
Standard	Description	Date of adoption	Effect on the financial statements

FASB ASU 2025-05, Financial Instruments - Credit Losses (Topic 326) - Measurement of Credit Losses for Accounts Receivables and Contract Assets	The Financial Accounting Standards Board (the "FASB") issued Accounting Standard Update ("ASU") 2025-05 in July 2025, which permits entities to elect a practical expedient when accounting for current accounts receivable and current contract assets arising from transactions accounted for under Accounting Standard Update ("ASC") Topic 606, Revenue from Contracts with Customers. This practical expedient establishes that, in developing reasonable and supportable forecasts as part of estimating expected credit losses, entities assume that current conditions as of the balance sheet date do not change for the remaining life of the asset.	January 1, 2026	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption did not have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

FASB ASU 2024-04, Debt—Debt with Conversion and Other Options (Subtopic 470-20) - Induced Conversions of Convertible Debt Instruments	The FASB issued ASU 2024-04 in November 2024, which clarifies the requirements for determining whether certain settlements of convertible debt instruments should be accounted for as an induced conversion. Also it makes additional clarifications to assist stakeholders in applying the guidance. The ASU clarifies that the incorporation, elimination, or modification of a volume- weighted average price ("VWAP") formula does not automatically cause a settlement to be accounted for as an extinguishment and that the induced conversion guidance applies to a convertible debt instrument that is not currently convertible as long as it had a substantive conversion feature as of both its issuance date and the date the inducement offer is accepted.	January 1, 2026	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption did not have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

Accounting Standards Updates Not Yet Adopted


Standard	Description	Date of adoption	Effect on the financial statements
FASB ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818)	The FASB issued ASU 2026-02 in May 2026, which improves the financial accounting for and disclosure of environmental credits and environmental credit obligations. This Update provides recognition, measurement, presentation and disclosure requirements for entities that generate, purchase or receive environmental credits or have a regulatory compliance obligation that may be settled with environmental credits.	January 1, 2028	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption is not expected to have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

FASB ASU 2026-01, Equity (Topic 505) - Initial Measurement of Paid-in Kind Dividends on Equity-Classified Preferred Stock	The FASB issued ASU 2026-01 in April 2026, which establishes authoritative guidance on the initial measurement of paid-in-kind (PIK) dividends on equity-classified preferred stock. The update establishes a consistent measurement requirement for PIK dividends but does not address when such dividends should be recognized. It requires PIK dividends to be initially measured using the stated PIK dividend rate in the preferred stock agreement, generally applied to the liquidation preference of the preferred stock.	January 1, 2027	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption is not expected to have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

FASB ASU 2025-10, Government Grants (Topic 832) - Accounting for Government Grants Received by Business Entities	The FASB issued ASU 2025-10 in December 2025, which establishes the accounting for government grants received by a business entity. The update establishes recognition, measurement, and disclosure requirements for government grants. It allows asset related grants to be recognized either as deferred income or as an adjustment to the cost basis of an asset and income-related grants as deferred income.	January 1, 2029	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption is not expected to have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

FASB ASU 2025-09, Derivatives and Hedging (Topic 815) - Hedge Accounting Improvements	The FASB issued ASU 2025-09 in November 2025, which aims to improve and broaden hedge accounting under ASC Topic 815 by allowing entities to group forecasted transaction with similar risk exposures, provides a model for hedging choose-your rate debt, expands hedge accounting for forecasted purchases and sales of non financial assets, eliminates net written option limitations for certain compound derivatives, and resolves recognition mismatches in dual hedging strategies involving foreign-currency- denominated debt.	January 1, 2027	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption is not expected to have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

FASB ASU 2025-08, Financial Instruments Credit Losses (Topic 326)- Purchased Loans	The FASB issued ASU 2025-08 in November 2025, which aims to simplify and reduce the complexity of the accounting for purchased loans under ASC Topic 326. The update expands the population of loans subject to the gross-up approach to include purchased seasoned loans, regardless whether they had credit deterioration.	January 1, 2027	The amendments in this standard apply to certain transactions entered into after the effective date. Adoption is not expected to have a material impact on the consolidated financial statements. However, the applicability and magnitude will depend on the nature and extent of transactions the Corporation may enter into in future periods.


FASB ASU 2025-07, Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606) Derivatives Scope Refinements and Scope Clarification for Share Based Noncash Consideration from a Customer in a Revenue Contract	The FASB issued ASU 2025-07 in September 2025, which refines the scope of derivative accounting under ASC Topic 815 and clarifies the treatment of share-based noncash consideration under ASC Topic 606. The update reduces complexity and diversity in application. Narrows the scope of derivative accounting under ASC Topic 815 for certain contracts whose underlyings are based on a party’s own operations or activities; and clarifies that ASC Topic 606 governs share- based noncash consideration received from a customer until the entity’s right becomes unconditional.	January 1, 2027	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption is not expected to have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

FASB ASU 2025-06, Intangibles - Goodwill and Other - Internal- Use Software (Subtopic 350 40) - Targeted Improvements to the Accounting for Internal Use Software	The FASB issued ASU 2025-06 in September 2025, which seeks to modernize the accounting for internal-use software under ASC Subtopic 350-40, Intangibles— Goodwill and Other—Internal-Use Software. The update replaces the traditional stage based model (preliminary, development, post- implementation) with a principles based framework that better reflects current software development practices, including agile and cloud-based approaches.	January 1, 2028	The Corporation is currently evaluating the impact that the adoption of this guidance will have on our accounting for internal use software considering our development practices which may include agile and cloud-based approaches.

FASB ASU 2025-04, Compensation—Stock Compensation (Topic 718) and Revenue from Contracts with Customers (Topic 606) - Clarifications to Share-Based Consideration Payable to a Customer	The FASB issued ASU 2025-04 in May 2025, which clarifies the accounting for share- basedawardsgrantedas consideration payable to a customer. The ASU expands the definition of performance condition for share-based consideration under ASC Topic 718 and eliminates the forfeiture policy election for service conditions. It also confirms that the variable consideration constraint in ASC Topic 606 does not apply to such awards.	January 1, 2027	The Corporation does not currently engage in transactions within the scope of this guidance. Accordingly, adoption is not expected to have a material impact on the consolidated financial statements. Should the Corporation enter into such transactions in the future, the impact would be evaluated at that time.

FASB ASU 2025-03, Business Combinations (Topic 805) and Consolidation (Topic 810) - Determining the Accounting Acquirer in the Acquisition of a Variable Interest Entity	The FASB issued ASU 2025-03 in May 2025 which requires that an entity consider the factors in paragraphs 805-10-55-12 through 55-15 when it is involved in an acquisition transaction effected primarily by exchanging equity interests when the legal acquiree is a variable interest entity ("VIE") that meets the definition of a business to determine which entity is the accounting acquirer. This replaces the previous requirement that the primary beneficiary always is the acquirer.	January 1, 2027	The amendments in this standard apply to certain transactions entered into after the effective date. Adoption is not expected to have a material impact on the consolidated financial statements. However, the applicability and magnitude will depend on the nature and extent of transactions the Corporation may enter into in future periods.

FASB ASU 2024-03, Income Statement— Reporting Comprehensive Income —Expense Disaggregation Disclosures (Subtopic 220-40) - Disaggregation of Income Statement Expenses (As updated by ASU 2025-01)	The FASB issued ASU 2024-03 in November 2024, which requires public entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods to improve financial transparency.	For fiscal years beginning on January 1,2027 For interim periods within fiscal years beginning after January 1,2028	The Corporation is currently evaluating any impact that the adoption of this guidance will have on its financial statements and presentation and disclosures.