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ESSA BANCORP INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of ESSA Bancorp, Inc - ESSA

1. Investigation launched into ESSA Bancorp's sale to CNB Financial. 2. Shareholders will receive 0.8547 shares of CNB for each ESSA share. 3. The law firm questions if the sale undervalues ESSA Bancorp.

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Why Neutral?

Concerns over valuation could lead to short-term volatility in CCNE stock.

How important is it?

The investigation may impact investor sentiment around the merger's perceived value.

Why Short Term?

Immediate investor reactions expected but long-term fundamentals remain stable.

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ESSACCNE
NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of ESSA Bancorp, Inc. (NasdaqGS: ESSA) to CNB Financial Corporation (NasdaqGS: CCNE). Under the terms of the proposed transaction, shareholders of ESSA will receive 0.8547 shares of CNB for each share of ESSA that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company. If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn (lewis.kahn@ksfcounsel.com) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nasdaqgs-essa/ to learn more. To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

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