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Notice to Shareholders: BBNC’s opposition to the proposed Pebble mine has not waivered

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Dear Shareholders,

Those of you who live in Alaska likely received a glossy brochure from the Pebble Limited Partnership (PLP) recently, touting its Pebble mine proposal and its commitment to pursue “a new path forward.” You may have also read or heard that the Alaska Peninsula Corporation (APC) signed an access agreement with PLP to grant PLP permission to cross its lands with a potential transportation corridor for the mine.

We are reaching out to our shareholders to reaffirm that Bristol Bay Native Corporation’s position on the proposed Pebble mine has not changed. BBNC continues to oppose the proposed mine because it poses unacceptable risks to the fisheries, economy and subsistence way-of-life that are the economic, cultural and social foundation of the entire Bristol Bay region. Like the vast majority of our shareholders, BBNC’s opposition to the proposed Pebble mine has not waivered.

The lands that are implicated by APC’s agreement with PLP are generally split-estate lands, meaning APC is the owner of the surface estate and BBNC is the owner of the subsurface estate. BBNC’s ownership of the subsurface estate includes the ownership of the rock and gravel resources present on the lands. BBNC has not entered into any agreements with PLP regarding access and we will continue to withhold from PLP all rights to occupy our subsurface estate or to use our subsurface resources.

Regardless of all the “noise” PLP is trying to create around its mining proposal, BBNC is still opposed to it. It remains the wrong mine, in the wrong place.

Have a happy and safe Thanksgiving.

Bristol Bay Native Corporation