Presentation given by Makivik Corporation FIESS 2011 Montreal, Quebec October 19, 2011

The Nunavik Region  North of 55th parallel of the Province of Quebec or 505,000 square Km (1/3 of Quebec)  No road links to the region  Population of around 11,000 (90% Inuit)  57 % of the population under 25 years old  14 villages of 160 to 2,500 inhabitants  Inuit of Nunavik pay income and consumption taxes as any other person in the Province.

Social Economy in Nunavik GDP $ 291 Million (2003) GDP $ 291 Million (2003) Sales Volume $ 243 Million (SE organizations) Sales Volume $ 243 Million (SE organizations) 84% created by social economy organizations 84% created by social economy organizations compared to Quebec 6%. compared to Quebec 6%. Full-time jobs 3,189 (2005/06) Full-time jobs 3,189 (2005/06) 53% public or parapublic 53% public or parapublic 47% private or social economy (at least 17% 47% private or social economy (at least 17% social economy Org’s). social economy Org’s). Survey not complete. Certain companies have dual roles. Survey not complete. Certain companies have dual roles.

Makivik Corporation The History of Makivik Corporation: The History of Makivik Corporation: Created under the JBNQA 1975 Created under the JBNQA 1975 Represents the Inuit Beneficiaies of the JBNQA Represents the Inuit Beneficiaies of the JBNQA To develop the regions economy through means of investments and joint ventures To develop the regions economy through means of investments and joint ventures

Makivik’s Corporate Objectives To receive, administer, use and invest the compensation money intended for the Inuit, as provided for in the James Bay and Northern Quebec Agreement (1975) and the 2002 Partnership agreement signed with Quebec. To receive, administer, use and invest the compensation money intended for the Inuit, as provided for in the James Bay and Northern Quebec Agreement (1975) and the 2002 Partnership agreement signed with Quebec. NILCA 2007 NILCA 2007 To relieve poverty and to promote the welfare, advancement, and education of the Inuit. To relieve poverty and to promote the welfare, advancement, and education of the Inuit. To foster, promote, protect and assist in preserving the Inuit way of life, values and traditions. To foster, promote, protect and assist in preserving the Inuit way of life, values and traditions.

Makivik’s Corporate Objectives To exercise the functions vested in it by other acts or the agreement. To exercise the functions vested in it by other acts or the agreement. To initiate, expand and develop opportunities for the Inuit to participate in the economic development of their society. To initiate, expand and develop opportunities for the Inuit to participate in the economic development of their society. To develop and improve the Inuit communities and to improve their means of actions. To develop and improve the Inuit communities and to improve their means of actions. To assist in the creation, financing or developing of businesses, resources, properties and industries. To assist in the creation, financing or developing of businesses, resources, properties and industries.

How does Makivik meet its’ Economic Development Objectives Invest in stock and money markets. Invest in stock and money markets. Invest in wholly-owned subsidiaries and Joint-Ventures. Invest in wholly-owned subsidiaries and Joint-Ventures. Foster and Fund Socio-economic projects in communities. Foster and Fund Socio-economic projects in communities. Create employment through its subsidiary companies and joint- ventures. Create employment through its subsidiary companies and joint- ventures.

How does Makivik meet its’ Economic Development Objectives Market and promote Nunavik products through such companies as Nunavik Creations and Nunavik Furs. Market and promote Nunavik products through such companies as Nunavik Creations and Nunavik Furs. Build local infrastructures such as recreation centres, FM stations, marine infrastructures and housing. Build local infrastructures such as recreation centres, FM stations, marine infrastructures and housing. Ensure beneficiaries get their tax refunds through the Income tax department. Ensure beneficiaries get their tax refunds through the Income tax department.

FUNDING Provide donations to various community programs (cumulative donations of $ 95 Million in 2009). Provide donations to various community programs (cumulative donations of $ 95 Million in 2009). Sanurritik Contributions - $ 55 Million since 2002 Sanurritik Contributions - $ 55 Million since 2002 Excess of Revenue/Expenditures - $ 180 Million Excess of Revenue/Expenditures - $ 180 Million Beneficiary Equity - $ 305 Million plus Beneficiary Equity - $ 305 Million plus Always seeking outside funding – Since this is an heritage fund. Always seeking outside funding – Since this is an heritage fund.

Programs Examples Programs Examples Nunavik Annual Artistic Workshops. Nunavik Annual Artistic Workshops. Nunavik Arts Secretariat Nunavik Arts Secretariat Heating oil subsidy program. Heating oil subsidy program. Inuit Clothing and Fur Fund. Inuit Clothing and Fur Fund. Air Inuit beneficiary rates. Air Inuit beneficiary rates.

Wholly Owned Subsidiaries First Air Air Inuit Nunavik Creations/Furs Nunavik Biosciences Nunacell Inc.

Wholly Owned Subsidiaries Construction Division Nunavik Geomatics

Joint Ventures Pan Arctic Logistics Unaaq Fisheries Nunavut Eastern Arctic Shipping

Economic Development Issues High transportation costs, High cost of living & need of infrastructures. High transportation costs, High cost of living & need of infrastructures. Amplified by taxes paid on cargo and the recent increase in fuel prices. Amplified by taxes paid on cargo and the recent increase in fuel prices. Young population (57% Under 25 years). Young population (57% Under 25 years). Need for more training : Capacity building Need for more training : Capacity building Need for the youth to finish post- secondary schooling. Need for the youth to finish post- secondary schooling. Traditional Economy : Becoming expensive to practice. Traditional Economy : Becoming expensive to practice.

Development Sectors Energy and Hydro-electricity Energy and Hydro-electricity Mining Mining Wildlife sectors/Traditional Economy Wildlife sectors/Traditional Economy Tourism Tourism Bio-food sector Bio-food sector

Conclusion Makivik Corporation is well positioned to ensure the economic growth of Nunavik. Makivik Corporation is well positioned to ensure the economic growth of Nunavik. As you can see it has expertise in many fields of activity. As you can see it has expertise in many fields of activity. Always looking for new ventures with potential partners. Always looking for new ventures with potential partners. Ready to face the future despite the challenges it faces. Ready to face the future despite the challenges it faces. Land Based Economy very important (most smaller villages). Land Based Economy very important (most smaller villages). Working on Plan Nord with Government of Quebec. Working on Plan Nord with Government of Quebec.

Merci Thank You Nakurmik / Nf3ü4