THE SHAREHOLDER

handbookUpdated March 2019 table of contents Welcome from the President/CEO...... 2 About Your Corporation This handbook was written by The History of ANCSA Regional Corporations...... 3 Aleut Corporation staff. Any questions Alaska Native Corporations...... 5 or comments should be addressed to: Corporate Governance...... 5 Shareholders...... 5 Shareholder Department Directors...... 5 The Aleut Corporation Management...... 6 4000 Old Seward Highway, Suite 300 Enrollment in a Native Corporation...... 6 Anchorage, AK 99503 Stock Class Types and Certificates...... 6 Phone 907.561.4300 Shareholders Responsibilities Fax 907.563.4328 Types of Shareholders...... 7 Email [email protected] Voting Shareholders...... 7 Toll Free 800.232.4882 Non-Voting Shareholders ...... 7 Custodian...... 8 Casting Votes for the Board of Directors ...... 8 How to Vote Electronically ...... 9 Shareholder Meetings ...... 9 Shareholder Stock Records ...... 12 Stock Wills...... 12 Gifting Shares...... 12 Estate Settlement...... 13 With and Without a Valid Will Chart...... 15 Transfer by Intestate Succession Chart ...... 16 Shareholder Benefits 7(j) Distributions, Dividends, and Elder Benefits...... 17 Managing your Benefits How to Request a Stop Payment ...... 17 How to Apply for Direct Deposit ...... 18 Shareholder Hire...... 19 Shareholder Communications...... 19 The Aleut Foundation...... 19 Scholarships, Career Development, Burial Assistance Information Sharing for the Shareholder Department ...... 20

THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 ANCSA Regional Corporations AANG and GREETINGS The purpose of The Aleut Corporation Shareholder Handbook is to Arctic Slope Regional Corporation provide information about the business of being a shareholder of NANA Regional Corporation an Alaska Regional Native Corporation. It will help you to become more familiar with The Aleut Corporation and your responsibilities Doyon Ltd. Bering Straits Native Corporation Chugach Alaska Corporation

Calista Corporation Ahtna Inc.

Bristol Bay Native Corporation Mission statement: Sealaska To maximize dividends Cook Inlet Region, Inc. & opportunities for our Koniag, Inc. shareholders. The Aleut Corporation

as a shareholder. The Aleut Corporation Shareholder Department is your point of contact. By managing and maintaining your records and communications, it strives to provide the highest quality service to all shareholders. history You are part of the Aleut (Unanga /Unangas) family of shareholders. HOW AND WHY ALASKA NATIVE CORPORATIONS GOT THEIR START I invite you to read this Shareholder Handbook and learn more about In 1971, Congress enacted the Alaska Native Claims acres back to Alaska Natives. This was allocated to more what it means to be an important member of The Aleut Corporation. Settlement Act (ANCSA), which aimed to resolve the than 200 village corporations in Alaska and divided long-standing issues surrounding Native claims to land in among the 12 cultural regions (see map above) whose Alaska. ANCSA was also intended to stimulate economic boundaries were defined by ANCSA. Sincerely, development throughout the state. Thomas Mack In consideration of the lands they had lost, Alaska The primary focus of the settlement was restoration of Natives received $962.5 million, of which $500 million land to the Alaska Native people. The Alaska Native came from the State of Alaska. These monies were paid President/CEO Claims Settlement Act conveyed approximately 44 million out over an 11-year period.

