Company: HBAN
Filing Date: 2025-10-28
Form Type: 425
Source: 0001140361-25-039508
Chunk: 10

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-10-28
Form: 425
Chunk 10
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 to our value accretion model, we've talked about a lot, strong earnings, very significant growth in tangible book value per share at the high single digit to low double digit and then a top-tier return on capital, that will really be the model that we've got. Jon Glenn Arfstrom RBC Capital Markets, Research Division Investment plan was question 3 and 4 for me, but thank you guys, appreciate it. Operator Next question is coming from Erika Najarian from UBS. Erika Najarian UBS Investment Bank, Research Division Maybe I'll just ask Jon's question about the investment plan. So just -- the first part of this first question is the way you answered the question, Zach, on the ROTCE, it sounds like it's all numerator driven versus capital driven, particularly given your comments on the capital impact. Additionally, could you detail some of those investment plans, if you could? And also maybe just reassure some investors that were -- are sort of seeing the sentence that there are no branch closures, but you're getting 30% cost saves anyway?

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| spglobal.com/marketintelligence                                                                     |   |

CADENCE BANK M&A CALL OCT 27, 2025

Zachary J. Wasserman CFO & Senior EVP Yes. Maybe I'll take the first part of that and some of my colleagues may want to tack on as well here. But the investment plan that we have, and we'll come back with, obviously, in future conversations in detail on a lot more clear basis. But I would estimate to be substantive, probably on the order of 1% efficiency plow back ultimately over the longer term, Erika. And to answer your question on ROTCE. Yes, it's effectively numerator driven at this point. Our projections for capital, as I noted in the prepared remarks, at close, tangible book value per share just about 2% lower than today's level. So not significantly different and the kind of upward continued trajectory of both tangible book value per share growth but also just capital ratios generally. The kind of long-term trajectory of our capital and capital plan is really unchanged as a result of this. In fact, the earnings power of this, the higher return on capital, we think will accelerate capital generation. And I've been very, very excited about the revenue synergy opportunities. Maybe, Brant, you want to tack