Dear MTNT Shareholders,

When I wrote to you in the spring, I spoke about listening and learning. Since then, our team has been focused on strengthening the foundation of our business while positioning MTNT for future growth. I am proud of the progress we have made across multiple areas of the Corporation.

At McGrath Light & Power (ML&P), we have remained focused on reliability and stewardship of critical community infrastructure. This year, we worked to address long-standing maintenance needs and strengthen the utility’s operational readiness. In addition to completing important maintenance activities, we have established broader technical and infrastructure support relationships that provide access to specialized expertise when needed. We have also made significant progress in ensuring our engine fleet receives the maintenance and support necessary to continue delivering dependable service to our customers.

One important achievement was the successful completion of Cybersecurity Maturity Model Certification (CMMC) Level 1 requirements. While this milestone may not be visible to most Shareholders, it represents an important investment in protecting information, maintaining compliance, and ensuring MTNT stays competitive for federal contracting opportunities. We remain committed to enhancing our cyber capabilities and using this foundation to support existing customers, compete for new work, and expand MTNT’s presence in the federal marketplace.

Our construction and technical services teams have also continued to demonstrate their capabilities in a highly competitive marketplace. Over the past several months, the construction division has secured new contracts that expand our portfolio with new federal customers and create opportunities for continued growth. These wins reflect the quality of our workforce, the reputation we have built with customers, and our commitment to safe and professional execution.

One of my highlights of the year was attending the Annual Meeting and having the opportunity to speak directly with many Shareholders. Following the Annual Meeting, I had the opportunity to return to McGrath for the Tanana Chiefs Conference Subregional Meeting and to attend the Tochak burial ceremony. Each of these experiences served as powerful reminders of the cultural heritage, traditions, and values that connect our communities. Spending time in the region and engaging with community members have been helpful reminders of the importance of ensuring that MTNT’s success remains connected to the people and places we were created to serve.

Looking toward the future, we are also actively exploring opportunities to support responsible resource development in our region. MTNT has been engaged in preliminary efforts to help position proposed mining projects for future success. While these opportunities remain in the early stages, responsible development has the potential to create long-term economic benefits for our Shareholders and communities. As this work progresses, we will continue to evaluate opportunities carefully and with a focus on protecting Shareholder interests.

Throughout my first nine months as CEO, we have strengthened our operational foundation, enhanced critical infrastructure, and continued building relationships with Shareholders and community partners. None of this would be possible without the hard work of our employees, the guidance of our Board of Directors, and the support of our Shareholders.

Thank you for your trust and continued engagement. I look forward to the opportunities ahead and to continuing our work together to build a stronger MTNT for future generations.

Sincerely,

Richard Marshall