2 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 3 Most of The Aleut Corporation’s ANCSA subsurface land selections are on the Alaska Peninsula, Aleutian, Shumagin, and Pribilof Islands, situated between Port THROUGH ANCSA, THE ALEUT Moller on the Alaska Peninsula to the western tip of Atka CORPORATION RECEIVED: Island. The Corporation owns historical and cemetery sites throughout the Aleutians, including the village site on Attu. • 66,000 acres of surface lands ALASKA NATIVE Corporations An individual shareholder cannot make decisions about Alaska Native Corporations were organized to: how the Corporation is run, but they elect the members • 1.572 million acres of the Board of Directors who do make those decisions 1. Promote the economic and social development of the and represent them. of subsurface estate Alaskan Native people and the villages; 2. Invest, loan or make grants of its funds for any DIRECTORS lawful purpose; The Aleut Corporation is managed by a Board of 3. Engage in any lawful business other than banking Directors consisting of nine (9) members, all of whom are Aleut Region St. Paul Nelson and insurance. holders of voting shares of stock of the Corporation and Lagoon over the age of 18 (as defined in the Bylaws.) The term of St. George CORPORATE GOVERNANCE office of each Director is three (3) years, and staggered False Pass Attu Under ANCSA, Alaska Natives were required to form so that the terms of three (3) Directors expire each corporations. As a result, The Aleut Corporation is bound Akutan Sand Point calendar year. Each Director holds office until his or her by a body of law that evolved for private, for-profit, successor is elected. Unga business entities. Its governance structure is different Nikolski Belkofski than that of a city or tribal government. Under State of The Directors approve most major business decisions Atka Sanak Adak Alaska corporate code, the business of a corporation is and must be well-informed about the risks and benefits Unalaska King Cove dependent on three groups . Each group has separate their decisions will have on the Corporation. Some of roles and responsibilities. their most important duties are: • Defining the overall vision and mission of SHAREHOLDERS DIRECTORS MANAGEMENT the Corporation • Selecting the President and Chief Executive Officer of SHAREHOLDERS the Corporation and determine their remuneration When the Alaska Native Claims Settlement Act passed in • Approving and monitoring the Corporation’s strategic 1971 each enrolled Alaska Native received 100 shares of plan to maximize business opportunities QUESTION & ANSWER stock in their Regional Corporation and some in a Village Corporation. These shares of stock represent ownership • Reviewing and approving annual budgets and the Corporation’s financial statements Q: What is the difference between the Regional of the Corporation. The law gives corporate shareholders Corporation and the Village Corporations? two main rights: • Advising management on major business issues • Declaring shareholder dividends A: Within each of the twelve regions there are 1. The right to decide who will serve on the also village corporations. The Aleut Region Corporation’s Board of Directors; • Developing a management succession plan with a pool of leadership talent management has thirteen village corporations. These are 2. The right to receive dividends when the corporation separate for-profit entities. makes a profit and the Board decides to make a distribution.

4 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 5 MANAGEMENT Today, The Aleut Corporation has nearly 4,000 Management’s corporate responsibility is to make all shareholders who own 324,900 shares, some of which of the decisions needed to run the business of the are now non-voting. With stock ownership comes Corporation on a day-to-day basis: QUESTION & ANSWER QUESTION & ANSWER important shareholder responsibilities including voting in corporate elections, responding to surveys and • Operating the Corporation in an honest, law abiding, Q: What is the difference between Voting and Q: How can I become a Class B shareholder? other activities, as well as keeping your records current and profitable manner Non-Voting Shareholders? with The Aleut Corporation’s Shareholder Records • Understanding every aspect of the Corporation’s A: The only way to receive Class B shares is Department so that we may help ensure your voice is business and profitability A: VOTING SHAREHOLDERS are those who through gifting or inheritance. You cannot always heard. • Preparing and implementing the strategic and were either originally enrolled or are lineal change your Class A shares to Class B. Shareholder participation is essential to the success operating plans for the Corporation that are approved descendants from an original enrollee. of the Corporation and may include a variety of tasks. by the Directors NON-VOTING SHAREHOLDERS are those Voting and responding to surveys is just part of that • Preparing detailed operating budgets to cover the TYPES OF SHAREHOLDERS who have inherited shares but are not of responsibility. Shareholders should also ask questions, cost of doing business Aleut Corporation shareholders are responsible for Alaska Native ancestry. read annual reports and proxy statements, and ensuring the long-term strength of the Corporation by participate in the annual meeting process. ENROLLMENT IN A NATIVE CORPORATION participating in all elections. Shareholders fall into 3 Alaska Natives - Eskimos, Indians and Aleuts - who types of voting status: Shareholders may vote in person at the election judge wanted to receive benefits from ANCSA were required location, by ballot at the Annual Meeting, or by mail, STOCK CLASS TYPES AND STOCK CERTIFICATES Voting Shareholder 1.  fax or online proxy. Proxies are typically mailed to each to enroll with the Bureau of Indian Affairs (BIA) between Originally, 3,249 Aleuts registered to become 2. Non-Voting Shareholder shareholder about 60 days prior to the Annual Meeting. 1971 and September 1974. The original enrollment shareholders in The Aleut Corporation. Original Shareholders also have the option to vote online. totaled nearly 80,000 Alaska Natives. Original eligibility, shareholders each received 100 shares, creating 3. Custodian (representing a minor shareholder) as defined in ANCSA, required that a Native be at least Shareholders or custodians are eligible to vote as noted 324,900 shares within the Corporation, a number that Only Shareholders with voting rights may participate one-quarter (1/4) or more blood quantum Alaska Native, on your proxy or ballot. has not changed since inception. Shareholders may in conducting the business of the Corporation such as a United States citizen, and alive on or before December designate who will receive their shares upon their death electing Directors. 18, 1971. The Aleut Corporation enrolled 3,249 original via a formal Will or a Stock Will. Gifting is also an option NON-VOTING SHAREHOLDERS’ shareholders. for shareholders and will be discussed later. VOTING SHAREHOLDERS’ RIGHTS AND RESPONSIBILITIES RIGHTS AND RESPONSIBILITIES Non-voting shareholders are eligible for dividend At enrollment, each shareholder received either 100 distributions but are unable to vote in corporate Originally, The Aleut Corporation had 3,249 shareholders Class A shares or 100 Class B shares. Those who elections. This is a population of shareholders created and 324,900 voting shares. Changes have occurred received 100 Class A shares also received 100 shares strictly through the inheritance process. As of 2019, The in the number of voting shares as shareholders have QUESTION & ANSWER in one of the 13 village corporations in the Aleut Region. Aleut Corporation had approximately 150 non-voting passed and new shareholders have inherited their Those who received 100 Class B shares originally, did shareholders. Q: How can I enroll my child in The Aleut not become holders of stock in a village corporation. shares (a process discussed later in this handbook). Corporation? See page 17 for a discussion on 7(i) and 7(j) payments to village corporations and Class B shareholders. A: The Aleut Corporation does not have open enrollment. Descendants can become shareholders by being gifted shares or inheriting shares.

