Company: HBAN
Filing Date: 2025-12-29
Form Type: 425
Source: 0001140361-25-046771
Chunk: 5

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-29
Form: 425
Chunk 5
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% and 12.9%, respectively.

| 6. | The disclosure on page 86 of the joint proxy statement/prospectus under the section “The Merger— Opinion of Cadence’s Financial Advisor” is hereby supplemented by adding the following 
 paragraph after the first full paragraph (beginning “The dividend discount model analysis is a widely used valuation methodology . . .”) as follows:                                    |

The ranges of discount rates assumed in the “Cadence Dividend Discount Model Analysis,” the “Huntington Dividend Discount Model Analysis” and the “Illustrative Pro Forma Combined Dividend Discount Model Analysis” of 12.0% to 14.0% in all three analyses were selected based on KBW’s experience and judgment taking into accountcapital asset pricing model implied cost of capital calculations.

| 7. | The disclosure on page 86 of the joint proxy statement/prospectus under the section “The Merger—Opinion of Cadence’s Financial Advisor” is hereby supplemented by amending and restating the 
 first sentence of the third full paragraph in its entirety as follows:                                                                                                                       |

Pursuant to the KBW engagement agreement, Cadence agreed to pay KBW a cash fee equal to 0.55% of the aggregate merger consideration which is currently estimated, based on an assumed Huntington stock price of $15.86 per share, to be a fee of approximately $42 million, $4 million of which became payable to KBW with the rendering of KBW’s opinion and the balance of which is contingent upon the closing of the Merger. CAUTION REGARDING FORWARD-LOOKING STATEMENTS This Current Report on Form 8-K may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction, the plans, objectives, expectations and intentions of Huntington Bancshares Incorporated (“Huntington”) and Cadence Bank (“Cadence”), the expected timing of completion of the transaction, and other statements that are not historical facts. Such statements are subject to numerous assumptions, risks, estimates, uncertainties and other important factors that change over time and could cause actual results to differ materially from any results, performance, or events expressed or implied by such forward-looking statements, including as a result of the factors referenced below. Statements that do not describe historical or current facts, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as expect, anticipate, continue, believe