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ZIONS SECOND QUARTER 2026 July 20, 2026 Financial Review
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FORWARD -LOOKING STATEMENTS; USE OF NON -GAAP FINANCIAL MEASURES 2 Forward-Looking Information This presentation contains “forward-looking statements” as defined under the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and assumptions regarding future events and outcomes. However, they are inherently subject to known and unknown risks, uncertainties, and other factors that could cause actual results, performances, achievements, industry developments, or regulatory outcomes to differ materially from those expressed or implied. Forward-looking statements may include, among others: Statements concerning the beliefs, plans, objectives, goals, targets, commitments, designs, guidelines, expectations, anticipations, and future financial condition, operating results, and performance of Zions Bancorporation, National Association and its subsidiaries (collectively “Zions Bancorporation, N.A.,” “the Bank,” “we,” “our,” “us”); and statements preceded or followed by, or that include, terminology such as “may,” “might,” “can,” “continue,” “could,” “should,” “would,” “believe,” “anticipate,” “estimate,” “forecasts,” “expect,” “intend,” “target,” “commit,” “design,” “plan,” “projects,” “will,” or simil ar words and expressions, including their negative forms. Forward-looking statements are not guarantees and should not be relied upon as representing management’s views as of any subsequent date. Actual results and outcomes may differ materially from those presented. Although the following list is not comprehensive, key factors that may cause material differences include: The quality and composition of our loan and investment securities portfolios and the quality and composition of our deposits; Changes in general industry, political, and economic conditions, including increases in the national debt, elevated inflation, economic slowdowns or recessions, and other macroeconomic challenges; changes in interest and reference rates, which could negatively impact our revenues and expenses, the valuation and performance of our assets and liabilities, and the availability and cost of capital and liquidity; Political developments, including government shutdowns and other significant disruptions and changes in the funding, size, scope, and effectiveness of the government, its agencies and services; The effects of newly enacted and proposed regulations affecting us and the banking industry, as well as changes and uncertainties in the interpretation, enforcement, and applicability of laws and fiscal, monetary, regulatory, trade, and tax policies; Actions taken by governments, agencies, central banks, and similar organizations, including those that result in decreases in revenue, increases in regulatory bank fees, insurance assessments, and capital standards; and other regulatory requirements; Evolving trade policies and disputes, such as proposed and implemented tariffs and resulting market volatility and uncertainty, including the effects on supply chains, expenses and revenues for both us and our customers; Judicial, regulatory and administrative inquiries, investigations, examinations or proceedings and the outcomes thereof that create uncertainty for, or are adverse to, us or the banking industry; Changes in our credit ratings; Our ability to innovate and otherwise address competitive pressures and other factors that may affect aspects of our business, such as pricing, relevance of, and demand for, our products and services, and our ability to recruit and retain talent; The potential for both positive and disruptive impacts of emerging technologies, including stablecoins and other digital currencies, tokenized deposits, blockchain, artificial intelligence, quantum computing, and related innovations affecting both us and the banking industry; Our ability to complete projects and initiatives and execute our strategic plans, manage our risks, control compensation and other expenses, and achieve our business objectives; The growing presence of credit unions, financial technology companies (“fintechs”), and other emerging competitors within the financial services industry, including in the markets in which we operate; Our ability to innovate and address competitive pressures and other factors that may affect aspects of our business, such as pricing, the relevance of and demand for our products and services, and our ability to recruit and retain talent; The potential for both positive and disruptive impacts of emerging technologies, including stablecoins and other digital currencies, tokenized deposits, blockchain, artificial intelligence (“AI”), quantum computing, and related innovations affecting both us and the banking industry; Our ability to complete projects and initiatives and execute our strategic plans, manage our risks, control compensation and other expenses, and achieve our business objectives; Our ability to develop and maintain technology and information security systems, along with effective controls designed to guard against fraud, cybersecurity, and privacy risks and related incidents, particularly given the accelerating pace at which threat actors are developing and deploying increasingly sophisticated and targeted tactics against the financial services industry; The occurrence of fraud, theft, or other forms of misconduct perpetrated by external parties, including customers and business partners, or by our own employees; Our ability to provide adequate oversight of our suppliers to help us prevent or mitigate effects upon us and our customers of inadequate performance, systems failures, or cyber and other incidents by, or affecting, third parties upon whom we rely for the delivery of various products and services; The effects of wars, geopolitical conflicts, and other local, national, or international disasters, crises, or conflicts that may occur in the future; Natural disasters, pandemics, wildfires, catastrophic events, and other emergencies and incidents, and their impact on our operations, our customers’ business, and the communities we serve, including the increasing difficulty and expense of obtaining property, auto, business, and other insurance products; Diverging and evolving policy, legal, regulatory, and political developments— combined with differing stakeholder perspectives related to governance, environmental, and social matters—may subject us to potentially conflicting requirements and expectations; Securities and capital markets behavior, including volatility and changes in market liquidity and our ability to raise capital; The possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and shareholders’ equity; The impact of bank closures or adverse developments at other banks on general investor sentiment regarding the stability and liquidity of banks; Adverse news and other expressions of negative public opinion—whether directed at us, other financial institutions, the banking industry, or the broader market—that may adversely affect our reputation and the industry more broadly; and Other assumptions, risks, or uncertainties described in this earnings release, and other SEC filings. We caution against placing undue reliance on forward-looking statements, as they reflect our views only as of the date they are issued. Except as required by law, we expressly disclaim any obligation to update any factors or publicly announce revisions to forward-looking statements to reflect future events or developments. Use of Non-GAAP Financial Measures: This document contains several references to non-GAAP measures, including but not limited to, pre-provision net revenue and the “efficiency ratio,” which are common industry terms used by investors and financial services analysts. Certain of these non-GAAP measures are key inputs into Zions’ management compensation and are used in Zions’ strategic goals that have been and may continue to be articulated to investors. Therefore, the use of such non-GAAP measures are believed by management to be of substantial interest to the consumers of these financial disclosures and are used prominently throughout the disclosures. A reconciliation of the difference between such measures and GAAP financials is provided within the document, and users of this document are encouraged to carefully review this reconciliation.
