First Northwest Bancorp Watch

from S-1 21 pages Plan of Conversion of First Federal Savings and Loan Association of Port Angeles Port Angeles, Washington as Adopted on May 22, 2012 and Amended on November 20, 2012 First Federal Savings and Loan Association of Port Angeles Port Angeles, Washington Plan of Conversion From State Mutual Savings Bank to State Stock Savings Bank and Formation of a Holding Company Introduction

from S-1 5 pages Sandler O’neill & Partners, L.P. (“Sandler O’neill”) Is Pleased to Act as Records Management Agent to First Federal Savings and Loan Association of Port Angeles (The “Bank”) in Connection With the Bank’s Proposed Conversion From Mutual to Stock Form (The “Conversion”). This Letter Is to Confirm the Terms and Conditions of Our Engagement. Services and Fees in Our Role as Records Management Agent, We Anticipate That Our Services Will Include the Services Outlined Below, Each as May Be Necessary and as the Company May Reasonably Request: I. Consolidation of Accounts and Vote Calculation II. Design and Preparation of Proxy and Stock Order Forms III. Organization and Supervision of the Conversion Center IV. Proxy Solicitation and Special Meeting Services V. Subscription Services Each of These Services Is Further Described in Appendix a to This Agreement