Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 121

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 121
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 research, private equity, placement agent, asset management and related activities. In connection with these businesses or otherwise, Evercore and its affiliates and/or its or their respective employees, as well as investment funds in which any of them may have a financial interest, may at any time, directly or indirectly, hold long or short positions and may trade or otherwise effect transactions for their own accounts or the accounts of customers, in debt or equity securities, senior loans and/or derivative products or other financial instruments of or relating to Huntington, Cadence, potential parties to the merger and/or any of their respective affiliates or persons that are competitors, customers or suppliers of Huntington or Cadence.

Huntington engaged Evercore to act as a financial advisor based on Evercore’s qualifications, experience and reputation. Evercore is an internationally recognized investment banking firm and regularly provides fairness opinions in connection with mergers and acquisitions, leveraged buyouts and valuations for corporate and other purposes.

### Opinion of Cadence’s Financial Advisor
Cadence engaged KBW to render financial advisory and investment banking services to Cadence, including an opinion to the Cadence board of directors as to the fairness, from a financial point of view, to the common stockholders of Cadence of the exchange ratio in the merger. Cadence selected KBW because KBW is a nationally recognized investment banking firm with substantial experience in transactions similar to the proposed merger and familiarity with Cadence having acted in the past as Cadence’s financial advisor. As part of its investment banking business, KBW is continually engaged in the valuation of financial services businesses and their securities in connection with mergers and acquisitions.

As part of its engagement, representatives of KBW attended the meeting of the Cadence board of directors held on October 26, 2025, at which the Cadence board of directors evaluated the proposed merger. At this meeting, KBW reviewed the financial aspects of the proposed merger and rendered to the Cadence board an opinion to the effect that, as of such date and subject to the procedures followed, assumptions made, matters considered, and qualifications and limitations on the review undertaken by KBW as set forth in its written opinion, the exchange ratio in the merger was fair, from a financial point of view, to the holders of Cadence common stock. The Cadence board of directors approved the merger agreement at such meeting.

The description of the opinion set forth herein is qualified in its entirety by reference to the full text of the opinion, which is attached as

#### Annex C
**to this document and