SR Bancorp Inc. Watch

from 8-K 40 pages SR Bancorp Inc. (A Maryland Corporation) Up to 9,200,000 Shares (Subject to Increase Up to 10,580,000 Shares) Common Stock (Par Value $0.01 Per Share) Subscription Price $10.00 Per Share Agency Agreement July 13, 2023

from S-1/A 40 pages SR Bancorp Inc. (A Maryland Corporation) Up to 11,500,000 Shares (Subject to Increase Up to 13,225,000 Shares) Common Stock (Par Value $0.01 Per Share) Subscription Price $10.00 Per Share Agency Agreement [•], 2023

from S-1 8 pages This Letter Confirms the Engagement of Keefe, Bruyette & Woods, Inc. (“Kbw”) to Act as the Exclusive Financial Advisor to Somerset Savings Bank, Sla’s (The “Bank”) Proposed Conversion From the Mutual to Stock Form of Organization Pursuant to the Bank’s Proposed Plan of Conversion (The “Conversion”), Including the Offer and Sale of Certain Shares of the Common Stock (The “Common Stock”) of a Holding Company (The “Holding Company”) to Be Formed by the Bank to Eligible Persons in a Subscription Offering, With Any Remaining Shares Offered to the General Public in a Community Offering (As Defined Herein) (A Subscription Offering, a Community Offering and Any Syndicated Community Offering (As Defined Herein) Are Collectively Referred to Herein as the “Offerings”) Solely in Connection With and in Furtherance of the Acquisition Transaction (As Defined Below). in Addition, Kbw Will Act As: I) Conversion Agent and Data Processing Records Management Agent in Connection With the Offerings Pursuant to the Terms of a Separate Agreement Between the Bank and Kbw; and II) Exclusive Financial Advisor in the Acquisition of Regal Bancorp, Inc. (The “Acquisition Transaction”). the Bank and the Holding Company Are Collectively Referred to Herein as the “Company”. This Letter Sets Forth the Terms and Conditions of Our Engagement. 1. Advisory/Offering Services

from DRS 8 pages This Letter Confirms the Engagement of Keefe, Bruyette & Woods, Inc. (“Kbw”) to Act as the Exclusive Financial Advisor to Somerset Savings Bank, Sla’s (The “Bank”) Proposed Conversion From the Mutual to Stock Form of Organization Pursuant to the Bank’s Proposed Plan of Conversion (The “Conversion”), Including the Offer and Sale of Certain Shares of the Common Stock (The “Common Stock”) of a Holding Company (The “Holding Company”) to Be Formed by the Bank to Eligible Persons in a Subscription Offering, With Any Remaining Shares Offered to the General Public in a Community Offering (As Defined Herein) (A Subscription Offering, a Community Offering and Any Syndicated Community Offering (As Defined Herein) Are Collectively Referred to Herein as the “Offerings”) Solely in Connection With and in Furtherance of the Acquisition Transaction (As Defined Below). in Addition, Kbw Will Act As: I) Conversion Agent and Data Processing Records Management Agent in Connection With the Offerings Pursuant to the Terms of a Separate Agreement Between the Bank and Kbw; and II) Exclusive Financial Advisor in the Acquisition of Regal Bancorp, Inc. (The “Acquisition Transaction”). the Bank and the Holding Company Are Collectively Referred to Herein as the “Company”. This Letter Sets Forth the Terms and Conditions of Our Engagement. 1. Advisory/Offering Services