First Mid and Blackhawk voluntarily supplement merger proxy after shareholder demand letters

FIRST MID BANCSHARES, INC.

Blackhawk received four demand letters (June 21 to Aug 2, 2023) alleging material disclosure deficiencies in the merger proxy.
First Mid and Blackhawk deny allegations but are voluntarily supplementing the proxy to avoid nuisance and expense.
Supplemental disclosures include additional background details, comparable company tables, and discount rate calculations by Piper Sandler.
Blackhawk special shareholder meeting to approve the merger remains scheduled for August 10, 2023.

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