SUMMARY ANNUAL REPORT Transformation A Message to Shareholders from Ronald J. Seiffert, Chairman, President & CEO Allow me to begin this year’s Message to our • Merger & Acquisition Strategy which Shareholders by first recognizing and thanking resulted in the acquisition and successful each and every one of our valued employees conversion of MutualBank, a $2.1 billion for their dedication to serving our customers bank headquartered in Muncie, Indiana in during one of the most historically-challenging April of 2020; environments caused by COVID-19. It is through their tireless efforts that we were able to provide $500 million in Paycheck Protection Program (“PPP”) loans to 4,644 of our small business customers, extend the deferment of loan payments to another 6,500 of our customers and temporarily waive fees for our 387,000 retail checking customers. Their selfless attitudes and behaviors can only be described as heroic and for this I am truly grateful. I would also like to thank our valued customers for their patience as we adapted our delivery channels to protect our employees while, at the same time, still serving them to the very best of our abilities. In addition to serving our customers on a day-to-day basis, our employees also found the time and energy to accomplish a number of strategic initiatives that, over time, will prove transformational to the company. These strategic initiatives included the following: • Mortgage Banking Expansion Strategy which has driven fee income from $1.4 million in 2017 on originations of $493.5 million to $31.4 million in 2020 with originations of $1.4 billion; • Commercial Loan Hedging Strategy which not only converts interest rates from floating to fixed for our customers, but generated over $9.0 million in new fee income over the last three years; • Dealer Services Growth Strategy which increased consumer loans from $671.4 million in 2017 to $1.5 billion in 2020 while reducing operating costs by $500 thousand; • Consumer Deposit Product, Pricing and Marketing Strategy which resulted in approximately $7.0 million in incremental income and dramatically improved the efficiency and effectiveness of marketing in 2020; 1 2021 Focus • Talent Acquisition, Development and In October of 2020, the management team Retention Strategy which, among of the company presented to our Board of many other changes, resulted in a more Directors for approval our refreshed strategic competitive compensation philosophy, a plan which included a number of new initiatives comprehensive succession plan, a robust which will further enhance our financial mentoring program and the development of performance in 2021. The major initiatives that our very first Diversity & Inclusion Council; emerged from this process are as follows: • Subordinated Debt Strategy which raised $125 million at an attractive coupon rate of 4.00% and resulted in a public investment grade rating of BBB flat; • Mergers & Acquisitions: Continue to explore merger opportunities in our defined target market; • Production & Revenue Growth: Continue • CECL Implementation Strategy which to establish our presence across the State is fully compliant with all accounting of Indiana, expand indirect auto and standards; and, • Branch Optimization Strategy which resulted in the closure of 42 banking offices at an annual cost savings of $10 million beginning in 2021 to be reinvested in efforts to support our digital transformation. The successful execution of the above initiatives in 2020 served to somewhat mitigate the significant negative impact on our loan loss provision of approximately $41.6 million caused by COVID-19 and the continued headwinds caused by declining interest rates and a flat yield curve. For the fiscal year ending December 31, 2020, the company generated net income of $74.9 million. The financial statements that follow will provide more in-depth analyses of our financial performance for the year. powersports lending in new contiguous markets, roll out our mortgage banking capabilities across our entire footprint, capitalize on our newly-established healthcare vertical and corporate finance division, which we expanded with the addition of two experienced