ANNUAL REPORT 2024 | 2025

Together, we are on track toward our shared goal: 3,000 new housing units of all types by 2030.“ “ John Apt, Chairperson

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 1 About the Nunavut Housing Corporation (NHC) . . . . . . . . . . . . . . . . . . . . . . . . .2 Mission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 Vision . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 Our Values . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 Core Business . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Organizational Chart . . . . . . . . . . . . . . . . . . . .3 Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . .5 Message from the Chair . . . . . . . . . . . . . . . . . . . .7 Message from the President & CEO . . . . . . . . .9 Governance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 Minister Responsible for NHC . . . . . . . . . . .10 NHC Board of Directors . . . . . . . . . . . . . . . . .10 NHC Offices . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Local Housing Organizations . . . . . . . . . . . .15 Inuit Employment . . . . . . . . . . . . . . . . . . . . . . . . .17 Information Technology . . . . . . . . . . . . . . . . . . .19 Aligning Strategies for Success . . . . . . . . . . . .21 NHC Business Plan . . . . . . . . . . . . . . . . . . . . .21 Nunavut 3000 . . . . . . . . . . . . . . . . . . . . . . . . .22 TABLE OF CONTENTS 2025 Performance Audit by the Office of the Auditor General . . . . . . . . . . . .24 Designing & Building Housing . . . . . . . . . . . . .25 Land Planning & Management . . . . . . . . . . . . .31 Community Housing . . . . . . . . . . . . . . . . . . . . . .33 Strategic Partnerships & Engagement . . . . . .37 New & Renewed Programs . . . . . . . . . . . . . . . .39 Nunavut Affordable Housing Supply Incentive (NAHSI) . . . . . . . . . . . . . . .39 Nunavut Homeownership Assistance Program (NHAP) . . . . . . . . . . . . . . . . . . . . . . .40 Nunavut Down Payment Assistance Program (NDAP) . . . . . . . . . . . . . . . . . . . . . . .40 Elders Housing Program (EHP) . . . . . . . . . .40 Home Renovation Program (HRP) . . . . . . .42 Emergency Repair Program (ERP) . . . . . . .42 Workforce Development . . . . . . . . . . . . . . . . . .43 Financial Management & Analysis . . . . . . . . .45 Consolidated Financial Statements . . . . . . . .63

ABOUT THE NUNAVUT HOUSING CORPORATION (NHC) Since 2000, the NHC has been at the heart of housing in Nunavut—creating, coordinating, and delivering programs that ensure fair access to safe, affordable homes for individuals and families across the territory. As a public agency of the Government of Nunavut, NHC works to meet the unique housing needs of Nunavummiut, one home at a time.

MISSION To provide opportunities for all residents of Nunavut to have homes that support a healthy, secure, independent and dignified lifestyle through working with our communities to allow them to assume the role of providing housing to Nunavummiut. VISION To ensure families and individuals in Nunavut have access to a range of affordable housing options.

OUR VALUES The Nunavut Housing Corporation believes in and strives for: • Placing “human capital” (our employees, Local Housing Organization partners, tenants and clients) FIRST when targeting housing solutions for Nunavut residents; • Making a positive impact on the quality and affordability of housing; • Ensuring housing services and support are provided in an equitable manner; • Use of Inuit Qaujimajatuqangit (IQ) in Corporation decision-making; • Recognizing the contribution the Corporation and Local Housing Organization (LHO) staff make to housing in Nunavut and providing them with the proper work environment and tools to enable them to maximize that contribution; 2 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 Working to meet the unique housing needs of Nunavummiut, one home at a time.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 3 • High quality of advice, assistance and support to LHOs, other client organizations and agencies, and individuals; • High quality of property management services for Nunavut Public and Government of Nunavut (GN) Staff Housing; and • Building constructive relationships with other governments, agencies, departments, and both community and Indigenous organizations.

CORE BUSINESS NHC’s core business includes: • Advisory and Administrative Services, including governance support, policy development, strategic planning, and capacity-building initiatives such as train - ing for the NHC Board of Directors and Local Housing Organizations in areas including administration, finance, program delivery, and housing maintenance. • Public Housing, including the acquisition, maintenance, repair, and construction of public housing units across Nunavut, in partnership with NCC Development (NCCD), to ensure safe, affordable, and sustainable housing for Nunavummiut. • Homeownership Programs, offering financing options, technical assistance, and support to help Nunavummiut transition from public housing to homeownership or private market rentals, aligned with broader territorial housing goals. • Staff Housing, providing safe and afford- able housing solutions for govern ment employees, with a focus on long- term sustainability and exploring opportunities for staff to transition to homeownership or to private rental markets.

MINISTER RESPONSIBLE FOR NUNAVUT HOUSING CORPORATION BOARD OF DIRECTORS PRESIDENT AND CEO Vice President Finance and Corporate Services Corporate Comptroller Policy and Strategic Planning Information Technology Human Resources & Organizational Development Vice President Operations District Operations in Qikiqtaaluk, Kivalliq, Kitikmeot Housing Programs Local Housing Organizations Vice President Infrastructure Procurement Project Management & Capital Development Maintenance GN Staff Housing ORGANIZATIONAL CHART

4 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 …we are making meaningful strides that will change the housing landscape for future generations. “ “

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 5 LETTER OF TRANSMITTAL The Honourable Lew Philip Deputy Commissioner, Government of Nunavut Dear Deputy Commissioner, I have the honour of presenting the Annual Report for the Nunavut Housing Corporation, covering the period from April 1, 2024, to March 31, 2025. Respectfully submitted, The Honourable Cecile Nelvana Lyall Minister Responsible for the Nunavut Housing Corporation

We remain committed to advancing solutions that reflect the unique needs of our territory and to achieving even greater milestones in the years ahead. “ “ Board of Directors

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 7 Innovative approaches, strategic partnerships, and steadfast commitment are yielding tangible results. MESSAGE FROM THE CHAIR It is my pleasure to present the Nunavut Housing Corporation’s 2024–25 Annual Report, which reflects a year of determination, progress and partnership in addressing one of Nunavut’s most pressing challenges—housing. This report details the work we have done to expand Nunavut’s housing continuum, strengthen local capacity, and improve quality of life in our communities.

Igluliuqatigiingniq — Building Houses Together continues to transform how housing is developed in our territory. Through the Nunavut 3000 initiative, we are delivering high-quality housing, increasing the supply of new housing units at a significant rate, at better value, and in greater alignment with community needs. In 2024–25, we launched new programs and renewed existing ones to improve homeownership options, expand rental availability, and enhance housing supports for Nunavummiut at every stage of life.

These efforts are underpinned by collaboration with Inuit organizations, municipalities, the private and not for profit sectors, and other levels of government. Together, we are on track toward our shared goal: 3,000 new housing units by 2030. While much remains to be done, the progress outlined in this report demonstrates that innovative approaches, strategic partnerships, and steadfast commitment are yielding tangible results. The Board of Directors thanks Nunavummiut for their trust and continued support.

We remain committed to advancing solutions that reflect the unique needs of our territory and to achieving even greater milestones in the years ahead. Sincerely, John Apt Chairperson, NHC Board of Directors Annie Aningmiuq, John Hussey, Allan Rumbolt, Derek Elias, Peter Tapatai, Emma Pauloosie Board of Directors

Nunavut 3000 is producing outcomes we can be proud of. Let’s keep going – together.“ “ Eiryn Devereaux, President & CEO of Nunavut Housing Corporation

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 9 Momentum, Milestones and a Clear Path Forward I’m proud to share our progress in this year’s Annual Report and reflect on the real, measurable strides we’ve made together to realize the vision of Nunavut 3000, a plan to deliver 3,000 new homes across the territory by 2030. We’re now just three years in, and momentum is building. With 855 residential units and 134 supported housing units completed or underway, roughly one third of Nunavut 3000’s target is in sight. This progress signals more than just numbers— it marks a shift in what’s possible.

This is a pivotal moment for the Nunavut Housing Corporation. With six building seasons remaining, our path is clearer, our strategy sharper, and our purpose stronger. In 2024 alone, 314 new housing starts were recorded by the Office of the Chief Building Official—bringing us closer to our target of 325–350 annual average starts needed to stay on track. But Nunavut 3000 is about more than just construction. It’s about transforming how housing is delivered in our territory.

We’re: • Strengthening capacity through Inuit-led contracts and partnerships to reduce costs and increase supply. • Investing in trades training and apprenticeship opportunities for Inuit. • Enhancing local housing services and ensuring fair, needs-based allocation of public housing. • Launching digital tools to improve service for tenants and staff alike. • Collaborating with communities to improve land readiness and infrastructure planning. This transformation is happening during a time of both opportunity and constraint, but we remain committed to delivering real change.

By the time Nunavut 3000 is complete, we won’t just have built more homes—we’ll have strengthened communities, expanded economic opportunity, and created new path ways for Nunavummiut to move from public housing to renting or homeowner ship. These are outcomes we can all be proud of. Let’s keep going—together. Sincerely, Eiryn Devereaux President & CEO, Nunavut Housing Corporation MESSAGE FROM THE PRESIDENT & CEO

GOVERNANCE MINISTER RESPONSIBLE FOR NHC The Minister Responsible for the Nunavut Housing Corporation (NHC) is designated by the current government and is a member of the government’s Cabinet. NHC BOARD OF DIRECTORS As a public agency, NHC is governed by a Board of Directors that oversees NHC’s corporate performance, risk management and strategic planning functions in collaboration with NHC’s executive team. At any given time, the NHC Board is composed of five to seven members with diverse backgrounds, education and experience.

The directors are recommended by the Minister Responsible and appointed to three-year terms by the Commissioner in Executive Council, who also designates a Chairperson and Vice Chairperson from the board membership. The Board meets in person at least twice a year and holds virtual meetings quarterly to approve variance reports and financial statements. A separate virtual meeting is held to approve the Annual Report and Financial Statements. Additional virtual meetings are scheduled as needed.

Board operations and meetings are supported by NHC staff. 10 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 In 2024-25, NHC received 260 calls and inquiries, related to Public Housing, Home - owner ship and Staff Housing.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 11 The NHC Board is composed of five to seven members with diverse backgrounds, education and experience. JOHN APT, CHAIRPERSON Mr. Apt has been an active member of the Board of Directors since 2014 and is currently serving in the role of Chairperson. He has been a key support for NHC offering oversight as Chair for the Audit Committee as well as providing direction to NHC’s senior management. Mr. Apt brings many years of experience from his dedication and long service to the Office of the Auditor General of Canada. As Audit Principal, Mr.

Apt was responsible for the financial audits of the Government of Nunavut (GN) and its Crown corporations prior to his retirement in 2012. PETER TAPATAI, VICE-CHAIR Mr. Peter Tapatai is the founder and president of Peter’s Expediting Limited, a 100% Inuit- owned-and-operated business based in Baker Lake. With over 20 years in operation, his company has supported numerous regional projects, including the development of Agnico Eagle’s Meadowbank Mine from exploration to production.

