First Northwest Bancorp (FNWB) investor relations material

Executive summary

• The 2026 Annual Meeting will be held in person on May 19, 2026, with shareholders voting on five key proposals, including director elections and governance changes.

• The company has focused on solidifying core earnings, increasing efficiency, and data-driven decision-making following a significant transition in the prior year.

• Shareholders are encouraged to vote via internet, phone, or mail to ensure quorum and representation.

Voting matters and shareholder proposals

• Proposal 1: Election of nine directors for a one-year term.

• Proposal 2: Amend Articles of Incorporation to remove supermajority voting and allow director removal with or without cause.

• Proposal 3: Approve Amended and Restated 2020 Equity Incentive Plan, increasing share reserve and updating governance provisions.

• Proposal 4: Advisory vote on executive compensation (say-on-pay).

• Proposal 5: Ratification of Baker Tilly US, LLP as independent auditor for 2026.

Board of directors and corporate governance

• Board consists of nine members, eight of whom are independent; only the CEO is not independent.

• Committees include Audit, Compensation, Nominating and Corporate Governance, and Executive; all committee members are independent.

• Board meetings and committee attendance exceeded 90% for all directors in 2025.

• Board Chair and CEO roles are separated, with the Chair being an independent director.

• Annual board and director evaluations are conducted, and continuing education is emphasized.