Arrow Financial Corporation (the \”Company\”) held its 2019 Annual Meeting of Shareholders on May 8, 2019. As of the record date, March 14, 2019, there were 14,468,454 shares of the Company\’s common stock outstanding and entitled to vote. The holders of 11,548,797 shares of common stock, 79.82% of the outstanding shares entitled to vote as of the record date, were represented at the meeting in person or by proxy, and this amount represented a quorum. The proposals are described in detail in the Company\’s Proxy Statement filed with the Securities and Exchange Commission on March 29, 2019. At the 2019 Annual Meeting, our shareholders (1) elected four Class C director nominees with terms expiring in 2022 to the Board of Directors, (2) approved on an advisory basis the Company\’s executive compensation, (3) approved the amendment to the Company\’s Certificate of Incorporation to Increase the Number of Authorized Shares of Common Stock from 20,000,000 to 30,000,000 and (4) ratified the selection of the independent registered public accounting firm, KPMG LLP, as our independent auditor for the fiscal year ending December 31, 2019.

The matters acted upon at the Annual Meeting, and the voting tabulation for each matter, are as follows:

2. The approval, on an advisory basis, of the Company’s executive compensation.

3. The approval of the amendment to the Company\’s Certificate of Incorporation to Increase the Number of Authorized Shares of Common Stock from 20,000,000 to 30,000,000.

4. The ratification of the selection of the independent registered public accounting firm, KPMG LLP, as the Company\’s independent auditor for the fiscal year ending December 31, 2019.

About ARROW FINANCIAL CORPORATION (NASDAQ:AROW)

Arrow Financial Corporation (Arrow) is a bank holding company. The Company’s banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and Saratoga National Bank and Trust Company (Saratoga National). It operates in community banking industry segment. The Company’s business consists primarily of the ownership, supervision and control of its approximately two banks. It provides advisory and administrative services and coordinates the general policies and operation of the banks. The Company offers a range of commercial and consumer banking, and financial products. Its deposit base consists of deposits derived from the communities it serves. Through its banks’ trust operations, the Company provides retirement planning, trust and estate administration services for individuals, and pension, profit-sharing and employee benefit plan administration for corporations.