United Community Banks, Inc. and Peach State Bancshares, Inc. Announce Election Deadline for Peach State Shareholders to Elect Form of Merger Consideration and Expected Closing Date

United Community Banks, Inc. (NYSE: UCB) (“United”) and Peach State Bancshares, Inc. (“Peach State”) announced today the election deadline by which Peach State shareholders of record may elect the form of consideration that they prefer to receive as merger consideration pursuant to the Agreement and Plan of Merger, dated as of April 20, 2026, by and between United and Peach State (the “Merger Agreement”). The election deadline is 5:00 p.m. Eastern Time on July 20, 2026.

United and Peach State also announced that United has received all required regulatory approvals to acquire Peach State and that the closing of the transaction is expected to occur on August 3, 2026, subject to the satisfaction or waiver of the remaining closing conditions set forth in the Merger Agreement, including the approval of Peach State shareholders.

Peach State shareholders of record wishing to make an election must deliver to Continental Stock Transfer & Trust Company (“Continental”) a properly completed election form and letter of transmittal and any other applicable election materials including their Peach State stock certificates by the election deadline of 5:00 p.m. Eastern Time on July 20, 2026.

Peach State shareholders who are missing Peach State stock certificates may submit a properly completed election form and letter of transmittal and a notice of guaranteed delivery by the election deadline and then must ensure their stock certificates (or replacement certificates) are received by Continental by 5:00 p.m., Eastern Time on July 27, 2026.