Dear Shareholders, It was great to see so many of you in Cordova during the week of November 6. As the following pages will show, we had a busy schedule, with in-person meetings of our Land Committee and non-profit educational foundation, an elder

law clinic, a Board meeting, and the Shareholder Informational Meeting followed by a Discussion on Descendant Enrollment. We are very pleased that the meetings and events generated positive re-sults and provided helpful information to our elders, shareholders, and descendants. We greatly appreciate everyone who attended and provided feedback during the Shareholder Infor-mational Meeting and Discussion on Descendant Enrollment. We also appreciate those sharehold-ers who handed in comment cards with kind words and recommendations for improvement. We were amazed that so many of you submitted updated stock wills during the informational meeting. Stock wills help ensure that your shares go to those family members or others that you want to inherit those shares. The shareholder informational meetings are very important for The Eyak Corporation. They pro-vide shareholders and descendants living outside Anchorage an opportunity to meet in-person with the Board and management and to remain up-to-date on the corporation’s activities. In addition, the meetings provide us with a platform to hear feedback from our exceptional shareholders. We look forward to seeing you at the following TEC events over the next several months:

Friday, December 8, 2017- Shareholder Potluck and Open House in our “new” Anchorage office (615 E 82nd Ave, Suite 300), for shareholders, family, and friends, 2:00 p.m. – 4:00 p.m. Saturday, January 27, 2018- Seattle Shareholders Informational Meeting and Descendant Enroll-ment Discussion- 4:00 p.m. – 6:00 p.m. (at the DoubleTree Hilton near SeaTac airport) Saturday, May 12, 2018- Annual Meeting of Shareholders at the Embassy Suites in Anchorage

We hope you enjoy this newsletter and we thank you for your continued interest in, and support of, your corporation.

Chairman’s and President’s Message

THE EYAK CORPORATION On The Hunt . . .

December 2017

Inside this issue:

Chairman's and President’s Message

1

Spotlight on Business by Rod Worl

2

Descendant Enroll-ment Update by Rikki Addy

3

Continued… Descendant Enroll-ment Update by Rikki Addy Stock Will Raffle Win-ners

4 4

Welcoming New Shareholders Remembrance TEC Shareholder Dividend

5 5 5

Cordova Shareholder Informational Meeting and Descendant En-rollment Discussion

6

Shareholder Advisory Committee Update by Duke Anderson

7

2017 Has Been an Outstanding Year For Our Lands!

8

Latest News on The Eyak Foundation by Jim McDaniel Frequently Asked Questions Dates to Remember and Special Announce-ments Mission Statement

9 10 11 12

Martin Parsons Chairman

Nancy Barnes President

Page 2

Rhonda Kelley

Spotlight on Business Fire Alert Project, by Rod Worl

Shareholders attending our informational and annual meetings the past two years have heard me discuss a fire alert business opportunity that we are pursuing. It is my pleasure to provide some background information and an update on the fire alert project. TEC and our partner Integrated Robotics Imaging Systems, Ltd., are attempting to develop a cost-effective solution to spot small fires in an inner-city setting. The goal is to detect fires at a very early stage to provide first responders an opportunity to contain the fires before they become uncontrollable. Anchorage is at high risk for an urban wild-fire and is thus a perfect location to test and pilot new technology to accomplish this goal. We have had several conversations with Anchorage’s mayor and fire staff on the fire alert project and all have ex-pressed support for the project. We held a successful outdoor field test near Merrill Field Airport last month and plan to test a fixed-location in Anchorage in 2018. If the pilot project is successful, the next step will be to test mul-tiple locations. The plan also calls for drones to be integrated with the system to enhance our fire-detection capabil-ities. This step-by-step approach is a way to minimize risks while building a solid reputation in this emerging industry. With each step we become more confident in the technology and more comfortable dedicating resources to the investment. We anticipate long-term prospects for a stable growing revenue source. We think the fire alert project can lead to other opportunities to benefit Alaska, including the following:

Coordination for first responders and law enforcement

Security for land and property Wildlife tracking and notification

Search and rescue

Avalanche monitoring

We hope that eventually other Alaska Native Corporations, cities, municipali-ties, villages, government agencies and other states will find our systems use-ful, while diversifying our business lines and adding a new source of income.

