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Home My WebLink About2026-03-20_BPMC-AgendaBRADLEY LAKE PROJECT MANAGEMENT COMMITTEE MEETING AGENDA March 20, 2026 10:00 AM To participate dial 1-888-585-9008 and use code 212-753-619# Jim Mendenhall Ryan McLaughlin Martin Law Mark Ziesmer 1.CALL TO ORDER 2.ROLL CALL (for Committee members) 3.PUBLIC ROLL CALL (for all others present) 4.AGENDA APPROVAL 5.PUBLIC COMMENTS 6.APPROVAL OF MEETING MINUTES – January 16, 2026 7.NEW BUSINESS A.FY27 BPMC Budget 8.OLD BUSINESS A.AEA Capital Project Financing B.Dispute Resolution Process – Wheeling Services Agreement C.CIPLink Update D.Bradley Lake Expansion Project Update E.SQ Upgrade Update 9.OPERATORS REPORT 10.COMMITTEE REPORTS A.Budget vs. Actuals B.O&D Report Josh Crowell 11.EXECUTIVE SESSION – (Bylaws Section 5.11.4) – To discuss confidential financial matters theimmediate knowledge of which would clearly have an adverse effect upon the finances of theAuthority of the Project. 12.MEMBERS COMMENTS 13.NEXT MEETING DATE – May 1, 2026 14.ADJOURNMENT ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 1 of 9 BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE (BPMC) REGULAR MEETING AGENDA January 16, 2026 1. CALL TO ORDER Chair Tony Izzo called the meeting of the Bradley Lake Hydroelectric Project Management Committee to order at 10:01 a.m. A quorum was established. 2. ROLL CALL (for Committee members) Tony Izzo (Matanuska Electric Association [MEA]); Andrew Laughlin (Chugach Electric Association [CEA]); Travis Million (Golden Valley Electric Association [GVEA]); Larry Jorgenson (Homer Electric Association [HEA]); Brian Hickey (City of Seward); and Curtis Thayer (Alaska Energy Authority [AEA]). 3. PUBLIC ROLL CALL (for all others present) Jennifer Bertolini, Mark Billingsley, Patrick Domitrovich, Pamela Ellis, Josi Hartley, Ryan McLaughlin, Jim Mendenhall, William Price, Robert Varga, Mark Ziesmer (AEA); Joel Paisner (Ascent Law Partners); Chris Koehler, Mike Miller, Paul Millwood (CEA); Sarah Villalon (GVEA); Sarah Lambe, Martin Law, Jessica Spuhler (HEA); Analswad Elm (Koniag Energy & Water); Josh Crowell, Kim Henkel, David Pease, and Tony Zellers (MEA). 4. AGENDA APPROVAL MOTION: A motion was made by Mr. Thayer to approve the agenda. Motion seconded by Mr. Hickey. A roll call was taken, and the motion to approve the agenda passed unanimously. 5. PUBLIC COMMENTS - None. 6. APPROVAL OF MEETING MINUTES – December 5, 2025 MOTION: A motion was made by Mr. Thayer to approve the Minutes of December 5, 2025. Motion seconded by Mr. Hickey. A roll call was taken, and the motion to approve the Minutes of December 5, 2025, passed unanimously. 7. NEW BUSINESS - None. ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 2 of 9 8. OLD BUSINESS A. 2026 BPMC Meeting Schedule Mr. Thayer explained that members were provided the proposed 2026 BPMC meeting schedule at the previous meeting. There were no comments or questions. MOTION: A motion was made by Mr. Thayer to approve the 2026 proposed BPMC meeting dates, as presented in the Board packet under 8A. Motion seconded by Mr. Hickey. Chair Izzo commented that the Committee has been flexible in the past if issues arise. The proposed schedule allows firm meeting dates to be set, and the Committee is willing to address changes throughout the year, if necessary. There were no other questions or comments. A roll call was taken, and the motion passed unanimously. B. 2021 REF Funding for Bradley Expansion Chair Izzo requested Mr. Thayer to give the presentation. Mr. Thayer explained that in 2021, the BPMC, through CEA, applied to the Renewable Energy Fund for a $1 million matching grant for the Dixon Diversion project. The grant was awarded, and the work has begun. Formal action has not been taken to collect the funds from the utilities. Chair Izzo explained that this item is a formal request that the BPMC pay the matching $1 million. He noted that the agreed upon percentage of payment is the same as the percentage of project capacity. MOTION: A motion was made by Vice Chair Laughlin that the utility purchasers under the Bradley Lake Hydroelectric Project provide matching funds in accordance with the Renewable Energy Grant Fund Award Number 7014022 in the total amount of $1 million, allocated based on each utilities’ percentage share of project capacity; Chugach Electric Association at 56.3%, Homer Electric Association at 12%, Matanuska Electric Association at 13.8%, Golden Valley Electric Association at 16.9%, and Seward Electric System at 1%. Motion seconded by Mr. Thayer. A roll call was taken, and the motion passed unanimously. C. CIPLink (Grip 3, Phase 1) Update Jim Mendenhall, AEA, reported on the Cook Inlet Power Link (CIPLink) update. Mr. Mendenhall noted that the process review occurred in May. The approval was conducted in September, which was closely followed by the government shutdown through November 12. 2025. Mr. Mendenhall was happy to report that full engagement has resumed with the Department of Energy (DOE). He discussed that AEA is working closely with Stantec and HDR on the environmental review and the marine survey work that will occur in 2026. In subsequent years, ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 3 of 9 additional geotechnical work will be conducted. The National Environmental Policy Act (NEPA) permit has been obtained. Mr. Mendenhall discussed that Stantec is working on the major equipment procurement, including the HVDC converters and cables. They are expected to provide preliminary procurement documents before the phased procurement approach. A seminar will be given at the end of February for the technical working group and the BPMC. Mr. Mendenhall informed that notice should be given next week. Mr. Mendenhall reviewed that the configuration supports an initial 100 MW installation, while preserving the ability to expand to 200 MW. He noted that Stantec and EPS have focused on the existing AC system, and discussions are ongoing regarding the options for the actual termination point. Mr. Mendenhall reported that AEA has done much work on the financing, and Mark Billingsley, AEA, will provide additional information under Agenda Item 8F. The budget period has been finalized for a two-year period, beginning January 1, 2025. Invoices have been submitted and paid through June 30, 2025. Mr. Mendenhall noted that AEA is in a good position with the DOE to move into the next phase of the project. There were no comments or questions. D. Bradley Lake Expansion Project Update Ryan McLaughlin, AEA, provide the Bradley Lake Expansion Update. Mr. McLaughlin discussed that staff is vigorously working towards submitting the Federal Energy Regulatory Commission (FERC) draft license amendment application. It is on track to be submitted in the first or second week of February. The amendment will include a 16-foot pool raise. Next week, AEA is hosting a workshop with the utilities to compare different raise configurations and operational changes. The invitations have been sent to the Operations and Dispatch(O&D) Committee members. Mr. McLaughlin stated to please contact him if anyone else wants to participate. Additionally, a construction sequencing and scheduling workshop will be held with the engineering team on January 27, 2026. During the meeting, the overall project schedule will be reviewed and refreshed. Mr. McLaughlin noted that AEA is analyzing different procurement strategies, including a Construction Manager / General Contractor (CM/GC) model. Evaluation of the costs and benefits of this strategy is ongoing. The second Board of Consultants (BOC) meeting occurred in October. The report included approximately 61 comments from the BOC. Responses will be submitted to FERC. Most of the comments related to the Probable Maximum Flood (PMF) study and the Seismic Hazard Analysis. Mr. McLaughlin noted that the PMF study is ongoing, and that that the drainage area in Bradley Lake is much larger than the initial 1982 calculations. The current configured spill area would not pass the new PMF. It is likely that in the absence of the Bradley Lake Expansion Project, modifications to the dam and the spillway would be necessary during relicensing in 2035. Mr. McLaughlin explained that AEA’s procurement team is working to purchase a 3-phase transformer. The design for the remaining power upgrades from the powerhouse to the dam is ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 4 of 9 90% complete. Funding options are being reviewed, and the procurement target date is July. Mr. McLaughlin discussed that the 2026 subsurface investigation plan is ongoing, with the drilling of two deep boreholes along the tunnel alignment to occur in late June or early July. The estimated cost is between $2 million and $3 million. The third BOC meeting will be scheduled onsite to overlap with the drilling. AEA is working with the engineers to update the construction cost estimate. It is expected within the next month. The design has progressed significantly since the previous cost estimate and includes the tunnel lining and the 16-foot raise. Mr. McLaughlin commented that staff is reviewing seven environmental reports from 2025. The hope is to publish those reports within a couple of weeks. The picture included in the presentation shows the Battle Glacier, which is upstream of the diversion. There were no comments or questions. E. SQ Upgrade Update Jim Mendenhall, AEA, noted that he will provide a brief introduction, and then Chris Kohler, CEA, will give project specifics. There was no objection. Mr. Mendenhall discussed that the memorandum included in the packet reviews Phase 1 of the SQ, and outlines Phase 2 and Phase 3. The preliminary costs are listed in the memorandum. Additionally, information is included regarding the Soldotna to Sterling Substation Line (SS Line). The SS Line is owned by HEA. The project was planned to be constructed but was postponed due to a substantially higher steel bid cost, and longer than anticipated delivery time. The updated cost is $36 million. The project work is tentatively scheduled for the winter of 2028/2029. This timeline needs to be confirmed with HEA. Mr. Mendenhall reviewed page three of the report and noted the work with EPS on the upgrades for the Soldotna, Sterling, and Quartz Creek substations. Those upgrades total approximately $49 million. This work needs to be finished prior to the completion of the entire upgrade. There were no comments or questions. Mr. Kohler gave the update on the Sterling to Quartz Creek project. In December, the U.S. Fish and Wildlife Service published the final environmental assessment. The final finding issued by both the U.S. Fish and Wildlife Service and the Forest Service was the finding of no significant impact. Additionally, the Record of Decision (ROD) approving the project was issued. This was the culmination of a couple of years of work-in-progress. Work continues with the U.S. Fish and Wildlife Service to obtain the formal permit for construction. Mr. Kohler discussed that the contract was issued for the steel poles for Project 2. The first round of vendor drawings is scheduled to be reviewed and approved on January 26, 2026. The engineering team has submitted all the permit applications to the different agencies for construction approval, with a target start date this fall. Engineering has finalized the bill of materials for Project 2, and it is under review by CEA. Procurement is expected to begin in February. ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 5 of 9 Mr. Kohler noted that Project 3, the remaining field work for geotechnical investigation, was completed in December. A preliminary report is expected to be released in February, which will conclude the geotechnical work for the project. There were no comments or questions. F. Bradley Lake Expansion and CIPLINK Financing Update Mark Billingsley, AEA, provided the Bradley Lake Expansion and CIPLINK Financing Update. Mr. Billingsley discussed that he has been involved in a coordinated team to determine the most cost-effective way to finance the two large capital projects. He showed the current cost estimates for both projects. Approximately $20 million has been raised for the Bradley Lake Expansion project, which leaves a gap of approximately $342 million. Approximately $270 million has been raised for the CIPLINK project, which leaves a gap of approximately $142 million. Mr. Billingsley noted that the third quarter of this year is the target date to secure funding for both projects. He reviewed the construction cost timeline outlined in the presentation. Mr. Billingsley discussed the potential financial partners, and noted that staff is applying through two of the USDA RUS programs to determine the level of eligibility and funding amount. Similarly, efforts are being made with two DOE EDF programs to determine the level of eligibility and funding amount. Mr. Billingsley advised that the Bradley Lake Expansion project is eligible to issue tax-exempt bonds. The allocation of the State of Alaska’s volume cap was received in November of 2025, and was set at $342 million. Mr. Billingsley noted that this option has to be acted upon by the end of 2028. The CIPLINK project is not eligible to issue tax exempt bonds. Mr. Billingsley reviewed the final options of the public market through NRUCFC and taxable bonds. Mr. Billingsley discussed the efforts relating to tax credits, including eligibility and maximization under the investment tax credits. The matrix to determine the optimal solution for the financing is complicated. Mr. Hickey asked if there was a particular reason that CoBank was not listed. Mr. Billingsley commented that he welcomes recommendations of other potential lenders, and he requested that Mr. Hickey email the information. Mr. Hickey agreed. Mr. Hickey asked if the taxable bonds include both the public and private markets. Mr. Billingsley agreed. He noted that the other options are likely cheaper. Mr. Thayer commented that the focus has been on the listed six potential financial partners in the presentation because they all provide below market rates. Any additional potential financial partners would provide at-market rates. Mr. Thayer believes there will need to be some sort of stacking for the financing. Mr. Billingsley noted that the next Bradley Lake Expansion project update will be given to the AEA Board in April. Mr. Billingsley asked Mr. Thayer to walk through the Bradley Lake Expansion project timeline. Mr. Thayer discussed that the BPMC, the utilities, and the AEA Board will ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 6 of 9 approve the draft term sheets. After that process, then an approving resolution will be passed by the AEA Board, and the closing will be finalized. He noted that this is an aggressive timeline and it is the best estimate at this point. Mr. Thayer explained that staff will be working simultaneously on the CIPLINK project. He noted that since the CIPLINK project already has a large commitment from the federal government, there are fewer doors to open for that financing. Chair Izzo expressed appreciation for the progress of these two projects. There were no other comments or questions. 