ASSOCIATED BANC-CORP

The Committee typically reviews the total compensation of the CEO and other ELT members annually in October against

Associated’s pay philosophy and leverages research by the compensation consultant in determining appropriate levels of

compensation. The Committee uses input from the CEO in setting the compensation of the ELT members and his assessment of

executive performance against financial and budgetary goal achievement, significant business line project and objective

success, and other individual performance objectives in determining pay outcomes.

Total compensation packages for the CEO and other NEOs are composed of both fixed and variable (which are primarily

performance-based) components and include short- and long-term compensation. In making compensation-related decisions,

the Committee considered information that compared each executive’s base salary and total compensation to the 25 th, 50 th and

75 th percentiles of these market reference points against the peer group.

For 2024, both short- and long-term incentive target opportunities continued to be set at a consistent percentage of base salary

considering the market median for each NEO. The approach aligns with market practice and enhances pay-for-performance

outcomes. The Committee’s objective is to deliver the majority of executive compensation through variable pay opportunities

that are based on Associated’s performance.

Our focus on variable elements of compensation continued to constitute the majority of the CEO’s and each other NEO’s total

compensation, with long-term, equity-based incentives representing the majority of the variable component of compensation.

This pay mix provides a direct link between executive compensation and shareholder value, fosters equity ownership among the

ELT, and provides a balanced risk profile, all in keeping with the Committee’s objectives for the Company’s executive

compensation program. The table below contains specific information regarding the components of each NEO’s 2024 total

compensation.