ANNUAL MEETING OF SHAREHOLDERS September 14, 2023 1 NASDAQ: CARV CELEBRATING 75 YEARS OF SERVICE TO THE COMMUNITY

Forward Looking Statements 10 Certain statements contained in this presentation are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements which may be identified by the use of such words as “believe,” “expect,” “anticipate,” “intend,” “should,” “could,” “planned,” “estimated,” “potential” and similar terms and phrases. Forward-looking statements are subject to risks and uncertainties, including, but not limited to, those related to the economic environment, particularly in the market areas in which Carver Bancorp, Inc. (the “Company”) and Carver Federal Savings Bank (the “Bank”) operate, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, credit risk management, asset-liability management, the financial and securities markets and the availability of and costs associated with sources of liquidity. The Company wishes to caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above could affect the Company’s financial performance and could cause the actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company and the Bank undertake no obligation to update these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made.

Presentation Highlights by Michael T. Pugh, President & CEO 10 75 Years of Serving our Customers Social Impact Fiscal Year 2023 Highlights Leadership & Governance Questions and Answers

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This year we celebrate our 75th Anniversary. Carver has maintained its mission to provide New Yorkers with access to capital and competitively priced banking solutions. As one of the largest African- and Caribbean-American managed and publicly traded Minority Depository Institutions in the United States, Carver continues to provide access to capital and banking services to Minority and Women-owned Business Enterprises (MWBEs) and consumers across the Greater New York City region. 10

Customer reach, access and convenience remains a top priority. Seven full-service branches and 24/7 ATM centers serve low- to moderate- income communities in Manhattan, Brooklyn and Queens. Member of the Allpoint, Wells Fargo and JPMorgan ATM networks giving customers access to 84,000 ATMs nationwide. Online account opening available and digitally present in 9 states from Massachusetts to Virginia, including Washington, DC. Offering a full range of traditional, online, and mobile banking services. Carver’s free mobile app is available through the Apple and Google Play app stores. Certified as a Community Development Financial Institution by the U.S. Treasury and regulated by the Office of the Comptroller of the Currency. 10

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Leader in Community Banking Launched a $5 million innovative Small Business Microloan Program Launched a Minority Women Business Pitch Competition with community partners offering $50,000 in grant giveaways Leveraged federal and state grants for approximately $2 million to support entrepreneurs Major supporter of Historically Black Colleges & Universities Community Development Financial Institution awarded “Outstanding” CRA ratings for the last 19 years 10

Fiscal Year 2023 Highlights 10

Total Assets, Loans and Deposits ($ in millions) Carver Bancorp’s Fiscal Year begins April 1 and ends March 31 **Compound Annual Growth Rate 13 Total Assets CAGR** 7.71% Total Loans CAGR 11.83% Total Deposits CAGR 7.10% $579 $677 $735 $723 $424 $478 $574 $593 $489 $557 $628 $600 2020 2021 2022 2023 2020 2021 2022 2023 2020 2021 2022 2023

Selected Statistical Data 14

Leadership and Governance 14

Carver Board of Directors Lewis P. Jones III Chairman of the Board Since 2013 Kenneth J. Knuckles Vice Chairman Since 2013 Colvin W. Grannum Since 2013 Jillian E. Joseph Since 2019 Robin L. Nunn Since 2022 Craig C. MacKay Since 2017 Michael T. Pugh President & CEO Since 2015 Dr. Pazel G. Jackson, Jr. Vice Chairman Since 1997 14

Questions and Answers 14