Company: NWFL
Filing Date: 2025-09-19
Form Type: S-4
Source: 0001193125-25-208580
Chunk: 182

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-09-19
Form: S-4
Chunk 182
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 for adoption by its shareholders. The PB Bankshares board of directors has recommended that its shareholders vote in favor of adopting the merger agreement and has agreed that it will not withdraw, qualify or adversely modify its recommendation to its shareholders to vote in favor of adoption of the merger agreement, except as permitted under the merger agreement in connection with an unsolicited acquisition transaction proposal after giving effect to any adjustments that may be offered by Norwood. Certain Other Covenants.The merger agreement also contains other agreements relating to the conduct of Norwood and PB Bankshares before consummation of the merger, including the following:

| • |     | PB Bankshares will cause one or more of its designated representatives to confer on a regular and frequent basis                                                                                                                               
 with representatives of Norwood and to report the general status of the ongoing operations of PB Bankshares and will promptly notify Norwood of any material change in the normal course of business or the operations or the properties of PB 
 Bankshares;                                                                                                                                                                                                                                    |

| • |     | To the extent permitted by law, Presence Bank shall promptly inform Norwood upon receiving notice of each legal, 
 administrative, arbitration or other proceeding, demand, notice, audit or investigation;                         |

| • |     | PB Bankshares will give Norwood access during normal business hours to all properties, books, contracts, 
 documents and records of PB Bankshares and Presence Bank as Norwood may reasonably request;              |

| • |     | if requested by Norwood, PB Bankshares will provide Norwood with a copy of the meeting agenda and board                                               
 informational packages in advance of any regular or special board meetings; however, PB Bankshares may redact certain information from such packages; |

| • |     | After the receipt of all regulatory approvals required for the consummation of the merger, PB Bankshares will                                                                                                                                            
 make all reasonable efforts to cause its data processing service providers to cooperate and assist Norwood in connection with its preparations for an electronic and systematic conversion after the effective time of the merger of all applicable data 
 regarding PB Bankshares to Wayne Bank’s system of electronic data processing. In addition, PB Bankshares will make reasonable arrangements                                                                                                               |

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| during normal business hours to permit personnel and representatives of Wayne Bank to train PB Bankshares’ employees in Wayne Bank’s system of electronic data processing; |

| • |     | Norwood will prepare and file the Registration Statement on Form S-4 with                                                                                                        
 the SEC in connection with the issuance of Norwood common stock in the merger (including the