He has worked closely on numerous regional projects and has been a powerful advocate for the sustainable development of renewable resources in Nunavut and for investment in infrastructure, housing and training. He knows the importance of housing in the development of a sustainable future in Nunavut. Peter has received a lifetime honorary membership from the Northwest Territories and Nunavut Chamber of Mines, been named Kivalliq Business Person of the Year and has appeared before the Senate to present on the impact of mining in Nunavut.

He was awarded a Canada 150 Medal in 2017 and is the 2020 recipient of the Order of Nunavut. 2024-25 BOARD MEMBERSHIP

12 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 JOHN HUSSEY, DIRECTOR Formerly from Nova Scotia, Mr. Hussey has been a Nunavummiut since May 2001. He has worked for the City of Iqaluit, the Hamlets of Igloolik, Pangnirtung, Kinngait, Arctic Bay, and most recently the Hamlet of Arviat. He has a wealth of experience in municipal management and financial practices and has been involved on many boards and associations, including serving in executive capacities. He has served on NHC’s Board of Directors since 2019. Prior to this he served for two terms on the Iqaluit Housing Authority’s board of directors.

ALLAN RUMBOLT, DIRECTOR Appointed to the Board in November 2022, Mr. Rumbolt brings numerous years of hands-on experience working in housing at the community level. He has been in the North since 1987, where he spent his first eight years with the North West Company in several communities. From 1995 to 2005, Mr. Rumbolt held the position as Housing Manager in the community of Sanikiluaq where he also served on the Council for two years. In 2008, he went on to be elected as MLA for Sanikiluaq, where he served three terms. During his tenure as MLA, Mr.

Rumbolt chaired several committees and also served as Deputy Speaker and Speaker of the Legislative Assembly. He currently resides in Sanikiluaq. ANNIE ANINGMIUQ, DIRECTOR Ms. Aningmiuq was appointed to the Board of Directors in March 2024 with a wealth of education and experience that highlights her exceptional leadership and determination. Currently residing in Iqaluit, Ms. Aningmiuq holds the position of President for Nunasi Corporation, serves on the board of directors for Nunavut Sivuniksavut, Kakivak Association and Polar Vision Ltd, and has recently completed the ICD Rotman Directors Education Program.

Before assuming her current role, she held the position of Manager of Policy and Communications for the National Association of Friendship Centers and served as Policy and Regional Affairs Advisor for the Federal Minister at Crown- Indigenous Relations and Northern Affairs Canada (CIRNAC). She brings extensive experience from previous positions with Canada World Youth, Community Foundations of Canada, Inuit Tapiriit Kanatami, Nunavut Tunngavik Incorporated, as well as from working with the Member of Parliament for Nunavut.

In addition to her professional endeavors, she is involved in freelance Inuktitut consulting. Furthermore, Ms. Aningmiuq has been featured in numerous publica - tions, has showcased her talents as a throat singer on an international platform, and operates a successful jewelry design business.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 13 DEREK ELIAS, DIRECTOR Appointed to the Board in March 2024, Mr. Elias brings extensive leadership, project manage ment and housing experience to his role. He currently works as a Business Development Officer at the Kitikmeot Inuit Association (KIA) and has over 17 years of experience as a Technical Officer for NHC in the Kitikmeot District Office. Mr.

Elias is the former mayor and municipal councillor for Cambridge Bay and has worked previously as the Vice President of the Nunavut Association of Municipalities, with additional leadership experience as Chair of the board of directors for the Cambridge Bay Housing Association and with Qaggiavuut. Mr. Elias currently lives in Cambridge Bay and is a member of both the Cambridge Bay Fire/Rescue Department as well as the Civil Air Search and Rescue Association for Nunavut. EMMA PAULOOSIE, DIRECTOR Emma is currently residing in Gjoa Haven, brings 27 years of educational experience to the NHC Board of Directors.

With a Bachelor of Education from the University of Regina, she has worked closely with elders in the Nattilik region, gaining valuable administrative skills. Ms. Pauloosie is dedicated to Inuit Societal Values, which guide her decision-making and contributions to the board. As a Nunavut Inuk and principal at Quqshuun Elementary School in Gjoa Haven, Ms. Pauloosie aims to inspire others, especially Inuit women, to engage in community leadership. BOARD ACTIVITIES: MEETINGS OF THE BOARD The fiscal year 2024–25 marked a period of strengthened governance, strategic action and meaningful dialogue for the Board.

Over the course of the year, the Board convened nine times, including two in- person meetings held in Pond Inlet and Baker Lake reflecting a deliberate effort to connect with communities and ground its decisions in lived regional realities. In addition, seven virtual meetings were held to approve operational and financial matters. This active engagement translated into the passage of 62 motions, underscoring the Board’s dynamic role in shaping policy and operational direction. FinancialOperationalAdministrative Administrative 34 Financial 16 Operational 12 BOARD ACTIVITIES

14 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 FINANCIAL APPROVALS • Approved the PSAS Budget for the 2024–25 fiscal year. • Approved 2023–24 Year-End Capital and Operations & Maintenance (O&

M) Variance Report. • Approved the 2024–25 Capital Budget and O&M Variance Report. • Approved the write-off of deceased clients’ arrears for 265 accounts. • Approved the write-off of statute-barred arrears for 1,208 accounts. • Approved the write-off and write-down of tangible capital assets. • Approved the 2023–24 Audited Financial Statements and Annual Report. • Approved in principle the development of a Master Credit Agreement with the Canada Infrastructure Bank to support low-cost loans for land development. • Approved bronze-level sponsorship for the 2025 Skills Canada Nunavut Territorial Competition. • Approved the 2025 Nunavut Housing Forum program and budget. • Approved the 2024 Semi-Annual Variance Report. • Approved the purchase of three properties in Cambridge Bay, Coral Harbour & Igloolik. • Approved the 2024–25 Q3 Capital and Operating Variance Report.

OPERATIONAL APPROVALS • Approved the NHC Collections Policy (April 2024). • Approved the Homeownership Support Program Guidelines. • Approved the Nunavut Affordable Housing Supply Incentive (NAHSI) Program Guidelines. • Approved, in principle, the Supported Housing Policy. • Approved the Partnership Agreement with Kitikmeot Inuit Association to deliver financial literacy and homeownership training for the Pathways to Homeownership Program. • Approved consent to proceed with write- off stages for deceased and statute-barred arrears. • Approved the 2025 Housing Build Plan. • Approved, in principle, the Construction Workforce Development Plan to enhance training and employment in the housing sector. • Approved the establishment of an MOU with Yukon, NWT, and Nunavut to collaborate on shared housing priorities across the territories. • Approved the final version of the CMHC Three-Year Action Plan (2025–2028).

SIGNIFICANT ADMINISTRATIVE ACTIONS • Approved the designation of Peter Tapatai as Vice-Chair, to be recommended to the Minister. • Acknowledged and accepted the OAG’s Management Letter regarding the 2023–24 audit. BOARD ACTIONS & APPROVALS:

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 15 NHC OFFICES NHC is led by the President & CEO, who is responsible for the Corporation’s strategic direction and daily operations, supported by an executive team that includes three Vice Presidents—Finance and Corporate Services, Infrastructure, and Operations— as well as the Executive Director of Programs and the Director of Policy, Strategic Planning, and Communications.

Corporate leadership and decision-making are guided by the Corporate Executive Committee (CEC), which brings together these senior leaders to ensure coordinated planning, accountability, and alignment across all areas of the organization. NHC employs approximately 128 professional and administrative staff in its offices. This includes the Directorate in Iqaluit, the Headquarters in Arviat and District Offices in Arviat, Cambridge Bay and Kinngait. The Directorate has overall accountability for the performance of the organization and leads operations across Nunavut.

It develops long-range strategies, policies, and operational guidelines on corporate matters for the Board of Directors, the Minister responsible for NHC and Cabinet. It ensures consistency in policy application and program delivery, as well as managing NHC’s funding agreements. It also holds most of NHC’s central internal services, including policy, planning, communications, finance, human resources, procurement, information technology, real property and occupational health and safety.

The Headquarters provides direction and guidance to the District Offices in support of delivering and measuring housing programs, contracting, project management, technical design and maintenance. The District Offices deliver various housing programs and services to Nunavummiut. This includes managing agreements with Local Housing Organizations (LHOs) to allocate and maintain public housing inventory. The District Offices also set regional priorities and monitor the construction program in their regions.

LOCAL HOUSING ORGANIZATIONS NHC relies on its partnerships with LHOs to deliver public and staff housing services and maintain housing inventory in each of the territory’s 25 communities. LHOs also provide valuable insight into community priorities, housing needs, and operational challenges.

LHO FACTS • LHOs are distinct, independent organizations with their own Boards of Directors, Bylaws, accounting systems, and local staff. • Each LHO signs a Management Agreement with NHC committing to meet the business requirements for allocating public housing to Nunavummiut and maintaining public housing inventory in their municipalities. • Nineteen LHOs are Housing Associations formed under The Societies Act with elected Board members.

Six LHOs are Housing Authorities formed under The Nunavut Housing Corporation Act and have Boards appointed by the Minister responsible for NHC. • Sixteen of the LHOs are also unionized and have distinct Collective Agreements. LHO responsibilities include receiving and assessing public housing applications, maintaining public housing waitlists, allocating public housing units using the point-rating system, collecting rent from tenants and maintaining and modernizing units in accordance with the NHC’s policies and procedures.

NHC is accountable for regularly monitoring and assessing the operations of LHOs to ensure that they deliver the NHC’s public housing program effectively and in accordance with established policies and procedures provided by the NHC. NHC has undertaken a comprehensive review of the LHO model for providing housing services and maintaining housing inventory to determine ways for housing delivery to be improved. This review included consultation sessions with key stakeholders in each community and with housing sector partners to find opportunities for improvement.

The information gathered through this process is being used to inform a future service delivery model for public and staff housing. The recently released OAG report highlights the need for NHC to strengthen monitoring and oversight of LHOs to ensure that Nunavummiut receive equitable access to suitable public housing and that housing inventory is maintained to an adequate standard. 16 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 LHOs are distinct, independent organizations with their own Boards of Directors, Bylaws, chart of accounts, and local staff.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 17 Our partner Local Housing Authorities have an Inuit Employment rate of 80%. To meet these obligations, staffing strategies include encouraging adherence to the Priority Hiring Policy, implementing restricted competitions, making direct appointments, assigning acting and transfer roles, and utilizing casual employment to strengthen Inuit workforce participation. As of March 31st, 2025, NHC’s overall capacity stands at 80% with 103 of 128 positions filled.