John Parker Rod Worl

Descendant Enrollment Update by Rikki Addy

Greetings fellow shareholders. It is my pleasure to serve as the Chair of the Descendant Issues Committee and to provide this update to you. I would like to extend sincere thanks to all of the current and former committee members who make up this highly productive committee for the time and effort they have expended on committee work. Over the last several years, the committee has taken the following actions on the issue of descendant enrollment:

Created a New Member Enrollment Plan; Drafted articles for the shareholder newsletter on descendant enrollment; Included questions on descendant enrollment in the 2013 and 2017 shareholder sur-

veys; Reviewed other Alaska Native Corporation materials and processes on descendant en-

rollment; Researched and reviewed descendant enrollment options; Reviewed a demographic study that quantified the number of potential new sharehold-

ers; Made recommendations to TEC’s Board on descendant enrollment; and Drafted preliminary budget estimates for bringing the issue to the shareholders for a

vote Over the last two years, we have discussed descendant enrollment at shareholder events in-cluding the annual meeting of the shareholders in Anchorage and the shareholder informational meetings in Cordova and Seattle. We have listened to shareholder comments, noted them, and will do our best to address those comments in a comprehensive informational booklet. Topics will include:

Background information on descendant enrollment including relevant Alaska Native Claims Settlement Act (ANCSA) history;

Terms and definitions; Information on what other Alaska Native Corporations have done with descendant en-

rollment; Pros and cons on descendant enrollment; Answers to shareholder frequently asked questions; Information about dividend dilution; and Preliminary estimates of the cost to enroll new shareholders and estimates on the num-

ber of new shareholders expected to enroll

Page 3

Clifford

Eyak Website & FaceBook

Page 4

Descendant Enrollment Update by Rikki Addy Continued...

The Board recognizes that there will be significant cost incurred to bring this issue to a vote before the shareholders. Before doing so, we would like to gather more current information on your views on descendant enrollment. We hope that you received, completed, and re-turned the shareholder survey administered by the McDowell Group so that the Board can review your opinions on all of the important topics included in the survey, including descend-ant enrollment. During its November 10th quarterly in-person meeting, the Board reached general consensus to hold a shareholder advisory vote on descendant enrollment during the next annual meet-ing of shareholders in May of 2018. An advisory vote is non-binding and will not change TEC’s Articles of Incorporation, which currently do not provide for shareholder enrollment. However, the Board will evaluate the results of the advisory vote when considering whether to put the issue before the shareholders for a vote on a binding resolution in the future. We will include more information on the non-binding advisory vote in future newsletters. Do you have questions about descendant enrollment? Is there something that you would like to see included in the booklet that is not included in the list above? Please let us know by emailing shareholder@eyakcorp.com; by submitting a comment on TEC’s website (www.eyakcorporation.com); by regular mail; or by calling our Anchorage or Cordova offic-es. Please remember that this is a shareholder decision. Your participation is vital and im-portant to us. Thank you.

