Milestone Scientific, Inc. Common Stock FY 2026 Earnings Call

Good morning, and welcome to the 2026 Virtual Annual Meeting of Stockholders of Milestone Scientific Inc. Thank you all for joining us today. This meeting is being conducted in a virtual-only format via live audio webcast. Stockholders attending the meeting are in listen-only mode. However, validated stockholders may vote and submit questions during the designated portion of the meeting. At this time, it is my pleasure to introduce our Chief Executive Officer, Mr. Eric C. Hines. Thank you, and good morning, everyone.

We appreciate your participation in our 2026 annual meeting of stockholders. Hosting this meeting virtually allows to maximize attendance and accessibility for our stockholders. Fiscal year 2025 was a year of progress for Milestone Scientific. We strengthened our operational discipline, stabilized our commercial execution, brought in new talent, demanded business justification, and aligned leadership with both short-term and long-term performance objectives. As we move through 2026, we are focused on driving revenue growth, expanding market adoption of our technology platforms, developing new partnerships, controlling costs, and pursuing disciplined strategic initiatives designed to create sustainable stockholder value. We believe our performance-based equity structure reinforces our commitment to growth and accountability and ensures strong alignment between executive leadership and measurable growth milestones.

Before proceeding with the formal business of the meeting, I would like to introduce you to our Executive Chairman of the Board, Ms. Benedetta I. Casamento. Thank you, Eric, and good morning to our fellow stockholders.

It is now 9:00 A.M. Eastern Time on July 27th, 2026, and I hereby call to order the 2026 annual meeting of stockholders of Milestone Scientific Inc. The record date for determining stockholders entitled to notice of and to vote at this meeting was May 28th of 2026. Only stockholders of record at the close of business on that date are entitled to vote at this meeting. As of the record date, there were 88,449,412 shares of common stock outstanding and entitled to vote. Each share of common stock is entitled to one vote. A quorum is present for the transaction of business. Let me introduce the members of our Board of Directors. Eric C. Hines, President, Chief Executive Officer, and Director. Neal Goldman, Director. Dr. Didier Demesmin, Director.

Greg Shilling, Director. Kelly Ann Ulto, Director. Dr. Dawood Sayed, Director, and myself, Benedetta Casamento, Executive Chairman of the Board. We appreciate the service and the commitment of each member of our board. Our independent registered public accounting firm for fiscal 2026 is Grassi & Co., certified public accountants P.C. Representatives are available and will have an opportunity to speak if they wish. We will now proceed with the formal business of the meeting. The first proposal is the election of directors to serve until the 2027 annual meeting of stockholders and until their successors are duly elected and qualified. The nominees for election are Benedetta Casamento, Neal Goldman, Eric Hines, Dr. Didier Demesmin, Dr. Dawood Sayed. The board of directors recommends a vote for each of the nominees.

The second proposal is to approve an amendment to the company's Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 125 million shares to 135 million shares. The board believes this increase provides flexibility for corporate purposes, including satisfying existing equity obligations, supporting future growth initiatives, potential strategic transactions, and general corporate needs. The board recommends a vote for this proposal. The third proposal is to approve an amendment to the company's Amended and Restated 2020 Equity Incentive Plan to increase the number of shares available for issuance under the plan from 11.5 million shares to 28.75 million shares.

This amendment supports our long-term compensation strategy and includes shares reserved for performance-based restricted stock units granted under the company's 2026 performance incentive sub-plan, aligning executive incentives with revenue growth, market capitalization, and strategic acquisition milestones. The board recommends a vote for this proposal. The fourth proposal is a non-binding advisory vote to approve the compensation of the company's named executive officers as disclosed in the proxy statement. The board recommends a vote for this proposal. The fifth proposal is the ratification of the appointment of Grassi & Co., certified public accountants P.C., as the company's independent registered public accounting firm for the fiscal year ending December 31, 2026. The board recommends a vote for this proposal. The polls are now open. If you have not yet voted, please submit your vote through the virtual meeting platform. The polls are now closed.

Based on the preliminary tabulation of votes, all director nominees have been elected. The amendment to increase authorized shares to 135 million has been approved. The amendment to the 2020 Equity Incentive Plan increasing available shares to 28.75 million has been approved. The advisory vote on executive compensation has been approved. The ratification of Grassi & Co. as independent auditors for the fiscal year 2026 has been approved. Final voting results will be reported in a Form 8-K filed with the Securities and Exchange Commission. If there is no further business to come before the meeting, the 2026 annual meeting of stockholders is hereby adjourned. I will now turn the meeting back to Eric for closing remarks.

Thank you, Benedetta, and thank you to the shareholders. On behalf of our leadership team and board of directors, thank you to all of our stockholders for your continued trust and your continued support. Thank you very much. We remain focused on disciplined execution, operational excellence, and delivering sustainable long-term value. We look forward to updating you on our continued progress throughout the year, and thank you very much for joining this call, and have a wonderful day.

This concludes today's meeting. You may now disconnect.