The transfer is effective at the opening of trading on Wednesday, May 13, 2026. The Company's common stock will continue to trade under its existing ticker symbol, "PVLA."

The Nasdaq Global Market has higher initial and continued listing standards than the Nasdaq Capital Market, including requirements related to financial metrics, public float, liquidity, and corporate governance. Palvella's transfer to the Nasdaq Global Market follows its satisfaction of applicable listing requirements for the higher-tier market.

No action is required by existing shareholders in connection with the transfer. Palvella will continue to comply with all applicable Nasdaq listing standards and U.S. Securities and Exchange Commission reporting requirements.