PATRIOT NATIONAL BANCORP INC

If the reverse stock split is implemented, shares of issued and outstanding common stock will be automatically reclassified pursuant to the ratio determined by the Board and converted into one share of common stock, without any action on the part of stockholders. The reverse stock split will reduce the number of shares of common stock outstanding consistent with the ratio determined by the Board and is subject to the treatment of fractional shares.

The reverse stock split will not change the authorized number of shares of common stock (unless otherwise disclosed), nor will it alter the par value of the common stock, except as may be required by applicable law. Each stockholder’s percentage ownership interest in the Company will remain substantially the same, except for minor changes that may result from the elimination of fractional shares.

The reverse stock split is a mechanical adjustment and will not affect the Company’s underlying business operations, assets, liabilities, or total stockholders’ equity, except for any changes resulting from the treatment of fractional shares.

There can be no assurance that the market price of the Company’s common stock will increase in proportion to the reverse stock split ratio, that the post-split trading price will be sustained, or that the reverse stock split will result in improved liquidity or increased investor interest. In some circumstances, the liquidity of the post-split common stock may be reduced due to the decreased number of outstanding shares.