Company: CCNE
Filing Date: 2025-03-05
Form Type: 424B3
Source: 0001193125-25-047258
Chunk: 194

Company: CNB FINANCIAL CORP/PA
Filing Date: 2025-03-05
Form: 424B3
Chunk 194
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 state thereof or the District of Columbia; |

| • |     | an estate whose income is subject to U.S. federal income tax regardless of its source; or |

| • |     | a trust if (i) a U.S. court can exercise primary supervision over the administration of such trust and one                                                         
 or more U.S. persons have the authority to control all substantial decisions of the trust or (ii) it has a valid election in place to be treated as a U.S. person. |

Tax Consequences of the Holding Company Merger Generally It is a condition to the completion of the holding company merger that CNB and ESSA will receive an opinion from Hogan Lovells and Luse Gorman, respectively, to the effect that, for U.S. federal income tax purposes, the merger of ESSA with and into CNB (for purposes of this section, the “holding company merger”) will constitute a reorganization under Section 368(a) of the Code. Such opinions will be subject to customary exceptions, assumptions and qualifications, and will be based on representations made by CNB and ESSA regarding factual matters and covenants undertaken by CNB and ESSA. If any assumption or representation is inaccurate in any way, or any covenant is not complied with, the tax consequences of the holding company merger could differ from those described in the tax opinions and in this discussion. These tax opinions represent the legal judgment of counsel rendering the opinion and are not binding on the IRS or the courts. No ruling from the IRS has been or is expected to be requested in connection with the holding company merger, and there can be no assurance that the IRS would not assert, or that a court would not sustain, a position contrary to the conclusions set forth in the tax opinions. The balance of this discussion assumes, unless indicated otherwise, that the holding company merger will qualify as a reorganization. Provided the holding company merger qualifies as a reorganization within the meaning of Section 368(a) of the Code, the U.S. federal income tax consequences of the holding company merger will be as follows:

| • |     | except with respect to cash received in lieu of a fractional share of CNB common stock, no gain or loss will be                                                                                                                                       
 recognized by U.S. holders who exchange all of their ESSA common stock for CNB common stock pursuant to the holding company merger. A U.S. holder of ESSA common stock who receives cash instead of a fractional share of CNB common stock will