Investor Presentaiton

Seafood Industry Challenges Unlike many other places, most Alaska fish resources are healthy and not over- fished. However, falling prices caused a sharp decline in value during the 1990s, particularly in the salmon industry, which faced an economic crisis. Since 2002 prices and value have been increasing again. The management of many fisheries is being "restructured" to restrict the number of boats participating and to create fishing rights which may be bought and sold. This process is very controversial, because it significantly affects who participates in and benefits from Alaska fisheries. Real Ex-Vessel Value of Alaska Seafood Harvests 2,500 2,000 Competition from salmon farming led to a sharp drop in salmon prices in the 1990s. Fish farming is growing rapidly worldwide, but is banned in Alaska. millions of 2008 dollars 1,500 1,000 500 1960 1965 1970 Source: National Marine Fisheries Service Groundfish Shellfish Halibut Herring Salmon FRIENDS DON'T LET FRIENDS EAT FARMED FISH SUPPORT ALASKA'S WILD FISHERIES 30 30

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