121 $ 103,872 $ 113,652 $ 116,874 $ 105,600 $ 102,499 $ 98,458
$ 68,246 $ 60,268 $ 68,279 $ 60,677 $ 66,603 $ 62,499 $ 63,132
$ 12,433 $ 12,438 $ 12,334 $ 12,818 $ 13,357 $ 11,998 $ 12,755
$ 26,306 $ 33,301 $ 16,543 $ 32,831 $ 17,152 $ 19,690 $ 27,888
$ 1,458 $ 1,638 $ 1,201 $ 1,547 $ 1,783 $ 1,110 $ 1,858
$ 4,990 $ 4,978 $ 4,885 $ 3,263 $ 4,198 $ 3,415 $ 3,717
$ 6,229 $ 7,559 $ 7,654 $ 6,089 $ 6,050 $ 7,665 $ 6,797
$ 66,405 $ 58,607 $ 52,712 $ 67,096 $ 59,365 $ 63,024 $ 53,732

$ 169,515 $ 108,050 $ 74,151 $ 146,114 $ 121,656 $ 148,259 $ 89,879

38.29% 27.65% 21.10% 32.67% 30.74% 35.29% 25.09%
1.50% 1.00% -0.50% -1.00% 1.00% 1.00% 1.50%
38.87% 27.93% 21.00% 32.34% 31.05% 35.64% 25.47%

71,527 69,106 71,528 69,703 68,413 74,065 72,515

64,495 62,563 64,399 62,954 61,490 67,215 65,458
7,032 6,543 7,129 6,749 6,923 6,850 7,057
90.17% 90.53% 90.03% 90.32% 89.88% 90.75% 90.27%
December FY
$ 421,183 ###

$ 275,500 ###
$ 105,816 ###
$ 68,180 $ 785,086
$ 11,888 $ 151,443
$ 13,928 $ 270,570
$ 1,334 $ 17,914
$ 3,869 $ 48,092
$ 7,308 $ 82,534
$ 63,177 $ 718,160

$ 145,683 ###
34.59% 30.45%
0.50% 0.75%
34.76% 30.68%

67,773 848,618
61,110 765,604
6,663 83,014
90.17% 90.22%
Consolidation Model

Projec
CAD$ January February March April
Revenue $ 464,925 $ 426,299 $ 416,981 $ 470,009

Total Cost $ 322,611 $ 310,903 $ 290,341 $ 302,818

Project expenses $ 133,568 $ 109,547 $ 103,157 $ 122,379
Salaries and benefits $ 67,914 $ 71,841 $ 69,761 $ 66,791
Equipment expense $ 14,328 $ 17,808 $ 17,026 $ 15,033
Overhead expenses $ 23,725 $ 36,092 $ 26,133 $ 15,597
Social expenses $ 1,594 $ 1,353 $ 1,390 $ 1,774
Interest expense $ 4,178 $ 3,629 $ 3,772 $ 3,524
Miscellanous expenses $ 7,565 $ 6,688 $ 6,555 $ 7,219
Tax (15%) $ 69,739 $ 63,945 $ 62,547 $ 70,501

Profit Margin $ 142,314 $ 115,396 $ 126,640 $ 167,191

Profit Margin% 30.61% 27.07% 30.37% 35.57%
Adjustment for inflation -1.00% 1.50% 2.00% 1.00%
Adjusted Margin% 30.30% 27.48% 30.98% 35.93%

Total Work Hours 73,333 75,205 73,398 73,651

Billable Hours 65,245 66,766 65,118 65,442
Non-Billble Hours 8,088 8,439 8,280 8,209
Productivity Rate 88.97% 88.78% 88.72% 88.85%
 Project AC02
May June July August September October November
$ 446,025 $ 421,170 $ 427,452 $ 495,101 $ 474,762 $ 451,667 $ 457,448

$ 300,621 $ 336,068 $ 289,927 $ 299,670 $ 317,139 $ 289,547 $ 329,831

$ 103,666 $ 147,316 $ 100,535 $ 107,507 $ 116,565 $ 106,277 $ 136,682
$ 67,532 $ 68,184 $ 72,356 $ 71,112 $ 69,791 $ 70,269 $ 66,853
$ 16,041 $ 17,449 $ 16,453 $ 15,261 $ 17,847 $ 13,957 $ 13,926
$ 33,164 $ 26,694 $ 23,707 $ 19,271 $ 29,675 $ 18,579 $ 30,149
$ 1,538 $ 1,369 $ 1,431 $ 1,563 $ 1,622 $ 1,464 $ 1,443
$ 3,983 $ 3,999 $ 3,969 $ 3,672 $ 3,799 $ 4,371 $ 4,303
$ 7,793 $ 7,881 $ 7,358 $ 7,019 $ 6,626 $ 6,880 $ 7,858
$ 66,904 $ 63,176 $ 64,118 $ 74,265 $ 71,214 $ 67,750 $ 68,617

