Slides
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Quarterly Results 4Q25 Conference Call January 22, 2026
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Forward Looking Statements The information included in this document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and involve certain risks and uncertainties that may cause actual results to differ materially from those expressed in the forward-looking statements. Factors that might cause such a difference include but are not limited to (i) general business and economic conditions, including changes in interest rates; (ii) cybersecurity breaches; (iii) hurricanes, earthquakes, pandemics and other natural disasters; and (iv) competition in the financial services industry. For a discussion of such factors and certain risks and uncertainties to which OFG is subject, please refer to OFG’s annual report on Form 10-K for the year ended December 31, 2024, as well as its other filings with the U.S. Securities and Exchange Commission. Other than to the extent required by applicable law, including the requirements of applicable securities laws, OFG assumes no obligation to update any forward-looking statements to reflect occurrences or unanticipated events or circumstances after the date of such statements. Non-GAAP Financial Measures In addition to our financial information presented in accordance with GAAP, management uses certain “non-GAAP financial measures” within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Please refer to Tables 8-1 and 8-2 in OFG’s Financial Supplement for a reconciliation of GAAP to non-GAAP measures and calculations for the quarter ended December 31, 2025 at www.ofgbancorp.com. 2
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4Q25 Summary Income Statement Balance Sheet (EOP) Capital Capital Management • EPS $1.27 • Total Core Revenues $185.4M • NIM 5.12% • Provision $31.9M • Non-Interest Expense $105.0M • PPNR $79.3M • Total Assets $12.5B • Customer Deposits $9.9B • Loans Held for Investment $8.2B • New Loan Production $605.6M • Investments $2.8B • Cash $1.0B • CET1 13.97% • Tier 1 Risk-Based 13.97% • Total Risk-Based 15.24% • Leverage 10.71% • Buybacks: $40.1M of share repurchases 3
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2025 Summary Income Statement Balance Sheet (EOP) Capital Capital Management • EPS $4.58 • Total Core Revenues $729.8M • NIM 5.27% • Provision $107.5M • Non-Interest Expense $389.8M • PPNR $341.6M • Total Assets $12.5B • Customer Deposits $9.9B • Loans Held for Investment $8.2B • New Loan Production $2.6B • Investments $2.8B • Cash $1.0B • CET1 13.97% • Tier 1 Risk-Based 13.97% • Total Risk-Based 15.24% • Leverage 10.71% • Buybacks: $91.6M of share repurchases • Dividend: +20% to $0.30 per quarter 4
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Digital First: Leader in Banking Innovation in Puerto Rico 5
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Digital First: Driving Growth 6 Retail Digital/Self-Service Channel Use (4Q25) • 96% of all routine transactions • 98% of all deposit transactions • 71% of all loan payments Key Drivers (4Q25 vs. 4Q24) • +9% digital enrollment • +5% digital loan payments • +10% virtual teller use • +4.26% net customers
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Financial Highlights 7 Total Core Revenues ($M) $174 $182 $178 $182 $184 $185 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 EPS $1.00 $1.09 $1.00 $1.15 $1.16 $1.27 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 TBV Per Common Share $26.15 $25.43 $26.66 $27.67 $28.92 $29.96 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Efficiency Ratio 52.60% 54.82% 52.42% 52.04%52.48% 56.65% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 ROAA 1.66% 1.75% 1.56% 1.73% 1.69% 1.81% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 ROATCE 15.94%16.71%15.28% 16.96% 16.39% 17.20% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25
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Core Deposit Cost 1.53% 1.46% 1.42% 1.42% 1.47% 1.42% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Includes Non-Interest-Bearing Deposits, Before Fair Value Amortization from Scotiabank Deposits Operational Highlights 8 Loans ($B, Avg. Balance) $7.63 $7.72 $7.78 $7.96 $8.10 $8.12 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 New Loan Origination ($M) $572 $609 $559 $784 $624 $606 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Loan Yield 8.05% 8.01% 7.99% 7.91% 7.90% 7.73% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Net Interest Margin 5.43% 5.40% 5.42% 5.31% 5.24% 5.12% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Core Deposits ($B, Avg. Balance) $9.59 $9.56 $9.62 $9.74 $9.87 $9.93 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25
