Material Event Form 8 K

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The Board of Directors of Old Second Bancorp, Inc. (the "Company") has authorized the repurchase of up to $39.1 million of shares of the Company's common stock (the "Repurchase Program"). On December 16, 2024, the Federal Reserve Bank of Chicago (the "Federal Reserve") informed us of their non-objection for the Repurchase Program. Repurchases by the Company under the Repurchase Program may be made from time to time through open market purchases, trading plans established in accordance with U.S. Securities and Exchange Commission rules, privately negotiated transactions, or by other means.

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The actual means and timing of any repurchases, quantity of purchased shares and prices will be, subject to certain limitations, at the discretion of management and will depend on a number of factors, including, without limitation, market prices of the Company's common stock, general market and economic conditions, and applicable legal and regulatory requirements. Repurchases under the Repurchase Program may be initiated, discontinued, suspended or restarted at any time; provided, that repurchases under the Repurchase Program after December 31, 2025 would require Federal Reserve non-objection or approval. The Company is not obligated to repurchase any shares under the Repurchase Program.

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