Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 76

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 76
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idiary Bank Mergers for approval.

The approval of any regulatory applications merely implies the satisfaction of regulatory criteria for approval, which does not include review
of the adequacy or fairness of the Merger Consideration to Penns Woods shareholders. Furthermore, regulatory approvals do not constitute or imply any endorsement or recommendation of the Merger or the terms of the Merger Agreement.

Northwest and Penns Woods believe that the Merger does not raise significant regulatory concerns and that they will be able to obtain all
requisite regulatory approvals. However, there can be no assurance that all of the regulatory approvals described herein will be obtained and, if obtained, there can be no assurances regarding the timing of the approvals, the companies’ ability
to obtain the approvals on satisfactory terms or the absence of litigation challenging such approvals. In addition, there can be no assurance that such approvals will not impose conditions or requirements that, individually or in the aggregate,
would or could reasonably be expected to have an adverse effect on the financial condition, results of operations, assets or business of the combined company following completion of the Merger. There can likewise be no assurances that U.S. federal
or state regulatory or competition authorities will not attempt to challenge the Merger or, if such a challenge is made, what the result of such challenge will be.

Interests of Penns Woods’ Directors and Officers in the Merger

As described below, some of Penns Woods’ directors and executive officers have interests in the Merger that may be different from, or in
addition to, the interests of Penns Woods’ shareholders generally. The Penns Woods board of directors was aware of these interests and considered them in approving the Merger Agreement.

Executive Employment Agreements: Prior to the Effective Date, Penns Woods shall cause certain of its executive employment
agreements to be amended or terminated in form or substance satisfactory to Northwest, and will cause employees subject to the relevant agreements to execute settlement and releases in forms mutually agreeable to Penns Woods and Northwest,
contingent upon Penns Woods and/or Northwest paying amounts described in the applicable agreements, stating that all amounts due and obligations under each agreement have been fully paid, fulfilled and/or waived.

Change In Control Payments

Upon the consummation of the Merger, and subject to certain other conditions, cash severance payments will be paid to Penns Woods’ named
executive officers pursuant to change in control features in their existing

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employment agreements, as described in “THE MERGER–Interests of