LAKE SHORE BANCORP, INC. APPOINTS DENNIS POLLACK TO BOARD (Form 8-K)

LAKE SHORE BANCORP, INC. APPOINTS DENNIS POLLACK TO BOARD

DUNKIRK, N.Y. - March 18, 2026 - Lake Shore Bancorp, Inc. (the "Company") (NASDAQ: LSBK), the holding company for Lake Shore Bank (the "Bank"), announced today that it has appointed Dennis Pollack to the Boards of Directors of the Company and the Bank, effective March 17, 2026, pursuant to the terms of a standstill agreement entered into with The Stilwell Group ("Stilwell").

Under the terms of the agreement, the Company agreed to appoint Pollack to the Company's and the Bank's Boards of Directors. The agreement will remain in effect until the 2029 Annual Meeting of Stockholders and includes customary provisions regarding standstill, voting commitments and other matters.

"We appreciate the constructive dialogue we have had with Stilwell," stated Kim C. Liddell, President, CEO, and Director. "The Board believes that the addition of Pollack strengthens our governance framework and enhances the depth of expertise in key oversight areas. We remain committed to acting in the best interests of all shareholders and continuing to execute on our strategic priorities."

Pollack added, "I look forward to working collaboratively with the Board and management team to support Lake Shore's long-term strategy and enhance shareholder value."

"We congratulate the board on the appointment of Mr. Pollack. His extensive experience as President and CEO of several banks, as well as a board member of numerous public banking institutions, will provide valuable insight and leadership as the company works to maximize shareholder value," stated Megan Parisi, Director of Communications, The Stilwell Group.

About Lake Shore

Lake Shore Bancorp is the holding company of Lake Shore Bank, a New York chartered, community-oriented financial institution headquartered in Dunkirk, New York. The Bank has ten full-service branch locations in Western New York, including four in Chautauqua County and six in Erie County. The Bank offers a broad range of retail and commercial lending and deposit services. Lake Shore Bancorp's common stock is traded on the NASDAQ Global Market as "LSBK". Additional information about Lake Shore Bancorp is available at www.mylsbank.com.