The total number of Inuit employees has increased from 42 in 2023/24 to 43 in 2024/25 and NHC’s Inuit Employment rate is 42%. Total number of Inuit employees stands at 56 including an additional 13 Inuit staff employed on a casual basis. Our partner Local Housing Authorities have an Inuit Employment rate of 80% - the combined Inuit employment rate with NHC and LHOs stands at 70%. Recognizing that our people are our greatest asset—and that it is their talent and dedication that drives our organization forward—we are committed to fostering an inclusive and empowering environment.

Our initiatives in succession planning and summer student employment-equity underscore this commitment, striving to nurture leadership, create meaningful opportunities, and build a workforce that mirrors and serves our community. To support succession planning, NHC is providing Inuit staff with exposure to management positions through on-the-job training and acting assignments. In 2024/25 NHC advanced 8 direct appointments, 5 internships, 2 internal transfer assignments, 10 Acting assignments and 4 training programs for Inuit employees.

Supporting training and development opportunities is an investment in strengthening NHC’s leadership capacity to serve Nunavummiut. The Summer Student Employment Equity Program provides opportunities for Nunavummiut students to gain meaningful work experience and training in the public service. When hiring summer students, priority is given to Nunavut Inuit. INUIT EMPLOYMENT NHC re-affirms its commitment to fulfilling its role under the Nunavut

Article 23 Agreement, aimed at promoting and increasing the employment of Inuit within our organization.

HOUSING INVENTORY NHC works with its network of LHOs to manage 5,934 public housing units and 1,721 staff housing units across 25 communities dispersed over three regions covering nearly 2 million square kilometres. As of March 31st, 2025, NHC’s portfolio of public housing units was valued at approximately $828.5 million. Most of the funding for operational and capital expenses of the public housing program comes from the Government of Nunavut and the Government of Canada.

NHC’s operating expenditures for managing and maintaining public housing inventory from 2022–23 to 2024–25 averaged approximately $248 million annually. NHC’s capital expenditures for its public housing units for the same period averaged $82 million each year. 18 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 NHC’s portfolio of public housing units was valued at approximately $828.5 million.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 19 NHC’s investments in the technology that will enable its growth will support stronger local housing service delivery. Over the past year, NHC has taken steps to modernize its Information Technology (IT) environment in support of both day-to-day operations and the transformative goals of Nunavut 3000. As NHC expands its programs and housing delivery across all 25 communities, a reliable, secure, and scalable IT infrastructure is essential.

NHC’s investments in the technology that will enable its growth will support stronger local housing service delivery, better tools for staff, and improved access to housing services for Nunavummiut.

STRATEGIC PLANNING AND INVESTMENT In 2024, NHC launched a multi-phase IT strategy that includes: • Upgrading core systems across LHOs to improve service integration and data management. • Migrating the organization’s network infrastructure to Microsoft Azure to enhance cybersecurity, cloud-based collaboration, and system resilience. • Deploying Starlink satellite internet and structured cabling to improve connectivity in remote locations. • Expanding business analytics capabilities through Power BI integration. • Rolling out digital tools to support property management, lease tracking, and asset planning.

These projects are guided by business needs, user engagement, and a clear governance model aligned with NHC’s operational and strategic priorities. INFORMATION TECHNOLOGY NHC has a number of significant IT projects underway to improve operations and service delivery.

20 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 SECURING AND SCALING THE IT ENVIRONMENT Recognizing the rapid increase in IT service demands, NHC has also strengthened its internal IT team. Three new regional positions have been added in Cambridge Bay, Arviat, and Kinngait to provide frontline support to LHOs and district offices. These roles are critical to ensuring consistent, territory-wide IT services in the face of increasing cybersecurity threats and the growing complexity of NHC’s digital environment. MODERN TOOLS FOR MODERN HOUSING NHC’s investments in IT are not only technical—they are strategic.

By modernizing the digital foundation of the organization, NHC is better positioned to deliver on its housing mandate, streamline operations, and enhance the experience of clients, staff, and partners. Technology is enabling the transformation of housing in Nunavut—ensuring that Nunavut 3000 is not just a construction initiative, but a digitally connected, data- informed strategy for sustainable housing growth.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 21 The goal of Nunavut 3000 is to leverage the capacity of NHC. These plans align to provide a cohesive strategy to improve housing conditions in the territory. NHC BUSINESS PLAN NHC submits an annual business plan to the GN as part of the government’s strategic and financial planning process.

NHC’s business plan aims to support the following objectives: • Making it easier for Nunavummiut to access NHC’s programs and services through increased tenant/client engagement, education, training, strategic partnerships and digital delivery. • Introducing a new service delivery model that will change how NHC delivers its programs and services in all communities. • Continuing to acquire, maintain, repair, rebuild, and construct public housing across the territory. • Improving the performance of NHC programs and services through regular business planning and measurement, as well as targeted program evaluation. • Engaging NHC partners, stakeholders and employees in the work to expand the housing continuum in Nunavut to include all types of housing, including affordable and market housing for rent or homeownership.

ALIGNING STRATEGIES FOR SUCCESS NHC is committed to transforming the housing sector in Nunavut through three supporting business activities: NHC’s Business Plans; the Nunavut 3000 Strategy; and an Action Plan, which is being finalized in response to a performance audit report submitted by the Office of the Auditor General of Canada to the Legislative Assembly of Nunavut in May 2025.

NUNAVUT 3000 Nunavut 3000, also called Building Houses Together or Igluliuqatigiingniq, is a collaborative strategy led by NHC to expand the territory’s housing continuum. The goal of Nunavut 3000 is to leverage the capacity of NHC and other housing sector stakeholders to deliver 3,000 new units across the housing continuum by 2030. 22 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 The mandate for an expanded housing continuum comes from the Government of Nunavut’s 6th Assembly Katujjiluta Mandate and the resulting Nunavut 3000 Strategy developed by NHC.

Accelerating housing supply is a key tenet of the strategy, but there are other tenets that are important as well.

Nunavut 3000 is intended to transform Nunavut’s housing ecosystem and create pathways for Nuna vum miut to participate in it as tenants, home owners, learners, workers and business owners. designing and building housing land planning and management new and renewed programs strategic partnership and engagement community housing affordable housing The following graphic represents the vision for Nunavut’s expanded housing continuum: Homeless Emergency Shelters Transitional Housing Public Housing Affordable Rental Housing Affordable Home Ownership Market Rental Housing Market Home Ownership Elder and Senior Housing The implementation of Nunavut 3000 includes six key areas of activity:

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 23 PROJECTS LED BY NHC’S DIRECTORATE: • Strategic Partnerships and Engagement Support for any work with stakeholders, coordinating engagements, building capacity, creating and building relationships and coordinating funding and partnership opportunities.

PROJECT AREAS LED BY NHC’S INFRASTRUCTURE DIVISION: • Designing & Building Housing The design and development of housing, shelter and related infrastructure enabling accelerated housing development. • Land Planning & Management Assembling land in each community for development of the proposed housing units, as needed.

PROJECTS LED BY NHC’S OPERATIONS DIVISION: • Supported Housing Support for communities and community organizations in delivering purpose-built housing for community groups who experience housing insecurity, such as Elders, women, youth and people with disabilities. • New and Renewed Programs New and innovative program design, and renewing existing programs that accelerate housing development and housing security in an expanded housing continuum. • Affordable Housing Creating conditions that promote affordable residential housing development in tandem with pathways to support affordable rental and homeownership opportunities for Nunavummiut.

THE FINANCE & CORPORATE SERVICES DIVISION OF NHC: • Provides core central supports to these project areas including: Financial management, communications, information technology, human resources, policy development and strategic planning.

2025 PERFORMANCE AUDIT BY THE OFFICE OF THE AUDITOR GENERAL During the year, the Nunavut Housing Corporation (NHC) continued its participation in a performance audit conducted by the Office of the Auditor General of Canada (OAG). In response to the OAG’s reported findings and recommendations, NHC is finalizing an Action Plan to strengthen public housing delivery across the territory.

NHC HOUSING PRINCIPLES • Equitable Access Fair access to public housing units as determined by NHC’s point-rating system which directs Local Housing Organizations (LHOs) to allocate public housing units to those with the greatest need. • Suitable Housing Housing that has enough bedrooms for the size and makeup of the household according to the National Occupancy Standard (NOS), a common reference of how many people can be accommodated by a dwelling given the number of bedrooms. • Adequate Housing Housing that meets the basic needs of its occupants including security, privacy, space, lighting, ventilation, basic infrastructure in good condition and proximity to public services and employment. 24 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 NHC Housing Principles: • Equitable Access • Suitable Housing • Adequate Housing

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 25 NHC hopes to contribute to an annual territorial average of approximately 325 to 350 new housing starts per year. • Northern build designs, timely land leases and innovative procurement methods that improve how NHC contracts for public and affordable housing construction. • Influencing community stakeholders to create community development plans, prepare land for housing construction, manage the availability of granular supply and provide stewardship for land development funds. • Developing a Renewable, Sustainability and Asset Lifecycle Planning Strategy to improve its management of the adequacy of government-owned housing stock in the Arctic climate. • Promoting the annual Nunavut Housing Supply Challenge asking individuals, communities and housing sector stakeholders to make expressions of interest for delivering new housing supply through collaboration and innovation.

NUNAVUT 3000 PROGRESS Since the start of the 6th Assembly in 2021, 855 new residential housing units have been completed or are currently in construction. Within the same timeframe, approximately 134 supported housing beds have been completed or are in construction. Together, these numbers account for approximately 85 per cent of the Katujjiluta Mandate goal of 1,000 housing units by late 2025 and represent approximately 33 per cent of the overall Nunavut 3000 target of 3,000 units by December 2030.

