GLACIER BANCORP, INC.

The following risk factor represents a material update and addition to the risk factors previously disclosed in the Company’s 2024 Annual Report on Form 10-K. The risks and uncertainties described in the 2024 Annual Report on Form 10-K continue to be present and should be carefully reviewed. These are not the only risks and uncertainties that the Company faces. Additional risks and uncertainties that the Company does not currently know about or that we currently believe are immaterial, or that the Company has not predicted, may also harm our business operations or adversely affect the Company. If any of these risks or uncertainties actually occurs, the Company’s business, financial condition, operating results or liquidity could be adversely affected.

Changes in U.S. and foreign trade policies, including tariffs, related retaliatory measures, and other trade restrictions, could adversely affect our customers and our business, financial condition, and results of operations.

Recent developments in U.S. and foreign trade policies, including the imposition or escalation of tariffs, retaliatory measures by trading partners, and other trade restrictions such as export bans or suspensions of critical raw materials, may materially impact our customers, particularly those that rely on global supply chains. The U.S. executive branch has continued to threaten the use of tariffs to address trade imbalances, promote domestic manufacturing, and respond to national security concerns. In response, countries such as China have implemented or threatened retaliatory actions, including higher tariffs on U.S. goods and restrictions on the export of strategic resources such as rare earth elements and key industrial inputs.