Eagle Bancorp Montana, Inc.

Previous wording

This discussion and analysis provides information that management believes is necessary to understand Eagle's financial condition, changes in financial condition, results of operations, and cash flows for the three months ended March 31, 2026, as compared to the same period of 2025. The following should be read in conjunction with the Company's Consolidated Financial Statements, and accompanying Notes thereto, for the year ended December 31, 2025, included in Eagle's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission ("SEC") on March 9, 2026, and in conjunction with the Condensed Consolidated Financial Statements, and accompanying Notes thereto, included in Part I - Item 1. Financial Statements of this report. The results of operations for the three months ended March 31, 2026, are not necessarily indicative of the future results that may be attained for the entire year or other interim periods.

Current wording

This discussion and analysis provides information that management believes is necessary to understand Eagle's financial condition, changes in financial condition, results of operations, and cash flows for the three and six months ended June 30, 2026, as compared to the same period of 2025. The following should be read in conjunction with the Company's Consolidated Financial Statements, and accompanying Notes thereto, for the year ended December 31, 2025, included in Eagle's Annual Report on Form 10-K filed with the United States Securities and Exchange Commission ("SEC") on March 9, 2026, and in conjunction with the Condensed Consolidated Financial Statements, and accompanying Notes thereto, included in Part I - Item 1. Financial Statements of this report. The results of operations for the three and six months ended June 30, 2026, are not necessarily indicative of the future results that may be attained for the entire year or other interim periods.

Previous wording

The level and movement of interest rates impacts the Bank’s earningsas well. The Federal Open Market Committee decreased the federal funds target rate to 3.75% during the year ended December 31, 2025. The rate remained at 3.75% during the three months ended March 31, 2026.

Current wording

The level and movement of interest rates impacts the Bank’s earningsas well. The Federal Open Market Committee decreased the federal funds target rate to 3.75% during the year ended December 31, 2025. The rate remained at 3.75% during the six months ended June 30, 2026.

Previous wording

Total assets were$2.09 billion at March 31, 2026, a decrease of $14.52 million, or 0.7%, from $2.11 billion at December 31, 2025. Loans receivable, net increased by $207,000 from December 31, 2025. Securities available-for-sale decreased $6.81 million, or 2.4%, from December 31, 2025. Total liabilities were $1.90 billion at March 31, 2026, a decrease of $15.66 million, or 0.8%, from $1.91 billion at December 31, 2025. The decrease was largely due to a decrease in FHLB advances, offset by an increase in total deposits. Total borrowings decreased $11.32 million from December 31, 2025 and total deposits increased $4.48 million from December 31, 2025. Total shareholders’ equity increased $1.15 million, or 0.6%, from December 31, 2025.

Current wording

Total assets were$2.13 billion at June 30, 2026, an increase of $19.48 million, or 0.9%, from $2.11 billion at December 31, 2025. Loans receivable, net increased by $39.06 million from December 31, 2025. Securities available-for-sale increased $3.98 million, or 1.4%, from December 31, 2025. Total liabilities were $1.93 billion at June 30, 2026 an increase of $13.89 million, or 0.7%, from $1.91 billion at December 31, 2025. The increase was largely due to an increase in FHLB advances. Total borrowings increased $14.14 million from December 31, 2025 and total deposits increased $8.61 million from December 31, 2025. Total shareholders’ equity increased $5.60 million, or 2.9%, from December 31, 2025.

Previous wording

Securities available-for-sale were$274.89 million at March 31, 2026, a decrease of $6.80 million, or 2.4%from $281.69 million at December 31, 2025. The decrease was primarily due to maturity, principal payments and call activity of $3.89 million and a decrease in fair value of $2.72 million.

Current wording

Securities available-for-sale were$285.68 million at June 30, 2026, an increase of $3.99 million, or 1.4%, from $281.69 million at December 31, 2025. The increase was primarily due to purchasing activity of $15.19 million, which was partially offset by maturities, principal payments and call activity of $10.20 million.

Previous wording

Total loans, netincreased $207,000 to $1.50 billion at March 31, 2026 from $1.50 billion at December 31, 2025. The increase was largely driven by an increase in total commercial real estate loans of $7.79 million, an increase in total residential loans of $4.99 million and an increase of $1.21 million in home equity loans. The increases were largely offset by a decrease of $12.45 million in total commercial loans and a decrease of $1.27 million in consumer loans.

