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Q3 2026 EARNINGS INVESTOR PRESENTATION October 27, 2026
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23Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to First Busey Corporation’s (“Busey’s”) financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of Busey’s management and on information currently available to management, are generally identifiable by the use of words such as “believe,” “expect,” “anticipate,” “plan,” “intend,” “estimate,” “may,” “will,” “would,” “could,” “should,” “position,” or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond Busey’s ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy) ; (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey's general business) ; (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, military conflicts, acts of war or threats thereof, or other adverse external events that could increase levels of political and economic unpredictability, contribute to rising energy and commodity prices, affect global supply chains, increase the volatility of financial markets, and other matters beyond our control (including the conflicts in the Middle East and Russia’s invasion of Ukraine) ; ( 4) unexpected results of acquisitions, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated ; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey's commercial borrowers ; (6) the impact of bank failures or adverse developments at other banks and related negative publicity about the banking industry, including investor and depositor sentiment regarding bank stability and liquidity ; (7) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (8) changes in interest rates and prepayment rates of Busey’s assets (including as a result of the recent increase in the benchmark federal funds rate by the Federal Reserve) ; (9) increased competition in the financial services sector (including from non-bank competitors such as credit unions, digital asset service providers, private credit, and fintech companies) and the inability to attract new customers ; ( 10) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence ; (11) the loss of key executives or associates, talent shortages, and employee turnover ; (12) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey’s Illinois franchise taxes) ; (13) fluctuations in the value of securities held in Busey’s securities portfolio, including as a result of changes in interest rates ; (14) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry) within Busey's loan portfolio and large loans to certain borrowers (including commercial real estate loans) ; (15) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure ; ( 16) the level of non-performing assets on Busey’s balance sheets ; (17) interruptions involving information technology and communications systems or third-party vendors ; (18) breaches or failures of information security controls or cybersecurity- related incidents; (19) the availability of future equity and debt issuances and other capital raising opportunities on favorable terms ; (20) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts ; (21) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey's cost of funds ; (22) the ability to maintain an adequate level of allowance for credit losses on loans ; (23) the effectiveness of Busey’s risk management framework ; and (24) the ability of Busey to manage the risks associated with the foregoing . These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning Busey and its business, including additional factors that could materially affect Busey’s financial results, is included in Busey’s filings with the Securities and Exchange Commission. Forward-Looking Statements
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33Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Table of Contents Overview of First Busey Corporation (BUSE) 4 3Q26 Review 5 Earnings Performance 6 Investment Highlights 7 Strategically Configured Regional Operating Model 8 High Quality Loan Portfolio 9 Strong Credit Quality 10 Top Tier Core Deposit Franchise 11 Net Interest Margin 12 Diversified and Significant Sources of Noninterest Income 13 Wealth Management 14-15 Focused Control on Expenses 16 Robust Capital Foundation 17 Appendix: 18 Seasoned Leadership Team 19 Purchase Accounting Projections 20 Non-GAAP Financial Information 21
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43Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Overview of First Busey Corporation (NASDAQ: BUSE) Holding company of a 158+ year old bank Corporate headquarters in Leawood, KS $18.6 Billion Total Assets 1 $16.7 Billion Wealth Assets Under Care 1 $2.5 Billion Market Cap 1 1 Total Assets and Wealth Assets Under Care as of 9/30/26. Market cap as of 10/26/26 A full suite of solutions provided to our clients for every stage of their business and personal life
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53Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 1 Non-GAAP calculations, see Appendix 3Q26 Review Financial Results Metric 2Q26 3Q26 Adj. Diluted EPS 1 $0.69 $0.63 Adj. Net Income to Common S/H 1 $59 million $53 million Total Operating Revenue 1 $194 million $194 million Net Interest Margin 1 3.72% 3.58% Adj. Net Interest Margin 1 3.62% 3.46% Net Interest Income $152 million $153 million Adj. Noninterest Income 1 $42 million $41 million Adj. Pre-Provision Net Revenue 1 $85 million $84 million Adj. PPNR ROAA 1 1.90% 1.80% Adj. ROAA 1 1.43% 1.23% Adj. ROATCE 1 14.61% 13.25% Efficiency Ratio 1 54.0% 54.4% Total Assets $18.2 billion $18.6 billion Total Loans $13.2 billion $12.8 billion Total Deposits $15.1 billion $15.5 billion TBV / Share 1 $20.40 $19.37 ▪ Assets Under Care of $16.7 billion at 9/30/26, up $1.8 billion YoY, or 12%, as net AUC inflows across our footprint augmented rising market impact ▪ 3Q26 Wealth revenue of $20 million, up 15% YoY, with a pre-tax profit margin of 50.3% in 3Q26 Wealth management exhibits