Umpqua Holdings Corporation 2nd Quarter 2021 Earnings Conference Call Presentation July 22, 2021

2 This presentation includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the SEC. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “target,” “projects,” “outlook,” “forecast,” “will,” “may,” “could,” “should,” “can” and similar references to future periods. In this investor presentation we make forward-looking statements about Next Gen 2.0 initiatives including cost savings projections, human digital product capabilities and completion of store consolidations. Risks that could cause results to differ from forward-looking statements we make are set forth in our filings with the SEC and include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, and any slowdown in economic growth particularly in the western United States; the effect of the COVID-19 pandemic, including on our credit quality, deferral programs, and business operations, as well as its impact on general economic and financial market conditions; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that exceeds current consensus estimates; our ability to effectively manage problem credits; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; and changes in laws or regulations. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking regulations), and other factors deemed relevant by the Company’s Board of Directors, and may be subject to regulatory approval or conditions. Forward-looking Statements

3 Next Gen 2.0 - Initiative Updates Continuing to modernize the bank, advance technology initiatives, and improve operating leverage. Balanced Growth Human Digital Operational Excellence Target: $39-$56mm NIE reduction ◦ 50% in 2021, 70% in 2022, and 100% in 2023 Initiatives Completed In Q2 2021 ◦ Sale of Umpqua Investments: Closed Q2 2021 ◦ Store Consolidations: ▪ 12 stores consolidated. Total consolidations under Next Gen 2.0 program now 19. ▪ Announced additional 16 store locations for consolidation by end of year. Targeting total of 30-50 consolidations by year-end 2022. ◦ Facility Rationalization: Exited additional back office locations. Customer Acquisition Efforts Balanced Across Portfolios: • $650 mm (3.2%) quarterly non-PPP loan growth resulting from pipeline pull through in multiple lines of business: ◦ CRE: $282 million (3%) quarterly loan growth ◦ RRE: $208 million (4%) quarterly loan growth ▪ Residential Mortgage: $187mm ▪ HELOC: $21mm ◦ Commercial (Non-PPP): $165 million (3%) loan growth Converting New to Bank Paycheck Protection Program (PPP) Customers: • ~6,600 PPP loans were processed for customers new to the bank in the first & second rounds of PPP. • As of Q2 2021, relationships have been expanded with 2,390 (36%) customers for additional products and services ranging from additional deposit, credit, and treasury management products. New Products Launched: • TM Essentials - provides a package of digital offerings for small business clients. • Piloting Consolidated Payments - allows commercial customers ability to fully outsource payments using wires, ACH, checks, and card with APIs connecting to 160 different accounting platforms. Customers Engaging Via Digital Channels At An Accelerated Pace • 1H 2021 compared to 1H 2020: ◦ 18% more mobile deposit transactions ◦ 63% more Zelle® transactions ◦ 6% more average daily sessions on mobile banking app ◦ Umpqua Bank Go-To® total enrollments over 90,000 and customer messages within platform up 5% $3 $5 $14 $2 $24 $7 $31 7 stores in 2H 2020 12 stores in 1H 2021 Sale of Umpqua Investments Back Office Facilities Saves Program to Date Total (Q2 2021) 16 stores 2H 2021 Expected Total By YE 2021 OpEx Progress Update: $24mm through Q2 2021, $31mm by YE 2021 $’s in millions

Q2 2021 Highlights & Ratios Q2 2021

5 Gross loans and leases decreased $17.1 million primarily due to an increase of non-PPP loans of $650.5 million or 3.2% offset by the expected decrease in PPP loan balances of $667.6 million due to processed forgiveness and payoffs. Q2 2021 Highlights (Compared to Q1 2021) Deposit balances increased by $266.7 million or 1.0%, primarily attributable to growth in interest bearing demand deposits of $221.6 million and growth in non-interest bearing deposits of $218.4 million, partially offset by a decline in time deposits of $290.5 million. Net interest income increased by $8.3 million, on a quarter to quarter basis primarily due to higher average loan balances and lower interest expense in the current period. Provision for credit losses decreased by $23.0 million due to improvement in economic forecasts used in the credit models. Net charge-offs decreased by eight basis points to 0.25% of average loans and leases (annualized). Non-interest income decreased by $17.7 million, driven primarily by a decrease in net mortgage banking revenue of $20.6 million compared to the prior period. Non-interest expense increased by $1.8 million, primarily due to an increase in exit disposal costs of $3.5 million, an increase in professional fees of $1.1 million, offset by an increase of deferred origination costs of $1.7 million and a decrease in FDIC assessment costs of $1.0 million. Non-performing assets to total assets decreased two basis points to 0.17%. Estimated total risk-based capital ratio of 15.4% and estimated Tier 1 common to risk weighted assets ratio of 12.4%. Paid a quarterly cash dividend of $0.21 per common share on May 28, 2021, to shareholders of record as of May 18, 2021.