Current wording

Total loans increased $39.32 million to $1.56 billion at June 30, 2026 from $1.52 billion at December 31, 2025. The increase was attributable to increases in total commercial real estate loans of $21.67 million, total commercial loans of $14.48 million, total residential loans of $5.59 million, and home equity loans of $550,000. The increases were partially offset by a decrease of $2.97 million in consumer loans.

Previous wording

Total loan originations were $170.95 million for thethree months ended March 31, 2026. Total residential 1-4 family originations were $91.77 million, which includes $69.26 million of loans held-for-sale originations. Total commercial originations were $45.38 million. Total commercial real estate originations were $25.71 million. Home equity loan originations totaled $5.98 million. Consumer loan originations totaled $2.11 million. Loans held-for-sale increased by $2.45 million to $9.90 million at March 31, 2026 from $7.45 million at December 31, 2025.

Current wording

Total loan originations were $393.72 million for thesix months ended June 30, 2026. Total residential 1-4 family originations were $187.24 million, which includes $147.29 million of loans held-for-sale originations. Total commercial originations were $114.70 million. Total commercial real estate originations were $69.29 million. Home equity loan originations totaled $17.52 million. Consumer loan originations totaled $4.97 million. Loans held-for-sale increased by $8.52 million to $15.97 million at June 30, 2026 from $7.45 million at December 31, 2025.

Previous wording

Nonaccrual loans as of March 31, 2026 and December 31, 2025 include $721,000 and $460,000, respectively of acquired loans that deteriorated subsequent to the acquisition date.

Current wording

Nonaccrual loans as of June 30, 2026 and December 31, 2025 include $715,000 and $460,000, respectively of acquired loans that deteriorated subsequent to the acquisition date.

Previous wording

Commercial real estate loans made up $667.69 million or 43.9% of the Bank's total loan portfolio at March 31, 2026, compared to $635.97 million or 41.9% at December 31, 2025. The Bank's commercial real estate loans are primarily permanent loans secured by improved property such as office buildings, retail stores, commercial warehouses, and apartment buildings. The terms and conditions of each loan are tailored to the needs of the borrower and based on the financial strength of the project and any guarantors. Generally, commercial real estate loans originated by the Bank will not exceed 80.0% of the appraised value or the selling price of the property, whichever is less. The Bank's commercial real estate portfolio's average loan-to-value ratio range was 32% to 48% by property type as of March 31, 2026.

Current wording

Commercial real estate loans made up $684.38 million, or 43.9%, of the Bank's total loan portfolio at June 30, 2026, compared to $635.97 million, or 41.9%, at December 31, 2025. The Bank's commercial real estate loans are primarily permanent loans secured by improved property such as office buildings, retail stores, commercial warehouses, and apartment buildings. The terms and conditions of each loan are tailored to the needs of the borrower and based on the financial strength of the project and any guarantors. Generally, commercial real estate loans originated by the Bank will not exceed 80.0% of the appraised value or the selling price of the property, whichever is less. The Bank's commercial real estate portfolio's average loan-to-value ratio range was 31% to 48% by property type as of June 30, 2026.

Previous wording

Deposits increased by $4.48 million, or 0.3%, from December 31, 2025 to March 31, 2026. Time certificates of deposit increased by $10.61 million, savings increased by $6.34 million and money market increased by $2.50 million. These increases were partially offset by decreases in noninterest checking of $14.61 million, and interest bearing checking of $371,000.

Current wording

Deposits increased by $8.61 million, or 0.5%, from December 31, 2025 to June 30, 2026. Money market increased by $10.40 million, time certificates of deposit increased by $5.26 million and savings increased by $2.60 million. These increases were partially offset by decreases in interest-bearing checking of $5.73 million and noninterest checking of $3.92 million.

Previous wording

The estimated amount of uninsured deposits was $354.06 million, or 19.6%, of total deposits at March 31, 2026, compared to $354.59 million, or 19.5%, of total deposits at December 31, 2025.

Current wording

The Bank's estimated amount of uninsured deposits was $359.82 million, or 19.9%, of deposits including accrued interest at June 30, 2026, compared to $354.59 million, or 19.5%, at December 31, 2025.

Previous wording

Total borrowings decreased by $11.32 million, or 13.7%, to $71.15 million at March 31, 2026 from $82.47 million at December 31, 2025, due to a decrease in FHLB advances and other borrowings.

