Umpqua Holdings Corporation 4th Quarter 2022 Earnings Presentation January 23, 2023

2 Disclaimer FORWARD-LOOKING STATEMENTS This communication contains certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the proposed transaction between Umpqua Holdings Corporation (“Umpqua”) and Columbia Banking System, Inc. (“Columbia”), the plans, objectives, expectations and intentions of Umpqua and Columbia, the expected timing of completion of the transaction, and other statements that are not historical facts. Such statements are subject to numerous assumptions, risks, and uncertainties. All statements other than statements of historical fact, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as “expect,” “anticipate,” “believe,” “intend,” “estimate,” “plan,” “target,” “goal,” or similar expressions, or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” “could,” or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. While there is no assurance that any list of risks and uncertainties or risk factors is complete, below are certain factors which could cause actual results to differ materially from those contained or implied in the forward looking statements: changes in general economic, political, or industry conditions; the magnitude and duration of the COVID-19 pandemic and its impact on the global economy and financial market conditions and Umpqua’s and Columbia’s respective businesses, results of operations, and financial condition; uncertainty in U.S. fiscal and monetary policy, including the interest rate policies of the Federal Reserve Board or the effects of any declines in housing and commercial real estate prices, high or increasing unemployment rates, or any slowdown in economic growth particularly in the western United States; volatility and disruptions in global capital and credit markets; movements in interest rates; reform of LIBOR; competitive pressures, including on product pricing and services; success, impact, and timing of Umpqua’s and Columbia’s respective business strategies, including market acceptance of any new products or services and Umpqua and Columbia’s ability to successfully implement efficiency and operational excellence initiatives; the nature, extent, timing, and results of governmental actions, examinations, reviews, reforms, regulations, and interpretations; changes in laws or regulations; the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement to which Umpqua and Columbia are parties; the outcome of any legal proceedings that may be instituted against Umpqua or Columbia; delays in completing the transaction; the failure to satisfy any of the conditions to the transaction on a timely basis or at all; changes in Umpqua’s or Columbia’s share price before closing, including as a result of the financial performance of the other party prior to closing, or more generally due to broader stock market movements, and the performance of financial companies and peer group companies; the possibility that the anticipated benefits of the transaction are not realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where Umpqua and Columbia do business; certain restrictions during the pendency of the proposed transaction that may impact the parties’ ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management’s attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the transaction; the ability to complete the transaction and integration of Umpqua and Columbia successfully; the dilution caused by Columbia’s issuance of additional shares of its capital stock in connection with the transaction; and other factors that may affect the future results of Umpqua and Columbia. Additional factors that could cause results to differ materially from those described above can be found in Umpqua’s Annual Report on Form 10-K for the year ended December 31, 2021 and its Quarterly Reports on Form 10-Q for the three-month periods ended March 31, 2022, June 30, 2022, and September 30, 2022, which are on file with the Securities and Exchange Commission (the “SEC”) and available on Umpqua’s investor relations website, www.umpquabank.com, under the heading “Financial information,” and in other documents Umpqua files with the SEC, and in Columbia’s Registration Statement on Form S-4, its Annual Report on Form 10-K for the year ended December 31, 2021 and its Quarterly Reports on Form 10-Q for the three-month periods ended March 31, 2022, June 30, 2022, and September 30, 2022, which are on file with the SEC and available on Columbia’s website, www.columbiabank.com, under the heading “Financial Information” and in other documents Columbia files with the SEC. All forward-looking statements speak only as of the date they are made and are based on information available at that time. Neither Umpqua nor Columbia assumes any obligation to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements were made or to reflect the occurrence of unanticipated events except as required by federal securities laws. As forward looking statements involve significant risks and uncertainties, caution should be exercised against placing undue reliance on such statements.