6 Selected Ratios Footnotes: 1. Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. 2. Capital ratio estimated for current quarter, pending completion and filing of regulatory reports. For the Quarter Ended Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Performance Return on average assets 1.54 % 1.49 % 2.04 % 1.68 % 0.73 % Return on average tangible assets 1.55 % 1.49 % 2.04 % 1.68 % 0.73 % Return on average common equity 17.25 % 16.33 % 22.92 % 19.48 % 8.46 % Return on average tangible common equity 17.33 % 16.43 % 23.07 % 19.62 % 8.53 % Efficiency ratio - consolidated 58.96 % 56.74 % 58.82 % 54.52 % 55.40 % Net interest margin - consolidated 3.20 % 3.18 % 3.35 % 3.08 % 3.09 % Credit Quality Non-performing loans and leases to loans and leases 0.22 % 0.25 % 0.31 % 0.34 % 0.32 % Non-performing assets to total assets 0.17 % 0.19 % 0.24 % 0.27 % 0.25 % Net charge-offs to average loans and leases (annualized) 0.25 % 0.33 % 0.35 % 0.24 % 0.29 % Capital Tangible common equity to tangible assets 1 9.1 % 8.9 % 9.2 % 8.8 % 8.5 % Tier 1 common to risk-weighted asset ratio 2 12.4 % 12.6 % 12.3 % 11.7 % 11.2 % Total risk-based capital ratio 2 15.4 % 15.8 % 15.6 % 15.0 % 14.5 %

Summary Financial Statements & Segment Financials Q2 2021

8 Summary Income Statement Footnotes: Tables may not foot due to rounding (in millions) For the Quarter Ended Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Net interest income before provision $229.8 $221.4 $234.9 $216.6 $212.5 (Recapture) provision for credit losses (23.0) — — (0.3) 87.1 Net interest income after provision 252.8 221.4 234.9 216.9 125.4 Non-interest income 91.1 108.8 124.0 131.9 115.5 Non-interest expense 189.4 187.6 211.3 190.2 181.9 Income before provision for income taxes 154.4 142.6 147.5 158.6 59.0 Provision (benefit) for income taxes 38.3 34.9 (3.2) 33.8 6.1 Net income $116.1 $107.7 $150.7 $124.9 $52.9 Earnings per share, diluted $0.53 $0.49 $0.68 $0.57 $0.24

9 Selected Balance Sheet Footnotes: Tables may not foot due to rounding 1. Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. (in millions) Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Total assets $30,285.0 $30,036.7 $29,235.2 $29,437.4 $29,645.2 Interest bearing cash and temporary investments 2,688.3 2,861.8 2,203.0 1,849.1 1,853.5 Investment securities available for sale, fair value 3,474.0 3,167.8 2,932.6 2,898.7 2,865.7 Loans and leases, gross 22,143.7 22,160.9 21,779.4 22,426.5 22,671.5 Allowance for credit losses on loans and leases (279.9) (311.3) (328.4) (345.0) (356.7) Goodwill and other intangibles, net 11.1 14.9 16.1 17.3 18.6 Deposits 26,153.6 25,886.8 24,622.2 24,669.8 24,844.4 Securities sold under agreements to repurchase 480.3 420.4 375.4 388.0 398.4 Borrowings 111.4 281.4 771.5 996.5 1,096.6 Total shareholders' equity 2,766.3 2,681.9 2,704.6 2,610.2 2,538.3 Ratios: Loan to deposit ratio 84.7% 85.6% 88.5% 90.9% 91.3% Book value per common share $12.54 $12.16 $12.28 $11.85 $11.53 Tangible book value per common share¹ $12.49 $12.10 $12.21 $11.77 $11.44 Tangible common equity to tangible assets¹ 9.1% 8.9% 9.2% 8.8% 8.5%

