SECURITY FEDERAL CORP

Elliott Davis, LLC served as our independent registered public accounting firm for the year ended December 31, 2025. The Audit Committee of the Board of Directors has appointed Elliott Davis, LLC as independent registered public accounting firm for the fiscal year ending December 31, 2026. The following table sets forth the aggregate fees billed or expected to be billed to the Company by Elliott Davis, LLC for professional services rendered for the years ended December 31, 2025 and 2024.

(1) Consists of U.S. Department of Housing and Urban Development-related audit procedures.

(2) Consists of fees for preparation of the Company's tax returns, estimated payments and research.

The Audit Committee will establish general guidelines for the permissible scope and nature of any permitted non-audit services to be provided by the independent registered public accounting firm in connection with its annual review of its charter. Pre-approval may be granted by action of the full Audit Committee or by delegated authority to one or more members of the Audit Committee. If this authority is delegated, all approved non-audit services will be presented to the Audit Committee at its next meeting. In considering non-audit services, the Audit Committee or its delegate will consider various factors, including but not limited to, whether it would be beneficial to have the service provided by the independent registered public accounting firm and whether the service could compromise the independence of the independent registered public accounting firm. For the year ended December 31, 2025, the Audit Committee approved all of the services provided by Elliott Davis, LLC that were designated as audit-related fees, tax fees and all other fees as set forth in the table above.

Part IV