Letter from BBNC’s President

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It’s the start of summer, and many of our minds are on fishing, or soaking up the endless daylight, or on the opportunity to be outdoors, gathering with friends and family as we enjoy the bounty of the season. Salmon will return to Bristol Bay – filling our nets, fueling our local economy, and opening up our unique corner of the world. This is the season when we work the waters and the land, and when we all have the chance to recreate and recharge.

And yet, it’s important to not lose sight of our day-to-day responsibilities and commitments. For example, we are amid an important mid-term election year. BBNC has long encouraged people to get out and vote, to have your voices count, and to sustain your civic duty. Things that matter to Alaska Natives, to our shareholders, and to our communities will be on the ballot in this upcoming election cycle. Regardless of your political affiliation, regardless of geography—whether you live in Anchorage or in our rural communities or in the Lower 48—voting is a right and a privilege that gives all of us the chance to stand up for the issues that matter most to us.

Beginning this year, Alaskans will have a whole new way of voting, called ranked choice. You can read more about ranked choice voting and how it works on page 2. What I’d like to impress upon you is that ranked choice voting will give people more options and more flexibility to have your voices counted. And while a new approach to voting may seem daunting or confusing, BBNC encourages our shareholders to learn about the new system and to turn out and vote. With a special election for a congressional seat on the ballot, as well as both gubernatorial and senatorial races, there’s a lot on the table. You have the chance to cast your vote for the candidates who best represent the things that matter most to you. That’s empowering and exciting.

By the time you read this, we will have just finished and audited BBNC’s financials from FY22. We’ll share the news about the final audit once it’s finished—and of course you’ll get a complete picture in our annual report later this summer. What we can share now is that FY22 has been one of the strongest in BBNC’s 50-year history. We’ve finished our strategic plan, which we’ll roll out in full at our annual meeting this fall, but I can share that BBNC will continue to focus on the overall health of the corporation by prioritizing diversification within our portfolio, and we’ll continue to invest in our communities and in our land and our resources. Through persistence, through solid management, through good governance, and through the support and patience of our shareholders, BBNC has moved through the pandemic and through financial uncertainty remarkably well. All in all, there’s a lot to celebrate and look forward to and we’re feeling optimistic about the road ahead.

So, here’s to an abundant summer. Thanks to a cold winter and water temperatures that accompany a cool season like the one we had in Bristol Bay, and thanks as well to an incredibly well-managed, healthy, and sustainable fishery, we’re looking at a plentiful fishing season—with possibly upwards of 65 or 70 million sockeye salmon returning to Bristol Bay this year. It’s sure to be a historic run. As you’re out there enjoying the bounty of the summer season, remember to stay safe—including staying healthy and safe from COVID. While there is a light at the end of this incredibly long tunnel, we’re not entirely out of the woods yet.
Please look out for each other. Enjoy yourselves. And thanks, as always, for your support.

Jason Metrokin
President & CEO