CNB FINANCIAL CORP/PA

Performance Ratios

•Annualized return on average equity was 12.36%, 15.58%, and 7.52% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively. Excluding after‑tax merger transaction related expenses and the provision adjustment related to the adoption of ASU 2025‑08, annualized return on average equity was 12.46% for the three months ended December 31, 2025. Excluding after‑tax merger transaction related expenses, annualized return on average equity was 8.49% for the three months ended March 31, 2025.

•Annualized return on average tangible common equity, a non-GAAP measure, was 14.89%, 19.29% and 8.15% for the three months ended March 31, 2026, December 31, 2025, and March 31, 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. Excluding after‑tax merger transaction related expenses, annualized return on average tangible common equity was 9.32% for the three months ended March 31, 2025.1

•The Corporation's efficiency ratio was 59.03%, 69.55% and 72.07% for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively, and 57.32%, 67.73% and 71.28%, 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% and 68.62%, for the three months ended December 31, 2025 and March 31, 2025, respectively.1 The quarter-over-quarter decrease was primarily driven by lower non-interest expense, partially offset by lower 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.