Pioneer Regional School Corporation Public Hearing

NOTICE OF HEARING ON A PROPOSED AMENDMENT TO LEASE PIONEER REGIONAL SCHOOL CORPORATION You are hereby notified that a public hearing will be held before the Board of School Trustees (the “Board”) of Pioneer Regional School Corporation (the “School Corporation”) on November 10, 2026 at the hour of 6:00 p.m. (Local Time) at the School Corporation’s Administration Building, 413 Chicago Street, Royal Center, Indiana, upon a proposed Amendment to Lease (the “Amendment”) to be entered into between Pioneer School Building (the “Building Corporation”), as lessor, and the School Corporation, as lessee. The meeting will also be available to stream live from https://www.youtube.com@PioneerRegionalSchools. The proposed Amendment upon which the hearing will be held amends the existing Lease Agreement originally executed January 11, 2022 (as amended to the date hereof, the “Lease). The Amendment extends the term of the Lease and increases the rent payable thereunder in exchange for the renovation of and improvements to the property subject to the Lease (the “Leased Premises”) and other school facilities owned and operated by the School Corporation. The Amendment extends the term of the Lease from the date of the closing on the Lessor’s Ad Valorem Property Tax First Mortgage Bonds, Series 2026 (the “Bonds”) to December 31, 2048, or the final maturity of the Bonds, whichever is the first to occur, and provides for rent during renovation for an amount of up to $825,000 per payment payable on June 30 and December 31 beginning no sooner than June 30, 2027, until completion of construction, renovations and improvements. Thereafter, the Lease provides for a maximum annual rental of $1,650,000, payable on June 30 and December 31 of each year during the term of the Lease, commencing with the completion of the building or June 30, 2029, whichever is later. As additional rental, the School Corporation shall maintain insurance on the building as required in the Lease, shall pay all taxes and assessments against such property, as well as the cost of alterations and repairs, and shall pay rebate amounts to the United States Treasury, as necessary. After the sale by the Building Corporation of its Bonds to pay for the cost of the renovations and improvements, including the expenses incidental thereto, the annual rental shall be reduced to an amount equal to the multiple of $1,000 next higher than the sum of principal and interest due on such bonds in each twelve-month period ending on January 15 plus $5,000, payable in equal semiannual installments. The Lease gives an option to the School Corporation to purchase the Leased Premises on any rental payment date. The Leased Premises to be renovated pursuant to the Amendment consists of a portion of the Pioneer Junior/Senior High School located at 417 S. Chicago Street, Royal Center, Indiana 46798, which is within the School Corporation’s boundaries. The plans and estimates for the cost of said renovation, as well as a copy of the proposed Lease, are available for inspection by the public on all business days, during business hours, at the Administration Building of the School Corporation, 413 South Chicago Street, Indiana. The plans and estimates for the cost of the construction, renovations and improvements, as well as a copy of the proposed Amendment, are available for inspection by the public on all business days, during business hours, at the Administration Building of the School Corporation, 413 South Chicago Street, Indiana. At such hearing all persons interested shall have a right to be heard upon the necessity for the execution of the Amendment, and upon whether the lease rental provided for therein to be paid to the Building Corporation is a fair and reasonable rental for the proposed building. Such hearing may be adjourned to a later date or dates, and following such hearing the Board of the School Corporation may either authorize the execution of the Amendment as originally agreed upon or may make modifications therein as may be agreed upon with the Building Corporation. Dated this 30th day of September, 2026 /s/ Secretary, Board of School Trustees Pioneer Regional School Corporation