HBT Financial (HBT) investor relations material

Transaction highlights

• EPS accretion projected at 11.1% in the first full year with cost savings, and TBV dilution of 2.4% at closing with less than one year earnback using the crossover method.

• Pro forma asset base will be approximately $8.3 billion, expanding operating scale and value for both stockholder groups.

• Strong cultural alignment and complementary community-focused banking models, with key TYFG executives joining the combined entity.

• High-quality, low-cost core deposit base enhances funding profile; First State Mortgage Services, LLC to be divested or cease operations before closing.

• Rigorous due diligence completed, with strong pro forma capital ratios and a proven integration track record.

Transaction summary

• TYFG stockholders can elect either 2.4589 HBT shares or $71.01 cash per share, subject to proration; total consideration is $204.6 million.

• Transaction valued at 131% of tangible book value and 11.6x LTM earnings (excluding First State Mortgage Services, LLC).

• Pro forma ownership will be approximately 91% HBT and 9% TYFG.

• Expected closing and core conversion in Q1 2027, pending regulatory and stockholder approval.

Tri-County Financial Group overview

• Operates 19 branches in central and northern Illinois, with a strong community presence and stable deposit base.

• Loan portfolio is diversified: 20% commercial, 30% commercial real estate, 32% 1-4 family, and 18% agriculture/farmland.

• Financial highlights include $1.6bn in assets, $1.3bn in loans and deposits, 1.05% ROAA, and 3.79% NIM.