excellent performance ▪ CET1 at 12.47%, up 14 bps YoY. Ex-AOCI, TBV per share up 3% YoY and up 7% inclusive of dividends ▪ Since embarking on share repurchase initiative in March 2025, repurchased ~11% of the total common shares that were outstanding at 3/31/25 and returned $258 million to shareholders via buybacks Capital capacity remains compelling as share repurchase initiative continues ▪ Deposits increased by $409 million during 3Q26, or 11% annualized, driven by strategic efforts to grow core client deposits, and accompanied intentional runoff of $50 million of brokered deposits during the quarter. This followed a 2Q26 deposits increase of $393 million, 11% annualized, and loan-to-deposit ratio is now at 82.5% compared to 91.0% as of 12/31/25 ▪ Loans declined by $373 million impacted by payoff headwinds and due to the reclassification of a ~$65 million pool of commercial lender finance loans into held for sale during 3Q26 (sale completed on 10/1/26 for a small premium). Asset quality in the overall portfolio remains healthy relative to peers with NPAs / Assets of 0.45% Sustained sequential deposit growth amid anticipated loan attrition as overall asset quality remains healthy ▪ One $38 million credit relationship in the Central region was moved to nonaccrual, resulting in a $10 million net charge-off and an $18 million specific reserve. Consequently, 3Q26 net credit provision expense increased to $9.6 million, compared to $2.2 million in 2Q26 and $3.1 million in 1Q26 ▪ Profitability remained solid at 1.23% adj. ROAA1, a 13.25% adj. ROATCE1, and 54.4% efficiency ratio1 Stable revenue driven by growing net interest income, but provision expense was above prior periods which pressured profitability $153.2 $41.1 -$110.3 -$9.6 -$16.7 -$0.5 -$4.6 $52.6 Net Interest Income Adj. Noninterest Income¹ Adj. Noninterest Expense¹ Provision for credit losses Income Taxes Reversal of tax benefit from non-operating costs Preferred Dividend Adj. Net Income to Common Shareholders¹ 3Q26 Summary Income Statement 22.98% Effective Tax Rate 1.28% Allowance/Loans $ in millions Common Shares Repurchased Average Price $ Return to Shareholders FY 2025 3.06 million $22.81 $69.9 million 1Q26 2.62 million $25.07 $65.6 million 2Q26 2.34 million $26.98 $63.1 million 3Q26 1.97 million $30.21 $59.6 million Total 9.99 million $25.84 $258.2 million Repurchase Plan Update +0.5% QoQ (-0.1% ex-PAA) -1.8% QoQ +0.7% QoQ
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63Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $13.05 $31.81 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 2026 Q3 $10 $20 $30 $57.4 $60.6 $58.6 $59.1 $52.6 $0.64 $0.68 $0.67 $0.69 $0.63 Adj. Net Income Avail. to Common S/HAdj. EPS 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 14.0% 14.3% 14.1% 14.6% 13.2% 1.33% 1.41% 1.42% 1.43% 1.23% Adj. ROATCE Adj. ROAA 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 1 Non-GAAP calculation, see Appendix | 2 Includes cumulative dividends per share over the period | 3 Market Data for BUSE updated to close on 10/26/26 Earnings Performance Adjusted Net Income & Earnings Per Common Share 1 Adjusted ROATCE & Adjusted ROAA 1 $ in millions 2021 Q3 2022 Q3 2023 Q3 2024 Q3 2025 Q3 2026 Q3 $0.40 $0.50 $0.60 $0.70 $0.80 Earnings Track Record: Adjusted EPS1 5-Year Trend +10% CAGR +$18.76 Current common stock dividend yield of 3.4%3 Tangible Common BV 1 / Share (ex-AOCI) + Dividends 2
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73Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Attractive Profitability and Returns Disciplined Growth Strategy Driven by Regional Operating Model Balance Sheet Strength 1 Non-GAAP calculation, see Appendix | 2 3Q26 capital ratios are preliminary estimates | 3 Most recent quarter reported for KRE components as of 10/26/26 | 4 Market Data for BUSE updated to close on 10/26/26 5 Based on consensus median net income of covering analysts as of 10/26/26 Investment Highlights ▪ Significantly improved ROAA1 and Efficiency Ratio1 with initiatives undertaken over the last twelve months ▪ Organic growth powered by an approach that brings the full capabilities of commercial, wealth, and payments to each community through local leadership and autonomy $ in billions 3Q26 KRE Median MRQ 3 Total Assets $18.6 $11.6 Total Loans $12.8 $8.3 Total Deposits $15.5 $9.2 Total Wealth AUC $16.7 NM TCE Ratio1 8.7 % 8.8 % CET1 Ratio2 12.5 % 12.6 % NPA/Assets 0.45 % 0.49 % Net Interest Margin 1 3.58 % 3.76 % Adj. Nonint. Income % of Operating Revenue 1 21.2 % 16.6 % Adj. PPNR ROAA 1 1.80 % 1.89 % Adj. ROAA 1 1.23 % 1.39 % Adj. ROATCE 1 13.25 % 15.06 % Efficiency Ratio 1 54.4 % 54.9 % Market Cap 4 $2.5 $1.8 Dividend Yield 4 3.4% 2.6 % Price / TBV 4 1.6x 1.6x Price / 2026E 5 11.3x 11.5x Financial Highlights Core Deposits Asset Quality Robust Capital Efficient Profits Dividends Share Repurchases ▪ 94.0% core deposit1 base that is granular and low cost at 1.93% total cost of deposits in 3Q26 ▪ Robust capital foundation with capital ratios at a $800 million+ excess over well-capitalized minimums with capital buffer2 ▪ High quality, conservatively underwritten loan portfolio with low levels of concentration; strong reserve levels with allowance/loans at 1.28% ▪ Active share repurchase program: since March 2025, buybacks representing ~11% of outstanding common shares and returning $258 million to shareholders ▪ Quarterly common stock dividend of $0.26 (3.4% yield)4, with dividend payout ratio ranging from 37%-41% in the last twelve months ▪ Executed nine strategic acquisitions over the last eleven years to enhance franchise value without unduly diluting shareholders, including the TBV-accretive acquisition of $7.5 billion asset CrossFirst in March 2025 ▪ Wealth Management AUC of $16.7 billion at 9/30/26, up 12% YoY, supported by net new inflows including from new Western markets