6 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 7 CUSTODIAN RIGHTS AND RESPONSIBILITES Splitting your votes: HOW TO VOTE ELECTRONICALLY via THE INTERNET 4. Carefully read the instructions and then distribute Even though there are three vacancies, you do not have your votes among the Board candidate(s) however Custodian for a minor: 1. Locate your shareholder PIN number from your printed to split your votes. You may cast them however you want. you choose to vote. A minor shareholder is anyone who owns shares in The proxy. Have your shareholder ID number, and the last Aleut Corporation who has not yet reached his or her For example, you may choose one candidate and vote 4 digits of your social security number available. The 18th birthday. The stock of The Aleut Corporation, and all 300 of your shares for that one candidate or you PIN is unique and randomly generated by an outside any cash payments belonging to a minor, must be issued may split the 300 votes as many ways as there are firm. The Aleut Corporation personnel do not have to a qualified adult as custodian for the minor. candidates. It is up to you as a shareholder. access to any shareholder PIN numbers. If you need Minor shareholders must be represented by an adult help obtaining your PIN or shareholder ID number, you It is important to make sure you vote the number of custodian who will be responsible for voting a minor’s should contact the election judge as shown on the shares you are eligible to vote as noted on your proxy shares, if applicable, or receiving dividends for that minor. login page. or ballot. If you were to vote more shares than you are Connect to the Internet and go to www.aleutvote.com The Custodian may be: eligible to vote, your proxy would become invalid for 2.  voting. 1. the legal guardian, 2. the parents, or Voting in the election of Directors is a very important shareholder responsibility. The Aleut Corporation works 3. an adult member of the minor’s family. hard to provide you with information on all candidates so The Aleut Corporation Shareholder Records Department that you may make an informed vote. How you choose can help in defining the minor legal guardian. to place those votes is up to you. The Aleut Corporation encourages you to exercise the right to vote in this The Custodian’s obligations are to: important process. 5. Enter your email address to receive confirmation that 1. keep and protect the stock certificates, you voted through the Internet. 2. vote the stock on behalf of the minor, and 6.  Click “Vote” and exit the system. 3. To open your proxy form, enter your shareholder 3. receive and administer monies distributed to the ID, PIN, and the last 4 digits of your social security minor. If you would like to change your electronic vote at a later number in the fields where they are requested. date, you may do so by following the same method as CASTING YOUR VOTES FOR THE BOARD OF DIRECTORS described above. If you would like to change your mail in Cumulative voting: proxy vote, see Q & A on page 8. The Aleut Corporation is required by Alaska statutes to utilize cumulative voting when electing Board of QUESTION & ANSWER Directors (BOD). As shown in the table below, there is a Q: May I revoke my proxy and cast a new one? difference between the number of shares that you own QUESTION & ANSWER and the number of votes you may cast in the election. A: You may override your existing proxy by Q: Who do I need to contact if I lost my PIN In an election where there are 3 Board vacancies, a voting a new proxy either by mail or online SHAREHOLDER MEETINGS number or have questions about how to fill The date, time, and location of the Annual Meeting shareholder who owns 100 shares would have 300 votes at www.aleutvote.com. You will be asked if out my proxy? is defined in the Annual Meeting Rules. The Board of (number of shares X the number of Board vacancies). you want to override your existing proxy. You Directors adopts these rules every Spring, usually at their may also cancel your proxy in person at the A: Contact our current election judge. The March meeting. The rules provide the guidelines to the Annual Meeting and vote by ballot. NUMBER OF NUMBER OF NUMBER current contact information is on all proxy election process and are administered by the election BOD VACANCIES SHARES OWNED OF VOTES *Note – ballots voted at the Annual Meeting are materials. judge. The President shall preside at all shareholder 3 X 100 = 300 not eligible for proxy prize drawings. meetings. 3 X 50 = 150 3 X 10 = 30

