Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 26

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 26
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 or qualified the Penns Woods recommendation in a manner adverse to Northwest, or publicly disclosed that it intends to do so, or failed to recommend against acceptance of a tender offer or exchange offer 
 constituting an acquisition proposal that has been publicly disclosed within five (5) business days after the commencement of the tender or exchange offer, in any case whether or not permitted by the terms of the Merger Agreement;                   |

| • |     | the Penns Woods board of directors shall have recommended or endorsed an acquisition proposal or publicly                                                                                                                     
 disclosed its intention to do so, or failed to issue a press release announcing its unqualified opposition to the acquisition proposal within five (5) business days after the acquisition proposal is publicly announced; or |

| • |     | Penns Woods or its board of directors has breached its obligations related to the shareholder vote or acquisition 
 proposals in the Merger Agreement in any material respect.                                                        |

Termination by Penns Woods. Penns Woods may terminate the Merger Agreement and abandon the Merger:

| • |     | if the Penns Woods board (or a duly authorized committee thereof) has authorized acceptance of a superior                                                                                                                                               
 acquisition proposal, and Penns Woods has complied in all respects with the Merger Agreement; provided, that this right of Penns Woods to terminate the Merger Agreement is conditioned on and subject to the prior payment by Penns Woods to Northwest 
 of a termination fee (as described in THE MERGER AGREEMENT – Acquisition Proposals and Termination Fee) in accordance with the Merger Agreement. Any purported termination on these grounds shall be void and of no force or                            
 effect if Penns Woods has not have paid and Northwest has not received the termination fee; or                                                                                                                                                          |

| • |     | by written notice to Northwest if, and only if, prior to the Effective Time and during the time period specified                                                                                          
 in the Merger Agreement, the market value of Northwest common stock drops below certain pre-determined thresholds while the Nasdaq Bank Index does not; subject, however, to Northwest’s right to cure by 
 providing notice to Penns Woods that Northwest intends to proceed with the Merger by paying additional consideration.                                                                                     |

Acquisition proposals and termination fee (page 76) If the Merger Agreement is terminated by Penns Woods under certain circumstances involving alternative acquisition proposals, Penns Woods may be required to pay a termination fee to Northwest equal to $10.0 million. Risk Factors (page 18) In evaluating the Merger Agreement, the Mer