John Paul Grenon

Foremost Income Fund operates as an open-end investment fund, which was established for the purposes of indirectly investing in the operations of several business divisions, operating as limited partnerships and any other subsidiaries, and distributing cash and income to holders of Trust Units. Its business operations are conducted through two subsidiary limited partnerships: Foremost Industries LP and Foremost Universal LP. The Foremost Industries LP business consists of the design, manufacture, sale and servicing of heavy all-terrain vehicles and drilling equipment. The Foremost Universal LP business involves the design, manufacture, sale and service of shop tanks, vessels, field tanks, gas separation units, hydrovac, vacuum trucks and compression equipment. The fund was founded on December 28, 2005 and is headquartered in Calgary, Canada.