3 Disclaimer (cont.) NON-GAAP FINANCIAL MEASURES In addition to results in accordance with GAAP, this presentation contains certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in the Appendix. We believe presenting certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends, and our financial position. We utilize these measures for internal planning and forecasting purposes. We, as well as securities analysts, investors, and other interested parties, also use these measures to compare peer company operating performance. We believe that our presentation and discussion, together with the accompanying reconciliations, provides a complete understanding of factors and trends affecting our business and allows investors to view performance in a manner similar to management. These non-GAAP measures should not be considered a substitution for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.

Strategic Updates

5 Columbia and Umpqua Expect to Combine and Complete the Scheduled Core System Conversion in 1Q 2023 4Q 2021 Combination Announced Core Expense Run Rate Communicated Integration Complete Conversations Begin Due Diligence 1Q 2023 Scheduled Core System Conversion October 2021 – February 2023 Completed work includes organization design, systems selection, contract execution, procedure and policy alignment, culture work, and the planning and mapping activities necessary for technical conversions 1Q 2022 Received Shareholders’ Approvals March 1 Expected Legal Day 1 IMO Established to Run Integration Planning Process Investor Milestones(2) Internal Work(2) Branch Consolidations Begin Other Integration Activities Scheduled Core System Conversion Rebranding Begins 1Q 2023 Scheduled Merger Close 4Q 2022 Received Federal Reserve Approval 1Q 2023 Received FDIC Approval 1Q 2023 Scheduled Completion of Branch Divestitures 4Q 2022 Agreements to Divest 10 Columbia Branches ◦ Columbia and Umpqua expect the closing of our merger to take place after the close of business on February 28, 2023(1). ◦ Last spring, we bifurcated our integration planning activities to be separate from legal day 1 as a combined organization, which enabled us to complete necessary integration planning milestones that support our ability to meet our original scheduled core system conversion date in 1Q 2023. (1) Subject to the satisfaction of closing conditions under the merger agreement. (2) Chart highlights select tasks and does not encompass all activity. Some milestones occur over a period of time and not a point in time as represented by the chart. Timing is not to scale.

6 Current Priorities: Integration and Growth ◦ The top priorities at Columbia and Umpqua are to prepare for and execute the seamless integration of our two banks following the closing without disrupting our externally focused associates’ ability to serve our customers and our communities and to generate new business. ◦ The establishment of the Integration Management Office (IMO) enables our respective front lines to remain focused on what they do best: generating balanced growth in loans, deposits, and fee-based products and services. ◦ We established the IMO to lead our integration, track against key milestones, and ultimately ensure a seamless experience for our teams and clients. The IMO enables the separation of integration responsibilities from growth initiatives, and its leadership team includes senior executives from both banks. ◦ Continued integration planning supports our scheduled Q1 2023 core system conversion, the timing of which has not changed since the October 2021 announcement of our intended combination. ◦ We remain confident our $135 million original cost-savings target will be achievable. ◦ Recent progress includes: ◦ Received remaining outstanding regulatory approvals. ◦ Set an expected closing date of February 28, 2023, subject to the satisfaction of closing conditions under the merger agreement. ◦ Completed first mock conversion and readiness review activities associated with the scheduled core system conversion. ◦ Following the pandemic-driven slow-down in non-PPP loan generation, each of Columbia and Umpqua re-established growth momentum in 2H 2020. ◦ Non-PPP loan growth at each bank accelerated in 2021 and held strong over the past year, with each bank’s respective growth rate in the double-digit range in 2022 excluding PPP loan runoff. ◦ We expect product synergies and our larger pro forma balance sheet, alongside the proven success of relationship-driven operating models at Columbia and Umpqua, to support a favorable growth profile at our combined organization post-closing. ◦ Enhanced loan portfolio granularity and diversification supports the pro forma bank’s risk profile and presents additional opportunities to expand existing verticals (e.g., healthcare and leasing). ◦ Opens opportunities to continue to expand organically in other Western markets as the larger bank is expected to be attractive to sophisticated customers and the talent needed to serve them. Integration Update Growth Update