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Credit Quality & Capital Strength 9 NCO Rate 0.90% 0.82% 1.05% 0.64% 1.00% 1.32% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 NPL Rate 1.03% 1.06% 1.11% 1.19% 1.22% 1.59% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 CET1 Ratio 14.37% 14.26% 14.27% 13.99%14.13% 13.97% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 TCE Ratio 10.72% 10.13%10.30%10.20% 10.55%10.47% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Provision ($M) $21.4 $30.2 $25.7 $21.7 $28.3 $31.9 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Total Stockholder's Equity ($B) $1.32 $1.25 $1.30 $1.33 $1.38 $1.39 9/30/2412/31/243/31/256/30/259/30/2512/31/25
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Positive Outlook Puerto Rico • Economy is performing well, business and consumer liquidity levels are good, salaries are growing, and unemployment is historically low • Public reconstruction funds and private investments are producing economic tailwinds • New on-shoring investments have been announced • We remain watchful of global economic uncertainties OFG • Digital First investments are driving unique customer experiences and successfully expanding market share • Our continuous improvement culture, together with investments in people, technology and automation, are starting to produce tangible efficiencies • We have a solid commercial pipeline, stable credit trends, strong risk-management capabilities, and asset-liability discipline • Combined with PR's level of business activity, all this continues to position us well for growth and market share expansion 10
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Appendix
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Snapshot (December 31, 2025) Branches, Kiosks, ATMs & ITMs in All Major PR & USVI Markets Loans ($8.2B)* Deposits ($10.3B) Value Proposition • Puerto Rico’s challenger bank • Target specific retail and commercial customer segments • “Más Que Listo (More than Ready) to help you achieve your financial goals” • Our mission is to make progress possible for our customers, employees, shareholders, and the communities we serve Financials • Total Assets: $12.5B • Wealth Management: $5.1B • Mortgage Loan Servicing Portfolio: $5.6B • Total Stockholders’ Equity: $1.4B • Tangible Common Equity: $1.3B 12 Puerto Rico USVI Total Branches 42 2 44 Self-Service Kiosks 17 2 19 ATMs 283 12 295 ITMs 38 2 40 Total 380 18 398 * Loans Held for Investment Mortgage 17% Commercial 43% Consumer 8% Auto 32% Demand 57%Savings 22% Time 18% Brokered CD 3%
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History of Capital Management & Growth • Organic growth and acquisitions have transformed OFG's Oriental into a full- service, island-wide financial institution • From 2002-2025, our local deposits have expanded 10.1x while the local deposit market has grown 2.2x* • Key acquisitions: Eurobank (2010), Puerto Rico operations of Banco Bilbao Vizcaya Argentaria (2012), and Puerto Rico and USVI operations of The Bank of Nova Scotia (2019) • Chart data is EOP 13 * Source: S&P Capital IQ 01/16/26 Loans ($B) $1.7 $5.2 $5.0 $4.8 $4.4 $4.1 $4.1 $4.4 $6.6 $6.5 $6.3 $6.7 $7.4 $7.6 $8.0 201120122013201420152016201720182019202020212022202320242025 Assets ($B) $6.7 $9.2 $8.2 $7.4 $7.1 $6.5 $6.2 $6.6 $9.3 $9.8 $9.9 $9.8 $11.3$11.5 $12.5 201120122013201420152016201720182019202020212022202320242025 Customer Deposits ($B) $2.1 $4.8 $4.6 $4.3 $3.9 $4.1 $4.3 $4.4 $7.5 $8.4 $8.6 $8.6 $9.6 $9.4 $9.9 201120122013201420152016201720182019202020212022202320242025 Stockholders' Equity ($B) $0.7 $0.9 $0.9 $0.9 $0.9 $0.9 $1.0 $1.0 $1.1 $1.1 $1.1 $1.0 $1.2 $1.3 $1.4 201120122013201420152016201720182019202020212022202320242025
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4Q25 Asset Balance Evolution ($M) 14 $12,232 $(75) $31 $154 $(112) $12,230 $79 $(47) $(96) $300 $12,466 6/30/2025 Loans Other Investment Cash 9/30/2025 Loans Other Investment Cash 12/31/2025
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4Q25 Loan Balance Evolution ($M) 15 $8,181 $(15) $(39) $5 $(15) $8,117 $(10) $107 $(3) $(10) $8,201 6/30/2025 Mortgage Commercial Consumer Auto 9/30/2025 Mortgage Commercial Consumer Auto 12/31/2025