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83Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Strategically Configured Regional Operating Model Focused on bringing the full breadth of commercial, wealth, and payments to provide a broad set of financial solutions to well-capitalized individuals and the companies they own & operate Life Equity Lending Structured Finance Energy Banking SBA Lending $8B deposits $2B deposits $5B loans $14B AUC $3B AUC $2B loans $3B deposits $2B loans $1B deposits $1B loans $1B deposits $1B loans $1B loans Enterprise-wide sales structure is organized by region – bringing full capabilities and the complete Busey experience to each community through local leadership and autonomy Notes: Balances based on origination location; data as of 9/30/26 $0.2B AUC
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93Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Commercial & Industrial 30% Owner- Occupied CRE 11% Non-Owner- Occupied CRE 30% Real Estate Construction 8% Residential Real Estate 16% Other 5% 1 Capital is Busey Bank Tier 1 Capital (preliminary estimates) + Allowance for credit losses | 2 Most recent quarter reported for KRE components as of 10/26/26 | 3 Based on loan origination 4 Includes $11.4 million of net charge-offs, which represent an immaterial percentage of other payoffs Classified Assets / Capital 1 NPLs / Total Loans 10.6% 0.64% KRE Mean MRQ 2 KRE Mean MRQ 2 13.0% 0.72% High Quality Loan Portfolio Loan Portfolio Regional Segmentation 3 Loan Portfolio Composition Total Loan Portfolio: $12.8 Billion Commercially-oriented portfolio is well-diversified by sector and geographic location and conservatively underwritten with low levels of concentration Portfolio 2026 Q2 QoQ ∆ 2026 Q3 % of Total East (Chicago, Southwest FL) $2,549 -$116 $2,433 19.0 % Midwest (Central IL, Indy, St. Louis) $4,597 -$11 $4,586 35.8 % Central (KC, Wichita, OKC, Tulsa) $1,896 +$20 $1,916 14.9 % Texas (Dallas, Fort Worth) $1,615 -$221 $1,394 10.9 % West (AZ, CO, NM) $1,072 +$22 $1,094 8.5 % Verticals $1,466 -$67 $1,399 10.9 % Total Loans $13,195 -$373 $12,822 100 % West region produced growth of 2% QoQ; driven by production from new hires and existing teams in Phoenix and Denver markets $ in millions 7.06% 6.35% 6.49% 6.23% 6.32% 6.20% 6.10% 6.03% 5.97% 5.99% 4.35% 4.09% 3.68% 3.63% 3.64% Net New Funding Yield Loan Yield SOFR 30D (Avg) 9/30/25 12/31/25 3/31/26 6/30/26 9/30/26 Loan Yield +$407 +$21 -$65 -$592 -$143 New Loan Production Net Line of Credit Draws Lender Finance Loan pool moved to held for sale Payoffs⁴Amortization -$400 +$600 Commercial Loans / Total Portfolio 79% 100/300 Test 46% C&D / 218% CRE 3Q26 Loan Balances Change Life Equity Lending continued to provide strong loan production that partially offset declines in other verticals Disciplined loan pricing remains a key enterprise-wide priority Anticipated QoQ balance decline influenced by loan pool sale, and payoff headwinds that are expected to continue into 4Q26 $ in millions As of 9/30/26 Texas region loan balances pressured by payoff headwinds during the quarter. Also reclassified a ~$65 million pool of lender finance commercial loans into held for sale, then completed sale on October 1 for an expected small gain in 4Q26 East region experienced forecasted payoff and paydown pressures in Chicagoland
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103Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE ▪ Our conservative approach to credit risk management has resulted in a continued legacy of strong and stable credit quality ▪ Loans 90+ days past due and still accruing of $0.7 million at 9/30/26, or 0.01% of total loans, and loans 30-89 days past due represent 0.13% of total loans ▪ OREO and repossessed asset balances total $2.0 million at 9/30/26 ▪ NPAs increased by $13.3 million QoQ, primarily due to one $37.6 million commercial relationship in the Central region that had previously been risk rated special mention. Due to emerging circumstances, the relationship was moved to nonaccrual status, incurred a partial charge-off of $10.0 million, and was allocated an individual reserve of $17.8 million against the remaining $27.6 million balance at 9/30/26. As a result, 3Q26 net credit provision expense increased to $9.6 million, compared to $2.2 million in 2Q26. ▪ Excluding the $10.0 million charge-off related to this one credit relationship, NCOs would have been 0.04% in 3Q26 1 Average loans was calculated as the average of the ending portfolio loan balances over the most recent four quarters Strong Credit Quality Nonperforming Assets / Total Assets Net Charge-Offs / Average Loans (Annualized) 1 0.06% 0.19% 0.32% 0.28% 0.39% 0.45% 0.40% 0.52% 0.55% 0.57% 0.58% Busey KRE Mean 2023 YE 2024 YE 2025 YE 2026 Q1 2026 Q2 2026 Q3 $ in millions $ in millions BUSE NPAs $7.9 $23.3 $58.1 $49.9 $70.3 $83.6 BUSE NCOs $5.8 $5.8 $7.4 $6.4 $11.4 0.17% 0.17% 0.22% 0.19% 0.35%0.32% 0.26% 0.23% 0.26% Busey KRE Mean 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 ▪ Reserves + purchase accounting marks / loans = 1.84% ▪ Allowance to Nonperforming Loans coverage of 2.01x Allowance / Loans 1.20% 1.08% 1.28% 1.26% 1.24% 1.28% 1.22% 1.24% 1.23% 1.23% 1.22% Busey KRE Mean 2023 YE 2024 YE 2025 YE 2026 Q1 2026 Q2 2026 Q3
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113Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $15,070 $14,906 $14,736 $15,129 $15,538 2.15% 1.91% 1.81% 1.80% 1.93% Total Deposits Total Cost of Deposits 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Noninterest- bearing 22.1% Interest-bearing 22.8% Savings & Money Market 39.6% Brokered 0.1% Time <250k 9.5% Time >250k 5.9% 1 Non-GAAP calculation, see Appendix Top Tier Core Deposit Franchise Deposit Portfolio Composition Total Deposits: $15.5 Billion As of 9/30/26 ▪ Spot total cost of deposits was 1.97% at 9/30/26, compared to spot cost of 1.87% at 6/30/26 and 3Q26 total average cost of deposits of 1.93% 4Q26 1H27 2H27 Balances ($ millions) $755 $1,224 $315 Weighted Average Rate 3.5 % 3.4 % 3.8 % CD Maturity Schedule as of 9/30/26 ▪ New CD production in 3Q26 had a weighted-average term of 9.2 months and a weighted-average rate of 3.5% $194 million Average Deposits per Branch Low Cost, Granular Deposit Base with an Efficient Branch Footprint 82.5% Loan-to-Deposit Ratio 94.0% Core Deposits1 1.93% MRQ Average Cost of Deposits 34% % of Total Deposits priced at 1 bp or less Deposit Portfolio Trend $ in millions +$802 million, or 5%, over last 2 quarters
