Lake Placid Dam December Project Summary

Date of Report: December 12, 2025

Recent Activities:

Since the last Report on November 15, 2025 —

1. Stop logs in Bay 1 were installed.
2. The permanent transformer was set in place.
3. Three of the four total gate panels were installed in Bay 1.
4. Installation of hydraulic tubing to Bay 1 cylinders has continued.
5. One of the two side seals in Bay 1 was completed.
6. Work on the north embankment roadway continued.
7. Work on the maintenance bridge handrail, ladders and stairs continued.
8. Electrical and instrumentation work in the Powerhouse continued.
9. Concrete armoring and underground utility work on the north and south embankments continued.

Change Orders:

1. Pending Change Order: Sundt, Black and Veatch and GBRA are continuing their conversations related to the additional time for this project including liquidated damages and additional possible work items needed at the Powerhouse.

Testing and Schedule/Update:

Testing/Repair: During the installation of the four (4) gate panels in Bay 1, an enlarged weld was discovered as the last of the four gate panels was being set in place. This enlarged weld did not allow for a tight fit of the fourth panel to the other two adjacent gate panels. Steel Fab provided a recommended solution that was then reviewed by Sundt, Black and Veatch and GBRA. The area in question was approximately 4” x 11”. The recommended solution by Steel Fab was to grind the weld down and then re-coat the surface of the panel. This solution was ultimately approved and Sundt then proceeded to install the fourth and final gate panel.

Schedule: At the December 11, 2025, Construction meeting, Sundt reported the best-case scenario is that Substantial Completion will now be January 17, 2026.

NOTE: With approved change orders to date, the Substantial Completion Date for Lake Placid is January 17, 2026. It is important to remember that the Substantial Completion Date does not take into account the time needed to impound water on Lake Placid or the final testing of the gates (as the lake must 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) the hydraulic cylinders in Bay 1 will be set in place and connected; (2) to install and weld stainless steel side plates in Bay 1; (3) to flush and pressure test the hydraulics in Bay 1; (4) completion of the maintenance bridge; (5) to connect permanent power; and (6) continuation of remaining north and south embankment dam armoring, concrete placements, and rock riprap installation.

Substantial Completion Date: January 17, 2026

Notwithstanding the revised Substantial Completion Date announced by the contractor, as of this Report approximately thirty-six (36) days remain until we can expect water impoundment to begin at Lake Placid (i.e. January 17, 2026). 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 —