NOTICE OF PUBLIC HEARING WITH RESPECT TO CHARTER REVENUE BONDS (SOCRATES ACADEMY PROJECT) SERIES 2026 ISSUED BY THE PUBLIC FINANCE AUTHORITY IN AN AMOUNT NOT TO EXCEED $43,000,000 Notice is hereby given that on April 30, 2026, a public hearing, as required by Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code") and NCGS 115C-218.37, will be held by the designated Hearing Officer of the Superintendent of Public Instruction of the State of North Carolina (the "Superintendent") with respect to the application of Socrates Academy Foundation, Inc. (the "Borrower"), a North Carolina nonprofit corporation and an exempt organization under Section 501(c)(3) of the Code, requesting the Public Finance Authority (the "Authority"), a commission organized under and pursuant to the provisions of Sections 66.0301, 66.0303 and 66.0304 of the Wisconsin Statutes, as amended (the "Act"), approve the following plan of finance: (1) the modification of the Authority's $31,325,000 Charter School Revenue Bonds (Socrates Academy Project), Series 2023 (the "Series 2023 Bonds"), the proceeds of which were used to (a) finance the construction, furnishing and equipping of a new high school located at 3909 Weddington Road in Matthews, North Carolina 28105 (the "Campus") consisting of an approximately 47,057 square foot two-story building with classrooms, a serving and cafeteria space, administrative office space and an approximately 10,000 square foot amphitheater; (b) finance certain other capital improvements at the Campus, including, but not limited to, improvements and upgrades to the HVAC systems at the existing buildings and construction, renovation and equipping of new athletic facilities and fields; (c) refinance a taxable interim loan made to the Borrower that (i) refinanced the outstanding principal amount of the North Carolina Capital Facilities Finance Agency's Educational Facilities Revenue Bond (Socrates Academy Project), Series 2013, (ii) financed the purchase of land adjacent to the Campus, (iii) financed certain other capital improvements at the Borrower's existing facilities, and (iv) paid certain issuance costs and expenses of the taxable interim loan; (d) fund a debt service reserve fund for the Series 2023 Bonds, and (e) pay all or a portion of the costs of issuance of the Series 2023 Bonds; (2) the issuance the Authority's charter school revenue bonds (the "Series 2026 Bonds"), issued in one or more series, issuances, and/or advances, on a tax-exempt or taxable basis, in an aggregate maximum stated principal amount not to exceed $43,000,000, the proceeds of which will be loaned to the Borrower to (a) finance (i) new capital improvements at the Campus, including the construction, furnishing and equipping of a new approximately 15,000 square foot building, which will include a multi-purpose gymnasium and six additional classrooms and (ii) additional infrastructure and site improvements on the Campus, including an outdoor track and field complex, supporting athletic facilities and an outdoor amphitheater, (b) refinance existing indebtedness incurred for the purchase of approximately 3 acres of land, including the facilities located thereon, adjacent to the Campus; (c) pay capitalized interest on the Series 2026 Bonds; (d) fund a debt service reserve fund for the Series 2026 Bonds; and (e) pay all or a portion of the costs of the issuance of the Series 2026 Bonds (collectively (1) and (2), the "Plan of Finance"). The Series 2023 Bonds were previously issued as qualified 501(c)(3) bonds as defined in Section 145 of the Code, and the Series 2023 Bonds are expected to remain so after the modifications. The Series 2026 Bonds are expected to be issued pursuant to Section 66.0304 of the Wisconsin Statutes, as amended, and one or more series of the Series 2026 Bonds are expected to be qualified 501(c)(3) bonds as defined in Section 145 of the Code. The facilities to be financed and refinanced with the proceeds of the Series 2023 Bonds and the Series 2026 Bonds will be owned by the Borrower and leased to Socrates Academy, Inc. (the "Lessee"), a North Carolina nonprofit corporation and an exempt organization under Section 501(c)(3) of the Code, for the operation of Socrates Academy. The Series 2023 Bonds, currently and as modified, and the Series 2026 Bonds are special limited obligations of the Authority payable solely from funds paid by the Borrower to the Authority and are secured by collateral furnished or caused to be furnished by the Borrower. The Series 2023 Bonds and the Series 2026 Bonds do not constitute an indebtedness, general obligation, or liability of the State of North Carolina or any county, municipal corporation or political subdivision thereof. The public hearing will be held in the Conference Room of the middle school building on the campus of Socrates Academy located at 3909 Weddington Road, Matthews, North Carolina 28105 at 11:00 a.m. (or as soon thereafter as the public hearing is held). The hearing will provide an opportunity for all interested persons to express their views, both orally and in writing, on the Plan of Finance. Any person interested in the Plan of Finance may appear and be heard or submit written comments. Any person wishing to submit written comments regarding the Plan of Finance or any matter related thereto should do so within seven (7) days after the date of publication of this notice by delivering such written comments to the Director of the Office of Charter Schools, 6301 Mail Service Center, Raleigh, NC 27699-6301. This notice is given pursuant to the provisions of Section 147 of the Code and the Act. Additional information concerning the Plan of Finance may be obtained from the Lessee at its mailing address of 3909 Weddington Road, Matthews, North Carolina 28105. Maurice Green Superintendent of Public Instruction State of North Carolina IPL0333118 Apr 22 2026