8 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 9 Annual Meeting of Shareholders: This is a time for shareholders to ask questions and Unless otherwise designated by the Board of Directors, discuss items of importance. Often other people of the Annual Meeting of Shareholders will be held in interest travel along, such as Aleut Region legislative October of each year. In the event that it is not held representatives, the Alaska congressional delegation during the month of October, the Board of Directors shall from Washington, D.C., and other entities such as The permit the Annual Meeting of Shareholders to be held Aleut Foundation, Aleutian Pribilof Islands Association, as soon as the meeting may conveniently be convened. and the Aleutian Housing Authority. A notice will be sent to shareholders with the meeting specifics. The notice will be mailed: PACIFIC NORTHWEST ALEUT COUNCIL (PNAC) PNAC is a non-profit organization made up of Aleut • To each shareholder of record entitled to vote at shareholders living in the Pacific Northwest who get the meeting together for cultural gatherings and celebrations. They • To the address that is on file with the Corporation sponsor an annual picnic, a Christmas potluck and a • Not less than twenty (20) or more than sixty (60) days culture camp. prior to the date of the meeting Periodically, The Aleut Corporation holds an Record date: informational meeting in the Seattle area so that For purpose of determining those shareholders entitled to shareholders and their families may meet with the vote at the Annual Meeting of Shareholders, a record date Management Team and the Board of Directors. will be established not more than sixty (60) days before, and not less than twenty (20) days before the date of the Annual Meeting.

Order of business: The following order of business shall be observed at all Annual Meetings:

Roll Call Election of Directors

Reading of Minutes of the Previous Meeting Unfinished Business ALEUT PICNIC Aleut shareholders, descendants and their families are Reports of Officers and Agents New Business invited to attend the Aleut Picnic hosted by TAF and TAC.

Reports of Committees Held at the Aleut Plaza, hundreds of shareholders and their families attend the barbecue, listen to music and take part in Aleut dancing and activities. INFORMATIONAL MEETINGS For more information call The Aleut Foundation at The President and staff organize shareholder informational 907-646-1929 or go to their website at www. meetings to be held throughout the Aleut Region and thealeutfoundation.org. Pacific Northwest. Shareholder informational meetings provide updates to shareholders on corporate business.

