Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 84

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 84
---
 of the companies involved and other factors that could affect the companies compared to Bremer and Old National.

As a part of its investment banking business, J.P. Morgan and its affiliates are continually engaged in the valuation of businesses and their securities in connection with mergers and acquisitions, investments for passive and control purposes, negotiated underwritings, secondary distributions of listed and unlisted securities, private placements, and valuations for corporate and other purposes. J.P. Morgan was selected to advise Bremer with respect to the mergers on the basis of, among other things, such experience and its qualifications and reputation in connection with such matters and its familiarity with Bremer, Old National and the industries in which they operate.

For financial advisory services rendered in connection with the Transaction, Bremer has agreed to pay J.P. Morgan a fee of up to approximately $14.0 million, a portion of which became payable to J.P. Morgan upon delivery of its opinion, and the substantial remainder of which is contingent and payable upon the consummation of the mergers. In addition, Bremer has agreed to reimburse J.P. Morgan for its expenses incurred in connection with its services, including the fees and disbursements of counsel, and will indemnify J.P. Morgan against certain liabilities arising out of J.P. Morgan’s engagement. During the two years preceding the date of J.P. Morgan’s opinion, neither J.P. Morgan nor its affiliates have had any other material financial advisory or other material commercial or investment banking relationships with Bremer, Bremer’s

<div align='center'>50</div>

TABLE OF CONTENTS

approximately 86% shareholder (the Otto Bremer Trust) or Old National. During the two-year period preceding delivery of its opinion, the aggregate fees recognized by J.P. Morgan from Bremer were approximately $64,000, from Otto Bremer Trust were $0, and from Old National were approximately $14,000. In addition, J.P. Morgan and its affiliates hold, on a proprietary basis, less than 1% of the outstanding Old National common stock. In the ordinary course of their businesses, J.P. Morgan and its affiliates may actively trade the debt and equity securities or financial instruments (including derivatives, bank loans or other obligations) of Bremer or Old National for their own accounts or for the accounts of customers and, accordingly, may at any time hold long or short positions in such securities or other financial instruments.

### Certain Unaudited Prospective Financial Information
Old National and Bremer do