This notice provides plan participants with an update on ESOP distributions.

• The ESOP was terminated on April 6, 2021. The first distribution packages were sent starting in June 2021; they provided for a one-time election to receive a distribution of up to 75% of the accounts (excluding any amounts held in escrow under the terms of the transaction). As a result, a large portion of the assets held in the ESOP trust were distributed.

• The ESOP was amended to allow for a supplemental distribution before the final distribution. In 2023, a participant was able to make an election to receive a lump-sum distribution of up to 75% percent of the participant’s account balance as of December 31, 2021. The distribution packages were sent out in 2023. Participants had the option to receive their distribution in cash or to roll over the distribution to another tax-qualified plan or IRA. They received a special tax notice with the distribution package and were informed to consult with their tax advisors.

• The ESOP has received a favorable determination letter from the Internal Revenue Service and the escrow provided for in the sale transaction has been released. As a result, the final distribution is now being made. Participants will have until June 30, 2024 to return their distribution packages. If they do not, their balance will be sent to an IRA.