Reflections ... 2020 Closeout

APM Team,

As we close this unprecedented year, we reflect on many things. Together, we have overcome many challenges in 2020, and we should be proud of the effort and results we have delivered. THANK YOU!

We have accomplished some pretty impressive things. Most recently, we were recognized by our shareholder GE for the collective efforts over the past 5 years within the FP&L combined cycle fleet. Together we delivered upgrades on 32 7F units – the new .05 compressor, the DLN 2.6+ combustion system, and the AGP tech upgrade – which delivered 1,050 MW of additional output and 2% heat rate improvement. This new efficiency helped FP&L meet their growing summer load while also retiring older portions of their fleet. AND this allowed FP&L to provide power during peak load times at a more competitive cost, passing the savings onto the ratepayer, i.e., you and I. You can learn more about the FP&L success story here.

“The collaboration between FP&L, GE, FieldCore, APM, and OSS has been amazing in the execution of our field.” Our field team’s focus on safety, quality, and on time delivery exceeded the customer’s expectations. And through pre-job planning and better techniques, we were able to reduce the cycle time and craft load from about 60 days & 50 employees to around 40-45 days and 40 employees, most importantly without compromising our safety and quality.

The FP&L success story is a great example of the value our APM business model brings to our customers. To be able to deliver such results over a 5-year period is impressive – 32 units with over 1K job opportunities and over 800K hours – a testament to the breadth of our field resources and to the depth of our field leadership. And it highlights a successful mental frame for our field teams – it’s not a transactional outage-to-outage mentality; rather it’s a sustainable outage forecast built upon repeatedly delivering successful results on multiple outages in succession. And this leads to a career path that extends the pipeline for resource development and growth. It’s playing the long game.

So THANK YOU to all who made the FP&L upgrades successful. Key superintendents for this project are:

· Project Manager: James Davenport - APM President Award Winner

· Superintendent: Josh Silas - APM President Award Winner

· Superintendent: Morris “Clay” Harrell - APM President Award Winner

· Superintendent: Ed Menees - APM President Award Nominee

· Superintendent: Brent Jordan

· Superintendent: John Davenport

· Superintendent: Tim McDonough

· Superintendent: Juan Mejia

· Superintendent: John “Chad” Palmer

· Superintendent: Reginald Tucker

We aren’t quite done with 2020 yet, so I ask that we remain focused on finishing this year with excellence and setting up 2021 for success. You will hear more from me wrapping up 2020 and looking ahead to 2021 in the coming week.

 – Jake