10 Segments - Core Banking Footnotes: 1. Credit represents the internal charge of centrally provided support services and other corporate overhead to the mortgage banking segment. (In Thousands) For the Quarter Ended Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Net interest income $ 226,915 $ 217,574 $ 230,430 $ 212,215 $ 208,245 Provision (recapture) for credit losses (22,996) — 29 (338) 87,085 Non-interest income (Loss) gain on sale of investment securities, net 4 (702) (173) (112) 563 Gain (loss) on swap derivatives, net (4,481) 11,750 3,955 1,765 (823) Non-interest income (excluding above items) 50,933 32,403 40,921 39,678 31,697 Total non-interest income 46,456 43,451 44,703 41,331 31,437 Non-interest expense Exit and disposal costs 4,728 1,200 725 792 548 Non-interest expense (excluding above items) 146,877 145,161 171,634 148,519 141,448 Allocated expenses, net1 970 (790) (3,565) (2,976) (1,963) Total non-interest expense 152,575 145,571 168,794 146,335 140,033 Income (loss) before income taxes 143,792 115,454 106,310 107,549 12,564 Provision (benefit) for income taxes 35,630 28,106 (13,508) 20,988 (5,544) Net income (loss) $ 108,162 $ 87,348 $ 119,818 $ 86,561 $ 18,108 Effective Tax Rate 25 % 24 % (13) % 20 % (44) % Efficiency Ratio 56 % 56 % 61 % 58 % 58 % Total assets 29,720,182 29,529,769 28,438,813 28,652,477 28,942,285 Loans held for sale — — 78,146 — — Total loans and leases 22,143,739 22,160,860 21,779,367 22,426,473 22,671,455 Total deposits 25,820,776 25,425,339 24,200,012 24,102,498 24,421,486 Key Rates, end of period: 10 year CMT 1.45 % 1.74 % 0.93 % 0.69 % 0.66 % FHLMC 30 year fixed 2.98 % 3.18 % 2.67 % 2.88 % 3.13 %

11 Segments - Mortgage Banking Footnotes: 1. Represents the internal charge of centrally provided support services and other corporate overhead to the mortgage banking segment. (In Thousands) For the Quarter Ended Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Net interest income $ 2,848 $ 3,857 $ 4,477 $ 4,359 $ 4,258 Provision for credit losses — — — — — Non-interest income Residential mortgage banking revenue: Origination and sale 41,367 62,505 83,388 98,703 86,781 Servicing 9,120 9,087 9,497 8,796 8,533 Change in fair value of MSR asset: Changes due to collection/realization of expected cash flows over time (4,366) (4,545) (4,431) (4,878) (5,042) Changes due to valuation inputs or assumptions (1,678) (2,014) (9,426) (12,244) (6,395) Non-interest income (excluding above items) 176 316 229 216 166 Total non-interest income 44,619 65,349 79,257 90,593 84,043 Non-interest expense Non-interest expense 37,795 41,231 38,953 40,896 39,914 Allocated expenses, net1 (970) 790 3,565 2,976 1,963 Total non-interest expense 36,825 42,021 42,518 43,872 41,877 Income (loss) before income taxes 10,642 27,185 41,216 51,080 46,424 Provision (benefit) for income taxes 2,661 6,796 10,304 12,770 11,606 Net income (loss) $ 7,981 $ 20,389 $ 30,912 $ 38,310 $ 34,818 Effective Tax Rate 25 % 25 % 25 % 25 % 25 % Efficiency Ratio 78 % 61 % 51 % 46 % 47 % Total assets 564,783 506,911 796,362 784,964 702,963 Loans held for sale 429,052 376,481 688,079 683,960 605,399 Total deposits 332,777 461,494 422,189 567,285 422,892 Key Rates, end of period: 10 year CMT 1.45 % 1.74 % 0.93 % 0.69 % 0.66 % FHLMC 30 year fixed 2.98 % 3.18 % 2.67 % 2.88 % 3.13 % For the Quarter Ended Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 LHFS Production Statistics: Closed loan volume for-sale 1,253,023 1,635,532 1,769,432 1,922,789 1,826,095 Gain on sale margin 3.30% 3.82% 4.71% 5.13% 4.75% Direct LHFS expense 25,459 31,151 33,210 35,678 34,057 Direct LHFS expenses as % of volume 2.03 % 1.90 % 1.88 % 1.86 % 1.87 % MSR Statistics: Residential mortgage loans serviced for others 12,897,032 13,030,467 13,026,720 12,964,361 12,746,125 MSR, net 102,699 100,413 92,907 93,248 96,356 MSR as % of serviced portfolio 0.80% 0.77% 0.71% 0.72% 0.76%

