MUNICIPAL BONDS On or about Thursday, January 15, 2026* D.A. Davidson & Co. expects to offer: $15,000,000* Bigfork Rural Fire District, Montana General Obligation Bonds, Series 2026 Maturities*: July 1, 2027-2046 | New Issue | NOT Bank Qualified | Book-Entry Insurance: Assured Guaranty Inc. | S&P Global Ratings: Insured: AA/Underlying: "AA-" Tax-Exempt: In the opinion of Dorsey & Whitney LLP, Bond Counsel, based on existing law and assuming the accuracy of certain representations and compliance with certain covenants, interest on the Bonds (i) is excludable from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986, as amended (the "Code"), (ii) is not an item of tax preference for purposes of the federal alternative minimum tax imposed on noncorporate taxpayers by Section 55 of the Code, and (iii) is excludable from taxable income for Montana individual income tax purposes. Interest on the Bonds may, however, be taken into account in determining adjusted financial statement income for purposes of the federal alternative minimum tax imposed on applicable corporations (as defined in Section 59(k) of the Code), and is includable in the computation of income for purposes of the Montana corporate income tax and the Montana alternative corporate income tax. The Bonds are not "qualified tax-exempt obligations" within the meaning of Section 265(b)(3) of the Code. Purpose: The proceeds of the Bonds, together with other legally available funds, if any, will be used for the purpose of (i) paying the costs of designing, constructing, equipping, and furnishing on land I owned by the District a new fire station, and related improvements; (ii) if bond proceeds are available, paying the costs of repairing and/or upgrading either or both of two other District-owned fire station buildings, and related improvements; and (iii) paying the costs associated with the sale and issuance of the Bonds. Redemption*: The Bonds maturing on or after July 1, 2036* are subject to redemption at the option of the District on July 1, 2035* and on any date thereafter at a price equal to the principal amount being redeemed plus interest accrued to the date of redemption, without premium. Term Bonds, if any, will be subject to mandatory sinking fund redemption. Maturities/Interest Rates*: The Bonds will mature on July 1 of each year, with maturities in 2027 through 2046. Interest rates on the Bonds are expected to be established on or about Thursday, January 15, 2026*. Security: The Bonds are general obligations of the District payable from the proceeds of an ad valorem tax that the District will covenant to levy annually on all taxable property within the District, without limitation as to rate or amount. * Preliminary: subject to change. Please contact D.A. Davidson & Co. in advance for expected yield information. The Bonds are subject to availability and to the acceptance of an offer to purchase. This is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The offering of these securities is made only by the Official Statement, copies of which are available from D.A. Davidson & Co. (406) 752-6212 or (800) 955-2208 176 Timberwolf Parkway, Kalispell, MT 59901 D|A|DAVIDSON D.A. Davidson & Co. member SIPC and FINRA (406) 862-2101 or (888) 564-3008 201 Second St., E., Suite A, Whitefish, MT 59937 Information can be obtained by contacting any D.A. Davidson & Co. branch office. MUNICIPAL BONDS On or about Thursday , January 15 , 2026 * D.A. Davidson & Co. expects to offer : $ 15,000,000 * Bigfork Rural Fire District , Montana General Obligation Bonds , Series 2026 Maturities * : July 1 , 2027-2046 | New Issue | NOT Bank Qualified | Book - Entry Insurance : Assured Guaranty Inc. | S & P Global Ratings : Insured : AA / Underlying : " AA- " Tax - Exempt : In the opinion of Dorsey & Whitney LLP , Bond Counsel , based on existing law and assuming the accuracy of certain representations and compliance with certain covenants , interest on the Bonds ( i ) is excludable from gross income for federal income tax purposes under Section 103 of the Internal Revenue Code of 1986 , as amended ( the " Code " ) , ( ii ) is not an item of tax preference for purposes of the federal alternative minimum tax imposed on noncorporate taxpayers by Section 55 of the Code , and ( iii ) is excludable from taxable income for Montana individual income tax purposes . Interest on the Bonds may , however , be taken into account in determining adjusted financial statement income for purposes of the federal alternative minimum tax imposed on applicable corporations ( as defined in Section 59 ( k ) of the Code ) , and is includable in the computation of income for purposes of the Montana corporate income tax and the Montana alternative corporate income tax . The Bonds are not " qualified tax - exempt obligations " within the meaning of Section 265 ( b ) ( 3 ) of the Code . Purpose : The proceeds of the Bonds , together with other legally available funds , if any , will be used for the purpose of ( i ) paying the costs of designing , constructing , equipping , and furnishing on land I owned by the District a new fire station , and related improvements ; ( ii ) if bond proceeds are available , paying the costs of repairing and / or upgrading either or both of two other District - owned fire station buildings , and related improvements ; and ( iii ) paying the costs associated with the sale and issuance of the Bonds . Redemption * : The Bonds maturing on or after July 1 , 2036 * are subject to redemption at the option of the District on July 1 , 2035 * and on any date thereafter at a price equal to the principal amount being redeemed plus interest accrued to the date of redemption , without premium . Term Bonds , if any , will be subject to mandatory sinking fund redemption . Maturities / Interest Rates * : The Bonds will mature on July 1 of each year , with maturities in 2027 through 2046. Interest rates on the Bonds are expected to be established on or about Thursday , January 15 , 2026 * . Security : The Bonds are general obligations of the District payable from the proceeds of an ad valorem tax that the District will covenant to levy annually on all taxable property within the District , without limitation as to rate or amount . * Preliminary : subject to change . Please contact D.A. Davidson & Co. in advance for expected yield information . The Bonds are subject to availability and to the acceptance of an offer to purchase . This is neither an offer to sell nor a solicitation of an offer to buy any of these securities . The offering of these securities is made only by the Official Statement , copies of which are available from D.A. Davidson & Co. ( 406 ) 752-6212 or ( 800 ) 955-2208 176 Timberwolf Parkway , Kalispell , MT 59901 D | A | DAVIDSON D.A. Davidson & Co. member SIPC and FINRA ( 406 ) 862-2101 or ( 888 ) 564-3008 201 Second St. , E. , Suite A , Whitefish , MT 59937 Information can be obtained by contacting any D.A. Davidson & Co. branch office .