HBT · HBT Financial, Inc. · Financials

This Agreement is made pursuant to the Subordinated Note Purchase Agreement dated March 11, 2026, by and among the Company and each of the Purchasers (the “Purchase Agreement”), which provides for the sale by the Company to the Purchasers of $85,000,000 aggregate principal amount of the Company’s 5.75% Fixed-to-Floating Rate Subordinated Notes due 2036, which were issued on March 11, 2026 (the “Subordinated Notes”). In order to induce each of the Purchasers to enter into the Purchase Agreement and in satisfaction of a condition to the Purchasers’ obligations thereunder, the Company has agreed to provide to the Purchasers and their respective direct and indirect transferees and assigns the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement.

Issuer evidence: This SUBORDINATED NOTE PURCHASE AGREEMENT (this “Agreement”) is dated as of March 11, 2026, and is made by and among HBT Financial, Inc., a Delaware corporation and registered bank holding company (the “Company”), and the several purchasers of the Subordinated Notes (as defined herein) identified on the signature pages hereto (each a “Purchaser” and collectively, the “Purchasers”).

Supporting evidence: This Agreement is made pursuant to the Subordinated Note Purchase Agreement dated March 11, 2026, by and among the Company and each of the Purchasers (the “Purchase Agreement”), which provides for the sale by the Company to the Purchasers of $85,000,000 aggregate principal amount of the Company’s 5.75% Fixed-to-Floating Rate Subordinated Notes due 2036, which were issued on March 11, 2026 (the “Subordinated Notes”).

Supporting evidence: This Agreement is made pursuant to the Subordinated Note Purchase Agreement dated March 11, 2026, by and among the Company and each of the Purchasers (the “Purchase Agreement”), which provides for the sale by the Company to the Purchasers of $85,000,000 aggregate principal amount of the Company’s 5.75% Fixed-to-Floating Rate Subordinated Notes due 2036, which were issued on March 11, 2026 (the “Subordinated Notes”).

1. Subordinated Notes. This Subordinated Note is one of a duly authorized issue of notes of HBT Financial, Inc., a Delaware corporation and a bank holding company (the “Company”), designated as the “5.75% Fixed-to-Floating Rate Subordinated Notes due 2036” (the “Subordinated Notes”) in an aggregate principal amount of $85,000,000 and initially issued on March 11, 2026. The Company has issued this Subordinated Note under (a) that certain Indenture dated as of March 11, 2026, as the same may be amended or supplemented from time to time (“Indenture”), between the Company and UMB Bank, N.A., a national bank organized under the laws of the United States of America, as Trustee (the “Trustee”), and (b) that certain Subordinated Note Purchase Agreement concerning the Subordinated Notes, dated March 11, 2026, by and among the Company and the purchasers identified therein. All capitalized terms not otherwise defined in this Subordinated Note will have the meanings assigned to them in the Indenture. The terms of this Subordinated Note include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). This Subordinated Note is subject to all such terms, and the Holder (as defined below) is referred to the Indenture and the Trust Indenture Act for a statement of such terms. To the extent any provision of this Subordinated Note irreconcilably conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and be controlling.

Issuer evidence: 1. Subordinated Notes. This Subordinated Note is one of a duly authorized issue of notes of HBT Financial, Inc., a Delaware corporation and a bank holding company (the “Company”), designated as the “5.75% Fixed-to-Floating Rate Subordinated Notes due 2036” (the “Subordinated Notes”) in an aggregate principal amount of $85,000,000 and initially issued on March 11, 2026. The Company has issued this Subordinated Note under (a) that certain Indenture dated as of March 11, 2026, as the same may be amended or supplemented from time to time (“Indenture”), between the Company and UMB Bank, N.A., a national bank organized under the laws of the United States of America, as Trustee (the “Trustee”), and (b) that certain Subordinated Note Purchase Agreement concerning the Subordinated Notes, dated March 11, 2026, by and among the Company and the purchasers identified therein. All capitalized terms not otherwise defined in this Subordinated Note will have the meanings assigned to them in the Indenture. The terms of this Subordinated Note include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). This Subordinated Note is subject to all such terms, and the Holder (as defined below) is referred to the Indenture and the Trust Indenture Act for a statement of such terms. To the extent any provision of this Subordinated Note irreconcilably conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and be controlling.

Supporting evidence: 1. Subordinated Notes. This Subordinated Note is one of a duly authorized issue of notes of HBT Financial, Inc., a Delaware corporation and a bank holding company (the “Company”), designated as the “5.75% Fixed-to-Floating Rate Subordinated Notes due 2036” (the “Subordinated Notes”) in an aggregate principal amount of $85,000,000 and initially issued on March 11, 2026. The Company has issued this Subordinated Note under (a) that certain Indenture dated as of March 11, 2026, as the same may be amended or supplemented from time to time (“Indenture”), between the Company and UMB Bank, N.A., a national bank organized under the laws of the United States of America, as Trustee (the “Trustee”), and (b) that certain Subordinated Note Purchase Agreement concerning the Subordinated Notes, dated March 11, 2026, by and among the Company and the purchasers identified therein. All capitalized terms not otherwise defined in this Subordinated Note will have the meanings assigned to them in the Indenture. The terms of this Subordinated Note include those stated in the Indenture and those made part of the Indenture by reference to the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”). This Subordinated Note is subject to all such terms, and the Holder (as defined below) is referred to the Indenture and the Trust Indenture Act for a statement of such terms. To the extent any provision of this Subordinated Note irreconcilably conflicts with the express provisions of the Indenture, the provisions of the Indenture will govern and be controlling.