Income Statement Highlights Q2 2021

13 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Reported Net Interest Income $212.5 $216.6 $234.9 $221.4 $229.8 Accretion Related to Acquired Loans (3.1) (3.4) (2.8) (2.2) (2.3) PPP Accrued Interest (3.5) (5.1) (5.0) (4.6) (4.6) PPP Processing Fees (6.9) (8.1) (24.2) (14.9) (15.8) Adjusted Net Interest Income excluding acquired loan accretion and PPP $199.0 $200.0 $202.9 $199.7 $207.1 Net Interest Income Reported Net Interest Income $212.5 $216.6 $234.9 $221.4 $229.8 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 $150.0 $160.0 $170.0 $180.0 $190.0 $200.0 $210.0 $220.0 $230.0 $240.0 Adjusted Net Interest Income excluding acquired loan accretion and PPP $199.0 $200.0 $202.9 $199.7 $207.1 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 $150.0 $160.0 $170.0 $180.0 $190.0 $200.0 $210.0 $220.0 $230.0 $240.0 (in m ill io ns ) (in m ill io ns )

14 NIM – MBS & CMO Premium Amortization & Recapture Details Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 MBS & CMO Premium in $ millions (Amortization)/Recapture $(9.0)mm $(7.4)mm $(5.4)mm $(3.3)mm $(2.6)mm Net NIM Impact in basis points Accretive/(Dilutive) (0.13) % (0.10) % (0.08) % (0.05) % (0.04) % Net Interest Margin Footnotes: 1. PPP net impact includes both accrued interest on PPP loans and PPP processing fees Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Reported Net Interest Margin 3.09 % 3.08 % 3.35 % 3.18 % 3.20 % (Accretion) Related to Acquired Loans (0.05) % (0.05) % (0.04) % (0.03) % (0.03) % (Accretion)/Dilution Related to Net PPP Impact¹ 0.01 % 0.03 % (0.19) % (0.08) % (0.09) % Adjusted Net Interest Margin excluding acquired loan accretion and PPP 3.05 % 3.06 % 3.12 % 3.07 % 3.08 % Net Interest Margin 3.09% 3.08% 3.35% 3.18% 3.20%3.05% 3.06% 3.12% 3.07% 3.08% Reported Net Interest Margin Adjusted Net Interest Margin excluding acquired loan accretion and PPP Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 —% 1.00% 2.00% 3.00% 4.00%

15 Non-Interest Income Footnotes: Tables may not foot due to rounding 1. Commercial product revenue includes Swaps, M&A Advisory, Syndication, and International Banking revenue (in millions) For the quarter ended Q2 2021 Q1 2021 Q4 2020 Q3 2020 Q2 2020 Service charges on deposit $10.3 $9.6 $10.2 $10.4 $8.8 Card-based fees 10.3 7.4 7.8 7.1 5.9 Brokerage revenue 1.1 3.9 4.1 3.7 3.8 Residential mortgage banking revenue, net 44.4 65.0 79.0 90.4 83.9 Gain (loss) on sale of debt securities, net — — — — 0.3 Gain on equity securities, net — (0.7) (0.2) (0.1) 0.2 Gain on loan and lease sales, net 5.3 1.4 3.4 1.1 1.1 BOLI income 2.1 2.1 2.1 2.1 2.1 Other Income Commercial product revenue¹ $8.1 $2.8 $3.3 $3.5 $4.1 Commercial servicing revenue 0.7 0.7 0.6 0.7 0.6 Loan related fees 5.8 2.1 2.8 2.7 2.9 Misc. Income 7.4 2.7 6.9 8.6 2.6 Swap Derivative Gain/(Loss) (4.5) 11.8 4.0 1.8 (0.8)