*******************************************************************************************

Stock Will Raffle Winners! As recommended by the Shareholder Advisory Committee, The Eyak Corporation’s Board of Directors has approved “stock will raffles” to incentivize shareholders to submit up-to-date stock wills. Congratulations to the following “winners” of the raffle held on October 27:

Amanda Essex- $50 Cory Hansen- $50 Geraldine “Babe” O’Brien- $50 Josh Nadell- $100

Page 5

Martin Parsons

Lewis and Lisa Lange

Melody Jordan Gary Hansen

Welcome New Shareholders Remembrance

Dawn Alford Zaiden Barber Zane Barber Zayah Barber Dustin Barnes Chantil Dukart John Page

Betsy Burke Steven Earnest Mae Lange Leonard Smith

2017 TEC Shareholder Dividend In September, The Eyak Corporation’s Board of Directors declared a dividend of $13.64 per share. The dividend will be paid on December 8, 2017, to shareholders who are on record as of November 30, 2017. The 2017 TEC dividend is a 5.3% increase over the prior year’s distri-bution, which was $12.95 per share. The dividend is in addition to the Eyak Permanent Fund Settlement Trust dividend issued in April.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Page 6

Nancy Barnes

Cordova Shareholder Informational Meeting and Descendant Enrollment Discussion

The Eyak Corporation held its Cordova Shareholder Informational Meeting on November 10, at the new Cordova Center. Approximately 45 shareholders and descendants attended the event. In continuing with recent tradition, the Cordova Ikumat Dance Group got the meeting off to a great start. CEO Rod Worl then provided a Management report and Vice President of Finance Sue Jolin fol-lowed with a financial update. Several Board members then gave brief presentations on matters they oversee. Jim McDaniel, Chair of the Donations Committee, provided an update of TEC’s donations to Cordova-based entities in 2017. Brooke Johnson, Chair of the Land Committee, provided an update on TEC land issues. Rocky Dolfi, Board liaison to the Shareholder Advisory Committee, provided an update on the committee. Jim McDaniel, who also serves as President of The Eyak Foundation, provided an update on the Foundation. Immediately after the shareholder informational meeting, Descendant Issues Committee Chair Rikki Addy led an hour-long Descendant Enrollment Discussion. The discussion included an update on the Board’s and committee’s actions to date. It also provided an opportunity for shareholders to ask ques-tions and share their views on descendant enrollment. Shareholder feedback after the meeting was very supportive of the action to “separate” the informa-tional meeting from the discussion on descendant enrollment. The plan is to use the same format for the Seattle Shareholder Informational Meeting in January.

Martin Geraldine Parsons O’Brien

Rikki Addy

Sylvia Lange

Elder Law Clinic Cordova Ikumat Dance

Group Photo!

Martin Parsons

Rockele Guthrie

Jerry O’Brien Jr.

Page 7

Shareholder Advisory Committee Update by Duke Anderson

Dear Fellow Shareholders, It is my pleasure as the newly appointed Chair of the Shareholder Advisory Committee to provide this update. My fellow committee members are: Lena Augafa, Brenda Dukart, Rhonda Kelley, Nicholaus Tiedeman, and Brennan Cain. After almost four years of exceptional service, Melo-dy Caudill has recently stepped down from the committee due to family and work commitments. When you get the chance, please thank Melody for her service to the corpo-ration and our shareholders. The committee held a very productive meeting on November 20. We welcomed new member Nicholaus Tiedeman and received a Board update from Board liai-son Rocky Dolfi. Brennan Cain provided a management update. The committee reviewed a comment card submitted by a shareholder during the Cordova Share-holder Informational Meeting, brainstormed on “shareholder informational meet-ing protocol,” and made several recommendations on that topic for the Board’s consideration. The committee also discussed and made recommendations for the Board’s con-sideration on the following topics:

Elder Recognition; Shareholder of the Year; and Young Shareholder/Descendant of the Year.

If you have any suggestions for the committee, please let us know via email at share-holder@eyakcorp.com, by submitting a comment on TEC’s website (www.eyakcorporation.com), by regular mail, or calling our Anchorage or Cordova offices. The Shareholder Advisory Committee wants to hear from you!