Financial Highlights & Summary Financial Statements Q4 2022 & FY 2022

8 Total gross loans and leases increased $648 million or 2.5% as the majority of loan categories and business lines contributed to the quarter's net expansion. Q4 2022 Highlights (Compared to Q3 2022) Deposit balances increased by $249 million or 0.9%. The rising interest rate environment and the impact of inflationary pressures on customer spending contributed to a decline in non-interest bearing demand balances during the quarter that was offset by higher time balances. Net interest income increased by $18 million, and the net interest margin increased by 13 basis points to 4.01%. The increases are due to the favorable net impact of rising interest rates and higher average earning asset balances. The provision for credit losses of $33 million compares to a provision of $28 million for the third quarter of 2022. Net charge-offs were 0.19% of average loans and leases (annualized) and centered in the FinPac portfolio, where activity has begun to approach normalized levels after several quarters below its historical average. Non-interest income increased by $5.4 million, as a smaller loss related to the impact of interest rates on fair value accounting and hedges was partially offset by lower residential mortgage gain-on-sale income. Non-interest expense increased by $17 million due primarily to higher merger-related expenses and a $4.9 million accrual for state and local business taxes that is not expected to repeat. Non-performing assets to total assets was 0.18%, compared to 0.16% at September 30, 2022. Estimated total risk-based capital ratio of 13.7% and estimated tier 1 risk-based capital ratio of 11.0%. Declared a quarterly cash dividend of $0.21 per common share on January 11, 2023, payable February 6, 2023, to holders of record as of January 23, 2023.

9 Performance Ratios Footnotes: (1) Tax exempt interest has been adjusted to a taxable equivalent basis using a 21% tax rate. (2) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided on slide 14 as Net Interest Margin excluding acquired loan accretion and PPP. (3) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. For the year ended For the quarter ended FY 2022 FY 2021 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Reported Net interest margin (1) 3.62 % 3.18 % 4.01 % 3.88 % 3.41 % 3.14 % 3.15 % Efficiency ratio 57.83 % 59.53 % 57.24 % 56.07 % 59.12 % 59.02 % 63.10 % Pre-provision net revenue (PPNR) return on average assets (3) 1.73 % 1.70 % 1.82 % 1.80 % 1.64 % 1.67 % 1.50 % Return on average assets 1.09 % 1.39 % 1.04 % 1.09 % 1.04 % 1.21 % 1.13 % Return on average common equity 13.07 % 15.56 % 13.50 % 12.99 % 12.20 % 13.62 % 12.90 % Return on average tangible common equity (3) 13.11 % 15.63 % 13.53 % 13.02 % 12.23 % 13.66 % 12.94 % Operating Adjusted net interest margin (1), (2) 3.58 % 3.05 % 4.00 % 3.85 % 3.38 % 3.06 % 3.04 % Operating efficiency ratio (3) 55.66 % 58.30 % 52.01 % 51.72 % 58.27 % 62.02 % 59.61 % Operating PPNR return on average assets (3) 1.83 % 1.73 % 2.10 % 2.12 % 1.66 % 1.43 % 1.58 % Operating return on average assets (3) 1.17 % 1.41 % 1.24 % 1.33 % 1.06 % 1.03 % 1.23 % Operating return on average common equity (3) 13.97 % 15.86 % 16.14 % 15.86 % 12.46 % 11.58 % 13.98 % Operating return on average tangible common equity (3) 14.00 % 15.93 % 16.18 % 15.90 % 12.49 % 11.62 % 14.03 %