16 $181.9 $190.2 $211.3 $187.6 $189.4 55.4% 54.5% 58.8% 56.7% 59.0% Non-interest expense Efficiency ratio Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 $155.0 $160.0 $165.0 $170.0 $175.0 $180.0 $185.0 $190.0 $195.0 $200.0 $205.0 $210.0 $215.0 40.0% 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 110.0% Non-Interest Expense Non-Interest Expense and Efficiency Ratio (in millions) Non-Interest Expense Bridge (in millions) $187.6 $3.5 $1.1 $(1.7) $(1.0) $(0.1) $189.4 Q 1 20 21 N on -In te re st E xp en se Ex it & D is po sa l C os ts Pr of es si on al F ee s D ef er re d O rig in at io n C os ts FD IC A ss es sm en t C os ts O th er Q 2 20 21 N on -In te re st E xp en se

Balance Sheet Highlights Q2 2021

18 Loan and Deposit Growth Loans and Leases (Gross) ($ in billions) Total Deposits ($ in billions) As of June 30, 2021 As of June 30, 2021 $6.5 $7.2 $7.7 $15.3 $16.8 $17.4 $19.0 $20.4 $21.2 $21.8 $22.1 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q2 2021 $— $5.0 $10.0 $15.0 $20.0 $25.0 $9.2 $9.4 $9.1 $16.9 $17.7 $19.0 $19.9 $21.1 $22.5 $24.6 $26.2 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Q2 2021 $— $5.0 $10.0 $15.0 $20.0 $25.0 48% 27% 24% 1% Commercial Real Estate Commercial Residential Consumer & Other —% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 41% 13% 29% 9% 8% Demand, non-interest bearing Demand, interest bearing Money market Savings Time —% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

19 36.1% 37.3% 37.6% 39.1% 38.0% 26.5% 26.5% 27.1% 27.2% 29.0% 37.4% 36.2% 35.3% 33.7% 33.0% Fixed Rate Floating Rate (monthly repricing) Adjustable (>1 month repricing) Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 —% 20.0% 40.0% 60.0% 80.0% 100.0% Loan and Lease Portfolio Repricing Schedule Footnotes: Tables may not foot due to rounding 1. Includes Loans Held For Sale Loans At Floor $5.3B (24% of portfolio) in Adjustable and Floating Rate loans were at their respective floor as of June 30, 2021. Floating Rate Breakout Q2 2021¹ Adjustable Rate Breakout Q2 2021¹ 39.8% 23.2% 2.4% 20.7% 13.9% 6 Month 12 Month 3 Year 5 Year Other Loans and Leases Portfolio1 26.6% 72.7% 0.7% Prime Libor 1 Month Other

20 Loan and Lease Portfolio Characteristics Footnotes: Balances and delinquencies as of June 30, 2021. Annualized net charge-off rate for Q2 2021. LTV, FICO and Debt Service Coverage (DSC) are based on weighted average for portfolio. LTV for the Mortgage portfolio represents average LTV based on most recent appraisal against updated loan balance. Totals may not foot due to rounding. Mortgage • Represents 19% of overall portfolio • Total delinquencies of 0.71% • Annualized net charge-off rate of (0.01%) • Average loan size of $426,000 • Average FICO of 757 and LTV of 64% Non-owner Occupied CRE • Represents 16% of overall portfolio • Total delinquencies of 0.11% • Annualized net charge-off rate of (0.02%) • Average loan size of $1.8 million • Average LTV of 53% and DSC of 1.9 Commercial & Industrial • Represents 21% of overall portfolio • Total delinquencies of 0.17% • Annualized net charge-off rate of 0.06% • Average loan size of $300,000 Multifamily • Represents 16% of overall portfolio • Total delinquencies of 0.02% • Annualized net charge-off rate of 0.00% • Average loan size of $1.9 million • Average LTV of 55% and DSC of 1.6 Owner Occupied CRE • Represents 11% of overall portfolio • Total delinquencies of 0.31% • Annualized net charge-off rate of 0.00% • Average loan size of $955,000 • Average LTV of 57% and DSC of 1.8 Lease & Equipment Finance (FinPac) • Represents 6% of overall portfolio • Total delinquencies of 1.87% • Annualized net charge-off rate of 4.12% • ~10% average yield • Average loan & lease size of $36,000 Geographic Diversification Puget Sound 16% OR Other 12% Northern CA 12% Southern CA 19% Portland/Vanc 13% Bay Area 11% WA Other 6% Other 11%