$ 145,404 $ 85,103 $ 137,525 $ 195,431 $ 157,623 $ 162,120 $ 127,617

32.60% 20.21% 32.17% 39.47% 33.20% 35.89% 27.90%
0.50% 0.00% 1.50% 1.00% 1.00% 0.50% 2.00%
32.76% 20.21% 32.66% 39.87% 33.53% 36.07% 28.46%

77,854 77,505 74,692 74,248 74,633 76,813 74,051

69,378 69,173 66,394 65,571 66,550 68,175 65,514
8,476 8,332 8,298 8,677 8,083 8,638 8,537
89.11% 89.25% 88.89% 88.31% 89.17% 88.75% 88.47%
December FY
$ 429,409 ###

$ 320,242 ###
$ 135,861 ###
$ 65,968 $ 828,372
$ 17,059 $ 192,188
$ 23,882 $ 306,668
$ 1,624 $ 18,165
$ 3,687 $ 46,886
$ 7,750 $ 87,192
$ 64,411 $ 807,187

$ 109,167 ###
25.42% 31.06%
1.50% 0.96%
25.80% 31.36%

76,699 902,082
68,608 801,934
8,091 100,148
89.45% 88.90%
Consolidation Model

Projec
CAD$ January February March April
Revenue $ 299,506 $ 297,890 $ 313,430 $ 302,427

Total Cost $ 216,571 $ 212,600 $ 229,595 $ 207,447

Project expenses $ 79,421 $ 82,315 $ 85,607 $ 70,178
Salaries and benefits $ 58,385 $ 55,591 $ 62,682 $ 63,895
Equipment expense $ 8,895 $ 9,706 $ 8,615 $ 7,811
Overhead expenses $ 16,023 $ 11,281 $ 16,567 $ 11,991
Social expenses $ 911 $ 1,167 $ 1,253 $ 824
Interest expense $ 3,161 $ 3,311 $ 2,534 $ 2,974
Miscellanous expenses $ 4,849 $ 4,545 $ 5,322 $ 4,410
Tax (15%) $ 44,926 $ 44,684 $ 47,015 $ 45,364

Profit Margin $ 82,935 $ 85,291 $ 83,836 $ 94,980

Profit Margin% 27.69% 28.63% 26.75% 31.41%
Adjustment for inflation 1.00% 2.00% 2.00% 1.50%
Adjusted Margin% 27.97% 29.20% 27.28% 31.88%

Total Work Hours 54,506 58,890 58,212 56,532

Billable Hours 42,594 47,334 47,258 46,298
Non-Billble Hours 11,912 11,556 10,954 10,234
Productivity Rate 78.15% 80.38% 81.18% 81.90%
 Project AC03
May June July August September October November
$ 304,176 $ 303,692 $ 309,592 $ 292,196 $ 306,966 $ 307,254 $ 291,356

$ 234,745 $ 215,399 $ 234,600 $ 209,066 $ 217,090 $ 218,184 $ 204,884

$ 97,321 $ 80,759 $ 97,750 $ 73,871 $ 80,071 $ 78,475 $ 70,804
$ 57,978 $ 59,317 $ 61,166 $ 59,623 $ 55,458 $ 60,999 $ 63,254
$ 8,380 $ 7,670 $ 8,990 $ 8,806 $ 7,361 $ 8,378 $ 8,509
$ 16,723 $ 13,079 $ 10,786 $ 12,952 $ 18,591 $ 15,181 $ 10,025
$ 980 $ 858 $ 1,500 $ 1,291 $ 852 $ 1,413 $ 1,121
$ 2,511 $ 3,441 $ 3,155 $ 3,484 $ 3,465 $ 2,939 $ 2,905
$ 5,226 $ 4,721 $ 4,814 $ 5,210 $ 5,247 $ 4,711 $ 4,563
$ 45,626 $ 45,554 $ 46,439 $ 43,829 $ 46,045 $ 46,088 $ 43,703

