Pedro Bay Corporation3201 C Street, Suite 604 | Anchorage, Alaska 99503 | 907.277.1500

Dividend and Investment StrategyThe Pedro Bay Corporation’s (PBC)

Board of Directors at its February meet-ing approved several measures that will ultimately benefit shareholders and El-ders, while boosting annual dividends.

The Board approved a new invest-ment policy through a partnership with Alaska Permanent Capital Management. As a result, shareholders will see a more consistent approach to dividend distri-bution, beginning in the fourth quarter of 2014.

The decision to establish an an-nual payment per share came during the Board’s quarterly meeting Feb. 22, 2014. The dividend is part of a five-year strategic plan that calls for a signifi-cant increase in shareholder dividend distributions beginning with the fourth quarter payment.

The portfolio will have a distribution formula of 3.5 percent of the rolling 5-year-end average of the portfolio, paid annually.

The plan also calls for annual increas-es in the dividend through fiscal year 2019. More than $230,000 in dividends have been distributed to the corpora-tion’s 177 shareholders since 2009. The new strategic plan projects $270,000 in shareholder dividend distributions over the next five years.

The board also voted to increase the annual contributions to the PBC Ben-efits Corporation by $15,000. The PBC Benefits Corporation provides benefits and opportunities for PBC shareholders. This benefits program is administered by the regional corporation’s nonprofit foundation, Bristol Bay Native Corpora-tion Education Foundation. The plan includes funding the elder dividend program, with details to be released later this year.

Historically, PBC has paid one-third of its 7(j) earnings in the form of share-holder dividends.

“We want to make sure we sustain that level into the future while also ensuring the future financial health and prosperity of our corporation,” said Rayn Aaberg, PBC President and CEO. “Our corporate values have supported the success of PBC in becoming a million-dollar corporation, and the action of the board demonstrates our commitment to the shareholders of Pedro Bay, the strength of the corporation and our Alaska Native heritage.”

Aaberg said the board’s actions support the corporation’s mission of “serving its shareholders by optimizing profits and providing dividends and benefits, while preserving our heritage and managing our premier lands.”

The long-term goals of PBC: build-ing financial strength for the future, payment of consistent and increasing dividends, promotion of shareholder development and educational oppor-tunities, and positioning the corpora-tion to have a major voice in economic development in the Lake and Peninsula Borough and Bristol Bay Region.

Shareholder Spotlight: John Reeb

I would like to say a very heartfelt thank you to PBC after my gradua-tion from the Construc-tion Equipment Training (CET) Program. They are responsible for dramatically changing my life by offering me the opportunity to attend Northern Industrial Training’s (NIT) Heavy Equipment and Professional Truck Driving Course.

I attended this course for eight

Pedro Bay Corporation3201 C Street, Suite 604 | Anchorage, Alaska 99503 | 907.277.1500

Dena’ina QenagaMarch 2014

Dividend and Investment StrategyWorking with BBRSSTEP Grant TrainingSave the DateShareholder Spotlight

Opportunities: TrainingLooking for a career? How about

operating heavy equipment? Driving a semi or a dump truck? Pedro Bay Corporation offers STEP Grant Training Opportunities to help pay for an eight-week construction equipment training and pro truck driver courses. The next class is May 5-June 27 in Palmer, Alaska. Contact Rayn at (907) 277-1500 or raaberg@pedrobaycorp.com.

Save the Date:The Pedro Bay Corporation annual

meeting has changed to the first week of December. The meeting, which will be held in Anchorage, was moved to better accommodate seasonal work and fishing schedules. We hope more of you will be able to attend. We’ll send more information soon.

Did you know …?The Good Friday earthquake struck

Alaska 50 years ago this month, on March 27, 1964. The magnitude 9.2 earthquake and tsunami resulted in the deaths of 139 people, caused more than $300 million in property loss, and physically altered the landscape of Southcentral Alaska and Kodiak. The quake was felt around the world, and still ranks as the most powerful in North America, and second in the world.

Got news to share?Let us hear from you! Send us your

announcements about births, deaths and other news you’d like to share with our shareholders. Photos are welcome and encouraged. Send your news and photos to info@pedrobaycorp.com.

Help us connect! Please forward this newsletter to other Pedro Bay shareholders and descendants. And encourage them to send us their updated email and mailing addresses if they didn’t get the newsletter. Send updated contact information to info@pedrobaycorp.com.