10 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2018 11 By law, the individual receiving the gifted stock must be ESTATE SETTLEMENT Alaska Native or a descendant of an Alaska Native and The Aleut Corporation has established policies and related to the shareholder gifting the stock. procedures that adhere to State of Alaska corporate code in the transfer of ownership of TAC shares upon the • Alaska Native – A citizen of the United States who is death of a shareholder: a person of one-fourth or more Alaska Indian, Eskimo, or Aleut blood, or a combination thereof. 1. TAC receives notification of shareholder’s death. SHAREHOLDER’S STOCK RECORDS STOCK WILLS 2. TAC sends a request for a copy of the death • Descendant of an Alaska Native – A lineal AND RESPONSIBILITY A Stock Will is a legal document ensuring that in the certificate and copies of any Wills executed by descendant of a Native or of an individual who would The Aleut Corporation (TAC) maintains stock records event of death, shares are transferred according to the the shareholder. We also send a family history have been a Native if such individual were alive on for each shareholder. TAC stock records are used to shareholder’s wishes. All shareholders should complete questionnaire (Relatives of Deceased form) to December 18, 1971; or an adoptee of a Native or of a determine: this important document. relatives that must be filled out and signed by a descendant of a Native. • Who is entitled to receive dividends A shareholder may will Alaska Native corporate person familiar with the shareholder’s family. shares to anyone, including non-Natives, corporations, The transfer of stock is irrevocable: • Who is entitled to vote at meetings of shareholders 3. TAC conducts an independent search to identify the partnerships, associations, firms, churches, and trusts. Once you have gifted stock, you cannot change your most recent will of the deceased shareholder. If the It is each shareholder’s responsibility to maintain In such cases however, these shares would not have mind. You lose all rights to the stock that you gift, most recent will is a formal Will, and refers to TAC complete and accurate records by promptly advising the voting rights. and you cannot get the stock back. Once the stock stock, that Will should be used. If the formal Will does Shareholder Department of : is transferred, dividends and distributions associated If a Stock Will or formal Will is not on file with The Aleut not specifically address TAC shares, a TAC Stock Will • Name changes with the transferred Stock Will belong to the person Corporation, a deceased shareholder’s shares will be may be used. who received the shares. In order to document that • Address changes distributed according to the laws of the State of Alaska 4. If a valid Will or Stock Will is not located, TAC the persons to whom you wish to gift stock are such and not necessarily as the shareholder may have investigates and documents family relationships and • Deceased shareholder(s) relatives, you must provide The Aleut Corporation desired. follows Alaska State laws of intestate succession for Due to the U.S. Postal Service’s automated mail system, if certified copies of the appropriate birth certificate(s) transferring the shares. the address on your shareholder records does not match The Stock Will form may be found on The Aleut to establish the relationship between you and the If a valid Will or Stock Will are located, TAC the address you have on file with the Postal Service you Corporation website at https://www.aleutcorp.com recipient(s) of the gift. The Gifting Stock packet is found 5. determines the governing Will and obtains the original might not receive dividends, tax reporting forms, annual on the TAC website at https://www.aleutcorp.com. Will or a certified copy. reports, newsletters or voting materials. GIFTING SHARES Gifting to a minor: Aleut Corporation shareholders may gift stock to a child, 6. TAC researches Alaska State law to determine if Shareholders should use the shareholder portal If you gift to a minor (someone under 18 years of age), grandchild, great-grandchild, niece, nephew, brother, or there are any legal issues that need to be resolved. to update their address or notify the Shareholder a custodian must be named to manage the stock until sister. This includes children legally adopted into your Any identified legal issues must be resolved before Department any time their address changes, and should that minor is of legal age. Refer to page 8 for details on family. The adoption had to occur before the adopted moving forward to the next step. also update their address with the United States Postal custodian rights and responsibilities. individual was 18 years of age and you must furnish the Service. required substantiating documents. Missing shareholders: Not included in this option are stepchildren (and the If TAC receives 3 pieces of returned mail for a stepchildren of your children or grandchildren), and shareholder, their account is placed on hold and the stepbrothers or stepsisters who have not been legally shareholder is added to the Missing/Incorrect Address adopted into your family. List. We publish this list on our website at https://www. aleutcorp.com. If you, or someone you know is on the Lost Shareholder list, please contact the Shareholder Department immediately.

12 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 13 QUESTION & ANSWER 7. TAC formally requests required documentation from Estate Settlement with and without a valid Will each heir including some or all of the following: an Q: I’ve sent in all the required forms. Why is Affidavit of Entitlement, Social Security Verification it taking so long to settle my father’s stock TAC receives notification form, Certificate Degree of Indian Blood and other transfer? of shareholder’s death relevant documents and/or records. A: Before TAC transfers stock, the law requires 8. The stock is transferred and stock certificates and us to obtain certain legal documentation. Death Certificate Required information about the Corporation are mailed to The Aleut Corporation is working on each heir. numerous transfers at any given time. Valid Will (s) Located A Valid Will is Not Located 9. Monetary settlements from any undistributed Estates are processed in the order in dividends are made after the stock is transferred. which this documentation is received. Even though you may have responded promptly TAC obtains a legal copy of a There is no formal Will that specifies to our requests, others mentioned in the formal Will or shareholder files a TAC shares and shareholder did not IF LEGAL ACTION IS REQUIRED valid Stock Will. file a Stock Will with TAC. If legal action has commenced, the estate file is estate may not have. When this occurs, the

