Company: HBAN
Filing Date: 2025-12-01
Form Type: S-4/A
Source: 0001140361-25-043815
Chunk: 50

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-01
Form: S-4/A
Chunk 50
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. I. Adjustment to long-term debt to reflect the estimated fair value of Cadence long-term debt. J. Adjustments to shareholders’ equity consisting of the following:

| (dollars in millions)                                                         |     | Preferred Stock |     | Common Stock |     | Capital Surplus |     |   Accumulated 
         Other 
 Comprehensive 
 Income (Loss) |     | Retained 
 Earnings |
| Elimination of Cadence historical equity balances                             |     |          $(167) |     |       $(466) |     |        $(2,813) |     |          $494 |     | $(3,131) |
| Issuance of shares of Huntington common stock                                 |     |                 |     |            4 |     |           7,573 |     |               |     |          |
| Issuance of shares of Huntington preferred stock                              |     |             151 |     |              |     |                 |     |               |     |          |
| Establishment of allowance for loans and leases for non-PCD loans, net of tax |     |                 |     |              |     |                 |     |               |     |     -193 |
| Merger-related transaction fees and expenses, net of tax                      |     |                 |     |              |     |                 |     |               |     |      -79 |
| Net equity-related pro forma transaction accounting adjustments               |     |           $(16) |     |       $(462) |     |          $4,760 |     |          $494 |     | $(3,403) |

Note 5. Pro Forma Adjustments to the Unaudited Condensed Combined Income Statements The following pro forma adjustments have been reflected in the unaudited pro forma condensed combined income statements for the nine-month period ended September 30, 2025 and for the year ended December 31, 2024 to give effect as if the merger had been completed on January 1, 2024. All adjustments are based on preliminary assumptions and valuations, which are subject to change as further analysis is performed and additional information becomes available. A. Net adjustments to interest income of $320 million and $655 million for the nine-month period ended September 30, 2025 and the year ended December 31, 2024, respectively, to eliminate Cadence accretion of discounts on previously acquired loans and leases and recognize the estimated accretion of the net discount on acquired loans and leases. Pro forma