$ 69,431 $ 88,293 $ 74,992 $ 83,130 $ 89,876 $ 89,070 $ 86,472

22.83% 29.07% 24.22% 28.45% 29.28% 28.99% 29.68%
0.50% 0.00% 1.00% 2.00% 1.50% 0.50% 1.50%
22.94% 29.07% 24.47% 29.02% 29.72% 29.13% 30.12%

59,749 52,768 51,623 56,333 50,607 52,672 58,597

48,261 41,622 40,749 44,437 40,023 41,754 47,012
11,488 11,146 10,874 11,896 10,584 10,918 11,585
80.77% 78.88% 78.94% 78.88% 79.09% 79.27% 80.23%
December FY
$ 305,797 ###

$ 214,110 ###
$ 80,713 $ 977,285
$ 60,243 $ 718,591
$ 7,596 $ 100,717
$ 11,884 $ 165,083
$ 840 $ 13,010
$ 2,644 $ 36,524
$ 4,320 $ 57,938
$ 45,870 $ 545,142

$ 91,687 ###
29.98% 28.07%
2.00% 1.29%
30.58% 28.43%

54,002 664,491
42,227 529,569
11,775 134,922
78.20% 79.70%
Consolidation Model
Projec
CAD$ January February March April
Revenue $ 357,433 $ 330,303 $ 345,452 $ 347,982

Total Cost $ 253,630 $ 241,495 $ 241,474 $ 251,004

Project expenses $ 96,792 $ 93,220 $ 81,935 $ 87,615
Salaries and benefits $ 58,560 $ 56,273 $ 57,613 $ 63,082
Equipment expense $ 11,850 $ 10,466 $ 10,586 $ 9,994
Overhead expenses $ 20,779 $ 20,470 $ 27,058 $ 25,218
Social expenses $ 1,310 $ 1,001 $ 1,267 $ 1,132
Interest expense $ 4,262 $ 4,344 $ 4,174 $ 4,277
Miscellanous expenses $ 6,462 $ 6,176 $ 7,023 $ 7,489
Tax (15%) $ 53,615 $ 49,545 $ 51,818 $ 52,197

Profit Margin $ 103,803 $ 88,808 $ 103,978 $ 96,978

Profit Margin% 29.04% 26.89% 30.10% 27.87%
Adjustment for inflation -1.50% -1.00% 0.00% 1.00%
Adjusted Margin% 28.61% 26.62% 30.10% 28.15%

Total Work Hours 68,692 70,094 72,439 70,475

Billable Hours 62,110 63,522 66,224 64,064
Non-Billble Hours 6,582 6,572 6,215 6,411
Productivity Rate 90.42% 90.62% 91.42% 90.90%
 Project AC04
May June July August September October November
$ 353,660 $ 366,949 $ 366,785 $ 327,271 $ 367,518 $ 337,995 $ 341,655

$ 243,721 $ 250,169 $ 253,862 $ 244,719 $ 253,667 $ 256,365 $ 238,598

$ 84,074 $ 90,343 $ 91,224 $ 87,982 $ 92,069 $ 96,811 $ 87,163
$ 59,863 $ 56,167 $ 57,649 $ 59,068 $ 62,539 $ 57,645 $ 55,046
$ 12,593 $ 9,153 $ 12,295 $ 12,105 $ 9,406 $ 12,746 $ 11,999
$ 21,914 $ 26,491 $ 25,987 $ 23,701 $ 23,410 $ 26,533 $ 20,775
$ 1,387 $ 1,299 $ 1,086 $ 1,190 $ 1,303 $ 1,297 $ 1,304
$ 4,156 $ 4,452 $ 4,328 $ 4,496 $ 3,623 $ 3,728 $ 4,011
$ 6,685 $ 7,222 $ 6,275 $ 7,086 $ 6,189 $ 6,906 $ 7,052
$ 53,049 $ 55,042 $ 55,018 $ 49,091 $ 55,128 $ 50,699 $ 51,248

$ 109,939 $ 116,780 $ 112,923 $ 82,552 $ 113,851 $ 81,630 $ 103,057

31.09% 31.82% 30.79% 25.22% 30.98% 24.15% 30.16%
1.50% 0.00% -0.50% -1.00% -1.00% -0.50% 0.00%
31.55% 31.82% 30.63% 24.97% 30.67% 24.03% 30.16%

70,892 68,962 70,631 69,351 68,045 73,923 72,043

64,495 62,563 64,399 62,954 61,490 67,215 65,458
6,397 6,399 6,232 6,397 6,555 6,708 6,585
90.98% 90.72% 91.18% 90.78% 90.37% 90.93% 90.86%
December FY
$ 360,085 ###