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• Net earnings of $452 million, or $3.05 per share, increased 95% from the prior quarter, while increasing 86% versus the prior-year period on improved pre-provision net revenue (non-recurring gains contributed $252 million (pre-tax), or approximately $1.31 per share)1 • The net interest margin remained at 3.27% compared to the prior quarter and increased 10 basis points versus prior year on improved funding costs and mix • Adjusted pre-provision net revenue increased 10% versus prior quarter and 5% versus prior year • Average loans grew 4.7% annualized versus prior quarter and grew 2.3% versus prior year • Average customer deposits grew 4.0% annualized versus prior quarter and 3.7% versus prior year • Net charge-offs were 0.06% of loans, annualized FINANCIAL PERFORMANCE 3 (1) $215 million gain on sale of Visa shares and $37 million net unrealized gain due to valuation adjustments in the SBIC investment portfolio. (2) See Appendix for non-GAAP financial measures. Excluding $252 million of pre-tax net gains, return on average tangible common equity for 2Q26 would have been approximately 16.6%. (3) Excludes brokered deposits. Second quarter results reflect improved earnings, average loan and deposit growth, margin stability, and continued strong credit performance Key Metrics (in millions, except ratios and per share data) 2Q26 1Q26 2Q25 Change From: 1Q26 2Q25 Net earnings to common $452 $232 $243 $220, or 95% $209, or 86% Diluted earnings per share (GAAP) $3.05 $1.56 $1.63 $1.49, or 96% $1.42, or 87% Net interest margin 3.27% 3.27% 3.17% 0 bps 10 bps Adjusted pre-provision net revenue2 $332 $301 $316 $31, or 10% $16, or 5% Efficiency ratio2 62.2% 65.0% 62.2% (280) bps 0 bps Average loans 61,858 61,141 60,460 4.7% Annualized 2.3% Average customer deposits3 72,427 71,706 69,836 4.0% Annualized 3.7% Net charge-offs / loans (annualized) 0.06% 0.03% 0.07% 3 bps (1) bps Return on average tangible common equity2 28.6% 15.5% 18.7% 130 bps 100 bps
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DILUTED EARNINGS PER SHARE 4 (1) Items that were $0.05 per share or more. Earnings per share increased by 87% compared to the year-ago period reflecting the positive impacts from the items below & improved performance Diluted Earnings per Share EPS Impact of Provision for Credit Losses Notable Items1: 2Q26: • $1.12 per share positive impact from $215 million gain on sale of Visa shares • $0.19 per share positive impact from $37 million net unrealized gain due to valuation adjustments in the SBIC investment portfolio 1Q26: • No notable items with impact greater than $0.05 per share 4Q25: • $(0.08) per share negative impact from $15 million charitable contribution • $0.06 per share positive impact from $11 million net unrealized gain due to valuation adjustments in the SBIC investment portfolio • $0.05 per share positive impact from a $9 million accrual reversal related to the FDIC special assessment 3Q25 • $(0.06) per share negative impact from $11 million net CVA loss 2Q25: • $0.05 per share positive impact from a $9 million net unrealized gain on the IPO of an SBIC investment $1.63 $1.48 $1.76 $1.56 $3.05 2Q25 3Q25 4Q25 1Q26 2Q26 $0.01 $(0.25) $(0.03) $0.04 $(0.02) 2Q25 3Q25 4Q25 1Q26 2Q26
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PRE -PROVISION NET REVENUE (“PPNR”) 5 (1) PPNR includes taxable-equivalent revenue; Adjusted PPNR adjusts for certain items. See Appendix. Adjusted PPNR increased 10% versus the prior quarter and increased 5% over the prior year on improved revenue Linked quarter (2Q26 vs. 1Q26) • Adjusted PPNR increased $31 million, or 10%: • Tax-equivalent net interest income increased $15 million, or 2% • Adjusted customer-related fee income, which excludes CVA, increased $7 million, or 4% • Adjusted noninterest expense, which includes seasonal compensation in 1Q26, decreased $12 million, or 2% Year-over-year (2Q26 vs. 2Q25) • Adjusted PPNR increased $16 million, or 5%: • Tax-equivalent net interest income up $27 million, or 4% • Adjusted customer-related fee income up $17 million, or 10% • Adjusted noninterest expense up $25 million, or 5% $324 $345 $356 $298 $597 $316 $352 $331 $301 $332 2Q25 3Q25 4Q25 1Q26 2Q26 Pre-provision net revenue (PPNR) (non-GAAP) Adjusted PPNR (non-GAAP) PPNR1 ($ millions)
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NET INTEREST INCOME & NET INTEREST MARGIN 6 Net interest margin was unchanged sequentially; net interest income increased sequentially and year-over-year $648 $672 $683 $662 $677 3.17% 3.28% 3.31% 3.27% 3.27% 2.00% 2.50% 3.00% 3.50% 4.00% $500 2Q25 3Q25 4Q25 1Q26 2Q26 Net Interest Income Net Interest Margin ($ millions) Linked quarter (2Q26 vs. 1Q26) • Net interest income increased $15 million, or 2%: • Interest income increased $23 million • $18 million, or 2%, increase on loans • $5 million, or 3%, increase on money market and securities • Interest expense increased by $8 million • $6 million, or 2%, increase on deposits • $2 million, or 3%, increase on borrowings Year-over-year (2Q26 vs. 2Q25) • Net interest income increased $29 million, or 4%: • Interest income decreased $32 million, or 3% • $16 million, or 2%, decrease on loans • $16 million, or 9%, decrease on money market and securities • Interest expense decreased $61 million, or 15% • $31 million, or 10%, decrease on deposits • $30 million, or 33%, decrease on borrowings
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(0.09%) (0.11%) 0.14% 0.19% (0.03%)3.17% 3.27%0.01% (0.01%) 0.00% 0.00% 0.00% 3.27% 3.27% NET INTEREST MARGIN 7 (1) Includes the impact of changes to both balance and rate/yield. (2) The impact of noninterest-bearing sources of funds on the net interest margin is calculated as the difference between interest earning assets and interest - bearing liabilities divided by earnings assets multiplied by rate paid on interest-bearing liabilities. Margin was stable compared to the prior quarter; favorable funding repricing and remixing improved the margin vs prior year Year-Over-Year (2Q26 vs. 2Q25) 1Linked Quarter (2Q26 vs. 1Q26) 1 Loans DepositsMoney Mkt & Securities Borrowings Free Funds2 Loans DepositsMoney Mkt & Securities Borrowings Free Funds2 2Q25 2Q261Q26 2Q26
