COLONY BANKCORP, INC. SPECIAL MEETING OF SHAREHOLDERS - LEVI STRAUSS & CO

Financial Performance:

• No operational financial performance metrics (revenue, earnings, margins, cash flow) reported as the call is a Special Shareholder Meeting, not an earnings release.
• Merger consideration details: First Reliance shareholders to receive $19.75 per share in cash or 0.94 shares of Colony Bancorp common stock, valued at approximately $162.7 million in aggregate at announcement.
• Cash component capped at up to 20% of total consideration paid.
• Stock count at record date (August 19, 2026): 21,220,965 shares outstanding.

Guidance and Future Outlook:

• No forward guidance or growth outlook provided for the company's standalone operations.
• Primary forward-looking focus is the execution of the planned merger dated June 24, 2026.

Business Segments and Product Lines:

• No segment-specific performance data discussed; the sole business development topic is the acquisition of First Reliance via merger.
• No new product launches or customer agreements detailed in this specific meeting transcript.

Market and Competitive Landscape:

• No commentary provided on market trends, competitive positioning, or market share changes in this transcript.

Risks and Challenges:

• No specific risks or challenges to the business were disclosed during this procedural meeting.

Management Commentary and Tone:

• Tone was procedural and formal, focused strictly on corporate governance and voting mechanics.
• Mark Massey (Chairman) and management team (including CFO Derek Shelnut and Chief Corporate Development Officer Ed Canup) were present to facilitate the shareholder vote.
• Management expressed confidence in the merger proposal by recommending a vote in favor of the stock issuance and adjournment.

Analyst Questions and Answers:

• No analyst questions were asked during this call, as the event was a special shareholder meeting rather than an investor earnings call.
• No Q&A session occurred; the chairman invited questions, received none, and proceeded directly to voting.

Other Key Points:

• The meeting successfully voted to approve the issuance of Colony common stock for the merger with First Reliance.
• A majority of outstanding shares voted in favor of both the stock issuance proposal and the proposal to adjourn the meeting if necessary.
• Quorum was confirmed to be present both in person and by proxy.
• Meeting officially adjourned following the declaration of valid vote results by the inspector of election, Tammy Shepard.