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ESOP Education Series BACK TO MAIN Who Does What in an ESOP Company? ESOP companies have more moving parts than other companies. Like all companies, they need a board of directors and managers , but they also need a plan trustee to make sure the plan is operated for the interests of plan participants to act as the shareholder of record, and a plan administrator to make sure the plan runs properly. Some companies also have ESOP Communications committees (that's us!) What are the Rules for ESOP Distributions? According to the National Center of Employee Ownership , an employee can receive distributions from the ESOP after employment terminates. Distributions are normally paid out as either a lump sum or annual distributions that span up to five years. Distributions resulting from reaching the plan retirement age, death or disability will start the next year. Distributions resulting from employment termination must begin within six years following job termination. Vesting determines how much the employee is eligible to receive. For example, if a fully vested employee reaches 65 and retires in 2022, their distributions will begin in 2023 and must be fully paid no later than 2028. What are the Rules for ESOP Distributions? According to the National Center of Employee Ownership , an employee can receive distributions from the ESOP after employment terminates. Distributions are normally paid out as either a lump sum or annual distributions that span up to five years. Distributions resulting from reaching the plan retirement age, death or disability will start the next year. Distributions resulting from employment termination must begin within six years following job termination. Vesting determines how much the employee is eligible to receive. For example, if a fully vested employee reaches 65 and retires in 2022, their distributions will begin in 2023 and must be fully paid no later than 2028. What are the Rules for ESOP Distributions? According to the National Center of Employee Ownership , an employee can receive distributions from the ESOP after employment terminates. Distributions are normally paid out as either a lump sum or annual distributions that span up to five years. Distributions resulting from reaching the plan retirement age, death or disability will start the next year. Distributions resulting from employment termination must begin within six years following job termination. Vesting determines how much the employee is eligible to receive. For example, if a fully vested employee reaches 65 and retires in 2022, their distributions will begin in 2023 and must be fully paid no later than 2028. What are the Rules for ESOP Distributions? According to the National Center of Employee Ownership , an employee can receive distributions from the ESOP after employment terminates. Distributions are normally paid out as either a lump sum or annual distributions that span up to five years. Distributions resulting from reaching the plan retirement age, death or disability will start the next year. Distributions resulting from employment termination must begin within six years following job termination. Vesting determines how much the employee is eligible to receive. For example, if a fully vested employee reaches 65 and retires in 2022, their distributions will begin in 2023 and must be fully paid no later than 2028. What are the Rules for ESOP Distributions? According to the National Center of Employee Ownership , an employee can receive distributions from the ESOP after employment terminates. Distributions are normally paid out as either a lump sum or annual distributions that span up to five years. Distributions resulting from reaching the plan retirement age, death or disability will start the next year. Distributions resulting from employment termination must begin within six years following job termination. Vesting determines how much the employee is eligible to receive. For example, if a fully vested employee reaches 65 and retires in 2022, their distributions will begin in 2023 and must be fully paid no later than 2028. BACK TO MAIN

BACK TO MAIN Mid Year Letter from Champ Greetings, Team! Man, it’s summer! Let's start with a huge congratulations on reaching 1 million hours without a lost-time work injury. This is a first in our 75-year history, and it's all thanks to your dedication to safety. This incredible milestone also brought us a $30,000 savings on our Workers' Compensation renewal, which benefits everyone! On a serious note, our streak did end with a recent incident where one of our own fell off a ladder and was seriously injured. Thankfully, they are at home recovering and are expected to return to work soon. Let's continue to prioritize safety and look out for each other. Business is Booming! All parts of our business are doing well, and the outlook for 2024 and 2025 is very strong. Our engineering team is showcasing their expertise across the country, with impressive BIM modeling and intelligent design. In Charlotte and Raleigh, our Construction, Service, and Controls teams are maintaining a strong backlog and are already eyeing opportunities for 2025! Our ESOP is Growing Our Employee Stock Ownership Plan (ESOP) is thriving, and I'm confident you'll be pleased with last year's results. While we can't guarantee these results every year, your hard work and commitment to safety make a huge difference. Being 100% employee-owned is the best path for our long-term growth and your future retirement benefits. Keep an eye on your mail for your ESOP statement! Exciting News about 401k Matching in 2025! We've introduced "Safe Harbor," our new 401k matching program, designed to help you save more for retirement. Here’s how it works: For Safe Harbor: Employee Contribution (0.01% - 5%): MCI will match 100% up to 3% of your contribution. MCI will match 50% on the next 2% of your contribution. Employee Contribution (5% or Greater): MCI will match 4% of your gross compensation. The total company match can't exceed 4% of your gross compensation. This is a fantastic opportunity to boost your retirement savings! As we move forward, let's stay focused on our tasks, prioritize safety, and continue supporting each other. Let's get back to work and keep up the great momentum! Best, Champ Bill Champion in his "Uncle Sam" getup is always great for July!

BACK TO MAIN Meet the ComCom 2024-2025 We're excited to introduce your new Communications Committee for 2024. This dedicated team will serve as your voice and represent all employees until January 31, 2025. What is the role of the Communications Committee? The ESOP Communications Committee plays a pivotal role in bridging the gap between employee ownership and our team. Their mission is to enhance our understanding and commitment to the ESOP by: Crafting and sharing essential ESOP-related materials. Engaging with employees to foster a deeper connection within our ESOP. Organizing events and initiatives that promote and enrich MCI's culture of ownership. Should you have any inquiries, feedback, or thoughts regarding ESOP matters, please feel free to approach the committee. Your input is invaluable. Representing Charlotte Office Keith Stanis - Committee Chair kstanis@mcihvac.com Representing the MCI Raleigh Team Daniel Smith dsmith@mcihvac.com Representing the MCI Startup Team Justin Rosmon jrosmon@mcihvac.com Representing the MCI Charlotte Large Construction Field Jonathan Werner jwerner@mcihvac.com Representing the MCI Charlotte Upfit Field Team Miguel De Dios mdedios@mcihvac.com Representing the MCI Fabrication & Warehouse Teams Taylor Furr tfurr@mcihvac.com Representing the MCI Service Office Emily Burns eburns@mcihvac.com Representing the MCI Charlotte Service Tech Team Andrew Mullis amullis@mcihvac.com Representing the MCI Controls Team Bob Stevens bstevens@mcihvac.com Representing Gamut Katrina Ramey kramey@gamutss.com Creative Liaison/Newsletter Editor Lacey Knapp lknapp@mcihvac.com