Data provided by the Office of the Chief Building Official (OCBO) shows there were 314 new housing starts in 2024, a significant achievement over prior years where the annual new building starts were in the range of 150 units. NHC hopes to contribute to an annual territorial average of approximately 325 to 350 new housing starts through the remaining building seasons to 2030. DESIGNING & BUILDING HOUSING The objective of Designing & Building Housing within Nunavut 3000 focuses on:

278 UNITS UNDER CONSTRUCTION* *In construction includes materials arrived in community, foundation started, walls erected, etc. 258 COMPLETED UNITS* *Includes 18 units in iqaluit, donated by the city of iqaluit GRISE FIORD UNDER CONSTRUCTION: 6 RESOLUTE BAY UNDER CONSTRUCTION: 6 TALOYOAK UNDER CONSTRUCTION: 20 CORAL HABOUR UNDER CONSTRUCTION: 12 COMPLETED: 5 RANKIN INLET UNDER CONSTRUCTION: 20 COMPLETED: 26 IGLOOLIK UNDER CONSTRUCTION: 20 COMPLETED: 20 SANIRAJAK UNDER CONSTRUCTION: 6 COMPLETED: 20 POND INLET UNDER CONSTRUCTION: 6 COMPLETED: 30 NAUJAAT UNDER CONSTRUCTION: 6 COMPLETED: 30 KUGAARUK UNDER CONSTRUCTION: 6 COMPLETED: 10 KUGLUKTUK UNDER CONSTRUCTION: 8 COMPLETED: 5 GJOA HAVEN UNDER CONSTRUCTION: 20 COMPLETED: 10 ARCTIC BAY UNDER CONSTRUCTION: 20 ARVIAT UNDER CONSTRUCTION: 20 COMPLETED: 20 IQALUIT COMPLETED: 82 BAKER LAKE UNDER CONSTRUCTION: 20 WHALE COVE UNDER CONSTRUCTION: 6 KIMMIRUT UNDER CONSTRUCTION: 6 SANIKILUAQ UNDER CONSTRUCTION: 6 KINNGAIT UNDER CONSTRUCTION: 20 PANGNIRTUNG UNDER CONSTRUCTION: 10 CAMBRIDGE BAY UNDER CONSTRUCTION: 12 CLYDE RIVER UNDER CONSTRUCTION: 8 QIKIQTARJUAQ UNDER CONSTRUCTION: 6 CHESTERFIELD INLET UNDER CONSTRUCTION: 8 26 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 278 UNITS UNDER CONSTRUCTION* *In construction includes materials arrived in community, foundation started, walls erected, etc. 1,400 NEW PUBLIC HOUSING UNITS In Nunavut, where the housing crisis is both widespread and deeply entrenched, public housing is a lifeline.

Chronic overcrowding, limited space and inadequate ventilation contribute directly to serious health issues, and sustain an environment where Nuna - vut has the highest rates of tuberculosis in Canada. Access to safe, stable housing is essential for all Nunavummiut, regardless of income. That’s why NHC has made public housing a top priority under the Nunavut 3000 strategy.

With a target of 1,400 new public housing units by 2030, NHC is taking concrete steps to reduce housing insecurity, strengthen community resilience and close the equity gap in one of Canada’s most underserved regions. 258 COMPLETED UNITS* *Includes 18 units in Iqaluit donated by city of Iqaluit

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 27 Up to March 31, 2025, approximately 258 new public housing units have been completed since the start of the 6th Assembly — a tangible sign of progress. Each new home built under this initiative is not only a roof over someone’s head, but a vital step toward wellness, opportunity and a stronger future for Nunavut.

MEASURING & REPORTING PROGRESS NHC measures Nunavut 3000 progress by: • counting residential housing in construction (building permits) and housing units completed (occupancy permits) • including all units developed by any individual, organization or government agency (not only units delivered by NHC) • tracking units since the start of the 6th Assembly in November 2021, and • using third-party data released annually by the Office of the Chief Building Official (OCBO) in the Department of Community Services.

NHC reports on the Nunavut 3000 goal to develop 1,400 public housing units by: • counting public housing in construction (building permits) and public housing units completed (occupancy permits) since the beginning of the 6th Assembly • tracking the progress of public housing developments through the phases from procurement, construction and completion, and • releasing an annual Progress Report on NHC construction activities.

DELIVERING HOMES, BUILDING PARTNERSHIPS: ADVANCING HOUSING ACROSS NUNAVUT NHC continues to work with a growing network of partners to deliver innovative, community-focused housing solutions that reflect local needs and accelerate the construction of much-needed homes across the territory. From modular housing to student accommodations and Inuit- centered design, NHC’s partnerships are helping deliver more homes—faster, smarter and with greater impact. INDUSTRY PARTNERS • NCC Development (NCCD) Ltd.

In 2024, NHC and NCCD signed Annual Allocation and Purchase Agreements for design-build contracts to develop 166 new housing units in 17 Nunavut communities – 146 public housing units and 20 staff housing units.

28 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 • Pewapun Construction In May 2024, NHC, the Nunavut Arctic College (NAC) and Pewapun Construction launched a pilot project in Rankin Inlet to build affordable student housing while providing trades training for local students. The project is adding new housing units while giving students real-world construction experience. The success of this model has inspired plans to expand the initiative into more communities. Pewapun Construction is a social enterprise founded by the Nisichawayasihk Cree Nation in Manitoba.

With a mission to create sustainable livelihoods for Indigenous people, Pewapun combines training, education, and employment to build stronger futures and stronger communities. Pewapun provided a $3m investment in the form of material packages for 6 new student housing units in Rankin Inlet.

Construction of these 6 units is being undertaken by students from Nunavut Arctic College’s Trades School. 8 0 2 4 6 8 10 12 14 16 18 20 88 8 8 8 8 12 12 66 6 6 6 16 2020 Construction commenced in these communities Chester field Inlet Clyde River Coral Harbour Grise Fiord IgloolikKimmirutKinngaitKugaarukKugluktukNaujaat Pangnirtung Pond Inlet Resolute BayQikiqtarquaq SanirajakSanikituaqWhale Cove The total contract value is $134,728,616 – approximately $705 per square foot in hard construction costs.

In addition, NCCD was contracted to deliver 2 modular housing units across 17 communities for a total of 34 additional housing units. This represents year two of the 10-year partnership between NHC and NCCD. In year one (2023/24), NCCD commenced construction on 150 new public housing units across 8 communities as well as an additional 22 modular housing units.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 29 MODULAR PARTNERS NHC is using modular construction to help achieve its goal of adding 3,000 housing units of all types to the territory by 2030. This includes staff housing, transitional housing and temporary housing for construction workers. These units can be ready for occupancy within a single season, often much sooner than traditional stick build construction. The use of modular housing units constructed to national standards provides high-quality, cost- effective housing and accelerates housing construction.

The units are built to meet Nunavut’s Building Code requirements. NHC’s first partnership with a modular provider was in 2023 with Sakku Innovative Building Solutions (SIBS) with the acquisition of 22 new modular housing units across 11 Nunavut communities. The modular units occupied by construction workers will be converted to public housing, staff housing or supported housing upon completion of the public housing multiplex construction projects. In 2024, NHC leveraged its partnership agreement with NCC Development (NCCD) to acquire 34 modular units valued at approximately $30 million.

In 2025, NHC plans to use modular construction to deliver 54 new housing units across the territory, an investment of approximately $40 million in Nunavut’s housing continuum. These units are planned for delivery in the communities of Arviat, Baker Lake, Cambridge Bay, Clyde River, Gjoa Haven, Grise Fiord, Igloolik, Kugaaruk, Rankin Inlet and Taloyoak. NHC has awarded the master installation agreements tendered in 2024 to these firms: • Arctic Modular Homes is a specialist in Arctic housing development. This firm will deliver nine modular units.

It completed two modular pilot projects in Cambridge Bay in 2021 and 2022 under its parent company CHOU Consulting & Development Inc. • Caivan Communities is a homebuilder operating in Ottawa and the Greater Toronto Area (GTA) in Ontario. This firm is delivering 15 modular units. • NL Modular is a specialist in modular housing operating out of St. John’s, Newfoundland and Labrador. This firm is delivering 20 modular units. • RCM Modular Solutions is a specialist in modular construction operating out of Saint-Benoît-Labre, Québec. This firm is delivering 10 modular units.

By working together with organizations who share a commitment to housing, training, and community development, NHC is driving real progress toward the goals of Nunavut 3000: delivering 3,000 new homes, strengthening local capacity, and ensuring every Nunavummiut has access to a safe, healthy, and affordable place to call home.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 31 NHC’s partnerships are helping deliver more homes — faster, smarter and with greater impact. COMMUNITY VISITS In 2023 and 2024, a team of delegates from NHC and its partners, including the GN Department of (then) Community and Government Services (CGS), NCC Development (NCCD) and the Land for Homes (L4H) initiative, engaged all communities in Nunavut to strengthen relationships and learn about local priorities, land readiness, barriers to development and municipal capacity, among other topics.

Seventeen communities were visited in 2023 and 10 were visited in 2024. One of the important outcomes of these visits was choosing land for public housing units to be developed in 2024, 2025 and 2026 with an eye to ensuring any land or community readiness gaps were filled prior to ongoing development in 2027 and beyond. In this project area, NHC also participates in the Land for Homes initiative in collaboration with Nunavut Association of Municipalities (NAM) and its members, Regional Inuit Associations and Regional Inuit Development Corporations, and the Government of Nunavut Department of Community Services.

LAND PLANNING & MANAGEMENT In the Land Planning & Management area of Nunavut 3000, NHC works closely with stakeholders to reduce barriers to housing development that are rooted in land readiness, granular supply and community planning. This project area also provides support for the selection of land for NHC-planned construction of public, staff and affordable housing units. Barriers to planned projects are identified and mitigated to smooth the way for construction.

32 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 HOUSING ACCELERATOR FUND NHC supported 17 municipalities in Nunavut to make submissions to the Government of Canada’s Housing Accelerator Fund (HAF), which provided funding to the communities to improve land readiness for housing development. NAM is supporting the municipalities in delivering the projects and meeting the requirements of the funding.

In this area, NHC works with its partners and stakeholders in other human services departments, Inuit associations and community organizations to accelerate the development of housing for community groups who experience housing insecurity, such as Elders, women, youth and people with disabilities. LAND FOR HOMES The Land for Homes Initiative (L4H) is a collaborative partnership between Nunavut Tunngavik Incorporated (NTI), Nunavut Association of Municipalities (NAM) and NHC.

The partners have worked together since 2023 to strengthen collaboration, identify land-related barriers and improve access to the essential knowledge needed for coordinated action and investment. In many Nunavut communities, a lack of suitable build-ready lots remains a key risk to the accelerated and diversified housing supply needed to address the territory’s housing crisis. In 2024-25, L4H developed a new suite of land management resources purposefully designed for Nunavut’s land and housing partners involved in the planning, preparation, administration, assessment and selection of suitable land for homes.

The resources were designed to ensure land and housing partners had access to information to help them make informed decisions related to municipal land management. These resources include a centralized L4H Knowledgebase, community land supply gap assessments, over one hundred lot- specific development readiness assessments, land supply and selection guides, and a suite of digital tools to assist with land inventory, lot identification, land data collection and assessment.

In addition to the three project partners, key contributors have included the three Regional Inuit Associations, the three Regional Inuit Development Corporations, local municipalities, and the Government of Nunavut’s Department of Community and Government Services. The work of the L4H partnership was funded through the Canada Mortgage and Housing Corporation Housing Supply Challenge Round 3 (Northern Access Round). The L4H resources are available on the L4H website (landforhomes.ca).

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 33 Between November 2021 and March 31, 2025, facilities for 134 supported housing beds have been completed or have started construction. SUPPORTED HOUSING WORKING GROUP NHC participates in the Supported Housing Working Group with the GN departments of Family Services, Health, Justice, Community Services and Finance, as well as community partners from NTI and other non-profit organizations. Together, the partners seek new ways to create the conditions for sustainable supported housing to be developed, operated and maintained.

