Amendments to Executive Severance Benefits at FreightCar America, Inc.

FreightCar America, Inc. has amended the employment arrangements for its President and CEO, Nicholas J. Randall, and its CFO and Treasurer, Michael A. Riordan, effective September 3, 2025. The amendments modify the severance benefits payable to each executive in the event of a qualifying termination of employment following a Change in Control. Specifically, if the executive's employment is terminated without Cause or the executive resigns for Good Reason within 24 months following a Change in Control, they will receive continued base salary for 24 months (Randall) or 18 months (Riordan), two equal bonus payments based on the average of the last two annual bonuses, and continued participation in the company's group health plan for the same duration. These benefits replace any severance benefits otherwise payable under the company's Executive Severance Plan.