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4Q25 Core Deposit Balance Evolution ($M) 16 $9,896 $(144) $77 $(9) $9,820 $44 $51 $8 $9,923 6/30/2025 Time Savings Demand 9/30/2025 Time Savings Demand 12/31/2025
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4Q25 Deposit Balance Evolution: Retail vs. Commercial, Ex-Public Funds ($M) 17 $8,273 $6 $(109) $8,170 $39 $38 $8,247 6/30/2025 Retail Commercial 9/30/2025 Retail Commercial 12/31/2025
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Residential Mortgage Loans ($M) 18 $1,484 $1,471 $1,436 $1,415 $1,400 $1,390 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 $37 $43 $37 $56 $42 $45 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $19.0 $17.2 $17.1 $16.0 $17.7 $17.6 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 -0.06% -0.14% -0.14% -0.22% -0.13% -0.10% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Portfolio NCO RateNPLs New Loan Origination
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$21 $17 $22 $23 $23 $50 $19 $24 $31 $39 $38 $38 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $150 $211 $163 $254 $217 $202$67 $44 $58 $147 $116 $112 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 -0.01% 0.18% 1.62% —% 1.74% 0.01%US 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Commercial Loans ($M) 19 $2,438 $2,399 $2,426 $2,598 $2,553 $2,660 $680 $704 $727 $825 $832 $830 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 -0.12% -0.11% -0.01% 0.02% 0.10% 1.11% P.R. Portfolio New Loan Origination NCO RateNPLs
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Auto Loans ($M) $232 $242 $233 $250 $173 $179 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 20 $2,484 $2,549 $2,593 $2,662 $2,647 $2,637 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 1.64% 1.63% 1.63% 1.11% 1.45% 1.81% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $17.0 $20.1 $14.0 $15.0 $16.0 $20.8 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Portfolio New Loan Origination NPLs NCO Rate
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Consumer Loans ($M) 21 $664 $669 $671 $681 $686 $684 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 $87 $69 $68 $77 $76 $68 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $3.6 $4.2 $3.5 $3.8 $4.2 $4.4 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 4.70% 3.72% 4.34% 3.50% 3.85% 4.55% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Portfolio New Loan Origination NPLs NCO Rate
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Credit Quality 22 0.90% 0.82% 1.05% 0.64% 1.00% 1.32% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 4.10% 4.38% 3.49% 3.59% 4.06% 4.18% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 2.78% 2.95% 2.19% 2.46% 2.84% 2.80% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1.03% 1.06% 1.11% 1.19% 1.22% 1.59% 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25*3Q24 reflects booking of the GNMA buy-back option program related to the late August 2024 mortgage servicing portfolio acquisition NCO Rate NPL Rate Early Delinquency Rate Total Delinquency Rate*
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ACL by % of Portfolio 12/31/23 3/31/24 6/30/24 9/30/24 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Auto 3.23 % 3.26 % 3.33 % 3.26 % 3.44 % 3.51 % 3.48 % 3.39 % 3.51 % Commercial 1.47 % 1.26 % 1.12 % 1.19 % 1.46 % 1.52 % 1.61 % 1.87 % 1.90 % Residential Mortgages 0.98 % 0.94 % 0.84 % 0.83 % 0.74 % 0.70 % 0.66 % 0.78 % 0.72 % Consumer 4.37 % 4.37 % 4.57 % 4.71 % 4.76 % 4.81 % 4.82 % 4.92 % 4.90 % Total 2.14 % 2.08 % 2.06 % 2.08 % 2.26 % 2.31 % 2.32 % 2.44 % 2.47 % Allowance 2323 2.14% 2.08% 2.06% 2.08% 2.26% 2.31% 2.32% 2.44% 2.47% 12/31/233/31/24 6/30/24 9/30/2412/31/243/31/25 6/30/25 9/30/2512/31/25 ACL / Total Loans Held for Investment
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Core Non-Interest Income ($M) 24 $26.3 $32.8 $29.2 $30.2 $29.3 $32.6 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $15.6 $15.3 $16.0 $16.0 $15.9 $16.6 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $8.4 $10.6 $8.5 $8.9 $9.0 $11.4 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 $2.3 $6.8 $4.8 $5.3 $4.3 $4.7 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Total Banking Services Wealth Management Mortgage Banking
