LAKELAND INDUSTRIES INC

NFORMATION

Trading Arrangements

From time to time, members of the Company’s Board and officers of the Company may enter into Rule 10b5-1 trading plans, which allow for the purchase or sale of common stock under pre-established terms at times when directors and officers might otherwise be prevented from trading under insider trading laws or because of self-imposed blackout periods. Such trading plans are intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act and comply with the Company’s insider trading policy. During the three months ended January 31, 2026, none of the Company’s directors or officers adopted or terminated a “Rule 10b5-1 trading arrangement” or a “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408 of Regulation S-K.

Limited Waiver

As of the year ended January 31, 2026, the Company was not in compliance with certain covenants under the Amended Loan Agreement. Specifically, the Company was not in compliance with (i) Section 7.3 of the Amended Loan Agreement, which requires the Company to maintain a ratio of Funded Debt to EBITDA (as defined in the Amended Loan Agreement) not exceeding 3.50:1.00 for the fiscal year ending January 31, 2026, and (ii) Section 7.4 of the Amended Loan Agreement, which requires the Company to maintain a Basic Fixed Charge Coverage Ratio (as defined in the Amended Loan Agreement) of at least 1.20:1.00 for the fiscal year ending January 31, 2026 (clauses (i) and (ii), collectively, the “Specified Non-Compliances”).

On April 13, 2026, the Company and the Lender entered into a Limited Waiver (the “Limited Waiver”) pursuant to which the Lender provided a waiver relating to the Company’s Specified Non-Compliances for the fiscal year ended January 31, 2026. The Limited Waiver also provided for the reaffirmation of representations, warranties and covenants under the Amended Loan Agreement as is customary in connection with similar amendments of credit documents. Other than the waiver of the Specified Non-Compliances described above, the terms and conditions of the Amended Loan Agreement remain in full force and effect.

The above description of the Limited Waiver is a summary and is not complete. It is qualified in its entirety by reference to the complete text of the Limited Waiver, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ending April 30, 2026.