Company: CCNE
Filing Date: 2025-03-03
Form Type: S-4/A
Source: 0001193125-25-044149
Chunk: 186

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-03
Form: S-4/A
Chunk 186
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 of June 30, 2025 and could be accretive to CNB’s projected earnings per share (excluding transaction expenses) for each of the calendar years 2025, 2026, 2027 and 2028. All of the results of PNC FIG Advisory’s financial impact analysis may vary materially from the actual results achieved by CNB. Other Disclosures PNC FIG Advisory, as part of its financial advisory business, is regularly engaged in the valuation of businesses and their securities in connection with mergers and acquisitions and valuations for corporate and other purposes. ESSA selected PNC FIG Advisory to act as a financial advisor and to provide a fairness opinion based on PNC FIG Advisory’s experience, including in connection with mergers and acquisitions of commercial banks and bank holding companies. ESSA has agreed to pay PNC FIG Advisory a fee for its services currently estimated to be approximately $2.6 million, a portion of which fee became payable upon delivery of PNC FIG Advisory’s opinion and a significant portion of which fee (currently estimated to be approximately $2.3 million) is contingent upon the closing of the merger. In addition, portions of PNC FIG Advisory’s fee became payable after the signing of PNC FIG Advisory’s engagement agreement and after the execution of an exclusivity agreement between ESSA and CNB. ESSA has also agreed to reimburse PNC FIG Advisory’s reasonable out-of-pocketexpenses incurred in connection with its engagement and to indemnify PNC FIG Advisory against certain liabilities arising out of the performance of its obligations under the engagement letter. PNC Capital Markets LLC is a wholly owned subsidiary of The PNC Financial Services Group, Inc. (“PNC Financial”), a large diversified financial services company. PNC Financial and its affiliates are engaged in a broad range of financial services and securities activities. PNC Financial or an affiliate (other than PNC FIG Advisory) provides, or has provided, certain financial services to ESSA Bank, CNB and CNB Bank, including, among other things, providing various commercial banking services to ESSA Bank and CNB Bank and providing 141

a 364-day revolving credit facility to CNB which has been renewed annually. PNC Capital Markets LLC and its affiliates may from time to time purchase securities from, and sell securities to, ESSA Bank and CNB Bank. In the future, PNC Financial may pursue opportunities to provide financial services to ESSA or CNB, including the provision of investment banking or other consulting