b'Whats Inside Taking Bold StepsThe employee-owners of Ulteig were proud to celebrate the companys 75th year in 2019. Although we certainly took time to acknowledge our decades of achievement, our focus was very much on the future and the expected needs of 03 our clients as they navigate new challenges in rapidly evolving markets. Letter from the President Evolving markets require a constant commitment to improve. In 2019, guided by our strategic plan, we took bold steps to better position ourselves to be more effective, innovative and accessible. 04With an eye toward expanding our service capabilities and geographic reach, we acquired Pacific Power Engineers,a well-established and renowned power systems engineering firm in Sacramento, CA. We also opened a new officeListening and Solving in Austin, TX. These new locations provide us with opportunities to introduce our services to new clients andallow us to tap into hubs of highly skilled talent.06Innovation requires focus. And focus is best achieved with resources dedicated to the cause. Our clients rightfully expect us to provide solutions that increase efficiency, offer a novel approach and improve their ability to serve Bold Visions from Our Clientstheir own customers. In 2019, we launched an advanced technology center of excellence designed to identify and commercialize those innovative concepts that could profoundly impact the way we operate in our Lifeline Sectors.As you read through the following pages, you will see the range of contributions we have made in our industry,07 our markets and our communities. Our culture is one that encourages our employee-owners to widely shareInvesting in a Strong Foundationtheir expertise. Whether at the podium of an industry conference, visiting a classroom to encourage interest in the STEM disciplines or participating in a community volunteer activity, we are committed to stronger connectionsand positive outcomes.10All our work in 2019 was accomplished in the context of another year of high-water marks. With record-breaking Net Service Revenue and Orders (36% over the previous year), as well as an employee retention rate of over 90%, our Building a Bold Future 75th year was our finest to date. I am proud of what our dedicated and engaged team accomplished in 2019 to advance our vision to be among 22 the most highly regarded engineering and technical services firms in North America. This cannot happen without maintaining a laser focus on the expectations of our clients. We never forget the responsibility and privilegeProject Profiles it is to serve as a strategic partner and trusted advisor.Best,Doug JaegerPRESIDENT & CEOIn 2019, guided by our strategic plan,we took bold steps to better position ourselvesto be more effective, innovative and accessible.// 2 DOUG JAEGER, PRESIDENT & CEO'