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NONINTEREST INCOME AND REVENUE 8 (1) Reflects total customer-related noninterest income, which excludes dividends and other income and net securities gains (losses). Adjusted value excludes credit valuation adjustment income (loss). (2) Adjusted revenue is the sum of taxable-equivalent net interest income and noninterest income less adjustments. See Appendix for non-GAAP financial measures. (3) Total revenue for 2Q26 includes $215 million gain on sale of Visa shares and $44 million unrealized gain related to an SBIC investment. Adjusted customer-related fee income grew versus the prior quarter led by Capital Markets fees; broad-based growth versus the prior year Customer-Related Noninterest Income 1 ($ millions) $838 $861 $891 $849 $1,137 $837 $872 $879 $859 $878 2Q25 3Q25 4Q25 1Q26 2Q26 Total Revenue (GAAP) Adjusted Revenue (Non-GAAP) Total Revenue 2, 3 ($ millions) $164 $163 $177 $172 $182 $164 $174 $175 $174 $181 2Q25 3Q25 4Q25 1Q26 2Q26 Customer-Related Noninterest Income Adjusted Customer-Related Noninterest Income
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NONINTEREST EXPENSE 9 (1) Adjusted for severance costs, restructuring costs, SBIC investments success fee accruals, FDIC special assessment, intangibles amortization, and other real estate expense. (2) In addition to the expense adjustments from note 1, the efficiency ratio also includes adjustments to revenue for taxable-equivalent interest income, securities gains (losses), and credit valuation adjustment income (loss). See Appendix for Non-GAAP financial measures. Adjusted noninterest expense decreased compared to the prior quarter due primarily to seasonal compensation expense in the prior quarter Linked quarter (2Q26 vs. 1Q26) • Adjusted noninterest expense decreased $12 million, or 2% • Salaries and benefits decreased $17 million, or 5%, as the first quarter had seasonal compensation expense • Deposit insurance & regulatory expense decreased $8 million, or 53%, driven by a $6 million decrease from an updated estimate of the FDIC special assessment • These decreases were partially offset by minor increases in several categories Year-over-year (2Q26 vs. 2Q25) • Adjusted noninterest expense increased $25 million, or 5%, driven primarily by higher professional and legal services ($9 million), salary expense ($8 million), and technology expense ($7 million) Notable items: • 2Q26: $7 million success fee accrual from SBIC investments • 1Q26: No notable items > $0.05 per share • 4Q25: $15 million charitable donation to Zions’ foundation $527 $527 $546 $562 $551 $521 $520 $548 $558 $546 62.2% 59.6% 62.3% 65.0% 62.2% 2Q25 3Q25 4Q25 1Q26 2Q26 NIE (GAAP) Adjusted NIE (Non-GAAP) Efficiency Ratio ($ millions) Noninterest Expense (NIE) (1) (2)
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$60.5 $60.8 $60.8 $61.1 $61.9 5.86% 5.91% 5.76% 5.62% 5.61% 2Q25 3Q25 4Q25 1Q26 2Q26 ($ billions) AVERAGE LOANS AND DEPOSITS 10 (1) Beta calculated using interest-bearing deposit spot rates on 8/31/24, and 6/30/26, which were 3.20% and 2.27%, respectively. Total cost of deposit spot rate at 6/30/26 was 1.49%. Note: Figures shown in graphs may not foot due to rounding. Average yield on loans and total cost of deposits were stable versus prior quarter Average Total Loans Yield on Total Loans Average Total Deposits Total Cost of Deposits $49.5 $49.4 $49.4 $49.3 $50.1 $24.7 $24.9 $26.6 $26.2 $26.1 $74.3 $74.3 $76.0 $75.5 $76.2 1.68% 1.67% 1.56% 1.48% 1.48% 2Q25 3Q25 4Q25 1Q26 2Q26 ($ billions) Average Noninterest-bearing Deposits Average Interest-bearing Deposits Total interest-bearing deposits reflect a 53% cumulative beta1
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$70 $71 $72 $73 $73 $4 $4 $4 $4 $4$7 $5 $4 $2 $3 - 10 20 30 40 50 60 70 80 90 100 2Q25 3Q25 4Q25 1Q26 2Q26 $70 $70 $72 $72 $72 $4 $4 $4 $4 $4$8 $7 $5 $5 $5 1.97% 1.92% 1.76% 1.68% 1.69% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% - 10 20 30 40 50 60 70 80 90 100 2Q25 3Q25 4Q25 1Q26 2Q26 DEPOSIT BALANCE AND BORROWING TRENDS 11 Note: Figures shown in graphs may not foot due to rounding. Ending customer deposits decreased slightly while average customer deposits increased 1%, compared to prior quarter Q2 2026 total funding cost increased 1 basis point to 1.69% from 1.68% in the prior quarter • Period-end customer deposits decreased $439 million (-0.6%) linked quarter and grew $2.8 billion (+4%) versus prior year • Brokered deposits grew $140 million (+4%) linked quarter and were flat versus prior year • Short-term borrowings grew $837 million (+219%) linked quarter and declined $4.6 billion (-79%) versus prior year • Long-term debt was flat linked quarter and increased $1 billion versus prior year Average Deposits and Borrowings ($ billions) Ending Deposits and Borrowings ($ billions)
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TOTAL INVESTMENT SECURITIES & MONEY MARKET INVESTMENTS 12 Investment portfolio serves as a key source of liquidity and balance sheet flexibility The investment securities portfolio is designed to be a storehouse of balance sheet liquidity • Principal and prepayment-related cash flows from investment securities were $514 million for the quarter, partially offset by reinvestment of $297 million • The composition of the investment securities portfolio allows for deep on-balance sheet liquidity through the repo market • Approximately 95% of investment securities are U.S. Government and U.S. Government Agency / GSE securities The investment securities portfolio is also used to balance interest rate risk • The estimated deposit duration at June 30, 2026 was assumed to be longer than the loan duration (including swaps); the investment securities portfolio balanced this mismatch • The estimated price sensitivity of the investment securities portfolio (including the impact of fair value hedges) was 3.6 years, compared to 3.7 years from the prior quarter and 3.8 years from the year-ago quarter Total Investment Securities and Money Market Investments (period-end balances) $18.4 $18.2 $18.1 $17.9 $17.7 $2.9 $3.4 $3.6 $2.7 $2.5 2Q25 3Q25 4Q25 1Q26 2Q26 Total Investment Securities Money Market Investments 26% 26% 26% 25% 24% % of earning assets ($ billions)
