Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 52

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 52
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 |     | public disclosure of the execution of the Merger Agreement, public disclosure of the transactions contemplated by                                                                                                          
 the Merger Agreement, or actions expressly required by the Merger Agreement that are taken with the prior written consent of the other party in contemplation of the transactions contemplated by the Merger Agreement; or |

| • |     | a decline in the trading price of a party’s common stock or the failure, in and of itself, to meet earnings                                                                                                                                             
 projections or internal financial forecasts (provided that the underlying causes of such decline or failure may be taken into account in determining whether a material adverse effect has occurred unless otherwise excluded under this definition),   
 except, with respect to the first, second, third, and fourth bullets described above, to the extent that the effects of such change are disproportionately adverse to the business, properties, assets, liabilities, results of operations or financial 
 condition of such party and its subsidiaries, taken as a whole, as compared to other banks and their holding companies operating principally in the areas in which such party and its subsidiaries are located.                                         |

The representations and warranties in the Merger Agreement do not survive the effective time. Covenants and Agreements Conduct of Business Prior to the Completion of the Merger Prior to the effective time or earlier termination of the Merger Agreement, except as expressly contemplated or permitted by the Merger Agreement, required by law or as consented to in writing by Associated, American National will, and will cause its subsidiaries to, (i) conduct its business in the ordinary course in all material respects consistent with past practice and (ii) use reasonable best efforts to maintain and preserve intact its business organization relationships with employees, officers, directors, customers, depositors, suppliers, correspondent banks, and governmental entities with jurisdiction over its operations or other third parties having material business relationships and with American National or its subsidiaries. Prior to the effective time or earlier termination of the Merger Agreement, American National and Associated will not, and will cause its respective subsidiaries not to, take any action that is intended or reasonably expected to adversely affect or materially delay the ability to obtain any necessary approvals of either of the Federal Reserve Board or the OCC 38

that is required for the transactions contemplated by the Merger Agreement or result in any of the conditions precedent to the Merger not being satisfied, except as may be required by applicable law. In addition, prior to the effective time or earlier termination of the Merger Agreement, except as expressly contemplated or permitted by the Merger Agreement, required by applicable