Bel Fuse realigns into two end-market segments, appoints Smelker and Dawson as presidents

BEL FUSE INC /NJ

New segments: Aerospace, Defense & Rugged Solutions (~$369M, 55% of FY25 sales) and Industrial Technology & Data Solutions (~$307M, 45%).
Tom Smelker appointed EVP President of ADRS; Steve Dawson appointed EVP President of ITDS.
Joseph Berry transitions to SVP Components, no longer an executive officer; Peter Bittner III retiring April 3, 2026.
Segment recast for FY2025 and FY2024 provided in Exhibit 99.2; no new earnings guidance issued.
ADRS FY25 revenue $368.9M (41.0% gross margin); ITDS FY25 revenue $306.6M (37.5% gross margin).

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