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CREDIT QUALITY 13 Continued low levels of net charge-offs and stable non-performing assets; criticized and classified balances continued to improve Key Credit Metrics • Net charge-offs relative to average loans: • 0.06% annualized in 2Q26 • 0.12% over the last 12 months • 0.48%: NPAs / loans + OREO • NPA balance increased $6million in 2Q26 from 1Q26 • 3.72%: Classified loans / total loans • Classified balance decreased $5 million in 2Q26 from 1Q26 • 4.51%: Criticized loans / total loans • Criticized balance decreased $9 million in 2Q26 from 1Q26 Allowance for Credit Losses • 1.13% of total loans and leases, down three basis points from the previous quarter Credit Quality Ratios 5.39% 4.75% 4.70% 4.61% 4.51% 0.51% 0.54% 0.52% 0.48% 0.48% 4.43% 4.01% 3.91% 3.80% 3.72% 2Q25 3Q25 4Q25 1Q26 2Q26 Criticized / Loans NPAs / Loans + OREO Classified / Loans 224% 213% 215% 239% 227% 1.20% 1.20% 1.19% 1.16% 1.13% 2Q25 3Q25 4Q25 1Q26 2Q26 ALLL / Nonaccrual loans ACL / Loans
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COMMERCIAL REAL ESTATE SUMMARY ($14.1 BILLION BALANCE) 14 Note: Loan to Value (LTV) calculations reflect the most current bank ordered / reviewed appraisal in the denominator and the current outstanding balance in the numerator. Appraisals and evaluations are performed in accordance with regulatory guidelines. Percentages shown in graphs may not foot due to rounding. The commercial real estate portfolio is granular and well diversified, 22% of total loans Term CRE ($11.9B) • Weighted average LTVs of < 60% • Maturity distribution over the next three years: 25% (2026), 20% (2027), 15% (2028) • Average & median loan size of $4.2 million & $1.1 million • 11.0% criticized; 9.1% classified; 0.4% nonaccrual; 0.2% delinquencies Construction and Land Development ($2.2B) • Land and acquisition & development less than 2.0% of CRE portfolio • 4.1% criticized; 3.1% classified; 0.0% nonaccrual; 0.0% delinquencies Office ($1.6B) • Weighted average LTVs (< 60%) • 75% suburban and 25% central business district • Average & median loan size of $4.4 million & < $1 million • 7.8% criticized / classified; 2.3% nonaccrual; 1.1% delinquencies • Term office portfolio is 89% leased (weighted average) • Net charge-offs since 2020 <6 bps annualized • 84% term, 16% construction • Portfolio growth has been carefully managed for over a decade through disciplined concentration limits • Granular portfolio with solid sponsor or guarantor support • Collateral diversified by property type and location • Net charge-offs since 2020 <1 bps annualized Multifamily, 30% Industrial, 23%Office, 11% Retail, 12% Hospitality, 6% Residential Construction, 5% Other, 13% CRE Portfolio Composition As of Jun 30, 2026
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10.2% 10.3% 10.4% 10.6% 10.7% 10.9% 10.8% 11.0% 11.3% 11.5% 11.6% 11.8% 11.3% 11.3% 11.5% 11.6% 11.8% 12.0% 11.9% 12.0% 12.4% 12.5% 12.6% 12.8% 0% 2% 4% 6% 8% 10% 12% 14% 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Common Equity Tier 1 % ACL / Risk-weighted Assets CAPITAL STRENGTH 15 Loss-absorbing capital remains strong relative to our risk profile; low credit losses relative to capital levels as a percentage of risk-weighted assets Net Charge-offs annualized, as a percentage of risk-weighted assets 0.08% 0.05% 0.04% 0.09% 0.02% 0.21% 0.09% 0.06% 0.33% 0.04% 0.02% 0.05% 0% 2% 4% 6% 8% 10% 12% 14% 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Common Equity Tier 1 Capital and Allowance for Credit Losses as a percentage of risk-weighted assets
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FINANCIAL OUTLOOK (2Q 2027E VS. 2Q 2026A) 16 Outlook provided as of July 20, 2026 Outlook Comments Moderately Increasing Commercial loans, led by C&I and Owner Occupied, expected to drive loan growth followed by Commercial Real Estate; Consumer loans expected to contract slightly Moderately Increasing Net interest income growth expected from earning asset remix and loan and deposit growth Moderately Increasing Broad-based growth expected with capital markets contributing in an outsized way Moderately Increasing Technology costs, increased marketing, and continued investments in revenue- generating businesses expected to put mild pressure on noninterest expense; positive operating leverage expected Adjusted Customer- Related Noninterest Income1 Loan Balances (period-end) Net Interest Income Adjusted Noninterest Expense1 (1) Adjusted customer-related noninterest income outlook does not include the current or future impact of credit valuation adjustment income (loss). Adjusted noninterest expense excludes certain items. See Appendix for non-GAAP financial measures.
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ZIONS BANCORPORATION DRIVES VALUE FOR ITS STAKEHOLDERS 17 Source: Moody’s Analytics. Data as of Oct 2025. We are determined to help our clients achieve greater financial strength, help build strong, successful communities, and create economic opportunity Distinctive Local Operating Model Managing Risk Delivering Value to Our Stakeholders • Transformation of our core systems to a modern, real-time architecture improving banker productivity and customer experience • New digital products and services streamlining our customer interactions • Tangible book value per share growth exceeding 20% for three consecutive years (2023-2025) • Focus on serving small- to medium-sized businesses, resulting in a granular deposit franchise and a long-term funding advantage • Local decision making and empowered bankers support strong customer relationships • Coalition Greenwich Best Bank Awards: Ranked seventh among all U.S. banks in Middle Market & Small Business • Have built and maintained a robust risk management team and framework since the global financial crisis • Net credit losses to loans ratio that is consistently in the top quartile of peer banks • Prepared for large bank regulation due to previous SIFI experience and simpler legal structure Across 11 western states, our footprint includes some of the strongest markets in the country reflected in the quality and diversity of our portfolio • These states create ~35% of national GDP • Population and job growth outpace national average Strong Geographic Footprint