Ongoing work includes coordinating engagement and consultation with housing sector stakeholders, including NTI, Regional Inuit Associations (RIAs), non-profit housing organizations, municipalities and the federal government. SUPPORTED HOUSING CAPITAL PROGRAM NHC launched the Supported Housing Capital Program in 2024. It offers community organizations capital funding to help with the construction of transitional housing units, shelters, homes for Elders and other supportive housing units.

The Supported Housing Capital Program offers eligible projects up to $150,000 per housing unit through a forgivable loan with a minimum ten-year term. Eligible projects can access: • $100,000 per Single Room Occupancy (SRO) unit or bed; and/or • $150,000 per self-contained unit. Community organizations can also receive financial support to prepare their supported housing project plans through the Nunalingni Piruqpaalirut Fund (NP Fund) available through the Community Housing Transformation Centre.

COMMUNITY HOUSING In the Community Housing area of Nunavut 3000, NHC seeks to create conditions for accelerated development of supported housing projects. These are housing units or beds for people who need support to live independently, such as Elders, seniors, women, youth, people with disabilities or those experiencing homelessness.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 35 NUNALINGNI PIRUQPAALIRUT FUND NHC and the Community Housing and Transformation Centre (the Centre) in Montréal, Québec, signed a Partnership Agreement to support the growth of the community housing sector as part of Nunavut 3000. The partnership brings together the expertise of NHC and the Centre with the objective to build the capacity of the community housing sector in Nunavut by sharing and leveraging resources aimed at expanding, empowering and supporting non-profit organizations.

Central to the Partnership Agreement is the establishment of the $1.36 million Nunalingni Piruqpaalirut Fund (NP Fund), meaning Growth in our Land. The fund is designed to support entities with an affordable housing idea, project or initiative, enabling them to move to the next stage and bring it to fruition. Eligible projects are able to apply for a grant under the following funding streams: Capacity Building, Planning and Pre- Development, Research and Innovation.

As of March 31, 2025, twenty-one NP Fund applications had been created with 12 submitted, and five approved, each receiving $50,000 in funding, so a total of $250,000 approved projects and an additional two projects were with the Selection Committee. In total, $575,000 has been requested from all three regions in Nunavut. SUPPORTED HOUSING PROJECTS Nunavut 3000 includes a target for 300 supported housing beds, 10 per cent of the overall goal to develop 3,000 units.

The Nunavut 3000 goal of 300 supported housing beds will be achieved through the commitment of Government of Nunavut departments including Family Services, Health, Justice, as well as Nunavut Tunngavik Incorporated, Inuit associations, and community organizations and municipalities such as the Kitikmeot Friendship Society, YWCA, Uquutaq Society, the Hamlet of Kugluktuk and the Hamlet of Pond Inlet. Between November 2021 and March 31, 2025, facilities for 134 supported housing beds have been completed or have started construction.

This represents 45 per cent of the supported housing goal for 300 new beds by 2030. 45% of the supported housing goal for 300 new beds by 2030 has been achieved.

36 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 COMPLETED: 70 • Arnat Qimavik Women’s Shelter by Kitikmeot Friendship Society in Cambridge Bay 14 bed emergency shelter with programming for women and children up to age 12. Completed December 2021. Funded by Department of Family Services. • Maiittuq by YWCA in Iqaluit 10 bed transitional house for women. Completed December 2022. Funded by Department of Family Services. • Transitional House for Women by Kitikmeot Friendship Society in Cambridge Bay 3 beds, Completed June 2022.

Funded by Department of Family Services. • Men’s Shelter by Hamlet of Kugluktuk 8 bed shelter for adult men who are homeless. Completed in 2023. Funded by Department of Family Services. • Women’s Shelter by Hamlet of Pond Inlet 15 beds for women and children up to age 12. Completed in November 2023. Funded by Department of Family Services. • Women’s Shelter by Kitikmeot Friendship Centre in Gjoa Haven 10 beds for women and children up to age 12. Completed late 2024.

Funded by Department of Family Services, Nunavut Tunngavik Incorporated and Infrastructure Canada. • Men’s Shelter by Kitikmeot Friendship Centre in Gjoa Haven 10 beds for adult men. Completed late 2024. Funded by Department of Family Services, Nunavut Tunngavik Incorporated and others. IN PROGRESS: 64 • Low Barrier Transitional Housing by Uquutaq Society in Iqaluit 13 beds. In progress for 2025-26. Funded by NHC, Department of Family Services and other sources. • Low Barrier Adult Shelter by Uquutaq Society in Iqaluit 44 beds in progress for 2025-26 for adult men experiencing homelessness.

Funded by NHC, Department of Family Services and other sources. • Men’s Shelter and Wellness Centre in Pond Inlet 7 beds in progress for May 2025. Funded by Government of Canada, Department of Family Services and other sources.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 37 NHC focuses on building and sustaining partnerships that directly increase housing supply or create the conditions for it to grow. Expanding the housing continuum and enhancing housing services requires coordinated action, aligned priorities and shared investment from all partners and stakeholders in Nunavut’s housing sector. Nunavut 3000 is collaborative by design, calling on everyone engaged in the human services, housing and economic develop - ment sectors in Nunavut to consider how they can contribute to expanding the housing continuum.

To support collaboration, NHC hosted Housing Forums in 2023 and 2025 to bring housing sector stakeholders together to find innovative solutions to accelerate housing supply in the territory. KITIKMEOT INUIT ASSOCIATION (KIA) In May 2024, NHC and KIA launched the Nunavut Pathway to Homeownership Pilot Program. This initiative provides Inuit families with a structured path to homeownership, addressing the need for long-term, stable housing solutions.

Through this program, selected families will rent a unit in a newly constructed four plex while participating in a three-year financial literacy and homeownership skills training program. Once they complete the program, eligible participants will have the option to purchase a home, supported by a grant of up to $30,000. The initial pilot cohort consists of four Inuit families from Cambridge Bay. STRATEGIC PARTNERSHIPS & ENGAGEMENT NHC focuses on building and sustaining partnerships that directly increase housing supply or create the conditions for it to grow.

38 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 CANADA HOUSING AND TRANSFORMATION CENTRE (THE CENTRE) In April 2023, NHC and the Centre formed a strategic partnership to strengthen Nunavut’s community housing sector. This collaboration supports non-profit housing organizations by providing financial resources, training and technical expertise. A key outcome of this partnership is the creation of the Nunalingni Piruqpaalirut (Growth in Our Land) Fund which offers $1.3 million in funding to help organizations advance affordable housing projects.

The Centre is a national non-profit organization founded in 2018 with expertise and experience in delivering programs that support community housing nationwide. The Centre is motivated by the prospect of building on existing expertise, networks, and resources to drive transformation, sustainability and growth. NUNAVUT TUNNGAVIK INCORPORATED (NTI) AND NUNAVUT ASSOCIATION OF MUNICIPALITIES (NAM) NHC partners with NTI and NAM on the Land for Homes Initiative (L4H). Housing development depends not only on funding and construction but also on the availability of suitable land.

Through L4H, the partners work to support land planning, preparation and allocation for housing projects. This initiative is critical in addressing land shortages, which can delay or limit housing development in many communities. NUNAVUT ARCTIC COLLEGE (NAC) NHC has a longstanding partnership with NAC to strengthen Nunavut’s skilled trades workforce, ensuring that local residents have the training and qualifications needed to support the territory’s growing housing sector.

Together, they seek to train Nunavummiut in essential construction trades, ultimately reducing reliance on fly-in/fly-out labour and building a self- sufficient workforce within the territory. This partnership is expanding to include the Department of Family Services with a focus on trades training and apprenticeship as part of new plans for workforce development.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 39 NHC will continue to design and redesign programs that improve Nunavummiut participation in an expanded housing continuum. NEW HOUSING CONTACT LINE FOR NON-EMERGENCIES Accessing information about housing programs and services in Nunavut became easier in 2024 thanks to the new Housing Contact Line that was announced at the end of 2023-24. Nunavummiut across Canada can call 1-844-413-9355 and NHC phone operators in Arviat will assist callers in finding the right person to help with housing-related questions.

Callers can currently receive service in Inuktitut and English. In 2024-25, NHC received 260 calls and inquiries, related to Public Housing, Home owner ship and Staff Housing. NEW & RENEWED PROGRAMS In April 2024, NHC announced a modernized suite of housing programs to support the goals of Nunavut 3000 to expand the housing continuum and provide Nunavummiut with more pathways to participate in the territory’s housing market as renters and homeowners. NHC will continue to design and redesign programs that improve Nunavummiut participation in an expanded housing continuum.

This includes the public housing program, which is being enhanced through planned policy renewal, a new service delivery model, information technology systems enablement, and client-facing digital tools. NUNAVUT AFFORDABLE HOUSING SUPPLY INCENTIVE (NAHSI) Launched in April 2024, the NAHSI is a new program designed to encourage residential housing developers to consider affordable housing projects through a capital contribution.

40 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 To incentivize the development of afford - able units for rent or sale, NAHSI provides capital in the form of 10-year forgivable loans of $150,000 for each eligible unit, including single family dwellings, residential multiplexes, con dominiums, cooperatives and modular homes. Eligible applicants include Inuit organizations, private sector housing developers and builders, municipalities, and non-profit organizations who seek to create affordable housing in Nunavut.

NUNAVUT HOMEOWNERSHIP ASSISTANCE PROGRAM (NHAP) The NHAP is one of the territory’s first programs introduced under Nunavut 3000 to increase housing choices for Nunavummiut. This program encourages those who are interested in homeownership to pursue it, with the added benefits of learning about homeownership and gaining new skills through the process. NHAP gives eligible Nunavummiut a forgivable $250,000 loan and homeownership support to purchase and construct an approved building materials package.

NHAP ensures culturally relevant housing choices are included in the expansion of the housing continuum, while also revitalizing core community areas and helping families to create their own legacy within their communities. NUNAVUT DOWN PAYMENT ASSISTANCE PROGRAM (NDAP) The NDAP was redesigned in 2024 as part of Nunavut 3000. It assists eligible Nunavummiut with between $15,000 and $80,000 for a down payment to purchase a new or existing home. The amount of the loan is determined based on income and is forgiven over a 10-year period if all requirements are met.

Previously capped at $30,000, the increase in financial assistance up to $80,000 aims to better assist Nunavummiut in becoming homeowners, as part of NHC’s revitalized suite of homeownership programs. ELDERS HOUSING PROGRAM (EHP) The EHP, renewed through Nunavut 3000, provides personalized counselling and financial support to give Elders, seniors and people with disabilities more choices for suitable housing. The program can help Elders, seniors and people with disabilities to maintain their homes and make improvements for accessibility or aging in place.