10 Summary Income Statement Footnotes: Tables may not foot due to rounding. (1) Tax exempt interest has been adjusted to a taxable equivalent basis using a 21% tax rate. (2) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. (in millions) For the year ended For the quarter ended FY 2022 FY 2021 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Net interest income before provision $1,070.0 $919.6 $305.5 $287.6 $248.2 $228.8 $233.4 Provision (recapture) for credit losses 84.0 (42.7) 32.9 27.6 18.7 4.8 (0.7) Net interest income after provision 986.0 962.3 272.5 260.0 229.5 224.0 234.1 Non-interest income 199.5 356.3 34.9 29.4 55.2 80.0 82.7 Non-interest expense 735.0 760.5 195.0 178.0 179.6 182.4 199.7 Income before provision for income taxes 450.6 558.2 112.4 111.5 105.1 121.5 117.1 Provision for income taxes 113.8 137.9 29.5 27.5 26.5 30.3 28.8 Net income $336.8 $420.3 $83.0 $84.0 $78.6 $91.2 $88.4 Earnings per share, diluted $1.55 $1.91 $0.38 $0.39 $0.36 $0.42 $0.41 Pre-provision net revenue (1), (2) $534.6 $515.5 $145.4 $139.1 $123.8 $126.3 $116.4 Operating pre-provision net revenue (1), (2) $565.0 $522.4 $167.1 $163.8 $126.0 $108.1 $122.6 Operating net income (2) $359.7 $428.2 $99.2 $102.6 $80.3 $77.6 $95.8 Operating earnings per share, diluted (2) $1.65 $1.95 $0.46 $0.47 $0.37 $0.36 $0.44

11 Selected Period-End Balance Sheet Footnotes: Tables may not foot due to rounding. AOCI = Accumulated other comprehensive income. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. (in millions) Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Total assets $31,848.6 $31,472.0 $30,135.7 $30,637.1 $30,640.9 Interest bearing cash and temporary investments 967.3 1,232.4 687.2 2,358.3 2,539.6 Investment securities available for sale, fair value 3,196.2 3,136.4 3,416.7 3,638.1 3,870.4 Loans and leases, gross 26,156.0 25,508.0 24,432.7 22,975.8 22,553.2 Allowance for credit losses on loans and leases (301.1) (283.1) (261.1) (248.6) (248.4) Other intangible assets, net 4.7 5.8 6.8 7.8 8.8 Deposits 27,065.6 26,817.1 26,132.4 26,699.6 26,594.7 Securities sold under agreements to repurchase 308.8 383.6 528.0 499.5 492.2 Borrowings 906.2 756.2 6.3 6.3 6.3 Total shareholders' equity 2,479.8 2,417.5 2,518.3 2,607.6 2,749.3 Ratios and Per-Share Metrics: Loan to deposit ratio 96.6% 95.1% 93.5% 86.1% 84.8% Book value per common share $11.42 $11.14 $11.60 $12.02 $12.69 Tangible book value per common share (1) $11.40 $11.11 $11.57 $11.98 $12.65 Tangible book value per common share, excluding AOCI (1) $13.37 $13.18 $12.99 $12.83 $12.64 Tangible common equity to tangible assets (1) 7.8% 7.7% 8.3% 8.5% 8.9% Tangible common equity to tangible assets, excluding AOCI (1) 9.1% 9.1% 9.4% 9.1% 8.9%

Income Statement Highlights & Segment Financials Q4 2022

13 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Net Interest Income $233.4 $228.8 $248.2 $287.6 $305.5 Accretion Related to Acquired Loans (1.6) (1.4) (1.1) (0.8) (0.4) PPP Accrued Interest (1.4) (0.7) (0.4) (0.2) (0.1) PPP Processing Fees (9.6) (6.1) (2.4) (2.2) (0.5) Net Interest Income excluding acquired loan accretion and PPP $220.8 $220.6 $244.3 $284.4 $304.5 Net Interest Income Net Interest Income $233.4 $228.8 $248.2 $287.6 $305.5 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $200.0 $210.0 $220.0 $230.0 $240.0 $250.0 $260.0 $270.0 $280.0 $290.0 $300.0 $310.0 $320.0 Net Interest Income excluding acquired loan accretion and PPP $220.8 $220.6 $244.3 $284.4 $304.5 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $200.0 $210.0 $220.0 $230.0 $240.0 $250.0 $260.0 $270.0 $280.0 $290.0 $300.0 $310.0 (in m ill io ns ) (in m ill io ns )