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APPENDIX 18 • Financial Results Summary • Accumulated Other Comprehensive Income (AOCI) • Balance Sheet Profitability • Loan Growth by Bank Brand and Loan Type • Earning Asset Repricing • Interest Rate Swaps • Interest Rate Sensitivity • Credit Quality Trends • Loan Loss Severity (NCOs as a percentage of nonaccrual loans) • Credit Metrics: Commercial Real Estate • Loans to Non-Depository Financial Institutions • Coalition Greenwich Recognition • Non-GAAP Financial Measures
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FINANCIAL RESULTS SUMMARY 19 (1) Adjusted pre-provision net revenue excludes certain items. See Appendix for non-GAAP financial measures; (2) Net Income before Preferred Dividends used in the numerator; (3) Net Income Applicable to Common used in the numerator; (4) Includes noninterest-bearing deposits; (5) Current period ratios and amounts represent estimates. Quarterly financial highlights Three Months Ended (Dollar amounts in millions, except per share data) June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 June 30, 2025 Earnings Results: Diluted Earnings Per Share $ 3.05 $ 1.56 $ 1.76 $ 1.48 $ 1.63 Net Earnings Applicable to Common Shareholders 452 232 262 221 243 Net Interest Income 677 662 683 672 648 Noninterest Income 460 187 208 189 190 Noninterest Expense 551 562 546 527 527 Pre-Provision Net Revenue - Adjusted(1) 332 301 331 352 316 Provision for Credit Losses 3 (7) 6 49 (1) Ratios: Return on Assets(2) 2.01 % 1.05 % 1.16 % 0.99 % 1.09 % Return on Common Equity(3) 24.3 % 13.1 % 14.9 % 13.3 % 15.3 % Return on Tangible Common Equity(3) 28.6 % 15.5 % 17.9 % 16.0 % 18.7 % Net Interest Margin 3.27 % 3.27 % 3.31 % 3.28 % 3.17 % Cost of Total Deposits(4) 1.48 % 1.48 % 1.56 % 1.67 % 1.68 % Efficiency Ratio (1) 62.2 % 65.0 % 62.3 % 59.6 % 62.2 % Effective Tax Rate 22.3 % 20.7 % 22.4 % 22.1 % 21.8 % Nonperforming Assets to Loans, Leases and OREO 0.48 % 0.48 % 0.52 % 0.54 % 0.51 % Net Loan and Lease Charge-offs to Average Loans, Annualized 0.06 % 0.03 % 0.05 % 0.37 % 0.07 % Common Equity Tier 1 Capital Ratio(5) 11.8 % 11.5 % 11.5 % 11.3 % 11.0 %
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(2.7) (2.4) (1.9) (1.7) (1.4) (3.0) (2.5) (2.0) (1.5) (1.0) (0.5) - 4Q23 4Q24 4Q25 4Q26 4Q27 Billions ACCUMULATED OTHER COMPREHENSIVE INCOME/LOSS (AOCI) 20 Note: AOCI burndown based on path of forward curve and hedges in place at June 30, 2026. Includes accretion of unrealized losses related to the 4Q22 transfers of AFS securities to HTM. Assets are assumed to experience prepayments, amortization and maturity events, in addition to interest rate resets. Steady AOCI improvement with meaningful protection against term rate volatility due to hedging strategy • AOCI is projected to improve by $239 million, or 12%, in 2026 relative to 2025 • This adds 25 basis points to the tangible common equity ratio in 2026 relative to 2025, all else equal • Hedging strategy provides meaningful protection against term rate volatility • The forward curve at 6/30/2026 assumed one rate increase in 2026 Actual Projection Based on forward curve at 6/30/2026 AOCI Projection $499 million, or 26%, projected improvement from 4Q25 to 4Q27 12% 26% Projected Improvement vs. 4Q25
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BALANCE SHEET PROFITABILITY 21 (1) Return on Tangible Common Equity is a non-GAAP measure. See Appendix for non-GAAP financial measures. Excluding $252 million of pre-tax net gains, return on average assets would have been approximately 1.13% and return on average tangible common equity for 2Q26 would have been approximately 16.6%. Profitability improved over the year-ago quarter due to increased earnings including the notable items during the quarter 1.09% 0.99% 1.16% 1.05% 2.01% 2Q25 3Q25 4Q25 1Q26 2Q26 18.7% 16.0% 17.9% 15.5% 28.6% 2Q25 3Q25 4Q25 1Q26 2Q26 Return on Assets Return on Tangible Common Equity 1
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LOAN GROWTH – BY BANK AFFILIATE AND LOAN TYPE 22 (1) Other category loans includes consumer construction, bankcard, and other consumer loan categories. Totals and percentages shown above may not foot due to rounding. Linked quarter growth across all markets; growth led by C&I and CRE Term Zions Bank, 27% CB&T, 24% Amegy, 27% NBAZ, 8% NSB, 5% Vectra, 5% CBW, 4% Other, 0.8% Commercial ($32.6B) Zions Bank, 21% CB&T, 30%Amegy, 19% NBAZ, 12% NSB, 6% Vectra, 6% CBW, 6% Commercial Real Estate ($14.1B) Consumer ($15.8B) Zions Bank, 25% CB&T, 23% Amegy, 22% NBAZ, 10% NSB, 8% Vectra, 9% CBW, 0.4% Other, 2% Period-End Linked Quarter Loan Growth (2Q26 vs. 1Q26) CommercialCREConsumer Loan Distribution by Bank and Product (in millions) Zions Bank CB&T Amegy NBAZ NSB Vectra CBW Other Total C&I (ex-Oil & Gas) 419 93 205 29 18 (3) 106 (88) 778 Owner occupied (45) (12) 54 9 7 5 (6) - 13 Energy (Oil & Gas) (2) - 88 - - 4 - - 90 Municipal 31 (74) (44) (1) (3) (2) (24) 17 (99) CRE C&D (78) (27) 1 (10) 3 45 9 - (58) CRE Term 36 191 123 73 - (15) 54 - 463 1-4 Family (82) (8) (16) (2) 7 (3) 1 (10) (113) Home Equity 37 22 15 8 7 6 6 - 101 Other1 15 (2) (4) (2) (6) (7) - 1 (6) Total net loans 330 184 422 104 33 30 146 (80) 1,169
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SIMULATED REPRICING EXPECTATIONS: EARNING ASSETS & LOANS 23 (1) Assets are assumed to experience prepayments, amortization and maturity events, in addition to interest rate resets. A substantial portion of earning assets reset within one year with additional resets in later periods 59% 8% 8% 6% 9% 10% 49% 12% 15% 5% 9% 10% ≤ 3m 4-12m 1-2 yrs 2-3 yrs 3-5 yrs > 5 yrs Percent of Loans Loans: Rate Reset / Maturity Profile1 Loans After Hedging Earning Assets: Rate Reset / Maturity Profile1 50% 8% 8% 7% 10% 17% 46% 11% 12% 6% 8% 17% ≤ 3m 4-12m 1-2 yrs 2-3 yrs 3-5 yrs > 5 yrs Percent of Earning Assets Earning Assets After Hedging
