NASDAQ: JCTC

Introduction

Jewett-Cameron Trading Company Ltd. is organized
under the laws of British Columbia, Canada. In this Annual Report, the “Company”, “Jewett-Cameron”, “we”,
“our” and “us” refer to Jewett-Cameron Trading Company Ltd. and its subsidiaries as applicable.

Our operations are classified into three reportable
operating segments and the parent corporate and administrative segment, which were determined based on the nature of the products we
offer along with the markets being served. Consistent with our operational structure, our Chief Executive Officer (CEO), as the chief
operating decision maker, manages our business based on segment financial information for purposes of evaluating performance, allocating
resources, setting incentive compensation targets, as well as internal forecasting of future period financial results. Our segments are
as follows:

· Pet,
Fencing and Other

· Industrial
wood products

· Seed
processing and sales

· Corporate
and administrative services

Total Company sales were $41.3 million and $47.1
million during fiscal years ended August 31, 2025 and 2024, respectively. Sales, income before taxes, assets, depreciation and amortization,
capital expenditures, and interest expense by segment are shown in the financial statements under Note 11 “Segment Information.”

Our principal office is located at 32275 NW Hillcrest
Street, North Plains, Oregon; and our website address is www.jewettcameron.com. Our primary mailing address is P.O. Box 1010,
North Plains, OR 97133. Our phone number is (503) 647-0110. The contents of our website or any other website are not incorporated by
reference into this Annual Report.

We file reports and other information with the
Securities and Exchange Commission located at 100 F Street NE, Washington, D.C. 20549. Copies of these filings may be accessed through
their website at www.sec.gov. Reports are also filed under Canadian regulatory requirements on SEDAR, and these reports may be
accessed at www.sedar.com.

The contact person for the Company is Chad Summers,
President and CEO.

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Our authorized capital includes 21,567,564 common
shares without par value; and 10,000,000 preferred shares without par value. As of August 31, 2025 and December 1, 2025, there were 3,518,119
common shares outstanding. Our common shares are listed on the NASDAQ Capital Market in the United States with the symbol “JCTC”.

Our fiscal year ends on August 31st.

General Development of Business

Incorporation and Subsidiaries

Jewett-Cameron Trading Company Ltd. was incorporated
under the Company Act of British Columbia on July 8, 1987 as a holding company for Jewett-Cameron Lumber Corporation (“JCLC”),
which was incorporated in September 1953 in Oregon, USA. Jewett-Cameron Trading Company, Ltd. acquired all the shares of JCLC through
a stock-for-stock exchange on July 13, 1987, and at that time JCLC became a wholly owned subsidiary. Effective September 1, 2013, the
Company completed a reorganization of certain of its subsidiaries and JCLC’s name was changed to JC USA Inc. (“JC USA”).
JC USA has the following wholly owned subsidiaries incorporated under the laws of the State of Oregon: Jewett-Cameron Seed Company, (“JCSC”),
incorporated in October 2000, Greenwood Products, Inc. (“Greenwood”), incorporated in February 2002, and Jewett-Cameron Company
(“JCC”) incorporated in September 2013. Jewett-Cameron Trading Company, Ltd. and its subsidiaries have no significant assets
in Canada.

Corporate Development

Incorporated in 1953, JC USA initially operated
as a small lumber wholesaler based in Portland, Oregon. In September 1984, the original stockholders sold their interest in the corporation
to a new group of investors. Two members of that group remained active in the Company. These individuals are Donald Boone, who passed
away in May 2019, and who was the previous Chairman and the former President, Chief Executive Officer, Treasurer, and Principal Financial
Officer, transitioning to strictly the Board Chair in 2017; and Michael Nasser, who retired from day-to-day involvement in the business
in December 2022, but remained engaged as a director until October 2023.

In 1987, we acquired JC USA and began to diversify
into products beyond lumber trading. Lucky Dog® was acquired in 1995 and Adjust-A-Gate® was acquired in 2003.

In 2000, we acquired the operations and property
that became our JCSC seed division.

In 2002, Greenwood acquired the business and
certain assets of Greenwood Forest Products Inc., a company involved in the processing and distribution of specialty wood products.

