Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 73

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 73
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, in particular, does not address any tax consequences arising under the unearned income Medicare contribution tax pursuant to the Health Care and Education Reconciliation Act of 2010 or any consequences under the Foreign Account Tax Compliance Act of 2010 (including the Treasury Regulations issued thereunder and intergovernmental agreements entered into pursuant thereto or in connection therewith). This discussion is not intended to be, and should not be construed as, legal or tax advice and does not purport to be a complete analysis or discussion of all U.S. federal income tax considerations relating to the Merger. The tax consequences of the Merger are complex and will depend on your specific situation and factors not within Associated’s or American National’s control. No ruling from the Internal Revenue Service (the “IRS”) has been requested, or will be obtained, regarding the U.S. federal income tax consequences applicable to U.S. holders as discussed herein. This discussion is not binding on the IRS, and the IRS is not precluded from taking a position that is different from, and/or contrary to, the positions taken in this discussion. In addition, because the authorities on which this discussion is based are subject to various interpretations, the IRS and the U.S. courts could disagree with one or more of the positions taken in this discussion. You should consult your own tax advisor as to the tax consequences of the Merger in light of your particular circumstances, including the ability and effect of the alternative minimum tax and any U.S. federal, U.S. state or local, non-U.S.or other tax laws and of changes in such laws. 51

Tax Consequences of the Merger Generally In General Associated and American National intend the Merger to qualify as a “reorganization” within the meaning of Section 368(a) of the Code. As described below, it is a condition to each party’s respective obligations to complete the Merger that Associated and American National each receive a legal opinion that the Merger will so qualify. The discussion below assumes the Merger will qualify as a “reorganization” within the meaning of Section 368(a) of the Code. U.S. Holders The material U.S. federal income tax consequences of the merger to a U.S. holder generally will be as follows:

| • |     | you will not recognize gain or loss when you exchange your American National common stock solely for Associated                                                                   
 common stock in the merger, except for any gain or loss recognized with respect to any cash received instead of fractional shares of Associated common stock,