9. OPERATORS REPORT Martin Law, HEA, advised that the Operator’s Report is included in the Committee packet. However, there is an additional item to discuss that is not included in the report because it occurred after the report was submitted. Mr. Law noted that during the week of January 5, 2026, the subzero temperatures reached -16 degrees. On January 9, 2026, the temperature began to rise above freezing. On January 10, 2026, at 2:30 a.m., the water flow fire alarm system was activated for Apartment D. The employee occupying the apartment woke up to the alarm and to water coming down from the living room ceiling. One of the sprinklers in the attic had frozen and failed. It began releasing water when it thawed out. Mr. Law reported that approximately 700 gallons of water was released into the attic before the water was secured. There is damage to the sheetrock, and insulation on both levels, and also damage to flooring on the upper level. The estimated cost of the repairs is $45,000. Mr. Law expects to be able to absorb most of that cost into the existing budget. Chair Izzo asked Mr. Law when the repairs are anticipated to begin, and if the situation presents any challenges in having enough room for employees and visitors. Mr. Law noted that there is some mold in the area, due to a previous incident. That remediation is scheduled to be performed on Monday. A contractor is on standby to come on January 28, 2026, to begin the repairs. The employee that is assigned to that housing is currently on leave for three weeks. When he returns, he will occupy one of the bedrooms in the crews’ quarters. The repairs will not inhibit or prevent any other visitors or contractors from coming onsite. Mr. Million commented that he understands it is rare to experience those types of low temperatures in that area. He asked what types of mitigation efforts are being analyzed during the repair process to prevent the scenario from happening again. Mr. Law commented that Yukon Fire is currently on site completing the control room upgrade of the fire system, he had them inspect the configuration. Mr. Law noted that the fire code has changed since the installation of that fire system in that building. The fire code no longer allows wet systems in attics in cold areas. Mr. Law discussed that the system will be abandoned in place, and the new system will be moved to a soffit ceiling installation. Otherwise, a dry system will need to be installed. ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 7 of 9 Mr. Million asked if there is insurance coverage on the property damage. Mr. Law noted that he has not yet explored the insurance coverage. He gave the report to Mr. McLaughlin, and they will discuss the next steps of reporting the incident. Chair Izzo thanked Mr. Law for the pictures provided in the report. There were no other comments or questions. 10. COMMITTEE REPORTS A. Budget vs. Actuals Mark Ziesmer, AEA, discussed the Bradley Lake Budget to Actual Expenses Report as of October 31, 2025. He explained that there was no FY26 activity recorded for Schedule A and Schedule E, which are Non-R&C Capital Projects for Bradley Lake, Battle Creek, and SSQ. The total O&M expenses were $2,062,193, which is $508,000 below budget. Most of the FERC categories are within or close to budget. Mr. Ziesmer noted that FERC 539 Miscellaneous Hydraulic Power Generation Expenses was over budget by $44,519 in contractual expenses. FERC 544 Maintenance of Electric Plan contractual expenses were over budget by $20,507, mostly due to braker and relay testing work. FERC 545 Maintenance of Miscellaneous Hydraulic Plant was over budget by $21,250 in contractual expenses. FERC 920 & 930 Administrative Expense was over by $35,099 in labor and benefits, due to higher than anticipated expenses. Mr. Ziesmer believes most of variances are related to timing and should normalize over the year. Mr. Ziesmer reviewed Schedule D Renewal and Contingency (R&C) Fund Disbursements and Repayments. The R&C expenses totaled $166,387 and covered the fire alarm system replacement and the Bradley Lake Expansion Project. The cumulative costs for the Bradley Lake Expansion Project since inception total $8,672,754. Mr. Ziesmer reviewed Schedule F Battle Creek O&M expenses. The total amount was $180,811, which is $63,784 below budget. Most of the costs in this section reflect the standard 4% allocation from Bradley Lake. Mr. Ziesmer reviewed Schedule I SSQ Line O&M expenses. The total expenses were $5,264, which is $86,029 below budget. The majority of the costs are related to overhead line maintenance. Mr. Ziesmer reviewed Appendix A, which is related to Bond Series 11 funding. The cumulative spending was $16,309,165. Of this amount, approximately $14 million was directly related to the SSQ Line upgrade work. The total costs for the Oscillation Dampening Service contracts were $1,390,306. There were no comments or questions. B. O&D Report Josh Crowell, MEA, presented the O&D Committee Report. Mr. Crowell indicated that the Dixon Diversion was discussed, and that Mr. McLaughlin gave a good synopsis earlier in the meeting. There were no comments or questions. ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 8 of 9 MOTION: A motion was made by Mr. Thayer to enter into executive session to (1) discuss confidential matters the immediate knowledge of which would have an adverse effect on the Authority or the project; and (2) confidential matters discussed with an attorney for the Committee or a member of the Committee, the immediate knowledge of which may have an adverse effect on the legal position of the Committee or the Authority. Motion seconded by Vice Chair Laughlin. A roll call was taken, and the motion to go into executive session passed unanimously. 11. EXECUTIVE SESSION: 10:55 a.m. - (Bylaws Section 5.11.4) –To discuss (1) confidential matters the immediate knowledge of which would clearly have an adverse effect upon the finances of the Authority or the Project; and (2) confidential matters discussed with an attorney for the Committee or a member of the Committee, the immediate knowledge of which could have an adverse effect on the legal position of the Committee or the Authority. The Committee reconvened its regular meeting at 11:46 a.m. Chair Izzo stated that no formal action was taken on matters discussed while in executive session. 12. MEMBERS COMMENTS Mr. Hickey expressed appreciation for the discussion. He is looking forward to moving forward in the future. Mr. Jorgenson echoed Mr. Hickey’s comments. Mr. Million expressed appreciation for the updates on the various projects. Vice Chair Laughlin thanked staff for the excellent reports and for the great information provided today. Mr. Thayer agreed it was very good meeting. He praised the AEA staff, particularly regarding the financing aspects. Mr. Thayer stated there is another trip to Washington, D.C. planned in a couple of weeks. Meetings are scheduled with the U.S. Department of Treasury to discuss tax credits, and meetings are also scheduled with all of the FERC Commissioners. He thanked Mr. Ziesmer for leading that effort and for being aggressive on the timeline that has been set. Chair Izzo echoed the previous comments of appreciation, especially to AEA and staff. He highlighted this significant point in time with the CIPLINK and Bradley Lake Expansion projects being the largest coordinated Railbelt projects in decades. There were no other comments. 13. NEXT MEETING DATE – March 20, 2026 ___________________________________________________________________________ BPMC Minutes 1/16/26 Page 9 of 9 14. ADJOURNMENT There being no further business for the committee, the meeting adjourned at 11:50 a.m. ____________________________ Tony Izzo, Chair __________________________ Curtis Thayer, Secretary ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT FY2027 PROPOSED BUDGET DATE: MARCH 20, 2026 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT 2027 PROPOSED Budget Contents Schedule Description Page # Summary FY27 PROPOSED Budget Summary 3 Schedule A Bradley Lake Capital Purchases (not funded by R&C) 4 Schedule B Bradley Lake Operations & Maintenance Budget 5 - 7 Schedule C Bradley Lake Monthly Utility Contributions 8 Schedule D R&C Fund Disbursements and Repayments 9 Schedule E Battle Creek Capital Purchases (not funded by R&C) 10 Schedule F Battle Creek Operations & Maintenance Budget 11 - 12 Schedule G Battle Creek Monthly Utility Contributions 13 Schedule H SSQ Line Capital Purchases (not funded by R&C) 14 Schedule I SSQ Line Operations & Maintenance Budget 15 Schedule J SSQ Line Monthly Utility Contributions 16 ` Page 2 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT 2027 PROPOSED Budget Summary A B C D E F G FY2024 FY2025 FY2026 FY2027 Inc(Dec) From FY2024 FY2025 Approved Approved Approved Proposed Prior Year Bradley Lake (excluding Battle Creek & SSQ Line shown below)Actuals Actuals Budget Budget Budget Budget Budget Revenues, Expenses & Changes in surplus Revenues Utility Contributions (sch C) 19,756,258 20,186,290 22,533,059 21,982,934 22,508,995 23,466,754 957,759 Interest Income 558,494 398,290 - 536,500 229,300 234,900 5,600 Other Revenue - 4,500 - - - - - 20,314,753 20,589,081 22,533,059 22,519,434 22,738,295 23,701,654 963,359 Expenses Operations & Maintenance (sch B) 6,788,254 7,007,455 7,290,435 7,695,321 7,711,376 8,489,950 778,574 Renewals/Replacements (R&C Fund Repayments) (sch D) 1,134,618 1,336,318 2,234,646 2,580,808 2,490,381 1,927,512 (562,869) Non R&C Capital Purchases (sch A) 289,857 381,209 948,000 150,000 521,000 1,116,150 595,150 Transfer To(From) R&C - (45,420) - - - - - Transfer To(From) Operating Reserve 107,019 (57,883) 48,188 80,977 3,211 155,715 152,504 Debt Service 11,995,004 11,967,402 12,011,790 12,012,328 12,012,327 12,012,327 0 20,314,753 20,589,081 22,533,059 22,519,434 22,738,295 23,701,654 963,359 Surplus (Deficit) - - - - - - - Other Project Costs - Battle Creek Revenues, Expenses & Changes in surplus Revenues - Battle Creek Utility Contributions (sch G) 3,138,548 2,247,866 3,707,875 2,265,097 2,428,860 2,219,229 (209,631) Interest Income 218,522 162,859 - 218,000 170,800 149,500 (21,300) 3,357,071 2,410,725 3,707,875 2,483,097 2,599,660 2,368,729 (230,931) Expenses - Battle Creek Battle Creek Operations & Maintenance (sch F) 441,218 521,650 490,268 600,938 733,784 580,748 (153,036) Renewals/Replacements (R&C Fund Repayments) (sch D) 934,898 - 1,104,000 - - - - Capital Purchases (sch E) 88,651 2,621 165,000 5,000 5,000 5,000 - Transfer To(From) Operating Reserve 22,134 26,569 14,579 22,134 26,569 (30,607) (57,176) Transfer To(From) Capital Reserve (58,284) (58,285) - (58,284) (58,284) (58,284) (0) Debt Service 2,948,314 2,890,030 2,948,314 2,890,030 2,831,745 2,773,461 (58,284) IRS Subsidy (1,019,859) (1,031,450) (1,014,287) (976,720) (939,154) (901,588) 37,566 Transfer to Arbitrage - 59,590 - - - - - 3,357,071 2,410,725 3,707,875 2,483,097 2,599,660 2,368,729 (230,931) Surplus (Deficit) - - - - - - - Other Project Costs - SSQ Line Revenues, Expenses & Changes in surplus Revenues - SSQ Line Utility Contributions (sch J) 423,766 571,892 743,555 727,072 684,197 968,197 284,000 Interest Income 104,084 25,890 - 66,200 17,700 16,900 (800) 527,850 597,782 743,555 793,272 701,897 985,097 283,200 Expenses - SSQ Line SSQ Line Operations & Maintenance (sch I) 77,920 190,998 307,000 343,878 273,878 289,878 16,000 Capital Purchases (sch H) - - - - - 250,000 250,000 Transfer To(From) Operating Reserve 7,376 (14,000) (6,000) 7,376 (14,000) 3,200 17,200 Transfer To(From) Capital Reserve - (21,235) - - - - - Debt Service 442,555 442,018 442,555 442,018 442,018 442,018 (0) 527,850 597,782 743,555 793,272 701,897 985,097 283,200 Surplus (Deficit) - - - - - - - Other Information Operating Reserve * 1,357,651 1,401,491 1,458,087 1,539,064 1,542,275 1,697,990 155,715 Operating Reserve - Battle Creek* 88,244 104,330 98,054 120,188 146,757 116,150 (30,607) Operating Reserve - SSQ Line* 15,584 38,200 61,400 68,776 54,776 57,976 3,200 Monthly Contributions 1,646,355 1,682,191 1,877,755 1,831,911 1,875,750 1,955,563 79,813 Monthly Contributions Battle Creek 261,546 187,322 308,990 188,758 202,405 184,936 (17,469) Monthly Contributions SSQ Line 35,314 47,658 61,963 60,589 57,016 80,683 23,667 *Required to be 20% of budgeted operating expense Page 3 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Capital Purchases (not funded by R&C Fund) Schedule A FY24 FY25 FY26 FY24 FY25 FY26 FY27 Actuals Approved Approved Approved Proposed Actuals Actuals @12/31/25 Budget Budget Budget Budget Install New Bradley Microwave System 45,215 - - 518,000 - - - Brush Hog for Front End Loader - 111,087 - 150,000 - - - JLG All Terrain Fork Lift- New Purchase 213,942 - - 190,000 - - - Replace BL#5 2009 F150 Crew Cab Pickup - 48,995 - 45,000 - - - Warehouse Heaters x2 (Replace) - - - 5,000 - - - ISO Shipping Containers x2 (Replace) 30,700 - - 40,000 - - - Replace 2012 Polaris Side by Side - 62,645 - - 65,000 - - Crew Quarters Remodel - 84,873 - - 85,000 - - New Circuit Breaker - Generator #2 - 60,988 - - - - Contex HD Ultra X 3690 Color Scanner - 12,620 - - - - Replace DC Station Service Batteries - - - - - 130,000 130,000 Replace Needle Valve Position Arm Bushings - - - - - 95,000 - Replace ION Meters - - - - - 120,000 120,000 AC unit in powerhouse server room - - - - - 38,000 - Flooring in powerhouse control room and office - - - - - 28,000 - Replace Precision Approach Path Indicator lights - - - - - 40,000 - Limitorque Actuators on fish water valve - - - - - 35,000 35,000 Domestic water tank, controls, and filtration system replacement - - - - - 35,000 - Crew Quarters Bathroom Remodel - - - - - - 130,000 Crew Quarters Window Replacement - - - - - - 100,000 Replace Powerhouse Main Roll Up Door - - - - - - 50,000 Critical Spare (2) Nozzle Assemblies - - - - - - 400,000 Replace Software and Computer Board in SVC Substation - - - - - - 151,150 Total Non R&C Capital Purchases 289,857 381,209 - 948,000 150,000 521,000 1,116,150 Capital Project Description Page 4 of 16 FY 26 FY27 Budget Actual (Over) Under Budget to Date Budget Actual (Over) Under Budget to Date Budget 12/31/2025 Actual to Date 12/31/25 (Over) Under Budget to Date Proposed Budget Increase (Decrease) From PY Summary by expense type Staff Professional Services (Direct) 387,700 325,581 62,119 312,585 501,917 (189,332) 360,000 180,000 257,051 (77,051) 600,000 240,000 Labor & Benefits 2,023,067 1,763,168 259,899 2,054,317 1,435,363 618,954 1,497,414 748,707 646,423 102,284 1,345,868 (151,546) Travel 78,500 23,515 54,985 51,500 57,509 (6,009) 40,300 20,150 3,388 16,762 115,960 75,660 Training 50,000 10,238 39,762 55,000 7,211 47,789 55,000 27,500 14,987 12,513 129,000 74,000 Contractual 1,181,381 917,237 264,144 1,243,010 1,118,636 124,374 1,392,497 696,249 630,103 66,146 1,545,677 153,180 Consulting-Administrative 265,000 236,601 28,399 315,000 46,433 268,567 155,000 77,500 19,670 57,830 4,000 (151,000) Supplies & Materials 330,332 166,554 163,778 378,500 296,310 82,190 342,000 171,000 64,547 106,453 302,700 (39,300) Other Costs 79,318 62,747 16,571 112,718 95,087 17,631 77,518 38,759 36,487 2,272 77,538 20 Equipment, Furniture & Machinery 165,000 159,553 5,448 35,000 19,940 15,060 20,000 10,000 8,473 1,527 26,000 6,000 Administrative Costs 1,553,800 1,807,663 (253,863) 1,978,224 2,088,063 (109,839) 2,549,839 1,274,920 911,874 363,046 3,153,839 604,000 Indirect Costs 1,480,105 1,315,396 164,709 1,480,105 1,340,986 139,119 1,543,116 771,558 645,133 126,425 1,543,116 0 O&M 4% Allocation to Battle Creek (303,768) - (303,768) (320,638) - (320,638) (321,307) (160,654) - (160,654) (353,748) (32,441) Total Bradley Lake Budget 7,290,435 6,788,254 502,181 7,695,321 7,007,455 687,866 7,711,376 3,855,688 3,238,138 617,550 8,489,950 778,574 FERC 535 - Operation Supervision & EngineeringOperations Sup/Eng Bradley Lake Operating Labor & Benefits 105,451 106,921 (1,470) 105,451 99,743 5,708 109,196 54,598 53,683 915 109,196 (0) Travel 5,000 1,972 3,028 5,000 668 4,332 5,000 2,500 - 2,500 3,000 (2,000) Training 5,000 581 4,419 5,000 - 5,000 5,000 2,500 - 2,500 5,000 - Contractual 3,000 - 3,000 3,000 407 2,593 3,000 1,500 - 1,500 1,500 (1,500) Supplies & Materials 4,000 233 3,767 4,000 - 4,000 25,000 12,500 1,153 11,347 27,000 2,000 Indirect Costs 155,698 149,004 6,694 155,698 139,723 15,975 157,071 78,535 74,502 4,033 157,071 0 Bradley Lake Operating Total 278,149 258,711 19,438 278,149 240,542 37,607 304,267 152,134 129,338 22,795 302,767 (1,500) FERC 535 - Operation Supervision & Engineering Total 278,149 258,711 19,438 278,149 240,542 37,607 304,267 152,134 129,338 22,795 302,767 (1,500) FERC 537 - Hydraulic ExpensesHydraulic Expenses Bradley Lake OperatingLabor & Benefits 95,262 72,310 22,952 95,262 79,042 16,220 81,895 40,947 40,449 498 81,895 0 Contractual 60,000 - 60,000 - - - 15,000 7,500 - 7,500 - (15,000) Supplies & Materials 2,000 2,461 (461) 4,000 1,729 2,271 10,000 5,000 1,310 3,690 4,000 (6,000) Indirect Costs 109,250 100,356 8,894 109,250 108,693 557 113,127 56,564 52,543 4,021 113,127 (0) Bradley Lake Operating Total 266,512 175,127 91,385 208,512 189,464 19,048 220,022 110,011 94,302 15,709 199,022 (21,000) FERC 537 - Hydraulic Expenses Total 266,512 175,127 91,385 208,512 189,464 19,048 220,022 110,011 94,302 15,709 199,022 (21,000) FERC 538 - Electric Expenses Electric ExpensesBradley Lake Operating Labor & Benefits 218,044 211,756 6,288 218,044 227,478 (9,434) 235,187 117,594 118,254 (661) 235,187 (0) Travel 7,000 209 6,791 7,000 293 6,707 7,000 3,500 303 3,197 5,000 (2,000) Training 30,000 9,514 20,486 30,000 3,990 26,010 30,000 15,000 14,512 488 30,000 - Contractual 5,000 2,506 2,494 10,000 5,255 4,745 18,000 9,000 12,133 (3,133) 31,000 13,000 Supplies & Materials 13,732 11,183 2,549 18,500 5,970 12,530 23,500 11,750 1,294 10,456 21,500 (2,000) Indirect Costs 262,004 246,564 15,440 262,004 268,318 (6,314) 280,431 140,215 137,942 2,274 280,431 0 Bradley Lake Operating Total 535,780 481,731 54,049 545,548 511,305 34,243 594,118 297,059 284,437 12,622 603,118 9,000 FERC 538 - Electric Expenses Total 535,780 481,731 54,049 545,548 511,305 34,243 594,118 297,059 284,437 12,622 603,118 9,000 FERC 539 - Misc. Hydraulic Power Generation ExpensesMisc Hydro Power Exp Bradley Lake Operating Labor & Benefits 105,742 82,466 23,276 107,742 78,868 28,874 130,567 65,283 34,354 30,929 113,567 (17,000) Training 15,000 - 15,000 20,000 - 20,000 20,000 10,000 - 10,000 90,000 70,000 Contractual 360,067 398,523 (38,456) 385,067 410,619 (25,552) 606,317 303,159 298,728 4,430 575,367 (30,950) Supplies & Materials 25,000 34,014 (9,014) 25,000 45,819 (20,819) 30,000 15,000 9,905 5,095 40,000 10,000 Equipment, Furniture & Machinery - - - - 2,563 (2,563) - - - - - - Indirect Costs 114,320 114,239 81 114,320 111,127 3,193 122,323 61,162 47,748 13,414 122,323 (0) Bradley Lake Operating Total 620,129 629,241 (9,112) 652,129 648,997 3,132 909,207 454,604 390,736 63,867 941,257 32,050 BRADLEY CIRCUITS/RADIO TO BERNICE LK Other Costs 35,695 34,268 1,427 35,695 34,268 1,427 35,695 17,848 17,134 713 35,695 - BRADLEY CIRCUITS/RADIO TO BERNICE LK Total 35,695 34,268 1,427 35,695 34,268 1,427 35,695 17,848 17,134 713 35,695 - BRADLEY CIRCUITS BERNICE LK TO ANCHOther Costs 29,773 28,239 1,534 29,773 28,985 788 29,773 14,887 14,483 404 29,773 - BRADLEY CIRCUITS BERNICE LK TO ANCH Total 29,773 28,239 1,534 29,773 28,985 788 29,773 14,887 14,483 404 29,773 - LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK Other Costs - - - 45,000 24,085 20,915 10,000 5,000 4,870 130 5,000 (5,000) LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK Total - - - 45,000 24,085 20,915 10,000 5,000 4,870 130 5,000 (5,000) FERC 539 - Misc. Hydraulic Power Generation Expenses Total 685,597 691,748 (6,151) 762,597 736,335 26,262 984,675 492,338 427,223 65,114 1,011,725 27,050 FERC 541 - Maintenance Supervision & EngineeringMaint Supervision/Eng Bradley Lake OperatingLabor & Benefits 110,451 112,706 (2,255) 110,451 104,197 6,254 117,056 58,528 55,603 2,925 117,056 (0) Indirect Costs 155,698 149,940 5,758 155,698 139,723 15,975 157,071 78,535 74,502 4,033 157,071 0 Bradley Lake Operating Total 266,149 262,645 3,504 266,149 243,920 22,229 274,127 137,064 130,105 6,958 274,127 (0) FERC 541 - Maintenance Supervision & Engineering Total 266,149 262,645 3,504 266,149 243,920 22,229 274,127 137,064 130,105 6,958 274,127 (0) FERC 542 - Maintenance of StructuresMaintenance of StructuresDefault Default Total - - - - - - - - - - - - Bradley Lake OperatingLabor & Benefits 89,710 70,851 18,859 89,710 67,928 21,782 84,789 42,394 30,808 11,587 84,789 0 Contractual 56,000 43,732 12,268 126,000 103,435 22,565 35,000 17,500 14,804 2,696 130,000 95,000 Supplies & Materials 78,000 20,423 57,577 70,000 40,551 29,449 44,000 22,000 8,975 13,025 49,000 5,000 Equipment, Furniture & Machinery 15,000 19,772 (4,772) 20,000 14,623 5,377 20,000 10,000 7,890 2,110 23,000 3,000 Indirect Costs 102,350 95,457 6,893 102,350 94,601 7,749 115,838 57,919 42,717 15,202 115,838 (0) Bradley Lake Operating Total 341,060 250,235 90,825 408,060 321,138 86,922 299,627 149,814 105,194 44,619 402,627 103,000 FERC 542 - Maintenance of Structures Total 341,060 250,235 90,825 408,060 321,138 86,922 299,627 149,814 105,194 44,619 402,627 103,000 FERC 543 - Maintenance of Reservoirs, Dams & WaterwaysMaint Res, Dams, WWays Bradley Lake Operating Labor & Benefits 51,783 6,012 45,771 51,783 13,050 38,733 17,992 8,996 1,110 7,886 17,992 (0) Contractual 6,500 - 6,500 39,500 41,306 (1,806) 6,500 3,250 11,162 (7,912) 6,500 - Supplies & Materials 20,000 - 20,000 85,000 63,338 21,662 20,000 10,000 283 9,717 - (20,000) Equipment, Furniture & Machinery - - - 15,000 - 15,000 - - - - - - Indirect Costs 58,650 8,664 49,986 58,650 16,000 42,650 22,556 11,278 1,720 9,558 22,556 (0) Bradley Lake Operating Total 136,933 14,675 122,258 249,933 133,694 116,239 67,048 33,524 14,275 19,249 47,048 (20,000) BRADLEY POWER TUNNEL MAINT (Dam)Contractual 15,000 - 15,000 15,000 - 15,000 15,000 7,500 - 7,500 15,000 - BRADLEY POWER TUNNEL MAINT (Dam) Total 15,000 - 15,000 15,000 - 15,000 15,000 7,500 - 7,500 15,000 - FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total 151,933 14,675 137,258 264,933 133,694 131,239 82,048 41,024 14,275 26,749 62,048 (20,000) FERC 544 - Maintenance of Electric Plant Maintenance of Elec PlantBradley Lake Operating Labor & Benefits 309,110 259,650 49,460 309,110 261,477 47,633 336,995 168,498 121,607 46,890 336,995 (0) Travel 4,500 354 4,146 4,500 530 3,970 4,500 2,250 108 2,142 4,500 - Contractual 40,000 51,632 (11,632) 75,000 60,276 14,724 24,000 12,000 37,284 (25,284) 64,000 40,000 Supplies & Materials 40,000 36,163 3,837 40,000 35,276 4,724 40,000 20,000 7,809 12,191 40,000 - Indirect Costs 423,178 360,486 62,692 423,178 367,649 55,529 461,361 230,680 169,273 61,407 461,361 0 Bradley Lake Operating Total 816,788 708,284 108,504 851,788 725,208 126,580 866,856 433,428 336,081 97,347 906,856 40,000 FERC 544 - Maintenance of Electric Plant Total 816,788 708,284 108,504 851,788 725,208 126,580 866,856 433,428 336,081 97,347 906,856 40,000 FERC 545 - Maintenance of Misc. Hydraulic Plant Maint of Misc Hydr Plant Bradley Lake Operating FY 24 FY 25 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BRADLEY LAKE OPERATIONS & MAINTENANCE BUDGET SCHEDULE B FOR THE PERIOD 07/01/2026 TO 06/30/2027 Page 5 of 16 FY 26 FY27 Budget Actual (Over) Under Budget to Date Budget Actual (Over) Under Budget to Date Budget 12/31/2025 Actual to Date 12/31/25 (Over) Under Budget to Date Proposed Budget Increase (Decrease) From PY FY 24 FY 25 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BRADLEY LAKE OPERATIONS & MAINTENANCE BUDGET SCHEDULE B FOR THE PERIOD 07/01/2026 TO 06/30/2027 Labor & Benefits 69,297 65,189 4,108 69,297 68,096 1,201 82,339 41,170 31,999 9,171 82,340 1 Contractual 45,000 74,760 (29,760) 45,000 38,420 6,580 45,000 22,500 43,938 (21,438) 45,000 - Supplies & Materials 68,000 53,871 14,129 68,000 56,391 11,609 68,000 34,000 26,890 7,110 68,000 - Equipment, Furniture & Machinery 150,000 139,780 10,220 - - - - - - - - - Indirect Costs 98,957 90,687 8,270 98,957 95,152 3,805 113,337 56,669 44,186 12,483 113,338 1 Bradley Lake Operating Total 431,254 424,287 6,967 281,254 258,059 23,195 308,677 154,338 147,013 7,326 308,678 1 FERC 545 - Maintenance of Misc. Hydraulic Plant Total 431,254 424,287 6,967 281,254 258,059 23,195 308,677 154,338 147,013 7,326 308,678 1 FERC 556 - System Control & Load DispatchingSystem Cntl & Load Disp Bradley Lake OperatingLabor & Benefits 20,174 11,901 8,273 20,174 25,978 (5,804) 20,174 10,087 21,159 (11,072) 20,174 - Contractual 85,500 44,724 40,776 103,500 49,188 54,312 143,500 71,750 20,757 50,993 148,500 5,000 Supplies & Materials 12,000 438 11,562 12,000 854 11,146 12,000 6,000 - 6,000 12,000 - Bradley Lake Operating Total 117,674 57,063 60,611 135,674 76,020 59,654 175,674 87,837 41,916 45,921 180,674 5,000 Snow Measurement Bradley Lake OperatingContractual 10,000 9,600 400 10,000 9,600 400 10,000 5,000 - 5,000 10,000 - Bradley Lake Operating Total 10,000 9,600 400 10,000 9,600 400 10,000 5,000 - 5,000 10,000 - Seismic Service Bradley Lake OperatingContractual 62,000 60,755 1,245 64,868 62,273 2,595 66,498 33,249 28,649 4,600 68,186 1,688 Bradley Lake Operating Total 62,000 60,755 1,245 64,868 62,273 2,595 66,498 33,249 28,649 4,600 68,186 1,688 Streamguaging Serv Bradley Lake OperatingContractual 278,014 151,920 126,094 216,275 269,784 (53,509) 221,682 110,841 109,287 1,554 233,224 11,542 Bradley Lake Operating Total 278,014 151,920 126,094 216,275 269,784 (53,509) 221,682 110,841 109,287 1,554 233,224 11,542 Permits Bradley Lake OperatingOther Costs 350 240 110 350 240 110 350 175 - 175 350 - Bradley Lake Operating Total 350 240 110 350 240 110 350 175 - 175 350 - FERC 556 - System Control & Load Dispatching Total 468,038 279,578 188,460 427,167 417,917 9,250 474,204 237,102 179,852 57,250 492,434 18,230 FERC 562 - Station Expenses Station ExpensesBradley Lake Operating Labor & Benefits 64,043 105,259 (41,216) 58,612 42,859 15,753 61,812 30,906 12,684 18,222 73,575 11,763 Labor & Benefits 38,000 56,843 (18,843) 38,000 92,725 (54,725) 38,000 19,000 4,760 14,240 38,900 900 Travel - 336 (336) - - - - - - - - - Travel 3,500 - 3,500 2,500 773 1,727 1,800 900 - 900 2,460 660 Contractual 1,800 6,029 (4,229) 4,800 32,843 (28,043) 3,000 1,500 - 1,500 3,400 400 Contractual 78,500 73,058 5,442 75,000 - 75,000 100,000 50,000 53,360 (3,360) 130,000 30,000 Supplies & Materials 9,600 4,392 5,208 11,000 9,034 1,966 8,000 4,000 677 3,323 10,200 2,200 Supplies & Materials 10,000 1,109 8,891 12,000 16,500 (4,500) 37,000 18,500 6,251 12,249 - (37,000) Other Costs 1,500 - 1,500 1,900 1,536 364 1,700 850 - 850 720 (980) Bradley Lake Operating Total 206,943 247,026 (40,083) 203,812 196,269 7,543 251,312 125,656 77,732 47,924 259,255 7,943 FERC 562 - Station Expenses Total 206,943 247,026 (40,083) 203,812 196,269 7,543 251,312 125,656 77,732 47,924 259,255 7,943 FERC 571 - Maintenance of Overhead LinesMaint of OH Lines Bradley Lake OperatingLabor & Benefits 16,000 52,998 (36,998) 36,500 23,486 13,014 32,574 16,287 - 16,287 34,202 1,628 Contractual 75,000 - 75,000 70,000 35,229 34,771 80,000 40,000 - 40,000 84,000 4,000 Supplies & Materials 30,000 - 30,000 20,000 11,965 8,035 20,000 10,000 - 10,000 21,000 1,000 Bradley Lake Operating Total 121,000 52,998 68,002 126,500 70,681 55,819 132,574 66,287 - 66,287 139,202 6,628 FERC 571 - Maintenance of Overhead Lines Total 121,000 52,998 68,002 126,500 70,681 55,819 132,574 66,287 - 66,287 139,202 6,628 FERC 920 & 930 - Administrative ExpenseAEA Bradley Fixed Admin Fees Bradley Lake OperatingStaff Professional Services (Direct) 387,700 325,581 62,119 312,585 501,917 (189,332) 360,000 180,000 257,051 (77,051) 600,000 240,000 Travel - 20,643 (20,643) - 53,177 (53,177) - - 2,978 (2,978) 101,000 101,000 Training - 144 (144) - 3,221 (3,221) - - 475 (475) 4,000 4,000 Consulting-Administrative - 17,374 (17,374) - 2,153 (2,153) - - 1,037 (1,037) 4,000 4,000 Supplies & Materials - 2,268 (2,268) - 8,882 (8,882) - - - - 10,000 10,000 Other Costs - - - - 5,972 (5,972) - - - - 6,000 6,000 Equipment, Furniture & Machinery - - - - 2,754 (2,754) - - 583 (583) 3,000 3,000 Administrative Costs 2,500 186,707 (184,207) 172,500 455,441 (282,941) 240,000 120,000 114,738 5,262 317,000 77,000 Bradley Lake Operating Total 390,200 552,716 (162,516) 485,085 1,033,515 (548,430) 600,000 300,000 376,862 (76,862) 1,045,000 445,000 General & Administrative CostsGeneral & Administrative Costs Total - - - - - - - - - - - - Operating Committee Exp-Audit Bradley Lake OperatingAdministrative Costs 22,000 35,030 (13,030) 41,000 38,534 2,466 45,000 22,500 - 22,500 47,000 2,000 Bradley Lake Operating Total 22,000 35,030 (13,030) 41,000 38,534 2,466 45,000 22,500 - 22,500 47,000 2,000 Operating Committee Exp-Legal Bradley Lake OperatingAdministrative Costs 80,000 149,198 (69,198) 80,000 125,918 (45,918) 80,000 40,000 60,885 (20,885) 150,000 70,000 Bradley Lake Operating Total 80,000 149,198 (69,198) 80,000 125,918 (45,918) 80,000 40,000 60,885 (20,885) 150,000 70,000 Trust & Account Fees Bradley Lake OperatingAdministrative Costs 13,000 - 13,000 - - - - - - - - - Bradley Lake Operating Total 13,000 - 13,000 - - - - - - - - - Battle Creek OperatingBattle Creek Operating Total - - - - - - - - - - - - Misc AdminBradley Lake Operating Administrative Costs 13,000 14,110 (1,110) 13,000 14,634 (1,634) 13,000 6,500 15,103 (8,603) 13,000 - Bradley Lake Operating Total 13,000 14,110 (1,110) 13,000 14,634 (1,634) 13,000 6,500 15,103 (8,603) 13,000 - Professional ConsultantsBradley Lake Operating Labor & Benefits 730,000 548,307 181,693 744,181 250,437 493,744 148,836 74,418 119,952 (45,534) - (148,836) Travel 58,500 - 58,500 32,500 2,068 30,432 22,000 11,000 - 11,000 - (22,000) Supplies & Materials 18,000 - 18,000 9,000 - 9,000 4,500 2,250 - 2,250 - (4,500) Other Costs 12,000 - 12,000 - - - - - - - - - Bradley Lake Operating Total 818,500 548,307 270,193 785,681 252,505 533,176 175,336 87,668 119,952 (32,284) - (175,336) FERC 920 & 930 - Administrative Expense Total 1,336,700 1,299,363 37,337 1,404,766 1,465,107 (60,341) 913,336 456,668 572,802 (116,134) 1,255,000 341,664 FERC 924 & 925 - Insurance Premiums Insurance Premiums Bradley Lake OperatingAdministrative Costs 1,100,000 1,166,378 (66,378) 1,300,000 1,094,624 205,376 1,500,000 750,000 714,323 35,677 1,700,000 200,000 Administrative Costs 38,300 52,812 (14,512) 71,724 69,383 2,341 81,839 40,920 - 40,920 81,839 - Bradley Lake Operating Total 1,138,300 1,219,190 (80,890) 1,371,724 1,164,007 207,717 1,581,839 790,920 714,323 76,596 1,781,839 200,000 FERC 924 & 925 - Insurance Premiums Total 1,138,300 1,219,190 (80,890) 1,371,724 1,164,007 207,717 1,581,839 790,920 714,323 76,596 1,781,839 200,000 FERC 923 - Outside Services EmployedOutside Services Employed Bradley Lake Operating Consulting-Administrative 265,000 219,228 45,772 315,000 44,280 270,720 155,000 77,500 18,634 58,866 - (155,000) Bradley Lake Operating Total 265,000 219,228 45,772 315,000 44,280 270,720 155,000 77,500 18,634 58,866 - (155,000) FERC 923 - Outside Services Employed Total 265,000 219,228 45,772 315,000 44,280 270,720 155,000 77,500 18,634 58,866 - (155,000) FERC 928 - Regulatory Commission ExpensesFERC Admin Fees Bradley Lake OperatingAdministrative Costs 165,000 155,391 9,609 180,000 213,420 (33,420) 170,000 85,000 - 85,000 225,000 55,000 Bradley Lake Operating Total 165,000 155,391 9,609 180,000 213,420 (33,420) 170,000 85,000 - 85,000 225,000 55,000 Page 6 of 16 FY 26 FY27 Budget Actual (Over) Under Budget to Date Budget Actual (Over) Under Budget to Date Budget 12/31/2025 Actual to Date 12/31/25 (Over) Under Budget to Date Proposed Budget Increase (Decrease) From PY FY 24 FY 25 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BRADLEY LAKE OPERATIONS & MAINTENANCE BUDGET SCHEDULE