Company: ONBPP
Filing Date: 2025-02-03
Form Type: 424B3
Source: 0001104659-25-008430
Chunk: 104

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-02-03
Form: 424B3
Chunk 104
---
 Can Find More Information” beginning on page 103.

#### Structure of the Mergers
Each of Bremer’s and Old National’s respective boards of directors have unanimously approved and adopted the merger agreement. Under the merger agreement, ONB Merger Sub will first merge with and into Bremer, with Bremer as the surviving corporation in the first step merger as a wholly-owned subsidiary of Old National. Immediately following the first step merger, and as part of a single, integrated transaction, Bremer will then merge with and into Old National, with Old National as the surviving corporation in the second step merger. Immediately following the second step merger, or at a later time as determined by Old National, Bremer’s wholly-owned banking subsidiary, Bremer Bank will merge with and into Old National’s wholly-owned banking subsidiary, Old National Bank, with Old National Bank as the surviving bank.

Prior to the consummation of the mergers, Old National and Bremer may, by mutual agreement, change the method or structure of effecting the combination of Old National and Bremer if and to the extent they both deem such change to be necessary, appropriate or desirable; provided, however that no such change may (i) alter or change the merger consideration; (ii) adversely affect the tax treatment of Bremer’s shareholders or Old National’s shareholders relating to the mergers; (iii) adversely affect the tax treatment of Bremer or Old National pursuant to the merger agreement; or (iv) materially impede or delay the consummation of the mergers in a timely manner.

<div align='center'>62</div>

TABLE OF CONTENTS

#### Merger Consideration
Pursuant to the terms and subject to the conditions set forth in the merger agreement, Bremer shareholders will receive cash and Old National common stock for each of their shares of Bremer common stock. At the effective time of the first step merger, each outstanding share of Bremer common stock (except for dissenting shares, shares of treasury stock or shares owned by Bremer, Old National or ONB Merger Sub, in each case other than shares held in trust accounts, managed accounts, mutual funds and the like, or otherwise held in a fiduciary or agency capacity that are beneficially owned by third parties, or held, directly or indirectly, as a result of debts previously contracted) will be converted into the right to receive (i) $26.22 in cash without interest and (ii) 4.182 shares of Old National common stock. No