21 Capital Management Footnotes: 1. Regulatory capital ratios are estimates pending completion and filing of the Company’s regulatory reports. 2. Greater of Regulatory Well Capitalized Threshold or Capital Adequacy Threshold + Capital Conservation Buffer (2.5%) 3.“Excess” Capital defined as capital above thresholds above internal policy limits All regulatory capital ratios¹ remained in excess of well-capitalized and internal policy limits Focused on providing long term value for our shareholders Announced authorization of new program to repurchase up to $400 million of common stock. Excess capital at the bank level is approximately $548mm. Holding company ratios are shown to the right. Paid a quarterly cash dividend of $0.21 per common share on May 28, 2021 to shareholders of record as of May 18, 2021. 9.1% 9.2% 12.4% 12.4% 15.4% 5.0% 7.0% 8.5% 10.5% 6.0% 1.5% 2.0% 0.5% 1.5% 3.1% 2.7% 3.4% 3.4% 3.4% Capital Threshold² In-House Policy Floor "Excess" Capital³ Tangible Common Equity/Tangible Assets Tier 1 Leverage Tier 1 Common Risk Based Tier 1 Risk Based Total Risk Based —% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0%

Credit Quality Q2 2021

23 Current Expected Credit Loss (“CECL”) Footnotes: 1. Total includes $19.8 mm for Reserve for Unfunded Commitments 2. Total includes $14.5 mm for Reserve for Unfunded Commitments Loan Segment 3/31/2021 Q2 2021 Net Charge-offs Reserve build 6/30/2021 % of loans and leases outstanding Commercial $47,893 ($129) ($1,127) $46,637 1.00 % Lease & Equipment Finance $82,745 ($13,283) $7,436 $76,898 5.35 % CRE $170,143 ($40) ($31,058) $139,045 1.31 % Residential/Home Equity $22,378 $209 $4,419 $27,006 0.51 % Consumer $7,884 ($378) ($2,666) $4,840 2.40 % Total $331,043 ¹ ($13,621) ($22,996) $294,426 ² 1.33 % % of loans and leases outstanding 1.49 % 1.33 % % of loans and leases outstanding – ex PPP loans 1.65 % 1.42 % Allowance For Credit Losses ($ in 000’s) CECL Notes Used Moody’s May consensus economic forecast Key Components of the Moody’s economic forecast include: • Includes GDP average annualized growth of 7.4% in 2021 • Average annualized unemployment rate of 5.5% in 2021 with return to <5% unemployment by Q4 2021 • Includes Home Price Index (HPI) annualized growth of 3.7% in 2021

