MNG Enterprises, Inc. → DallasNews Corp

Item 4 of the Schedule 13D is hereby amended and supplemented as follows: In response to the Board's rejection of MNG's all-cash Proposal to acquire all of the issued and outstanding shares of the Issuer's Common Stock for $16.50 per share, MNG delivered a letter (the "Second Letter") to the Board on July 31, 2025, affirming its commitment to the Proposal and expressing its desire to work collaboratively and cooperatively with the Board regarding the Proposal. The Reporting Persons may take further actions with respect to their investment if the Issuer and the Board continue to refuse to engage with the Reporting Persons or discuss the Proposal, including, without limitation, to engage in communications or discussions regarding the Proposal with other current or future shareholders of the Issuer. The foregoing description of the Second Letter is qualified in its entirety by reference to the full text of the Second Letter, a copy of which is included as Exhibit 5 to this Schedule 13D and is incorporated by reference in its entirety.