In April 2023, as a result of lower quantities
of seed for processing, and the demand for its marketing and sales services declining against rising costs, the Board of Directors decided
to close the JCSC seed division. JCSC’s facilities and equipment were near the end of the expected useful life and would have required
significant capital investment to remain operating. Regular operations at JCSC ended effective August 31, 2023, but some seed storage
operations continued through July 2024 in order to provide customers time to obtain alternative storage arrangements. The entire seed
inventory was sold in early October 2023. Some of the JCSC personnel were moved to different positions within the Company as management
has prioritized career development and retention whenever possible.

In September 2024, we announced the successful
conclusion of an 18-month search, evaluation, and onboarding process establishing new suppliers. We have historically sourced the majority
of our metal products from a single factory in China. Under our new strategic sourcing program, we now have suppliers located in Bangladesh
and Vietnam in addition to our original source in China. The products from our new suppliers meet our quality standards with competitive
pricing, but also mitigate to some extent the current 85% tariff rates as of November 10, 2025 from China placed on various Chinese made
steel products imported into the United States.

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Narrative Description of Business

We are committed to improving the lives of professionals
and do-it-yourselfers with innovative products that enrich outdoor spaces in their quality, performance, and ease to work with.

The Company’s operations are classified
into four segments: Pet, Fencing and Other; Industrial wood products; Seed processing and sales; and corporate and administrative services.

Pet, Fencing and Other Operating Segment

We have concentrated on building a customer base
for lawn, garden, and pet related products. Fencing is our largest component of this segment. The home improvement business is seasonal,
with higher levels of sales occurring between February and August. Inventory buildup occurs until the start of the season in February
and then gradually declines to seasonal low levels at the end of the summer.

Our wood products, distributed through JCC, are
not unique and are available from multiple suppliers and retail outlets. However, the metal products that JCC manufactures and distributes
may be somewhat differentiated from similar products available from other suppliers. We have been successful in garnering key patents
and trademarks on multiple products that assist their ability to continue to differentiate based on design and functionality.

We own the patents and manufacturing rights connected
with the Adjust-A-Gate® and Fit-Right™ products, which are the gate support systems for wood, vinyl, chain link, and composite
fences, in addition to our trade secret industry practices and well-known trademarked brands. We believe the ownership of these patents
and trademarks is an important competitive advantage for these and certain other products. We completed our purchase of the full global
trademark rights for Adjust-A-Gate® and filed its registration with the US Patent and Trademark Office in February 2023. As of the
close of fiscal 2025, the Company owns 7 US Patents and 1 patent application pending in the US, CA, and MX pertaining to its fencing
products.

Backlog orders have typically not been a factor
in this business as customers may place firm priced orders for products for shipments to take place three to four months in the future
which gives us time to order, manufacture and receive the goods at our warehouse in time to fulfil the customer’s order.

Industrial Wood Products - Greenwood

Greenwood is a wholesale distributor of a variety
of specialty wood products. Current products are focused on the transportation industry. Greenwood’s total sales for fiscal 2025
and 2024 were 9% and 8%, respectively, of total Company sales.

The primary market in which Greenwood competes
has decreased in economic sensitivity as users are incorporating products into the municipal and mass transit transportation sectors.
However, these markets sustained some contractions in recent years due to COVID-19 as work shifted from offices to homes, and many individuals
utilized public transit less due to concerns over exposure. In addition, this segment is prone to disruption of supply chain support
which can impact other commodities outside of those specific to the disruption.

Greenwood utilizes contract manufacturers to
supply its products. Inventory is maintained at non-owned warehouses and wood treating facilities throughout the United States and is
primarily shipped to customers on a just-in-time basis. Inventory is generally not purchased on a speculative basis in anticipation of
price changes as we order the products from the manufacturers and warehouses once a customer places an order with us.

Greenwood has no significant backlog of orders.

Seed Processing and Sales - JCSC

JCSC operated out of a Company-owned 11.6 acre
facility located adjacent to North Plains, Oregon. JCSC processed and distributed agricultural seed. Most of this segment’s sales
came from selling seed to distributors with a lesser amount of sales derived from cleaning seed.

We ended regular operations at JCSC effective
August 31, 2023 and have sold all of our remaining seed inventory. Seed storage operations continued through July 2024.

