Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 53

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 53
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 those of Northwest;                                         |

| • |     | the Merger-related costs; |

| • |     | that the interests of certain of Penns Woods’ directors and executive officers may be different from, or in                                                                         
 addition to, the interests of Penns Woods’ other shareholders as described under the heading “Interests of Penns Woods’ Directors and Officers in the Merger” beginning on page 55; |

| • |     | the risk that the conditions included in the Merger Agreement to the parties’ obligations to complete the                                                                                                 
 Merger may not be satisfied, including the risk that necessary regulatory approvals or required Penns Woods shareholder approval might not be obtained and, as a result, the Merger may not be completed; |

| • |     | the risk of potential employee attrition and the adverse effects on business and customer relationships as a 
 result of the pending merger;                                                                                |

| • |     | that Penns Woods would be prohibited from affirmatively soliciting acquisition proposals after execution of the                                                                                                                                           
 Merger Agreement and that it would be obligated to pay to Northwest a termination fee if the Merger Agreement is terminated under certain circumstances, including in the event that Penns Woods terminates the Merger Agreement to pursue an unsolicited 
 “superior proposal” upon payment of a termination fee, which may discourage other parties potentially interested in a strategic transaction with Penns Woods from pursuing such a transaction; and                                                        |

37

| • |     | the other risks described under the heading “RISK FACTORS” beginning on page 18 and 
 “CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS” beginning on page 16.   |

The foregoing discussion of the information and factors considered by the board of directors of Penns Woods is not intended to be exhaustive, but includes the material factors considered by the board. In reaching its decision to approve the merger agreement, the merger and the other transactions contemplated by the merger agreement, the board of directors of Penns Woods did not quantify or assign any relative weights to the factors considered, and individual directors may have given different weights to different factors. The board of directors of Penns Woods considered all these factors as a whole, including discussions with, and questioning of Penns Woods’ management and Penns Woods’ independent financial and legal advisors, and overall considered the factors to be favorable to, and to support, its determination to approve the merger agreement. Penns Woods shareholders should be aware that Penns Woods’ directors and executive officers have interests