What is the Elders' Trust?

The Elders' Trust is a settlement trust approved by shareholders at the 2025 Annual Meeting. The Elders' Trust is designed to benefit shareholders with voting stock upon reaching the age of 60. Similar to the Tináa Distributions Trust (PDF for more info), distributions to shareholders through the Elders' Trust are exempt from federal tax — but unlike the Tináa Distributions Trust, the Elders' Trust is allowed to invest its assets with the goal of generating revenue to fund shareholder benefits in perpetuity.

The Ancestral Trust, the Tináa Distributions Trust, and the Elders' Trust are all separate distribution instruments serving distinct needs within our shareholder community, all funded by Goldbelt but managed by their own boards of trustees.

How will distributions be distributed?

The Elders' Trust holds assets in a permanent fund-type trust. At least annually, the Board of Trustees assesses all pertinent factors to determine the maximum amount that can be prudently distributed to shareholders. The Board determines the maximum possible distribution consistent with the Trust’s primary priority of ensuring the value of the principal of trust assets is not diminished over the long term by distributions, the effects of inflation, or investment losses.

Who is eligible to receive dividends from the Elders' Trust?

Goldbelt shareholders with voting stock who are age 60 or older.

Will the Elders' Trust reduce my regular fall dividend?

No. The Elders' Trust does not reduce the amount of distributions to Goldbelt's voting shareholders through the Tináa Trust. The amount contributed by Goldbelt from its annual operating income to the Tináa Trust is set by the Board’s Distribution Policy and is not affected by contributions to the Elders' Trust.

Here’s how it works:

The Elders' Trust is a separate, self-sustaining fund established solely to provide annual dividends to shareholders age 60 and older. Like the Ancestral Trust, it invests funds contributed by Goldbelt to generate earnings for distributions. Once fully endowed — estimated by 2030 — it will provide an independent source of distributions for qualifying Elders.

Importantly, this trust is independent of Goldbelt Inc.’s corporate earnings. It does not affect the regular fall distribution that all voting shareholders receive through the Tináa Trust. Instead, it creates long-term funding — similar to the Alaska Permanent Fund — that can provide distributions to Elders even in years when the corporation’s financial performance varies.

Am I eligible for dividends from the Elders' Trust?

To be eligible for a distribution from the Trust, Goldbelt shareholders must have voting shares and be age 60 or older on the record date set by the Trustees. To have voting shares, you must be an Alaska Native or descendant of an Alaska Native by birth or legal adoption.

Goldbelt’s Elder Stock is not counted as a share for the purpose of being a beneficiary or receiving benefits from the Elders' Trust.

How do I know if I am a voting or non-voting shareholder?

Shareholders with Alaska Native heritage by birth or legal adoption are voting shareholders. Over 96% of Goldbelt shareholders are voting shareholders. If you are unsure of your status, please contact Shareholder Services at 907-790-4990.

What are the benefits of making distributions through the Elders' Trust?

• The distributions made by the Trust will not be counted as taxable income and will be free of federal income tax for shareholders.
• Making contributions to the Elders' Trust also offers Goldbelt the possibility for federal tax savings.
• The benefit of the Elders' Trust is that funds can be held, invested, and managed to provide benefits in perpetuity.

What are the tax implications?

Shareholders will pay no federal income tax on distributions made from the Elders' Trust. Shareholders may still have to pay state income tax, where applicable. Alaska and Washington — where most Goldbelt shareholders reside — do not have state income tax, so shareholders living in those states will pay no tax on their dividends.

What is the difference between the Goldbelt Ancestral Trust, the Elders' Trust, and the Tináa Distributions Trust?

• The Goldbelt Ancestral Trust (Est. 2014): Operates primarily as a “permanent fund,” distributing a portion of its investment earnings each year to its beneficiaries pro rata, in proportion to the number of shares they own.
• The Goldbelt Tináa Distributions Trust (Est. 2019): Provides distributions and scholarships to shareholders from funds contributed by Goldbelt for such purposes. It may also provide Elders' benefits but cannot invest its assets to generate income (i.e., not a permanent fund).
• The Goldbelt Elders' Trust (Est. 2025): A permanent-fund-type trust dedicated to funding distributions to elder shareholders in perpetuity. Distributions begin at age 60.

Has the Elders' Trust been approved?

Yes. The Elders' Trust was approved by shareholders at the 2025 Annual Meeting of Shareholders. It was included on the proxy and passed by a majority of voting shares present or represented by proxy.