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123Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $155.1 $157.6 $154.0 $152.4 $153.1 $149.2 $152.4 $148.6 $148.2 $148.0 $5.9 $5.2 $5.4 $4.2 $5.2 Net Interest Income ex-PAA Purchase Accounting Accretion 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 5.63% 5.63% 5.53% 5.47% 5.43% 2.22% 1.97% 1.89% 1.89% 1.99% 3.58% 3.71% 3.77% 3.72% 3.58% Earning Assets Cost of Funds NIM 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 1 Tax-equivalent adjusted amounts; Non-GAAP, see Appendix 2 Based on a static balance sheet that is projected over one- and two-year time horizons, with net interest income calculated under current market rates assuming permanent instantaneous shifts $ in millions Net Interest Margin Trend 1Net Interest Income Trend Net Interest Margin Note: Company Purchase Accounting Schedule in appendix Avg IE Assets ($B) $17.27 $16.94 $16.67 $16.51 $17.06 4Q26 2027 2028 Roll-off Cash Flow ($ millions) $90 $342 $374 Approximate Roll-off Yield 3.4 % 3.4 % 3.7 % 4Q26 2027 2028 Balances ($ millions) $389 $992 $679 Weighted Average Rate 4.9 % 5.0 % 5.3 % Scheduled Maturities / Repricing of Fixed Rate Loans Roll-off of Securities Continue to benefit from the substantial amount of low-yield loans and securities rolling off into higher-yield products 3Q26 Net New Loan Funding Yield: 6.32% New Securities purchased at: ~5.10% Net Interest Income Rate Sensitivity 2 Rate Shock Year 1 NII Impact Year 2 NII Impact +200 bps +2.5 % +2.9 % +100 bps +1.5 % +1.7 % -100 bps -0.6 % -1.6 % -200 bps -0.4 % -2.7 % Balance sheet remains well-positioned for rate neutrality Reported Ex-PAA Net Interest Income +$0.7 million 0.5% -$0.2 million -0.1% Net Interest Margin -14 bps -16 bps ▪ As expected, -12 bps in NIM decline was due to higher cash balances during the quarter as a result of recent significant success in growing deposits (average cash balances of $689 million during 3Q26 compared to $124 million during 2Q26). Expect NIM to modestly improve in 4Q26. ▪ Nonaccrual-related interest income reversals during 3Q26 pressured NII by -$0.6 million, and NIM by -2 bps ▪ Purchase Accounting Accretion contribution to NII increased by $1.0 million QoQ due to higher than expected payoffs of discount marked loans, while ex-PAA net interest income was relatively stable, down -0.1% QoQ Change in NII and NIM 3.08% 3.33% 3.45% 3.59% 3.64% 3.62% 3.46% 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Ex-PAA NIM Trend
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133Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Payment Technology Solutions includes lockbox/ACH payment processing, merchant services, online payments, and other electronic payments Treasury Management Services includes commercial cash management services, wires, and other commercial business service charges 1 3Q26 adjusted noninterest income contributed 21.2% of total operating revenue (excludes net securities gains) 279.2% of 3Q26 adjusted noninterest income is contributed by wealth management fees, wealth management referral income included in other noninterest income, payment technology solutions revenue, revenue lines managed by treasury management division (treasury management services revenue and corporate credit card interchange), and capital markets 3 Non-GAAP calculation, see Appendix | 4 Approximately $0.2 million and $0.1 million of Other Noninterest Income was attributable to the wealth segment in 2Q26 and 3Q26, respectively $196.7 $200.9 $197.2 $194.3 $194.3 $41.5 $43.4 $43.2 $41.9 $41.1 $155.1 $157.6 $154.0 $152.4 $153.1 21.1% 21.6% 21.9% 21.6% 21.2% Adj. Nonint. Inc. Net Interest Income Adj. Nonint. Inc./Op. Rev. 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 $ in millions Noninterest Income Detail 2025 Q3 YoY Change 2026 Q3 % of Total (Adj.) Wealth Management Fees $17,184 +15 % $19,846 48.3 % Payment Technology Solutions 5,092 0 % 5,108 12.4 % Treasury Management Services 4,228 +14 % 4,824 11.7 % Capital Markets 1,936 -24 % 1,472 3.6 % Card Services and ATM Fees 4,799 -1 % 4,733 11.5 % Other Service Charges on Deposit Accounts 1,617 -16 % 1,361 3.3 % Income on Bank Owned Life Insurance 1,623 +2 % 1,659 4.0 % Other Noninterest Income4 5,007 -58 % 2,102 5.1 % Adjusted Noninterest Income $41,486 -1 % $41,105 100 % Net Securities Gains (Losses) (288) (703) Total Noninterest Income $41,198 -2 % $40,402 $ in thousands Adjusted Noninterest Income / Operating Revenue 3 Sources of Noninterest Income Diversified and Significant Sources of Noninterest Income YoY decrease in other noninterest income is primarily due to a large positive other asset valuation that occurred in 3Q25; these other asset valuations will typically fluctuate. Additionally, 3Q26 other noninterest income was negatively impacted by $0.7 million due to reclassifying a pool of lender finance commercial loans into held for sale, which triggered a lower-of-cost-or-market adjustment, primarily attributable to the purchase premium assigned to these loans at the CrossFirst acquisition. 21.2% 79.2% Wealth + Payments/Treasury Management + Capital Markets As a percentage of Total Noninterest Income 2 3Q26 Card Services line item includes $1.2 million of interchange fees from corporate credit cards that are managed by Treasury Management team Adjusted Noninterest Income As a percentage of Total Revenue 1 Capital markets team built out in 2H25 and includes directors of derivatives, syndications, and international banking. Capital markets income is tied to loan production and to a certain extent, volatility of interest rates.
