Southwest Georgia Financial Corporation Announces Location Change of Special Meeting of Shareholders To Be Held On March 27th

Staff Report From Georgia CEO

Thursday, March 26th, 2020

Southwest Georgia Financial Corporation announced notice of a change in location of its Special Meeting of Shareholders to be held on Friday, March 27, 2020 at 10:00 a.m. Eastern Time (the "Special Meeting"). In light of public health concerns regarding the coronavirus, or COVID-19, and the restriction of public gatherings of 10 or more people in Georgia, the Special Meeting has been changed to be held in a virtual meeting format only. The purpose of the Special Meeting is to consider and vote on certain proposals relating to the previously announced Agreement and Plan of Merger, dated as of December 18, 2019, by and between SGB and The First Bancshares, Inc. (Nasdaq: FBMS) ("First Bancshares"), pursuant to which SGB will merge with and into First Bancshares (the "Merger"), with First Bancshares as the surviving company.

Shareholders as of the close of business on February 12, 2020, which is the record date for the Special Meeting, can attend the virtual meeting via Further information regarding the change of location of the Special Meeting can be found in the Notice of Change of Location of Special Meeting of Shareholders filed by SGB with the Securities and Exchange Commission on March 24, 2020.

As described in the proxy statement/prospectus for the Special Meeting previously distributed, SGB shareholders are entitled to participate in and vote at the Special Meeting if they were a shareholder of record as of the close of business on February 12, 2020, or hold an appropriate legal proxy for the meeting provided by their broker, bank or other nominee. Whether or not a shareholder plans to attend the Special Meeting by virtual means, SGB urges its shareholders to vote and submit their proxy in advance of the Special Meeting by one of the methods described in the proxy statement/prospectus. The proxy card included with the proxy statement/prospectus previously distributed will not be updated to reflect the information provided above and may continue to be used to vote each shareholder’s shares in connection with the Special Meeting. If SGB shareholders have previously submitted a proxy using one of the methods described in the proxy statement/prospectus and proxy card, their vote will be counted and they do not need to submit a new proxy or vote at the Special Meeting, although SGB shareholders may change or revoke their vote by attending the Special Meeting and voting virtually or by one of the other methods described in the proxy statement/prospectus.

SGB shareholders who have questions about the proxy statement/prospectus or voting their shares should contact Alliance Advisors, which is assisting with the solicitation of proxies, at 800-574-6108.