Lake Placid Dam September Project Summary

Date of Report: September 12, 2025

Recent Activities:

Since the last Report on August 15, 2025 —

1. Bay 2 testing and pre-checking has been conducted by a forensic engineering firm.
2. Bay 1 side seals installation was started.
3. Installation of maintenance bridge handrails, ladders and stairs has continued.
4. Installation of Powerhouse electrical and instrumentation has continued.
5. Stop log delivery and dry fitting has continued.
6. Concrete armoring of the north and south embankments has continued; and
7. Installation of utilities and electrical work at the south embankment is ongoing.

Change Orders:

1. Pending Change Order: Minor electrical modifications in the Powerhouse are required. Proposed Change Order submitted to Black and Veatch/GBRA for review.
2. Pending Change Order: Additional time is being requested by Sundt. Sundt is preparing its submission.

Testing and Schedule:

1. Testing: As mentioned in the August 2025 Project Summary last month, the spill gate in Bay 2 free fell two (2) feet when the contractor initially attempted to operate the gate using the Hydraulic Power Unit (HPU). Sundt engaged a forensics engineering firm (“forensics firm”) to test various components of the gate and the associated parts of the spillway to assess possible damage and necessary remediation. A brief summary of the testing follows:
   • Bolts: All of the bolts tested by the forensics firm were found to be not compromised by the fall.
   • Concrete: The concrete ultrasonic testing conducted by the forensics firm has been completed and the results have been delivered to Black and Veatch for approval. Initial conversations by the forensics firm with Sundt revealed the concrete was not damaged except for one area on the operating pier which showed minor, visible cracking shortly after the gate fell. Sundt has already chipped out the weakened (i.e. damaged) concrete, and is presently waiting for an approved method of repair from the forensics firm and Black and Veatch.
   • On September 20, 2025, the Bay 2 gate's painting system will be tested for any cracking.
   • IT IS EXPECTED THAT ALL TESTING WILL BE COMPLETED, AND ANY ISSUES RESOLVED BY THE END OF SEPTEMBER 2025.
2. SUBSTANTIAL COMPLETION IS NOW EXPECTED TO BE MIDDLE TO LATE NOVEMBER 2025 (which is when impoundment can begin).

NOTE: With approved change orders to date, the Substantial Completion Date for Lake Placid is middle to late November 2025. It is important to remember that the Substantial Completion Date does not take into account the time needed to impound water to Lake Placid nor the final testing of the gates (as the lake has to be full in order to conduct the final testing). We expect impoundment to commence immediately following the Substantial Completion Date.

Upcoming:

In the next several weeks, we expect (1) Eddy current testing; (2) pre-check of the gate in Bay 2; (3) pour back of the side seals (pour concrete behind the seals); (4) testing of the cathodic protection system; (5) grouting of hinges, trunnion, and dogging arm pads; (6) continuation of remaining north and south embankment dam armoring, concrete placements, and rock riprap installation; and (7) commencement of the approved method of remediation to damaged concrete in Bay 2 as determined by the forensics firm and Black and Veatch.

Substantial Completion Date: Middle to Late November 2025

Notwithstanding the revised Substantial Completion Date announced by the contractor, as of this Report approximately sixty-four (64) days remain until we can expect water impoundment to begin at Lake Placid (i.e. mid-November 2025). Waterfront property owners along Lake Placid are reminded and encouraged to:

(1) remove all temporary docks, platforms and/or other structures that may have been placed at or below the normal operating level of Lake Placid in proximity to the riverbed since October 2021, and

(2) abate and remove all woody vegetation from the waterway in front of their property.

Once water is impounded behind Lake Placid Dam, removal of these items will become very challenging, if not impossible.

Note: The normal operating level of Lake Placid is defined as 497.5 feet above mean sea level at Lake Placid Dam, which is the historical operating water level.

Recent Photographs of Construction Activity/Progress —