B FOR THE PERIOD 07/01/2026 TO 06/30/2027 FERC Related Prof ServicesBradley Lake OperatingBradley Lake Operating Total - - - - - - - - - - - - BRADLEY FERC PART 12 INSPECTION Administrative Costs - - - - - - 300,000 150,000 - 150,000 500,000 200,000 BRADLEY FERC PART 12 INSPECTION Total - - - - - - 300,000 150,000 - 150,000 500,000 200,000 BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUESAdministrative Costs 120,000 48,036 71,964 120,000 76,109 43,891 120,000 60,000 6,825 53,175 120,000 - BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 120,000 48,036 71,964 120,000 76,109 43,891 120,000 60,000 6,825 53,175 120,000 - FERC 928 - Regulatory Commission Expenses Total 285,000 203,427 81,573 300,000 289,529 10,471 590,000 295,000 6,825 288,175 845,000 255,000 O&M 4% Allocation to Battle Creek (303,768) - (303,768) (320,638) - (320,638) (321,307) (160,654) - (160,654) (353,748) (32,441) Total Bradley Lake Budget 7,290,435 6,788,254 502,181 7,695,321 7,007,455 687,866 7,711,376 3,855,688 3,238,138 617,550 8,489,950 778,574 - - - - - - - - - - - - Page 7 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Monthly Utility Contributions Schedule C A B C D E F FY2024 FY2025 FY2026 FY2027 Annual Annual Annual Annual FY2026 to Percent Approved Approved Approved Proposed FY2027 Power Purchaser Share Budget Budget Budget Budget Change Chugach Electric 56.30%12,686,112 12,376,392 12,672,564 13,211,783 539,218 Homer Electric 12.00%2,703,966 2,637,950 2,701,078 2,816,009 114,931 Matanuska Electric 13.80%3,109,564 3,033,646 3,106,243 3,238,414 132,171 Golden Valley Electric 16.90%3,808,087 3,715,116 3,804,020 3,965,881 161,861 City of Seward 1.00%225,331 219,829 225,090 234,668 9,578 100.0%22,533,059 21,982,934 22,508,995 23,466,754 957,759 FY2024 FY2025 FY2026 FY2027 FY2026 to Power Purchaser Percent Approved Approved Approved Proposed FY2027 Share Monthly Monthly Monthly Monthly Change Chugach Electric 56.30%1,057,176 1,031,366 1,056,047 1,100,982 44,935 Homer Electric 12.00%225,330 219,829 225,090 234,667 9,578 Matanuska Electric 13.80%259,130 252,804 258,854 269,868 11,014 Golden Valley Electric 16.90%317,341 309,593 317,002 330,490 13,488 City of Seward 1.00%18,778 18,319 18,757 19,556 798 100.00%1,877,755 1,831,911 1,875,750 1,955,563 79,813 Page 8 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT R&C Fund Disbursements and Repayments Schedule D ACTUAL ACTUAL ACTUAL ACTUAL PROJECTED PROJECTED PROJECTED PROJECTED TO REPAY TO REPAY TO REPAY TO REPAY Description Disburse at 06/30/24 Disburse at 06/30/25 Disburse at 06/30/26 Disburse at 06/30/27 R&C FUND PROJECTS Governor - 4,052,070.14 - 4,052,070.14 - 4,052,070.14 - 4,052,070.14 Replace RFLS - 251,092.69 - 251,092.69 - 251,092.69 - 251,092.69 Replace Runners - 1,946,732.79 - 1,946,732.79 - 1,946,732.79 - 1,946,732.79 Replace Cable from Dam to Power House - 2,321,922.94 - 2,321,922.94 - 2,321,922.94 - 2,321,922.94 Replace Power System Stabilizer - 619,205.10 - 619,205.10 - 619,205.10 - 619,205.10 Replace two RTUs - 86,905.27 - 86,905.27 - 86,905.27 - 86,905.27 Culvert Repairs - 675,966.79 - 675,966.79 - 675,966.79 - 675,966.79 Trans Towers Frost Jacking Repairs - 887,596.62 - 887,596.62 - 887,596.62 - 887,596.62 Replace Plant and SCADA Controls - 1,344,683.05 - 1,344,683.05 - 1,344,683.05 - 1,344,683.05 Vibration Monitoring System - 490.00 - 490.00 - 490.00 - 490.00 Fire Alarm System Replacement 33,941.86 171,338.97 - 171,338.97 1,471,407.00 1,642,745.97 1,471,407.00 3,114,152.97 Battle Creek Diversion - 1,170,000.00 - 1,170,000.00 - 1,170,000.00 - 1,170,000.00 Replace Electro-Mechanical Relays - 1,277,197.06 - 1,277,197.06 - 1,277,197.06 - 1,277,197.06 Fishwater Screen Debris Removal - 312,236.43 - 312,236.43 - 312,236.43 - 312,236.43 Turbine Nozzle Repair - 1,428,861.07 - 1,428,861.07 - 1,428,861.07 - 1,428,861.07 SVC replacement Daves Creek | Soldotna - 8,517,991.11 - 8,517,991.11 - 8,517,991.11 - 8,517,991.11 Equipment Storage Shed - 510,550.13 - 510,550.13 - 510,550.13 - 510,550.13 Emerson Operating System Upgrade - 622,665.00 - 622,665.00 - 622,665.00 - 622,665.00 Generator #2 Replacement - 953,212.71 - 953,212.71 - 953,212.71 - 953,212.71 Road Grader - 342,330.00 - 342,330.00 - 342,330.00 - 342,330.00 Battle Creek Construction - 3,739,590.93 - 3,739,590.93 - 3,739,590.93 - 3,739,590.93 Battle Creek Cash Call - 750,000.00 - 750,000.00 - 750,000.00 - 750,000.00 Repayment through Cash Call - (750,000.00) - (750,000.00) - (750,000.00) - (750,000.00) Needle Repairs - 1,482,791.23 - 1,482,791.23 - 1,482,791.23 - 1,482,791.23 Construct additional residence 805,515.43 1,000,284.14 75,155.88 1,075,440.02 - 1,075,440.02 - 1,075,440.02 Spillway Raise & Expansion Project (Dixon Diversion) 175,650.59 1,384,822.09 774,356.98 2,159,179.07 - 2,159,179.07 - 2,159,179.07 Needle Valve Rebuild 198,085.70 198,085.70 1,504,126.90 1,702,212.60 - 1,702,212.60 - 1,702,212.60 Barge Dock Rehabilitation - - 401.00 401.00 600,000.00 600,401.00 600,000.00 1,200,401.00 Critical Spare (2) Nozzle Assemblies - - - - - - - - Change out turbine nozzles units #1 and #2 - - - - - - - - 1,213,193.58 35,298,621.96 2,354,040.76 37,652,662.72 2,071,407.00 39,724,069.72 2,071,407.00 41,795,476.72 4th yr 1,321,708.58 3rd yr 247,054.13 4th yr 247,054.13 2nd yr 197,454.89 3rd yr 197,454.89 4th yr 197,454.89 1st yr 303,298.40 2nd yr 303,298.40 3rd yr 303,298.40 4th yr 303,298.40 1st yr 588,510.19 2nd yr 588,510.19 3rd yr 588,510.19 1st yr 517,851.75 2nd yr 517,851.75 1st yr 517,851.75 2,069,515.99 1,336,317.61 1,607,115.23 1,927,512.09 Page 9 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Battle Creek Capital Purchases (not funded by R&C Fund) Schedule E FY24 FY25 FY26 FY24 FY25 FY26 FY27 Actuals Approved Approved Approved Proposed Actuals Actuals @12/31/25 Budget Budget Budget Budget Battle Creek Associated Costs - - - 15,000 - - - Survey and Monument DNR Lease 88,651 2,621 - 150,000 5,000 5,000 5,000 Total Non R&C Capital Purchases 88,651 2,621 - 165,000 5,000 5,000 5,000 Capital Construction Project Description Page 10 of 16 FY 26 FY27 Budget Actual (Over) Under Budget to Date Budget Actual (Over) Under Budget to Date Budget Budget to Date 12/31/26 Actual to Date 12/31/25 (Over) Under Budget to Date Proposed Budget Increase (Decrease) From PY Summary by expense type Staff Professional Services (Direct) 50,000 48,886 1,114 50,000 46,192 3,808 50,000 25,000 22,750 2,250 50,000 - Labor & Benefits - 73,465 (73,465) 10,000 59,807 (49,807) 10,000 5,000 26,934 (21,934) 10,000 - Travel - 1,411 (1,411) - 3,322 (3,322) - - 141 (141) - - Training - 427 (427) - 300 (300) - - 624 (624) - - Contractual 125,000 154,741 (29,741) 201,300 243,987 (42,687) 333,477 166,739 184,740 (18,002) 148,000 (185,477) Consulting-Administrative - 9,858 (9,858) - 1,935 (1,935) - - 820 (820) - - Supplies & Materials - 6,940 (6,940) 5,000 12,346 (7,346) 5,000 2,500 2,689 (189) 5,000 - Other Costs - 2,614 (2,614) - 3,962 (3,962) - - 1,520 (1,520) - - Equipment, Furniture & Machinery - 6,648 (6,648) - 831 (831) - - 353 (353) - - Administrative Costs 11,500 81,420 (69,920) 14,000 93,093 (79,093) 14,000 7,000 37,995 (30,995) 14,000 - Indirect Costs - 54,808 (54,808) - 55,874 (55,874) - - 26,881 (26,881) - - O&M 4% Allocation to Battle Creek 303,768 - 303,768 320,638 - 320,638 321,307 160,654 - 160,654 353,748 32,441 Total Bradley Lake Budget 490,268 441,218 49,050 600,938 521,650 79,288 733,784 366,892 305,448 61,444 580,748 (153,036) FERC 535 - Operation Supervision & EngineeringOperations Sup/Eng Battle Creek Operating Labor & Benefits - 4,455 (4,455) 1,500 4,156 (2,656) 1,500 750 2,237 (1,487) 1,500 - Travel - 82 (82) - 28 (28) - - - - - - Training - 24 (24) - - - - - - - - - Contractual - - - - 17 (17) - - - - - - Supplies & Materials - 10 (10) 1,000 - 1,000 1,000 500 48 452 1,000 - Indirect Costs - 6,209 (6,209) - 5,822 (5,822) - - 3,104 (3,104) - - Battle Creek Operating Total - 10,780 (10,780) 2,500 10,023 (7,523) 2,500 1,250 5,389 (4,139) 2,500 - FERC 535 - Operation Supervision & Engineering Total - 10,780 (10,780) 2,500 10,023 (7,523) 2,500 1,250 5,389 (4,139) 2,500 - FERC 537 - Hydraulic ExpensesHydraulic Expenses Battle Creek OperatingLabor & Benefits - 3,013 (3,013) 1,500 3,293 (1,793) 1,500 750 1,685 (935) 1,500 - Contractual 70,000 62,923 7,077 145,000 141,077 3,923 277,177 138,589 143,736 (5,147) 86,000 (191,177) Supplies & Materials - 103 (103) 1,000 72 928 1,000 500 55 445 1,000 - Indirect Costs - 4,182 (4,182) - 4,529 (4,529) - - 2,189 (2,189) - - Battle Creek Operating Total 70,000 70,220 (220) 147,500 148,972 (1,472) 279,677 139,839 147,665 (7,827) 88,500 (191,177) FERC 537 - Hydraulic Expenses Total 70,000 70,220 (220) 147,500 148,972 (1,472) 279,677 139,839 147,665 (7,827) 88,500 (191,177) FERC 538 - Electric Expenses Electric ExpensesBattle Creek Operating Labor & Benefits - 8,823 (8,823) 1,500 9,478 (7,978) 1,500 750 4,927 (4,177) 1,500 - Travel - 9 (9) - 12 (12) - - 13 (13) - - Training - 396 (396) - 166 (166) - - 605 (605) - - Contractual - 104 (104) - 219 (219) - - 506 (506) - - Supplies & Materials - 466 (466) 1,000 249 751 1,000 500 54 446 1,000 - Indirect Costs - 10,273 (10,273) - 11,180 (11,180) - - 5,748 (5,748) - - Battle Creek Operating Total - 20,072 (20,072) 2,500 21,304 (18,804) 2,500 1,250 11,852 (10,602) 2,500 - FERC 538 - Electric Expenses Total - 20,072 (20,072) 2,500 21,304 (18,804) 2,500 1,250 11,852 (10,602) 2,500 - FERC 539 - Misc. Hydraulic Power Generation ExpensesMisc Hydro Power Exp Battle Creek Operating Labor & Benefits - 3,436 (3,436) 1,500 3,286 (1,786) 1,500 750 1,431 (681) 1,500 - Contractual - 16,605 (16,605) - 17,109 (17,109) - - 12,447 (12,447) - - Supplies & Materials - 1,417 (1,417) 1,000 1,909 (909) 1,000 500 413 87 1,000 - Other Costs - 2,604 (2,604) - 3,639 (3,639) - - 1,520 (1,520) - - Equipment, Furniture & Machinery - - - - 107 (107) - - - - - - Indirect Costs - 4,760 (4,760) - 4,630 (4,630) - - 1,990 (1,990) - - Battle Creek Operating Total - 28,823 (28,823) 2,500 30,681 (28,181) 2,500 1,250 17,801 (16,551) 2,500 - FERC 539 - Misc. Hydraulic Power Generation Expenses Total - 28,823 (28,823) 2,500 30,681 (28,181) 2,500 1,250 17,801 (16,551) 2,500 - FERC 541 - Maintenance Supervision & EngineeringMaint Supervision/Eng Battle Creek OperatingLabor & Benefits - 4,696 (4,696) 2,500 4,342 (1,842) 2,500 1,250 2,317 (1,067) 2,500 - Indirect Costs - 6,247 (6,247) - 5,822 (5,822) - - 3,104 (3,104) - - Battle Creek Operating Total - 10,944 (10,944) 2,500 10,163 (7,663) 2,500 1,250 5,421 (4,171) 2,500 - FERC 541 - Maintenance Supervision & Engineering Total - 10,944 (10,944) 2,500 10,163 (7,663) 2,500 1,250 5,421 (4,171) 2,500 - FERC 542 - Maintenance of Structures Maintenance of StructuresBattle Creek Operating Labor & Benefits - 2,952 (2,952) 1,500 2,830 (1,330) 1,500 750 1,284 (534) 1,500 - Contractual - 1,822 (1,822) - 4,310 (4,310) - - 617 (617) - - Supplies & Materials - 851 (851) 1,000 1,690 (690) 1,000 500 374 126 1,000 - Equipment, Furniture & Machinery - 824 (824) - 609 (609) - - 329 (329) - - Indirect Costs - 3,977 (3,977) - 3,942 (3,942) - - 1,780 (1,780) - - Battle Creek Operating Total - 10,426 (10,426) 2,500 13,381 (10,881) 2,500 1,250 4,383 (3,133) 2,500 - FERC 542 - Maintenance of Structures Total - 10,426 (10,426) 2,500 13,381 (10,881) 2,500 1,250 4,383 (3,133) 2,500 - FERC 543 - Maintenance of Reservoirs, Dams & Waterways Maint Res, Dams, WWaysBattle Creek Operating Labor & Benefits - 250 (250) - 544 (544) - - 46 (46) - - Contractual - - - - 1,721 (1,721) - - 465 (465) - - Supplies & Materials - - - - 2,639 (2,639) - - 12 (12) - - Indirect Costs - 361 (361) - 667 (667) - - 72 (72) - - Battle Creek Operating Total - 611 (611) - 5,571 (5,571) - - 595 (595) - - FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total - 611 (611) - 5,571 (5,571) - - 595 (595) - - FERC 544 - Maintenance of Electric PlantMaintenance of Elec Plant Battle Creek OperatingLabor & Benefits - 10,819 (10,819) - 10,895 (10,895) - - 5,067 (5,067) - - Travel - 15 (15) - 22 (22) - - 4 (4) - - Contractual - 2,151 (2,151) - 2,511 (2,511) - - 1,554 (1,554) - - Supplies & Materials - 1,507 (1,507) - 1,470 (1,470) - - 325 (325) - - Indirect Costs - 15,020 (15,020) - 15,319 (15,319) - - 7,053 (7,053) - - Battle Creek Operating Total - 29,512 (29,512) - 30,217 (30,217) - - 14,003 (14,003) - - FERC 544 - Maintenance of Electric Plant Total - 29,512 (29,512) - 30,217 (30,217) - - 14,003 (14,003) - - FERC 545 - Maintenance of Misc. Hydraulic PlantMaint of Misc Hydr Plant Battle Creek Operating Labor & Benefits - 2,716 (2,716) - 2,837 (2,837) - - 1,333 (1,333) - - Contractual - 3,115 (3,115) - 1,601 (1,601) - - 1,831 (1,831) - - Supplies & Materials - 2,245 (2,245) - 2,350 (2,350) - - 1,120 (1,120) - - Equipment, Furniture & Machinery - 5,824 (5,824) - - - - - - - - - Indirect Costs - 3,779 (3,779) - 3,965 (3,965) - - 1,841 (1,841) - - Battle Creek Operating Total - 17,679 (17,679) - 10,752 (10,752) - - 6,126 (6,126) - - FERC 545 - Maintenance of Misc. Hydraulic Plant Total - 17,679 (17,679) - 10,752 (10,752) - - 6,126 (6,126) - - FERC 556 - System Control & Load Dispatching System Cntl & Load DispBradley Lake Operating Bradley Lake Operating Total - - - - - - - - - - - - FY 24 FY 25 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BATTLE CREEK OPERATIONS & MAINTENANCE BUDGET SCHEDULE F FOR THE PERIOD 07/01/2026 TO 06/30/2027 Page 11 of 16 FY 26 FY27 Budget Actual (Over) Under Budget to Date Budget Actual (Over) Under Budget to Date Budget Budget to Date 12/31/26 Actual to Date 12/31/25 (Over) Under Budget to Date Proposed Budget Increase (Decrease) From PY FY 24 FY 25 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BATTLE CREEK OPERATIONS & MAINTENANCE BUDGET SCHEDULE F FOR THE PERIOD 07/01/2026 TO 06/30/2027 Battle Creek OperatingLabor & Benefits - 496 (496) - 1,082 (1,082) - - 882 (882) - - Contractual - 1,864 (1,864) - 2,049 (2,049) - - 865 (865) - - Supplies & Materials - 18 (18) - 36 (36) - - - - - - Battle Creek Operating Total - 2,378 (2,378) - 3,167 (3,167) - - 1,746 (1,746) - - Snow Measurement Battle Creek Operating Contractual - 400 (400) - 400 (400) - - - - - - Battle Creek Operating Total - 400 (400) - 400 (400) - - - - - - Seismic Service Battle Creek Operating Contractual - 2,531 (2,531) - 2,595 (2,595) - - 1,194 (1,194) - - Battle Creek Operating Total - 2,531 (2,531) - 2,595 (2,595) - - 1,194 (1,194) - - Streamguaging Serv Battle Creek OperatingContractual 55,000 59,930 (4,930) 56,300 67,541 (11,241) 56,300 28,150 19,304 8,846 62,000 5,700 Battle Creek Operating Total 55,000 59,930 (4,930) 56,300 67,541 (11,241) 56,300 28,150 19,304 8,846 62,000 5,700 Permits Battle Creek OperatingOther Costs - 10 (10) - 10 (10) - - - - - - Battle Creek Operating Total - 10 (10) - 10 (10) - - - - - - FERC 556 - System Control & Load Dispatching Total 55,000 65,249 (10,249) 56,300 73,713 (17,413) 56,300 28,150 22,244 5,906 62,000 5,700 FERC 562 - Station Expenses Station Expenses Battle Creek OperatingLabor & Benefits - 6,754 (6,754) - 5,649 (5,649) - - 727 (727) - - Travel - 14 (14) - 32 (32) - - - - - - Contractual - 3,295 (3,295) - 1,368 (1,368) - - 2,223 (2,223) - - Supplies & Materials - 229 (229) - 1,064 (1,064) - - 289 (289) - - Other Costs - - - - 64 (64) - - - - - - Battle Creek Operating Total - 10,293 (10,293) - 8,178 (8,178) - - 3,239 (3,239) - - FERC 562 - Station Expenses Total - 10,293 (10,293) - 8,178 (8,178) - - 3,239 (3,239) - - FERC 571 - Maintenance of Overhead LinesMaint of OH Lines Battle Creek OperatingLabor & Benefits - 2,208 (2,208) - 979 (979) - - - - - - Contractual - - - - 1,468 (1,468) - - - - - - Supplies & Materials - - - - 499 (499) - - - - - - Battle Creek Operating Total - 2,208 (2,208) - 2,945 (2,945) - - - - - - FERC 571 - Maintenance