professionals. Lastly, we will integrate our new, tenured middle-market lending team in the greater Philadelphia area; • Digital Transformation: To ensure we're providing an effortless and empowering customer experience and a more efficient workplace for our employees, we will replace up to 85% of our technology platform with cloud-based digital solutions featuring enhanced functionality, money management tools, security and more; • Culture: Build upon the company’s strong culture through an initiative designed to reaffirm commonality of goal and purpose of our employees in relation to our customers and communities in which we serve; 2 Conclusion • Diversity & Inclusion: Through our Despite the many challenges created by Diversity & Inclusion Council established COVID-19 in 2020, I could not be more pleased in 2020, develop focused initiatives to with the resiliency and heroism exhibited by ensure and build upon the Bank’s inclusive our employees. As a result of their persistence, environment to include data collection the bank generated a record profit of $38.1 and analyses, education, training and million in the third quarter of the year and development and community engagement; $35.1 million during the fourth quarter creating • Risk Management: Continue our strong momentum as we enter 2021. historically strong focus and emphasis on Although we will continue to experience maintaining effective risk management headwinds as we enter 2021 as a result of practices and oversight across the bank in response to an increasingly complex banking environment; • Innovation Hub: Continue to explore revenue enhancement and cost reduction ideas through the execution of our newly- created Innovation Hub which solicits and executes innovative ideas from all employees; • Talent Acquisition, Development and Retention: Continue to aggressively pursue and develop top talent across all of our job families to support our growth and to respond to the ever increasing complexities of our business; and, • Holding Company Location: Establish Columbus, Ohio as the new headquarters of Northwest Bancshares, Inc., our holding company, while maintaining Warren, PA as our bank headquarters. Through the effective execution of the above strategies and initiatives in 2021, we are highly confident that we will build upon the historically consistent financial performance of the company and, in turn, enhance shareholder value. the interest rate environment, I believe our company will emerge substantially stronger and more progressive than ever before. As a large regional community bank, we are big enough to provide all of the products and services necessary to compete with any financial institution, big or small, but small and nimble enough to deliver those products and services in a more customer-oriented and community-oriented manner. We are in the third year of executing our very compelling five-year strategic plan which we believe will drive exceptional performance and shareholder value in 2021 and beyond. However, we have a strong bias that our greatest strength is our people. We have exceptional employees who are extremely dedicated to our company, to our customers and to the communities that we serve. On behalf of our Board of Directors and our employees, I wish to thank our shareholders for your confidence in our company and for your continued support! Sincerely, Ronald J. Seiffert Chairman, President and CEO 3 Corporate Profile Northwest Bancshares, Inc. Northwest Bancshares, Inc. is a federally- banking locations, eight free-standing drive chartered savings and loan holding company through locations and 264 ATMs across that owns and operates Northwest Bank, Pennsylvania, New York, Ohio and Indiana. a Pennsylvania-chartered savings bank For more than 124 years, we have served our headquartered in Warren, Pennsylvania. communities by meeting the diverse financial needs of individuals, families, organizations As of December 31, 2020, we held assets and businesses seeking to bank, borrow, of $13.81 billion, 162 full-service community invest, insure and plan their futures. Our primary business involves gathering funds from deposits and borrowings and investing them in loans and