As of October 11, 2019, Peoples United Financial, Inc. (Peoples United) has received all requisite
regulatory approvals and waivers necessary to complete the merger of United Financial Bancorp, Inc. (United Financial) with and into Peoples United, with Peoples United as the surviving corporation (the
Merger), under the terms and subject to the conditions of the Agreement and Plan of Merger, dated as of July 15, 2019, by and between United Financial and Peoples United.
Consummation of the Merger is expected to be effective on November 1, 2019, subject to receipt of the requisite approval by United
Financials shareholders and satisfaction of other customary closing conditions. A special meeting of United Financials shareholders to consider and vote upon the approval of the Merger and related matters is scheduled to be held on
October 22, 2019.
Forward-Looking Statements
This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited
to, Peoples Uniteds and United Financials expectations or predictions of future financial or business performance or conditions. Forward-looking statements are typically identified by words such as believe,
expect, anticipate, intend, target, estimate, continue, positions, plan, predict, project, forecast,
guidance, goal, objective, prospects, possible or potential, by future conditional verbs such as assume, will, would, should,
could or may, or by variations of such words or by similar expressions. These forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time, are difficult to predict and are
generally beyond the control of either company. Forward-looking statements speak only as of the date they are made and we assume no duty to update forward-looking statements. Actual results may differ materially from current projections.
In addition to factors previously disclosed in Peoples Uniteds and United Financials reports filed with the SEC and those identified
elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: the occurrence of any event, change or other circumstances that could
give rise to the right of one or both of the parties to terminate any definitive merger agreement between Peoples United and United Financial; the outcome of any legal proceedings that may be instituted against Peoples United or United
Financial; the ability to meet the closing conditions to the merger, including the risk that approval by United Financial shareholders is not obtained; delay in closing the merger; difficulties and delays in integrating the United Financial business
or fully realizing cost savings and other benefits; business disruption following the merger; changes in asset quality and credit risk; the inability to sustain revenue and earnings growth; changes in interest rates and capital markets; inflation;
customer acceptance of Peoples Uniteds products and services; customer borrowing, repayment, investment and deposit practices; customer disintermediation; the introduction, withdrawal, success and timing of business initiatives;
competitive conditions; the inability to realize cost savings or revenues or to implement integration plans and other consequences associated with mergers, acquisitions and divestitures; economic conditions; the impact, extent and timing of
technological changes and capital management activities; litigation; increased capital requirements, other regulatory requirements or enhanced regulatory supervision; and other actions of the Federal Reserve Board and legislative and regulatory
actions and reforms.
Annualized, pro forma, projected and estimated numbers are used for illustrative purpose only, are not forecasts and may not reflect
actual results.