Company: NWFL
Filing Date: 2025-10-28
Form Type: 424B3
Source: 0001193125-25-252482
Chunk: 147

Company: NORWOOD FINANCIAL CORP
Filing Date: 2025-10-28
Form: 424B3
Chunk 147
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’s cash election shares will be converted into stock election shares                                                                                                                                              
 so that the remaining number of cash election shares (together with any dissenting shares) equals 20% of the outstanding PB Bankshares shares, the converted stock election shares will be converted into the right to receive the stock consideration, 
 and the remaining cash election shares will be converted in the right to receive the cash consideration.                                                                                                                                                |

If the number of cash election shares equals 20% of the outstanding PB Bankshares shares, then all cash election shares will be converted into the right to receive the cash consideration and all stock election shares and non-electionshares will be converted into the right to the stock consideration. Exchange Procedures The election form and related materials associated with making the election will be mailed concurrently or shortly after the mailing of the proxy statement/prospectus to PB Bankshares shareholders who hold shares of PB Bankshares common stock in registered form. If you wish to make an election with respect to any of your shares, 97

you must submit an election form and transmittal materials and the certificates which represent your election shares to the exchange agent prior to the election deadline. Do not submit your stock certificates with your proxy card. You should only submit your stock certificates which represent your election shares with your properly completed election form and transmittal materials.

Exchange Agent.On the business day immediately prior to the effective time of the merger, Norwood will deliver or cause to be
delivered to the exchange agent, in trust for the benefit of the holders of PB Bankshares common stock, (1) cash in an amount sufficient to allow the exchange agent to make cash consideration payments under the terms of the merger agreement and
(2) certificates (or evidence of shares in book entry form) representing shares of Norwood common stock, which we refer to as the “new certificates,” each to be given to the holders of PB Bankshares common stock in exchange for old
certificates representing shares of PB Bankshares common stock. Any such cash or new certificates remaining in the possession of the exchange agent six months after the effective time will be delivered to Norwood. Any holder of old certificates who
has not exchanged his, her or its old certificates by that time will be entitled to look exclusively to Norwood, and only as a general creditor, for the consideration to which he, she or it may be entitled upon exchange of such old certificates.

Exchange Procedures.As promptly as practicable after the effective time of the merger, the exchange agent will mail a form
of letter of trans