investment securities. Source of Funds Investment of Funds Checking Accounts Money Market Accounts Savings Accounts Certificates of Deposit Borrowed Funds Subordinated Debt 46% 20% 17% 14% 2% 1% Commercial Real Estate Mortgage Loans Cash and Investments Consumer Loans Home Equity Loans Commercial Loans 26% 24% 18% 12% 11% 9% 4 9%11%12%18%24%26%14%17%20%46% Northwest's sources of funds and mix of loans and investments have changed considerably over the years as we have strived to transform from a thrift to a commercial bank. Loan Growth and Mix in billions of dollars $12 1-4 Family Residential Mortgages Home Equity Loans Consumer Loans Commercial Real Estate Commercial and Industrial $8 $4 $0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Deposit Growth and Mix in billions of dollars $12 Savings Accounts Checking Accounts Money Market Accounts Certificates of Deposit $8 $4 $0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 5 Financial Highlights Northwest Bancshares, Inc. and subsidiaries In thousands, except per share and other data AT YEAR END DECEMBER 31, 2020 2019 2018 Total assets Loans receivable, net Deposits Shareholders’ equity Book value per share Tangible book value per share Closing market price per share FOR THE YEAR ENDED DECEMBER 31, Net interest income Net income Non-GAAP net income Diluted earnings per share Non-GAAP diluted earnings per share Dividends per share KEY FINANCIAL RATIOS FOR THE YEAR ENDED DECEMBER 31, Return on average shareholders’ equity Non-GAAP return on average shareholders’ equity Return on average assets Non-GAAP return on average assets Tangible common equity Average interest rate spread Nonperforming assets to total assets at end of period Net charge-offs as a percentage of average loans outstanding Allowance for credit losses to nonperforming loans at end of period 129.99% Allowance for credit losses as a percentage of loans receivable 1.27% OTHER DATA AT DECEMBER 31, $ 13,806,268 $ 10,493,908 $ 9,607,773 10,446,422 8,750,733 7,996,225 11,599,233 8,592,007 7,894,179 1,538,703 1,353,285 1,257,638 12.11 8.95 12.74 12.66 9.21 16.63 12.17 9.00 16.94 $ 391,728 $ 360,466 $ 338,641 74,854 110,432 105,491 131,422 113,433 105,491 0.62 1.09 0.76 4.72% 8.29% 0.58% 1.02% 8.48% 3.24% 0.77% 0.27% 1.04 1.07 0.72 8.36% 8.58% 1.07% 1.10% 9.72% 3.62% 0.67% 0.23% 84.09% 0.66% 1.02 1.02 0.68 8.61% 8.61% 1.11% 1.11% 10.03% 3.73% 0.78% 0.28% 76.21% 0.69% Full-service community banking locations 162 172 162 Average deposits per full-service location (1) $ 71,600 $ 49,954 $ 48,730 Full-time equivalent employees Registered shareholders (2) 2,421 12,442 2,209 12,532 2,128 13,068 (1) In thousands. (2) Excludes shareholders who own their stock in “street name.” 6 Growth and Performance Assets in billions of dollars Assets Total assets increased $3.312 billion over prior year primarily as a result of the completion of the merger with MutualBank on April 24, 2020 as well as strong organic growth in loans and deposits over the past year. Net income Although net income decreased in the current year, on a non- GAAP basis, when adjusting for nonrecurring items including COVID-19 related provision, CECL provision related to the MutualBank acquisition, PPP 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Annual Net Income in millions of dollars $110.4 $83.7 $74.9 $60.5 $49.7 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 deferred origination costs and Diluted earnings per share in dollars acquisition/branch optimization expense, net income was $131.4 million—an increase of $18.0 million, or 15.9%. over prior year. $1.04 $0.83 $0.64 $0.49 $0.62 Earnings per share 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Common Stock Information Stock Price Performance Since IPO in total return %* (Source: SNL Financial) 2020 High Low Div 1Q $ 16.67 $ 9.92 $ 0.19 2Q $ 12.24 $ 8.52 $ 0.19 3Q $ 10.72 $ 8.84 $ 0.19 4Q $ 12.84 $ 9.07 $ 0.19 2019 High Low Div 1Q $ 18.68 $ 16.51 $ 0.18 2Q $ 17.72 $ 16.77 $ 0.18 3Q $ 17.70 $ 15.59 $ 0.18 4Q $ 17.53 $ 16.14 $ 0.18 2,100 1,550 1,000 450 -100 NWBI +1,509.65% S&P 500 +1,234.90% SNL U.S. Bank +648.74% SNL U.S. Thrift +533.70% 1 9 9 4 1 9 9 5 1 9 9 6 1 9 9 7 1 9 9 8 1 9 9 9 2 0 0 0 2 0 