Columbia Financial, Inc. Commences Firm Commitment Underwritten Offering

About this update from Columbia Financial, Inc.

FAIR LAWN, N.J., July 07, 2026 (GLOBE NEWSWIRE) -- Columbia Financial, Inc. (NASDAQ: CLBK), a Delaware corporation and the mid-tier holding company for Columbia Bank (the "Holding Company" or "Columbia"), announced today that Columbia Financial, Inc., a Maryland corporation (the "Company") and the proposed successor to the Holding Company, has commenced a firm commitment underwritten offering to sell shares of common stock not subscribed for in its second-step conversion subscription offering to the general public at $10.00 per share. Between the orders received in the subscription offering and the increased orders received in the previously announced resolicitation of maximum purchasers in the subscription offering, which concluded on June 30, 2026, the Company received approximately $1.1 billion in the subscription offering, excluding shares to be issued to Columbia Bank's employee stock ownership plan. Accordingly, the Company expects to sell in the firm commitment underwritten offering between approximately $281 million and $769 million of its common stock. Keefe, Bruyette & Woods, Inc., A Stifel Company , will serve as the lead-left book running manager, Piper Sandler & Co. will act as co-book running manager and Brean Capital, LLC will act as co-manager for the firm commitment underwritten offering. Completion of the second-step conversion remains subject to (1) the receipt of all required final regulatory approvals, including the final independent appraisal, and (2) the sale of at least 142,375,000 shares of common stock, including shares that may be issued as merger consideration to stockholders of Northfield Bancorp, Inc. ("Northfield"). About Columbia The Holding Company is a Delaware corporation organized as Columbia Bank's mid-tier stock holding company and is a majority-owned subsidiary of Columbia Bank MHC. The Company is a newly formed Maryland corporation that will be the successor to the Holding Company upon closing of the second-step conversion. Columbia Bank is a federally chartered savings bank headquartered in Fair Lawn, New Jersey that operates 70 full-service banking offices and offers traditional financial services to consumers and businesses in its market area. For more information about Columbia Bank, please visit www.columbiabankonline.com . Disclaimer and Caution About Forward-Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, which statements involve inherent risks and uncertainties. Examples of forward-looking statements include, but are not limited to, statements regarding the outlook and expectations of Columbia and Northfield, respectively, with respect to the proposed transaction, the strategic benefits and financial benefits of the proposed transaction, including the expected impact of the proposed transaction on the combined company's future financial performance (including anticipated accretion to earnings per share, the tangible book value earn-back period and other operating and return metrics), the timing of the closing of the proposed transaction, and the ability to successfully integrate the combined businesses. Such statements are often characterized by the use of qualified words (and their derivatives) such as "may," "will," "anticipate," "could," "should," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "project" and "intend," as well as words of similar meaning or other statements concerning opinions or judgment of Columbia or Northfield or their respective management about future events.

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