SUMMARY NOTICE TO: ALL PERSONS AND ENTITIES WHO PURCHASED OR ACQUIRED THE COMMON STOCK OF ORRSTOWN FINANCIAL SERVICES, INC. ("ORRSTOWN STOCK") AT ANY TIME FROM MARCH 15, 2010 THROUGH, AND INCLUDING, APRIL 26, 2012

PHILADELPHIA, Feb. 27, 2023 /PRNewswire/ -- The following statement is being issued by Kroll Settlement Administration regarding the Orrstown Securities Settlement.

YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Middle District of Pennsylvania, that a hearing will be held on May 19, 2023, at 10:00 a.m., at the United States District Court for the Middle District of Pennsylvania, Sylvia H. Rambo United States Courthouse, 1501 N 6th St, Harrisburg, PA 17102, before the Honorable Yvette Kane, United States District Judge, for the purpose of determining: (1) whether the proposed Settlement of this Action, as set forth in the Stipulation and Agreement of Settlement dated December 7, 2022 ("Stipulation") reached between the parties, consisting of Fifteen Million Dollars ($15,000,000) in cash, should be approved as fair, reasonable, and adequate to Class Members; (2) whether the release by Class Members of claims as set forth in the Stipulation should be authorized; (3) whether the proposed plan to distribute the Settlement proceeds ("Plan of Allocation") is fair, reasonable, and adequate; (4) whether to approve Lead Counsel's request for an award of attorneys' fees and for reimbursement of litigation expenses; (5) whether this Action should be dismissed with prejudice against Orrstown Financial Services, Inc., Orrstown Bank, Anthony F. Ceddia, Jeffrey W. Coy, Mark K. Keller, Andrea Pugh, Thomas R. Quinn, Jr., Gregory A. Rosenberry, Kenneth R. Shoemaker, Glenn W. Snoke, John S. Ward, Bradley S. Everly, Joel R. Zullinger, Jeffrey W. Embly, Smith Elliott Kearns & Company, LLC, Piper Sandler & Co., and Janney Montgomery Scott LLC, as set forth in the Stipulation; and (6) whether the Judgment, in the form attached to the Stipulation, should be entered.

Please note that the date, time and location of the settlement hearing are subject to change without further notice. If you plan to attend the hearing, you should check the docket, view the Settlement website at www.OrrstownSecuritiesSettlement.com, or contact Lead Counsel (identified below) to be sure that no change to the date, time or location of the hearing has been made.

IF YOU PURCHASED OR ACQUIRED ORRSTOWN STOCK AT ANY TIME FROM MARCH 15, 2010 TO AND INCLUDING APRIL 26, 2012, YOUR RIGHTS WILL BE AFFECTED BY THE SETTLEMENT OF THIS LITIGATION.

If you have not received a detailed Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees, And Settlement Hearing ("Notice") and a copy of the Proof of Claim and Release form ("Claim Form"), you may obtain copies by writing to Orrstown Securities Settlement, c/o Kroll Settlement Administration, P.O. Box 5324, New York, NY, 10150-5324, 833-709-0094, or by visiting www.OrrstownSecuritiesSettlement.com.

If you are a Class Member, in order to share in the distribution of the Net Settlement Fund, you must submit a Claim Form by First-Class mail postmarked no later than June 22, 2023, or submitted electronically no later than June 22, 2023, establishing that you are entitled to recovery. Unless the deadline is extended, your failure to submit your Claim Form by the above deadline will preclude you from receiving any payment from the Settlement.

If you are a Class Member and you desire to be excluded from the Class, you must submit a request for exclusion such that it is postmarked no later than April 28, 2023, in the manner and form explained in the detailed Notice, referred to above. All Class Members who do not timely and validly request exclusion from the Class will be bound by any judgment entered in the Action pursuant to the Stipulation.

If you are a Class Member and want to object to the Settlement, the Plan of Allocation, or Lead Counsel's fee and expense application, the objection must be in the form and manner explained in the detailed Notice, and must be mailed to each of the following recipients, such that it is received no later than April 28, 2023: Clerk's Office: United States District Court, Middle District of Pennsylvania, Sylvia H. Rambo United States Courthouse, 1501 N 6^th St, Harrisburg, PA 17102. Lead Counsel: Nicholas E. Chimicles, Kimberly M. Donaldson-Smith, Timothy N. Mathews, Chimicles Schwartz Kriner & Donaldson-Smith LLP, 361 West Lancaster Avenue, Haverford, Pennsylvania 19041, 610-642-8500. Orrstown's Counsel on Behalf of Defendants: David Creagan, David Edwards, Farzana Islam, White and Williams, LLP, 1650 Market Street, Suite 1800, Philadelphia, Pennsylvania 19103.

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE OR ANY OF THE DEFENDANTS OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above. Additional information about the Settlement can be found at www.OrrstownSecuritiesSettlement.com.

Dated: February 1, 2023
BY ORDER OF THE COURT UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF PENNSYLVANIA

SOURCE Kroll Settlement Administration

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