0 1 2 0 0 2 2 0 0 3 2 0 0 4 2 0 0 5 2 0 0 6 2 0 0 7 2 0 0 8 2 0 0 9 2 0 1 0 2 0 1 1 2 0 1 2 2 0 1 3 2 0 1 4 2 0 1 5 2 0 1 6 2 0 1 7 2 0 1 8 2 0 1 9 2 0 2 0 *Prior to 2020, SNL Financial used price change (%) instead of total return (%) for Stock Price Performance Since IPO. 7 $74.9$110.4$105.5$94.5$49.7$60.5$62.0$66.6$63.4$64.2$131.4$113.4$83.7$82.3$67.0$131.4$113.4$83.7$82.3$67.0$131.4$113.4$83.7$82.3$67.0$13.81$10.49$9.61$9.36$9.62$8.95$7.78$7.88$7.94$7.96$0.62$1.04$1.02$0.92$0.49$0.64$0.67$0.73$0.68$0.64$131.4$113.4$83.7$82.3$67.0$1.09$1.07$1.02$0.83$0.82$0.71$1.09$1.07$1.02$0.83$0.82$0.71$1.09$1.07$1.02$0.83$0.82$0.71$1.09$1.07$1.02$0.83$0.82$0.71$1.09$1.07$1.02$0.83$0.82$0.71$131.4$113.4$83.7$82.3$67.0 Market Coverage A network of offices across four states. Together, we make a difference! Thanks to the continued hard work and commitment of our employees, Northwest was named to Forbes' list of America's Best Banks in 2020. 8 Increasing the value of you. Always having your back. That's our front and center. At Northwest, your peace of mind is our top priority—and faced with unprecedented times, we found more ways to be there for you— Providing relief for individuals and families in financial crisis. Working tirelessly to support businesses in need of critical funding. Protecting your health and safety. And ensuring easy, uninterrupted access to your accounts was just a call or click away. We made sure our dedicated team was always available, whenever you needed us—and you can rest assured knowing that our commitment will always continue. We are here to increase the value of you. 9 Business Solutions A greater degree of confidence. Go confidently, knowing you're surrounded by the experts you need to navigate challenges and reach your business goals. With Northwest 360, our team is an extension of yours. Seeing your business from every angle, mapping a plan for success and getting you what you need—from treasury management and financing to insurance and benefits. In a challenging environment, our trusted advisors worked around the clock to help businesses—large and small—obtain much-needed relief through the Paycheck Protection Program. And we’ll continue to be there for you whenever you need us. Looking ahead, we're on a journey to make banking better—effortless, empowering, enhanced with powerful digital tools—and backed by a team that puts your business first. 10 Business Solutions Loans and Deposits Commercial relationships continue to be a growing segment of our business as commercial loans and deposits have grown substantially over the past five years. Yields and costs have declined due to the changing interest rate environment, but our interest spread remains attractive. Our business deposit mix continues to improve as we meet the needs of all types of businesses. Commercial Loans in billions of dollars Business Deposit Balances in billions of dollars 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Commercial Loan Yields Cost of Business Deposits 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Commercial Loan Losses as a % of commercial loans Business Deposit Mix 2016 2017 2018 2019 2020 53% 53% of business deposits were in non-interest bearing checking accounts Money Market Accounts 18% Interest Checking Accounts 15% Municipal Accounts 14% 11 14%15%18%53%0.45%0.35%0.35%0.25%0.28%$3.536$2.098$1.919$1.701$1.7054.27%5.00%4.72%4.41%4.37%0.05%0.34%0.34%0.19%0.08%$4.537$3.472$3.069$3.035$2.871 Business Solutions Trust Services Business trust revenue has remained strong over the past year as we continue to diversify our mix of both revenue and assets under management. Business Trust Assets Under Management in millions of dollars Business Trust Asset Mix as a % of total business assets under management 82% 82% of business trust assets were in retirement plans Endowments/Foundations 11% Investment Management Trusts 5% 2% 2016 2017 2018 2019 2020 Business Trust Revenue in millions of dollars Business Trust Revenue Mix as a % of total business revenue 72% 72% of business trust revenue came from retirement plans Endowments/Foundations 15% Investment Management Trusts 9% 4% 2016 2017 2018 2019 2020 Business investments, employee retirement plans and succession plans play an important role in the health of a business. That's where our trust officers shine. 