APEX SUPPLEMENTARY PENSION PLAN

Notes to the Financial Statements

Year ended December 31, 2022

5. Pension obligations (continued):

The investment return is net of all investment and administrative expenses.

The changes in actuarial assumptions for the years ended December 31 resulted in the following gains (losses) to the pension obligations:

The Plan's future experience will inevitably differ, perhaps significantly, from these assumptions. Any differences between the actuarial assumptions and future experience will emerge as gains or losses in future valuations and may materially affect the financial position of the Plan. The following sensitivity analysis demonstrates the effects of changes in assumptions on the pension obligations.