GFDA Investors, Partners & Friends With the publication of our updated Economic Development Strategy, I thought it would be useful to give our investors, partners, and friends a 30,000 foot overview of what the Great Falls Development Alliance has been working on. Our 2024-226 Strategy aims to increase our capacity and sharpen our focus to generate greater economic impact. To achieve this, we have been working to strengthen GFDA in 10 key areas: 1) Delinquent Loans I am pleased to report that we have lowered our loan delinquency rate from 12% to 1% and expect to fully recover every dollar on our past delinquent loans, including all accrued interest, late fees, and legal fees, by this time next year. 2) Loan Capital We set a goal of raising $8 million in additional loan capital in December 2023 and have already secured 37% of this. We expect to reach the two-thirds mark by the end of the calendar year. 3) Market Knowledge We have completed the vet school feasibility, housing demand update, logistics, energy and downtown Great Falls market assessments, and just issued the RFP for the recreation and entertainment market assessment. We are raising funds to update the childcare market assessment. 4) Great Falls AgriTech Park Our investment in the AgriTech Park had already proved its worth when it kept us in the running for the ultimately successful attraction of ADF, but we experienced some dry years after Montana Specialty Mills, Helena Chemical, and FedEx Ground built their facilities. We stayed the course, exercising options to purchase land, invest in engineering, and using the Park as a key business investment attraction tool. Recently we have seen the expansion of Montana Specialty Mills and Helena Chemical, construction of the Ponderosa Solutions transload facility, and the purchase of lots by Best Oil and Steel, Etc. We expect to close on the sale of a 22 acre lot to Admiral Beverage in November for spring construction of a new Pepsi distribution facility and are in discussions with three more companies looking for sites, including the major industrial facility we have been pursuing since 2021. We are working to secure funds for construction road, water and sewer improvements that would open up four more lots. 5) Housing Production We have been working with partners to create more tools that would help get more housing developments into construction. Our updated Economic Development Strategy sets greater ambitions to overcome challenges that have kept projects from moving forward. Stay tuned. 6) Partnerships Expanding and strengthening existing partnerships with Great Falls Tourism, the Downtown Development Partnership of Great Falls, Defense Alliance, Great Falls Area Chamber of Commerce, City of Great Falls, Cascade County, Montana Infrastructure Coalition, NeighborWorks Great Falls, Great Falls College, and many others is critical to attracting greater business investment in the region. Launching the Lethbridge Economic Development Partnership has increased our business investment attraction profile. 7) Raising the Profile of Great Falls Partnering with the International Economic Development Council to host its first Rural Summit next June is one of the creative ways we are working to increase Great Falls’ profile. We are using significant investments such as Touro, Montana Renewables, and Berkshire Hathaway Energy Montana to target key companies in target industries, and aggressively working with the Montana Department of Commerce’s business attraction team, SelectUSA, and others. 8) Entrepreneurship The best way to attract new business investment is to support our existing local businesses and startup entrepreneurs. We have boosted our services with expansion of our APEX Accelerator and Small Business Development Center, launch of the Great Falls Angel Network, and the start of cohort entrepreneur programs. Now we are working with Great Falls College to bring the Goldman Sachs 10,000 Small Businesses program to the region and launching a new microloan program to provide flexible capital. 9) GFDA Staff Team GFDA’s balance sheet has grown 189% in the last four fiscal years and we expect rapid growth to continue. Along with loan capital growth, we have become more complex, both in the services we deliver to businesses and developers and in the significant challenges our strategy seeks to address such as regional electric and natural gas transmission capacity. We have been investing in our existing staff team and recruiting talented new team members to build our capacity. 10) Capital Campaign Achieving our new strategy requires more than hard, focused work. It also requires significant new resources. We have been targeting foundations and accessing a wider array of government programs. Doing so has increased the leverage of our local GFDA Investor funds, stretching those dollars over ten fold to generate greater economic impact in our trade area. With your continued investment, we will continue to work together as a community and region to build a bigger, stronger, more diversified economy and improve quality of life, grow our workforce, and make our market more competitive. THANK YOU for your investment and help! If you do not receive our board packets and would like to be added to our board distribution list, please email Tracy at [email protected]. If you are ready to discuss investing in our work by joining the team of GFDA Investors, or you would like to increase or renew your existing investment, please contact Jenn Gallmeier at 1-406-781-9499 or [email protected]. All of our deep-dive market assessments can be found on our website Reports section. Here are links to download the following should you be interested: 2024-2026 Economic Development Strategy GFDA Capital Campaign GFDA Board of Directors & Council High Plains Financial Board of Directors Menu of Services & Staff Team Organization Chart FY2024 Audited Financial Statement 2024Q3 Quarter Index Please let me know if you have any questions, concerns, or leads. Thank you again for your encouragement, support, and investment! Brett Brett Doney President & CEO [email protected] 1-406-750-2119 | 