12 11%82%$4.9$4.3$4.3$4.2$4.09%15%72%4%$1,824.0$1,446.5$1,239.1$1,337.7$1,222.7 Insurance Services Through Northwest Insurance Services, we complete our full-service business offer with a personal approach to property and casualty insurance and employee benefits. Business Insurance Revenue in millions of dollars Business Insurance Revenue Mix as a % of total business insurance revenue 70% 70% of business insurance revenue came from employee benefits accounts Property and Casualty 30% 2016 2017 2018 2019 2020 Northwest Insurance Services advisors work with businesses as an extension of their team—from plan evaluation and implementation to employee education and administration. 13 $8.4$7.7$8.1$8.2$8.270%30% Personal Solutions Increasing the value of you. At Northwest, we're going above and beyond to help you tap in to everything we have to offer—whether you're living in the moment or planning for what's next. Behind every solution, tool and app we offer, you'll find friendly, helpful experts who are genuinely happy to take care of you. The way we see it, a bank is the sum of its products and people, and a great bank uses the power of both to guide you on your financial journey. We're on a mission to create a banking experience that's simple, fast, easy and secure. No matter how you bank with us—now and in the future—we promise to continue investing in you. 14 Deposits We pride ourselves in the relationships we've built meeting our customers' needs. We continue to have great success attracting and keeping new checking account customers and look forward to serving them for years to come as we deepen those relationships. Number of Households Number of Checking Accounts 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Services Per Household Checking Account Balances in billions of dollars 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Savings and Insured Money Fund Deposit Balances in billions of dollars Checking Account Fees in millions of dollars 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 (1) In 2017, services per household declined as we welcomed former Northwest Consumer Discount Company single-service loan customers to the bank. 15 $51.9$49.6$46.2$44.2$38.7357,837325,869313,864310,993311,141$2.815$1.971$1.838$1.797$1.749$3.870$3.096$2.960$3.041$3.168472,854421,896401,727393,070372,5023.0992.9752.8472.8533.027 Personal Solutions Loans Mortgage and home equity loans are a core offering and continue to provide a stable return. Consumer loans have grown substantially in recent years with an emphasis on higher credit quality. Mortgage Portfolio Yield Consumer Loans in millions of dollars 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Home Equity Portfolio Yield Consumer Loan Portfolio Yield 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 Mortgage and Home Equity Loan Losses as a % of total mortgages and home equity loans Consumer Loan Losses as a % of consumer loans 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 16 (1) Excludes consumer finance loans from Northwest Consumer Discount Company. 4.40%4.57%4.95%5.98%6.50%0.03%0.05%0.07%0.08%0.15%$1,508.0$1,125.1$859.7$671.4$643.03.89%4.91%4.80%4.45%4.32%3.71%4.04%4.06%4.11%4.18%0.84%1.05%1.86%1.83%1.70% Trust Services We continue to grow personal trust revenue through our focus on relationships, service and customized investment management solutions. Personal Trust Assets Under Management in millions of dollars Personal Trust Asset Mix as a % of total personal assets under management 53% of trust assets were in investment management accounts Trusts 47% 53% 2016 2017 2018 2019 2020 Personal Trust Revenue in millions of dollars Personal Trust Revenue Mix as a % of total personal revenue 54% of trust revenue came from investment management accounts Trusts 46% 54% 2016 2017 2018 2019 2020 Our experienced team of trust officers help ensure customer assets are protected— and their legacies are fulfilled. 