Notice of Public Hearing with Respect to Charter School Revenue and Refunding Bonds (Union Day School Project) Series 2026 Issued by the Public Finance Authority in an Amount Not to Exceed $33,000,000 Notice is hereby given that on March 18, 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 proposed issuance of Charter School Revenue and Refunding Bonds (Union Day School Project), Series 2026 (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 $33,000,000 by 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"). The hearing will be held in Room 120-B at the North Carolina Department of Public Instruction building located at 301 N. Wilmington Street, Raleigh, North Carolina 27601 at 10:00 a.m. (or as soon thereafter as the public hearing is held). The Bonds are expected to be issued pursuant to Section 66.0304 of the Wisconsin Statutes, as amended, and the proceeds from the sale of the Bonds will be loaned to Union Day School Foundation, Inc. (the "Borrower"), a North Carolina nonprofit corporation and an exempt organization under Section 501(c)(3) of the Code. One or more series of the Bonds are expected to be qualified 501(c)(3) bonds, as defined in Section 145 of the Code and the proceeds of the Bonds will be made available to the Borrower and used by the Borrower to, among other things: (a) refund the outstanding principal amount of the Public Finance Authority Charter School Revenue Bonds (Union Day School Project), Series 2018A (the "Series 2018A Bonds"), the proceeds of which were used, along with other available funds, to (1) refinance a portion of the taxable loan from CLI Capital to Union Day School, Inc. (the "Lessee"), a North Carolina nonprofit corporation and an exempt organization under Section 501(c)(3) of the Code, the proceeds of which were used to finance, refinance or reimburse (i) the acquisition of land located at 3000 Tilley Morris Road, Weddington, Union County, North Carolina (the "Campus"), and the existing building located thereon and (ii) the improvement, furnishing and equipping of an approximately 52,000 square foot existing building, all of which were completed prior to the date of issuance of the Series 2018A Bonds, used by the Lessee for the operation of the charter school known as Union Day School; (2) finance, refinance, or reimburse the construction, improvement, and equipping of an approximately 25,000 square foot school building to wrap around the existing building; (3) fund a debt service reserve fund; and (4) pay all or a portion of the costs of issuance (collectively, referred to herein as the "Refinanced Projects"); (b) finance new capital improvements at the Campus, including the construction, furnishing and equipping of a new approximately 26,400 square foot building, which will include a gymnasium and assembly space, eight new classrooms, bathrooms and locker rooms, and additional infrastructure and site improvements on the Campus, including additional parking (the "New Money Project" and, together with the Refinanced Projects, the "Project"); (c) fund a debt service reserve fund, if any; and (d) pay certain costs incurred in connection with the authorization and issuance of the Bonds ((a) through (d) are collectively, the "Plan of Finance"). The Project facilities to be financed and refinanced with the proceeds of the Bonds will be owned by the Borrower and leased to the Lessee for the operation of Union Day School. The Bonds are special limited obligations of the Authority payable solely from funds paid by the Lessee to the Borrower as lease payments and by the Borrower to the Authority and are secured by collateral furnished or caused to be furnished by the Borrower and the Lessee. The 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 provide an opportunity for all interested persons to express their views, both orally and in writing, on the issuance of the Bonds and the financing and/or refinancing of the Plan of Finance. Any person interested in the issuance of the Bonds may appear and be heard or submit written comments. Any person wishing to submit written comments regarding the issuance of the Bonds, the financing and/or refinancing of 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 3000 Tilley Morris Road, Weddington, NC 28104. Maurice Green Superintendent of Public Instruction State of North Carolina IPL0319040 Mar 11 2026