Aang Unangax̂ Shareholders & Descendants,
As fall approaches and the days begin to shorten, we prepare to gather once again for our Annual Meeting of Shareholders. This year’s meeting carries a special theme: Horizons.
For generations, the Unangax̂ people have looked to the horizon as a reminder that the journey continues. For all of us at Aleut, this theme reflects both where we are and where we’re going. Fiscal year 25 was a year of historic growth and success, and our focus continues on sustainable, disciplined progress, designed to grow opportunity for generations to come.
Last month we announced that Aleut has rejoined the Alaska Federation of Natives (AFN). This decision follows meaningful reforms to AFN’s governance structure and conflict resolution process, as well as a formal apology from AFN leadership. We welcome the opportunity to re-engage and work alongside fellow Alaska Native leaders on the shared priorities that matter to our Unangax̂ people and communities.
We also take time this season to recognize an extraordinary milestone. Dave Nevzuroff, an original Aleut shareholder who worked in Aleut’s finance department, has retired after 50 years of service to Aleut and our shareholders. His work helped build the financial systems that support shareholder distribution growth today, and we thank him for his steadfast dedication to our mission and to our shareholders.
Proxy packets, including Aleut’s annual report and proxy statement, have arrived in homes. You can access the full packet and vote online anytime at aleutvote.com. As part of our continued efforts to create a more inclusive Annual Meeting and voting experience, we’ve made several important updates. This year, we’ve introduced a new PIN lookup tool to make online voting easier than ever. Shareholders only need the last four digits of their Social Security Number and their date of birth to retrieve their PIN and vote online.
We’ve made changes to the Shareholder Q&A Session. This year we are hosting a Q&A panel to have a wider variety of questions answered by a panel comprised of Aleut Board members and Management. Questions can be submitted in advance online and viewed online as well. This format allows us to provide more thoughtful, accurate, and complete responses from the Aleut Board, Management, and staff. You can visit the link here to submit a question or view questions already submitted.
If you are unable to attend the upcoming 53rd Annual Meeting in person, we invite you to register for the virtual meeting on the Annual Meeting landing page here. Whether you join us online or in Anchorage, we hope you’ll take part in this important moment for Aleut and our shareholder community.
Thank you to everyone who participated in this year’s Shareholder Informational Meetings across the region and beyond. Your engagement, feedback, and presence were deeply appreciated. The Annual Meeting gives us another meaningful opportunity to connect, and we hope to see you there.
Qaĝaasakung,
Skoey Aachax̂ Vergen
Aleut President & CEO
September 2025
Board Chair Report
Aang Shareholders and Descendants,
As the slow chill of fall begins to settle across our communities, we look ahead to one of the most important events of our year: the Annual Meeting of Shareholders. This year’s meeting will take place on Saturday, October 11, 2025, in Anchorage, and there are many ways to take part, whether you’re attending in person or following along from afar.
For those joining us in Anchorage, we’re pleased to share that Aleut’s partnership with the Wildbirch Hotel includes a shareholder discount on rooms during the Annual Meeting and the AFN Convention. We’re proud of this collaboration and excited to continue offering programs that make it easier for shareholders to participate in important events.
As we prepare for this year’s meeting, we’re also proud to highlight the seven finalists in this year’s Aleut Shareholder Marketplace. This initiative continues to grow in its impact and reach, and we’re honored to recognize the innovative ideas and entrepreneurial spirit of our finalists, featured on page 7. Each one is committed to building strong businesses that serve our communities. Later this fall, they will attend the Entrepreneur Camp in Anchorage from September 29 to October 2, where they’ll explore the fundamentals of launching a business, connect with small business leaders, and gain tools to turn their vision into a reality.
Supporting shareholder leadership and participation is also central to Aleut’s updated approach to Board elections. Earlier this year, we shared a change in how candidate speeches are delivered to ensure more shareholders can hear from candidates before casting their votes. Board candidate speeches are now presented during the Aleut Picnic each summer and published online after the Date of Record. Because nearly 99% of all votes are submitted before the Annual Meeting, this change ensures that all shareholders have a chance to hear directly from candidates in advance.
As you prepare to vote your proxy, we encourage you to learn more about this year’s Board candidates and the important role the Board plays in guiding Aleut’s long-term vision. The Board provides long-term strategic oversight, approves major investments, helps shape shareholder programs, and ensures that Aleut’s business decisions reflect our mission and values. Full candidate disclosures are available in the proxy statement mailed in early September and online at aleutvote.com.
No matter how you choose to participate, we want to remind you that your voice matters—whether it’s casting your vote, submitting a question for the Annual Meeting, or sharing your ideas for the future. Aleut now offers a more accessible way to connect, if you have questions about Aleut’s business performance, please reach out to our management team at info@aleutcorp.com.
If you have thoughts about shareholder initiatives, long-term planning, or community-focused goals, you can now contact the Board directly at board@aleutcorp.com.
Qaĝaasakung,
Jenifer Samuelson Nelson
Aleut Board Chair
September 2025