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143Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE $17.4 $18.3 $19.5 $20.1 $20.0 $7.5 $8.5 $9.4 $9.9 $10.043.0% 46.6% 48.2% 49.0% 50.3% Revenue Pre-Tax Income ² Pre-Tax Profit Margin ² 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 $14,959 $15,657 $15,647 $16,506 $16,720 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 ▪ Strong growth in Assets Under Care (AUC) as net inflows have augmented market growth over the last twelve months 1 Wealth Management segment | 2 1Q26 wealth management pre-tax income is adjusted to exclude non-operating expenses $ in millions $ in millions Wealth Management Wealth Revenue Composition 1 % of Total WM Revenue 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Trust / Agency 86.2 % 86.3 % 83.6 % 82.7 % 89.0 % Brokerage 8.0 % 8.2 % 7.7 % 7.4 % 8.0 % Ag Services 0.6 % 1.6 % 6.7 % 3.0 % 1.5 % Tax & Financial Planning 0.6 % 0.5 % 0.5 % 4.0 % 0.5 % Estate Settlement 3.4 % 2.2 % 0.5 % 2.0 % 0.5 % Other 1.1 % 1.1 % 1.0 % 1.0 % 0.5 % Total 100 % 100 % 100 % 100 % 100 % $16.7 Billion Assets Under Care LTM Revenue 1$77.9 Million ▪ 3Q26 Wealth revenue1 of $20.0 million, a YoY increase of 15% ▪ Pre-tax profit margin2 of 50.3% in 3Q26 and 48.5% over the last twelve months Wealth Revenue 1 and Pre-Tax Income 2Assets Under Care Integrated comprehensive capabilities to serve Personal & Institutional Clients ▪ Sustained momentum in net new inflows has contributed to YoY AUC growth ▪ New wealth teams established in Kansas City, Wichita, Oklahoma City, Dallas, Denver, and Phoenix over the last twelve months ▪ AUC in these new Western markets has grown to $231 million as of 9/30/26, with robust AUC in pipelines LTM PT Margin 248.5% Typical seasonal revenue declines from Tax & Financial Planning and Ag Services, and lower Estate Settlement results in slight overall Wealth revenue decline, despite core Trust/Agency revenue increasing 7% QoQ AUC is up $1.8 billion YoY, or 12%
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153Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Wealth Management Comprehensive and Integrated Core Capabilities to Serve Personal and Institutional Clients Firm continuity may depend heavily on the investment expertise of a few key professionals Variety of solutions likely to be limited due to resource constraints Proactive client engagement with a tailored, client- focused approach Flat nature of organization allows for access to decision-makers Client accessibility to team can be limited due to large spread of client base Service can become standardized as focus shifts to scalability & driving growth Access to varied solutions providing optionality for specific client needs Comprehensive wealth platform covering all primary services Enterprise-wide team collaborating to develop the best solutions for the client; seamless interconnectivity with bank services Personalized client prospecting and relationship management programs with scalability Large Advisory Firms Boutique Investment Firms Fully Internalized Investment Office Experienced & credentialed team using specialized research and analysis to develop adaptive, tax efficient investment strategies Uniquely positioned to combine the capabilities of larger advisory firms with the personalized approach of a boutique investment firm INVESTMENT MANAGEMENT FINANCIAL PLANNING TAX PLANNING & PREPARATION PRIVATE CLIENT TRUST SERVICES LEGACY PLANNING AG SERVICES HOUSEHOLD OPERATIONS Nearly 160 year-old firm with an uncompromised commitment to always act in the best interest of our clients, guiding decisions on what matters most and building a path to multigenerational success Core satellite portfolios have produced outperformance vs. benchmarks1 in 1-Year, 3-Year, 5-Year, and 7-Year measurement periods 1 Busey Wealth Management’s blended portfolio returns vs. blended benchmark of 60% MSCI All-Country World Index and 40% Bloomberg Intermediate Govt/Credit Index
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163Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 60.2% 61.8% 58.7% 55.3% 54.8%55.0%54.8% 54.0%54.4% 2024 Q32024 Q42025 Q12025 Q22025 Q32025 Q42026 Q12026 Q22026 Q3 $ in millions 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Noninterest Expense $120.0 $120.3 $129.5 $112.6 $111.4 Acquisition & Restructuring Expenses (-) $7.2 $4.8 $16.7 $3.1 $1.1 Adjusted NIE 1 $112.8 $115.5 $112.8 $109.5 $110.3 Amortization of Intangibles (-) $4.5 $4.4 $4.3 $4.2 $4.2 Adjusted NIE excluding Amortization of Intangibles 1 $108.3 $111.1 $108.5 $105.3 $106.1 1 Non-GAAP, see Appendix | Note: Certain totals above may not tie exactly due to rounding. Detail amounts can be found in Non-GAAP table within Appendix Noninterest Expense Focused Control on Expenses $ in millions 2026 Q2 QoQ Change 2026 Q3 % of Total Adj. Salaries & Benefits $65.6 +0.2% $65.7 59.6 % Data processing $8.9 +5.6% $9.4 8.5 % Occupancy & Equipment $10.2 +2.9% $10.5 9.5 % Professional fees $2.3 +8.7% $2.5 2.3 % Amort. of intangible assets $4.2 0.0% $4.2 3.8 % Other NIE $18.3 -1.6% $18.0 16.3 % Adjusted NIE 1 $109.5 +0.7% $110.3 100 % ▪ Company priority to continue delivering positive operating leverage over the long run: Positive operating leverage of 1.2% year-to-date ▪ Expense discipline offset headwinds from loan contraction ▪ Adjusted NIE (including amortization of intangibles) increased 0.7% QoQ ▪ Continue to be mindful and diligent on expenses, focused on employing the best talent and deploying a best-in-class product set to position the company for efficient future growth ▪ Operating revenue1 per employee is $107k at 9/30/2026 compared to $78k at 12/31/2024, up 38% since 12/31/2024 ▪ Expect 4Q26 adjusted NIE of $113-$114 million ▪ Successfully delivered significant cost synergies since acquisition of CrossFirst Bankshares on 3/1/2025 Efficiency Ratio 1 Trend Adjusted Noninterest Expense Summary
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173Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 39% 37% 39% 37% 41% 63% 86% 151% 144% 155% Dividend Payout Ratio Payout Ratio with Dividends & Share Repurchases 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 —% 50% 100% 150% $1,908 $1,920 $1,880 $1,859 $1,836 12.3% 12.4% 12.3% 12.5% 12.5% 7.0% Common Equity Tier 1 CET1 Ratio Min + Buffer Ratio 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 $1,748 $1,773 $1,722 $1,697 $1,574 9.9% 10.1% 9.8% 9.6% 8.7% TCE TCE Ratio 2025 Q3 2025 Q4 2026 Q1 2026 Q2 2026 Q3 Tangible Common Equity 1 1 Non-GAAP calculation, see Appendix | 2 3Q26 capital ratios are preliminary estimates 3 Common dividends and share repurchases during period divided by adjusted net income available to common shareholders during period $ in millions Common Equity Tier 1 Ratio Tier 1 Capital Ratio Total Capital Ratio Capital Ratio 12.5 % 14.0 % 16.1 % Minimum Well Capitalized with Capital Buffer 7.0 % 8.5 % 10.5 % Amount of Capital $1,836 $2,059 $2,372 Well Capitalized Minimum with Buffer $1,031 $1,252 $1,547 Excess over Well Cap. Min. with Buffer $805 $807 $825 $ in millions $ in millions Robust Capital Foundation Common Equity Tier 1 2 Consolidated Capital as of 9/30/26 2Adjusted Common Stock Payout Ratio 3 AOCI declined $101 million in 3Q26 vs. 2Q26, contributing to the majority of the decline in the TCE Ratio