We have listed the JCSC property for sale or
lease. The surplus property consists of 11.6 acres of land and 109,500 square feet of buildings. One of the buildings is specialized
for the seed industry, while most are metal warehouse buildings with power, allowing a wide array of possible uses. The property is currently
zoned “Rural Industrial” (RIND), which allows for use of the existing property, or development of the site, as approved by
Washington County. While the original listed sale price of the property was based on both the perceived value of the property and the
potential for a rezoning of the property for higher value uses, over the last year, the local economy has weakened and lessened the short-term
needs for the local municipalities to create new housing and industrial land. Therefore, we relisted the property at a reduced listing
price of $7.223 million. This is the current asking price, and there is no guarantee the property will sell for this amount, if at all.
If we are able to complete a sale, the net proceeds will be reduced by brokers’ commissions, expenses related to the sale, and
taxes.

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Corporate and Administrative Services –
JC USA

JC USA is the parent company for Greenwood, JCC
and JCSC as described above. JC USA operates out of our offices in North Plains, Oregon and provides professional and administrative
services, including warehousing, accounting and credit services, to JCTC’s subsidiary companies.

Company Products

The Company’s mission is to improve the
lives of professionals and do-it-yourselfers with innovative products that enrich outdoor spaces. We design, source, commercialize and
distribute our products. Many are patent protected and all are well crafted for their quality, performance, and ease to work with.

The Fencing, Pet and Sustainable Product businesses
are conducted by JCC, which operates out of a 5.6 acre owned facility located in North Plains, Oregon that includes offices, a warehouse,
and a paved yard. JCC uses contract manufacturers to make all products. Some of the products that JCC distributes flow through our distribution
center located in North Plains, Oregon, and some are shipped direct to the customer from the manufacturer. Primary customers are home
centers, eCommerce providers, other retailers, and direct sales to consumers.

The Industrial Wood Products segment is conducted
by Greenwood, a processor and distributor that operates out of the same facilities in North Plains, Oregon. Greenwood contracts with
custom manufacturers for its products. Inventory is maintained at non-owned warehouses and wood treating facilities throughout the United
States and is primarily shipped to customers on a just-in-time basis.

Fencing Products

Fencing represents our largest product line.
Our fencing business crafts durable, functional fencing solutions that bolster security, privacy, and beauty. Our primary products include:

· The
Adjust-A-Gate® family of products are straightforward, lifelong solutions that eliminates
measurement issues. Complete steel frame gate kits to perfectly fit openings for wood
fences and never sag. Easy enough for homeowners, but with superior quality that meets
the demands of the professional contractor.

· Fit-Right®
is a fully adjustable gate system for chain link gates. This custom solution is perfect for
when a special sized chain link gate opening is needed. Equipped with all the necessary parts,
building a gate on-site eliminates measurement issues for the right fit the first time and
every time.

· Lifetime
Steel Post® offers unmatched strength and versatility in fencing. This post offers versatile
support for a range of fence designs and styles, allowing flexibility to showcase the posts
or keep them discreetly hidden.

· Euro
Fence offers the beauty of wood without the upkeep, featuring durable wood/plastic composite
materials. With locking tongue & groove composite and aluminum boards, it provides UV
protection, never needs paint or stain, and installs easily in-ground or mounted.

· Perimeter
Patrol® Portable Security Panels create an enclosed space or linear fence for outdoor
areas. Perfect for crowd control, job site security, outdoor events, enclosed storage areas
and more.

· Cedar
fencing is a premium softwood known for its unique blend of beauty and durability. Its natural
resistance to decay enhances its longevity, while its ease of cutting, sawing, and nailing
with standard tools makes it a preferred choice for versatile applications.

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Pet Products

Our Lucky Dog® brand is dedicated to keeping
pets safe and happy with exceptional quality, long-lasting products that put your pet first. Our primary pet products are:

· Lucky
Dog® STAY Series Studio Kennels built with long-lasting steel frames and powder coated
finish. The waterproof polyester cover offers UPF 50+ protection and is designed for ultimate
comfort.

· Lucky
Dog® Outdoor Kennel Covers provide durable, waterproof protection with UPF 50+ sun defense.
Designed for year-round comfort, they fit securely over Lucky Dog® Kennels.

· Lucky
Dog® Dwell Series® Crates offers peace of mind with secure latches, rust-resistant
E-coating along with a patented sliding side door and patented corner stabilizers. With a
top handle for easy transport and a divider panel for flexible space, they offer durability
and convenience.

