On March 16, 2020 (the “Redemption Date”), First Merchants Corporation (the “Company”) partially redeemed its Fixed/Floating Rate Junior Subordinated Deferrable Interest Debentures due September 15, 2037 (“Debentures”) in the principal amount of $10,000,000, all of which Debentures are held by First Merchants Capital Trust II (“FMC Trust”). As a result, FMC Trust used the proceeds from such partial redemption to concurrently redeem a like amount of its Capital Securities on the Redemption Date. The aggregate redemption price was $10,436,500, including $436,500 in accrued and unpaid interest to the Redemption Date. Debentures issued by the Company in the principal amount of $41,702,000 remain outstanding. In addition, on February 24, 2020, the Company provided a Notice of Redemption to the holders of $10,000,000 in principal amount of Capital Securities (the “Securities”) of Grabill Capital Trust I (“Grabill Trust”). Pursuant to the Notice, all of the outstanding Securities will be redeemed on April 23, 2020, at a redemption price of 100% of the principal amount plus accrued and unpaid interest, as a result of the concurrent redemption by the Company of a like amount of its Junior Subordinated Debt Securities due July 23, 2034, all of which debt securities are held by Grabill Trust. The aggregate redemption price will be $10,424,833.