Current wording

Total borrowings increased by $14.14 million, or 17.1%, to $96.61 million at June 30, 2026 from $82.47 million at December 31, 2025, due to an increase in FHLB advances and other borrowings.

Previous wording

Total shareholders’ equity increased by $1.15 million, or 0.6%, to $192.96 million at March 31, 2026 from $191.81 million at December 31, 2025. The increase was primarily attributed to net income of $3.98 million. The increase was largely offset by an increase in unrealized losses of securities available for sale of $2.01 million and dividends paid of $1.16 million.

Current wording

Total shareholders’ equity increased by $5.60 million, or 2.9%, to $197.41 million at June 30, 2026 from $191.81 million at December 31, 2025. The increase was primarily attributed to net income of $7.70 million. The increase was partially offset by dividends paid of $2.31 million and other comprehensive loss, net of tax of $462,000.

Previous wording

Net Interest Margin ("NIM"). Net interest margin for the three months ended March 31, 2026 was 4.11%, an increase of 37 basis points compared to March 31, 2025. The increase in NIM reflects lower funding costs and improved balance sheet leverage through a favorable funding mix and reduced borrowings, with stable yields on interest‑earning assets.

Current wording

Net Interest Margin ("NIM"). Net interest margin for the three months ended June 30, 2026 was 4.15%, an increase of 24 basis points compared to the three months ended June 30, 2025. Net interest margin for the six months ended June 30, 2026 was 4.13%, an increase of 31 basis points compared to the six months ended June 30, 2025. The increase in NIM reflects lower funding costs and improved balance sheet leverage through a favorable funding mix and reduced borrowings, with stable yields on interest‑earning assets.

Previous wording

Net Income. Eagle’s net income for the three months ended March 31, 2026, was $3.98 million, compared to $3.24 million for the three months ended March 31, 2025. The increase of $745,000 was due to an increase in net interest income after provision for credit losses of $1.56 million and an increase in noninterest income of $865,000. These were partially offset by an increase in noninterest expense of $1.21 million and an increase in the provision for income taxes of $479,000. For the current period, basic earnings per common share and diluted earnings per common share were both $0.51. Basic earnings per common share and diluted earnings per common share were both $0.41 for the three months ended March 31, 2025.

Current wording

Net Income. Eagle’s net income for the three months ended June 30, 2026, was $3.72 million, compared to $3.24 million for the three months ended June 30, 2025. The increase of $478,000 was due to an increase in net interest income after provision for credit losses of $1.69 million and an increase in noninterest income of $210,000. These changes were partially offset by an increase in noninterest expense of $1.07 million and an increase in the provision for income taxes of $354,000. For the current period, basic earnings per common share and diluted earnings per common share were both $0.47. Basic and diluted earnings per common share were $0.42 and $0.41 for the three months ended June 30, 2025, respectively.

Previous wording

*Interest and Dividend Income.*Interest and dividend income was $26.22 million for the three months ended March 31, 2026, compared to $26.07 million for the three months ended March 31, 2025, an increase of $153,000, or 0.6%. Interest and fees on loans increased to $23.57 million for the three months ended March 31, 2026, from $23.32 million for the three months ended March 31, 2025. This increase of $250,000, or 1.1%, was due in part to an increase in the average yield on loans, with average loan balances remaining relatively stable, period over period. The average interest rate earned on loans receivable increased by eight basis points, from 6.19% for the three months ended March 31, 2025, to 6.27% for the current period. Interest accretion on purchased loans was $185,000 for the three months ended March 31, 2026, which resulted in a four-basis point increase in net interest margin compared to $172,000 for the three months ended March 31, 2025, which also resulted in a four-basis point increase in net interest margin. Average balances for loans receivable, including loans held-for-sale, remained relatively stable at $1.53 billion for the three months ended March 31, 2026 and 2025. Interest on investment securities available-for-sale decreased by $236,000, or 9.6%, period over period, primarily due to the decrease in average balances for investments from $293.27 million for the three months ended March 31, 2025, to $280.55 million for the three months ended March 31, 2026. In addition, average interest rates earned on investments decreased from 3.39% for the three months ended March 31, 2025, to 3.20% for the three months ended March 31, 2026.