17 54%46%53%47%$5.0$3.9$3.8$3.6$3.5$804.0$404.0$364.9$403.0$393.2 Personal Solutions Northwest Investment Services Despite the challenges of 2020, personal assets under management and revenue continued to grow due to strong sales, a stable market and territory redesign accompanied by targeted hiring of talent. Personal Assets Under Management in millions of dollars Personal Asset Mix as a % of total personal assets under management 35% 35% of personal investment assets were in annuity accounts Brokerage Advisory 33% 32% 2016 2017 2018 2019 2020 Personal Investment Management Revenue in millions of dollars Personal Investment Management Revenue Mix as a % of total personal revenue 59% 59% of personal investment revenue came from advisory accounts Annuity Brokerage 29% 12% 2016 2017 2018 2019 2020 18 29%59%12%33%35%32%$11.7$10.8$9.7$9.1$5.2$2,230.6$1,727.3$1,440.6$1,487.1$1,274.9 Insurance Services Not only have we increased organic sales, but we've acquired a number of insurance companies across our footprint over the past few years, which has allowed us to not only expand our service area, but also add experienced, talented insurance representatives to our team. Personal Insurance Revenue in thousands of dollars Personal Insurance Revenue Mix as a % of total personal insurance revenue 76% 76% of personal insurance revenue came from property and casualty policies Health, Life and Disability Insurance 24% 2016 2017 2018 2019 2020 19 $1,717.0$1,140.5$1,215.4$1,209.2$901.176%24% Financial Data Condensed consolidated balance sheet In thousands, except share data ASSETS Cash and cash equivalents Marketable securities available-for-sale Marketable securities held-to-maturity AS OF DECEMBER 31, 2020 2019 $ 736,277 $ 60,846 1,398,941 819,901 178,887 18,036 Loans receivable, net of allowance for credit losses of $134,427 and $57,941 10,446,422 8,750,733 Federal Home Loan Bank stock, at cost Accrued interest receivable Real estate owned, net Premises and equipment Bank-owned life insurance Goodwill and other intangible assets Other assets TOTAL ASSETS LIABILITIES AND SHAREHOLDERS’ EQUITY Deposits Borrowed funds Junior subordinated debentures Advances by borrowers for taxes and insurance Accrued interest payable Other liabilities TOTAL LIABILITIES 21,748 35,554 2,232 14,740 25,755 950 161,538 147,409 253,951 189,091 402,215 369,179 168,503 97,268 $ 13,806,268 $ 10,493,908 $ 11,599,233 $ 8,592,007 283,044 246,336 128,794 121,800 45,230 2,054 44,556 1,142 209,210 134,782 12,267,565 9,140,623 Preferred stock, $0.01 par value, 50,000,000 shares authorized; no shares issued — — Common stock, $0.01 par value, 500,000,000 shares authorized; 127,091,452 and 106,859,088 shares issued and outstanding, respectively Paid-in capital Retained earnings Accumulated other comprehensive loss TOTAL SHAREHOLDERS’ EQUITY TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 1,270 1,069 1,015,502 805,750 555,480 583,407 (33,549) (36,941) 1,538,703 1,353,285 $ 13,806,268 $ 10,493,908 20 Condensed consolidated statements of income In thousands, except per share data INTEREST INCOME: Loans Investments and interest-earning cash TOTAL INTEREST INCOME INTEREST EXPENSE: Deposits Borrowed funds TOTAL INTEREST EXPENSE Net interest income Provision for credit losses YEARS ENDED DECEMBER 31, 2020 2019 2018 $ 410,907 $ 394,809 $ 356,571 23,161 22,571 19,210 434,068 417,380 375,781 35,896 49,216 30,985 6,444 7,698 6,155 42,340 56,914 37,140 391,728 360,466 338,641 83,975 22,659 20,332 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 307,753 337,807 318,309 NONINTEREST INCOME: Gain on sale of investments Gain on sale of loans Service charges and fees Trust and other financial services income Insurance commission income Income from bank-owned life insurance Mortgage banking income Other TOTAL NONINTEREST INCOME NONINTEREST EXPENSE: Compensation and employee benefits Premises and occupancy costs Office operations Collections expense Processing expenses Marketing expenses Federal deposit insurance premiums Professional services Amortization of intangible assets Acquisition/branch optimization expense Other TOTAL NONINTEREST EXPENSE Income before income taxes Income tax expense NET INCOME Basic earnings per share Diluted earnings per share 236 1,302 55,613 20,922 9,132 5,190 31,391 50 1,734 157 — 53,065 50,792 17,765 16,581 8,068 