14 NIM – MBS & CMO Premium Amortization & Recapture Details FY 2021 FY 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 MBS & CMO Premium in $ millions (Amortization)/Recapture ($9.7mm) ($1.1mm) ($2.3mm) $0.3mm ($1.3mm) $0.0mm ($0.1mm) Net NIM Impact in basis points (Dilutive)/Accretive (0.03) % 0.00 % (0.03) % 0.00 % (0.02) % 0.00 % 0.00 % Net Interest Margin Footnotes: 1. PPP net impact includes both accrued interest on PPP loans and PPP processing fees. 2. Chart Abbreviations: LHFI = loans held for investment; PPP = Paycheck Protection Program; PAA = purchase accounting adjustments. FY 2021 FY 2022 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Net Interest Margin 3.18 % 3.62 % 3.15 % 3.14 % 3.41 % 3.88 % 4.01 % Accretion Related to Acquired Loans (0.03) % (0.01) % (0.02) % (0.02) % (0.01) % (0.01) % (0.01) % Accretion Related to Net PPP Impact¹ (0.10) % (0.03) % (0.09) % (0.06) % (0.02) % (0.02) % 0.00 % Net Interest Margin excluding acquired loan accretion and PPP 3.05 % 3.58 % 3.04 % 3.06 % 3.38 % 3.85 % 4.00 % Net Interest Margin Comparison 3.15% 3.14% 3.41% 3.88% 4.01% 3.04% 3.06% 3.38% 3.85% 4.00% Net Interest Margin Net Interest Margin excluding acquired loan accretion and PPP Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 —% 1.00% 2.00% 3.00% 4.00% Net Interest Margin Q3 2022 vs Q4 2022 3.88% 0.47% 0.07% (0.30)% (0.12)% 0.01% 4.01% Q3 2022 Reported LHFI - Not PPP/PAA² Investments & IB Cash Deposits Debt & TRUPS Other Inputs Q4 2022 Reported

15 Loan Repricing Detail1, 2 (in millions) Q3 2022 Q4 2022 Q3 2022 Q4 2022 Fixed $ 8,702 $ 8,981 34 % 34 % Prime 1,809 1,801 7 % 7 % 1 Month 5,885 6,143 23 % 24 % Floating 7,694 7,944 30 % 31 % Prime 305 302 1 % 1 % 6 month 5,415 5,593 21 % 21 % 1 Year 1,256 1,226 5 % 5 % 3 Year 168 160 1 % 1 % 5 Year 1,299 1,265 5 % 5 % 10 Year 637 650 3 % 2 % Adjustable 9,080 9,196 36 % 35 % Total $ 25,476 $ 26,121 100 % 100 % Loan Maturities at December 31, 2022 <=6 7 to 12 13 to 24 25 to 36 37 to 60 61+ (in millions) Mos Mos Mos Mos Mos Mos Total Fixed $ 1,441 $ 113 $ 336 $ 542 $ 1,243 $ 5,306 $ 8,981 Floating 710 603 904 418 1,220 4,089 7,944 Adjustable 24 34 92 219 444 8,383 9,196 Total $ 2,175 $ 750 $ 1,332 $ 1,179 $ 2,907 $ 17,778 $ 26,121 Interest Rate Sensitivity: Loans Footnotes: 1. Index rates are mapped to the closest material index. 2. Deferred fees and costs drive variances between loan totals on this slide and loan totals in the earnings press release. 3. Loans were grouped into three buckets: (1) No Floor: no contractual floor on the loan; (2) At Floor: current rate = floor; (3) Above Floor: current rate exceeds floor. The amount above the floor was based on the current margin plus the current index assuming the loan repriced on December 31, 2022. The adjustable loans may not reprice until well into the future, depending on the timing and size of interest rate changes. 4. We no longer disclose the required upward interest rate changes necessary to move loans off their floors as this category has declined to only $83 million as of December 31, 2022, and the impact to net interest income when they reprice off their existing floors is relatively de minimis. Floors: Floating and Adjustable Rate Loans at December 31, 20223, 4 (in millions) No Floor At Floor Above Floor Total Floating $5,024 $1 $2,919 $7,944 Adjustable 1,211 82 7,903 9,196 Total $6,235 $83 $10,822 $17,140 % of Total 37% —% 63% 100%

