Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 6

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 6
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 shareholders. The allocation of the mix of consideration payable to PB Bankshares shareholders in the merger will not be known until Norwood tallies the results of the cash/ stock elections made by all PB Bankshares shareholders. No guarantee can be made that you will receive the amounts of cash or stock that you elect.

| Q: | Will PB Bankshares shareholders receive the form of consideration they elect? |

A: Each PB Bankshares shareholder may not receive the form of consideration that he or she elects in the merger. The allocation procedures in the merger agreement provide that the aggregate number of shares of PB Bankshares common stock to be converted into the right to receive cash consideration will equal 20% of the outstanding shares of PB Bankshares common stock, and the number of shares to be converted into Norwood common stock will equal 80% of the outstanding PB Bankshares common stock. Pursuant to this limitation, if the aggregate number of shares with respect to which a valid cash consideration election is made is greater than 20% of the outstanding shares of PB Bankshares common stock, a pro rata portion of those shares will be converted into the right to receive Norwood common stock such that the number of shares of PB Bankshares 1

common stock converted into the cash consideration equals 20% of the total. Similarly, if the number of shares pursuant to which a valid cash consideration election is made is less than 20% of the outstanding shares of PB Bankshares common stock, first such number of shares for which no election has been made and then, if necessary, such number of shares for which a stock consideration election has been made will be converted, as necessary, into stock consideration such that the number of shares of PB Bankshares common stock to be converted into cash in the transaction does not exceed 20% of the total number of shares.

| Q: | How do PB Bankshares shareholders register their election for cash or Norwood common stock? |

A: Each PB Bankshares shareholder should complete and return an election form, along with the PB Bankshares stock certificate(s), according to the instructions included with the form. The election form and related materials associated with making the election will be mailed concurrently or shortly after the mailing of the proxy statement/prospectus. The election deadline is the date specified in the election form and is the last day on which election forms will be accepted. If you own shares of PB Bankshares common stock in “street name” through a bank, broker or other financial institution and you wish to make an election