Dear MTNT Shareholders:

I am delighted to announce the successful completion and acceptance of the Scammon Bay Project by the owner, the Lower Yukon Kuskokwim School District. Rather than dwelling on the recent challenges we have overcome, we are leveraging the lessons learned to strengthen our commitment to operational excellence for the long-term sustainability and success of MTNT.

Our executive management team has collaboratively developed the 2023-2027 Strategic Plan, recently approved by the Board of Directors. This plan outlines comprehensive goals with a sharp focus on financial stability, operational efficiency, human resource management, corporate governance compliance, and Shareholder relations. Additionally, the plan aims to support economic growth in the region, recognizing the challenges posed by the exorbitant cost of living and the declining population.

MTNT’s goals over the next three years include assessing McGrath rental properties for opportunities to increase energy efficiency and reduce heating costs, as well as upgrading McGrath Light & Power electric distribution lines to modernize infrastructure and explore renewable energy options, while analyzing operating costs.

As we acknowledge that MTNT is a crucial part of the Region’s economic wheelhouse, we have intensified collaboration with key stakeholders and partners to address shared concerns, promote sustainable development initiatives, and provide meaningful opportunities. MTNT’s participation in the McGrath Energy Planning Committee meetings, focused on community energy resiliency planning facilitated by the National Renewable Energy Laboratory, exemplifies our commitment to these initiatives.

During a recent three-day energy resiliency planning workshop in McGrath, in collaboration with McGrath Light & Power, McGrath Native Village Council and the City of McGrath, we identified energy priorities that align with MTNT’s strategic goals. The community energy resiliency plan, once finalized, will serve as a valuable tool to help MTNT secure funds for projects addressing these priorities.

While I eagerly anticipate sharing MTNT’s 2023 Financial results with you after the completion of the annual audit and publication of the Annual Report, I can reveal that Shareholders’ Equity continues to steadily increase, reporting above $15 million for 2023.

I look forward to providing more insights into MTNT’s financial results, performance, and operations in the 2023 Annual Report. I also anticipate sharing our successes and endeavors with you and your families at the 2024 Annual Meeting to be held in McGrath this summer.

Please ensure your address is up to date to receive the latest MTNT news, including the 2024 Annual Meeting of Shareholders Notice, 2023 Annual Report, and Proxy Packet to be mailed this summer.

Until we meet again, may you all stay healthy and strong.

Sincerely,

Michele Christiansen
Chief Executive Officer