BEL FUSE INC /NJ

Bel Fuse has two publicly traded classes of Common Stock with different governance and economic features. Shares of Class A Common Stock carry one vote per share, while shares of Class B Common Stock have no voting rights but are entitled to a dividend at least 5% higher than Class A and receive 5% more of any undistributed earnings, reflecting a tradeoff between voting influence and enhanced economic participation.

The Proposal, which is advisory in nature, would constitute a recommendation to Bel’s Board if approved by shareholders at the 2026 Annual Meeting and would not automatically result in Bel’s Bylaws and/or Certificate of Incorporation being amended. Further action by the Board and the shareholders (potentially including the holders of the Class B Common Stock) would be required to amend the Company's Bylaws and/or Certificate of Incorporation to give the holders of the Company's Class A Common Stock the right to convert their shares into the Company's Class B Common Stock at their option (on a share-for-share basis, or otherwise). While Bel’s Board would consider all aspects of the Proposal if it were adopted by Bel’s shareholders, the Board presently does not believe that the Proposal represents an appropriate course of action.