Board of Directors for SCFN's Economic Development Corporation

Overview Sucker Creek First Nation: Business Development Corporation Sucker Creek First Nation: Business Development Corp. (SCFN-BDC) is the economic development and investment arm of Sucker Creek First Nation (SCFN), a Cree Treaty 8 Nation located on the southwestern shore of Lesser Slave Lake near Enilda, Alberta. SCFN-BDC is wholly owned by SCFN and operates at arm’s length from Chief and Council to generate sustainable, long-term economic prosperity for Members. SCFN-BDC manages and develops a diversified portfolio across key sectors, including: - Energy and natural resources - Infrastructure and utilities - Real estate and commercial development - Agriculture and environmental services - Retail and community-based enterprises The organization is focused on: - Building own-source revenue streams - Create meaningful employment and employment opportunities for Nation members - Advancing economic sovereignty and self-determination - Establishing strategic partnerships with industry leaders - Delivering intergenerational wealth creation for SCFN Members Responsibilities 1. Governance and Fiduciary Oversight - Fiduciary duty - Uphold duties of care, loyalty, and good faith in the best interests of SCFN:A-BDC and its shareholder, Sucker Creek First Nation. - FMB-aligned governance - Ensure adherence to the Company’s governance framework, including policies modelled on FMB, FAL and FMS Standards covering financial administration, internal controls, procurement, capital project oversight, information management, and human resources. - Risk and controls - Maintain oversight of enterprise risk management, internal controls, and the audit cycle, consistent with FMB-recognized frameworks. - Independence - Maintain the independence required of directors under the Company’s by-laws and governance policies, including disclosure and management of conflicts of interest. 2. Strategic Leadership - Long-term planning - Approve and periodically review the Company’s long-term strategic plan, business objectives, and annual operating plan. - Capital allocation - Provide guidance on capital allocation across the portfolio, ensuring decisions are evaluated on commercial merit and community benefit. - Major transactions - Evaluate and approve major investments, joint ventures, acquisitions, divestitures, and financings consistent with delegated authority limits. - Alignment - Ensure alignment between commercial objectives and SCFN community priorities, including employment, training, and revenue distribution. 3. Financial Stewardship - Budgets and statements - Review and approve annual budgets, multi-year financial plans, capital plans, and audited annual financial statements. - Financial monitoring - Monitor financial performance, liquidity, solvency, debt service, and return on investment against approved benchmarks. - Lender relations - Oversee compliance with lender covenants and reporting requirements (FNFA, FNBC, BDC, EDC, and commercial banks), and prudent oversight of debt structures, financing arrangements, and partnership economics. - Audit oversight - Recommend the appointment of the external auditor; review the annual audit plan and management letter; ensure timely remediation of any findings. 4. Investment and Project Oversight - Investment discipline - Assess business cases, feasibility studies, and investment proposals against documented investment criteria. - Sector insight - Provide insight on infrastructure, energy, agriculture, real estate, and industrial development opportunities relevant to the SCFN:A-BDC portfolio. - Execution risk - Oversee execution risks related to large-scale capital projects, including procurement, contracting, and major project delivery. 5. CEO and Management Oversight - Executive selection - Recruit, appoint, evaluate, and - when necessary - replace the Chief Executive Officer. - Performance and compensation - Set annual performance objectives for the CEO, conduct a formal annual…

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