16 Interest Rate Sensitivity: Balance Sheet December 31, 2022: Interest Rate Simulation Impact on Net Interest Income1, 2 Year 1 Year 2 Year 1 Year 2 Ramp Shock Up 200 basis points 1.1% 4.2% 2.7% 5.6% Up 100 basis points 0.6% 2.2% 1.4% 2.9% Down 100 basis points (2.4)% (6.0)% (4.9)% (6.9)% Down 200 basis points (5.1)% (12.9)% (10.6)% (14.8)% Down 300 basis points (7.8)% (19.7)% (16.3)% (22.6)% Deposit Repricing Betas During the Last Rising-Rate Cycle3 Effective Fed Funds Rate (Daily Avg.) Cost of Umpqua Deposits Avg Non-Int Bearing Deposits as % of Total Interest- Bearing Total Q3 2019 2.20% 1.19% 0.82% 31.0% Q2 2019 2.40% 1.16% 0.81% 30.3% Q3 2015 0.14% 0.24% 0.17% 29.5% Variance: Peak (Peak Value less Q3 2015) +2.26% +0.95% +0.65% Umpqua Beta (based on peak Umpqua deposit rate)3 42% 29% Footnotes: 1. For the scenarios shown, the interest rate simulations assume a parallel and sustained shift in market interest rates ratably over a twelve-month period (ramp) or immediately (shock). There is no change in the composition of the size of the balance sheet in either scenario. Interest rate sensitivity in the first year of the net interest income simulation for increasing interest rate ramp scenarios is negatively impacted by the cost of non-maturity deposits repricing immediately while interest earning assets reprice at a slower rate. 2. The simulation repricing beta applied to interest-bearing deposits in the rising rate scenarios is 53% for the December 31, 2022 simulation and 51% for the September 30, 2022 simulation. Betas applied are for future repricing assuming future rate changes, and the simulations assume an immediate repricing impact. 3. Deposit repricing betas are calculated between Q3 2015 and Q3 2019. We use Q3 2019 as our end point despite a 50-basis point reduction in the fed funds target rate (reflected by a 20-basis point reduction in the daily average of the effective funds rate) during the quarter as it represents our peak deposit costs during the last rising rate cycle and it captures the repricing lag effect. September 30, 2022: Interest Rate Simulation Impact on Net Interest Income1, 2 Year 1 Year 2 Year 1 Year 2 Ramp Shock Up 200 basis points 2.0% 6.8% 4.5% 8.6% Up 100 basis points 1.0% 3.5% 2.3% 4.3% Down 100 basis points (3.1)% (7.8)% (6.4)% (8.8)% Down 200 basis points (6.5)% (16.1)% (13.6)% (18.0)% Down 300 basis points (10.2)% (23.5)% (19.9)% (26.2)% Deposit Repricing Betas During the Current Rising-Rate Cycle Effective Fed Funds Rate (Daily Avg.) Cost of Umpqua Deposits Avg Non-Int Bearing Deposits as % of Total Interest- Bearing Total Q4 2022 3.65% 0.77% 0.46% 40.3% Q3 2022 2.20% 0.23% 0.14% 42.3% Q2 2022 0.76% 0.11% 0.06% 42.0% Q1 2022 0.12% 0.10% 0.06% 41.3% Q4 2021 0.08% 0.11% 0.06% 41.7% Variance: Peak (Peak Value less Q4 2021) +3.57% +0.66% +0.40% Umpqua Beta - Cycle-to-Date 18% 11%

