Investor Presentaiton

-10,000 40,000 Natural increase and migration drive changes in Alaska's population. Alaska population change is the combined result of natural increase (births minus deaths) and net migration (people moving in minus people moving out.) Alaska's rapid population growth during the 1970s and early 1980s was driven by net in-migration: people moving to Alaska. The history of booms and busts in Alaska's economy can be seen by periods of net in-migration and periods of net- outmigration. Since the 1990s most of the growth in Alaska's population has been due to natural increase. Cold-war 30,000 construction and military build-up 20,000 10,000 1945 1950 1955 Alaska Population Natural Growth and Net Migration, 1946-2008 1975 -20,000 End of pipeline boom Source: Alaska Department of Labor and Workforce Analysis, Research & Analysis, Demographics Unit. -30,000 1980 Pipeline construction, 1974-77 1985 1990 State spending boom, early 1980s Severe 9661 2000 2005 national recession, 2009 & 2010 2010 Alaska recession after oil prices crashed in 1986 7

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