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Appendix
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193Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Seasoned Leadership Team Has served as Chairman & CEO of First Busey since 2007 and became Chairman of the Board effective July 2020. Offers 40 years of diverse financial services experience and extensive board involvement with a conservative operating philosophy and management style that focuses on Busey’s associates, customers, communities and shareholders. Van A. Dukeman Chairman, President & CEO, First Busey Corp. Chairman & CEO, Busey Bank Tony Hammond President, Busey Bank Joined Busey in 2008 and has nearly 30 years of financial and leadership experience. Oversees various areas at Busey and its subsidiaries, including human resources, corporate communications, executive administration, marketing, the overall Busey experience, enterprise and strategic projects, as well as consumer and digital banking. Prior to Busey, Amy worked for 10+ years with CliftonLarsonAllen LLP. Amy L. Randolph Chief Operating Officer Joined Busey in January 2020 with over 25 years of financial leadership experience, including a 16-year tenure with KeyCorp. Oversees various areas at Busey and its subsidiaries, including enterprise, operational and third-party risk management, compliance, fair and responsible banking, vendor management, model risk, business continuity and information security. Monica L. Bowe Chief Risk Officer Joined Busey in March 2025 with the CrossFirst Bankshares merger and oversees various areas at Busey and its subsidiaries, including all information technology and business services and systems, service support, enterprise lending services, enterprise deposits and payments, and facilities. Previously, Amy held multiple executive leadership roles with CrossFirst Bank, most recently serving as Chief Operating Officer. Amy J. Fauss Chief Information & Technology Officer Joined Busey in 2011 and has over 20 years of experience in the financial services industry. Chip oversees all aspects of credit administration at Busey Bank, including commercial and consumer credit, portfolio monitoring and special assets. Before being named Chief Credit Officer in 2025, he held the roles of President of Credit and Bank Administration, Co-Chief Banking Officer, and Regional President for Commercial Banking. Chip Jorstad Chief Credit Officer Joined Busey in September 2025. Oversees various areas at Busey and its subsidiaries—including accounting and corporate reporting, financial planning and analysis, budgeting and forecasting, artificial intelligence, capital management, treasury, specialty finance and community investments, corporate development and investor relations. Chris previously served as Chief Strategy Officer at First National Bank, the largest subsidiary of F.N.B. Corporation. Chris H.M. Chan Chief Financial Officer Joined Busey in 2015 and served as Assistant General Counsel and then Deputy General Counsel prior to assuming his current role in 2026. Prior to joining Busey, Mike began his legal career in the Global Finance group of Sidley Austin LLP in Chicago. He earned a Bachelor of Arts from Cornell University and his Juris Doctor with honors, Order of the Coif, from the University of Chicago Law School. Michael A. Peluso General Counsel 2026 Executive Compensation Performance-Based Measures Weighting Short-term incentives Operating EPS 40% Asset Quality vs. Proxy Peer Group 25% Fee Revenue from Wealth Mgmt., Payment Technology Solutions, Treasury Mgmt., and Capital Markets 20% Core Deposit Growth 10% Regulatory Ratings 5% Total 100% Long-term incentives Relative Total Shareholder Return vs. KRE constituents 50% Relative Operating ROAA vs. Proxy Peer Group 25% Relative TBV growth ex-AOCI plus cumulative dividends and share repurchases vs. Proxy Peer Group 25% Total 100% Executive compensation reinforces corporate priorities and is aligned with driving long-term shareholder value Joined Busey in May 2025. Oversees Busey’s regional operating sales and revenue model which includes all commercial, wealth, treasury management, payments and specialty business units. Tony has two decades of commercial banking experience—including serving as Head of Commercial and Middle Market Banking at HTLF and senior leadership roles at Arizona Bank & Trust, Johnson Bank and BOK Financial—with a track record of consistently leading high-performing teams, growing market share and attracting top talent across the industry.
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203Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Estimated accretion schedule of loan discounts based on anticipated cash flow. These projections include remaining purchase accounting impact from all prior M&A transactions. Purchase Accounting Projections ($ in thousands) Actuals Projections Accretion/Amortization Impact Item FY 2025 1Q26 2Q26 3Q26 4Q26 1Q27 2Q27 3Q27 4Q27 Thereafter Loans Accretion 20,507 5,759 4,514 5,564 4,610 3,736 3,657 3,576 3,387 52,870 CD Accretion 1,710 -8 -6 -7 -5 0 2 5 7 275 Borrowings Amortization -1,316 -357 -358 -358 -359 -306 -306 -278 -124 -2,692 Net NII Impact 20,901 5,394 4,150 5,199 4,246 3,430 3,353 3,303 3,270 50,453 Core Deposit Intangible & Wealth Intangibles Amortization -16,614 -4,291 -4,232 -4,151 -4,082 -3,938 -3,878 -3,798 -3,728 -65,350 Total Pre-Tax Income Impact 4,287 1,103 -82 1,048 164 -508 -525 -495 -458 -14,897
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213Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information This presentation contains certain financial information determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”). Management uses these non- GAAP measures, together with the related GAAP measures, in analysis of Busey’s performance and in making business decisions, as well as for comparison to Busey’s peers. Busey believes the adjusted measures are useful for investors and management to understand the effects of certain non-core and non-recurring items and provide additional perspective on Busey’s performance over time. Included in the Appendix are tables that present reconciliations between these non-GAAP measures and what management believes to be the most directly comparable GAAP financial measures. These non-GAAP disclosures have inherent limitations and are not audited. They should not be considered in isolation or as a substitute for operating results reported in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Tax-effected numbers included in these non-GAAP disclosures are based on estimated statutory rates, estimated federal income tax rates, or effective tax rates, as noted in the tables below.