submitted to legal counsel and settlement is delayed settlement process is delayed. If every effort is used and pending further investigation. Locate Named Beneficiary Locate Lawful Heirs TAC cannot locate heirs the Q: My grandfather left a Will dividing his shares Escheat to TAC. A letter is sent to all involved parties informing them of 100.333 shares equally among eight TAC investigates and documents the proposed stock distribution and transfer date. The grandchildren but some received more TAC contacts family and informs family relationships and mails a how shares will be transferred. letter gives individuals a minimum of 30 days to notify shares than others. Why? Relatives of Deceased form. TAC in writing that legal action will be taken to dispute the proposed distribution. A: Under TAC Policy, we can no longer create fractional shares in a stock transfer. Dividing If heirs are not shareholders If heirs are not shareholders If an heir is already a shareholder If a named Beneficiary is already • New Shareholder Criteria form • New Shareholder Criteria form After receipt of all required documentation, the estate 100.333 shares among 8 individuals has required documentation from heir(s) a shareholder • W-9 • W-9 • an Affidavit of Entitlement file is submitted to legal counsel for review and approval the issue of fractional shares. To address • Affidavit of Entitlement • Affidavit of Entitlement and • An Affidavit of Entitlement • Social Security Verification form of the proposed distribution. this, TAC Policy has incorporated changes SSN Verification • Social Security Verification form eliminating those fractions. In this case, the

DISPOSITION OF TAC SHARES CONTINUED shares would be divided as follows among Transfer under Alaska laws of Transfer shares per will What the Alaska Statutes require: the 8 heirs: Oldest to youngest: 13.333, 13, interstate succession Alaska Statutes govern all ANCSA stock transfers 13, 13, 12, 12, 12 and 12 regardless of where the shareholder resides at the time Disposition of TAC Shares distributed of his or her death. The Aleut Corporation is required to to proper persons determine the proper heirs of the TAC stock: ESCHEATMENT OF SHARES • In accordance with a valid Will, Stock Will, or The Alaska Native Claims Settlement Act of 1971 provides • Under Alaska State laws of intestate succession if no for the “escheatment” of shares to a corporation in valid Will exists. the event that a shareholder dies without a Will and without heirs under the intestacy laws. The decision to Intestate succession: escheat shares to The Aleut Corporation will result in the When a shareholder dies “intestate” (without a valid cancellation of those shares and reduce the number of Will disposing of his or her TAC shares), state law outstanding shares. governs which relatives inherit the shares and TAC must distribute the shares accordingly. The Aleut Corporation has yet to escheat any corporation shares.

14 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 15 SHAREHOLDER BENEFITS: 7(j), DIVIDENDS, Elder benefits eligibility requirements: Elder Benefits 1. Must be a voting shareholder or original enrollee of the Corporation on the record date March 31st of any 7(j) payments: Transfer by intestate succession Every year The Aleut Corporation receives payments given year. from other regional corporations under the ANCSA 7(i) 2. Must be sixty (60) years of age or older on or provision. before March 31. Shareholder Deceased When one of the twelve regional corporations earn 3. If an eligible person dies before they receive a revenue from the sale of natural resources on ANCSA declared distribution, that payment will be paid to selected land such as timber, oil, zinc and other their estate.

2. If there are 4. No Surviving Issue 5. No Surviving Issue 6. No surviving subsurface resources, that revenue is then shared 1. No Surviving Issue 3. No Surviving Spouse Surviving Children or Spouse or Parent issue, parent, or among the other regional corporations. issue of a parent but the decedent QUESTION & ANSWER is survived by As guided by ANCSA, The Aleut Corporation shares the Spouse will receive one or more 7j revenue with the village corporations within the Aleut Shares are transferred Q: I lost my dividend check or it was not All of the shares go to one-half and the grandparents to the decedents, Region and the Class B At-Large shareholders directly. the surviving spouse children will split the or issue of delivered to my address. How can I get a parents equally remaining half grandparents The funds distributed to the village corporations and new one? Class B At-Large shareholders are defined under section A: The Stop Payment form may be found 7(j) of ANCSA. If any of the children are This would be the The shares go to the on The Aleut Corporation website or deceased, that portion is The shares go to the decedents brothers children of the decedent divided among his/her issue of the parents and sisters and their These 7(j) distributions are not considered operating by contacting the Shareholder Records in equal portions heirs by representation issue by representation dividends because they are based on the resource Department. A new check will then be revenues of the Native regional corporations shared reissued, after 30 days. It is the shareholder

