Company: HBAN
Filing Date: 2025-08-15
Form Type: 424B3
Source: 0001140361-25-031511
Chunk: 78

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-08-15
Form: 424B3
Chunk 78
---
     | 11.5x  |     | 11.8x   |     | 12.8x      |
| Dividend Yield                        |     | 3.2%          |     | 1.7%               |     | 2.2%   |     | 2.4%    |     | 3.1%       |
| LTM Dividend Payout Ratio             |     | 39.2% | 39.4% |     | 23.8%              |     | 25.5%  |     | 29.3%   |     | 41.4%      |

| (1) | As applicable, first metric was as of or for the 12-month period ended March 31, 2025 and second metric was based on preliminary financials provided by Veritex management as of or for the 12-month period ended June 30, 2025. |

KBW further compared the above price-to-tangible book value per share multiples, price-to-2025 estimated EPS multiples and price-to-2026 estimated EPS multiples of Veritex and the selected companies with implied transaction multiples for the proposed merger (based on the implied transaction value for the merger of $33.91 per outstanding share of Veritex common stock) of 1.53x Veritex’s tangible book value per share as of March 31, 2025, 15.4x Veritex’s estimated 2025 EPS and 14.3x Veritex’s estimated 2026 EPS.

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TABLE OF CONTENTS

No company used as a comparison in the above selected companies analysis is identical to Veritex. 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 (6) selected major exchange-traded U.S. banks with total assets between $100 billion and $250 billion. Merger targets and Northern Trust Corporation (which is focused on asset servicing and wealth management) were excluded from the selected companies. The selected companies were as follows (shown by column in descending order of total assets):

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