A MESSAGE FROM LEADERSHIP OUR

Continued Growth

BARRY HENNINGS President/CEO

All companies must grow to be successful and to provide growth and advancement opportunities for their employees. Our 2022 was a remarkable year for Omega in both revenue growth and employee growth. As we finish the first half of 2023, this year is shaping up to be another banner year for Omega in supporting the growth trend. Some highlights of our continued growth include:

Corporate

• Almost 100% YOY revenue growth in 2022 to $410 million

• 15% growth in employees to 121 full-time employees

• Right-sizing overhead to support growth

• Maintained strong backlog going into 2023

Winston- Salem Office

• Completed 2 expansions for added personnel

• Added 33 new employees In 2022

Savannah office

• Moved into our new office building at 110 Park of Commerce Drive

• Increased backlog

• 16 Savannah office and field employees

Upstate Office

• Opened Upstate office in Greenville under Don Warren’s leadership

• Focus on Design-Build industrial and manufacturing sector

• Moved into 2500-square-foot, renovated office space at 750 Executive Center Drive

• Added in-house BIM capability

• 8 Upstate office and field employees

Omega’s personnel prior to 2015 consisted mostly of legacy Omega employees and approximately fifty former John S. Clark employees. Opening the Savannah and Upstate offices included the addition of employees outside this circle. With these new employees came outside perspectives on operations, policies, and procedures that provided us with an opportunity to reassess and improve. These insights have been positive for Omega’s growth, progression, and strategic planning.

The first quarter of 2023 was a great start to the year with a 94% increase in revenue over the first quarter of 2022. A solid backlog and continuous opportunities in NC, SC, GA, and VA encourage optimism in the short term and support an outlook for a mild recession, especially in our primary markets.

Christopher Chung, CEO of the leading economic development organization in North Carolina, EDPNC, reported to attendees at the recent MFGCON conference in Winston-Salem that his organization was currently competing for 240 potential new and expansion projects in North Carolina with the potential for 89,000 new jobs and $103 billion in capital investments. Christopher also stated that he has not seen evidence of a significant slowdown in project activity yet. Unforeseen conditions could arise that would put a damper on activity, but planning for growth by utilizing the best information available and maintaining a conservative approach should serve us well.

We have been fortunate to add team members who embrace a culture of care, investment, relationships, integrity, and operational excellence. With growth, there is always some risk so it is important for all employees to understand, appreciate, embrace, and practice our Core Values.

We are excited about the Omega team and the opportunities for the future.