Melody

2017 Has Been an Outstanding Year For Our Lands!

We have made great efforts to clean up our land from litter, debris, junk cars and large appliances. With an eye for preventing future misuses of our land we have worked to educate our community as to which land belongs to The Eyak Corporation as opposed to the State of Alaska and the United States Forest Service. This has been accomplished through signs and through community information campaigns. We participated in Culture week at the elementary school in Cordova and gave information on our land, appropriate uses and the need for a land use permit to over 200 elementary kids and many adults. It is our hope that grass roots efforts will take hold and we will build a future generation of land users who will work with us to respect our lands. These efforts are working, land use permit requests have increased exponentially.

The second step we have made for more responsible land use has been through developing recreational facilities. We vastly improved the Cabin Lake Camp Ground and the Hartney Bay Recreation area. In addition, we improved a dump site for recreation by installing a fire ring at Jeppson Pond (we have installed fire rings at the other recreation areas). Fire rings will reduce litter on our land and along with signage encourage respect-ful land use.

With more work to go, we are just getting started. 2018 is anticipated to be even better.

Page 8

Bill Hansen, Jr.

Sylvia Angela Lange Butler Martin Parsons Jerry O’Brien Jr.

Eyak Website & FaceBook

Page 9

Latest News On The Eyak Foundation, by Jim McDaniel

It is my pleasure to provide this update on The Eyak Founda-tion. The Trustees held an in-person and very productive meeting in Cordova on November 9. During that meeting, the Trustees:

Welcomed new Trustee Tomas Andersen; Reviewed the Foundation’s financial statements; Received a Management report from Heidi Van Gilder; Refined the scholarship application process for contin-

uing students, with short questions for the applicants to answer;

Discussed and approved a position description for Trustees; Discussed IRS regulations that impact eligibility to receive scholarships; and Discussed succession planning.

On behalf of The Eyak Foundation, I’d like to express appreciation for all of the dona-tions in this year and prior years, from TEC, our subsidiaries, our employees, and our shareholders. We were amazed to learn that Josh Nadell and Geraldine O’Brien re-cently donated their stock will raffle winnings to The Eyak Foundation. The Trustees are dedicated to maximizing the amount of those donations that go directly to scholarships for our shareholders and descendants. For more information please call The Eyak Foundation at (907) 334-6971, email us at info@eyakfoundation.org, and check out our website at www.eyakfoundation.org. Please also like us on Facebook, at https://www.facebook.com/eyakfoundation.

Page 10

Frequently Asked Questions

Q. How many original shareholders did TEC have and how many of them have passed away? A. TEC had 326 original shareholders when the corporation was established in 1973. During the

past 44 years, 124 of our original shareholders have passed away. Through inheritance and gifting, TEC currently has 532 shareholders.

Q. Can TEC prepare rules to make sure that shareholder informational meetings provide all shareholders

with an opportunity to ask questions while preventing individual shareholders from taking up all of the limited time?

A. We have requested and received very helpful guidance from the Shareholder Advisory Com-

mittee on the “protocol” for shareholder informational meetings. The Board and Management feel strongly that one of the main reasons for shareholder informational meetings is to give every shareholder the opportunity to ask questions and provide feedback. We are reviewing our meeting guidelines to address those very rare instances where our shareholders feel that an individual is impacting other shareholders’ ability to ask questions or provide feedback.

Q. Can you please insist that shareholders use a microphone when asking questions at the shareholder

informational meetings? I couldn’t hear most of the questions during the Cordova meeting. A. Thanks very much for the feedback. We generally have microphones available at the meetings

and encourage shareholders to use them. Q. Can you please set aside time before or after the shareholder informational meetings for the Board or

Management to meet one-on-one with shareholders who want to address specific issues? A. Great idea! We will look into this option. Q. When will the Shareholder Land Use Program (SLUP) be re-opened? A. A date to re-open the SLUP has not been set. Q. Has the Corporation considered a “buy-back” option for the lots in Hartney Bay? A. Yes, a “buy-back” option is one of several options being considered to address the issues asso-

ciated with the Hartney Bay Subdivision. Q. Can TEC provide a Primer on ANCSA and stock transfers at the Seattle Shareholders Informational

Meeting in January? A. Yes, we’ll be happy to. We will also make sure there are folks available to witness the signing

of stock wills.

