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Investor Presentaiton

4 Charlottetown Airport | 2013 Annual Report Greetings from the Chairman of the Board and the Chief Executive Officer Chairman of the Board Letter When most people think about travel they think about sun-filled days at the beach with the family, exploring a new city, or learning about a foreign culture. We all know these soft benefits of travel... we feel them, we experience them, they are tangible. But what many of us don't think about are the economic benefits that travel brings to the broader community. For example, what about a company looking for a new headquarters for their office? They first have to travel to the destination to investigate, explore and assess the skilled workforce before they will relocate. Or what about a local company wanting to export their products or expertise internationally? They first have to travel to be connected conveniently to world markets. Or what about visitors vacationing on the Island? They first have to travel here and with them comes new export dollars for our Island economy. Air travel opens Prince Edward Island to the world, and Charlottetown Airport is the FRONT DOOR to this economic development in our community. Our Authority is proud of the economic benefits the airport brings to the Island, worth more than $90 million annually. Convenience and safety are of utmost importance to our Authority. This is a key reason why we partnered with the City of Charlottetown and the provincial government in the construction of a new roundabout at the main entryway leading to the airport. We would like to thank the City of Charlottetown for leading this project and the Province of Prince Edward Island for their support in improving public safety at this busy intersection. Although we experienced a small decrease in passenger traffic for the first six months of 2013, record-breaking traffic during the busy tourism season from July to September brought us to a total of 296,301 passengers for the year. That almost matches the record setting numbers in 2012. It was with great sadness that PEI's aviation community said goodbye to well-respected aviator, businessman, colleague and friend, Bob Bateman, after a courageous battle with ALS. Bob founded Prince Edward Air in 1989 with one plane and himself as pilot, and grew the business into a significant regional provider of air medical evacuation, courier and air charter services. Bob was an instrumental member of our Authority board for close to six years and contributed greatly to the development of the airport with his expertise and insight. He will be missed. This year marks my retirement as chairman of Charlottetown Airport Authority's board of directors. I've truly enjoyed my time working with the board, management and staff of the Airport Authority as well as the many stakeholders in the broader community, and would like to thank all of you for your support and encouragement over my seven and a half year tenure. Sincerely, отбит David McKenna, Chairman
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