of Overhead Lines Total - 2,208 (2,208) - 2,945 (2,945) - - - - - - FERC 920 & 930 - Administrative Expense AEA Bradley Fixed Admin Fees Battle Creek OperatingStaff Professional Services (Direct) 50,000 48,886 1,114 50,000 46,192 3,808 50,000 25,000 22,750 2,250 50,000 - Travel - 1,291 (1,291) - 3,142 (3,142) - - 124 (124) - - Training - 6 (6) - 134 (134) - - 20 (20) - - Consulting-Administrative - 724 (724) - 90 (90) - - 43 (43) - - Supplies & Materials - 94 (94) - 370 (370) - - - - - - Other Costs - - - - 249 (249) - - - - - - Equipment, Furniture & Machinery - - - - 115 (115) - - 24 (24) - - Administrative Costs - 7,793 (7,793) - 18,977 (18,977) - - 4,781 (4,781) - - Battle Creek Operating Total 50,000 58,794 (8,794) 50,000 69,268 (19,268) 50,000 25,000 27,743 (2,743) 50,000 - Operating Committee Exp-Audit Battle Creek OperatingAdministrative Costs - 1,460 (1,460) - 1,606 (1,606) - - - - - - Battle Creek Operating Total - 1,460 (1,460) - 1,606 (1,606) - - - - - - Operating Committee Exp-Legal Battle Creek OperatingAdministrative Costs 5,000 6,217 (1,217) 5,000 5,247 (247) 5,000 2,500 2,537 (37) 5,000 - Battle Creek Operating Total 5,000 6,217 (1,217) 5,000 5,247 (247) 5,000 2,500 2,537 (37) 5,000 - Operat Committee Exp-Arbitrage Battle Creek OperatingAdministrative Costs - 1,690 (1,690) 2,500 1,690 810 2,500 1,250 - 1,250 2,500 - Battle Creek Operating Total - 1,690 (1,690) 2,500 1,690 810 2,500 1,250 - 1,250 2,500 - Trust & Account Fees Battle Creek OperatingAdministrative Costs 5,500 4,170 1,330 5,500 4,400 1,100 5,500 2,750 - 2,750 5,500 - Battle Creek Operating Total 5,500 4,170 1,330 5,500 4,400 1,100 5,500 2,750 - 2,750 5,500 - Misc AdminBattle Creek Operating Administrative Costs 1,000 588 412 1,000 610 390 1,000 500 629 (129) 1,000 - Battle Creek Operating Total 1,000 588 412 1,000 610 390 1,000 500 629 (129) 1,000 - Professional ConsultantsBattle Creek Operating Labor & Benefits - 22,846 (22,846) - 10,435 (10,435) - - 4,998 (4,998) - - Travel - - - - 86 (86) - - - - - - Battle Creek Operating Total - 22,846 (22,846) - 10,521 (10,521) - - 4,998 (4,998) - - FERC 920 & 930 - Administrative Expense Total 61,500 95,764 (34,264) 64,000 93,341 (29,341) 64,000 32,000 35,907 (3,907) 64,000 - FERC 924 & 925 - Insurance PremiumsInsurance Premiums Battle Creek OperatingAdministrative Costs - 50,800 (50,800) - 48,500 (48,500) - - 29,763 (29,763) - - Battle Creek Operating Total - 50,800 (50,800) - 48,500 (48,500) - - 29,763 (29,763) - - FERC 924 & 925 - Insurance Premiums Total - 50,800 (50,800) - 48,500 (48,500) - - 29,763 (29,763) - - FERC 923 - Outside Services Employed Outside Services EmployedBattle Creek OperatingConsulting-Administrative - 9,134 (9,134) - 1,845 (1,845) - - 776 (776) - - Battle Creek Operating Total - 9,134 (9,134) - 1,845 (1,845) - - 776 (776) - - FERC 923 - Outside Services Employed Total - 9,134 (9,134) - 1,845 (1,845) - - 776 (776) - - FERC 928 - Regulatory Commission Expenses FERC Admin FeesBattle Creek Operating Administrative Costs - 6,475 (6,475) - 8,893 (8,893) - - - - - - Battle Creek Operating Total - 6,475 (6,475) - 8,893 (8,893) - - - - - - FERC Related Prof ServicesBRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs - 227 (227) - - - - - - - - - BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total - 227 (227) - - - - - - - - - Battle Creek OperatingAdministrative Costs - 2,002 (2,002) - 3,171 (3,171) - - 284 (284) - - Battle Creek Operating Total - 2,002 (2,002) - 3,171 (3,171) - - 284 (284) - - FERC 928 - Regulatory Commission Expenses Total - 8,703 (8,703) - 12,064 (12,064) - - 284 (284) - - O&M 4% Allocation to Battle Creek 303,768 - 303,768 320,638 - 320,638 321,307 160,654 - 160,654 353,748 32,441 Total Bradley Lake Budget 490,268 441,218 49,050 600,938 521,650 79,288 733,784 366,892 305,448 61,444 580,748 (153,036) - - - - - - - - - - - - Page 12 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Battle Creek Monthly Participating Purchaser Contributions Schedule G A B C D E F FY2024 FY2025 FY2026 FY2027 Annual Annual Annual Annual FY2026 to Percent Approved Approved Approved Proposed FY2027 POWER PURCHASER Share Budget Budget Budget Budget Change Chugach Electric 30.40%1,127,194 688,590 738,373 674,646 (63,728) Homer Electric 37.90%1,405,285 858,472 920,538 841,088 (79,450) Matanuska Electric 13.80%511,687 312,583 335,183 306,254 (28,929) Golden Valley Electric 16.90%626,631 382,801 410,477 375,050 (35,428) City of Seward 1.00%37,079 22,651 24,289 22,192 (2,096) 100.00%3,707,875 2,265,097 2,428,860 2,219,229 (209,631) FY2024 FY2025 FY2026 FY2027 FY2026 to Percent Approved Approved Approved Proposed FY2027 POWER PURCHASER Share Monthly Monthly Monthly Monthly Change Chugach Electric 30.40%93,933 57,382 61,531 56,220 (5,311) Homer Electric 37.90%117,107 71,539 76,711 70,091 (6,621) Matanuska Electric 13.80%42,641 26,049 27,932 25,521 (2,411) Golden Valley Electric 16.90%52,219 31,900 34,206 31,254 (2,952) City of Seward 1.00%3,090 1,888 2,024 1,849 (175) 100.00%308,990 188,758 202,405 184,936 (17,469) Page 13 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT SSQ Line Capital Purchases (not funded by R&C Fund) Schedule H FY24 FY25 FY26 FY24 FY25 FY26 FY27 Actuals Approved Approved Approved Proposed Actuals Actuals @12/31/25 Budget Budget Budget Budget Dave's Creek & Soldotna SVC Upgrades - - - - - 250,000 Total Non R&C Capital Purchases - - - - - - 250,000 Capital Project Description Page 14 of 16 FY 26 FY27 Budget Actual (Over) Under Budget to Date Budget Actual (Over) Under Budget to Date Budget Budget to Date 12/31/26 Actual to Date 12/31/25 (Over) Under Budget to Date Proposed Budget Increase (Decrease) From PY Summary by expense type Staff Professional Services (Direct) 15,000 34,357 (19,357) 40,000 7,086 32,914 10,000 5,000 2,079 2,921 15,000 5,000 Labor & Benefits 50,000 - 50,000 50,000 47,722 2,278 50,000 25,000 - 25,000 52,500 2,500 Travel - 338 (338) - 63 (63) - - - - - - Contractual 175,000 - 175,000 150,000 58,795 91,205 150,000 75,000 4,269 70,731 157,500 7,500 Permitting 40,000 2,969 37,031 36,878 72,223 (35,345) 36,878 18,439 3,032 15,408 36,878 - Supplies & Materials 25,000 567 24,433 20,000 52 19,948 20,000 10,000 - 10,000 21,000 1,000 Other Costs - 1,250 (1,250) - - - - - - - - - Equipment, Furniture & Machinery - - - - - - - - - - - - Administrative Costs 2,000 38,439 (36,439) 47,000 5,059 41,941 7,000 3,500 754 2,746 7,000 - Total Bradley Lake Budget 307,000 77,920 229,080 343,878 190,998 152,880 273,878 136,939 10,134 126,806 289,878 16,000 FERC 540 - Rents FERC Land Use FeeSSQ Line Operating Other Costs - 1,250 (1,250) - - - - - - - - - SSQ Line Operating Total - 1,250 (1,250) - - - - - - - - - FERC 540 - Rents Total - 1,250 (1,250) - - - - - - - - - FERC 556 - System Control & Load Dispatching PermitsSSQ Line Operating Permitting 40,000 2,969 37,031 36,878 72,223 (35,345) 36,878 18,439 3,032 15,408 36,878 - SSQ Line Operating Total 40,000 2,969 37,031 36,878 72,223 (35,345) 36,878 18,439 3,032 15,408 36,878 - FERC 556 - System Control & Load Dispatching Total 40,000 2,969 37,031 36,878 72,223 (35,345) 36,878 18,439 3,032 15,408 36,878 - #N/AMaintenance of Station Equip SSQ Line Operating SSQ Line Operating Total - - - - - - - - - - - - #N/A - - - - - - - - - - - - FERC 571 - Maintenance of Overhead Lines Maint of OH LinesSSQ Line Operating Labor & Benefits 50,000 - 50,000 50,000 47,722 2,278 50,000 25,000 - 25,000 52,500 2,500 Contractual 175,000 - 175,000 150,000 58,795 91,205 150,000 75,000 4,269 70,731 157,500 7,500 Supplies & Materials 25,000 - 25,000 20,000 - 20,000 20,000 10,000 - 10,000 21,000 1,000 SSQ Line Operating Total 250,000 - 250,000 220,000 106,517 113,483 220,000 110,000 4,269 105,731 231,000 11,000 FERC 571 - Maintenance of Overhead Lines Total 250,000 - 250,000 220,000 106,517 113,483 220,000 110,000 4,269 105,731 231,000 11,000 FERC 920 & 930 - Administrative ExpenseAEA Bradley Fixed Admin FeesBattle Creek Operating Battle Creek Operating Total - - - - - - - - - - - - SSQ Line OperatingStaff Professional Services (Direct) 15,000 34,357 (19,357) 40,000 7,086 32,914 10,000 5,000 2,079 2,921 15,000 5,000 Travel - 338 (338) - 63 (63) - - - - - - Supplies & Materials - 567 (567) - 52 (52) - - - - - - Administrative Costs - 36,439 (36,439) 20,000 3,059 16,941 - - 754 (754) - - SSQ Line Operating Total 15,000 71,701 (56,701) 60,000 10,259 49,741 10,000 5,000 2,833 2,167 15,000 5,000 General & Administrative Costs General & Administrative Costs Total - - - - - - - - - - - - Trust & Account FeesSSQ Line Operating Administrative Costs 2,000 2,000 - 2,000 2,000 - 2,000 1,000 - 1,000 2,000 - SSQ Line Operating Total 2,000 2,000 - 2,000 2,000 - 2,000 1,000 - 1,000 2,000 - FERC 920 & 930 - Administrative Expense Total 17,000 73,701 (56,701) 62,000 12,259 49,741 12,000 6,000 2,833 3,167 17,000 5,000 FERC 928 - Regulatory Commission ExpensesFERC Related Prof Services BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs - - - 25,000 - 25,000 5,000 2,500 - 2,500 5,000 - BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total - - - 25,000 - 25,000 5,000 2,500 - 2,500 5,000 - FERC 928 - Regulatory Commission Expenses Total - - - 25,000 - 25,000 5,000 2,500 - 2,500 5,000 - Total Bradley Lake Budget 307,000 77,920 229,080 343,878 190,998 152,880 273,878 136,939 10,134 126,806 289,878 16,000 - - - - - - - - - - - - FY 24 FY 25 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT SSQ LINE OPERATIONS & MAINTENANCE BUDGET SCHEDULE I Page 15 of 16 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT SSQ Line Monthly Utility Contributions Schedule J A B C D E F FY2024 FY2025 FY2026 FY2027 Annual Annual Annual Annual FY2026 to Percent Approved Approved Approved Proposed FY2027 Power Purchaser Share Budget Budget Budget Budget Change Chugach Electric 56.30%418,621 409,342 385,203 545,095 159,892 Homer Electric 12.00%89,227 87,249 82,104 116,184 34,080 Matanuska Electric 13.80%102,611 100,336 94,419 133,611 39,192 Golden Valley Electric 16.90%125,661 122,875 115,629 163,625 47,996 City of Seward 1.00%7,436 7,271 6,842 9,682 2,840 100.00%743,555 727,072 684,197 968,197 284,000 FY2024 FY2025 FY2026 FY2027 FY2026 to Power Purchaser Percent Approved Approved Approved Proposed FY2027 Share Monthly Monthly Monthly Monthly Change Chugach Electric 56.30%34,885 34,112 32,100 45,425 13,324 Homer Electric 12.00%7,436 7,271 6,842 9,682 2,840 Matanuska Electric 13.80%8,551 8,361 7,868 11,134 3,266 Golden Valley Electric 16.90%10,472 10,240 9,636 13,635 4,000 City of Seward 1.00%620 606 570 807 237 100.0%61,963 60,589 57,016 80,683 23,667 Page 16 of 16 AEA BPMC Capital Project Finance Update | March 20, 2026 AEA has secured initial funding for both projects, which are actively progressing through early development. However, substantial capital investment is still required to fully execute each initiative. Status Overview Cook Inlet PowerLink Total cost: $413M Funds raised to date: $270.7M Funds still needed: $142.3M Bradley Lake Expansion Project Total cost: $400M Funds raised to date: $20.7M(preconstruction costs) Funds still needed: $400M 1 Bradley Lake Expansion Project AEA is advancing the Bradley Lake Expansion Project—which includes the Dixon Diversion and Bradley Pool Raise sub-projects—and would divert water from Dixon Glacier to increase Bradley Lake’s annual hydropower output by approximately 50 percent As of March 2026, Fiscal Year 2026 funding is secured, environmental studies are underway, a Draft Amendment Application has been submitted to FERC for review, and we continue to meet with a Board of Consultants for design and permitting SOUTHCENTRAL ALASKA Bradley Lake Hydroelectric Project Total Project Cost – $400 Million May Qualify for Up to $100 Million in Federal Tax Credits ESTIMATED ANNUAL OUTPUT180,000 MWh ≈ 30,000 homes powered NATURAL GAS OFFSET 1.5 Billion cu ft 7.5% of unmet demand (2030) TARGET COMPLETION 2031 Shovel-ready status ESTIMATED COST $400 Million Class IV Estimate 2 $3,600,000 $6,850,000 $13,084,000 $99,280,000 $86,391,000 $106,521,000 $9,352,000 2025 2026 2027 2028 2029 2030 2031 Funding Secured (Target):Q3 2026 Construction Begins:May 2027 Commissioning:December 2030 Bradley Lake Expansion ProjectConstruction Cost Timeline (Thousands) 3AEA BPMC Capital Project Finance Update | March 20, 2026 Cook Inlet PowerLink (CIPLink) CIPLink is a high-voltage direct current transmission project connecting the Southern and Central Railbelt regions through a 38-mile subsea cable and overland routes, enabling up to 200 megawatts of bidirectional power flow As of March 2026, preliminary engineering and environmental routing are complete, and the project is advancing into detailed design, permitting, and procurement in alignment with DOE Grid Resilience and Innovation Partnerships timelines SOUTHCENTRAL ALASKA Nikiski – Beluga Intertie Total Project Cost – $413 Million DOE Grant: $206.5 Million; Match of $64.2 Million Secured; $142.3 Million Needed CAPACITY200 MW Bidirectional Flow CONNECTIVITY Railbelt Link Connects South & Central Regions TARGET COMPLETION 2032 Shovel-ready status ESTIMATED COST $413 Million Preliminary Engineering Done 4AEA BPMC Capital Project Finance Update | March 20, 2026 Funding Secured (Target):Q3 2026 Construction Begins:January 2029 Commissioning:April 2032 Cook Inlet PowerLinkConstruction Cost Timeline (Thousands) $618,243 $881,757 $63,825,000 $63,825,000 $100,330,977 $99,565,091 $41,896,396 $42,057,536 $- 2024 2025 2026 2027 2028 2029 2030 2031 2032 5AEA BPMC Capital Project Finance Update | March 20, 2026 Expert Partners Global Law – TechnologyEnergy & Infrastructure – Finance Public Finance Advisory& Capital PlanningGlobal Law – Energy & InfrastructureFinance – Tax Engineering – Architecture – Environmental Consulting(Cook Inlet PowerLink) Engineering – Planning – Surveying(Bradley Lake Hydroelectric Project) 6AEA BPMC Capital Project Finance Update | March 20, 2026 7AEA BPMC Capital Project Finance Update | March 20, 2026 Potential Financial Partners U.S. Department of Energy (DOE) Energy Dominance Financing — Title 17Formerly known as the DOE Loan Programs OfficeTitle 17 Loans for large ($100M+) clean energy projects U.S. Department of Agriculture (USDA)Rural Utilities Service (RUS) — System Borrow ProgramRUS Electric Infrastructure Loans for existing cooperative borrowers—lowest-cost federal financing Tax-Exempt BondsSale of tax-advantaged municipal bonds in the public market at reduced interest rate National Rural Utilities Cooperative Finance Corporation (NRUCFC) — Taxable BondsCurrent bondholder NRUCFC is interested in purchasing another series of Bradley bonds; flexible finance option Taxable Bond MarketSale of bonds in the public market at current market rate 1 2 3 4 5 BRADLEY LAKE BRADLEY LAKE & CIPLINK BRADLEY LAKE & CIPLINK BRADLEY LAKE & CIPLINK 8 BRADLEY LAKE AEA BPMC Capital Project Finance Update | March 20, 2026 Investment Tax Credits – Bradley Lake INVESTMENT TAX CREDITS – significant factor in the financial analysisBradley Lake Expansion Project only; CIPLink is not eligible $100M POTENTIAL TAX CREDIT VALUE Eligibility for Tax Credit Tax credit eligibility analysis for full project scope Maximizing the Tax Credit Dollar Amount Strategies to maximize total credit dollar amount through project structuring and timing The tax credit is reduced by 15 percent if tax-exempt bonds are used in the funding stack 9AEA BPMC Capital Project Finance Update | March 20, 2026 Other Funding Needs SSQ Transmission and Substation Upgrades Project Soldotna–Sterling–Quartz Creek Total Project Cost $178.5 million including substation upgrades ($90 million raised to date) Potential Financial Partners DOE EDF, USDA RUS, NRUCFC,Public bond market Next Steps Pursue financing to complete the project 10AEA BPMC Capital Project Finance Update | March 20, 2026 Dispute Resolution Process - Wheeling Services Agreement 813 W Northern Lights Blvd, Anchorage, AK 99503  Phone: (907) 771-3000  Fax: (907) 771-3044  Email: info@akenergyauthority.org REDUCING THE COST OF ENERGY IN ALASKA AKENERGYAUTHORITY.ORG MEMORANDUM TO: BPMC THROUGH: Curtis Thayer, Executive Director FROM: Jim Mendenhall, P.E., Director of Owned Assets DATE: March 16,2026 SUBJECT: Cook Inlet Power Link (CIPLINK) Update Over the past month, AEA has focused on four primary areas of work: 1.Environmental Review and 2026 Marine Survey Planning As previously reported, AEA issued a Task Order to HDR to advance environmental permitting and planning for the summer 2026 marine survey season. Stantec, acting as Owner’s Engineer, is coordinating with HDR to finalize the survey scope and support procurement of a marine survey contractor. The objective of the 2026 marine survey program is to collect the geophysical, bathymetric, and environmental data necessary to refine the submarine cable route and landfall locations to reduce technical uncertainty for cable suppliers. The survey data will support development of a cable design that meets project environmental and engineering requirements and will inform future procurement and installation planning. AEA is pursuing a U.S. Army Corps of Engineers Nationwide Permit approach for survey activities. Informal consultation under the Endangered Species Act is underway, including consideration of Cook Inlet beluga whale protections through the use of low-impact survey methods. The anticipated agency review period is approximately 8–12 weeks, with permits targeted for issuance by May 2026. Geotechnical drilling is not currently planned for the 2026 marine survey season. However, limited onshore boreholes may be completed later in the year at selected landfall locations to support design and permitting activities. 