December 2017 8- The Eyak Corporation 2017 dividend distribution 8- Shareholder Potluck and Open House Anchorage Office 2:00-4:00 p.m. 24-25 - Office Closed Christmas January 2018 1 - Office Closed New Year’s Day 23—Cordova Iceworm Festival Begins 26-TEC Board Strategic Planning, Seattle 27-TEC Shareholder Informational Meeting, Seattle February 2018 3– Last Day of Cordova Ice Worm Festival April 2018 TBD – Eyak Permanent Fund Settlement Trust Distribution 17-Tax Day May 2018 11-Board Meeting 12-Annual Meeting of Shareholders

Board of Directors

Page 11

Dates to Remember & Special Announcements

Martin Parsons, Chairman Nancy Barnes, President Jim McDaniel, Vice President Rikki Addy, Treasurer Roxanne Dolfi, Secretary Brooke Johnson, Director Todd Lilleness, Director Jerry O’Brien Jr., Director James Ujioka, Director

Alaska Staff

Angela Butler General Manager,

Cordova Operations Rod Worl

Chief Executive Officer Ext 1

Brennan Cain Vice President & General Counsel

Ext 5 Sue Jolin

Vice President of Finance Ext 7

Kate Kalkman Administrative/ Financial Support Specialist

Raven Madison Public Relations Assistant /Cordova

Peggy Fisher Senior Accountant Ext 3

Heidi Van Gilder Office and

Shareholder Relations Manager

Ext 1

The Eyak Corporation 615 E. 82nd Ave., Suite 300 Anchorage, AK 99518

The Eyak Corporation Mission

The Eyak Corporation will return financial benefits to present and future shareholders through the development of economic opportunities

and growth of our assets while protecting the ownership of our ANCSA lands and Native cultural heritage.

Contact Us: THE EYAK CORPORATION ANCHORAGE: CORDOVA: 615 E. 82nd Ave. 901 LeFevre St. Suite 300 P.O. Box 340 Anchorage, AK 99518 Cordova, AK 99574 Tel. 907-334-6971 Tel. 907-424-7161 800-478-7161

www.eyakcorporation.com

http://www.facebook.com/eyakcorp/

SAVE THE DATE!

Anchorage Office Potluck and Open House The Anchorage office will be holding a Potluck and Open House at our new office location for shareholders and family on Friday, December 8th from 2:00 – 4:00 p.m. at 615 E. 82nd Ave. in Suite 300.

We look forward to seeing you!

Seattle Shareholder Informational Meeting Saturday, January 27, 2018

The Eyak Corporation 615 E. 82nd Ave., Suite 300 Anchorage, AK 99518

The Eyak Corporation Mission The Eyak Corporation will return financial benefits to present and future shareholders through the development of economic opportunities

and growth of our assets while protecting the ownership of our ANCSA lands and Native cultural heritage.

Contact Us: THE EYAK CORPORATION ANCHORAGE: CORDOVA: 615 E. 82nd Ave. 901 LeFevre St. Suite 300 P.O. Box 340 Anchorage, AK 99518 Cordova, AK 99574 Tel. 907-334-6971 Tel. 907-424-7161 800-478-7161

www.eyakcorporation.com

http://www.facebook.com/eyakcorp/

SAVE THE DATE!

Anchorage Office Potluck and Open House The Anchorage office will be holding a Potluck and Open House at our new office location for shareholders and family on Friday, December 8th from 2:00 – 4:00 p.m. at 615 E. 82nd Ave. in Suite 300.

We look forward to seeing you!

Seattle Shareholder Informational Meeting Saturday, January 27, 2018

PRSRT STDUS Postage

PAIDAnchorage, AK

Permit #537