· Lucky
Dog® Exercise Pens provide a secure space for pets with sturdy, rust-resistant wire
construction. Featuring a step-thru door, tool-free setup, and fold-flat design for easy
storage, these pens are perfect for both indoor and outdoor use.

Sustainable Products

Our Sustainable and Post-Consumer Recycled (“PCR”)
bag products are sold under the MyEcoWorld® brand. It is making a tangible, positive difference to the planet by working to reduce
conventional single-use plastic in our daily lives.

We offer two types of bag products. The Compostable
bags are made with 30% corn. The PCR Products are certified to the Global Recycled Standard (GRS) to contain recycled material that has
been independently verified at each stage of the supply chain, from the source to the final product, and cost less than compostable bags.

Our primary Sustainable Products are:

· Food
Waste Bags that are certified compostable and worm-safe. These durable bags offer puncture
resistance, odor control, and pest deterrence, ensuring reliable use and a cleaner kitchen
environment.

· Yard
Waste Bags that are suitable for a variety of composting methods, including home, curbside
pickup, and industrial composting facilities.

· Pet
Poop Bags that ensure no breaks or leaks while keeping the user’s hands clean.

Industrial Wood Products

Greenwood Products specializes in engineering
advanced noise and vibration reduction panels for transit buses, motor coaches, light rail cars, and boats. Our dB-Ply® proprietary
acoustical panel is a cost-effective product designed to reduce vibration and sound transmission to meet mandated interior noise requirements.
Greenwood’s other products include durable, high-performance structural panels tailored for a wide range of industrial applications,
and jumbo concrete forms designed to reduce installation time and lower job-site labor costs.

Seed Segment

The Company formerly operated agricultural seed
processing, distribution and sales through JCSC. Most of this segment’s sales were derived from selling seed to distributors with
a lesser amount of sales derived from cleaning seed. During the fiscal year ended August 31, 2023, the Company decided to close its JCSC
seed subsidiary effective August 31, 2023. During fiscal year 2024, JCSC sold all of its seed inventory and all the moveable equipment.

Company Strategy

We began fiscal 2025 with a positive outlook
and a focus on continuing to lower costs, increase sales, improve margins, introduce innovative products and monetize surplus assets.
However, due primarily to the volatility and uncertainty created by the introduction of various tariffs since February 2025 and the large
purchases of lumber inventory in support of one of our larger customers, our goals to grow and return to profitability in fiscal 2025
were not achieved. Accordingly, management and the Board have reformulated our strategic plan to combat the challenges encountered during
fiscal 2025, and focus on our core strengths during this difficult period. We intend to concentrate our resources on our successful fencing
product lines while monetizing non-core assets and disposing of excess inventory. Management and the Board are also evaluating strategic
alternatives for the Company as well as its individual operating segments and assets that prioritize the Company’s overall value.

5

Our current strategy includes:

· Focus
on our fencing products and increase sales and improve margins;

· Dispose
of excess inventory;

· Monetize
non-core assets;

· Improve
operational efficiencies and cost structures; and

· Seek
collaborative alliances and business partnerships where appropriate.

Focus on Fencing

Fencing remains our largest and most successful
product category and will be the primary focus of our operations and expenditure of resources in the near term. Building on our success
with the thousands of deployed in-store display units for our Adjust-A-Gate® products, which have continued to increase visibility
of our products in stores and have led to higher sales volumes, we are continuing to roll out additional in-store display units for our
Lifetime Steel Post® (LTP) product at major home improvement retailers. The LTP displayers are now in 422 stores, which represents
a small fraction of the potential market, both with our existing big box customers and potential new customers in the home improvement
and professional market. We are also working to create new in-store displayers for our other fencing products, and tailor these new displayers
to better fit in other home improvement retailers that may not have the space available for our current full-size display units. We are
also continuing our innovation in this segment as we launched our low-profile Adjust-A-Gate® Unlimited product in 2025. Significant
growth opportunities remain in the fencing sector, both through the expansion of our existing products into more stores, new sales channels,
and through new and improved products. We are developing improvements and enhancements to our existing products, and evaluating outside
products from third parties that complement our current product lines and broaden our product offerings.

