A Message from the President

Dear Shareholders,

As we head into the holidays, I wish you all good health and much-deserved time to gather and celebrate with loved ones. We have so much to be thankful for.

In this message, I want to take a moment to highlight our financial successes. This year we continued our steady growth and were proud to once again be named one of the top Alaska based businesses-ranked 8th by gross revenue, our highest ranking yet. We also achieved record high net income. With these achievements, BSNC was able to deploy more than $11 million in shareholder benefits-another record.

"Quyaana to each of you who joined our Annual Meeting. Your participation reflects the strength of Our People and guides the future of our Corporation." -Cindy Massie

These benefits come directly from the success of our businesses, and that success relies on attracting and retaining skilled staff and experienced leadership. Our team's dedication has built BSNC from humble beginnings into the strong corporation it is today. We are fortunate to have such committed people. I truly believe that our best work happens when we know it's not just work-but something that improves other people's lives.

While we have seen great success, we remain eager to do more. As the Port of Nome expansion advances, as interest in the Graphite One project continues to grow, and investment is made in the rock quarry, we are positioned to provide materials to these projects as well as to communities like Shishmaref and Utqiaġvik. These efforts open the door to job training, economic growth, and long-term benefits for shareholders while strengthening our region.

This year, we reached a defining moment as shareholders voted to open enrollment, welcoming our descendants as the next generation of BSNC owners and ensuring our legacy continues across generations. This decision renews our responsibility to those who built this Corporation and to those who will inherit it. Opening enrollment is more than a policy change-it is a promise to keep BSNC inclusive and grounded in the values for respect and unity.

As our family grows, so does our responsibility to protect our lands, strengthen our communities, and create lasting opportunity. Staff are preparing a pre-enrollment process to ensure a smooth transition, and we look forward to sharing details soon. Quyaana to each of you who joined our Annual Meeting on October 4, in person or virtually. Your participation reflects the strength of Our People and guides the future of our Corporation.

The world is changing rapidly, and BSNC continues to adapt to it. What remains constant is our dedication to Our People and our determination to sustainably improve the health and well-being of our lands and communities. Thank you for your trust, engagement, and continued belief in BSNC's mission. Together, we will carry this work forward for generations to come. I hope this holiday season brings you warmth, laughter, and moments of joy surrounded by loved ones.

Quyaana,

Cindy Massie

President