2.Development of Major Equipment Procurement Documents Stantec continues to support AEA in developing the procurement strategy and solicitation materials for the project’s major long-lead equipment, particularly the HVDC converters and submarine cable. These components are expected to have multiyear manufacturing lead times and represent a critical path for the project schedule. Current work includes development of procurement documentation and evaluation of contracting approaches for these major components. Planned tasks include: a.Determining contracting strategies for HVDC converters and submarine cable b.Preparing and issuing requests for information c.Obtaining preliminary technical information, budgetary pricing, and delivery schedules. Alaska Energy Authority Page 2 of 2 Early market engagement indicates that the global HVDC cable market remains constrained but more available than the converter market. Converter manufacturers typically require a preferred supplier or negotiated agreement before committing significant engineering resources. Firm pricing for these systems typically becomes available after approximately 30 percent design completion. Near term procurement packages are expected to include converters and cables, with overhead AC transmission upgrades, substations, and termination facilities to follow. 3.DOE Negotiations and Community Benefits Plan Adjustment With the elimination of the Community Benefit Plan (CBP) requirements under the DOE program, DOE requested that AEA identify credits associated with work originally budgeted to support CBP work. AEA has prepared a revised Budget Period 2 (BP2) budget reflecting these adjustments. DOE approved retention of $262,969 of the total CBP related federal funds for eligible project activities. The remaining $394,454 in federal funds originally allocated to CBP costs will be deobligated from the award. AEA continues to coordinate with DOE to finalize the BP2 scope and budget. 4.Project Funding and Capital Stack Development Per agenda item 8-A, AEA continues to evaluate options for completing the capital stack for CIPLink and other major Railbelt infrastructure projects. To date, AEA has secured $64.2 million in combined State appropriations and Bradley Lake bond proceeds to support project development. An additional $142.3 million in funding is being pursued to fully meet project cost share obligations. Project expenditures through June 30, 2025 totaled $1,150,569, all of which have been reimbursed by DOE. Total project expenditures through December 31, 2025 are $1,607,467 and will be invoiced following execution of the BP2 agreement. 5.Staffing Update Owned Assets recently hired a staff member to support project development and permitting activities associated with the CIPLink, Bradley Lake Expansion, and other AEA infrastructure projects. This position will support coordination of environmental reviews, agency consultation and permitting activities across the projects. MEMORANDUM TO: Bradley Project Management Committee Through: Curtis Thayer, Executive Director FROM: Ryan McLaughlin, PE, Senior Infrastructure Engineer DATE: March 20, 2026 RE: Bradley Lake Expansion Project Update AEA submitted a Draft Amendment Application (DAA) for the Bradley Lake Expansion Project to the Federal Energy Regulatory Commission (FERC) on February 13, 2026. The application and accompanying study reports are published and publicly available on AEA’s Bradley Expansion webpage. The DAA includes a Preliminary Draft Environmental Analysis as Exhibit E of the application. AEA expects to submit a Final Amendment Application (FAA) 120 days after submittal of the DAA (mid-June) and requests any comments from the public or utilities be submitted to AEA (Ryan McLaughlin) by the end of April so that changes can be incorporated into the FAA. AEA hosted a Terrestrial Resources meeting on March 4th and Aquatics Resources Meeting on March 5th with resource agencies and members of the public. These meetings discussed results of our environmental studies, expected changes and impacts as a result of proposed project actions, and discussions on AEA’s proposed Protection, Mitigation, and Enhancement (PME) measures. AEA will continue coordination with resource agencies to develop a Minimum Instream Flow and further define PME measures before submittal of the FAA. A new cost estimate has been developed for the project and the construction total is ~$400MM. Increases from the previous cost estimates are primarily attributable to inflation and market conditions, full concrete lining of the Dixon-Bradley Tunnel, and increased concrete volumes for spillway modifications. This cost estimate is also inclusive of expected FERC-required modifications to the Bradley dam and spillway to pass the update Probable Maximum Flood. Planning efforts are underway for a long and busy subsurface investigation season. Crews will mobilize during the May high tide window (5/14-16), drill holes in front of the spillway while lake levels are low, an additional hole at the toe of the Bradley dam, geophysics and shallow drilling at the Dixon Diversion Dam site, PS logging through the dam crest, and two deep boreholes along the proposed tunnel alignment (35 days / 1000’ each). 2026 subsurface investigations are expected to be complete by late August / early September. A third Board of Consultants site visit and meeting is scheduled to overlap drilling activities June 23-25. SQ Upgrade Update Bradley Lake Operators Report Page 1 Bradley Lake Operator Report BPMC March 20, 2026 Unit Statistics: Generation Unit 1 (MWhrs) Unit 2 (MWhrs) Total (MWhrs) Jan. 2026 Feb. 2026 Mar. *2026 23,172 20,480 4,637 14,818 9,293 3,179 37,991 29,773 7,817 Hydraulics Avg. Lake Level (ft.) Bradley Fishwater (ac ft.) Battle Creek MIF (ac ft.) Jan. 2026 Feb. 2026 Mar. *2026 1,133 1,124 1,115 2,601 1,678 728 0 0 0 Battle Creek Inflows to Bradley (ac ft.) Jan. 2026 Feb. 2026 Mar. *2026 0 0 0 *Lake Level – 1,114.3’ As of Mar. 9, 2026 Activities • Forced Outages – Unit #2 Failure to shut down. On 16 Feb. 2026 @ 0700hrs. CEA’s attempted to shut down unit #2 failed. Bradley Operator were notified, secured unit #2 and began trouble shooting. The issue was traced to a failed coil in the start /stop circuit. The coil was replaced and tested. The unit was returned to service on 19 Feb. 2026 @0920hrs. • Dam/Spillway – Completed the monthly Dam Safety inspections and the quarterly Penstock Drain inspection. • Battle Creek Diversion- Secured for winter. • Safety – There have been no lost time or reportable accidents for the months of January, February and as of to date in March. Conducted a safety meeting on Jan. 8, 2026 & Feb. 11, 2026. Next safety meeting is March 18, 2026. We conducted Bridge Crane Safety Training on 25 Feb. 2026. • Fire System- Yukon Fire personnel completed the Kidde fire system installation for the control room and generators. They have a small punch list items to address. The parts have been ordered. The system is fully functional. • Arc Flash Study- Completed the five-year update of the Arc Flash study. Updated the equipment with new Arc Flash stickers. • Employee Housing- Complete the restoration work of the fire system water damage in Apt “D” on Feb. 2, 2026. Bradley Lake Operators Report Page 2 Contractors/ Visitors • HEA – Larry Jorgensen & Brad Janorschke, Safety Meeting. • Yucon Fire – Fire System replacement. • Country Electric- Aspin Marlin, Ryan Tony, Phase two of the Kidde Fire System Electrical installation. • Anderson Brothers Construction- Randall Anderson, Andrew Anderson and crew, Apt “D” repairs. • HEA – JD Harris, Bridge Crane Training. • Washington Crane- Mike Marquart, Bridge Crane Training Instructor. Bradley Lake, Feb. 28, 2026. Lake Elevation 1130.6 Bradley Lake Operators Report Page 3 Kidde Control Room and Unit #1 Fire Suppression Bottles Kidde Fire Control Pannel Bradley Lake Operators Report Page 4 Apartment “D” Up-Stairs After Clean-Up After Mold Remediation Finished Sheetrock, Paint & Flooring Bradley Lake Operators Report Page 5 Apartment “D” Downstairs After Clean-Up After Mold Remediation Finished Paint, Sheetrock & New Windows Bradley Lake Operators Report Page 6 Northern Lights Over Bradley 21 Feb 2026 Alaska Energy Authority Bradley Lake Budget to Actual Expenses 07/01/2025 to 12/31/2025 Page 1 of 12 FY24 FY24 FY25 FY25 FY26 FY26 BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS Install New Bradley Microwave System 518,000 45,215 - - - - Brush Hog for Front End Loader 150,000 - - 111,087 - - JLG All Terrain Fork Lift- New Purchase 190,000 213,942 - - - - Replace BL#5 2009 F150 Crew Cab Pickup 45,000 - - 48,995 - - Warehouse Heaters x2 (Replace) 5,000 - - - - - ISO Shipping Containers x2 (Replace) 40,000 30,700 - - - - Polaris Side by Side (Replace) - - 65,000 62,645 - - Crew Quarters Remodel - - 85,000 84,873 - - New Circuit Breaker - Generator #2 - - - 60,988 - - Contex HD Ultra X 3690 Color Scanner - - - 12,620 - - Replace DC Station Service Batteries - - - - 130,000 - Replace Needle Valve Position Arm Bushings - - - - 95,000 - Replace ION Meters - - - - 120,000 - AC unit in powerhouse server room - - - - 38,000 - Powerhouse Control Rm and Office Flooring - - - - 28,000 - Approach Path Indicator Lights (Replace) - - - - 40,000 - Limitorque Actuators on fish water valve (Replace) - - - - 35,000 - Domestic water tank, controls, and filtration system (Replace) - - - - 35,000 - Total Non R&C Capital Purchases 948,000 289,857 150,000 381,209 521,000 - BRADLEY LAKE CAPITAL PURCHASES NOT FUNDED BY R&C FUND ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT SCHEDULE A FOR THE PERIOD 07/01/2025 TO 12/31/2025 BRADLEY LAKE NON-R&C CAPITAL PURCHASES Page 2 of 12 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BRADLEY LAKE OPERATIONS & MAINTENANCE BUDGET TO ACTUAL EXPENSES SCHEDULE B FOR THE PERIOD 07/01/2025 TO 12/31/2025 FY 26 FY 25 FY26 Approved Budget BUDGET % 07/01/2025 - 12/31/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY25 Approved Budget FY25 Actual Summary by expense type Staff Professional Services (Direct)360,000 180,000 - - 257,051 257,051 (77,051) 312,585 501,917 Labor & Benefits 1,497,414 748,707 513,787 12,684 119,952 646,423 102,284 2,054,317 1,435,363 Travel 40,300 20,150 410 - 2,978 3,388 16,762 51,500 57,509 Training 55,000 27,500 14,512 - 475 14,987 12,513 55,000 7,211 Contractual 1,392,497 696,249 492,166 - 137,937 630,103 66,146 1,243,010 1,118,636 Consulting-Administrative 155,000 77,500 - - 19,670 19,670 57,830 315,000 46,433 Supplies & Materials 342,000 171,000 63,870 677 - 64,547 106,453 378,500 296,310 Other Costs 77,518 38,759 22,004 14,483 - 36,487 2,272 112,718 95,087 Equipment, Furniture & Machinery 20,000 10,000 7,890 - 583 8,473 1,527 35,000 19,940 Administrative Costs 2,549,839 1,274,920 34,956 - 876,918 911,874 363,046 1,978,224 2,088,063 Indirect Costs 1,543,116 771,558 645,133 - - 645,133 126,425 1,480,105 1,340,986 O&M 4% Allocation to Battle Creek (321,307) (160,654) - - - - (160,654) (320,638) - Total Bradley Lake Budget 7,711,376 3,855,688 1,794,729 27,844 1,415,565 3,238,138 617,550 7,695,321 7,007,455 FERC 535 - Operation Supervision & Engineering Operations Sup/Eng Bradley Lake Operating Labor & Benefits 109,196 54,598 53,683 - - 53,683 915 105,451 99,743 Travel 5,000 2,500 - - - - 2,500 5,000 668 Training 5,000 2,500 - - - - 2,500 5,000 - Contractual 3,000 1,500 - - - - 1,500 3,000 407 Supplies & Materials 25,000 12,500 1,153 - - 1,153 11,347 4,000 - Indirect Costs 157,071 78,535 74,502 - - 74,502 4,033 155,698 139,723 Bradley Lake Operating Total 304,267 152,134 129,338 - - 129,338 22,795 278,149 240,542 FERC 535 - Operation Supervision & Engineering Total 304,267 152,134 129,338 - - 129,338 22,795 278,149 240,542 FERC 537 - Hydraulic Expenses Hydraulic Expenses Bradley Lake Operating Labor & Benefits 81,895 40,947 40,449 - - 40,449 498 95,262 79,042 Contractual 15,000 7,500 - - - - 7,500 - - Supplies & Materials 10,000 5,000 1,310 - - 1,310 3,690 4,000 1,729 Indirect Costs 113,127 56,564 52,543 - - 52,543 4,021 109,250 108,693 Bradley Lake Operating Total 220,022 110,011 94,302 - - 94,302 15,709 208,512 189,464 FERC 537 - Hydraulic Expenses Total 220,022 110,011 94,302 - - 94,302 15,709 208,512 189,464 FERC 538 - Electric ExpensesElectric Expenses Bradley Lake Operating Labor & Benefits 235,187 117,594 118,254 - - 118,254 (661) 218,044 227,478 Travel 7,000 3,500 303 - - 303 3,197 7,000 293 Training 30,000 15,000 14,512 - - 14,512 488 30,000 3,990 Contractual 18,000 9,000 12,133 - - 12,133 (3,133) 10,000 5,255 Supplies & Materials 23,500 11,750 1,294 - - 1,294 10,456 18,500 5,970 Indirect Costs 280,431 140,215 137,942 - - 137,942 2,274 262,004 268,318 Bradley Lake Operating Total 594,118 297,059 284,437 - - 284,437 12,622 545,548 511,305 FERC 538 - Electric Expenses Total 594,118 297,059 284,437 - - 284,437 12,622 545,548 511,305 FERC 539 - Misc. Hydraulic Power Generation Expenses Misc Hydro Power Exp Bradley Lake OperatingLabor & Benefits 130,567 65,283 34,354 - - 34,354 30,929 107,742 78,868 Training 20,000 10,000 - - - - 10,000 20,000 - Contractual 606,317 303,159 298,728 - - 298,728 4,430 385,067 410,619 Supplies & Materials 30,000 15,000 9,905 - - 9,905 5,095 25,000 45,819 Equipment, Furniture & Machinery - - - - - - - - 2,563 Indirect Costs 122,323 61,162 47,748 - - 47,748 13,414 114,320 111,127 Bradley Lake Operating Total 909,207 454,604 390,736 - - 390,736 63,867 652,129 648,997 BRADLEY CIRCUITS/RADIO TO BERNICE LK Other Costs 35,695 17,848 17,134 - - 17,134 713 35,695 34,268 BRADLEY CIRCUITS/RADIO TO BERNICE LK Total 35,695 17,848 17,134 - - 17,134 713 35,695 34,268 BRADLEY CIRCUITS BERNICE LK TO ANCH Other Costs 29,773 14,887 - 14,483 - 14,483 404 29,773 28,985 BRADLEY CIRCUITS BERNICE