Improved terms reduce principal payments and improve covenant flexibility while executing on turnaround of Product Identification business

AstroNova, Inc. (Nasdaq: ALOT), a leading innovator in specialized print technology solutions, today announced that, on October 31, 2025, it executed an amendment to its existing credit agreement with Bank of America.

The amendment modifies the Company’s existing credit agreement to temporarily increase the revolving credit facility to $27.5 million from $25.0 million, extend the maturity of the revolving credit facility until August 2028, and refinance the previous term loans to a new $10 million term loan due in August 2028 and a new $9.7 million term A-2 loan due in August 2035. The amended credit facility provides for reduced quarterly debt service payments and greater covenant flexibility. The Company’s obligations under the credit facility continue to be secured by a mortgage on the Company’s real estate in West Warwick, Rhode Island. In connection with the amendment, the Company also granted a security interest in its Astro Machine facility located in Elk Grove Village, Illinois.

Thomas DeByle, Chief Financial Officer of AstroNova, said, “The new credit structure improves our cash position due to lower principal payments and, importantly, replaces our unpredictable Euro payments with fixed USD payments. The amended credit agreement allows for up to $1.5 million in add-backs to the Company’s Consolidated EBITDA (as defined in the credit agreement) for Company cash restructuring charges for determining the financial covenants. The improvement in terms also supports the necessary time needed to execute on the ongoing turnaround of our Product Identification business.”

The Company currently has $17.9 million drawn on the amended revolver. For more information, please refer to the full text of the amendment filed on Form 8-K with the Securities and Exchange Commission.

About AstroNova, Inc.

AstroNova (Nasdaq: ALOT) is a leading innovator in specialized print technology solutions. The Company designs, manufactures, distributes and services a broad range of products that acquire, store, analyze, and present data in multiple formats on a variety of media. Its strategy is to drive profitable growth through innovative new technologies, building its installed base to expand recurring revenue while strategically sourcing its aftermarket products.

The Product Identification segment provides a wide array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for OEMs, commercial printers, and brand owners for printing on paper, labels, paperboard packaging, corrugated boxes, and paper bags. The Aerospace segment is a global leader in providing products designed for airborne printing solutions, avionics, and data acquisition including flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. More information about the Company can be found at www.astronovainc.com.

Forward-Looking Statements

Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact but rather reflect our current expectations concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the Company’s anticipated performance, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, (i) the risk that our efforts to improve sales in our Product Identification segment may not result in the benefits we expect and (ii) the risk that the benefits from the amended credit facility may not be sufficient to enable the Company to complete the turnaround of its Product Identification segment and (iii) those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

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