Current wording

*Interest and Dividend Income.*Interest and dividend income was $26.61 million for the three months ended June 30, 2026, compared to $27.15 million for the three months ended June 30, 2025, a decrease of $539,000, or 2.0%. Interest and fees on loans decreased slightly to $24.09 million for the three months ended June 30, 2026, from $24.44 million for the three months ended June 30, 2025. This decrease of $354,000, or 1.4%, was largely due to a decrease in the average yield on loans, as well as marginally lower average loan balances period over period. The average interest rate earned on loans receivable decreased by seven basis points, from 6.31% for the three months ended June 30, 2025, to 6.24% for the current period. Interest accretion on purchased loans was $94,000 for the three months ended June 30, 2026, which resulted in a two-basis point increase in net interest margin compared to $607,000 for the three months ended June 30, 2025, which resulted in a 13-basis point increase in net interest margin. Average balances for loans receivable, including loans held-for-sale, remained relatively stable at $1.55 billion for the three months ended June 30, 2026 and 2025.

Previous wording

*Interest Expense.*Total interest expense was $7.52 million for the three months ended March 31, 2026, decreasing from $9.17 million for the three months ended March 31, 2025. The decrease of $1.65 million, or 18.0%, was primarily due to a decrease of $1.44 million in interest expense on total borrowings. The decrease in interest expense on total borrowings was driven by the average balance of FHLB advances and other borrowings decreasing from $138.83 million for the three months ended March 31, 2025, to $30.58 million for the three months ended March 31, 2026. The average rate paid on FHLB advances and other borrowings increased from 4.75% for the three months ended March 31, 2025, to 5.46% for the three months ended March 31, 2026 due to the payoff of lower-cost borrowings. Interest expense on deposits decreased minimally by $210,000, period over period. The overall average rate on total deposits was down from 1.67% for the three months ended March 31, 2025, compared to 1.52% for the three months ended March 31, 2026. However, the average balance for total deposits increased from $1.67 billion for the three months ended March 31, 2025, to $1.78 billion for the three months ended March 31, 2026.

Current wording

*Interest Expense. *Total interest expense was $7.47 million for the three months ended June 30, 2026, decreasing from $9.01 million for the three months ended June 30, 2025. The decrease of $1.53 million, or 17.0%, was primarily due to a decrease of $1.29 million in interest expense on total borrowings. The decrease in interest expense on total borrowings was driven by the average balance decreasing from $184.98 million for the three months ended June 30, 2025, to $74.26 million for the three months ended June 30, 2026. The average rate paid also decreased from 4.61% for the three months ended June 30, 2025, to 4.54% for the three months ended June 30, 2026. Interest expense on deposits decreased by $244,000, period over period. The average balance for total deposits increased from $1.71 billion for the three months ended June 30, 2025, to $1.78 billion for the three months ended June 30, 2026. However, the overall rate on total deposits was down from 1.62% for the three months ended June 30, 2025, compared to 1.49% for the three months ended June 30, 2026.

Previous wording

*Provision for Credit Losses.*Provision for credit losses was $279,000 for the three months ended March 31, 2026, compared to $42,000 for the three months ended March 31, 2025. The provision for credit losses for the three months ended March 31, 2026, included an increase in the provision for credit losses on loans to $109,000, and unchanged provision for unfunded commitments of $170,000.

Current wording

*Provision for Credit Losses.*Provision for credit losses was $343,000 for the three months ended June 30, 2026, compared to $1.04 million the three months ended June 30, 2025. The provision for credit losses for the three months ended June 30, 2026, included the provision for credit losses on loans of $403,000 and a recapture of the provision for unfunded commitments of $60,000. The higher provision for 2025 was largely due to loan growth.

Previous wording

*Noninterest Expense.*Noninterest expense was $18.21 million for the three months ended March 31, 2026, compared to $17.01 million for the three months ended March 31, 2025, an increase of $1.21 million, or 7.1%. The driver of the increase was salaries and employee benefits, which increased $1.15 million.

Current wording

*Noninterest Expense. *Noninterest expense was $18.99 million for the three months ended June 30, 2026, compared to $17.93 million for the three months ended June 30, 2025, an increase of $1.07 million, or 5.9%. The driver of the increase was salaries and employee benefits, which increased $1.06 million. The largest components of the increase period over period were health insurance expense, which increased $521,000, and salaries expense, which increased $309,000.

Previous wording

*Provision for Income Taxes.*Provision for income taxes was $1.11 million for the three months ended March 31, 2026, compared to $631,000 for the three months ended March 31, 2025. The effective tax rate was 21.8% for the current period compared to 16.3% for the three months ended March 31, 2025. The effective tax rate increased as the Company’s pretax earnings have increased at a faster pace than tax-exempt income.