The program also offers homeownership counselling to support Elders and other participants to make informed choices about homeownership or moving to other housing options. Program participants can receive: • An annual grant of up to $5,000 to cover the preventative maintenance of appliances, heating, plumbing, electrical systems and minor maintenance.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 41 • A one-time grant of up to $30,000 for repairs and renovations that support continued homeownership, including accessibility improvements, equipment installation and specialized modifications. Elders and other eligible participants can combine supports from the EHP, which is not income-based, with NHC’s Home Renovation Program (HRP) and Emergency Repair Program (ERP). Homeowners aged 60 or older may receive up to $30,000 through EHP. HRP and ERP funding amounts are determined by household income, and when combined with EHP, eligible Nunavummiut may access significant financial support for home repairs and renovations in a single year.

HOME RENOVATION PROGRAM (HRP) The HRP assists Nunavummiut who own and occupy their own home to undertake major repairs or renovations. Through HRP, NHC will provide successful applicants with a one-time loan to a maximum of $100,000 forgivable over 10 years for planned renovations or repairs. This loan can be used to cover the cost of materials, freight and labour. Approved projects are prioritized based on the type of renovation or repairs. The highest priority is given to projects that involve resolving health, safety, accessibility or suitability issues.

HRP participants will also receive program and technical assistance from NHC before and during the construction process. Nunavummiut can also apply for an HRP rebate for 50 per cent of eligible costs up to $20,000 for renovations or repairs they have already completed. 42 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 NHC’s partnerships are helping deliver more homes — faster, smarter and with greater impact. EMERGENCY REPAIR PROGRAM (ERP) The ERP assists homeowners to undertake urgent repairs that pose an imminent threat to health and safety in the home where they live.

Through ERP, you can receive a grant of up to $15,000. The grant can be used for the costs of materials, labour and freight. Homeowners can apply for the grant before starting the work or within 14 days of completing it. There is no guarantee that a grant will be awarded for emergency repairs. The ERP can be combined with NHC’s Home Renovation Program (HRP), which offers a forgivable loan of up to $100,000 based on household income. Clients earning between $0 and $125,000 annually may qualify for support, allowing eligible Nunavummiut to access significant funding for home repairs and renovations.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 43 Nunavut 3000 is an opportunity to train Nunavummiut across the territory and grow a skilled, local workforce ready to meet the needs of today and tomorrow. In 2024, NHC continued its collaboration with the Nunavut Arctic College and the Government of Nunavut’s Department of Family Services to develop homegrown trades talent through hands-on, real-world training opportunities embedded in local housing projects. These partnerships are helping Inuit gain valuable skills, build sustainable careers and contribute meaningfully to their communities.

NUNAVUT 3000 IN ACTION: REAL PROJECTS, REAL IMPACT • Community-Based Skills Training Through the NCCD partnership, tailored training programs are delivered in the communities where homes are being built. Between April 2023 and March 31, 2025, has created approximately 110 training opportunities for Inuit, with roughly 60 individuals completing the program—and over 50% securing employment as a result.

This means more Nunavummiut are entering the trades with the skills and confidence to succeed. • Workforce Development through Strategic Partnerships In April 2024, NHC partnered with Birchcliff Development to deliver 24 new affordable homes on Iqaluit’s beachfront. This project was intentionally designed to offer training opportunities for Inuit, resulting in approximately 25% Inuit labour participation. Birchcliff has committed to retaining successful trainees for future projects—ensuring continuity and long- term impact.

WORKFORCE DEVELOPMENT Nunavut 3000 is an opportunity to train Nunavummiut across the territory and grow a skilled, local workforce ready to meet the needs of today and tomorrow. By aligning construction activity with strategic workforce development, Nunavut 3000 can be leveraged to increase the number of local pre-apprentices, apprentices and skilled tradespeople.

44 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 • Innovative Approaches to Student Housing In May 2024, NHC joined forces with Pewapun Construction—a social enterprise founded by the Nisichawayasihk Cree Nation—to expand affordable student housing in Rankin Inlet while simultaneously offering trades training to Nunavut Arctic College students. Construction of six new student units is already underway and set for completion in fall 2025. • Expanding the Student Trades Training Program Across Nunavut In 2025, the student construction model will grow further.

NHC and Pewapun Construction will develop six additional units in Rankin Inlet, while a new partnership with Arctic Fresh Projects Inc. will bring six more units to Igloolik. These projects ensure that trades training is not just a one-time benefit, but an ongoing investment in Nunavut’s workforce. • Embedding Long-Term Capacity into Contracts To ensure sustained growth in local skills and capacity, NHC is integrating training and local labour participation requirements into relevant tenders, agreements, and contracts.

This policy shift helps ensure that every housing project contributes not just to infrastructure—but to workforce resilience and community well-being. PEWAPUN PROJECT In May 2024, NHC joined with Nunavut Arctic College (NAC), Atoskiwin Training and Employment Centre Inc. (ATEC) and Pewapun Construction Limited to sign a partnership agreement for a new affordable housing pilot project. The project will increase the supply of affordable student housing while also providing additional trades training opportunities for NAC students.

The project’s construction includes six new three-bedroom affordable housing units for student families in Rankin Inlet, slated for occupancy by fall 2025. Pewapun is supplying $3 million in materials and specialized support during construction, while the units are being built by students and instructors in NAC’s skilled trades worker programs. The initiative will provide a blueprint for additional pilot programs moving forward. By supporting students through on-the-job training, such programs can expand Nunavut’s skilled workforce and extend housing solutions to communities throughout the territory.

Pewapun Construction Limited is a social enterprise created in 2016 by the Nisichawayasihk Cree Nation in Manitoba as a sister company to the ATEC. Pewapun’s aim is to create sustainable livelihoods for Indigenous people by providing training, education, employment, and self-employment opportunities. To learn more about the training and employment opportunities at NCCD, visit https://www.nccig.ca/we-are-hiring/. To learn more about the training opportunities at the Nunavut Arctic College, visit https://www.arcticcollege.com/trades-and-technology.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 45 The Government of Nunavut’s contributions totalled $355 million, representing 77% of the Corporation’s total revenues. TOTAL REVENUE & GOVERNMENT FUNDING Total revenues decreased to $462 million in the current fiscal year, down from $531 million in the prior year, as some one-time funding, predominantly from federal sources did not recur this year. Of this total, $418 million (or 91%) was derived from transfers received from the Government of Nunavut, the Government of Canada, and the City of Iqaluit.

The Government of Nunavut’s contributions totalled $355 million, representing 77% of the Corporation’s total revenues. Transfers from the Government of Canada include funding from CMHC and CIRNAC. CMHC revenues consist of both capital con - tributions and operating funding provided under the Social Housing Agreement.

CIRNAC revenues relate to infrastructure funding. $0 $100 $200 $300 $400 $500 $600 2024-25 2023-24 2022-23 2021-22 2020-21 $355 $63 $19 $462 $25 $371 $121 $20 $531 $19 $294 $79 $11 $402 $18 $338 $69 $6 $430 $17 $268 $57 $6 $348 $17 2024-25 Revenue Sources ($ Millions) GN CMHC/CIRNAC/Iqaluit Rent Other FINANCIAL MANAGEMENT & ANALYSIS

46 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 $0 $5 $10 $15 $20 $25 $18.9 $19.8 $4.9 $3.9 $13.8 $14.5 $7.1 $1.3 Non-Government Revenues ($ Millions) Public Housing Rent Other Rental Revenues Investment Revenues Other NON-GOVERNMENT REVENUES ($ MILLIONS) Generated revenues increased to $44.7 million in 2024-25 from $39.5 million in 2023-24 and $29.4 million in 2022-23, reflecting steady year-over-year growth. Public Housing Rent remains the largest component, generating $18.9 million, though slightly lower than the previous year. Other rental revenues increased modestly to $4.9 million.

Investment revenues remained strong at $13.8 million, maintaining the significant gains achieved in 2023-24. “Other” revenues rose substantially to $7.1 million, up from $1.3 million, driven by condominium sales and reversal of land lease accruals. 2024-2025 2023-2024 Investment revenues remained strong at $13.8 million, maintain- ing the significant gains achieved in 2023-24.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 47 TOTAL EXPENSES Total expenditures increased across all program areas in 2024-25 compared to 2023-24. Public Housing expenditures rose to $259 million from $245 million, reflecting ongoing investments in housing operations and maintenance. Staff Housing expenditures increased to $76 million from $71 million, while Advisory and Administrative costs grew to $39 million from $32 million, reflecting expanded program support and operational activities.

Homeownership program expenditures also increased to $8 million, up from $5 million in the prior year, driven by enhanced maintenance activities in the fiscal, supporting ongoing homeownership. $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 2024-25 2023-24 2022-23 2021-22 $259 $245 $241 $228 $76 $39 $8 $71 $32 $5 $67 $27 $6 $70 $23 $4 $382 $353 $341 $325 Expenses ($ Millions) Public Housing Staff Housing Advisory & Admin Homeownership

48 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 $0 $2 $4 $6 $8 $10 $12 $14 $16 $18 $20 $18.1 $15.0 $12.9 $8.6 $2.1 $1.6 $1.7 $1.6 $4.5 $5.5 Advisory and Administration Costs ($ Millions) PUBLIC HOUSING NHC continues to address the dire need for housing in Nunavut. The chart below shows each community’s housing need, measured using each community’s public housing need as a percentage of its existing public housing stock. For example, if a community with a public housing waiting list of 1,000 units currently has a stock of 2,500 units, its housing need as a percentage of stock is 40 per cent (1,000/2,500).

In the chart, communities with a relative housing need above 40 per cent have the most critical need for public housing, while those below 30 per cent have a comparatively less severe need. Please note that these figures exclusively consider public housing and do not include staff housing, private rentals, and other housing stock within each community.

Compensation & Benefits Professional & Special Services Travel & Training OtherOffice Accommodations 2024-2025 2023-2024 ADVISORY & ADMINISTRATION Advisory and Administration costs (excluding administration costs related to staff housing) increased to $39.3 million from $32.3 million. Professional and special services expenses increased by $4.3 million compared to prior year to support the Nunavut 3000 projects. Compensation costs increased $3.1 million - also in support of Nunavut 3000 projects.

The Corporation completed the roll-out of the new asset management system; continues to address the AR and Collections tracking at the LHOs and is in the process of implementing a new tenant management system. Internet service system improvement projects across all communities have been completed and hardware equipment upgrades continue to be prioritized.