The imposition of worldwide tariffs during 2025
significantly eroded our margins on many products and increased supply chain and logistics costs across the majority of our product lines.
The tariffs directly impacted operating costs and had a significant negative impact on overall gross margins. In addition, many customers
altered their usual purchases and deferred their orders during this period of tariff-related volatility. Many of our customers also refused
to immediately accept higher prices for our products which we adjusted in response to the increased costs associated with the tariffs
and global trade disruption. This resulted in an overall decrease in sales. While the Company took actions to attempt to mitigate these
unforeseen events, such as pivoting to alternative suppliers outside of China through an intensive search, evaluation and onboarding
process that began two years ago, and reducing headcount by nearly 30%, these measures were not sufficient to withstand the headwinds
we faced in 2025. However, we believe that the global economic environment is stabilizing and that customers and supply chain partners
are employing reasonable and innovative policies to maintain equilibrium and continuity of commerce. Accordingly, we intend to focus
on improving margins on our core fencing products through these reestablished partnerships, new sales channels and by more controlled
purchasing management.

Dispose of excess inventory

Demand for certain of our pet products remains
slow as the pet market continues its overall weakness. As a result, we have excess pet inventory at our warehouse. We are working with
third-party liquidators to sell this high-quality but slow-moving inventory which will provide us with cash and clear our warehousing
costs for these products. We also currently have about $5 million in excess lumber inventory which we acquired to meet the terms of our
contractual obligations under our consignment agreement with a major customer which they did not need before the end of last season.
Additionally, this customer has since given notice of their intention to transition away from the consignment agreement in calendar 2026.
Although the consignment agreement provided us with meaningful revenue, it was of very low margin and profitability. We are currently
in negotiations with this customer, as well as other third parties, regarding the purchase of our excess lumber inventory.

Monetize non-core assets

Our surplus seed company property remains on
the market at a list price of $7.223 million. We have also recently listed our creative laboratory building for sale at a list price
of $795,000. As we intend to concentrate our business on fencing and outdoor products, we are presently evaluating all of our non-fence-related
products and if they fit within our sharper focus on higher margin products. As a lower margin segment, management and the Board are
currently evaluating Greenwood’s industrial wood business and considering strategic alternatives. We are also reviewing potential
changes to our pet business, as the overall pet industry is expected to remain weak for the foreseeable future.

Improve operations and cost structure

Over the last several years, we have made significant
investments in improving and streamlining our operational capabilities. We also realigned our workforce within our strategic objectives
through the reassignment of some employees to new roles and an overall headcount reduction in 2025 of 27% year-over-year. We will continue
to look for cost savings that improve our operations and increase productivity. Since February 2025, the unprecedented rise in tariffs,
especially for steel and aluminum products, have substantially increased our product costs and compressed our margins. We have been able
to somewhat mitigate a portion of these new tariff costs through our multi-country sourcing initiative. As retailers and consumers are
becoming acclimated to the tariff-related costs, our customers are increasingly accepting the new prices which will help alleviate a
portion of this cost pressure going forward. We will continue to work with our suppliers and customers to find solutions to these tariff
challenges while reducing our costs as much as possible.

6

Seek collaborative alliances and business partnerships

As part of management’s and the Board’s
strategic plan, the Company will continue to explore potential strategic options to enhance shareholder value. This may include mergers,
acquisitions, divestitures, joint ventures and other business collaborations and partnerships. The Company engages from time to time
in preliminary discussions with third parties regarding a variety of potential transactions. There can be no assurance that these discussions
will result in definitive agreements or the completion of any transaction. We do not intend to provide further updates on these discussions
unless and until a definitive agreement is reached.

Tariffs

Our metal and other products have historically
been mostly manufactured in China and are imported into the United States. Beginning in 2018, the Office of the United States Trade Representative
(“USTR”) instituted new tariffs on the importation of a number of products into the United States from China. These initial
tariffs were a response to what the USTR considers to be certain unfair trade practices by China. The tariffs began at 10%, and subsequently
were increased to 25% as of May 2019.

Prior to fiscal 2024, our metal products were
primarily manufactured in China and subject to the full 25% tariff rate. During fiscal 2024, we engaged suppliers in countries outside
of China, including Bangladesh, Vietnam, Malaysia, and Taiwan. Products manufactured in and imported from these countries were not subject
to the China-specific tariffs, but were subject to other duties and fees that are typically much lower than the then 25% tariff on Chinese
manufactured metal products.