24 Credit Quality Pr ov is io n Ex pe ns e ($ in m ill io ns ) N on perform ing assets to total assets Provision Expense & Non-Performing Assets to Total Assets $87.1 $(0.3) $— $— $(23.0) 0.25% 0.27% 0.24% 0.19% 0.17% Provision expense Non Performing Assets To Total Assets Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 $(40.0) $(20.0) $— $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 —% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% C la ss ifi ed L oa ns / To ta l L oa ns C lassified A ssets / R B C Classified Assets 0.68% 0.88% 0.92% 0.74% 0.74% 7.00% 8.70% 8.60% 7.00% 7.00% Classified Loans to Total Loans Classified Assets to Risk-Based Capital Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 —% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 6.00% 7.00% 8.00% 9.00% 10.00% 11.00% 12.00% 13.00% 14.00% 15.00% A C L ($ in m ill io ns ) A llow ance / Total Loans and Leases Allowance for Credit Losses $383.1 $369.4 $348.7 $331.0 $294.4 1.69% 1.65% 1.60% 1.49% 1.33% Allowance for credit losses Allowance for credit losses to total loans and leases Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 $— $40.0 $80.0 $120.0 $160.0 $200.0 $240.0 $280.0 $320.0 $360.0 $400.0 $440.0 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 1.80% Net Charge-offs to Average Loans and Leases (annualized) 0.09% 0.02% 0.04% 0.03% 0.01% 3.05% 3.28% 4.87% 4.66% 3.80% 0.29% 0.24% 0.35% 0.33% 0.25% Umpqua Bank (ex FinPac) Fin Pac Umpqua Holding Consolidated Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 —% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00%

25 Loan Deferral Summary Loan Deferrals By Category and Trend Analysis Summary of Current Deferrals (as of 6/30/2021) Deferral Trends Deferral Commentary ($'s in 000s) ($'s in 000s) Category Current Deferrals1 Q2 2021 Total Balances1 Current Deferrals (%) Commercial Real Estate $59,715 $10,584,186 0.6% Non-owner CRE 59,715 3,580,386 1.7 Owner occupied CRE — 2,398,326 — Multifamily — 3,553,704 — Construction and Development — 857,866 — Residential Development — 193,904 — Commercial $1,382 $6,094,159 —% Term 24 3,748,269 — Commercial LOCs 903 908,518 0.1 Leases & equipment finance (e.g. FinPac) 455 1,437,372 — Residential $105,995 $5,692,762 1.9% Mortgage¹ ² 104,362 4,574,484 2.3 Home equity loans and lines 1,633 1,118,278 0.1 Consumer & other $219 201,684 0.1% Totals $167,311 $22,572,791 0.7% Current deferrals as of 6/30/2021 represent $167mm or 0.7% of portfolio Deferrals in the RRE category exclude repurchased delinquent GNMA loans, previously in the serviced portfolio, totaling $151mm as the credit risk of these loans are guaranteed by government programs such as the Federal Housing Agency, Veteran Affairs, and USDA Rural Development. Current cure rate is approximately 90% and we continue to see positive momentum in deferral activity (e.g., borrowers resuming payments) Footnotes: 1. Includes RRE LHFS 2. Excludes GNMA deferrals of $150.6 million Balances Accounts 03 /01 /20 03 /31 /20 04 /30 /20 05 /31 /20 06 /30 /20 07 /31 /20 08 /31 /20 09 /30 /20 10 /31 /20 11 /30 /20 12 /31 /20 01 /31 /21 02 /28 /21 03 /31 /21 4/3 0/2 02 1 5/3 1/2 02 1 6/3 0/2 02 1 $— $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 $2,000,000 — 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000

Appendix Non-GAAP Reconciliation

27 Non-GAAP Reconciliation Tangible Book Value (In thousands, except per share data) Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Total shareholders' equity $2,766,316 $2,681,869 $2,704,577 $2,610,244 $2,538,339 Subtract: Goodwill — 2,715 2,715 2,715 2,715 Other intangible assets, net 11,100 12,230 13,360 14,606 15,853 Tangible equity - common 2,755,216 2,666,924 2,688,502 2,592,923 2,519,771 Total assets $30,284,965 $30,036,680 $29,235,175 $29,437,441 $29,645,248 Subtract: Goodwill — 2,715 2,715 2,715 2,715 Other intangible assets, net 11,100 12,230 13,360 14,606 15,853 Tangible assets 30,273,865 30,021,735 29,219,100 29,420,120 29,626,680 Common shares outstanding at period end 220,626 220,491 220,226 220,222 220,219 Total shareholders' equity to total assets ratio 9.13 % 8.93 % 9.25 % 8.87 % 8.56 % Tangible common equity ratio 9.10 % 8.88 % 9.20 % 8.81 % 8.51 % Book value per common share $12.54 $12.16 $12.28 $11.85 $11.53 Tangible book value per common share $12.49 $12.10 $12.21 $11.77 $11.44

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