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Capital: Fortress Balance Sheet Basel III Standardized ($ in millions except per share) 4Q24 1Q25 2Q25 3Q25 4Q25 CET1 Capital $ 1,256.9 $ 1,261.7 $ 1,293.0 $ 1,313.6 $ 1,318.6 CET1 Capital Ratio 14.26 % 14.27 % 13.99 % 14.13 % 13.97 % Tier 1 Capital $ 1,256.9 $ 1,261.7 $ 1,293.0 $ 1,313.6 $ 1,318.6 Tier 1 Capital Ratio 14.26 % 14.27 % 13.99 % 14.13 % 13.97 % Total Capital $ 1,367.7 $ 1,373.0 $ 1,409.4 $ 1,430.7 $ 1,437.6 Total Capital Ratio 15.52 % 15.53 % 15.25 % 15.39 % 15.24 % Risk-Weighted Assets $ 8,812.4 $ 8,843.0 $ 9,245.1 $ 9,298.6 $ 9,436.0 Leverage Ratio 10.93 % 10.83 % 10.83 % 10.75 % 10.71 % Total Assets (EOP) $ 11,500.7 $ 11,729.3 $ 12,231.5 $ 12,229.8 $ 12,465.7 Tangible Common Equity (EOP) $ 1,155.3 $ 1,197.6 $ 1,237.9 $ 1,280.1 $ 1,295.9 Tangible Book Value Per Share $ 25.43 $ 26.66 $ 27.67 $ 28.92 $ 29.96 25
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Income Statement Highlights: 4Q25 vs. 3Q25 $ in millions 4Q25 3Q25 Δ Comment Total Interest Income • Cash $ 7.9 $ 8.6 $ (0.7) • 2% higher average balance & 42 bps lower yield • Investment Securities 31.1 30.3 0.8 • 3% higher average balance & 1 bps higher yield • Loans 158.2 161.3 (3.1) • 0.2% higher average balance & 17 bps lower yield Total Interest Expense • Core Deposits 35.5 36.5 (1.0) • 1% higher average balance & 5 bps lower rate • Borrowings & Brokered Deposits 8.0 8.0 — • 2% higher average balance & 8 bps lower rate Total Provision for Credit Losses 31.9 28.3 3.6 • 4Q25 primarily reflected $21.8M for increased loan volume, $5.1M for a specific reserve on a Puerto Rico telecom commercial loan, $2.4M related to U.S. macroeconomic factors, and $1.7M charge-offs from the sale of NPLs Total Banking and Financial Service Revenues 32.6 29.3 3.3 • 4Q25 reflected increased wealth management revenues due to $2.3M in annual insurance commission recognition as well as higher revenues from banking services and mortgage activities Other Income (1.1) 2.2 (3.3) • 4Q25 included $6.1M accelerated amortization of technology related assets and gains of $3.9M on the sale of NPLs and $1.1 M on the sale of a building Total Non-Interest Expense 105.0 96.5 8.5 • 4Q25 included expenses of $3.3M in professional service fees related to performance-based advisory costs as part of the renegotiation of a cost-saving technology services contract, $2.5M for business rightsizing, and $1.0M related to the accelerated amortization of technology related assets Income Tax Expense (8.5) 9.5 (18.0) • 4Q25 benefited from $16.8M in discrete tax benefits, including $12.9M from expiration of a tax agreement from the 2019 acquisition of Scotiabank’s PR and USVI operations, and $3.9M from a release in valuation allowance of deferred tax assets at the holding company level Net Income Available to Common Shareholders $ 55.9 $ 51.8 $ 4.1 26
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Income Statement Highlights: 4Q25 vs. 4Q24 $ in millions 4Q25 4Q24 Δ Comment Total Interest Income • Cash $ 7.9 $ 6.5 $ 1.4 • 44% higher average balance & 74 bps lower yield • Investment Securities 31.1 28.3 2.8 • 7% higher average balance & 10 bps higher yield • Loans 158.2 155.3 2.9 • 5% higher average balance & 28 bps lower yield Total Interest Expense • Core Deposits $ 35.5 $ 35.2 0.3 • 4% higher average balance & 4 bps lower rate • Deposit Intangible Amortization 0.9 1.1 (0.2) • Borrowings & Brokered Deposits 8.0 4.7 3.3 • 85% higher average balance & 37 bps lower rate Total Provision for Credit Losses 31.9 30.2 1.7 • 4Q25 included $21.8M vs. $18.1M in 4Q24 for increased loan volume Total Banking & Financial Service Revenues 32.6 32.8 (0.2) • 4Q25 increased banking service and wealth management revenues offset most of the decline in mortgage banking activities primarily due to favorable MSR valuation in 4Q24 Other Income (1.1) 0.8 (1.9) • 4Q25 included $6.1M accelerated amortization of technology related assets and gains of $3.9M on the sale of NPLs and $1.1 M on the sale of a building Total Non-Interest Expense 105.0 99.7 5.3 • 4Q25 included expenses of $3.3M in professional service fees related to performance-based advisory costs as part of the renegotiation of a cost-saving technology services contract, $2.5M for business rightsizing, and $1.0M related to the accelerated amortization of technology related assets Income Tax Expense (8.5) 2.4 (10.9) • 4Q25 benefited from $16.8M in discrete tax benefits, including $12.9M from expiration of a tax agreement from the 2019 acquisition of Scotiabank’s PR and USVI operations, and $3.9M from a release in valuation allowance of deferred tax assets at the holding company level Net Income Available to Common Shareholders $ 55.9 $ 50.3 $ 5.6 27
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Thank you. Contact: IR Coordinators Gary Fishman gfishman@ofgbancorp.com Michael Wichman mwichman@ofgbancorp.com 212-532-3232