Half of the estate passes to the paternal grandparents if both survive, or go to the under Section 7(i) of ANCSA. responsibility to keep the Shareholder surviving paternal grandparent, or to the issue of the paternal grandparents if both Department updated with your current are deceased, the issue taking equally if they are of the same degree of kinship Dividends: to the decedent, but if of unequal degree those of more remote degree take by address at all times. See Signing Up for The Board of Directors establishes the amount to be representation; and the other half passes to the maternal relatives in the same manner; Direct Deposit in this pamphlet. but if there be no surviving grandparent or issue of grandparent on either the paternal paid per share of which each shareholder receives an or maternal side, the entire estate passes to the relatives on the other side in the same manner as the half amount dependent on the number of shares he or she owns. The Aleut Corporation cannot make any advances How to Request a Stop-Payment to shareholders on future dividend or distributions. on a Dividend Check Elder benefits: Shareholders may request a stop-payment be placed The Corporation provides benefit to its elder on an outstanding dividend check issued to them after shareholders (age 60 and over). It is the wish of the a minimum of 30 days have elapsed from the date the Board of Directors to provide its elder shareholders check was issued. with an elder distribution when the Board determines • To initiate the stop payment, shareholders must a distribution would be appropriate. That distribution complete and submit the Stop Payment form. The amount, like dividends, is established by the Board of Stop Payment form may be found online at: https:// Directors. www.aleutcorp.com or by contacting the Shareholder Records Department for a form to be mailed or emailed to you.

16 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 17 Stop payment process: SIGNING UP FOR DIRECT DEPOSIT SHAREHOLDER PREFERENCE PROGRAM THE ALEUT FOUNDATION (TAF) • The Shareholder Records Department will verify The Aleut Corporation Shareholder Department The Aleut Corporation’s goal is to increase shareholder The Aleut Corporation funds TAF, which provides many with the bank that your check has not been cashed. encourages shareholders to apply for direct deposit for hire, and has adopted a Shareholder Preference Policy. benefits to our shareholders and descendants including If the check has not been cashed, the stop-payment faster access to your dividend funds. education and burial assistance. To view all that TAF has is placed. Pursuant to the Alaska Native Claims Settlement Act, 43 to offer visit their website here. • TAC will issue you a replacement check (with a $25 The advantages to direct deposit: U.S.C. § 1601 et seq, TAC may grant preference to eligible service charge deducted from the total) within seven • Direct deposit safeguards against misplaced, lost, and qualified TAC shareholders and their descendants, Scholarships: to ten business days after the stop-payment request or stolen dividend checks, and you will receive your when two applicants or employees have equal or The Aleut Foundation’s educational scholarships have has been placed. dividend faster since you will avoid issues related to similar qualifications and/or experience, which include, evolved over the years to better serve our students’ mail deliveries. without limitation: filling vacancies through initial hiring, continuing education needs. There are three scholarship • The reissued check will be mailed to the address that appears on your shareholder records. • No waiting in lines at the bank. promotion, lateral transfer, and reassignment; training; application periods: Fall, Spring, and Summer. To view and other similar employment opportunities. the scholarships TAF scholarships include: • If you receive or find the original check after having received a reissued one, we ask that you return the How to Apply for Direct Deposit The Aleut Corporation shall give preference to • Academic • The Direct Deposit form is found on the TAC website check to The Aleut Corporation. Corporation shareholders and their descendants in the • Part-Time at https://www.aleutcorp.com. We want to make sure we are sending your dividend award of contracts and grants. Where allowable by law, • Graduate • A voided check from your account must be included or distribution to the correct address. Contact the grantees, sub grantees, contracts, and subcontracts of with the application to verify address and contact • Working/Full-Time Shareholder Department immediately if there are issues TAC shall include the requirements of similar Corporation information. • Advanced College Credits with your dividend or distribution. shareholder and descendant preference statements. • The name on your bank account must match the • Vocational/Technical Definitions: name on record with TAC. A. Shareholder - a person who is a current holder of Community Training • If you change your bank or your account, a new shares of The Aleut Corporation stock Career Development QUESTION & ANSWER application must be sent to the Shareholder Records B. Descendant – a lineal relative of a shareholder • Career Fair/Trade Show linking shareholders and Q: Can I get an advance on my future dividend descendants to subsidiaries and local employers payment? Jobs: during the Annual Meeting of Shareholders. The Aleut Corporation has a talent bank through the • TAF programs which include education units, A: No, The Aleut Corporation cannot advance shareholder portal and posts jobs on our website: attendance at professional conferences, or classes dividends or provide loans to shareholders. https://www.aleutcorp.com such as a commercial drivers license course. Q: Can the IRS or the Child Support Division • Vocational-Technical funding. garnish my Aleut dividend? SHAREHOLDER COMMUNICATION We are always looking for new ways to keep • Leadership Development Assistance for high school A: Yes. All Alaska Native Corporations must shareholders and descendants informed on what students. withhold your dividend when notified by the IRS is happening in the Corporation. Shareholders and • Future Leaders – w/ Afognak & Kodiak Island School and must also honor child support court orders. Department. descendants can access current information through any District. of the following: Q: I borrowed money and signed a letter • Canceling your direct deposit requires a written Travel Scholarships – Culture Camps & AFN relinquishing my dividend. Can you send the notice. Cancellation notices may be faxed, mailed, or • MyAleutConnection - Shareholder Portal check to the entity that gave me the loan? emailed. https://portal.aleutcorp.com Student Resource Handbook

