Company: HBAN
Filing Date: 2025-12-29
Form Type: 425
Source: 0001140361-25-046771
Chunk: 3

Company: HUNTINGTON BANCSHARES INC /MD/
Filing Date: 2025-12-29
Form: 425
Chunk 3
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 information in this Current Report on Form 8-K shall supersede or supplement the information contained in the joint proxy statement/prospectus. All page references are to the joint proxy statement/prospectus and terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the joint proxy statement/prospectus.

Following agreement in principle on the 2.475 exchange ratio proposed in the Huntington LOI, the parties negotiated the letter agreement between Mr. Rollins and Huntington containing the terms of Mr. Rollins’ post-merger service arrangement to be effective upon, and subject to, the closing of the Merger (as described under “The Merger —Interests of Cadence’s Directors and Executive Officers in the Merger” beginning on page 91).

| 2. | The disclosure on page 81 of the joint proxy statement/prospectus under the section “The Merger—Opinion of Cadence’s Financial Advisor” is hereby supplemented by adding the following 
 paragraph below the second table:                                                                                                                                                      |

The low and high stock price-to-tangible book value per share multiples of the selected companies in the “Cadence Selected Companies Analysis” were 0.97x and 2.39x, respectively, the low and high stock price-to-2025 estimated EPS multiples of the selected companies were 7.4x and 16.8x, respectively, and the low and high stock price-to-2026 estimated EPS multiples of the selected companies were 7.4x and 13.0x, respectively.

| 3. | The disclosure on page 82 of the joint proxy statement/prospectus under the section “The Merger—Opinion of Cadence’s Financial Advisor” is hereby supplemented by adding the following 
 paragraph below the third table:                                                                                                                                                       |

The low and high stock price-to-tangible book value per share multiples of the selected companies in the “Huntington Selected Companies Analysis” were 1.09x and 1.97x, respectively, the low and high stock price-to-2025 estimated EPS multiples of the selected companies were 10.4x and 13.5x, respectively, and the low and high stock price-to-2026 estimated EPS multiples of the selected companies were 9.5x and 12.0x, respectively.

| 4. | The disclosure on page 83 of the joint proxy statement/prospectus under the section “The Merger—Opinion of Cadence’s Financial