LK TO ANCH Total 29,773 14,887 - 14,483 - 14,483 404 29,773 28,985 LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK Other Costs 10,000 5,000 4,870 - - 4,870 130 45,000 24,085 LOWER BRADLEY CIRCUITS/RADIO TO BARGE DOCK Total 10,000 5,000 4,870 - - 4,870 130 45,000 24,085 FERC 539 - Misc. Hydraulic Power Generation Expenses Total 984,675 492,338 412,741 14,483 - 427,223 65,114 762,597 736,335 FERC 541 - Maintenance Supervision & Engineering Maint Supervision/Eng Bradley Lake Operating Labor & Benefits 117,056 58,528 55,603 - - 55,603 2,925 110,451 104,197 Indirect Costs 157,071 78,535 74,502 - - 74,502 4,033 155,698 139,723 Bradley Lake Operating Total 274,127 137,064 130,105 - - 130,105 6,958 266,149 243,920 FERC 541 - Maintenance Supervision & Engineering Total 274,127 137,064 130,105 - - 130,105 6,958 266,149 243,920 FERC 542 - Maintenance of Structures Maintenance of Structures Bradley Lake Operating Labor & Benefits 84,789 42,394 30,808 - - 30,808 11,587 89,710 67,928 Contractual 35,000 17,500 14,804 - - 14,804 2,696 126,000 103,435 Supplies & Materials 44,000 22,000 8,975 - - 8,975 13,025 70,000 40,551 Equipment, Furniture & Machinery 20,000 10,000 7,890 - - 7,890 2,110 20,000 14,623 Indirect Costs 115,838 57,919 42,717 - - 42,717 15,202 102,350 94,601 Bradley Lake Operating Total 299,627 149,814 105,194 - - 105,194 44,619 408,060 321,138 FERC 542 - Maintenance of Structures Total 299,627 149,814 105,194 - - 105,194 44,619 408,060 321,138 FERC 543 - Maintenance of Reservoirs, Dams & Waterways Maint Res, Dams, WWays Bradley Lake Operating Labor & Benefits 17,992 8,996 1,110 - - 1,110 7,886 51,783 13,050 Page 3 of 12 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BRADLEY LAKE OPERATIONS & MAINTENANCE BUDGET TO ACTUAL EXPENSES SCHEDULE B FOR THE PERIOD 07/01/2025 TO 12/31/2025 FY 26 FY 25 FY26 Approved Budget BUDGET % 07/01/2025 - 12/31/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY25 Approved Budget FY25 Actual Contractual 6,500 3,250 11,162 - - 11,162 (7,912) 39,500 41,306 Supplies & Materials 20,000 10,000 283 - - 283 9,717 85,000 63,338 Equipment, Furniture & Machinery - - - - - - - 15,000 - Indirect Costs 22,556 11,278 1,720 - - 1,720 9,558 58,650 16,000 Bradley Lake Operating Total 67,048 33,524 14,275 - - 14,275 19,249 249,933 133,694 BRADLEY POWER TUNNEL MAINT (Dam) Contractual 15,000 7,500 - - - - 7,500 15,000 - BRADLEY POWER TUNNEL MAINT (Dam) Total 15,000 7,500 - - - - 7,500 15,000 - FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total 82,048 41,024 14,275 - - 14,275 26,749 264,933 133,694 FERC 544 - Maintenance of Electric Plant Maintenance of Elec Plant Bradley Lake Operating Labor & Benefits 336,995 168,498 121,607 - - 121,607 46,890 309,110 261,477 Travel 4,500 2,250 108 - - 108 2,142 4,500 530 Contractual 24,000 12,000 37,284 - - 37,284 (25,284) 75,000 60,276 Supplies & Materials 40,000 20,000 7,809 - - 7,809 12,191 40,000 35,276 Indirect Costs 461,361 230,680 169,273 - - 169,273 61,407 423,178 367,649 Bradley Lake Operating Total 866,856 433,428 336,081 - - 336,081 97,347 851,788 725,208 FERC 544 - Maintenance of Electric Plant Total 866,856 433,428 336,081 - - 336,081 97,347 851,788 725,208 FERC 545 - Maintenance of Misc. Hydraulic Plant Maint of Misc Hydr Plant Bradley Lake Operating Labor & Benefits 82,339 41,170 31,999 - - 31,999 9,171 69,297 68,096 Contractual 45,000 22,500 43,938 - - 43,938 (21,438) 45,000 38,420 Supplies & Materials 68,000 34,000 26,890 - - 26,890 7,110 68,000 56,391 Indirect Costs 113,337 56,669 44,186 - - 44,186 12,483 98,957 95,152 Bradley Lake Operating Total 308,677 154,338 147,013 - - 147,013 7,326 281,254 258,059 FERC 545 - Maintenance of Misc. Hydraulic Plant Total 308,677 154,338 147,013 - - 147,013 7,326 281,254 258,059 FERC 556 - System Control & Load Dispatching System Cntl & Load Disp Bradley Lake Operating Labor & Benefits 20,174 10,087 21,159 - - 21,159 (11,072) 20,174 25,978 Contractual 143,500 71,750 20,757 - - 20,757 50,993 103,500 49,188 Supplies & Materials 12,000 6,000 - - - - 6,000 12,000 854 Bradley Lake Operating Total 175,674 87,837 41,916 - - 41,916 45,921 135,674 76,020 Snow Measurement Bradley Lake Operating Contractual 10,000 5,000 - - - - 5,000 10,000 9,600 Bradley Lake Operating Total 10,000 5,000 - - - - 5,000 10,000 9,600 Seismic Service Bradley Lake Operating Contractual 66,498 33,249 - - 28,649 28,649 4,600 64,868 62,273 Bradley Lake Operating Total 66,498 33,249 - - 28,649 28,649 4,600 64,868 62,273 Streamguaging Serv Bradley Lake Operating Contractual 221,682 110,841 - - 109,287 109,287 1,554 216,275 269,784 Bradley Lake Operating Total 221,682 110,841 - - 109,287 109,287 1,554 216,275 269,784 Permits Bradley Lake Operating Other Costs 350 175 - - - - 175 350 240 Bradley Lake Operating Total 350 175 - - - - 175 350 240 FERC 556 - System Control & Load Dispatching Total 474,204 237,102 41,916 - 137,937 179,852 57,250 427,167 417,917 FERC 562 - Station Expenses Station Expenses Bradley Lake Operating Labor & Benefits 99,812 49,906 4,760 12,684 - 17,444 32,462 96,612 135,584 Travel 1,800 900 - - - - 900 2,500 773 Contractual 103,000 51,500 53,360 - - 53,360 (1,860) 79,800 32,843 Supplies & Materials 45,000 22,500 6,251 677 - 6,928 15,572 23,000 25,534 Other Costs 1,700 850 - - - - 850 1,900 1,536 Bradley Lake Operating Total 251,312 125,656 64,371 13,361 - 77,732 47,924 203,812 196,269 FERC 562 - Station Expenses Total 251,312 125,656 64,371 13,361 - 77,732 47,924 203,812 196,269 FERC 570 - Maintenance of Station Equipment Maintenance of Station EquipBradley Lake Operating Bradley Lake Operating Total - - - - - - - - - FERC 570 - Maintenance of Station Equipment Total - - - - - - - - - FERC 571 - Maintenance of Overhead Lines Maint of OH Lines Bradley Lake Operating Labor & Benefits 32,574 16,287 - - - - 16,287 36,500 23,486 Contractual 80,000 40,000 - - - - 40,000 70,000 35,229 Supplies & Materials 20,000 10,000 - - - - 10,000 20,000 11,965 Bradley Lake Operating Total 132,574 66,287 - - - - 66,287 126,500 70,681 FERC 571 - Maintenance of Overhead Lines Total 132,574 66,287 - - - - 66,287 126,500 70,681 FERC 920 & 930 - Administrative Expense AEA Bradley Fixed Admin Fees Bradley Lake Operating Staff Professional Services (Direct)360,000 180,000 - - 257,051 257,051 (77,051) 312,585 501,917 Travel - - - - 2,978 2,978 (2,978) - 53,177 Training - - - - 475 475 (475) - 3,221 Consulting-Administrative - - - - 1,037 1,037 (1,037) - 2,153 Supplies & Materials - - - - - - - - 8,882 Other Costs - - - - - - - - 5,972 Equipment, Furniture & Machinery - - - - 583 583 (583) - 2,754 Administrative Costs 240,000 120,000 - - 114,738 114,738 5,262 172,500 455,441 Page 4 of 12 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BRADLEY LAKE OPERATIONS & MAINTENANCE BUDGET TO ACTUAL EXPENSES SCHEDULE B FOR THE PERIOD 07/01/2025 TO 12/31/2025 FY 26 FY 25 FY26 Approved Budget BUDGET % 07/01/2025 - 12/31/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY25 Approved Budget FY25 Actual Bradley Lake Operating Total 600,000 300,000 - - 376,862 376,862 (76,862) 485,085 1,033,515 Operating Committee Exp-Audit Bradley Lake Operating Administrative Costs 45,000 22,500 - - - - 22,500 41,000 38,534 Bradley Lake Operating Total 45,000 22,500 - - - - 22,500 41,000 38,534 Operating Committee Exp-Legal Bradley Lake Operating Administrative Costs 80,000 40,000 - - 60,885 60,885 (20,885) 80,000 125,918 Bradley Lake Operating Total 80,000 40,000 - - 60,885 60,885 (20,885) 80,000 125,918 Misc Admin Bradley Lake Operating Administrative Costs 13,000 6,500 - - 15,103 15,103 (8,603) 13,000 14,634 Bradley Lake Operating Total 13,000 6,500 - - 15,103 15,103 (8,603) 13,000 14,634 Professional Consultants Bradley Lake Operating Labor & Benefits 148,836 74,418 - - 119,952 119,952 (45,534) 744,181 250,437 Travel 22,000 11,000 - - - - 11,000 32,500 2,068 Supplies & Materials 4,500 2,250 - - - - 2,250 9,000 - Bradley Lake Operating Total 175,336 87,668 - - 119,952 119,952 (32,284) 785,681 252,505 FERC 920 & 930 - Administrative Expense Total 913,336 456,668 - - 572,802 572,802 (116,134) 1,404,766 1,465,107 FERC 924 & 925 - Insurance Premiums Insurance Premiums Bradley Lake Operating Administrative Costs 1,581,839 790,920 34,956 - 679,368 714,323 76,596 1,371,724 1,164,007 Bradley Lake Operating Total 1,581,839 790,920 34,956 - 679,368 714,323 76,596 1,371,724 1,164,007 FERC 924 & 925 - Insurance Premiums Total 1,581,839 790,920 34,956 - 679,368 714,323 76,596 1,371,724 1,164,007 FERC 923 - Outside Services Employed Outside Services Employed Bradley Lake Operating Consulting-Administrative 155,000 77,500 - - 18,634 18,634 58,866 315,000 44,280 Bradley Lake Operating Total 155,000 77,500 - - 18,634 18,634 58,866 315,000 44,280 FERC 923 - Outside Services Employed Total 155,000 77,500 - - 18,634 18,634 58,866 315,000 44,280 FERC 928 - Regulatory Commission Expenses FERC Admin Fees Bradley Lake OperatingAdministrative Costs 170,000 85,000 - - - - 85,000 180,000 213,420 Bradley Lake Operating Total 170,000 85,000 - - - - 85,000 180,000 213,420 FERC Related Prof ServicesBRADLEY FERC PART 12 INSPECTION Administrative Costs 300,000 150,000 - - - - 150,000 - - BRADLEY FERC PART 12 INSPECTION Total 300,000 150,000 - - - - 150,000 - - BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs 120,000 60,000 - - 6,825 6,825 53,175 120,000 76,109 BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 120,000 60,000 - - 6,825 6,825 53,175 120,000 76,109 FERC 928 - Regulatory Commission Expenses Total 590,000 295,000 - - 6,825 6,825 288,175 300,000 289,529 O&M 4% Allocation to Battle Creek (321,307) (160,654) - - - - (160,654) (320,638) - Total Bradley Lake Budget 7,711,376 3,855,688 1,794,729 27,844 1,415,565 3,238,138 617,550 7,695,321 7,007,455 - - - - - - - - - Page 5 of 12 Actual Projected Actual Projected Actual Projected@ 6/30/24 TO REPAY Budget @ 6/30/25 TO REPAY Budget @ 6/30/26 TO REPAY Budget Description Expense @6/30/24 FY24 Expense @6/30/25 FY25 Expense @6/30/26 FY26 R&C FUND PROJECTS Governor - 4,052,070 - - 4,052,070 - - 4,052,070 - Replace RFLS - 251,093 - - 251,093 - - 251,093 - Replace Runners - 1,946,733 - - 1,946,733 - - 1,946,733 - Replace cable from dam to power house - 2,321,923 - - 2,321,923 - - 2,321,923 - Replace power system stabilizer - 619,205 - - 619,205 - - 619,205 - Replace two RTUs - 86,905 - - 86,905 - - 86,905 - Culvert Repairs - 675,967 - - 675,967 - - 675,967 - Tower Repair for Jack Frost Heaves - 887,597 - - 887,597 - - 887,597 - Replace Plant and SCADA Controls - 1,344,683 - - 1,344,683 - - 1,344,683 - Vibration Monitoring System - 490 - - 490 - - 490 - Fire Alarm System Replacement 33,942 171,339 1,338,000 - 171,339 1,307,299 205,000 376,339 1,471,407 Battle Creek Diversion - 1,170,000 - - 1,170,000 - - 1,170,000 - Bradley Replace Electro-Mechanical Relays - 1,277,197 - - 1,277,197 - - 1,277,197 - Fishwater Screen Debris Removal - 312,236 - - 312,236 - - 312,236 - Turbine Nozzle Repair - 1,428,861 - - 1,428,861 - - 1,428,861 - SVC replacement Daves Creek | Soldotna - 8,517,991 - - 8,517,991 - - 8,517,991 - Equipment Storage Shed - 510,550 - - 510,550 - - 510,550 - Emerson Operating System Upgrade - 622,665 - - 622,665 - - 622,665 - Generator #2 Replacement - 953,213 - - 953,213 - - 953,213 - Road Grader - 342,330 - - 342,330 - - 342,330 - Battle Creek Construction - 3,739,591 - - 3,739,591 - - 3,739,591 - Battle Creek Cash Call-Expended - 750,000 - - 750,000 - - 750,000 - Battle Creek Cash Call-Paid by Utilities - (750,000) - - (750,000) - - (750,000) - Needle Repairs - 1,482,791 - - 1,482,791 - - 1,482,791 - Construct Additional Residence 805,515 1,000,284 910,000 75,156 1,075,440 - - 1,075,440 - Bradley Lake Expansion Project**176,092 1,384,822 252,000 774,357 2,159,179 839,270 62,582 2,221,761 - Needle Valve Rebuild 198,086 198,086 1,579,535 1,504,127 1,702,213 1,719,535 - 1,702,213 - Barge Dock Rehabilitation - - - 401 401 600,000 - 401 600,000 Critical Spare (2) Nozzle Assemblies - - - - - - - - 400,000 Change out turbine nozzles units #1 and #2 - - - - - - - - 1,021,000 1,213,635 35,298,622 4,079,535 2,354,041 37,652,663 4,466,103 267,582 37,920,245 3,492,407 Current Year R&C Repayment (3,338,646) (2,580,808) (2,580,808) Adjust balance to $5 million - - - Interest in Fund Applied to Repayment (246,205) (157,748) (54,343) Net Transfer from Revenue Fund (3,584,851) (2,738,556) (2,635,151) Cumulative Prior Years R&C Repayments (31,677,137) (33,746,653) (35,082,970) Due to (from) Utilities 1,515,335 1,402,238 2,635,151 Adjust Due to R&C Actual - - - (30,161,802) (32,344,414) (32,447,820) NET DUE TO R&C FUND 1,551,969 2,569,693 2,837,275 R&C FUND CASH FLOW PROJECTION Beginning Investment Balance 4,370,333 6,177,000 6,186,586 Disbursements-current year -Accrual - - - Disbursements-prior year accrued (789,379) (1,213,635) (2,354,041) Utilities' R&C Refund (988,805) (1,515,335) (1,402,238) Net other cash inflow(outflow) - - - Current year interest earnings 246,205 157,748 54,343 Participants Contributions to R&C Fund 3,338,646 2,580,808 2,580,808 Ending Investment Balance 6,177,000 6,186,586 5,065,458 Accrued Due to (from) Utilities (1,515,335) (1,402,238) (2,635,151) R&C payable back to the revenue fund - - - Accrued R&C vendor Payable at Year End (1,213,635) (2,354,041) (267,582) PROJECTED NET DUE + ENDING INVESTMENT BALANCE 5,000,000 5,000,000 5,000,000 Bradley Lake Expansion Project Budget Committed Encumbered Actuals Variance Bradley Lake R&C Fund 2,300,000 22,280 57,384 2,220,336 - REF Grant (CEA) 1,000,000 - 315,640 684,360 - REF Grant Match 1,000,000 - - - 1,000,000 State Hydro Development 5,000,000 20,000 124,240 4,855,760 - State Railbelt 1,379,700 - 626,644 753,056 - Bond Series 11 Interest 6,000,000 - 1,402,612 236,512 4,360,875 Bradley Lake Dixon Diversion 4,000,000 - 2,470,865 1,529,135 - Total Project Cost at 12/31/25 20,679,700 42,280 4,997,385 10,279,159 5,360,875 4th 1,321,709 3rd 247,054 4th 247,054 2nd 197,345 3rd 197,345 4th 197,345 1st 303,409 2nd 303,409 3rd 303,409 1st 588,510 2nd 588,510 1st 66,896 2,069,516 1,336,318 1,156,159 BRADLEY LAKE HYDROELECTRIC PROJECT R&C FUND DISBURSEMENTS AND REPAYMENTS SCHEDULE D FOR THE PERIOD 07/01/2025 T0 12/31/2025 ALASKA ENERGY AUTHORITY Page 6 of 12 FY24 FY24 FY25 FY25 FY26 FY26 BUDGET ACTUALS BUDGET ACTUALS BUDGET ACTUALS Battle Creek Associated Costs 15,000 - - - - - Survey and Monument DNR Lease 150,000 88,651 5,000 2,621 5,000 - Total Non R&C Capital Purchases 165,000 88,651 5,000 2,621 5,000 - BATTLE CREEK CAPITAL PURCHASES NOT FUNDED BY R&C FUND ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT BATTLE CREEK NON-R&C CAPITAL PURCHASES SCHEDULE E FOR THE PERIOD 07/01/2025 TO 12/31/2025 Page 7 of 12 BATTLE CREEK OPERATIONS & MAINTENANCE BUDGET TO ACTUAL EXPENSES SCHEDULE F FOR THE PERIOD 07/01/2025 TO 12/31/2025 FY 26 FY 25 FY26 Approved Budget BUDGET % 07/01/2025 - 12/31/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY25 Approved Budget FY25 Actual Summary by expense type Staff Professional Services (Direct)50,000 25,000 - - 22,750 22,750 2,250 50,000 46,192 Labor & Benefits 10,000 5,000 21,408 529 4,998 26,934 (21,934) 10,000 59,807 Travel - - 17 - 124 141 (141) - 3,322 Training - - 605 - 20 624 (624) - 300 Contractual 333,477 166,739 20,507 - 164,233 184,740 (18,002) 201,300 243,987 Consulting-Administrative - - - - 820 820 (820) - 1,935 Supplies & Materials 5,000 2,500 2,661 28 - 2,689 (189) 5,000 12,346 Other Costs - - 917 603 - 1,520 (1,520) - 3,962 Equipment, Furniture & Machinery - - 329 - 24 353 (353) - 831 Administrative Costs 14,000 7,000 1,456 - 36,538 37,995 (30,995) 14,000 93,093 Indirect Costs - - 26,881 - - 26,881 (26,881) - 55,874 O&M 4% Allocation to Battle Creek 321,307 160,654 - - - - 160,654 320,638 - Total Battle Creek