SETTLEMENT TRUST

The Chenega Corporation Settlement Trust (CCST) is a special Trust authorized by the Alaska Native Claims Settlement Act of 1971 (specifically, 43 USC 1629e). The CCST was established by an 87% Chenega Corporation shareholder Trust Instrument approval vote on December 4, 1995. The Chenega Corporation Settlement Trust is designed to provide consistent distributions to Trust beneficiaries in perpetuity.The CCST is an entity separate from Chenega Corporation, however all Chenega Corporation shareholders automatically become beneficiaries of the Chenega Corporation Trust.The CCST Board of Trustees, comprised of five Chenega Corporation Settlement Trust beneficiaries, serve as Trust guardians.To date, the CCST has distributed nearly $4 million to its beneficiaries.