Current wording

*Provision for Income Taxes. *Provision for income taxes was $1.11 million for the three months ended June 30, 2026, compared to $751,000 for the three months ended June 30, 2025. The effective tax rate was 22.9% for the current period compared to 18.8% for the three months ended June 30, 2025. The effective tax rate has increased as the Company’s pretax earnings increased at a faster pace than tax-exempt income.

Previous wording

*Net Interest Income.*Net interest income increased to $18.70 million for the three months ended March 31, 2026, from $16.90 million for the three months ended March 31, 2025. The increase of $1.80 million, or 10.7%, was primarily the result of a decrease in interest expense of $1.65 million.

Current wording

*Net Interest Income.*Net interest income increased to $37.84 million for the six months ended June 30, 2026, from $35.05 million for the six months ended June 30, 2025. The increase of $2.79 million, or 8.0%, was primarily the result of a decrease in interest expense of $3.18 million.

Previous wording

*Noninterest Income.*Total noninterest income was $4.88 million for the three months ended March 31, 2026, compared to $4.02 million for the three months ended March 31, 2025, an increase of $865,000, or 21.5%. This increase was primarily due to an increase of $490,000 in other noninterest income due to insurance proceeds of $484,000 received for the three months ended March 31,2026 due to smoke damage caused by a furnace fire and other damage from a windstorm. In addition, mortgage banking, net increased $309,000 to $2.43 million for the three months ended March 31, 2026, from $2.13 million for the three months ended March 31, 2025. Mortgage banking, net, includes net gain on sale of mortgage loans, which increased to $1.68 million for the three months ended March 31, 2026, compared to $1.35 million for the three months ended March 31, 2025. During the three months ended March 31, 2026, $66.08 million residential mortgage loans were sold, compared to $42.80 million in the three months ended March 31, 2025. However, gross margin levels decreased from 3.15% for the three months ended March 31, 2025, to 2.54% for the three months ended March 31, 2026.

Current wording

*Noninterest Income. *Total noninterest income was $9.90 million for the six months ended June 30, 2026, compared to $8.82 million for the six months ended June 30, 2025, an increase of $1.08 million, or 12.2%. This increase was largely due to an increase of $625,000 in other noninterest income for insurance proceeds of $488,000 received for the six months ended June 30, 2026, primarily related to smoke damage caused by a furnace fire and other damage from a windstorm. In addition, mortgage banking, net increased $303,000 to $5.35 million for the six months ended June 30, 2026, from $5.05 million for the six months ended June 30, 2025. Mortgage banking, net, includes net gain on sale of mortgage loans, which increased to $3.90 million for the six months ended June 30, 2026, compared to $3.43 million for the six months ended June 30, 2025. During the six months ended June 30, 2026, $138.59 million residential mortgage loans were sold, compared to $97.40 million in the six months ended June 30, 2025. However, gross margin levels decreased from 3.52% for the six months ended June 30, 2025, to 2.82% for the six months ended June 30, 2026.

Previous wording

The Company's available borrowing capacity was approximately $593.00 million as of March 31, 2026 and $601.00 million as of December 31, 2025.

Current wording

The Company's available borrowing capacity was approximately $575.00 million as of June 30, 2026 and $601.00 million as of December 31, 2025.

Previous wording

Brokered deposits are another source of funding the Bank may utilize from time to time. As of March 31, 2026, the Bank had no brokered certificates and $2.02 million in brokered money market deposits. As of December 31, 2025, the Bank had no brokered certificates and $3.21 million in brokered money market deposits. Policy limits for brokered deposits are set at 10% of assets.

Current wording

Brokered deposits are another source of funding the Bank may utilize from time to time. As of June 30, 2026, the Bank had no brokered certificates and $6,000 in brokered money market deposits. As of December 31, 2025, the Bank had no brokered certificates and $3.21 million in brokered money market deposits. Internal policy limits for brokered deposits are set at 10% of assets.

Previous wording

Eagle has a $15.00 million line of credit with a correspondent bank. The outstanding balance for this line of credit was $15.00 million at March 31, 2026 and December 31, 2025. The line of credit was used to finance the redemption payment for subordinated notes of $15.00 million. The line of credit has a two-year maturity and a variable interest rate equal to 0.50% below prime. The rate was 6.25% as of March 31, 2026. The draw is secured by the assets of the Company and includes certain financial covenants and negative covenants. The Company is in compliance with the covenants under the line of credit. Outstanding draws on the line impact remaining borrowing capacity for the Company’s correspondent bank lines of credit included above.

