b'A people-focused insurer attunedMany thanks to todays concerns to our talented teamA lot has changed since we founded our first mutual insurance company. But even afterEvery day, thousands of people uphold the mutualist values of Promutuel Insurance, make more than 170 years in the business, we still know how to anticipate the risks that canfair decisions, and work hard to exceed our members expectations. affect our members and our communities. As a damage insurer, Promutuel Insurance is deeply concerned about surging inflation and the rise in major climate-related incidentsThestrengthofourgovernanceliesinourdirectors,whoaretrulycommittedto seen in recent years. Although our organizations results were less affected by naturalrepresenting our members interests in every decision we make as an organization. Your disasters in 2023, we continue to speak out to help people understand the issuesinvolvement in setting strategic directions has been crucial over the past months, and we all face as a society. Our teams use their power to raise community awareness ofI would like to sincerely thank you! environmental, social, and governance issues. Mutual insurance companies continue to make a difference in every region across Qubec by supporting causes, organizations,Equallyremarkableisthecolossalworkourmanagementteamputsintodeploying and events that help create a better world. Thanks to our mutual insurance companiesstrategic initiatives. The skilled and dedicated members of our leadership team confidently commitmentandclosetiestotheircommunities,GroupePromutuelgaveclosetoguide our troops and serve as mentors for the managers of tomorrow. I am proud of the $9.4 millionindonations,sponsorships,anddividendsforpromisingprojectsinouractive contributions you make to the success of Promutuel Insurance.community in 2023. No doubt about it, Promutuel Insurance was THERE!Lastly, I would like to highlight the remarkable work of Groupe Promutuels employeesboth at the Federation and within our mutual insurance companieswho continually provide our members with standout service. We are fortunate to have such talent in our Optimized ranks, and we thank you for choosing Promutuel Insurance to succeed in your career!governanceWe have also worked hard to optimize our corporate governance, drawing on best practices to help us achieve our ambitions. With that in mind, and in view of the growing complexity of integrated risk management and the significant workload already incumbent on the Audit Committee, we decided to redefine its broad responsibilitiesYvan Rose, C.ADM., CIP and delegate some of them to the newly created Risk Management Committee. PresidentAlso, in the interest of sound and prudent management, we brought in a member with specific expertise in information and communications technology to our Board of Directors. This new addition will enhance the skills profile of Groupe Promutuel Board membersandcontributetodiscussionsoninformationtechnologyandemerging technology solutions.We have also bolstered our executive succession program to enable the Board to effectively fulfill its governance role in succession management. Likewise, our team is proud to help young directors make their mark in our organization. With the Young Directors Committee, we foster the continuing professional training of the next generation of directors and listen to the concerns of all our members. In addition, Committee members are given specific mandates to exploit their full potential and maximize their contribution to our Group. rt o Rep l a u n n A 513 2 0 2|$9.4 million indonations, sponsorships,and dividends'