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First Merchants Corporation 7.50% Non-Cumulative Perpetual Stock Series B

Originally issued by Level One Bancorp which was acquired by First Merchants effective 4/1/2023

Ticker: FRMEP

Parent Ticker: FRME

OTC Grey Market Temporary Ticker: NA

Issuance Date:

1st Call Date: Anytime

Maturity Date: None

Shares Issued: 1,000,000

Overallotment Shares: 0

Coupon: 7.50%

Face Value: $0.46875

Cumulative: No

Qualified: Yes

Quarterly Dividend Amount: 0.4688

Payment Months: FEB, MAY, AUG, NOV

Payment Day: 15

S&P Rating: NR

III Rating (In Regards to Dividend Safety Only): C

Moody Rating: NR

Fitch Rating: NR

Egan-Jones Rating: NR