A: No. Dividend checks cannot be issued to, or • Printed and electronic newsletters Burial Assistance mailed to another person or entity. This is a • Social Media - Facebook, Twitter, Youtube Visit their website at: http://www.thealeutfoundation.org security issue and staff must adhere to this • TAC Talks - informational videos policy with no exception. • TAC Website: http://www.aleutcorp.com

18 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 19 INFORMATION SHARING FROM THE SHAREHOLDER DEPARTMENT It is the policy of The Aleut Corporation to maintain the privacy of all shareholders. We do not provide a relative's contact information or allow changes without the shareholder's written permission.

The Aleut Corporation also works in partnership with all village corporations and other regional entites on issues The Aleut Corporation logo is a combination the ceremonial whale hunter hat. The spiral of importance to our people. of traditional and contemporary elements. adds motion and fluidity and becomes the The logo communicates the strength, single most important element. It is a common Why we may share information: heritage and clear vision embodying the motif used in the art of the Aleuts. The spiral, The more complete information the Corporation has, the better we can meet your shareholder business Corporation and its members. It combines pre- which consists of concentric circles with an needs. Sharing information and data with our village Russian Aleut art, the elements of which are eye at the center, is believed to stand for the corporations and other Aleut region entities leads to abstract, asymmetrical, and curvilinear, with universe as a whole; the eye—meaning “clear better coordination of services and helps us identify contemporary designs to produce a modern sight,” and the ability to discern things that are those who are eligible for benefits and services from corporate effect. The elements creating the “A” beyond material reality. This logo represents organizations that serve our shareholders. form suggest excellence and, of course, the the association between our ancestral Aleut What we may share: first letter of the word Aleut. In the background people and the modern Aleut Corporation. Name, addresses (email & mailing), or death are two triangles which form an arrowhead, A blue-green color, to be used in the certificates. Any other information will require a symbolic of the hunter, or two volcanic background, is a traditional shade commonly release of information unless required to do so by islands of the Aleutians, and the shape of use by the Aleuts during pre-Russian time. court order or law.

QUESTION & ANSWER Q: Does TAC make donations?

A: We focus our attention on those entities that provide benefits to the greatest number of TAC shareholders and to those efforts that enhance our Unangax way of life. Donations are generally made to non-profit organizations.

20 THE ALEUT CORPORATION SHAREHOLDER HANDBOOK | 2019 21 You are part of the Aleut (Unanga ) family of shareholders. Learn more about what it means to be an important member of The Aleut Corporation.

One Aleut Plaza 4000 Old Seward Highway, Suite 300 Anchorage, Alaska 99503

Phone 907.561.4300 Toll-free 800.232.4882 Fax 907.563.4328 Email [email protected] www.aleutcorp.com

THE ALEUT CORPORATION