17 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 year ended For the quarter ended FY 2022 FY 2021 Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Service charges on deposits $48.4 $42.1 $12.1 $12.6 $12.0 $11.6 $11.2 Card-based fees 37.4 36.1 9.0 9.1 10.5 8.7 9.4 Brokerage revenue 0.1 5.1 0.0 0.0 0.0 0.0 0.0 Residential mortgage banking revenue, net 106.9 186.8 (1.8) 17.3 30.5 60.8 43.2 (Loss) gain on equity securities, net (7.1) (1.5) 0.3 (2.6) (2.1) (2.7) (0.5) Gain on loan and lease sales, net 6.7 15.7 1.5 1.5 1.3 2.3 4.8 BOLI income 8.3 8.3 2.0 2.0 2.1 2.1 2.1 Other Income Commercial product revenue¹ $21.0 $23.6 $5.3 $6.4 $4.1 $5.3 $9.0 Commercial servicing revenue 3.1 2.9 0.9 0.7 0.7 0.8 0.7 Loan-related fees 12.5 11.7 3.2 3.2 3.1 3.1 3.1 Change in fair value of certain loans held for investment (58.5) 3.0 4.2 (26.4) (15.2) (21.0) (2.7) Misc. Income 4.6 14.1 0.4 1.3 0.8 1.9 2.7 Swap Derivative Gain/(Loss) 16.3 8.4 (2.3) 4.2 7.3 7.0 (0.3)

18 $199.7 $182.4 $179.6 $178.0 $195.0 63.1% 59.0% 59.1% 56.1% 57.2% Non-interest expense Efficiency ratio Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $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) $178.0 $(3.2) $5.4 $0.6 $10.9 $3.3 $195.0 Q 3 20 22 N on -In te re st E xp en se Ho m e Le nd in g Di re ct E xp en se St at e & Lo ca l B us in es s Ta xe s Ex it & Di sp os al C os ts M er ge r-r el at ed E xp en se s O th er Q 4 20 22 N on -In te re st E xp en se

19 Segments - Core Banking Footnotes: 1. Represents the internal charge of centrally provided support services and other corporate overhead to the mortgage banking segment, partially offset by allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Net interest income $ 305,030 $ 286,532 $ 247,009 $ 227,087 $ 231,250 Provision (recapture) for credit losses 32,948 27,572 18,692 4,804 (736) Non-interest income Gain on sale of debt securities, net — — — 2 4 Gain (loss) on equity securities, net 284 (2,647) (2,075) (2,661) (466) (Loss) gain on swap derivatives, net (2,329) 4,194 7,337 7,047 (303) Change in fair value of certain loans held for investment 4,192 (26,397) (15,210) (21,049) (2,672) Non-interest income (excluding above items) 34,362 36,769 34,461 35,650 42,812 Total non-interest income 36,509 11,919 24,513 18,989 39,375 Non-interest expense Merger related expenses 11,637 769 2,672 2,278 15,183 Exit and disposal costs 1,966 1,364 442 3,033 3,022 Non-interest expense (excluding above items) 167,267 154,320 148,946 148,423 150,587 Allocated expenses, net1 (1,905) (39) 3,702 3,735 4,314 Total non-interest expense 178,965 156,414 155,762 157,469 173,106 Income before income taxes 129,626 114,465 97,068 83,803 98,255 Provision for income taxes 33,763 28,212 24,530 20,917 24,067 Net income $ 95,863 $ 86,253 $ 72,538 $ 62,886 $ 74,188 Effective Tax Rate 26 % 25 % 25 % 25 % 24 % Efficiency Ratio 52 % 52 % 57 % 64 % 64 % Total assets $ 31,577,603 $ 31,100,700 $ 29,721,590 $ 30,153,079 $ 30,155,058 Total loans and leases $ 26,155,981 $ 25,507,951 $ 24,432,678 $ 22,975,761 $ 22,553,180 Total deposits $ 26,937,431 $ 26,588,217 $ 25,925,294 $ 26,479,078 $ 26,370,568 Key Rates, end of period: 10 year CMT 3.88 % 3.83 % 2.98 % 2.32 % 1.52 % FHLMC 30 year fixed 6.42 % 6.70 % 5.70 % 4.67 % 3.11 %

