The resolution will be included in the BBNC proxy statement for our 2025 annual election. Voting will open in mid-August of 2025 and close at our annual meeting in early October 2025.

All BBNC shareholders with voting shares as of the record date of the 2025 BBNC Annual Meeting of Shareholders will be eligible to vote by proxy and at the 2025 annual meeting.

Eligible missed enrollees would be issued 100 shares of Class C stock, and eligible descendants would be issued 20 shares of Class D stock.

BBNC dividend amounts are determined by the BBNC Board of Directors on a quarterly basis and are heavily dependent on future financial performance. Our goal is to see no reduction in current shareholder dividends and to keep dividends steady.

Choggiung Limited, the largest village corporation in the Bristol Bay region, recently became the first village corporation in our region to approve descendent enrollment. Shareholders of six of the 12 regional corporations have approved descendant enrollment and another three (including BBNC) have started plans to put a descendant enrollment initiative before their shareholders.

For Class C (missed enrollees) stock, there is a minimum ¼ Alaska Native blood quantum, as required by ANCSA.

For Class D (descendants), there will not be a minimum blood quantum requirement.

No. Descendants may not be a shareholder of descendant stock issued by another Alaska Native regional corporation. They may own original ANCSA stock received through gifting or inheritance.

Yes. As long as a descendant does not own descendant stock of another regional corporation, they are eligible to enroll in BBNC Class D stock.

Yes, lineal descendants of original BBNC shareholders will be eligible to enroll in the new class of stock if they meet eligibility requirements, regardless of whether they have inherited or been gifted original BBNC stock already.

A missed enrollee is an Alaska Native who was qualified for original enrollment as a stockholder of BBNC, but who missed the original enrollment deadline.

While BBNC does not expect to issue all of the shares for many decades, if ever, authorizing this amount gives BBNC the flexibility to grow and accommodate descendant shareholders long into the future.

BBNC is aiming to start accepting applications in mid-November 2025.

Yes, if they were adopted before the age of majority (18) and can provide documentation that shows proof of familial relation, such has a birth certificate and/or an adoption decree.

Yes, both Class C and Class D stock will have voting rights in future BBNC elections.

The Board determined 20 shares of Class D stock would be issued to eligible descendants upon approval by shareholders in order to limit the impacts on current shareholders. While BBNC plans to continue growing current shareholder dividends, the Board also considered impacts to current shareholder dividends, voting power, and other benefits.

Through the myBBNC portal, BBNC has been registering descendants for several years in an effort to keep descendants informed of the activities of the corporation and benefits available to them. Registering as a descendant does not enroll that descendant as a shareholder. If shareholders approve opening descendant enrollment at the October 2025 Annual Meeting, eligible descendants who apply will be issued new Class D shares in the corporation and will then be eligible to receive dividends and participate in future BBNC elections.

Yes. While the application process may be streamlined for descendants who have already registered at mybbnc.net, there will still be an application process that needs to be completed in order for descendants to apply for and receive Class D shares.

Yes. Descendants who are already shareholders via gifting or inheritance but would like to apply for Class D shares will need to complete the application process.

No. The Board anticipates declaring different dividend amounts for Class D descendant shares. The goal is to mitigate the financial impact of the new Class D shares while the Corporation continues growing dividends issued to current shareholders.

Like current shareholder dividends, the Board will determine Class D dividend amounts on a quarterly basis. Dividends are heavily dependent on the corporation’s ongoing financial performance.