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5,552 5,542 5,538 5,533 5,531 5,558 5,269 3.34 3.34 3.34 3.34 3.34 3.34 3.32 0 2,000 4,000 6,000 8,000 10,000 12,000 2Q26 3Q26 4Q26 1Q27 2Q27 2027 2028 Average Outstanding ($B) Average Fixed Rate Paid (%) 9,937 10,150 10,280 10,096 9,857 8,682 1,312 3.64 3.58 3.58 3.59 3.67 3.67 3.91 0 2,000 4,000 6,000 8,000 10,000 12,000 2Q26 3Q26 4Q26 1Q27 2Q27 2027 2028 Average Outstanding ($B) Average Fixed Rate Received (%) PORTFOLIO INTEREST RATE HEDGES AT JUNE 30, 2026 24 Swaps and futures are used to balance our interest rate sensitivity to income and value Receive-Fixed Hedges1 (pay floating rate) Pay-Fixed Rate Hedges2 (receive floating rate) (1) Received-fixed hedges consist of hedging pools of floating rate loans or received-fixed swaps on subordinated debt. (2) Pay-fixed hedges consist of fair value swaps hedging fixed-rate AFS securities and fixed-rate commercial loans or short-term debt hedges on rolling FHLB advances. Interest rate sensitivity is managed in part with portfolio interest rate hedges 1 • In the second quarter, $1.0 billion of receive-fixed swap hedges were added with a fixed rate of 3.87%, $5.0 billion in three-month futures hedges with a yield of 4.00%, and $300 million in fair value pay-fixed hedges with a fixed rate of 3.96%. Receive-fixed swaps and futures are being added to manage asset sensitivity down. $ Millions
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INTEREST RATE SENSITIVITY – PARALLEL RATE SHOCKS 25 (1) 12-month forward simulated impact of an instantaneous and parallel change in interest rates and assumes no change in the size or composition of the earning assets excluding derivative hedge activity but does assume $1.6 billion of noninterest-bearing demand deposit migration to higher-cost products Standard parallel rate shocks suggest asset sensitivity, which is favorably positioned for rising rates (7%) (4%) 4% 7% (7%) (4%) 4% 7% −200 bps −100 bps +100 bps +200 bps Simulated Net Interest Income Sensitivity 1 as of 3/31/2026 as of 6/30/2026
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CREDIT QUALITY TRENDS RELATIVE TO PEERS 26 Source: S&P CapIQ, data as of March 31, 2026, where available. NPAs + 90 DPD = nonperforming assets (nonaccrual loans plus other real estate owned) plus loans 90 days past due and still accruing interest. Zions’ NCO/Loans ratio is frequently in the best (lowest) quartile of peers; low loss rates on NPAs NPA Ratio NPAs + 90 DPD, as a percentage of Loans + OREO NCOs / Loans (Trailing 12-month Average) 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 ZION Peer Top Quartile Peer Bottom Quartile 0.00% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 ZION Peer Top Quartile Peer Bottom Quartile
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LOAN LOSS SEVERITY 27 Source: S&P CapIQ. Calculated using the average of annualized quarterly results. When problems arise, Zions generally experiences less severe loan losses due to strong collateral and underwriting practices 14% 18% 20% 21% 23% 33% 35% 36% 40% 45% 45% 48% 56% 60% 75% ZION Annualized NCOs / Nonaccrual Loans Five Year Average (2021Q2 – 2026Q1) vs Peers Annualized NCOs / Nonaccrual Loans Fifteen Year Average (2011Q2 – 2026Q1) vs Peers 13% 17% 17% 19% 22% 30% 36% 38% 40% 43% 44% 46% 52% 53% 65% ZION >100% >100%
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COMMERCIAL REAL ESTATE PROBLEM LOANS IN FOCUS 28 Note: LTV calculations in the “Appraised Value” distribution to reflect most current appraisal in denominator and outstanding balance in the numerator. The Indexed Adjusted values are adjusted based on the MSA level Moody’s CRE Commercial Property Price Indices and adjusted from the date of most current appraisal. Approximately 8% of CRE classified balances have 2026 appraisals, 55% in 2025, 14% 2024, 24% 2023 and earlier. The commercial real estate portfolio benefits from strong LTVs, guarantor support, low delinquencies, and diversification • Improved credit quality with nonaccruals decreasing slightly, delinquencies remaining low, and low charge-offs (TTM 0.01%) - due to conservative underwriting, significant equity, and guarantor support • The ACL for CRE remains substantial relative to credit quality measures (1.3% of CRE balances, 5.3x CRE nonaccruals) 0% 5% 10% 15% 20% 25% 30% 35% <=40% 41-50% 51-60% 61-70% 71-80% 81-90% 91-100% 100%+ Classified CRE LTVs Appraised vs. Index Adjusted Index Adjusted Most Recent Appraisal (50) (40) (30) (20) (10) 0 10 20 30 Office Industrial Multifamily Change in CRE Problem Loans Levels 3/31/26 to 6/30/2026 Criticized Classified Nonaccrual 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 CRE Nonperforming Asset and Charge-offs Levels Nonaccrual % GCO QTD Annualized 30+ Days Past Due
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IN- DEPTH REVIEW: COMMERCIAL REAL ESTATE 29 Data is updated through 2Q26. LTV calculations in the “Appraised Value” distribution to reflect most current appraisal in denominator and outstanding balance in the numerator. The Indexed Adjusted values are adjusted based on the MSA level Moody’s CRE Commercial Property Price Indices and adjusted from the date of most current appraisal. Limited tail loan-to-value risk in portfolio; controlled CRE growth and improving credit metrics WAVG LTV % of CRE Term % of CRE Construction Classified % ACL % Multifamily 60% 30% 47% 13.4% 1.4% Industrial / Warehouse 51% 23% 29% 8.3% 0.8% Office 57% 13% 2% 7.2% 2.8% Retail 47% 14% 6% 2.9% 1.0% Hospitality 41% 7% 0% 0.9% 0.5% Zions has limited “tail risk” in its CRE portfolio Total CRE Problem Loan Trends as a percentage of total CRE loans ($ billions) CRE LTVs Appraised vs. Indexed 0.5 0.7 0.8 0.2 2.8 2.2 1.7 4.4 2026 2027 2028 2029+ Maturities Construction Balances Term Balances 0% 2% 4% 6% 8% 10% 12% 14% 16% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Criticized % Classified % Nonaccrual % GCO QTD Annualized 0% 5% 10% 15% 20% 25% 30% 35% <=40% 41-50% 51-60% 61-70% 71-80% 81-90% 91-100% 100%+ Index Adjusted Most Recent Appraisal 2.4 2.5 2.2 2.3 2.2 11.2 11.0 11.2 11.4 11.9 2Q25 3Q25 4Q25 1Q26 2Q26 Balance Trends Construction Balances Term Balances
