Settlement Agreement (MTEX Acquisition‑Related Matters)

On May 15, 2026, we, together with our subsidiaries AstroNova Portugal, Unipessoal, Lda. (“AstroNova Portugal”) and MTEX, entered into a settlement agreement (the “Settlement”) with Eloi Serafim Alves Ferreira, Effort Premier Solutions, Lda.(“Effort”) and Atlantiprestigio – Imobiliaria, S.A. (“Atlantiprestigio”) to resolve and release any and all claims among the parties arising out of and relating to AstroNova Portugal’s May 2024 acquisition of MTEX.

Under the terms of the Settlement, Atlantiprestigio transferred to AstroNova Portugal an industrial property located in Porto, Portugal that is currently leased by MTEX (the “Property”), and Atlantiprestigio waived its right to receive any amounts from MTEX under the lease agreement relating to the Property. For purposes of the Settlement, the parties agreed that the value of the Property is €2.5 million, ($2.9 million) at the May 15, 2026 settlement date.

Simultaneously with execution of the Settlement, we and AstroNova Portugal agreed to cause Mr. Ferreira and his spouse to be released from certain personal guarantees for loans extended to MTEX. The parties also agreed to terminate the pending arbitration proceedings in Oporto, Portugal upon completion of the definitive registration of the Property in the name of AstroNova Portugal with the applicable governmental authorities.

The Settlement includes mutual releases of claims between the parties and an agreement regarding the allocation of arbitration costs.

We are currently evaluating the accounting impact of the Settlement, including the timing of recognition and measurement of any related amounts to be included in the condensed consolidated financial statements.