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W.T. Rich Team:

It is with great excitement that I introduce our first ever, official company
newsletter. Inside you will find information about the company and our
employees. As we continue to grow and evolve as an organization, it is important
that we stay connected with each other and have the opportunity to understand
and appreciate some of the broader news and events going on within the firm.

2019 was a great year for W.T. Rich Company. We had four very important
school projects that needed to be completed over the summer of 2019 for the
doors to open in the fall: Cabot Elementary School in Newton, Pine Grove
Elementary School in Rowley, KIPP Wheeler Charter School in Lynn, and
King Open School in Cambridge. Each project faced its fair share of hurdles,
and each project team persevered in the face of those challenges. The end result
was that each school opened on time and earned the praise and accolades of the
owner and the communities which they served.

We also had several projects underway or in the preconstruction phase during
2019. These included the MBTA Iron Horse project in Billerica, Manchester
Memorial Elementary School, Foundry Building in Cambridge, Excel
Academy Bremen Middle School in East Boston, Smith Elementary School
in Danvers, Beverly Police Station, Pentucket Regional Middle High School
in West Newbury and Tobin Vassal Lane Upper School in Cambridge. We
recently added to that list by receiving an award for Cape Cod Community
College’s new science and engineering building. We also have a joint venture
underway at Worcester South Community High School. That all adds up to a
current backlog of just under $600 million! Next fiscal year (2021) is currently
projected to be $193 million in revenue.

Kudos to the entire W.T. Rich team. It is because of your great efforts and
contributions that we have been able to achieve this level of success. Through
a combination of great project outcomes, outstanding client references and an
amazing marketing department, we have been able to successfully win eight
of the last thirteen CM at Risk projects we pursued (61%). To put that into
context, I have talked to other CM’s, who have said they are thrilled to be able
to achieve a 20% success rate.

So, to sum up, our future looks very bright. I am extremely proud and grate-
ful to have all of you be part of the team that has made this success possible.

One of the things important to the success of W.T. Rich Company has been our
commitment to maintain the feel of a smaller, family-run business while at the
same time building an efficient, high performing and professional organization.
I hope this newsletter is able to contribute to that sense of family and connection.

Thank you to each and every one of you for your efforts! Enjoy the newsletter!

Jonathan Rich
Chief Executive Officer

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