Company: HBAN
Filing Date: 2025-11-13
Form Type: S-4
Source: 0001140361-25-041757
Chunk: 132

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-11-13
Form: S-4
Chunk 132
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37.3%  |     | 32.8%      |     | 44.4%      |

No company used as a comparison in the above selected companies analysis is identical to Cadence. Accordingly, an analysis of these results is not mathematical. Rather, it involves complex considerations and judgments concerning differences in financial and operating characteristics of the companies involved. Huntington Selected Companies Analysis. Using publicly available information, KBW compared the financial performance, financial condition and market performance of Huntington to six selected major exchange-traded U.S. banks with total assets between $100 billion and $250 billion. Merger targets and Northern Trust Corporation were excluded from the selected companies. The selected companies were as follows (shown in descending order of total assets by column):

| First Citizens BancShares, Inc. |     | M&T Bank Corporation          |
| Citizens Financial Group, Inc.  |     | KeyCorp                       |
| Fifth Third Bancorp             |     | Regions Financial Corporation |

To perform this analysis, KBW used profitability and other financial information for the MRQ or LTM periods available or as of the end of such periods and market price information as of October 24, 2025. KBW also used 2025 and 2026 EPS estimates taken from publicly available consensus “street estimates” for Huntington and the selected companies. Certain financial data presented in the tables below may not correspond to the data presented in Huntington’s historical financial statements, or the data presented under the section entitled “ The Merger—Opinion of Huntington’s Financial Advisor,” as a result of the different periods, assumptions and methods used to compute the financial data presented. KBW’s analysis showed the following concerning the financial performance of Huntington and the selected companies:

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TABLE OF CONTENTS

|                                                      |     |            |     | Selected Companies |     |        |     |            |     |            |
|                                                      |     | Huntington |     | Average            |     | Median |     | 25th       
 Percentile |     | 75th       
 Percentile |
| MRQ Core Return on Average Assets(1)                 |     | 1.19%      |     | 1.19%              |     | 1.14%  |     | 1.04%      |     | 1.38%      |
| MRQ Core Return on Average Tangible Common Equity(1) |     | 17.6%      |     | 14.9%              |     | 14.5%