Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 250

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 250
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-66 |
| Section 11.13 |     | Specific Performance                  |     | A-66 |
| Section 11.14 |     | No Presumption Against Drafting Party |     | A-66 |
| Section 11.15 |     | Confidential Supervisory Information  |     | A-66 |
| Section 11.16 |     | Waiver of Jury Trial                  |     | A-66 |
| Exhibits      |     |                                       |     |      |
| Exhibit A     |     | Form of Voting Agreement              |     |      |
| Exhibit B     |     | Bank Plan of Merger                   |     |      |

A-iv

AGREEMENT AND PLAN OF MERGER

By and Among

NORWOOD FINANCIAL CORP,

WAYNE BANK,

PB BANKSHARES, INC.

AND

PRESENCE BANK

This AGREEMENT AND PLAN OF MERGER, dated as of the 7th day of July, 2025 (this “Agreement”), by and among Norwood Financial Corp,
a Pennsylvania corporation (“Norwood”), Wayne Bank, a Pennsylvania-chartered bank (“Wayne”), PB Bankshares, Inc., a Maryland corporation (“Bankshares”) and Presence Bank, a Pennsylvania chartered stock savings
bank (“Presence Bank”) (each, a “Party” and, collectively, the “Parties”).

WITNESSETH THAT:

WHEREAS, the Boards of Directors of Norwood and Bankshares deem it in the best interests of Norwood and Bankshares, respectively, and of their
respective shareholders, that Norwood and Bankshares enter into this Agreement pursuant to which Norwood will acquire all of the issued and outstanding shares of capital stock of Bankshares through the merger of Bankshares with and into Norwood (the
“Merger”);

WHEREAS, for U.S. federal income tax purposes, it is intended that the transaction shall qualify as a
“reorganization” within the meaning of Section 368(a) of the Code, and this Agreement is intended to be, and is adopted as, a plan of reorganization for purposes of Sections 354, 361 and 368 of the Code and within the meaning of
Treasury regulation section 1.368-2(g);

WHEREAS, Norwood owns all of the issued and outstanding
capital stock of Wayne and Bankshares owns all of the issued and outstanding capital stock of Presence Bank, and it is contemplated that, immediately following the Merger, Presence Bank