$ 258,772 ###
$ 98,288 ###
$ 58,629 $ 702,134
$ 10,508 $ 133,701
$ 25,673 $ 288,009
$ 1,143 $ 14,719
$ 3,758 $ 49,609
$ 6,760 $ 81,325
$ 54,013 $ 630,463

$ 101,313 ###
28.14% 28.92%
0.50% -0.21%
28.28% 28.86%

67,687 843,234
61,110 765,604
6,577 77,630
90.28% 90.79%
Consolidation Model
Projec
CAD$ January February March April
Revenue $ 698,233 $ 667,957 $ 606,298 $ 675,396

Total Cost $ 416,664 $ 424,258 $ 397,515 $ 406,451

Project expenses $ 179,433 $ 188,338 $ 170,883 $ 171,828
Salaries and benefits $ 72,867 $ 72,989 $ 74,819 $ 71,431
Equipment expense $ 18,696 $ 19,972 $ 19,194 $ 15,696
Overhead expenses $ 25,453 $ 28,037 $ 27,712 $ 30,618
Social expenses $ 2,839 $ 3,066 $ 2,166 $ 2,574
Interest expense $ 5,212 $ 4,252 $ 4,430 $ 5,141
Miscellanous expenses $ 7,429 $ 7,410 $ 7,366 $ 7,854
Tax (15%) $ 104,735 $ 100,194 $ 90,945 $ 101,309

Profit Margin $ 281,569 $ 243,699 $ 208,783 $ 268,945

Profit Margin% 40.33% 36.48% 34.44% 39.82%
Adjustment for inflation -1.00% 1.50% 2.00% 1.00%
Adjusted Margin% 39.92% 37.03% 35.12% 40.22%

Total Work Hours 114,977 131,260 118,776 124,124

Billable Hours 106,713 122,939 110,519 115,876
Non-Billble Hours 8,264 8,321 8,257 8,248
Productivity Rate 92.81% 93.66% 93.05% 93.36%
 Project AC05
May June July August September October November
$ 606,969 $ 727,529 $ 651,327 $ 708,977 $ 665,760 $ 726,157 $ 644,356

$ 405,918 $ 409,952 $ 415,192 $ 414,601 $ 402,761 $ 423,332 $ 406,848

$ 179,579 $ 170,448 $ 183,790 $ 173,867 $ 171,415 $ 185,611 $ 178,150
$ 71,809 $ 71,203 $ 70,132 $ 71,844 $ 71,966 $ 70,680 $ 71,582
$ 16,933 $ 18,784 $ 18,411 $ 17,749 $ 19,330 $ 16,310 $ 19,304
$ 31,412 $ 25,682 $ 31,892 $ 29,505 $ 25,274 $ 26,952 $ 26,425
$ 2,996 $ 2,655 $ 2,016 $ 2,334 $ 2,256 $ 2,546 $ 2,083
$ 4,996 $ 4,064 $ 4,072 $ 5,077 $ 4,856 $ 4,611 $ 4,842
$ 7,148 $ 7,987 $ 7,180 $ 7,878 $ 7,800 $ 7,698 $ 7,809
$ 91,045 $ 109,129 $ 97,699 $ 106,347 $ 99,864 $ 108,924 $ 96,653

$ 201,051 $ 317,577 $ 236,135 $ 294,376 $ 262,999 $ 302,825 $ 237,508

33.12% 43.65% 36.25% 41.52% 39.50% 41.70% 36.86%
0.50% 0.00% 1.50% 1.00% 1.00% 0.50% 2.00%
33.29% 43.65% 36.80% 41.94% 39.90% 41.91% 37.60%

108,724 108,523 121,755 121,048 112,028 133,737 136,355

100,552 100,302 113,492 112,840 103,838 125,340 127,949
8,172 8,221 8,263 8,208 8,190 8,397 8,406
92.48% 92.42% 93.21% 93.22% 92.69% 93.72% 93.84%
December FY
$ 723,295 ###

$ 428,308 ###
$ 186,537 ###
$ 73,723 $ 865,045
$ 15,500 $ 215,879
$ 29,286 $ 338,248
$ 2,875 $ 30,406
$ 4,791 $ 56,344
$ 7,102 $ 90,661
$ 108,494 ###

$ 294,987 ###
40.78% 38.88%
1.50% 0.96%
41.40% 39.26%

125,375 1,456,682
117,129 1,357,489
8,246 99,193
93.42% 93.19%