Beginning in February 2025, the new administration
in the United States began to increase tariff rates on numerous products from a range of nations. Imported steel and aluminum
products from all countries globally were assigned a new tariff rate of 25% in addition to any specific country or product
rates. In early April 2025, the U.S. imposed a universal baseline 10% tariff rate on imports globally along with a list of product exemptions.
As of June 4, 2025, the tariff on steel and aluminum imports was raised to 50%. Our steel products imported from countries other than
China are subject to the 50% tariff rate, but not the 10% universal baseline tariff. China, however, has been assigned special rates.
Tariff rates on steel products imported from China were at 95% through November 9, 2025, but were reduced to 85% as of November 10, 2025.

We are continuing our shift to suppliers outside
of China which have lower tariff rates, primarily to Bangladesh and Vietnam. We currently import approximately 5% of our metal products
from China. We also face uncertainty in the interpretation of new tariffs and their applicability, including with respect to customs
valuation, product classification and country-of-origin determinations. Although we and our suppliers seek to comply with applicable
customs laws and regulations, the application of rules regarding new tariffs can be subject to varying interpretations or future re-interpretations.
It is possible that U.S. or other relevant authorities could, upon review or audit, disagree with the valuation, rules of origin or classification
methods applied to certain products. Any such disagreement could result in the retroactive assessment of additional duties with interest,
the imposition of penalties, or other enforcement actions without the ability to mitigate such penalties, thereby adversely affecting
our operations or financial results. Furthermore, certain of our competitors may be better positioned than us to withstand or react to
border taxes, tariffs or other restrictions on global trade and as a result, we may lose market share to such competitors. Due to broad
uncertainty regarding the timing, content and extent of any regulatory changes in the U.S. or abroad, we cannot predict with certainty
the impact, if any, that these changes could have to our business, financial condition and results of operations.

Financial Management

We have continued our efforts to optimize our
operations and reduce our costs. During fiscal 2025, we shifted some employees to better align our workforce with our strategic objectives,
and have reduced our employee headcount by 27% year-over-year. We believe these changes will result in increased productivity and reduce
our costs without compromising quality or service.

As of August 31, 2025, we had borrowed $2,101,835
against our credit line with Northrim Funding Services (“Northrim”). Under the current terms of the agreement, Northrim provides
short-term operating capital by either purchasing the Company’s accounts receivable invoices or as a loan against our inventory
position. The maximum we may borrow against the line is $6,000,000. As of November 28, 2025, our borrowing under this line is $4,304,853.
We are currently discussing with Northrim to adjust the credit line to increase the maximum borrowing computation which would provide
us with additional financial flexibility and to raise the maximum amount available to us. There is no assurance that we will be able
to obtain the desired increases in our credit line, which could have a material adverse impact on our business and financial condition.

Due to the continued uncertainly and higher costs
stemming from the high tariff levels, we expect fiscal 2026 to remain challenging. We will continue to focus on our operational strengths
while reducing costs where possible in our efforts to increase our sales and margins and return to profitability.

In addition, we are currently evaluating several
different strategies to strengthen our liquidity position. These strategies may include, but are not limited to, disposition of certain
non-core assets and unused real property, renegotiation of our credit line with Northrim and seeking additional financing from both the
public and private markets through the issuance of equity or debt securities. There can be no assurance that we will be successful in
achieving these strategies. See “Management’s Discussion and Analysis – Liquidity and Capital Resources”
for additional information.

Customer Concentration

The top ten customers were responsible for 97%
and 88% of total Company sales for the years ended August 31, 2025 and August 31, 2024, respectively. Also, the Company’s two largest
customers were responsible for 74% and 67% of total Company sales for the years ended August 31, 2025 and August 31, 2024, respectively.

Employees

As of August 31, 2025 we had 45 full-time employees
(August 31, 2024 – 62 full-time employees). By segment these employees were located as follows: JCC – 32 (2024 – 40)
Greenwood – 2 (2024 – 2), and JC USA – 11 (2024 - 20). At the end of fiscal 2023, we ceased regular operations at JCSC.
Four of the JCSC employees were transferred to JCC, and the remainder were terminated and offered transition assistance. We continue
to evaluate our ongoing staffing needs, and during fiscal 2024 and 2025 we reduced our number of employees to better align with our current
business operations and development.

None of our employees are represented by unions.
Jewett-Cameron Trading Company Ltd. has no direct employees, and our CEO and CFO are employed by JC USA.