DILLARD'S FEDERAL CREDIT UNION

und. Contributions : Plan contributions include the following: Basic Salary Deferral Contributions: An employee is eligible to make Basic Salary Deferral Contributions and receive Company matching contributions no later than the first business day of the second calendar week next following the calendar week that he or she has both attained age 21 and completed one year of service for eligibility. The initial one-year eligibility period begins on the date of hire and ends on the first anniversary of that date. Subsequent one-year eligibility periods are the same as the Plan year (i.e. calendar year) and begin with the start of the next Plan year beginning after the date of hire. The one year of service for eligibility is completed when the employee has worked at least 1,000 hours during suc

or expense. The benefit to which a participant is entitled is the benefit that can be provided from the participant’s vested portion of their accounts. Vesting : Participants are immediately vested in participant contributions, rollovers, dividends paid on Company stock, and the earnings or losses thereon. Vesting in the Company’s contribution portion of the participant’s accounts plus earnings or losses thereon is based on years of service, or in the event of death, disability or retirement, the participant is entitled to 100 % of his or her account balance. Matching contributions vest after a participant completes 2 or more years of service, except in the case of certain merged accounts, which were fully vested upon transfer. Nonvested balances are forfeited upon distribution of a termi

n in the Plan, then after the employee has attained age 21 or older with at least 1,000 hours of service within twelve months or any calendar year thereafter, the employee will be automatically enrolled into the Plan with a 3 % Basic Salary Deferral Contribution rate which will be in effect until the last day of the Plan year following the Plan year in which the employee was first automatically enrolled. If the participant does not make an election otherwise, their contribution rate will be increased by 1 % for each of the next three following Plan years to achieve a maximum rate of 6 %. The Plan includes a qualified automatic contribution arrangement, vesting of Company match contributions made after January 1, 2008 under a two year “cliff vesting” schedule, and a Company match formula. U

ts ​ 7,382,583 ​ 7,576,739 Total receivables ​ 145,982,036 ​ 130,760,384 ​ ​ ​ ​ ​ ​ ​ Total assets ​ 3,752,099,522 ​ 3,003,997,060 ​ ​ ​ ​ ​ ​ ​ LIABILITIES ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Administrative expenses payable ​ 59,303 ​ 45,072 Other liabilities ​ 2,356 ​ — Total liabilities ​ 61,659 ​ 45,072 ​ ​ ​ ​ ​ ​ ​ NET ASSETS AVAILABLE FOR BENEFITS ​ $ 3,752,037,863 ​ $ 3,003,951,988 ​ ​ ​ ​ ​ ​ The accompanying notes are an integral part of these financial statements. ​ ​ ​ 3 ​ Table of Contents ​ DILLARD’S, INC. INVESTMENT & EMPLOYEE STOCK OWNERSHIP PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS FOR THE YEAR ENDED DECEMBER 31, 2025 ​ ​ ​ ​ ​ ​ ADDITIONS: ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment income: ​ ​ ​ Net appreciation in fair value of investments ​ $ 874,091,760 Dividends ​ 161,198,2