ADAGIO MEDICAL HOLDINGS, INC. SPECIAL MEETING OF STOCKHOLDERS - PARK NATIONAL CORP

Explicit Guidance:

• No financial guidance (revenue, earnings, margins, capex, etc.) provided, as the meeting was a Special Stockholders Meeting focused solely on corporate governance rather than financial performance.

Business-Segment Outlook:

• No segment-specific outlooks, product line updates, or pipeline discussions provided; the meeting agenda was limited to voting on a reverse stock split mechanism.

Market and Competitive Outlook:

• Stock Listing Compliance: The Board's objective is to regain and maintain NASDAQ listing compliance by raising the per-share trading price.
• Investor Sentiment: The split is intended to generate investor interest, though management notes there is no assurance the split will achieve compliance or result in a sustained price increase.

Macro / Industry Outlook:

• No comments provided regarding broader economic conditions, interest rates, FX, regulation, or tariffs.

Strategic Initiatives:

• Reverse Stock Split: The Board is approved to effect a reverse stock split at a ratio in the range of 1 for 10 to 1 for 500, with the specific ratio to be determined at the Board's sole discretion.
• Timing: Preliminary voting results are expected to be reported via a Form 8K within four business days after the meeting; final results will be reported in an amendment to the Form 8K within four days after final votes are known.

Risks and Headwinds to Outlook:

• Compliance Uncertainty: There is no assurance that the reverse stock split will successfully achieve or maintain NASDAQ listing compliance.
• Price Volatility: No assurance is provided that the post-split trading price will rise proportionally to the reduction in the number of shares outstanding.

Management Tone on the Future:

• Cautious/Defensive: Management emphasizes acting in the best interest of shareholders while explicitly cautioning that the strategic outcome (price increase/listing maintenance) is not guaranteed.
• Transparency: Management declined to discuss further details on the "strategic process" beyond the stated objective of listing compliance.

Miscellaneous:

• Meeting Date: October 23, 2026.
• Record Date: October 5, 2026.
• Quorum: Achieved with 51.88% of shares voting.
• Proposal Outcome: The reverse stock split amendment was approved.