Dear fellow shareholders,

Like many of you, I’ve eagerly awaited the arrival of spring and the warmer weather that replaces the cold and snow. Usually, this season allows us a moment to pause after the busy year-end and gear up for the new work year ahead. However, this year stands out with an uptick in new projects starting, old contracts concluding, and a bustling round of bidding by our subsidiaries. In addition to these developments, our subsidiaries have completed their annual preparedness training for employees engaged in construction work this year.

I am excited to welcome original Ahtna Shareholder Robert Harris into his new position of Chief Operations Officer at Ahtna Netiye’, bringing with him a wealth of experience from his diverse background. With an Electrical Engineering degree and significant leadership roles at Alyeska Pipeline Service Company, CH2M Hill, and the Municipality of Anchorage, Robert is well-equipped for his new role. His expertise in project management, strategic planning, and team leadership will be invaluable as he focuses on optimizing processes, managing resources, and ensuring the efficient execution of business strategies. Working closely with me, Robert will play a pivotal role in driving operational excellence and achieving both the short-term and long-term objectives of the company.

Our 2023 annual audit has successfully concluded, and it brings me great pleasure to announce that, in spite of the global economic turbulence, the Ahtna family of companies has achieved positive earnings for the eleventh consecutive year. Looking to the future, our focus will be on overcoming the obstacles our subsidiaries encountered last year, while preserving the valuable insights we’ve gathered. The business environment remains complex, further complicated by the looming threat of a government shutdown, which has resulted in delays in contract awards. This, coupled with the challenges posed by weather patterns, fluctuating interest rates, inflation affecting industries like lumber, and ongoing supply chain and labor shortages, adds to the intricacy of our operations. As summer approaches, we are enthusiastic about wrapping up several projects and launching new ones, continuing our unwavering commitment to growth and excellence.

Ahtna Marine & Construction Company (AMCC) successfully completed the Mason’s Inlet dredging and beach renourishment project for New Hanover County in North Carolina, aimed at combating erosion near Wilmington’s Figure Eight Island. This critical project not only maintained the inlet but also enhanced the beachfront, importantly coinciding with the sea turtle nesting season. AMCC’s efforts were well-received by the community, particularly praised by a local resident who appreciated the positive changes and highlighted employee Dave Martin for his exceptional community engagement. You can read more about this project on page 4.

Ahtna Design Build, Inc. has been awarded a design-build contract for a major renovation project at McConnell Air Force Base in Wichita, KS. The project encompasses a comprehensive overhaul of a dormitory, including updates to the building’s exterior skin and roofing, as well as improvements across various other trades. This significant task order underscores the military’s dedication to substantial infrastructure enhancements and increased support for the personnel stationed at the base.

Ahtna Construction & Primary Products Company, LLC (AC&PPC) has successfully won the contract for Big Lake’s West Lakes Blvd Reconstruction project in Palmer, Alaska. This project will revamp the 1.7-mile section of Lakes Boulevard, focusing on road reconstruction and repaving, embankment widening, and the installation of new culverts to enhance fish passage. These improvements are expected to enhance safety and reduce future maintenance needs. With an aggressive timeline, the project is aimed for substantial completion by the end of summer, demanding a rigorous 60-day schedule that includes excavation, clearing, and paving. This accomplishment not only showcases the team’s expertise and coordination but also strengthens our company’s reputation for excellence and competitive positioning in the industry.

We are delighted to announce that in 2023, both AC&PPC and A.A.A. Valley Gravel, LLC achieved significant safety milestones, maintaining zero recordable incidents or days away from work throughout the year. This success is a testament to their steadfast commitment to safety, encompassing regular training sessions, strict adherence to safety protocols, and fostering a culture that emphasizes the well-being of every team member. We extend our heartfelt thanks to the safety committees, management, and all employees whose diligent efforts have contributed to this notable achievement. Our commitment to ongoing safety improvement aims not only to preserve this standard of excellence but also to establish new industry benchmarks. We are grateful to everyone at AC&PPC and AAA for their unwavering commitment to safety and look forward to continuing these high standards in the future.

As shareholders, your right and responsibility to vote in our elections are crucial. I encourage you to engage by casting your proxy and attending Ahtna’s 51st Annual Shareholders Meeting on June 8th. This meeting, along with communications like this newsletter, offer a chance for you to keep updated on our company’s activities and news. We also greatly value your input and would appreciate hearing from you! Please refer to the comment card included in your proxy packet for details on how to send your questions and comments to Ahtna’s leadership team.

Thank you,
Roy Tansy Jr., Chief Executive Officer

Ahtna Netiye’, LLC