Company: CCNE
Filing Date: 2025-02-20
Form Type: S-4
Source: 0001193125-25-030821
Chunk: 204

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-02-20
Form: S-4
Chunk 204
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 your tax advisors to determine the specific tax consequences of the holding company merger, including any state, local or non-U.S.tax consequences of the holding company merger. U.S. Holders As used herein, a “U.S. holder” is a beneficial owner of ESSA common stock who or that is, for U.S. federal income tax purposes:

| • |     | an individual citizen or resident of the United States; |

| • |     | corporation (or other entity that is treated as a corporation for U.S. federal income tax purposes) that is created or organized (or treated as created or organized) in or under the laws of the United States or any state thereof or the District of Columbia; |

| • |     | an estate whose income is subject to U.S. federal income tax regardless of its source; or |

| • |     | a trust if (i) a U.S. court can exercise primary supervision over the administration of such trust and one or more U.S. persons have the authority to control all substantial decisions of the trust or (ii) it has a valid election in place to be treated as a U.S. person. |

Tax Consequences of the Holding Company Merger Generally It is a condition to the completion of the holding company merger that CNB and ESSA will receive an opinion from Hogan Lovells and Luse Gorman, respectively, to the effect that, for U.S. federal income tax purposes, the merger of ESSA with and into CNB (for purposes of this section, the “holding company merger”) will constitute a reorganization under Section 368(a) of the Code. Such opinions will be subject to customary exceptions, assumptions and qualifications, and will be based on representations made by CNB and ESSA regarding factual matters and covenants undertaken by CNB and ESSA. If any assumption or representation is inaccurate in any way, or any covenant is not complied with, the tax consequences of the holding company merger could differ from those described in the tax opinions and in this discussion. These tax opinions represent the legal judgment of counsel rendering the opinion and are not binding on the IRS or the courts. No ruling from the IRS has been or is expected to be requested in connection with the holding company merger, and there can be no assurance that the IRS would not assert, or that a court would not sustain, a position contrary to the conclusions set forth in the tax opinions. The balance of this discussion assumes, unless indicated otherwise, that the holding