4,418 3,819 8,791 5,821 596 8,964 8,479 10,488 132,265 99,407 91,702 178,375 163,086 152,395 30,622 15,728 3,275 28,717 14,133 2,560 27,519 14,139 2,209 50,050 42,453 39,046 7,695 4,767 6,998 685 8,434 2,746 12,482 12,287 10,598 6,856 20,789 16,853 6,543 4,168 5,848 1,014 14,473 12,150 347,492 296,103 276,098 92,526 141,111 133,913 17,672 30,679 28,422 $ 74,854 $ 110,432 $ 105,491 $ 0.62 $ 0.62 $ 1.05 $ 1.04 $ 1.03 $ 1.02 21 Directors and Officers Board of Directors Ronald J. Seiffert Chairman, President and CEO Northwest Bancshares, Inc. Robert M. Campana President Campana Capital Deborah J. Chadsey Attorney and Partner Kavinoky Cook LLP Wilbur R. Davis Retired Co-Founder and CEO Ontario Systems, LLC Corporate Officers Timothy B. Fannin Retired Partner Catalano, Case, Catalano & Clark-Radzieta, LLP Mark A. Paup President and CEO Zippo Manufacturing, W.R. Case and Sons Cutlery Company Timothy M. Hunter President and CEO McInnes Rolled Rings, Erie Bronze & Aluminum Company Sonia M. Probst Retired CEO Rouse Estate David M. Tullio President Custom Engineering Company William F. McKnight Controller Interstate Chemical Company John P. Meegan Executive Vice President and COO Hefren-Tillotson, Inc. Ronald J. Seiffert President Chief Executive Officer Ronald B. Andzelik Executive Vice President Chief Risk Officer Richard K. Laws Executive Vice President Chief Counsel/Corporate Secretary John J. Golding Senior Executive Vice President Consumer and Business Banking Thomas K. Creal IV Executive Vice President Chief Credit Officer William W. Harvey, Jr. Senior Executive Vice President Chief Financial Officer David W. Heeter Executive Vice President CEO – Indiana Market Mark T. Reitzes Senior Executive Vice President Commercial Banking Kyle P. Kane Executive Vice President Chief Human Resources Officer Julia W. McTavish Executive Vice President Human Resources Shawn O. Walker Executive Vice President Chief Marketing Officer Scott J. Watson Executive Vice President Chief Information and Operations Officer Louis J. Torchio Senior Executive Vice President Retail Lending 22 Kevin W. Nelson Senior Vice President Commercial Banking Melody P. Schott Senior Vice President Support Services Heidi Schwab Senior Vice President Shared Services Tina M. Stinson Senior Vice President Treasury Management James M. Swanson Senior Vice President Deposit Products C. Forrest Tefft Senior Vice President Corporate Finance Jeffrey R. White Senior Vice President Controller Mark H. Worthy Senior Vice President Commercial Banking Corporate Officers Neil A. Aquino, Jr. Senior Vice President Commercial Banking Jennifer L. Gibson Senior Vice President Indiana Region John K. Beard Senior Vice President Northwest Investment Services Richard C. Hamister Senior Vice President Great Lakes Region Julie Fallon Hughes Senior Vice President Southwest PA/Ohio Region D. Kirk Jacobson Senior Vice President Small Business Lending Raymond R. Learn Senior Vice President Chief Compliance Officer Dorothy E. Lobdell Senior Vice President Retail Lending Operations Jeffrey J. Maddigan Senior Vice President Treasurer Julie A. Marasco Senior Vice President Northwest PA Region Kevin G. Mizak Senior Vice President Chief Auditor Stephen M. Bell Senior Vice President Corporate Real Estate Douglas H. Bert Senior Vice President Insurance Services Kevin S. Carpenter Senior Vice President Retail Lending Michele D. Cavalier Senior Vice President Senior Trust Officer James M. Colestro Senior Vice President Retail Lending Steven M. Crissey Senior Vice President Human Resources Barbara L. DeMontier Senior Vice President Human Resources Rocco N. Diina Senior Vice President Retail Lending Christina D. Dinger Senior Vice President Enterprise Project Management Kelli M. Griffin Senior Vice President Customer Experience 23 Investor Information Corporate Headquarters Financial Information 100 Liberty Street PO Box 128 Warren, Pennsylvania 16365 Telephone: (814) 726-2140 Fax: (814) 728-7716 www.northwest.com Annual Meeting Due to the current social distancing challenges caused by COVID-19, our Annual Meeting will be held virtually this year at 11:00 a.m. (Pennsylvania time) on April 21, 2021 at www.virtualshareholdermeeting.com/NWBI2021. Stock