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223Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) Calculation of Adjusted Net Income and Adjusted Diluted Earnings Per Common Share Three Months Ended Nine Months Ended (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Net income (GAAP) [a] $ 55,845 $ 63,176 $ 57,098 $ 169,002 $ 74,512 Day 2 provision for credit losses1 — — — — 45,572 Adjustment of initial provision for unfunded commitments due to adoption of new model2 — — — — 4,030 Other acquisition (income) expenses 1,132 1,196 7,251 7,572 49,877 Restructuring expenses (31) 1,930 — 13,355 — Net securities (gains) losses 703 (2,445) 288 (802) 10,059 Related tax benefit3 (451) (170) (2,141) (5,031) (29,181) Non-recurring deferred tax adjustment4 — — — — 4,919 Adjusted net income (Non-GAAP) [b] 57,198 63,687 62,496 184,096 159,788 Preferred dividends [c] 4,589 4,590 5,131 13,768 5,286 Adjusted net income available to common stockholders (Non-GAAP) [d] $ 52,609 $ 59,097 $ 57,365 $ 170,328 $ 154,502 Weighted average number of common shares outstanding, diluted (GAAP) [e] 83,733,110 85,385,382 90,218,382 85,634,496 83,609,999 Diluted earnings per common share (GAAP) [(a-c)÷e] $ 0.61 $ 0.69 $ 0.58 $ 1.81 $ 0.83 Adjusted diluted earnings per common share (Non-GAAP) [d÷e] $ 0.63 $ 0.69 $ 0.64 $ 1.99 $ 1.85 ___________________________________________ 1. The Day 2 provision represents the initial provision for credit losses recorded in connection with the CrossFirst acquisition to establish an allowance on non-PCD loans and unfunded commitments and is reflected within the provision for credit losses line on the Statements of Income. 2. In the second quarter of 2025, Busey recorded an adjustment to the initial provision for unfunded commitments for CrossFirst acquisition-date balances based on revised estimates resulting from implementation of a new CECL model. 3. Tax benefits were calculated using tax rates of 25.0% and 26.6% for the nine months ended September 30, 2026 and 2025, respectively. Tax benefits for quarterly periods were calculated as the year-to-date tax amounts less the tax reported for previous quarters during the year. 4. A deferred valuation tax adjustment was recorded in the first quarter of 2025 in connection with the CrossFirst acquisition and the expansion of Busey’s footprint into new states. Deferred tax adjustments are reflected within the income taxes line on the Statements of Income.
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233Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) ___________________________________________ 1. Tax effects were calculated using income tax rates of 25.0% and 26.6% for the nine months ended September 30, 2026 and 2025, respectively. Tax effects for quarterly periods were calculated as the year-to-date tax amounts less the tax reported for previous quarters during the year. 2. A reconciliation is provided on the previous table. 3. Annualized measure. 4. Beginning in 2026, Busey revised, for all periods presented, its calculation of return on average tangible common equity and adjusted return on average tangible common equity to eliminate the effects of intangible asset amortization from the numerator of both calculations. Calculation of Return On Average Assets, Return On Average Tangible Common Equity, and Related Adjusted Return Measures Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Net income (GAAP) [a] $ 55,845 $ 63,176 $ 57,098 $ 169,002 $ 74,512 Amortization of intangible assets 4,151 4,232 4,507 12,674 12,182 Tax effect of amortization of intangible assets1 (1,038) (1,058) (1,210) (3,169) (3,245) Preferred dividends (4,589) (4,590) (5,131) (13,768) (5,286) Tangible net income available to common stockholders (Non-GAAP) [b] $ 54,369 $ 61,760 $ 55,264 $ 164,739 $ 78,163 Adjusted net income (Non-GAAP)2 [c] $ 57,198 $ 63,687 $ 62,496 $ 184,096 $ 159,788 Amortization of intangible assets 4,151 4,232 4,507 12,674 12,182 Tax effect of amortization of intangible assets1 (1,038) (1,058) (1,210) (3,169) (3,245) Preferred dividends (4,589) (4,590) (5,131) (13,768) (5,286) Adjusted tangible net income available to common stockholders (Non-GAAP) [d] $ 55,722 $ 62,271 $ 60,662 $ 179,833 $ 163,439 Average total assets [e] $ 18,470,939 $ 17,887,097 $ 18,662,449 $ 18,140,923 $ 17,534,644 Return on average assets (Non-GAAP)3 [a÷e] 1.20 % 1.42 % 1.21 % 1.25 % 0.57 % Adjusted return on average assets (Non-GAAP)3 [c÷e] 1.23 % 1.43 % 1.33 % 1.36 % 1.22 % Average common equity $ 2,138,564 $ 2,183,290 $ 2,210,711 $ 2,191,883 $ 2,109,046 Average goodwill and other intangible assets, net (469,792) (474,043) (486,625) (474,207) (464,316) Average tangible common equity (Non-GAAP) [f] $ 1,668,772 $ 1,709,247 $ 1,724,086 $ 1,717,676 $ 1,644,730 Return on average tangible common equity (Non-GAAP)3, 4 [b÷f] 12.93 % 14.49 % 12.72 % 12.82 % 6.35 % Adjusted return on average tangible common equity (Non-GAAP)3, 4 [d÷f] 13.25 % 14.61 % 13.96 % 14.00 % 13.29 %
