Dr. Dorward-King has served since 2020, so her full tenure overlaps the three-year period in which NOVAGOLD's stock returned +48.3% while the company's own peer group returned a median of +210.1% — a gap of nearly 162 percentage points, far exceeding the 50-point threshold that triggers an against vote; the five-year record does not rescue the outcome because NG's five-year return of -1.5% still trails the peer median by roughly 127 percentage points.

Dr. Kaplan has been Chairman since 2011, so his lengthy tenure fully encompasses the three-year underperformance period in which NOVAGOLD lagged its peer group by about 162 percentage points; the five-year record also falls well short, leaving no long-term mitigant available under the policy.

Mr. Kyle joined the board in 2023, so his tenure meaningfully overlaps the three-year underperformance window; NG lagged the peer group median by roughly 162 percentage points over three years, which far exceeds the 50-point trigger threshold, and the five-year record provides no mitigant given NG's negative five-year return versus strongly positive peer returns.

As President, CEO, and director since 2012, Mr. Lang bears direct accountability for the company's strategic direction and his tenure fully overlaps the underperformance period; the policy explicitly states that executive directors are subject to the same TSR trigger as all other directors, and this against vote is independent of the separate say-on-pay evaluation.

Mr. Madhavpeddi has served since 2007, giving him one of the longest tenures on the board, fully encompassing the three-year underperformance period; with a peer gap of roughly 162 percentage points over three years and a negative five-year absolute return, neither the three-year nor the five-year check passes the policy thresholds.

Mr. McArthur joined the board in 2022, so his tenure covers most of the three-year measurement period during which NG trailed its peers by roughly 162 percentage points; the five-year record also fails to provide a mitigant because NG's negative five-year return still lags the peer group by more than 126 percentage points.

Mr. Muñiz joined in 2023 and his tenure meaningfully overlaps the three-year underperformance period; the roughly 162-percentage-point gap versus peers far exceeds the 50-point trigger, and NG's negative five-year absolute return means the five-year mitigant also fails to apply.

Mr. Schutt has served since 2019, so his tenure fully overlaps the three-year underperformance period and the five-year measurement window; NG's five-year return of -1.5% versus the peer median of +125.4% is a gap of about 127 percentage points, which exceeds the 20-point threshold applicable to negative absolute five-year returns, so no mitigant applies.

Ms. Whittaker joined in 2023 and her tenure meaningfully overlaps the three-year underperformance window; NG trailed its peer group by roughly 162 percentage points over three years, far exceeding the 50-point trigger, and the negative five-year absolute return means the five-year mitigant check also fails.