Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 15

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 15
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 the Merger

American National shareholders are not entitled to dissenters’ or appraisal rights in connection with the Merger.

Interests of American National’s Directors and Executive Officers in the Merger

American National’s executive officers and directors may have interests in the Merger that are different from, or in addition to, the
interests of the American National shareholders generally.

6

General Interests

Such interests include the appointment of Wende Kotouc to the Associated board of directors, payments in connection with existing employment
agreements with certain executive officers of American National and American National Bank, the granting of fully vested shares of American National common stock in settlement of outstanding American National stock bonus awards, the right to
indemnification and insurance coverage following the consummation of the Merger, and Associated’s entry into selected ancillary agreements in which certain persons expected to be related persons at the effective time of the Merger have or will
have a material interest.

The members of the board of directors of American National were aware of and considered these interests, among
other matters, when they approved the Merger Agreement and the transactions contemplated thereby, including the Merger, and recommended that American National voting shareholders approve the Merger Agreement.

For a more complete description of these interests, see “The Merger — Interests of American National’s Directors and
Executive Officers in the Merger.”

Regulatory Approvals

Subject to the terms of the Merger Agreement, Associated and American National have agreed to cooperate with each other and use their
reasonable best efforts to promptly prepare and file all necessary documentation to obtain as promptly as practicable all permits, consents, approvals and authorizations of all third parties and governmental entities which are necessary or advisable
to consummate the transactions contemplated by the Merger Agreement (including the Merger and the Bank Merger), and to comply with the terms and conditions of all such permits, consents, approvals and authorizations of all such third parties and
governmental entities. These approvals include, among others, the approval of the Board of Governors of the Federal Reserve System (the “Federal Reserve Board”) and the OCC.

Although neither Associated nor American National is aware of any reason why it cannot obtain these regulatory approvals in a timely manner,
Associated and American National cannot be certain when or if they will be obtained, or that the granting of these regulatory approvals will not involve the imposition of conditions on the completion of the Merger or the Bank Merger.

Governance of Associated After the Merger

At the