Danyl R. Freeman - 03 May 2024 Form 4 Insider Report for SUMMIT FINANCIAL GROUP, INC.

Footnote F1

SAR vests in 5 equal annual installments with the beginning date indicated.

Footnote F2

The information reported herein is based on a plan statement dated 12/31/2022 received in April 2023

Footnote F3

Between January 1, 2023 and December 31, 2023, acquired 699.3585 shares of Summit Common Stock under the Summit Financial Group, Inc. Employee Stock Ownership Plan.

Footnote F4

Disposed of in accordance with the Agreement and Plan of Reorganization, dated as of August 24, 2023 the ("Merger Agreement"), by and between Summit Financial Group, Inc. ("Summit") and Burke & Herbert Financial Services Corp. ("Burke & Herbert") pursuant to which Summit was merged with and into Burke & Herbert effective May 3, 2024 ("the Merger"). At the effective time of the Merger, each issued and outstanding share of Summit common stock was converted into the right to receive 0.5043 shares of Burke &Herbert common stock (subject to the payment of cash in lieu of fractional shares) (the "Merger Consideration"). As a result of the Merger, the Reporting Person no longer beneficially owns, directly or indirectly, any shares of Summit common stock.

Footnote F5

Pursuant to the Merger Agreement, at the effective time of the Merger, each stock appreciation right was converted into a stock appreciation right of Burke & Herbert (each a "Burke & Herbert Replacement SAR"), with adjustments to the number of shares of Burke & Herbert common stock underlying each Burke & Herbert Replacement SAR and the base price of continuing corporation common stock for each Burke & Herbert Replacement SAR adjusted based on the exchange ratio of 0.5043.