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CHAIRMAN’S WELCOME / CEO’S REPORT

On behalf of the Board of Directors, welcome to the 47th Annual Shareholders Meeting of FGM
Architects Inc. We have had a very good year and I would like to personally thank everyone for their
hard work through a challenging and, at the same time, rewarding year.

Our year in review begins with remembrances of lingering Covid-19 concerns and the uncertainty
brought about with the potential of issuing mandatory Vaccination and Testing Policies for all our
offices, and the confusing direction given by Federal agencies and courts. Happily, that confusion
sorted itself out – just in time
for Russia to invade Ukraine.
The chaos Vladimir Putin
plunged much of the world
into will have lasting effects on
us for the next several years.
And we do not know what
those effects may mean for
FGMA, our people and our
clients. We do know the global
and domestic supply chain
issues have been exacerbated.
Additionally, the infusion of
cash into the economy by
Federal policymakers has had
a large influence on inflation here and abroad. While we do not know how many businesses would
have failed without PPP loans and propped up demand, or if homeowners would have defaulted on
their mortgages without stimulus checks and expanded unemployment insurance, we can say that we
have been a recipient of both the PPP loans and propped up demand. This influx of cash into the
economy has greatly affected our Education, Public Safety and Multifamily practices. And this trend
looks to continue throughout
next year.
With the unemployment rate
close to an all-time low,
retirement age folks leaving
the workforce and slowing
population growth we are
finding it challenging to find
the best candidates to help us
get our work done. And we are
being selective to hire only the
best available candidates. This
has resulted in FGMA
becoming more discriminatory
in selecting our clients, and our
projects. Yes, we are still
winning new work, and yes, we are still taking on more work from existing clients. We are striving to
straddle a delicate balance between too much work and sustaining work to keep everyone busy due to

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