Pedro Bay Corporation3201 C Street, Suite 604 | Anchorage, Alaska 99503 | 907.277.1500

weeks, from Sept. 9 to Nov. 1, 2013. Upon completion, I had earned my Commercial Driver License, Class A (CDL-A), allowing me to drive commer-cial trucks with tankers, doubles, triples and hazardous materials endorsements. I also earned a national certification as a heavy equipment operator.

Now, instead of an out-of-work sea-sonal construction worker, I am a full-time, year-round truck driver for Lynden Transport, with wages between $75,000 and $85,000 a year.

PBC helped me obtain a State Train-ing and Employment Program (STEP) grant funding, which helped cover the $12,000 tuition. Without that help, I would never have been able to at-tend NIT. There were also scholarships available from the Pedro Bay Benefits Corporation to assist with cost of living expenses during training.

I would also like to personally thank Rayn Aaberg for all his hard work and obvious dedication to our corporation. Without such caring, hard-working professionals in positions such as his, I believe even more jobs and opportuni-ties would be lost to Outsiders! Thank you Rayn!

I highly recommend the NIT program to anyone interested. Apply for the next eight-week course coming up in the spring 2014. From what I have seen, there are many jobs available to anyone who earns their CDL-A, you can pretty much work where ever you want to!

John Michael Reeb Jr.

www.nitalaska.com

Working with BBRSPedro Bay Corporation has partnered

with Bristol Bay Resource Solutions, LLC (BBRS), for its administration, and mar-keting and communication services.

BBRS is a subsidiary of our regional corporation Bristol Bay Native Corpora-tion. It is a shared services company that provides accounting, contracts admin-istration, communications, information technology and human resources to

BBNC subsidiaries and other clients.

Utilizing BBRS for our administra-tive functions will provide PBC no-table cost savings. BBRS’ mission is to provide high-quality, best-in-class professional administrative services in a responsive and cost-effective manner, supporting BBNC and its subsidiaries in joint efforts to exceed customer expectations, gain competi-tive advantage, maximize profitability and promote shareholder hire.

Working with BBRS saves PBC from trying to directly hire qualified HR and accounting staff (and hoping they don’t get sick!), and provides us with a team of professionals who are easily accessi-ble and continually working to provide us with cost-effective solutions.

If you have any questions about this partnership, contact Rayn Aaberg. To learn more about BBRS, visit www.bbrs-llc.com.

You’ll see some signs of the PBC/BBRS partnership soon. The BBRS Communications team has just started work to rebuild our website and boost our presence on social media. They help communicate these changes to our shareholders.

The website will feature information about PBC and its subsidiaries, and up-to-date information on events and opportunities.

We’ll also launch a new Facebook page. Stay tuned for more about these exciting

changes!

Congratulations to the recent recipients of Pedro Bay Benefits Corporation scholarships.

The Pedro Bay Benefits Corporation offers two types of scholarship programs targeted to Pedro Bay Corporation shareholders throughout the school year. The first is the Post-Secondary Higher Education/Vocational Education Scholarship and is administered by the BBNC Education Foundation. Applications are accepted throughout the year. The scholarship program is limited by budget.

The second scholarship program is the Short-Term Vocational Education program and is targeted toward financial assistance to attend short-term training to enhance work or career opportunities. Awards under this program range between $150 to $600 per scholarship, depending on the cost and length of the training. There is a maximum of one scholarship per program and one scholarship per year. This program is also limited by budget.

To be eligible for either of these programs, you must be a shareholder of Pedro Bay Corporation. Other eligibility requirements are noted in the applications. Applications are available from the Pedro Bay Benefits Corporation or from the Bristol Bay Native Cor-poration Education Foundation, which administers the program at, (907) 278-3602 or www.pedrobaycorp.com/Pedro-Bay-Benefits-Corporation.

Scholarship Higher Education/Vocational Education Recipients for 2013/14 school year:•Ethan J. Atwater, $3.,400, attending Whitworth University•Elijah R. Jensen, $3,400, attending University of Alaska Anchorage•Brandon K. Jensen, $3,400 attending University of Alaska Fairbanks

Short-term Vocational Education Awards fall 2013:•John M. Reed, $400, Eight-week Construction Equipment Training through Northern Industrial Training•Angel Robinson-Sweat, $400, Health Safety and Environmental Technician Training through Northern Industrials Training•Shawn Martin, $400, Health Safety and Environmental Technical Training through Northern Industrial Training