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DISCIPLINED COMMERCIAL REAL ESTATE GROWTH 30 Data as of March 31, 2026; peer growth rates are normalized for significant acquisitions Commercial real estate loan growth lags peers due to continued exercise of concentration risk discipline Zions has exercised caution in CRE concentrations for more than a decade and in underwriting standards for many decades. • Key factors: • Measured and disciplined growth compared to peers • Significant borrower equity – conservative LTVs • Disciplined underwriting on debt service coverage • Diversified by geography and asset class • Limited exposure to land 0 50 100 150 200 250 300 350 400 1Q15 1Q16 1Q17 1Q18 1Q19 1Q20 1Q21 1Q22 1Q23 1Q24 1Q25 1Q26 ZION Peer Top Quartile Peer Bottom Quartile Indexed: 1Q15 = 100 Commercial Real Estate Excluding Owner Occupied
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0% 5% 10% 15% 20% 25% 30% 35% 40% <=40% 41-50% 51-60% 61-70% 71-80% 81-90% 91-100% 100%+ Index Adjusted Most Recent Appraisal IN- DEPTH REVIEW: CRE OFFICE ($1.6 BILLION BALANCE) 31 Data updated through 2Q26. LTV calculations in the “Appraised Value” distribution to reflect most current appraisal in denominator and outstanding balance in the numerator. The Indexed Adjusted values are adjusted based on the MSA level Moody’s CRE Commercial Property Price Indices and adjusted from the date of most current appraisal. CRE Office portfolio is 11% of total CRE exposure and 2.5% of total loans; charge-offs remain limited • Allowance for credit losses: 2.8% of balances / 35% of criticized balances • 11% decrease in balances year-over-year via payoffs, loan rebalance, amortization; 36% decrease in balances since 1Q 2021 • Classified levels continue to decline via loan repayment and positive property leasing; nonaccruals (1.3%) remain low • Median loan size: $1.0 million; average loan size: $4.5 million • 28% variable rate with swap, 16% fixed rate, 56% variable rate w/o swap • 33% of total office exposure has a maturity date in the next 12 months • By State: 25% UT, 19% WA, 17% CA, 14% AZ, 11% TX, 14% all other Office Problem Loan Trends as a percentage of total office loans ($ billions) When values are updated based on indexed / current values, office exposure continues to benefit from low LTVs at origination CRE Office LTVs Appraised vs. Indexed ($ billions) 0.0 0.0 0.0 0.3 0.4 0.1 0.7 2026 2027 2028 2029+ Maturities Construction Balances Term Balances 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Criticized % Classified % Nonaccrual % GCO QTD Annualized 0.0 0.0 0.0 0.0 0.0 1.7 1.7 1.7 1.6 1.6 2Q25 3Q25 4Q25 1Q26 2Q26 Balance Trends Construction Balances Term Balances
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CRE Multifamily Appraised vs. Indexed IN- DEPTH REVIEW: CRE MULTIFAMILY ($4.2 BILLION BALANCE) 32 Data is updated through 4Q25. LTV calculations in the “Appraised Value” distribution to reflect most current appraisal in denominator and outstanding balance in the numerator. The Indexed Adjusted values are adjusted based on the MSA level Moody’s CRE Commercial Property Price Indices and adjusted from the date of most current appraisal. CRE Multifamily portfolio is 30% of total CRE exposure and 7% of total loan exposure • Allowance for credit losses: 1.4% of total multifamily balances / 9% of criticized balances • Net charge-offs since 2020 <1 bps annualized • Loan balances up slightly year-over-year • Elevated criticized levels from longer lease up timelines and construction delays; nonaccruals remain at 0.0% • 78% term, 22% construction • Median loan size: $1.0 million; average loan size: $5.6 million • 17% variable rate with swap, 10% fixed rate, 73% variable rate w/o swap • By State: 28% TX, 23% CA, 15% UT, 9% AZ, 8% WA, 17% all other Multifamily Problem Loan Trends as a percentage of total multifamily loans When values are updated based on indexed / current values, multifamily exposure continues to benefit from low LTVs at origination ($ billions)($ billions) 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% <=40% 41-50% 51-60% 61-70% 71-80% 81-90% 91-100% 100%+ Index Adjusted Most Recent Appraisal 0% 5% 10% 15% 20% 25% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Criticized % Classified % Nonaccrual % GCO QTD Annualized 0.9 1.0 0.8 0.8 0.7 3.1 2.9 3.2 3.3 3.5 2Q25 3Q25 4Q25 1Q26 2Q26 Balance Trends Construction Balances Term Balances 0.1 0.2 0.2 0.1 1.4 0.6 0.5 0.8 2026 2027 2028 2029+ Maturities Construction Balances Term Balances
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IN- DEPTH REVIEW: CRE INDUSTRIAL ($3.2 BILLION BALANCE) 33 Data is updated through 1Q26. LTV calculations in the “Appraised Value” distribution to reflect most current appraisal in denominator and outstanding balance in the numerator. The Indexed Adjusted values are adjusted based on the MSA level Moody’s CRE Commercial Property Price Indices and adjusted from the date of most current appraisal. CRE Industrial portfolio is 23% of total CRE exposure and 5% of total loan exposure • Allowance for credit losses: 0.8% of balances / 7.8% of criticized balances • Net charge-offs since 2020 <1 bps annualized • Loan balances up 7.7% year-over-year • Elevated but declining criticized levels from longer lease up timelines and construction delays; nonaccruals remain low at 0.3% • 87% term, 13% construction • Median loan size: $1.7 million; average loan size: $5.2 million • 18% variable rate with swap, 10% fixed rate, 72% variable rate w/o swap • By State: 27% CA, 16% TX, 16% AZ, 15% UT, 8% NV, 18% all other Industrial Problem Loan Trends as a percentage of total industrial loans ($ billions) When values are updated based on indexed / current values, industrial exposure continues to benefit from low LTVs at origination CRE Industrial Appraised vs. Indexed 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 Criticized % Classified % Nonaccrual % GCO QTD Annualized 0.4 0.4 0.3 0.4 0.4 2.6 2.7 2.7 2.7 2.8 2Q25 3Q25 4Q25 1Q26 2Q26 Balance Trends Construction Balances Term Balances 0.1 0.1 0.2 0.1 0.6 0.5 0.4 1.0 0.0 0.5 1.0 1.5 2.0 2.5 3.0 3.5 2026 2027 2028 2029+ Maturities Construction Balances Term Balances 0% 5% 10% 15% 20% 25% 30% 35% 40% <=40% 41-50% 51-60% 61-70% 71-80% 81-90% 91-100% 100%+ Index Adjusted Most Recent Appraisal
