Note 13 – Subsequent Events

On October 1, 2026, the Company entered into a lease agreement for 379,886 square feet of warehouse space located in Georgetown, Texas, comprised of two buildings in a single business park (the “Berry Creek Warehouse”). The initial lease term is expected to commence on or about December 1, 2026 subject to customary conditions and expire April 30, 2034. The lease includes the option to renew the lease for one five-year period. The Company took possession of one building comprising 126,722 square feet beginning October 2026, allowing it to begin providing warehousing services to its largest customer. Under the terms of the agreement, the Company is obligated to make fixed lease payments of approximately $32.3 million over the lease term, plus common area maintenance charges, taxes, insurance and other variable payments. The Company is currently evaluating the accounting impact of the lease agreement, including the amount of the right-of-use asset and lease liability that will be recognized upon lease commencement under ASC 842, Leases.

Effective October 1, 2026, the Company entered into an arrangement with its largest customer whereby the Company will use the entire Berry Creek Warehouse to provide warehousing services for the customer. The seven-year term of the agreement, running from October 1, 2026 to September 30, 2033, closely aligns with the lease term and includes the potential of extensions beyond that date if both parties agree. The Company has entered into an agreement with Neovia, a related party described in more detail under Note 10 – Related Parties, whereby Neovia will provide daily management of the warehouse, operations, inventory and transportation services from the Company’s new Berry Creek Warehouse facility beginning October 1, 2026.