Listing Northwest Bancshares, Inc. common stock is traded on the NASDAQ Global Select Market under the symbol “NWBI.” Stock Transfer, Registrar and Dividend Disbursing Agent Shareholder communications regarding change of address, change in stock registration, reporting of lost certificates and dividend checks should be directed to: American Stock Transfer and Trust Company, LLC 6201 15th Avenue Brooklyn, New York 11219 Toll Free: 1-800-937-5449 Toll Free: 1-877-715-0499 Email: help@astfinancial.com www.astfinancial.com Online Shareholder Access Registered shareholders can securely manage their account(s) online through American Stock Transfer & Trust Company, LLC at www.astfinancial.com by clicking “Login”, “Individuals” and “Shareholder Central”. Here you can easily obtain important details about your holdings and general stock transfer information, as well as initiate a number of transactions and inquiries including the following: • Update your mailing address • Print a duplicate 1099 tax form • Combine/consolidate accounts • Request a replacement dividend check • Download stock transfer instructions and forms • Enroll in direct deposit of dividends Independent Auditors KPMG LLP, Pittsburgh, Pennsylvania Securities Counsel Luse Gorman, P.C., Washington, D.C. The Annual Report on Form 10-K is filed with the Securities and Exchange Commission (SEC). Copies of this document and other filings, including exhibits thereto, may be obtained electronically at www.sec.gov or through the company’s website, www.northwest.com. Copies may also be obtained, without charge, upon request by writing to the company’s corporate headquarters. Dividend Reinvestment and Direct Stock Purchase and Sale Plan Northwest Bancshares, Inc. is pleased to offer a Dividend Reinvestment and Direct Stock Purchase and Sale Plan through American Stock Transfer & Trust Company, LLC. The plan provides both existing registered shareholders and interested new investors with a convenient method to purchase shares of Northwest Bancshares, Inc. common stock. If you are already a registered shareholder or are interested in becoming one, you may access the plan materials and enroll online at www.astfinancial.com by clicking on “Login”, “Individuals” and “Invest Online” or from our investor relations website at www.northwest. com. Alternatively, you may request a plan prospectus and enrollment application by calling American Stock Transfer & Trust Company, toll-free, at 1-877-715-0499 or Northwest, toll-free, at 1-800-859-1000 or (814) 728-7263. Direct Deposit of Dividends Registered shareholders who do not reinvest their dividends may elect to have cash dividends directly deposited into their savings or checking account, thereby providing immediate access to funds and eliminating mail delays and lost or stolen checks. You may enroll online by accessing your shareholder account(s) at www.astfinancial.com or, to obtain an enrollment card, by calling American Stock Transfer & Trust Company, toll-free, at 1-877-715-0449 or Northwest, toll-free, at 1-800-859-1000 or (814) 728-7263. Investor Relations Ronald J. Seiffert Chairman, President and Chief Executive Officer William W. Harvey, Jr. Senior Executive Vice President and Chief Financial Officer Shareholder Relations Jacqueline N. Snell Assistant Vice President, Assistant Controller 24 In addition to historical information, this report may contain certain forward-looking statements that are based on assumptions and information currently available to management, including assumptions as to changes in market interest rates. These forward-looking statements are subject to various risks and uncertainties including, but not limited to, economic, regulatory, competitive, legislative and other factors affecting the company and its operations. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results may differ materially from those expressed or implied. Management has no obligation to revise or update these forward-looking statements to reflect events or circumstances that arise after the release of this report. ©2020 Northwest Bancshares, Inc. 100 Liberty Street PO Box 128 Warren, Pennsylvania 16365 (814) 726-2140 northwest.com