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 49 Housing Need as a Percentage of Stock Sanikiluaq Chesterfield Inlet Grise Fiord Resolute Bay Qikiqtarjuaq Kimmirut Kugluktuk Sanirajak Baker Lake Pond Inlet Pangnirtung Cambridge Bay Arctic Bay Clyde River Kugaaruk Coral Harbour Gjoa Haven Taloyoak Naujaat Igloolik Iqaluit Whale Cove Arviat Kinngait Rankin Inlet 29% 30% 34% 38% 38% 45% 46% 48% 49% 49% 51% 55% 55% 56% 59% 60% 63% 67% 69% 70% 73% 76% 81% 87% 92% Less Critical High Critical The Nunavut Housing Corporation employs the metric of housing need as a percentage of existing stock to strategically inform and prioritize new residential construction initiatives.

Funding for these projects is sourced both from the Government of Nunavut's capital budget and through federal contributions under the National Housing Strategy. This approach ensures a data-driven allocation of resources, focusing development efforts where housing shortages are most acute. Over time, the continued application of relative need as the guiding methodology for construction is anticipated to incrementally reduce disparities in housing availability across all Nunavut communities, supporting the broader objective of equitable access to appropriate and affordable housing throughout the territory.

50 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 RENT SCALE IN PUBLIC HOUSING NHC wants to charge public housing tenants an affordable rent. • The Canada Mortgage and Housing Corporation defines an affordable rent as being less than 30 per cent of a gross household income. • Not a single public housing household exceeds this limit. Most households living in public housing (61%) are charged less than 5% of their household income. RENT GEARED TO INCOME Public housing rent assessments are geared to a tenant’s income, meaning the more income a tenant makes, the more rent they are likely to pay.

The public housing rent scale assesses the income of the two primary tenants in each unit based on the following annual income brackets: • Below $33,280: Up to $60 a month • $33,280 to $40,000: 20% of annual income • $40,000 to $80,000: 25% of annual income • $80,000 and above: 30% of annual income With 60 per cent of public housing tenants earning less than $33,280 per year, the LHOs’ ability to generate revenues from rent is severely limited. Income Distribution Among Tenants Below $33,280 $33,281 to $40,000 $40,000 to $60,000 $60,000 to $80,000 $80,000 to $100,000 $100,001+ 60% 6% 10% 6% 6% 12%

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 51 60.7% of households are charged between 0 and 5% of income 1.6% of households are charged 21% or more of their income 5.7% of households are charged between 16% and 20% of their income 21.1% of households are charged between 6 and 10% of theirincome 11.1% of households are charged between 11 and 15% of their income Rent Charged for Public Housing Units as a Percentage of Household Income

SUMMARY OF COLLECTIONS ACTIVITY Throughout the year, staff continued to work diligently with clients and tenants to develop payment plans that are affordable and reasonably adjusted to individual circumstances, while ensuring action is taken towards reducing arrears. This includes providing support and resources to each Local Housing Organization (LHO) to ensure improved collections outcomes. These efforts have resulted in average collections rates improving to 88% in 2024- 25, compared with 78% in 2023-24, however arrears remain a significant issue.

To maximize its limited resources and maintain the quality of its programs and services, NHC is taking a proactive stance on collecting arrears. This includes working closely with the Department of Justice to improve collection outcomes by soliciting Rental Officer support, utilizing small claims court, garnishment of wages, and third- party collections. Additionally, NHC continues to provide specialized administrative support to LHOs who are not meeting collection targets.

In 2024-25, NHC expanded the use of a consultant firm to assist in debt collection and in the modernization of NHC’s Collection Policies and Procedures. In 2025, NHC will continue its focus on repayments and arrears prevention solutions. Procedural updates will be aimed at supporting LHO staff to work collaboratively with NHC personnel and their tenants to collect existing arrears and prevent further accumulation.

52 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 Public Housing Rent Collection Rates Community Rent Receivable Number of Months Outstanding 2024-2025 2023-2024 2022-2023 ($’000) (%) (%) (%) Arctic Bay $2,750 71 105 61 43 Clyde River $5,914 108 73 61 51 Grise Fiord $ 430 36 42 53 58 Igloolik $4,192 46 46 40 52 Iqaluit $3,194 33 75 61 64 Kimmirut $1,058 28 87 69 75 Kinngait $1,537 27 101 101 103 Pangnirtung $3,103 37 63 71 73 Pond Inlet $4,449 44 95 63 67 Qikiqtarjuaq $1,344 49 83 58 70 Resolute Bay $268 18 99 102 95 Sanikiluaq $1,603 33 113 57 58 Sanirajak $3,881 69 77 74 69 Qikiqtaaluk Total $33,723 47 80 64 67 Arviat $2,492 23 102 91 101 Baker Lake $1,723 14 97 103 102 Chesterfield Inlet $ 632 21 97 75 68 Coral Harbour $435 8 97 86 84 Repulse Bay $722 10 93 86 95 Rankin Inlet $1,790 13 105 107 98 Whale Cove $251 10 66 80 83 Kivalliq Total $8,045 15 98 95 93 Cambridge Bay $2,825 42 80 85 98 Gjoa Haven $1,852 28 91 77 87 Kugaaruk $1,157 22 82 80 90 Kugluktuk $1,865 30 104 71 82 Taloyoak $1,292 25 92 96 91 Kitikmeot Total $8,991 30 90 81 87 Total Nunavut $50,759 32 88 78 80

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 53 In 2024-25, Local Housing Organizations (LHOs) assessed $18.9 million in public housing rent. This amounts to only seven per cent of the cost of providing public housing. The Government of Nunavut (GN) provide the bulk of the funds needed to run a viable public housing program.

The GN’s contribution will continue to grow as expenses to maintain units continues to increase yearly and as more and more housing units are added to the stock. $18.9 $258.9 Public Housing Costs and Rent Collected ($ Millions) $142.5 $131.4 $127.6 $42.0 $40.1 $39.0 $39.5 $35.7 $37.5 $14.7 $13.8 $12.1 $6.5 $8.8 $10.2 $13.6 $15.3 $14.6 Operating Costs Break Down ($ Millions) OPERATION & MAINTENANCE COSTS FOR PUBLIC HOUSING ($ MILLIONS) The Public Housing Program expenses are listed on a single line of the Consolidated Statement of Operations with the details outlined in graph below.

In 2024-25, NHC saw the Public Housing Program costs increase by $13.9 million to $258.9 million, primarily due to increases in utilities, and in LHO administration and maintenance costs driven by cost escalation and the increasing cost of maintaining aging housing inventory. NHC continues to work with our partners to explore innovative ways to increase funding and reduce the cost of delivering housing. Rent (in millions) Cost of public housing (in millions) Utilities Amortization LHO Maintenance LHO Admin M&I Other 2024-2025 2023-2024 2022-2023 $160 $140 $120 $100 $80 $60 $40 $20 0

54 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 Water and sewage cost are the largest single expense for public housing. They are greater than the cost of LHO administration and maintenance combined. MODERNIZATION & IMPROVEMENT ($ MILLIONS) NHC is responsible for 5,934 units in the public housing portfolio. The Modernization and Improvement Program ensures the health, safety and suitability of these units. In 2024-25, $6.5 million (2023-24 – $8.8 million) was spent on modernization and improvements. Funding for the program came from the GN and CMHC.

Modernization and Improvement Funding ($ Millions) Average Operating Costs Per Unit ($ Thousands) Water & Sewage $10.7 LHO Maintenance $6.7 Power $7.2 LHO Admin $2.5 Fuel $5.0 Garbage $1.2 Taxes $0.1 Subtotal for Utilities: $24.2 Subtotal for LHO: $9.2 Total LHO + Utilities: $33.4 Funding Source 2024-24 2023-24 GN $1.1 $2.2 CMHC $5.4 $6.6 Total $6.5 $8.8

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 55 Staff Housing Operations and Maintenance Costs ($ Millions) $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 $18.0 $12.9 $8.6 $4.5 $5.5 $18 Leasing Utilities, Taxes & Land Leases Maintenance AmortizationAgency Fees 2024-2025 2023-2024 $44.7 $43.0 $12.8 $11.1 $7.0 $6.0 $5.0 $4.2 $6.9 $6.6 STAFF HOUSING The inventory of 1,721 staff housing units is administered by the Corporation. Of these, 606 are owned by the Corporation while 1,115 units are leased (65 per cent of the staff housing portfolio).

The Corporation is addressing the composition of this portfolio with a view toward rebalancing its assets. Steps are being taken to increase the range of housing options available to Government of Nunavut staff. Staff housing program costs increased to $76.4 million from $70.9 million, an increase of $5.5 million. This was largely driven by a $1.7 million increase in leasing cost; $1.7 million increase in utilities expenses; and $1 million increase in maintenance cost. Revenues for staff housing rents are collected and retained by the Government of Nunavut Department of Finance.

56 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 HOMEOWNERSHIP PROGRAMS Nunavut Housing Corporation (NHC) offers two types of homeownership programs: home purchase assistance programs, and home renovation and repair programs. NHC’s homeownership programs provide support to Nunavummiut to purchase and maintain their homes. In 2024-25, some programs were consolidated to help streamline the application process for applicants.

Active Home Purchase Programs Currently Offered: • Nunavut Downpayment Assistance Program (NDAP) • Nunavut Homeownership Assistance Program (NHAP) Active Home Renovation and Repair Programs Currently Offered: • Elders Housing Program (EHP) • Home Renovation Program (HRP) • Emergency Repair Program (ERP) • Renewable Energy Homeowner Grant Program (REHGP) Home Ownership Value of Approvals per Program The Nunavut Downpayment Assistance Program, the Home Repair Program and the Emergency Repair Program were the most active, accounting for 85.9 per cent of expenditures and 78 per cent of approved applications.

Location Program Qikiqtaaluk Kitikmeot Kivalliq Total Nunavut ERP $ 351,000 $ 83,000 $ 409,000 $ 843,000 HRP 623,000 59,000 434,000 1,116,00 EHP 45,000 29,000 190,000 264,000 NDAP 640,000 370,000 120,000 1,130,000 NHAP 0 0 0 0 REHGP 0 0 0 0 Total $ 1,659,000 $ 541,000 $ 1,153,000 $ 3,353,000

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 57 Homeownership Program Applications Approved per Community Homeownership Program Community ERP HRP EHP NDAP NHAP REHGP Total Arctic Bay 4 1 - - - - 5 Clyde River - 1 - - - - 1 Grise Fiord - - - - - - - Igloolik 5 3 1 - - - 9 Iqaluit 16 17 5 22 - - 60 Kimmirut - - - - - - - Kinngait 5 - - - - - 5 Pangnirtung 2 1 - - - - 3 Pond Inlet 1 1 1 - - - 3 Qikiqtarjuaq 8 6 2 - - - 16 Resolute Bay 1 1 - - - - 2 Sanikiluaq 4 2 1 - - - 7 Sanirajak - - - - - - - Qikiqtaaluk Totals 46 33 10 22 0 0 111 Cambridge Bay 7 2 2 8 - - 19 Gjoa Haven 1 - - - - - 1 Kugaaruk 4 1 1 - - - 6 Kugluktuk 2 - - 1 - - 3 Taloyoak 1 - - - - - 1 Kitikmeot Totals 15 3 3 9 0 0 30 Arviat 24 9 14 - - - 47 Baker Lake 12 4 6 1 - - 23 Chesterfield Inlet 4 1 - - - - 5 Coral Harbour 2 4 1 - - - 7 Naujaat 4 6 7 - - - 17 Rankin Inlet 14 12 4 2 - - 32 Whale Cove 2 - 2 - - - 4 Kivalliq Totals 62 36 34 3 0 0 135 Nunavut Totals 123 72 47 34 0 0 276

HOMEOWNERSHIP PROGRAM ELIGIBILITY Eligibility criteria for the homeownership programs includes income testing. Verifications of income (VOI) guidelines permit adjustments to gross income, including the exclusion of Vacation Travel Allowance (VTA) and other Northern costs of living allowances provided by employers in Nunavut. • Maximum Construction Cost (MCC) Calculated for the purpose of establishing affordability threshold to calculate an income needed to own and operate home. Cost to build a modest 3-bedroom house (Including site preparation, foundation, materials, freight and labour).

