Company: ONBPP
Filing Date: 2025-01-14
Form Type: S-4
Source: 0001104659-25-003488
Chunk: 41

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-14
Form: S-4
Chunk 41
---
 opinion received by the Bremer board of directors from J.P. Morgan has not been, and is not expected to be, updated to reflect any changes in circumstances that may have occurred since the date of such opinion.

The fairness opinion of J.P. Morgan was rendered to the Bremer board of directors on November 24, 2024. Changes in the operations and prospects of Bremer, general market and economic conditions and other factors which may be beyond the control of Bremer may have altered the value of Bremer and/or the value of the merger consideration to be received by Bremer shareholders in the mergers. The opinion from J.P. Morgan, dated November 24, 2024 and attached to this proxy statement/prospectus as Annex D , does not speak as of any date other than the date of such opinion.

### Risks Relating to Old National’s Business
You should read and consider risk factors specific to Old National’s business that may also affect the combined company after consummation of the mergers and your ownership of Old National common stock. These risks are described in the sections entitled “Risk Factors” in Old National’s Annual Report on Form 10-K for the year ended December 31, 2023and in other documents incorporated by reference into this proxy statement/prospectus. See “Where You Can Find More Information” for the location of information incorporated by reference into this proxy statement/prospectus.

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TABLE OF CONTENTS

### UNAUDITED PRO FORMA CONDENSED COMBINED FINANCIAL DATA

#### Introduction
The following unaudited pro forma condensed combined financial data is based on the separate historical financial statements of Old National and Bremer after giving effect to the mergers. The unaudited pro forma condensed combined financial data has been prepared in accordance with Article 11 of Regulation S-X of the SEC and should be read in conjunction with the accompanying notes.

The unaudited pro forma condensed combined balance sheet as of September 30, 2024 combines the unaudited consolidated balance sheet of Old National as of September 30, 2024 with the unaudited consolidated balance sheet of Bremer as of September 30, 2024, giving effect to adjustments that depict the accounting for the mergers and the full physical settlement of the forward sale agreements. See “Description of Old National Capital Stock — Old National Common Stock — Forward Sale Agreements” for more information on the forward sale agreements.

The unaudited pro