ASSOCIATED BANC-CORP

Each year, the Committee, with the input of our compensation consultant, reviews and assesses the peer group. After a

comprehensive review, the Committee approved the 2024 peer group, which consisted of 21 bank holding companies that the

Committee and compensation consultant believe are appropriate for comparison purposes in terms of size (based on total assets)

and business composition (engaged in lines of business similar to Associated). Our peer group selection process considers the

following:

•Regional banks generally with asset size between 0.5x to 2.0x of Associated’s assets;

•An overall comparison of company structure and services; and

•How frequently the banks were selected as peers by other banks.

For 2024, based on the advice of our compensation consultant, the Committee did not make any changes to the 2023 peer group

since the companies continued to meet our peer group selection criteria. Overall, the companies included in the 2024 peer group

ranged in asset size from approximately $18.0 billion to approximately $71.2 billion. The median asset size of the companies in

the peer group was approximately $37.7 billion, compared to Associated’s total assets of $39.4 billion as of December 31,

The 2024 peer group companies were:

While the peer group is a key point of comparison in the total compensation strategy, the Committee also considered broader

banking and financial services industry survey data as part of its compensation determinations to provide additional market

context. The compensation consultant analyzed compensation data from peer company public filings and the McLagan and

Willis Towers Watson executive financial services surveys, each of which included members of Associated’s peer group. In

analyzing the data, the compensation consultant advised that the additional comparisons, beyond the peer group, provided a

broader perspective from which to appropriately compare compensation.