Company: ASB
Filing Date: 2025-12-30
Form Type: S-4
Source: 0001193125-25-337086
Chunk: 67

Company: ASSOCIATED BANC-CORP
Filing Date: 2025-12-30
Form: S-4
Chunk 67
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 by an executive thereof stating that 
 the conditions set forth in the immediately preceding two bullets have been satisfied; and                      |

| • |     | receipt by such party of an opinion of legal counsel, in form and substance reasonably satisfactory to such                                                                                                                                       
 party, dated as of the closing date, to the effect that, on the basis of facts, representations and assumptions set forth or referred to in such opinion, the Merger will qualify as a “reorganization” within the meaning of                     
 Section 368(a) of the Code; in rendering such opinion, counsel may require and rely upon representations contained in certificates of officers of Associated and American National reasonably satisfactory in form and substance to such counsel. |

Associated’s obligation to complete the Merger is subject to the satisfaction or, where legally permissible, waiver of additional conditions. These additional conditions include, among others:

| • |     | receipt of a FIRPTA certificate from American National stating that the shares of capital stock of American 
 National do not constitute “United States real property interests” under the Code;                          |

| • |     | no requisite regulatory approval would result in the imposition of any materially burdensome regulatory 
 condition; and                                                                                          |

| • |     | neither American National Bank nor any applicable depositor shall be in breach of and shall not have stated in 
 writing any intention to breach any deposit noncompetition agreement.                                          |

American National’s obligation to complete the Merger is subject to the satisfaction or, where legally permissible, waiver of additional conditions. These additional conditions include, among others, that Associated shall not be in breach of and shall not have stated in writing any intention to breach either of the Kotouc consulting agreement or the side letter. 47

Neither Associated nor American National can provide assurance as to when or if all of the conditions to the Merger can or will be satisfied or waived by the appropriate party. Termination of the Merger Agreement The Merger Agreement may be terminated at any time prior to the completion of the Merger, whether before or after the receipt of the written consent of American National voting shareholders, in the following circumstances:

| • |     | by mutual consent of Associated and American National in a written instrument; |

| • |     | by either Associated or American National if any governmental entity that must grant a requisite regulatory                                                                                                                                              
 approval has denied approval of the Merger or the Bank Merger and such denial has become final and nonappealable or any governmental entity of competent jurisdiction has issued a final nonappealable order,