Eastern Bankshares delays merger timeline; no longer expects Q1 2024 regulatory approval

Eastern Bankshares, Inc.

Eastern and Cambridge no longer anticipate all regulatory approvals in Q1 2024 or merger closing in early April 2024.
Received 4 demand letters from Eastern shareholders and 3 from Cambridge shareholders alleging proxy omissions.
Supplemental disclosures made regarding BofA Securities' financial analyses; no admission of liability.
Merger consideration and special meetings scheduled for Feb 28, 2024 remain unchanged.
Companies continue pre-merger integration work while approvals are pending.

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