Mr. Cliff Grandison reports

ALASKA HYDRO ANNOUNCES APPOINTMENT OF DIRECTOR

Alaska Hydro Corp. has appointed Andrew Donnelly as a director of the company.

A graduate of the University of British Columbia, Mr. Donnelly has held senior roles in consulting, finance and corporate development. His experience includes Deloitte's energy and natural resource practice, a leadership role with a Europe-based private equity group, and Powerex, the energy trading subsidiary of BC Hydro, in Vancouver. He is a strong advocate for systems-level thinking. Having experience with Powerex, which markets and trades energy from British Columbia's (largely hydroelectric) generation portfolio, Mr. Donnelly has a deep appreciation for the flexibility and system value of More Creek that cannot be replicated by intermittent and non-firm generating sources. Mr. Donnelly's skills and knowledge will benefit the company's plans for hydroelectric generation.

BC Hydro announced on March 2 that the 2026 reference load forecast shows higher load growth relative to the 2025 reference load scenario in the 2025 integrated resource plan. The primary drivers of this higher load growth include the advancement of several upstream natural gas and LNG (liquefied natural gas) terminal projects as well as new data centre and AI-related (artificial intelligence) load. This further emphasizes the near-term need for new energy resources and capacity resources, beyond the most recent call for power.

The company would like to acknowledge the contribution of its long-time director, Greg Sunell. Mr. Sunell has resigned from the board after over a decade of service.

The company's More Creek project was submitted to BC Hydro's Call for Power but did not qualify as an eligible bidder, requiring a minimum 25-per-cent indigenous participation.

We seek Safe Harbor.