NOTICE OF ADOPTION OF PLAN OF MUTUAL HOLDING COMPANY REORGANIZATION NOTICE IS HEREBY GIVEN that on May 12, 2026, the Board of Trustees of Ulster Savings Bank, a New York-chartered mutual savings bank with its executive offices/headquarters located at 180 Schwenk Drive, Kingston, New York 12401, approved a Plan of Mutual Holding Company Reorganization (the "Plan of Reorganization"). Pursuant to the Plan of Reorganization, Ulster Savings Bank will convert from a mutual bank into a stock bank and reorganize into the mutual holding company form of ownership by forming a mutual holding company ("MHC"), a mutually-owned corporation under the laws of the state of New York. A copy of the Plan of Reorganization is available for inspection by Ulster Savings Bank depositors at each banking office of Ulster Savings Bank. The reorganization will not affect loans and deposit accounts at Ulster Savings Bank and all insured deposit accounts will remain insured by the Federal Deposit Insurance Corporation up to the applicable legal limit, without interruption. Each office of Ulster Savings Bank will continue to operate after the completion of the reorganization. The Plan of Reorganization is subject to approval by the New York State Department of Financial Services, non-objection by the Federal Deposit Insurance Corporation and approval by depositors of Ulster Savings Bank. The formation of the MHC as part of the reorganization is subject to approval by the Board of Governors of the Federal Reserve System. May 15 2026 LNYS0518572