Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 23

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 23
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 obligations or restrictions will not have the effect of delaying the completion of any of the transactions contemplated by the Merger Agreement, imposing additional material costs on
or materially limiting the revenues of Associated following the Merger or will otherwise reduce the anticipated benefits of the Merger. In addition, there can be no assurance that any such conditions, limitations, obligations or restrictions will
not result in the delay or abandonment of the Merger. Additionally, the completion of the Merger is conditioned on the absence of laws, statutes, rules, regulations, orders, injunctions or decrees enacted, entered, promulgated or enforced by any
governmental entity of competent jurisdiction that would prohibit or make illegal the completion of any of the transactions contemplated by the Merger Agreement, including the Merger and the Bank Merger.

Despite the parties’ commitments to use their reasonable best efforts to promptly prepare and file all necessary documentation in
connection with regulatory approvals and cooperate with each other to respond to any request for information and resolve any objection that may be asserted by any governmental entity with respect to the Merger Agreement, neither Associated, American
National nor their respective subsidiaries is required under the terms of the Merger Agreement to take any action, or commit to take any action, or agree to any condition or restriction in connection with obtaining these approvals, that would,
individually or in the aggregate, reasonably be likely to have a material adverse effect on the surviving corporation and its subsidiaries, taken as a whole and considered on a scale relative to American National and its subsidiaries, after giving
effect to the Merger. For more information on the regulatory approvals required under the Merger Agreement, see the section entitled “The Merger — Regulatory Approvals.”

Certain of American National’s directors and executive officers may have interests in the Merger that may differ from, or be in addition to, the interests of American National shareholders generally.

Some of American National’s directors and executive officers may have
interests in the Merger and have arrangements that are different from, or in addition to, those of American National shareholders generally. Such interests include the appointment of Wende Kotouc to the Associated board of directors, payments in
connection with existing employment agreements with certain executive officers of American National and American National Bank, the granting of fully vested shares of American National common stock in settlement of outstanding American National
stock bonus awards, the right to indemnification and insurance coverage following the consummation of the Merger, and Associated’s entry into selected ancillary agreements in which certain persons expected to