Arrow Financial (AROW) investor relations material

Opening remarks and agenda

• The meeting was held virtually from the Glens Falls, NY headquarters, emphasizing efficiency and environmental consciousness.

• The agenda included an overview of the company, financial performance, business updates, and a forward-looking strategy, including the pending acquisition of Adirondack Bank.

• Stakeholders were invited to submit questions during the meeting, with responses promised post-meeting.

Financial performance review

• 2025 saw substantial earnings per share growth, a 1% return on assets, and a net interest margin just under 3.2%.

• Net charge-offs were below 20 basis points, and regulatory capital ratios improved, with shareholder equity rising by $31 million to $432 million.

• The first quarter of 2026 delivered net income of $13.5 million ($0.82 per share), with net interest margin rising to 3.48% and return on assets at 1.23%.

• Charge-offs and non-performing loans further declined, and the cost of retail deposits dropped to 1.62%.

Board and executive committee updates

• Darrin Jahnel, an AI expert and entrepreneur, joined the board, while Elizabeth Miller was recognized for over a decade of service.

• The executive leadership team and senior leaders were acknowledged for their expertise and commitment.