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May 19, 2026 ROANOKE, Va.-Virginia Transformer today announced plans to build a new 600,000 square-foot, state-of-the-art power transformer plant at the Shoals Research Airpark in Colbert County, Alabama capable of producing a wide range of power transformers – from 2 MVA up to 500MVA. This additional expansion will further expand Virginia Transformer’s long-held position of having the shortest lead times in the industry for its customers and will become the Company’s seventh facility in North America. Virginia Transformer is the number one power transformer manufacturer in North America, is US-owned, and is a Minority-owned Business Enterprise (MBE). The new advanced manufacturing plant will be built on approximately 90 acres within the Airpark and features a dedicated Norfolk Southern rail spur for shipping and supply chain needs made possible through the ‘Growing Alabama’ program; a dedicated on-site training center; digital manufacturing dashboards for management with online, a real-time portal for customers; automated warehousing to deliver material to point of use within the plant; and a design to machinery interface. Upon achieving full production, the new plant will employ 1,100 people. The design, technology and process at the new plant will be an extension of the company’s 500 kV factory in Rincon, GA,

May 6, 2026 Muscle Shoals, Ala.-The Shoals EDA was awarded $4,455,935 for site work and public infrastructure at the Shoals Research Airpark through the Growing Alabama Tax Credit Program. This grant funding will assist in the construction of a fully-functional rail spur into the Shoals Research Airpark, as well as sewer infrastructure that opens the eastern portion of the park to additional development opportunities. Of the total $20.5 million in Growing Alabama funds awarded, The Shoals received the largest Growing Alabama Credit, accounting for over 21% of total funds awarded in 2026! Prior to this award, Norfolk Southern designated The Shoals Research Airpark as a Platinum REDI Site, the top designation awarded only to select properties that meet rigorous readiness criteria. Once construction is completed, the rail spur will connect the park to Norfolk Southern’s extensive rail network further complementing the park’s appeal to future industrial development. About the Shoals EDA The Shoals Economic Development Authority (Shoals EDA) is a professional organization dedicated to economic development in Northwest Alabama, including Lauderdale and Colbert Counties. The Shoals EDA aids companies that are planning new or expanded facilities. The Authority serves as a point of contact to the network of private sector

April 13, 2026 Barton, Ala.-The Shoals area continues to develop sites primed and ready for industry. Today’s check presentation of a SEEDS Act Grant award from the Alabama Department of Commerce showcases a recent project aligned with this goal. The Shoals Economic Development Authority (Shoals EDA) has secured a $3,030,248 Site Evaluation and Economic Development Strategy (SEEDS) site development grant from the State of Alabama. This grant will be used to acquire approximately 70 acres within the Barton Riverfront Industrial Park—creating a 131-acre contiguous site. First enacted in 2023, the SEEDS Act is a grant program designed to help accelerate the development of new economic development sites across the state. The SEEDS Act addresses the need for quality industrial ready sites to ensure Alabama is ready for growth. “Northwest Alabama has always been a place of hard work and determination, and this grant is a testament to what’s possible when the state and local partners invest in the same vision,” Governor Ivey said. “By expanding the Barton Riverfront Industrial Park into a 131-acre job-ready site, we’re opening the door for the kind of industry that creates careers for Colbert County families for generations to come.” “Alabama’s SEEDS Act is doing

Secretary of the Navy Phelan, Rep. Aderholt, Rep. Rogers, Sen. Wicker, Sen. Britt, and Sen. Tuberville attend ribbon cutting of new $2.4 billion public-private facility in Cherokee, Alabama CHEROKEE, Ala., March 20, 2026 /PRNewswire/ — Hadrian, the advanced manufacturing company, today opened a new facility in Cherokee, Alabama dedicated to the U.S. Navy’s Columbia- and Virginia-class submarine programs. Secretary of the Navy John C. Phelan, Rep. Robert Aderholt (R-AL-04), Rep. Mike Rogers (R-AL-03), Sen. Roger Wicker (R-MS), Sen. Katie Britt (R-AL), and Sen. Tommy Tuberville (R-AL) attended the ribbon-cutting ceremony alongside state and local leaders. Known as Factory 4, the Cherokee facility is an advanced, highly automated manufacturing plant that will mass-produce components needed for submarine construction, including parts, assemblies, and finished products. These products have been identified by the industry as the largest drivers of submarine schedules, so increasing production allows submarines to also be produced faster. F4 will be one of three facilities producing systems for the maritime industrial base, with one of the facilities slated to be a Foundry of the Future, focused on castings and forging. The contract with the Navy is structured as a public-private partnership combining more than $1.5 billion in private capital with $900 million