CNB FINANCIAL CORP/PA

Performance Ratios

•Annualized return on average equity was 15.58% and 3.60% for the three months ended December 31, 2025 and September 30, 2025, respectively. Excluding after-tax merger transaction related expenses and the provision adjustment related to adoption of ASU 2025-08, annualized return on average equity was 12.46% for the three months ended December 31, 2025, compared to 12.05% and 9.79%, for the three months ended September 30, 2025 and December 31, 2024, respectively.1 Return on average equity was 9.14% for the year ended December 31, 2025. Excluding after-tax merger transaction related expenses, return on average equity was 10.75% for the year ended December 31, 2025, compared to 9.21% for the year ended December 31, 2024.1

•Annualized return on average tangible common equity, a non-GAAP measure, was 19.29% and 3.87% for the three months ended December 31, 2025 and September 30, 2025, respectively.1 Excluding after-tax merger transaction related expenses and the provision adjustment related to adoption of ASU 2025-08, annualized return on average tangible common equity was 15.30% for the three months ended December 31, 2025, compared to 14.62%, excluding after-tax merger and integration costs, and 10.90% for the three months ended September 30, 2025 and December 31, 2024, respectively.1 Return on average tangible common equity was 10.59% for the year ended December 31, 2025. Excluding after-tax merger transaction related expenses, return on average tangible common equity was 12.58% for the year ended December 31, 2025, compared to 10.25% for the year ended December 31, 2024.1

•The Corporation's efficiency ratio was 69.55% and 64.56% for the three months ended December 31, 2025 and September 30, 2025, respectively, and 67.73% and 62.97%, respectively, on a fully tax-equivalent basis, a non-GAAP measure.1 Excluding merger and integration costs, the efficiency ratio on a fully tax-equivalent basis was 58.80% for the three months ended December 31, 2025, compared to 57.67% and 63.02% for the three months ended September 30, 2025 and December 31, 2024, respectively.1 The quarter-over-quarter increase was primarily driven by higher non-interest expense, partially offset by increased net interest income and non-interest income, as further discussed below. The year-over-year decrease was primarily driven by an increase in net interest income, partially offset by an increase in non-interest expense. The Corporation's efficiency ratio was 67.64% for the year ended December 31, 2025, and 66.35% on a fully tax-equivalent basis.1 Excluding merger and integration costs, the efficiency ratio on a fully tax-equivalent basis was 61.49% for the year ended December 31, 2025, compared to 65.47% for the year ended December 31, 2024.1 The year-over-year decrease was primarily driven by higher net interest income, partially offset by higher non-interest expense, and also reflected the anticipated economies-of-scale operational efficiencies resulting from the ESSA acquisition.