Wayne Savings Announces 2023 Annual Meeting Voting Results

Wooster, Ohio, May 25, 2023 – On May 25, 2023, Wayne Savings Bancshares, Inc. (OTCQX: WAYN) (the “Company”) held its 2023 Annual Meeting of Stockholders (the “Annual Meeting”). The inspector of elections delivered its final report of voting results for each of the matters submitted to a vote.

Proposal 1: To elect three (3) directors to serve until the 2026 annual meeting of stockholders.

The three nominees who received a plurality of “FOR” votes are elected as directors. The final report of the inspector of elections tabulation of voting results is set forth below:

Board of Directors Nominees:

Proposal 2: To ratify the appointment of FORVIS, LLP as the Company’s independent registered public accounting firm for the year ending December 31, 2023.

According to the final report of the inspector of election tabulation of voting results, stockholders ratified the appointment of FORVIS, LLP as independent registered public accounting firm for the year ending December 31, 2023, by the votes indicated below:

President and CEO James VanSickle commented on the results, “2022 was the sixth consecutive year of record earnings for the Company and it would not have been possible without the support of our customers, shareholders, and wonderful team of community bankers.  I am thankful for your support of Wayne Savings and giving us an opportunity to make a difference in our communities.”

Executive Chair Mark R. Witmer echoed VanSickle’s appreciation for the shareholder support, and added, “We are optimistic about the future and look forward to maintaining our momentum in 2023 and beyond.  Wayne Savings’ leadership team remains committed to support our local customers and businesses meet their financial goals and pursue their dreams.  I would like to thank our shareholders for their continued involvement and confidence in Wayne Savings Bancshares, Inc.”

Forward-Looking-Statements

This release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) that reflect management’s current assumptions and estimates of future economic circumstances, industry conditions, Company performance and financial results. A variety of factors could cause the Company’s actual results and experience to differ materially from the anticipated results, including, but not limited to the factors noted in this letter and in the Management’s Discussion and Analysis in our most recent Annual Report for the year ended December 31, 2021. The forward-looking statements in this letter speak only as to the date of this release. Wayne Savings Bancshares, Inc. expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations upon which such statements are based.

Contact Information:

James R. VanSickle

President and Chief Executive Officer

(330) 264-5767