COLONY BANKCORP INC

Base Salary. Base salary is established for each executive to reflect the potential contribution of the executive to the achievement of the Company’s and the Bank’s business objectives and to be competitive with base salaries paid by other institutions. The Company utilizes Industry specific salary surveys as a source to evaluate competitiveness of base salaries. The level of each executive officer’s base salary is designed to reward performance for carrying out the required day-to-day activities and responsibilities of each officer’s position. We increase base salaries based upon competitive market needs, our past and expected financial performance and the individual executive’s performance. Base salary is a large element of the compensation program because it fairly compensates individuals for fulfilling their daily responsibilities and obligations. The Talent Management and Compensation Committee determined the initial 2025 base salary for the named executive officers by reviewing salary surveys from different industry groups, considering the environment of the financial industry and discussing with our legal counsel who is knowledgeable about the banking industry’s compensation for executive officers.

The base salary approved and in effect for 2025 for each named executive officer is listed on the following chart: