Company: CCNE
Filing Date: 2025-01-10
Form Type: 425
Source: 0001193125-25-004105
Chunk: 129

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-01-10
Form: 425
Chunk 129
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100M Impressia Bank is Preferred Equity Formed ERIEBANK Capital Raise of Acquisition of $60.4M Formed in Erie, PA FC Banc Corp. in Bucyrus, OH Acquisition of $85M Sub-Debt Raise Bank of Akron in Bank on Buffalo Acquisition of Lake Akron, NY is Formed in National Bank in Buffalo, NY Mentor, OH Ridge View Bank is Formed in Roanoke, VA $50M Sub-Debt Raise Source: S&P Global Market Intelligence; FactSet. Note: Market data as of 1/8/2025. 4 (1) Measured from 12/31/2005 to 9/30/2024. (2) Measured from 1/3/2005 to 1/8/2025. 2005 2010 2016 2013 2017 2020 2022

Strategic Merger with ESSA Bancorp, Inc. Strengthens CNB Financial Corporation’s Multi-State, Multi-Brand Model Expected Powerful Combined Franchise CCNE (55) (2) ESSA (20) (1) Pro Forma $6.3B + $2.2B = ~$8.3B Buffalo, NY Total Assets at Close New York Anticipated Favorable Shareholder Impacts Cleveland, OH Scranton, PA ~35% ~14% 25%+ Clearfield PA 2026E 2026E Internal GAAP Diluted Cash Diluted Rate of EPS Accretion EPS Accretion Return Allentown, PA Ohio Anticipated Southeastern PA Pennsylvania Enhanced Operating Performance (2026E) Columbus, OH Roanoke, VA ~1.3% ~16% ~56% Pro Forma Pro Forma Pro Forma ROAA ROATCE Efficiency Ratio Virginia Source: S&P Global Market Intelligence. 5 (1) Inclusive of all purchase accounting adjustments and balance sheet re-positioning. (2) Excludes the administrative branch.

Transaction Summary • Entities: CNB Financial Corporation (“CNB” or “CCNE”), ESSA Bancorp, Inc. (“ESSA”) • 100% common stock consideration; CNB to issue shares to ESSA shareholders Merger Structure & Consideration • Fixed exchange ratio of 0.8547 CNB shares for each ESSA share outstanding (1) • Aggregate merger consideration to ESSA of approximately $214 million Shareholder •