Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 147

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 147
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 by Huntington for Evercore’s use and reliance, in connection with its financial analysis and opinion as described in this joint proxy statement/prospectus in the section entitled “The Merger—Opinion of Huntington’s Financial Advisor.” The following table presents the after-tax cost savings attributable to the merger from 2026 through 2030. The cost synergies of $288 million in after-tax net income consisted of estimated after-tax cost savings equal to 30% of Cadence’s forecasted cash noninterest expenses, phased in 75% during 2026 and 100% in 2027. The cost synergies assumed a hypothetical April 1, 2026 closing date for the merger.

| ($ in millions)                      |     |  2026E |     | 2027E |     | 2028E |     | 2029E |     | 2030E |
| Cost Synergies (after-tax)           |     |   $156 |     |  $288 |     |  $298 |     |  $308 |     |  $319 |
| One-Time Merger Expenses (after-tax) |     | $(409) |     | $(30) |     |    $— |     |    $— |     |    $— |

The above forecasts make certain adjustments to the prospective financial information with respect to Huntington and Cadence on a standalone basis set forth under “Huntington Prospective Financial Information Used by Evercore” and “Cadence Prospective Financial Information Used by Evercore” to give effect to certain purchase accounting considerations and other assumptions related to the merger to derive prospective financial information with respect to Huntington after completion of the merger, which was provided to Evercore by Huntington management and approved by Huntington for Evercore’s use and reliance, in connection with its financial analysis and opinion as described in this joint proxy statement/prospectus in the section entitled “The Merger—Opinion of Huntington’s Financial Advisor.” See above in this the section for further information regarding the uncertainties underlying the synergy estimates as well as the sections entitled “Cautionary Statement Regarding Forward-Looking Statements” and “Risk Factors” beginning on pages 31and 34, respectively, for further information regarding the uncertainties and factors associated with realizing synergies in connection with the merger. General The prospective financial information was prepared separately using, in some cases, different assumptions, and the different estimates are not intended to be added together or averaged. The sum of the prospective financial information together for