Utilizing a cost per square foot x 1000 square feet. MCC may be adjusted to allow for unit suitability (according to national occupancy standards). • Shelter Costs (SC) This includes property taxes, maintenance, insurance, heat, municipal services. • Land Lease Costs Where a community charges an annual lease payment, it will be included as a shelter cost as a monthly payment. Where a community issues equity leases, payment in full can be made and added to the financing costs through the lender and added to the MCC. 58 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 59 CONSTRUCTION PROGRAM Housing Units Made Available (approved for occupancy) in 2023-24 Housing Units Made Available in 2024-25 Community Building Type # of Units Arctic Bay Duplex-Modular 2 Arviat Duplex-Modular 2 Baker Lake Duplex-Modular 2 Cambridge Bay Duplex-Modular 2 Iqaluit Multiplex 18 Rankin Inlet Multiplex 5 Rankin Inlet Multiplex 5 Rankin Inlet Duplex-Modular 2 Total Units 38 Community Building Type # of Units Iqaluit Multiplex- SH 24 Iqaluit Multiplex- PH 18 Sanirajak Duplex-Modular 2 Gjoa Haven Duplex-Modular 2 Total Units 46

60 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 Housing Construction in Progress 2024-2025 Community Building Type # of Units Arctic Bay Multiplex 8 Arctic Bay Multiplex 12 Arviat Multiplex 8 Arviat Multiplex 12 Baker Lake Multiplex 8 Baker Lake Multiplex 12 Cambridge Bay Multiplex 12 Chesterfield Inlet Multiplex 8 Chesterfield Inlet Modular 2 Clyde River Multiplex 8 Clyde River Modular 2 Coral Harbour Multiplex 12 Coral Harbour Modular 2 Gjoa Haven Multiplex 8 Gjoa Haven Multiplex 12 Grise Fiord Multiplex 6 Igloolik Multiplex 12 Igloolik Multiplex 8 Igloolik Modular 2 Kinngait Duplex-Modular 2 Kinngait Multiplex 8 Kinngait Multiplex 12 Kinngait Modular- RCMP 2 Kugaaruk Multiplex 8 Kugaaruk Modular 2 Kugluktuk Multiplex 12 Kugluktuk Modular 2 Naujaat Multiplex 8 Naujaat Modular 2 Pangnirtung Multiplex 8 Pangnirtung Multiplex 8 Pangnirtung Duplex-Modular 2 Pond Inlet Multiplex 8 Pond Inlet Modular 2 Qikiqtarjuaq Multiplex 6 Qikiqtarjuaq Modular 2 Rankin Inlet Duplex- Student Housing 2 Rankin Inlet Duplex- Student Housing 2 Rankin Inlet Duplex- Student Housing 2 Rankin Inlet Modular- RCMP 2 Rankin Inlet Multiplex 8 Rankin Inlet Multiplex 12 Resolute Bay Multiplex 6 Resolute Bay Modular 2 Sanikiluaq Multiplex 8 Sanikiluaq Modular 2 Sanikiluaq Duplex-Modular 2 Sanirajak Multiplex 8 Taloyoak Duplex-Modular 2 Taloyoak Multiplex 8 Taloyoak Multiplex 12 Whale Cove Multiplex 6 Whale Cove Modular 2 Total Units 334

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 61 WRITE-OFF OF CORPORATE DEBT For the fiscal year ended 31 March 2025, the Nunavut Housing Corporation wrote off $4.97 million (prior year: $0) in receivables, in accordance with

Section 84 and

Section 82 of the Financial Administration Act. NHC may write off debts up to $20,000; amounts above this require Legislative Assembly approval. Write-offs relate to: • Deceased Clients: Balances from deceased tenants or mortgage holders with no estate assets, verified through Vital Statistics and Public Trustees. • Statute-Barred Accounts: Debts inactive for over six years, legally unenforceable under the Limitation of Actions Act, after all reasonable collection efforts. All individual write-offs over $20,000 were Board-approved. These debts are not forgiven, and collection efforts continue where possible.

Below is the listing by community categorized by account balances less than and greater than $500.

Deceased Clients Count Balances < CAD$500 Count Balances > CAD$500 Total Count Total Balances Arctic Bay 0 - $ 1 163,346$ 1 163,346$ Arviat 4 1,111 10 48,763 14 49,874 Baker Lake 1 120 11 131,986 12 132,106 Cambridge Bay 0 - 10 31,592 10 31,592 Chesterfield Inlet 3 729 1 13,057 4 13,786 Clyde River 0- - - - - Coral Harbour 3 668 5 52,221 8 52,889 Grise Fiord 0 - - - - - Igloolik 12 1,497 18 65,463 30 66,961 Iqaluit 10 2,011 7 23,641 17 25,653 Kimmirut 0- - - - - Kikitak (Gjoa Haven) 0- 12 76,133 12 76,133 Kinngait (Cape Dorset) 13 3,281 23 164,098 36 167,379 Kugaaruk 2 638 - - 2 638 Kugluktuk 17 5 6 38,140 7 38,215 Naujaat 2 396 3 7,635 5 8,031 Pangnirtung 23 4,515 23 118,574 46 123,089 Pond Inlet 0- - - - - Qikiqtarjuaq 0- - - - - Rankin Inlet 4 688 11 31,959 15 32,647 Resolute Bay 3 641 4 175,478 7 176,119 Sanikiluaq (Qammaq) 4 777 8 124,411 12 125,187 Sanirajak (Hall Beach) 4 873 5 102,251 9 103,124 Taloyoak 1 60 4 42,221 5 42,281 Tasiurqtit (Whale Cove) 0- 1 493,672 1 493,672 Total for Deceased Clients 90 18,080 $ 163 1,904,640$ 253 1,922,720$ Account Balances Written Off in FY 2024/25

62 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 Statue Barred Clients Count Balances < CAD$500 Count Balances > CAD$500 Total Count Total Balances Arctic Bay 7 852 $ 6 62,465$ 13 63,317$ Arviat 17 1,510 3 65,299 20 66,809 Baker Lake 30 5,007 24 150,434 54 155,441 Cambridge Bay 41 6,522 35 199,742 76 206,264 Chesterfield Inlet 22 5,118 10 29,146 32 34,264 Clyde River 7 1,448 7 23,081 14 24,529 Coral Harbour 21 4,997 12 33,560 33 38,557 Grise Ford 3 760 8 30,396 11 31,156 Igloolik 65 12,073 84 465,684 149 477,757 Iqaluit 19 3,557 65 402,047 84 405,604 Kikitak (Gjoa Haven) 86 17,560 67 295,589 153 313,150 Kimmirut 7 1,287 18 34,119 25 35,406 Kinngait (Cape Dorset) 33 6,844 43 173,394 76 180,238 Kugaaruk 9 1,725 4 20,717 13 22,441 Kugluktuk 30 6,734 39 93,358 69 100,092 Naujaat 6 1,374 9 13,177 15 14,551 Pangnirtung 0- - - - - Pond Inlet 51 11,218 45 160,120 96 171,338 Qikiqtarjuag 4 902 8 123,768 12 124,669 Rankin Inlet 13 2,354 31 101,209 44 103,564 Resolute Bay 8 1,821 19 67,048 27 68,869 Sanikiluaq (Qammaq) 26 3,977 17 59,266 43 63,243 Sanirajak (Hall Beach) 7 1,631 17 151,435 24 153,066 Taloyoak 33 6,714 31 183,644 64 190,359 Tasiurqtit (Whale Cove) 19 2,419 - - 19 2,419 Total for Statue Barred Clients 564 108,404$ 602 2,938,698$ 1,166 3,047,102$ Total Written Off for Deceased and Statue Barred Accounts 1,419 4,969,822 WRITE OFF/WRITE DOWN OF TANGIBLE CAPITAL ASSETS

Section 84 of the Financial Administration Act requires public agencies to include in the annual report, any asset, debt, or obligation exceeding $500 that was written-off during the fiscal year. Nunavut Housing Corporation (NHC) is required to remove the cost from accounts for any asset that no longer can provide any economic benefit to the Government. Under

section 82 of the Financial Administration Act, a public agency such as the NHC has the authority to write-off/write down the value of assets up to $20,000. Any write-off/write down request above $20,000 require the express authority of

an Act through the Legislative Assembly. During 2024-25, with the approval of the Legislative Assembly, the corporation wrote-off/wrote down tangible capital assets with a net book value of $1 million. Number of Public Housing Units Reason for Write-off/ Write Down Amount ($’000s) 12 Burnt and demolished $ 222 3 Burnt and requires repair $ 4 102 Mould damaged and requires remediation $ 780 Total $1,006

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 63 INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS March 31, 2025 CONSOLIDATED FINANCIAL STATEMENTS Management’s Responsibility for Financial Reporting . . . . . . . . . . . . . . . . . . . . . . . . . .64 Independent Auditor’s Report . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65 Consolidated Statement of Financial Position . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .69 Consolidated Statement of Operations and Accumulated Surplus . . . . . . . . . . . . . .70 Consolidated Statement of Changes in Net Financial Assets . . . . . . . . . . . . . . . . . . .71 Consolidated Statement of Cash Flow . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .72 Notes to the Consolidated Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73

Schedule A – Consolidated

Schedule of Tangible Capital Assets . . . . . . . . . . . . . . . .92

Schedule B – Consolidated

Schedule of Other Revenue and Recoveries . . . . . . . . . .93

Schedule C – Consolidated

Schedule of Expense by Object . . . . . . . . . . . . . . . . . . . . .94

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NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 85

86 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 87

88 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 89

90 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 91

92 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025

NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025 93

94 NUNAVUT HOUSING CORPORATION | ANNUAL REPORT 2024-2025