ULBI ULTRALIFE CORP

“In addition, information technology general controls (ITGC) were not operating effectively to ensure that (i) access to applications and data, including the ability to make changes, was appropriately restricted to authorized personnel, and (ii) the activities of individuals with such access were adequately monitored.”

“A material weakness has been identified because remediation efforts initiated during the year ended December 31, 2025, relating to the material weakness identified during the year ended December 31, 2024, attributable to the need for additional personnel to provide a full complement of accounting and reporting expertise had not been in place and adequately documented for a sufficient period of time to allow management to conclude that the related controls were operating effectively.”

“As a result of the material weakness identified, management has concluded that our internal control over financial reporting was not effective as of December 31, 2025.”

“Management has concluded that our disclosure control and procedures were not effective as of September 30, 2026, because of the existing material weakness in our internal control over financial reporting as described below.”