Current wording

Eagle has a $15.00 million line of credit with a correspondent bank. The line of credit was utilized during 2025 to finance the redemption payment for subordinated notes of $15.00 million. The line of credit has a two-year maturity and a variable interest rate equal to 0.50% below prime. The outstanding balance for the line of credit was $13.00 million and $15.00 million at June 30, 2026 and December 31, 2025, respectively. The rate was 6.25% as of both June 30, 2026 and December 31, 2025. Draws on the line of credit are secured by the assets of the Company and includes certain financial covenants and negative covenants. The Company is in compliance with the covenants under the line of credit. Outstanding draws on the line impact remaining borrowing capacity for the Company’s correspondent bank lines of credit included above.

Previous wording

As of March 31, 2026, the Bank’s internally determined measurement of sensitivity to interest rate movements as measured by a 200-basis point rise in interest rates scenario, increased the economic value of equity (“EVE”) by 3.2% compared to an increase of 3.4%at December 31, 2025. A 200-basis point decrease in interest rates scenario decreased EVEby 9.1% compared to a decrease of 9.3% at December 31, 2025. The Bank is within the guidelines set forth by the Board of Directors for interest rate risk sensitivity in rising interest rate scenarios.

Current wording

As of June 30, 2026, the Bank’s internally determined measurement of sensitivity to interest rate movements, as measured by a 200-basis point rise in interest rates scenario, increased the economic value of equity (“EVE”) by 2.7%, compared to an increase of 3.4% at December 31, 2025. A 200-basis point decrease in interest rates scenario decreased EVE by 8.8%, compared to a decrease of 9.3% at December 31, 2025. The Bank is within the guidelines set forth by the Board of Directors for interest rate risk sensitivity in rising interest rate scenarios.

Previous wording

The accounting and financial reporting policies of Eagle are in accordance with generally accepted accounting principles ("GAAP") and conform to the accounting and reporting guidelines prescribed by bank regulatory authorities. Eagle has identified certain of its accounting policies as “critical accounting policies,” consisting of those related to the allowance for credit losses and business combinations. In determining which accounting policies are critical in nature, Eagle has identified the policies that require significant judgment or involve complex estimates. It is management's practice to discuss critical accounting policies with the Board of Directors' Audit Committee on a periodic basis, including the development, selection, implementation, and disclosure of the critical accounting policies. The application of these policies has a significant impact on Eagle’s unaudited interim consolidated financial statements. Eagle’s financial results could differ significantly if different judgments or estimates are used in the application of these policies. All accounting policies described in "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 – Organization and Summary of Significant Accounting Policies" in Eagle’s 2025 Form 10-K, as filed with the SEC on March 9, 2026, should be reviewed for a greater understanding of how we record and report our financial performance. There have been no significant changes to the accounting policies, estimates, and assumptions, or the judgments affecting the application of these estimates and assumptions from those disclosed in Eagle’s 2025 Form 10-K.

Current wording

The accounting and financial reporting policies of Eagle are in accordance with generally accepted accounting principles ("GAAP") and conform to the accounting and reporting guidelines prescribed by bank regulatory authorities. Eagle has identified certain of its accounting policies as “critical accounting policies,” consisting of those related to the allowance for credit losses and goodwill. In determining which accounting policies are critical in nature, Eagle has identified the policies that require significant judgment or involve complex estimates. It is management's practice to discuss critical accounting policies with the Board of Directors' Audit Committee on a periodic basis, including the development, selection, implementation, and disclosure of the critical accounting policies. The application of these policies has a significant impact on Eagle’s unaudited interim consolidated financial statements. Eagle’s financial results could differ significantly if different judgments or estimates are used in the application of these policies. All accounting policies described in "Part II - Item 8. Financial Statements and Supplementary Data - Note 1 – Organization and Summary of Significant Accounting Policies" in Eagle’s 2025 Form 10-K, as filed with the SEC on March 9, 2026, should be reviewed for a greater understanding of how we record and report our financial performance. There have been no significant changes to the accounting policies, estimates, and assumptions, or the judgments affecting the application of these estimates and assumptions from those disclosed in Eagle’s 2025 Form 10-K.