Company: ONBPP
Filing Date: 2025-01-29
Form Type: S-4/A
Source: 0001104659-25-007256
Chunk: 74

Company: OLD NATIONAL BANCORP /IN/
Filing Date: 2025-01-29
Form: S-4/A
Chunk 74
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 in this section are forward-looking in nature and should be read in light of the factors set forth in the section entitled “Cautionary Statement Regarding Forward-Looking Statements.”

For the reasons set forth above, the Bremer board of directors unanimously recommends that Bremer shareholders vote “FOR” the merger proposal.**

### Opinion of Bremer’s Financial Advisor
Bremer retained J.P. Morgan to act as its financial advisor in connection with the mergers. At the meeting of the Bremer board of directors on November 24, 2024, J.P. Morgan rendered its oral opinion to the Bremer board of directors, which was subsequently confirmed in writing on November 24, 2024, to the effect that, as of such date and based upon and subject to the factors and assumptions made, procedures followed, matters considered, and limitations and qualifications set forth in its opinion, the merger consideration to be paid to Bremer shareholders in the first step merger was fair, from a financial point of view, to such holders.

The full text of the written opinion of J.P. Morgan, dated November 24, 2024, which sets forth, among other things, the assumptions made, procedures followed, matters considered and qualifications and limits on the review undertaken by J.P. Morgan in rendering its fairness opinion, is attached as Annex D to this proxy statement/prospectus and is incorporated herein by reference. The summary of the opinion of J.P. Morgan set forth in this proxy statement/prospectus is qualified in its entirety by reference to the full text of such opinion. Bremer shareholders are urged to read the opinion in its entirety. J.P. Morgan’s written opinion was addressed to the Bremer board of directors (in its capacity as such) in connection with and only for the purposes of its evaluation of the mergers, was directed only to the consideration to be paid to the Bremer shareholders and did not address any other aspect of the mergers. J.P. Morgan expressed no opinion as to the fairness of the consideration to the holders of any other class of securities, creditors or other constituencies of Bremer or as to the underlying decision by Bremer to engage in the proposed mergers. The issuance of J.P. Morgan’s opinion was approved by a fairness committee of J.P. Morgan. The opinion does not constitute a recommendation to any Bremer shareholder as to how such Bremer shareholder should vote with respect to the proposed mergers or any other matter.

In arriving at its opinion, J.P. Morgan, among