Company: NWBI
Filing Date: 2025-02-24
Form Type: 424B3
Source: 0001193125-25-033488
Chunk: 88

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-24
Form: 424B3
Chunk 88
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THE MERGER AGREEMENT

The following is a description of the material terms of the Merger Agreement. A complete copy of the Merger Agreement is attached as
to this proxy statement/prospectus and is incorporated into this proxy statement/prospectus by reference.We encourage you to read the Merger Agreement carefully, as it is the legal document that governs the Merger.

The Merger Agreement contains representations and warranties of Penns Woods and Northwest. The assertions embodied in those representations and warranties are qualified by information contained in confidential disclosure schedules that the parties delivered in connection with the execution of the Merger Agreement. In addition, certain representations and warranties were made as of a specific date, may be subject to a contractual standard of materiality different from the standard of materiality generally applicable to statements made by a corporation to shareholders or may have been used for purposes of allocating risk between the respective parties rather than establishing matters as facts. Accordingly, you should not rely on the representations and warranties as characterizations of the actual state of facts, or for any other purpose, at the time they were made or otherwise.

The Merger and Subsidiary Bank Mergers

Pursuant to the terms and subject to the conditions of the Merger Agreement, upon filing the applicable articles of merger and statement of
merger, Penns Woods will merge with and into Northwest, with Northwest surviving the Merger and continuing as a Maryland corporation and a registered financial holding company. Immediately after the Merger or at such later time specified by
Northwest, Northwest will cause Luzerne Bank to be merged with and into Northwest Bank, with Northwest Bank surviving the Merger and continuing as a Pennsylvania-chartered savings bank. Immediately thereafter, Northwest will cause Jersey Shore Bank
to be merged with and into Northwest Bank, with Northwest Bank surviving the Merger and continuing as a Pennsylvania-chartered savings bank.

Effective Time

Northwest and Penns Woods will cause the Effective Date to occur as soon as practicable after the last of the
conditions set forth in the Merger Agreement have been satisfied or waived. Unless Northwest and Penns Woods otherwise unanimously consent, the Effective Date will not be later than December 31, 2025 or after the date or dates on which any
regulatory authority approval or extension thereof expires. The Merger will become effective at the time at the later of the filing of the statement of merger with the Pennsylvania Department of State Bureau of Corporations and Charitable
Organizations or the articles of merger with the State Department of Assessments