Company: HBAN
Filing Date: 2025-07-21
Form Type: S-4
Source: 0001140361-25-026508
Chunk: 69

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-07-21
Form: S-4
Chunk 69
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 the Veritex board an opinion, which was initially rendered verbally and subsequently confirmed in a written opinion, dated July 13, 2025, to the effect that, as of such date and subject to the procedures followed, assumptions made, matters considered, and qualifications and limitations on the review undertaken by KBW as set forth in its written opinion, the exchange ratio in the proposed merger was fair, from a financial point of view, to the holders of Veritex common stock. The Veritex board of directors approved the merger agreement at this meeting. The description of the opinion set forth herein is qualified in its entirety by reference to the full text of the opinion, which is attached as Annex Bto this document and is incorporated herein by reference, and describes the procedures followed, assumptions made, matters considered, and qualifications and limitations on the review undertaken by KBW in preparing the opinion. KBW’s opinion speaks only as of the date of the opinion. The opinion was for the information of, and was directed to, the Veritex board of directors (in its capacity as such) in connection with its consideration of the financial terms of the merger. The opinion addressed only the fairness, from a financial point of view, of the exchange ratio in the merger to the holders of Veritex common stock. It did not address the underlying business decision of Veritex to engage in the merger or enter into the mergeragreement or constitute a recommendation to the Veritex board of directors in connection with the merger, and it does not constitute a recommendation to any holder of Veritex common stock or any stockholder of any other entity as to how to vote in connection with the merger or any other matter, nor does it constitute a recommendation regarding whether or not any such shareholder or stockholder should enter into a voting, shareholders’ or affiliates’ agreement with respect to the merger. KBW’s opinion was reviewed and approved by KBW’s Fairness Opinion Committee in conformity with its policies and procedures established under the requirements of Rule 5150 of the Financial Industry Regulatory Authority. In connection with the opinion, KBW reviewed, analyzed and relied upon material bearing upon the financial and operating condition of Veritex and Huntington and bearing upon the merger, including, among other things:

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TABLE OF CONTENTS

| • | certain regulatory filings of Veritex and Huntington and their respective subsidiaries, including, as applicable, the quarterly reports on Form FR Y-9C and the quarterly call reports required to be filed (as the case may