Budget 733,784 366,892 74,780 1,160 229,508 305,448 61,444 600,938 521,650 FERC 535 - Operation Supervision & Engineering Operations Sup/Eng Battle Creek Operating Labor & Benefits 1,500 750 2,237 - - 2,237 (1,487) 1,500 4,156 Travel - - - - - - - - 28 Contractual - - - - - - - - 17 Supplies & Materials 1,000 500 48 - - 48 452 1,000 - Indirect Costs - - 3,104 - - 3,104 (3,104) - 5,822 Battle Creek Operating Total 2,500 1,250 5,389 - - 5,389 (4,139) 2,500 10,023 FERC 535 - Operation Supervision & Engineering Total 2,500 1,250 5,389 - - 5,389 (4,139) 2,500 10,023 FERC 537 - Hydraulic Expenses Hydraulic Expenses Battle Creek Operating Labor & Benefits 1,500 750 1,685 - - 1,685 (935) 1,500 3,293 Contractual 277,177 138,589 - - 143,736 143,736 (5,147) 145,000 141,077 Supplies & Materials 1,000 500 55 - - 55 445 1,000 72 Indirect Costs - - 2,189 - - 2,189 (2,189) - 4,529 Battle Creek Operating Total 279,677 139,839 3,929 - 143,736 147,665 (7,827) 147,500 148,972 FERC 537 - Hydraulic Expenses Total 279,677 139,839 3,929 - 143,736 147,665 (7,827) 147,500 148,972 FERC 538 - Electric Expenses Electric ExpensesBattle Creek Operating Labor & Benefits 1,500 750 4,927 - - 4,927 (4,177) 1,500 9,478 Travel - - 13 - - 13 (13) - 12 Training - - 605 - - 605 (605) - 166 Contractual - - 506 - - 506 (506) - 219 Supplies & Materials 1,000 500 54 - - 54 446 1,000 249 Indirect Costs - - 5,748 - - 5,748 (5,748) - 11,180 Battle Creek Operating Total 2,500 1,250 11,852 - - 11,852 (10,602) 2,500 21,304 FERC 538 - Electric Expenses Total 2,500 1,250 11,852 - - 11,852 (10,602) 2,500 21,304 FERC 539 - Misc. Hydraulic Power Generation Expenses Misc Hydro Power Exp Battle Creek Operating Labor & Benefits 1,500 750 1,431 - - 1,431 (681) 1,500 3,286 Contractual - - 12,447 - - 12,447 (12,447) - 17,109 Supplies & Materials 1,000 500 413 - - 413 87 1,000 1,909 Other Costs - - 917 603 - 1,520 (1,520) - 3,639 Equipment, Furniture & Machinery - - - - - - - - 107 Indirect Costs - - 1,990 - - 1,990 (1,990) - 4,630 Battle Creek Operating Total 2,500 1,250 17,198 603 - 17,801 (16,551) 2,500 30,681 FERC 539 - Misc. Hydraulic Power Generation Expenses Total 2,500 1,250 17,198 603 - 17,801 (16,551) 2,500 30,681 FERC 541 - Maintenance Supervision & Engineering Maint Supervision/Eng Battle Creek Operating Labor & Benefits 2,500 1,250 2,317 - - 2,317 (1,067) 2,500 4,342 Indirect Costs - - 3,104 - - 3,104 (3,104) - 5,822 Battle Creek Operating Total 2,500 1,250 5,421 - - 5,421 (4,171) 2,500 10,163 FERC 541 - Maintenance Supervision & Engineering Total 2,500 1,250 5,421 - - 5,421 (4,171) 2,500 10,163 FERC 542 - Maintenance of Structures Maintenance of Structures Battle Creek Operating Labor & Benefits 1,500 750 1,284 - - 1,284 (534) 1,500 2,830 Contractual - - 617 - - 617 (617) - 4,310 Supplies & Materials 1,000 500 374 - - 374 126 1,000 1,690 Equipment, Furniture & Machinery - - 329 - - 329 (329) - 609 Indirect Costs - - 1,780 - - 1,780 (1,780) - 3,942 Battle Creek Operating Total 2,500 1,250 4,383 - - 4,383 (3,133) 2,500 13,381 FERC 542 - Maintenance of Structures Total 2,500 1,250 4,383 - - 4,383 (3,133) 2,500 13,381 FERC 543 - Maintenance of Reservoirs, Dams & Waterways Maint Res, Dams, WWays Battle Creek Operating Labor & Benefits - - 46 - - 46 (46) - 544 Contractual - - 465 - - 465 (465) - 1,721 Supplies & Materials - - 12 - - 12 (12) - 2,639 Indirect Costs - - 72 - - 72 (72) - 667 Battle Creek Operating Total - - 595 - - 595 (595) - 5,571 FERC 543 - Maintenance of Reservoirs, Dams & Waterways Total - - 595 - - 595 (595) - 5,571 FERC 544 - Maintenance of Electric Plant Maintenance of Elec Plant Battle Creek Operating Labor & Benefits - - 5,067 - - 5,067 (5,067) - 10,895 Travel - - 4 - - 4 (4) - 22 ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Page 8 of 12 BATTLE CREEK OPERATIONS & MAINTENANCE BUDGET TO ACTUAL EXPENSES SCHEDULE F FOR THE PERIOD 07/01/2025 TO 12/31/2025 FY 26 FY 25 FY26 Approved Budget BUDGET % 07/01/2025 - 12/31/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY25 Approved Budget FY25 Actual ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Contractual - - 1,554 - - 1,554 (1,554) - 2,511 Supplies & Materials - - 325 - - 325 (325) - 1,470 Indirect Costs - - 7,053 - - 7,053 (7,053) - 15,319 Battle Creek Operating Total - - 14,003 - - 14,003 (14,003) - 30,217 FERC 544 - Maintenance of Electric Plant Total - - 14,003 - - 14,003 (14,003) - 30,217 FERC 545 - Maintenance of Misc. Hydraulic Plant Maint of Misc Hydr Plant Battle Creek Operating Labor & Benefits - - 1,333 - - 1,333 (1,333) - 2,837 Contractual - - 1,831 - - 1,831 (1,831) - 1,601 Supplies & Materials - - 1,120 - - 1,120 (1,120) - 2,350 Indirect Costs - - 1,841 - - 1,841 (1,841) - 3,965 Battle Creek Operating Total - - 6,126 - - 6,126 (6,126) - 10,752 FERC 545 - Maintenance of Misc. Hydraulic Plant Total - - 6,126 - - 6,126 (6,126) - 10,752 FERC 556 - System Control & Load Dispatching System Cntl & Load Disp Bradley Lake Operating Bradley Lake Operating Total - - - - - - - - - Battle Creek Operating Labor & Benefits - - 882 - - 882 (882) - 1,082 Contractual - - 865 - - 865 (865) - 2,049 Supplies & Materials - - - - - - - - 36 Battle Creek Operating Total - - 1,746 - - 1,746 (1,746) - 3,167 Snow Measurement Battle Creek Operating Contractual - - - - - - - - 400 Battle Creek Operating Total - - - - - - - - 400 Seismic Service Battle Creek Operating Contractual - - - - 1,194 1,194 (1,194) - 2,595 Battle Creek Operating Total - - - - 1,194 1,194 (1,194) - 2,595 Streamguaging Serv Battle Creek Operating Contractual 56,300 28,150 - - 19,304 19,304 8,846 56,300 67,541 Battle Creek Operating Total 56,300 28,150 - - 19,304 19,304 8,846 56,300 67,541 Permits Battle Creek Operating Other Costs - - - - - - - - 10 Battle Creek Operating Total - - - - - - - - 10 FERC 556 - System Control & Load Dispatching Total 56,300 28,150 1,746 - 20,497 22,244 5,906 56,300 73,713 FERC 562 - Station Expenses Station Expenses Battle Creek Operating Labor & Benefits - - 198 529 - 727 (727) - 5,649 Travel - - - - - - - - 32 Contractual - - 2,223 - - 2,223 (2,223) - 1,368 Supplies & Materials - - 260 28 - 289 (289) - 1,064 Other Costs - - - - - - - - 64 Battle Creek Operating Total - - 2,682 557 - 3,239 (3,239) - 8,178 FERC 562 - Station Expenses Total - - 2,682 557 - 3,239 (3,239) - 8,178 FERC 571 - Maintenance of Overhead LinesMaint of OH Lines Battle Creek Operating Labor & Benefits - - - - - - - - 979 Contractual - - - - - - - - 1,468 Supplies & Materials - - - - - - - - 499 Battle Creek Operating Total - - - - - - - - 2,945 FERC 571 - Maintenance of Overhead Lines Total - - - - - - - - 2,945 FERC 920 & 930 - Administrative Expense AEA Bradley Fixed Admin Fees Battle Creek Operating Staff Professional Services (Direct)50,000 25,000 - - 22,750 22,750 2,250 50,000 46,192 Travel - - - - 124 124 (124) - 3,142 Training - - - - 20 20 (20) - 134 Consulting-Administrative - - - - 43 43 (43) - 90 Supplies & Materials - - - - - - - - 370 Other Costs - - - - - - - - 249 Equipment, Furniture & Machinery - - - - 24 24 (24) - 115 Administrative Costs - - - - 4,781 4,781 (4,781) - 18,977 Battle Creek Operating Total 50,000 25,000 - - 27,743 27,743 (2,743) 50,000 69,268 Operating Committee Exp-Audit Battle Creek Operating Administrative Costs - - - - - - - - 1,606 Battle Creek Operating Total - - - - - - - - 1,606 Operating Committee Exp-Legal Battle Creek Operating Administrative Costs 5,000 2,500 - - 2,537 2,537 (37) 5,000 5,247 Battle Creek Operating Total 5,000 2,500 - - 2,537 2,537 (37) 5,000 5,247 Operat Committee Exp-Arbitrage Battle Creek Operating Administrative Costs 2,500 1,250 - - - - 1,250 2,500 1,690 Battle Creek Operating Total 2,500 1,250 - - - - 1,250 2,500 1,690 Trust & Account Fees Battle Creek Operating Administrative Costs 5,500 2,750 - - - - 2,750 5,500 4,400 Battle Creek Operating Total 5,500 2,750 - - - - 2,750 5,500 4,400 Page 9 of 12 BATTLE CREEK OPERATIONS & MAINTENANCE BUDGET TO ACTUAL EXPENSES SCHEDULE F FOR THE PERIOD 07/01/2025 TO 12/31/2025 FY 26 FY 25 FY26 Approved Budget BUDGET % 07/01/2025 - 12/31/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY25 Approved Budget FY25 Actual ALASKA ENERGY AUTHORITY BRADLEY LAKE HYDROELECTRIC PROJECT Misc Admin Battle Creek Operating Administrative Costs 1,000 500 - - 629 629 (129) 1,000 610 Battle Creek Operating Total 1,000 500 - - 629 629 (129) 1,000 610 Professional Consultants Battle Creek Operating Labor & Benefits - - - - 4,998 4,998 (4,998) - 10,435 Travel - - - - - - - - 86 Battle Creek Operating Total - - - - 4,998 4,998 (4,998) - 10,521 FERC 920 & 930 - Administrative Expense Total 64,000 32,000 - - 35,907 35,907 (3,907) 64,000 93,341 FERC 924 & 925 - Insurance Premiums Insurance Premiums Battle Creek Operating Administrative Costs - - 1,456 - 28,307 29,763 (29,763) - 48,500 Battle Creek Operating Total - - 1,456 - 28,307 29,763 (29,763) - 48,500 FERC 924 & 925 - Insurance Premiums Total - - 1,456 - 28,307 29,763 (29,763) - 48,500 FERC 923 - Outside Services Employed Outside Services Employed Battle Creek Operating Consulting-Administrative - - - - 776 776 (776) - 1,845 Battle Creek Operating Total - - - - 776 776 (776) - 1,845 FERC 923 - Outside Services Employed Total - - - - 776 776 (776) - 1,845 FERC 928 - Regulatory Commission Expenses FERC Admin Fees Battle Creek Operating Administrative Costs - - - - - - - - 8,893 Battle Creek Operating Total - - - - - - - - 8,893 FERC Related Prof Services Battle Creek Operating Administrative Costs - - - - 284 284 (284) - 3,171 Battle Creek Operating Total - - - - 284 284 (284) - 3,171 FERC 928 - Regulatory Commission Expenses Total - - - - 284 284 (284) - 12,064 O&M Allocation to Battle Creek 321,307 160,654 - - - - 160,654 320,638 - Total Battle Creek Budget 733,784 366,892 74,780 1,160 229,508 305,448 61,444 600,938 521,650 - - - - - - - - - Page 10 of 12 FY 26 FY 25 FY26 Approved Budget BUDGET % 07/01/2025 - 12/31/2025 HEA Actual CEA Actual AEA Actual Total Actual (Over) Under Budget to Date FY25 Approved Budget FY25 Actual Summary by expense type Staff Professional Services (Direct)10,000 5,000 - - 2,079 2,079 2,921 40,000 7,086 Labor & Benefits 50,000 25,000 - - - - 25,000 50,000 47,722 Travel - - - - - - - - 63 Contractual 150,000 75,000 4,269 - - 4,269 70,731 150,000 58,795 Permitting 36,878 18,439 - - 3,032 3,032 15,408 36,878 72,223 Supplies & Materials 20,000 10,000 - - - - 10,000 20,000 52 Administrative Costs 7,000 3,500 - - 754 754 2,746 47,000 5,059 Total SSQ Line Budget 273,878 136,939 4,269 - 5,865 10,134 126,806 343,878 190,998 FERC 556 - System Control & Load Dispatching Permits SSQ Line Operating Permitting 36,878 18,439 - - 3,032 3,032 15,408 36,878 72,223 SSQ Line Operating Total 36,878 18,439 - - 3,032 3,032 15,408 36,878 72,223 FERC 556 - System Control & Load Dispatching Total 36,878 18,439 - - 3,032 3,032 15,408 36,878 72,223 FERC 570 - Maintenance of Station Equipment Maintenance of Station Equip SSQ Line Operating SSQ Line Operating Total - - - - - - - - - FERC 570 - Maintenance of Station Equipment Total - - - - - - - - - FERC 571 - Maintenance of Overhead Lines Maint of OH Lines SSQ Line Operating Labor & Benefits 50,000 25,000 - - - - 25,000 50,000 47,722 Contractual 150,000 75,000 4,269 - - 4,269 70,731 150,000 58,795 Supplies & Materials 20,000 10,000 - - - - 10,000 20,000 - SSQ Line Operating Total 220,000 110,000 4,269 - - 4,269 105,731 220,000 106,517 FERC 571 - Maintenance of Overhead Lines Total 220,000 110,000 4,269 - - 4,269 105,731 220,000 106,517 FERC 920 & 930 - Administrative Expense AEA Bradley Fixed Admin Fees SSQ Line Operating Staff Professional Services (Direct)10,000 5,000 - - 2,079 2,079 2,921 40,000 7,086 Travel - - - - - - - - 63 Supplies & Materials - - - - - - - - 52 Administrative Costs - - - - 754 754 (754) 20,000 3,059 SSQ Line Operating Total 10,000 5,000 - - 2,833 2,833 2,167 60,000 10,259 Trust & Account Fees SSQ Line Operating Administrative Costs 2,000 1,000 - - - - 1,000 2,000 2,000 SSQ Line Operating Total 2,000 1,000 - - - - 1,000 2,000 2,000 FERC 920 & 930 - Administrative Expense Total 12,000 6,000 - - 2,833 2,833 3,167 62,000 12,259 FERC 928 - Regulatory Commission Expenses FERC Related Prof Services BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Administrative Costs 5,000 2,500 - - - - 2,500 25,000 - BRADLEY CONTRACTUAL ENGINEER-FERC LICENSE ISSUES Total 5,000 2,500 - - - - 2,500 25,000 - FERC 928 - Regulatory Commission Expenses Total 5,000 2,500 - - - - 2,500 25,000 - Total SSQ Line Budget 273,878 136,939 4,269 - 5,865 10,134 126,806 343,878 190,998 - - - - - - - - - ALASKA ENERGY AUTHORITY SSQ LINE OPERATIONS & MAINTENANCE SCHEDULE I BUDGET TO ACTUAL EXPENSES FOR THE PERIOD 07/01/2025 TO 12/31/2025 BRADLEY LAKE HYDROELECTRIC PROJECT Page 11 of 12 Source Construction Funds at 11/30/22 Investment Expenses Calculated Capital Reserve at 11/30/22 Released from Capital Reserve Earned Interest Income Total Available Funding Required Project Work Bond Series 11 Funding 166,013,134 (157,250) (12,454,346) 1,590,422 20,597,857 175,589,817 BESS Required Project Work Bond Series 11 Funded Capital Projects Total Funding Project Budget Committed Encumbered Total Actual Costs (Over) / Under Project Budget (Over) / Under Total Funding BRADLEY HEA BESS Preliminary Study 75,000 - 22,473 958 51,569 Oscillation Dampening Service - CEA 16,072,398 - - 1,299,040 14,773,358 Oscillation Dampening Service - MEA 3,870,839 - - 312,857 3,557,982 Oscillation Dampening Service - AEEC 3,365,947 - - 253,347 3,112,600 Total BESS Capital Projects 23,690,538 23,384,183 - 22,473 1,866,203 21,495,508 21,801,863 Transmission Required Project Work Bond Series 11 Funded Capital Projects Total Funding Project Budget Committed Encumbered Total Actual Costs (Over) / Under Project Budget (Over) / Under Total Funding SSQ Line Sterling-Qtz Ck 230kV Construction 88,085,000 - 26,799 14,271,027 73,787,174 Soldotna-Sterling 230kV Construction 36,135,000 - - 998,015 35,136,985 Bradley Lake Expansion Project 6,000,000 - 1,402,612 236,512 4,360,875 BRADLEY Required Project Work Support - - - 173,411 (173,411) Bradley RPW - Bond Series 11 - - - 58,032 (58,032) Total Transmission Capital Projects 85,711,000 130,220,000 - 1,429,412 15,736,997 113,053,591 68,544,591 GRIP 3 Round 1 Required Project Work Bond Series 11 Funded Projects - HVDC Line Total Funding Project Budget Committed Encumbered Total Actual Costs (Over) / Under Project Budget (Over) / Under Total Funding Allocate from BESS AEA Resolution 24-12 30,000,000 - - - 30,000,000 Allocate from Transmission AEA Resolution 24-02 20,000,000 - - - 20,000,000 Total Grip 3 Round 1 Capital Projects 50,000,000 50,000,000 - - - 50,000,000 50,000,000 Unassigned Earned Interest Income 16,188,279 - - - - - 16,188,279 Total Required Project Work 175,589,817 203,604,183 - 1,451,885 17,603,200 184,549,099 156,534,733 50,000,000 50,000,000 68,544,591 85,711,000 23,690,538 21,801,863 12/31/2025 APPENDIX ACAPITAL PROJECTS FUNDED BY SERIES 11 BOND PROCEEDS BRADLEY LAKE HYDROELECTRIC PROJECT ALASKA ENERGY AUTHORITY Page 12 of 12 Bradley Operation and Dispatch Committee Report March 20th, 2026 Meeting Dates: January 23rd, 2026, February 20th, 2026, and March 13th, 2026 Notable Discussions and Items: □ O&D forwarded budget for inclusion in the full budget Water Tracking & Lake Level: □ As of March 1st, 2026, Bradley Lake contained approximately 78,533 MWh of energy. Committee Assignments: □ CEA continues work to address SCADA challenges to allow HEA wheeling capacity as defined in the existing Bradley agreement. □ BPMC approved - CEA & HEA investigating appropriate relay settings - $15k spend limit. • HEA and CEA are working on the development of work scope for best practice analysis. Next Meeting: April 17th, 2025 @ 10am