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243Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) Calculation of Net Interest Margin and Adjusted Net Interest Margin Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Net interest income (GAAP) $ 153,145 $ 152,402 $ 155,137 $ 459,516 $ 412,051 Tax-equivalent adjustment1 851 841 788 2,569 2,116 Tax-equivalent net interest income (Non-GAAP) [a] 153,996 153,243 155,925 462,085 414,167 Purchase accounting accretion related to business combinations (5,199) (4,150) (5,854) (14,743) (15,701) Adjusted net interest income (Non-GAAP) [b] $ 148,797 $ 149,093 $ 150,071 $ 447,342 $ 398,466 Average interest-earning assets (Non-GAAP) [c] $ 17,056,264 $ 16,508,372 $ 17,272,362 $ 16,744,898 $ 16,126,422 Net interest margin (Non-GAAP)2 [a÷c] 3.58 % 3.72 % 3.58 % 3.69 % 3.43 % Adjusted net interest margin (Non-GAAP)2 [b÷c] 3.46 % 3.62 % 3.45 % 3.57 % 3.30 % ___________________________________________ 1. Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans. 2. Annualized measure. ___________________________________________ 1. Annualized measure. Calculation of Pre-Provision Net Revenue and Related Measures Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Net interest income (GAAP) $ 153,145 $ 152,402 $ 155,137 $ 459,516 $ 412,051 Total noninterest income (GAAP) 40,402 44,311 41,198 126,978 107,284 Net security (gains) losses (GAAP) 703 (2,445) 288 (802) 10,059 Total noninterest expense (GAAP) (111,398) (112,635) (120,018) (353,552) (359,881) Pre-provision net revenue (Non-GAAP) [a] 82,852 81,633 76,605 232,140 169,513 Acquisition and restructuring (income) expenses, excluding initial provision expenses 1,101 3,126 7,251 20,927 49,877 Adjusted pre-provision net revenue (Non-GAAP) [b] $ 83,953 $ 84,759 $ 83,856 $ 253,067 $ 219,390 Average total assets [c] $ 18,470,939 $ 17,887,097 $ 18,662,449 $ 18,140,923 $ 17,534,644 Pre-provision net revenue to average total assets (Non-GAAP)1 [a÷c] 1.78 % 1.83 % 1.63 % 1.71 % 1.29 % Adjusted pre-provision net revenue to average total assets (Non-GAAP)1 [b÷c] 1.80 % 1.90 % 1.78 % 1.87 % 1.67 %
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253Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) ___________________________________________ 1. Tax-equivalent adjustments were calculated using an estimated federal income tax rate of 21%, applied to non-taxable interest income on investments and loans. 2. Beginning in 2026, Busey changed the caption for this revenue measure, which was previously called “adjusted tax-equivalent revenue.” The calculation itself has not changed. 3. Beginning in 2026, to better align with industry standards, Busey revised its calculation of adjusted noninterest expense, for all periods presented, to exclude any adjustment for amortization of intangible assets. 4. Beginning in 2026, Busey changed the caption for the efficiency ratio numerator from “adjusted noninterest expense” to “adjusted noninterest expense excluding amortization of intangible assets.” The calculation itself has not changed. 5. Beginning in 2026, Busey now reports a single efficiency ratio, which was previously reported as the “Adjusted efficiency ratio.” Calculation of Efficiency Ratio Three Months Ended Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 September 30, 2026 September 30, 2025 Net interest income (GAAP) [a] $ 153,145 $ 152,402 $ 155,137 $ 459,516 $ 412,051 Tax-equivalent adjustment1 851 841 788 2,569 2,116 Tax-equivalent net interest income (Non-GAAP) [b] 153,996 153,243 155,925 462,085 414,167 Total noninterest income (GAAP) 40,402 44,311 41,198 126,978 107,284 Net security (gains) losses 703 (2,445) 288 (802) 10,059 Acquisition and restructuring (gain) loss — — 44 — 44 Adjusted noninterest income (Non-GAAP) [c] $ 41,105 $ 41,866 $ 41,530 $ 126,176 $ 117,387 Operating revenue (Non-GAAP) [d = a+c] $ 194,250 $ 194,268 $ 196,667 $ 585,692 $ 529,438 Tax-equivalent operating revenue (Non-GAAP)2 [e = b+c] 195,101 195,109 197,455 588,261 531,554 Adjusted noninterest income to operating revenue (Non-GAAP) [c÷d] 21.16 % 21.55 % 21.12 % 21.54 % 22.17 % Total noninterest expense (GAAP) $ 111,398 $ 112,635 $ 120,018 $ 353,552 $ 359,881 Acquisition and restructuring expenses, excluding initial provision expenses (1,101) (3,126) (7,207) (20,927) (49,833) Adjusted noninterest expense (Non-GAAP)3 110,297 109,509 112,811 332,625 310,048 Amortization of intangible assets (4,151) (4,232) (4,507) (12,674) (12,182) Adjusted noninterest expense excluding amortization of intangible assets (Non-GAAP)4 [f] $ 106,146 $ 105,277 $ 108,304 $ 319,951 $ 297,866 Efficiency ratio (Non-GAAP)5 [f÷e] 54.41 % 53.96 % 54.85 % 54.39 % 56.04 %
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263Q26 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE Non-GAAP Financial Information (Unaudited) Calculation of Tangible Common Equity, and Related Measures and Ratio As of (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 September 30, 2025 Total assets (GAAP) $ 18,558,606 $ 18,191,867 $ 18,188,628 Goodwill and other intangible assets, net (467,137) (471,288) (485,203) Tangible assets (Non-GAAP)1 [a] $ 18,091,469 $ 17,720,579 $ 17,703,425 Total stockholders’ equity (GAAP) $ 2,256,279 $ 2,383,170 $ 2,448,835 Preferred stock and additional paid in capital on preferred stock (215,197) (215,197) (215,197) Common equity [b] $ 2,041,082 $ 2,167,973 $ 2,233,638 Goodwill and other intangible assets, net (467,137) (471,288) (485,203) Tangible common equity (Non-GAAP) [c] $ 1,573,945 $ 1,696,685 $ 1,748,435 Tangible common equity to tangible assets (Non-GAAP) [c÷a] 8.70 % 9.57 % 9.88 % Ending number of common shares outstanding (GAAP) [d] 81,276,654 83,189,501 88,789,043 Book value per common share (Non-GAAP) [b÷d] $ 25.11 $ 26.06 $ 25.16 Tangible book value per common share (Non-GAAP) [c÷d] $ 19.37 $ 20.40 $ 19.69 Calculation of Core Deposits and Related Ratio As of (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 Total deposits (GAAP) [a] $ 15,537,566 $ 15,128,745 $ 15,070,162 Brokered deposits, excluding brokered time deposits of more than $250,000 (10,000) (60,043) (125,432) Time deposits of more than $250,000 (920,142) (896,354) (807,378) Core deposits (Non-GAAP) [b] $ 14,607,424 $ 14,172,348 $ 14,137,352 Core deposits to total deposits (Non-GAAP) [b÷a] 94.01 % 93.68 % 93.81 %