Company: NWFL
Filing Date: 2025-10-08
Form Type: S-4/A
Source: 0001193125-25-234244
Chunk: 179

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-08
Form: S-4/A
Chunk 179
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 separate voting agreements between Norwood and each of the PB Bankshares directors and executive officers, which were executed concurrently with the execution of the merger agreement, the directors and executive officers of PB Bankshares have agreed:

| • |     | to vote, or cause to be voted, all of the shares over which they have sole voting power, in person or by proxy,                                                                                                                                
 (a) for approval of the merger agreement at any meeting of the PB Bankshares shareholders duly held for such purpose and (b) against any action that is intended, or could reasonably be expected, to impede, interfere with, delay, postpone, 
 or adversely affect the transactions contemplated by the Agreement, unless and until the merger agreement is terminated;                                                                                                                       |

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| • |     | they will use their reasonable efforts to cause any shares over which they share voting power to be voted in the 
 same manner as described above;                                                                                  |

| • |     | they will not, nor will they permit any entity under their control to, deposit any of the shares over which they                                                                                         
 hold or share voting power in a voting trustor subject any of the shares to any arrangement with respect to the voting of the shares, in each case in any manner inconsistent with the voting agreement; |

| • |     | they will not sell, transfer, pledge, give, hypothecate, assign or otherwise alienate or transfer, by proxy or                             
 otherwise, any shares over which they share or hold the power of disposition or any of their voting rights with respect to the shares; and |

| • |     | each PB Bankshares director (who is not an employee of Presence Bank) also agreed as part of the voting                                                                                                                                                   
 agreement, in order to support this proposed transaction, not to engage in any Competition (as defined in such agreement) with Norwood, Wayne Bank, PB Bankshares or Presence Bank or any affiliate or subsidiary of any of the foregoing for a period of 
 twelve months after the Effective Time of the Merger or six months following cessation of his or her service as a member of a regional advisory board to be established by Norwood or Wayne Bank following the Effective Time of the Merger.              |

The voting agreements were executed as a condition of Norwood’s willingness to enter into the merger agreement. On the record date, these directors and executive officers beneficially owned and had the sole power to vote an aggregate of 377,915 shares, which they have agreed to vote in favor of the merger agreement at the PB Bankshares stock