Aang Unangax̂ Shareholders & Descendants,
Summer has arrived, and with it comes a season of travel, growth, and new horizons for Aleut.
We are excited to have officially moved our corporate headquarters to Denali Towers. Aleut Plaza has been the iconic home of The Aleut Corporation for nearly 4 decades, but we have simply outgrown the space. I want to acknowledge what Aleut Plaza has meant to so many of us. It has been part of our story from the beginning and remains a meaningful space for employees and shareholders alike. Aleut Real Estate and Tayal Brokerage will remain based in Aleut Plaza and lease open space to new tenants.
In a significant partnership between Aleut subsidiaries, Aleut Real Estate and Strata-G Solutions has broken ground on an aircraft hangar in Alabama. We recognized this milestone with a press conference at Pryor Airfield where federal, state, county and other local officials joined the celebration. This collaboration is the first of its kind for Aleut, strengthening our business foundation and fostering innovation. This partnership not only expands our reach and capabilities but also positions us for continued success in shaping a thriving and sustainable future. The hangar is expected to be complete by early 2027. Out in region, Aleut is building partnerships and pursuing opportunities in Adak. From green ammonia with Pacific H2 to innovative aerospace testing with SpinLaunch, these projects are early-stage investments in long-term, sustainable infrastructure. They also represent our ability to shape the future we want in region—one grounded in innovation, partnership, and local benefit.
We’re also connecting in our communities. The first leg of our shareholder community travel is complete, and I want to thank everyone who joined us in Unalaska and St. Paul. Your participation and feedback mean a great deal to us. We’re looking forward to continuing those conversations in July during the second leg of our travel—see page 15 for more details. This summer also marked a new milestone in Aleut history: The new Aleut Settlement Trust issued its first tax-free distribution to shareholders—$10.00 per share. This historic distribution has been years in the making and reflects the Corporation’s growth and stability.
Last year, our record-breaking revenue highlighted the strength of our businesses and their leadership. We entered the new fiscal year on April 1, 2025 with optimism and caution. Given the continuous changes and uncertainties in government contracting, budgets were prepared carefully. Our teams remain agile, positioning Aleut for continued resilience, adaptability, and responsible growth. I’m proud of the leadership we have in place across Team Aleut—capable, committed, and focused on the road ahead.
From new headquarters to new ventures, we are progressing with purpose toward broader horizons and greater impact.
Qaĝaasakung,
Skoey Aachax̂ Vergen
Aleut President & CEO
July 2025
Board Chair Report
Dear Shareholders & Descendants,
Summer is in full swing, and at Aleut, we are embracing the power of growth—how every step upward, no matter how steep, brings us closer to opportunity, progress, and a stronger future together.
At the end of June, we officially opened our doors at our new home in Denali Towers. This move is more than just a change in location, it’s a step toward improved access and service. Our new office includes a dedicated Shareholder Care Center,
designed to give shareholders a welcoming space to stop by, fill out paperwork, ask questions, and get one-on-one support from our administrative and shareholder services team. Aleut will still own Aleut Plaza and we’re excited to welcome shareholders to visit to the new space.
We enjoyed seeing so many of you at this year’s Aleut Picnic! Held in recognition of Aleut Incorporation Day (June 21), the annual picnic is our way of honoring the day Aleut was established and celebrating how far we’ve come together. Thank you to everyone who joined us, and an extra thank you to the Board candidates who delivered speeches during the event.
We are leveling up our board candidate process. New this year, board candidates were invited to give their speeches at the Aleut picnic instead of the annual meeting, giving shareholders the chance to hear from candidates before voting begins. Once the Date of Record passes in mid-August, candidate speeches will be posted on our website and available to view throughout the voting period.
Our corporation continues to grow, and so do the opportunities we’re working to create. In April, we announced the launch of the Ulakaia Center (UC), formerly The Aleut Foundation. Ulakaia is named for the tallest hill on St. George Island—a place of perspective, purpose, and pride. That climb upward reflects many things: education, career growth, culture, and community. The name was chosen after collaboration with the community on the meaning, spelling and significance of the landmark. Through the UC, Aleut will continue investing in programs that support shareholder success at every stage.
Through our recent investment in the Wildbirch Hotel in Anchorage, we are further expanding employment opportunities. We have established a shareholder and descendant hire goal of 10%, representing a significant step toward ensuring that Aleut investments provide direct benefits to our people.
Looking ahead, we are preparing for the 53rd Annual Meeting of Shareholders, which will take place on Saturday, October 11, 2025 at the downtown Marriott in Anchorage, Alaska. We hope to see many of you there. Looking ahead to 2026, we will be back in the Seattle area for our 54th Annual Meeting. We are excited to head back to the Pacific Northwest next year.
On behalf of the Board of Directors, thank you for being part of Aleut’s journey. Guided by our mission and grounded in our Unangax^ values, with every step we take, we are reaching higher together.
Qaĝaasakung,
Jenifer Samuelson Nelson
Aleut Board Chair
July 2025