Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 83

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 83
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 Woods as a result of the Merger.

Tax Basis. The aggregate tax basis of the assets of Penns Woods in the hands of Northwest will be the same as the aggregate tax
basis of such assets in the hands of Penns Woods immediately prior to the Merger.

Holding Period. The holding period of the
assets of Penns Woods to be received by Northwest will include the period during which such assets were held by Penns Woods.

Exchange Solely for Northwest Common Shares

A U.S. holder of Penns Woods common stock that exchanges all of its Penns Woods common stock solely for Northwest common stock pursuant to the
Merger will not recognize gain or loss in connection with such exchange (except with respect to cash in lieu of fractional shares of Northwest common stock as discussed in more detail under “Cash in Lieu of Fractional Shares”
below). A U.S. holder’s aggregate tax basis in the Northwest common stock received in the Merger in exchange for its Penns Woods common stock (including any fractional shares deemed received by the U.S. holder under the treatment discussed
below in “Cash in Lieu of Fractional Shares”) generally will equal such U.S. holder’s aggregate tax basis in the Penns Woods common stock surrendered by such U.S. holder in the Merger. The holding period for the
Northwest common stock received by such U.S. holder in the Merger in exchange for its Penns Woods common stock (including any fractional shares deemed received by the U.S. holder under the treatment discussed below in “Cash in Lieu of Fractional Shares”) generally will include the holding period for the Penns Woods common stock exchanged therefor.

Cash in Lieu of Fractional Shares

A U.S. holder of Penns Woods common stock that receives cash in lieu of a fractional share of Northwest
common stock generally will be treated as having received such fractional share and then having received such cash in redemption of such fractional share. Gain or loss generally will be recognized based on the difference between the amount of
cash received in lieu of the fractional share and the portion of the U.S. holder’s aggregate adjusted basis in the Penns Woods common stock surrendered which is allocable to the fractional share. Subject to possible dividend treatment (as
discussed in more detail under “Possible Dividend Treatment”, below), such gain or loss generally will be long-term capital gain or loss if the U.S. holder held such stock as a capital asset at the time of the Merger and the U.S.
holder’s