Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 103

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 103
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 behalf the dissenting shareholder dissents) acquired such dissenting shares (or an interest in them) and to demand payment.

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TABLE OF CONTENTS

#### Demand for Payment and Deposit of Shares
In order to receive the fair value of the shares under Section 302A.473 of the MBCA, a dissenting shareholder must demand payment and deposit certificates representing certificated shares or comply with any restrictions on transfer of uncertificated shares within 30 days after the notice of procedure is given. Under Section 302A.011, subdivision 17 of the MBCA, such notice is given by Bremer when deposited in the U.S. mail with sufficient postage affixed. A dissenting shareholder who fails to timely make demand for payment and deposit certificates (or comply with any restrictions on transfer of uncertificated shares) as required by Section 302A.473, subdivision 4 of the MBCA, loses the right to receive the fair value of such dissenting shares even if such dissenting shareholder timely filed a notice of intent to demand payment under Section 302A.473, subdivision 3 of the MBCA.

#### Determination and Payment of “Fair Value”
Except as provided below, if a valid demand for payment and deposit of stock certificates is duly made by a dissenting shareholder, then after Bremer’s or the surviving entity’s receipt of such demand or the effective date of the mergers, whichever is later, the surviving entity must pay the dissenting shareholder an amount which the surviving entity estimates to be the fair value of the dissenting shares, plus interest, if any. The surviving entity will include a brief description of the method used to reach its estimate of fair value. For the purpose of a dissenting shareholder’s rights under Sections 302A.471 and 302A.473 of the MBCA, “fair value” means the value of the shares of stock immediately before the effective date of the mergers. It is possible that the fair value of shares of Bremer common stock as determined pursuant to dissenters’ rights procedures may be determined to be less than the value of the merger consideration. Additionally, “interest” means interest commencing five days after the effective date of such merger until the date of payment, calculated at the rate provided in Minnesota Statutes Section 549.09, subdivision 1, paragraph (c), clause (1), which is currently 4% simple interest per annum.

If a dissenting shareholder believes