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LOANS TO NON -DEPOSITORY FINANCIAL INSTITUTIONS ( NDFI) ($2.5B BALANCE) 34 (1) Peer information sourced from S&P Capital IQ through March 31, 2026, adjusted for mergers and acquisitions where applicable. Peer data also includes the impact of any reclassifications that resulted from updated call report guidance. Loans to NDFIs make up 8% of the commercial portfolio and are 4% of total loans; portfolio growth has been limited Zions’ NDFI Portfolio Allocation Business Credit: BDCs, SBIC, Senior Loan Funds, Equipment Leasing $991 | 39% Mortgage Credit: REITs, Residential and Commercial Mortgage $547 | 22% Consumer Credit: Consumer Secured and Unsecured Loans $307 | 12% Private Equity Funds: Capital Call Lines, Subscription Lines $219 | 9% Other Loans: Family Office, Insurance, Broker/Dealer $454 | 18% Total Loans to Non-Depository Financial Institutions $2,518 Portfolio characteristics: • Diversified across many lending segments and asset classes • Loans tend to be governed by a borrowing base against diversified pools; structure depends on relationship length, borrower sophistication, and borrower industry • Average loan size is approximately $9.5 million; median size of $0.9 million • Problem loan levels remain low; Criticized 1.2%, Classified 1.2%, Nonaccrual 0.4% • Less than $500 million (<1% of total loans) in combined outstanding exposure to Business Development Corporations and Private Debt funds $ millions; as of 6/30/2026 0 200 400 600 800 1,000 1,200 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 ZION Peer Median Peer Top Quartile Peer Bottom Quartile Indexed: 1Q20 = 100 NDFI Growth1 4% 0% 5% 10% 15% 20% 25% 30% ZION Peer Non-Depository Financial Institutions Concentration as a percentage of total loans
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MIDDLE MARKET COALITION GREENWICH BEST BANK AWARDS 35 Zions compares favorably to global competitors (JP Morgan, Bank of America, Wells Fargo, US Bank) Greenwich Best Bank Awards • Ranked seventh among all U.S. banks for Middle Market & Small Business with 15 Best Bank Awards • Consistently recognized as an industry leader - one of only four U.S. banks to average 15 or more wins overall since the inception of the awards in 2009 • Since the awards’ inception, Zions has received the second highest number of middle market awards Middle Market (Revenue of $10MM-$500MM) Zions Bancorp Major Bank Competitors (Avg. Score) Highest Major Bank Competitor's Score Zions’ Rank Overall Satisfaction - Customers 49 43 48 1st Bank You Can Trust 78 50 53 1st Values Long-Term Relationships 78 53 58 1st Ease of Doing Business 66 47 51 1st Overall Customer Satisfaction: -with Bankers 79 53 57 1st -with TMO/CM Specialist 62 49 58 1st -with Cash Management 53 44 48 1st Net Promoter Score** 55 40 54 1st Coalition Greenwich Customer Satisfaction % Excellent Citations* Source: Coalition Greenwich Voice of Client – 2025 US Commercial Banking Study *Excellent Citations are a "5" on a 5 point scale from "5" excellent to "1" poor ** NPS Range: World Class 70+; Excellent 50+; Very Good 30+; Good 0 - 30; Needs Improvement (100) - 0 Awards don’t define us … but this consistency confirms the strength of our model $10MM-500MM
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NON- GAAP FINANCIAL MEASURES 36 Note: Excluding the $15 million charitable contribution, the efficiency ratio for the three months ended December 31, 2025 would have been 60.6%. In millions 2Q26 1Q26 4Q25 3Q25 2Q25 (a) Total noninterest expense $551 $562 $546 $527 $527 LESS adjustments: Severance costs 1 3 5 6 2 Other real estate expense 1 - (2) - - Amortization of core deposit and other intangibles 2 2 2 2 2 FDIC special assessment (6) (1) (9) (2) - SBIC investment success fee accrual 7 - 2 1 2 (b) Total adjustments 5 4 (2) 7 6 (c) = (a - b) Adjusted noninterest expense 546 558 548 520 521 (d) Net interest income 677 662 683 672 648 (e) Fully taxable-equivalent adjustments 11 11 11 11 13 (f) = (d + e) Taxable-equivalent net interest income (TE NII) 688 673 694 683 661 (g) Customer-related noninterest income 182 172 177 163 164 (h) Net credit valuation adjustment (CVA) 1 (2) 2 (11) - (i) = (g - h) Adjusted customer-related noninterest income $181 $174 $175 $174 $164 (j) Noncustomer-related noninterest income 278 15 31 26 26 (k) Securities gains (losses), net 269 3 21 11 14 (l) = (j - k) Adjusted noncustomer-related noninterest income 9 12 10 15 12 (m) = (f + g + j) Combined income $1,148 $860 $902 $872 $851 (n) = (f + i + l) Adjusted tax-equivalent revenue $878 $859 $879 $872 $837 (m) – (a) Pre-provision net revenue (PPNR) $597 $298 $356 $345 $324 (n) – (c) Adjusted pre-provision net revenue (PPNR) $332 $301 $331 $352 $316 (c) / (n) Efficiency Ratio 62.2% 65.0% 62.3% 59.6% 62.2%
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NON- GAAP FINANCIAL MEASURES (CONTINUED) 37 Excluding $252 million of pre-tax net gains, average tangible common equity for the three months ended June 30, 2026 would have been approximately 16.6%. In millions 2Q26 1Q26 4Q25 3Q25 2Q25 Return on Average Tangible Common Equity (Non-GAAP) Net earnings applicable to common $452 $232 $262 $221 $243 Adjustments, net of tax: Amortization of core deposit and other intangibles 2 2 2 2 2 (a) Net earnings applicable to common, net of tax $454 $234 $264 $223 $245 Average common equity (GAAP) $7,457 $7,194 $6,956 $6,616 $6,357 Average goodwill and intangibles (1,088) (1,090) (1,093) (1,095) (1,097) (b) Average tangible common equity (non-GAAP) $6,369 $6,104 $5,863 $5,521 $5,260 (c) Number of days in quarter 91 90 92 92 91 (d) Number of days in year 365 365 365 365 365 (a/b/c)*d Return on average tangible common equity (non- GAAP) 28.6% 15.5% 17.9% 16.0% 18.7%
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