ASSOCIATED BANC-CORP

In 2024, we saw signs of a strengthened US economy. In the Midwest, unemployment rates remained well below the national

average. Our Consumer borrowers remained resilient and our Commercial customers were cautiously optimistic about their

future growth prospects. This stability allowed Associated to deliver positive financial results and continue to execute our

Growth Strategy. We continue to see strong financial results and 2024 was a year of advancing our growth initiatives which

included:

•Filling several key leadership roles by elevating three business line leaders to our ELT

•Expanding our Commercial presence by launching a new deposit vertical in the fourth quarter of 2024

•Welcoming several high quality Relationship Managers to our growing Commercial Team

•Rebalancing our Consumer Lending approach

•Repositioning our balance sheet in both 2023 and 2024

In the fourth quarter of 2024, to support our organic growth strategy, we repositioned our balance sheet with the sale of

approximately $1.3 billion of investment securities and $0.7 billion in mortgage loans, and the purchase of $55 million in

existing credit card balances. This repositioning supports and accelerates our strategy by enhancing our earnings profile,

boosting capital, and providing additional capacity for loan growth. We believe we are well-positioned to attract and deepen

customer relationships, grow market share in key commercial markets, and enhance the value of our franchise.