20 Segments - Mortgage Banking Footnotes: 1. Represents the internal charge of centrally provided support services and other corporate overhead to the Mortgage Banking segment, partially offset by allocations from the Mortgage Banking segment to Core Banking for new portfolio loan originations and portfolio servicing costs. (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Net interest income $ 449 $ 1,072 $ 1,161 $ 1,676 $ 2,129 Provision for credit losses — — — — — Non-interest income Residential mortgage banking revenue: Origination and sale 4,252 10,515 15,101 16,844 23,624 Servicing 9,184 9,529 9,505 9,140 9,457 Change in fair value of MSR asset: Changes due to collection/realization of expected cash flows over time (4,986) (4,978) (4,961) (5,347) (5,311) Changes due to valuation inputs or assumptions (9,914) 16,403 10,899 40,149 15,415 MSR hedge loss (348) (14,128) — — — Non-interest income (excluding above items) 182 185 178 194 178 Total non-interest income (1,630) 17,526 30,722 60,980 43,363 Non-interest expense Non-interest expense 14,112 21,511 27,514 28,696 30,919 Allocated expenses, net1 1,905 39 (3,702) (3,735) (4,314) Total non-interest expense 16,017 21,550 23,812 24,961 26,605 Income before income taxes (17,198) (2,952) 8,071 37,695 18,887 Provision for income taxes (4,299) (739) 2,018 9,424 4,721 Net income $ (12,899) $ (2,213) $ 6,053 $ 28,271 $ 14,166 Effective Tax Rate 25 % 25 % 25 % 25 % 25 % Efficiency Ratio nm 116 % 75 % 40 % 58 % Total assets $ 271,036 $ 371,260 $ 414,104 $ 484,047 $ 485,878 Loans held for sale $ 71,647 $ 148,275 $ 228,889 $ 309,946 $ 353,105 Total deposits $ 128,181 $ 228,890 $ 207,129 $ 220,509 $ 224,117 (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Key Rates, end of period: 10 year CMT 3.88 % 3.83 % 2.98 % 2.32 % 1.52 % FHLMC 30 year fixed 6.42 % 6.70 % 5.70 % 4.67 % 3.11 % LHFS Production Statistics: Closed loan volume for-sale $ 216,833 $ 396,979 $ 576,532 $ 649,122 $ 871,268 Gain on sale margin 1.96% 2.65% 2.62% 2.59% 2.71% Direct LHFS expense $ 7,292 $ 10,465 $ 13,197 $ 14,296 $ 18,150 Direct LHFS expenses as % of volume 3.36 % 2.64 % 2.29 % 2.20 % 2.08 % MSR Statistics: Residential mortgage loans serviced for others $ 13,020,189 $ 12,997,911 $ 12,932,747 $ 12,810,574 $ 12,755,671 MSR, net $ 185,017 $ 196,177 $ 179,558 $ 165,807 $ 123,615 MSR as % of serviced portfolio 1.42% 1.51% 1.39% 1.29% 0.97%

Balance Sheet Highlights Q4 2022

22 Q4 2022 Loan Roll Forward $25,508 $1,187 $81 ($453) ($154) ($14) $1 $26,156 Beginning Balance (9/30/2022) New Originations Net Advances/ Payments Payoffs Maturities PPP Other Ending Balance (12/31/2022) $10,000 $12,500 $15,000 $17,500 $20,000 $22,500 $25,000 $27,500 $ in millions

23 Loan and Lease Characteristics: Overall Portfolio and Q4 2022 Production Footnotes: Portfolio statistics and delinquencies as of December 31, 2022. Annualized net charge-off rate for Q4 2022. LTV (loan-to-value), FICO, and DSC (debt service coverage) are based on weighted average for portfolio. LTV represents average LTV based on most recent appraisal against updated loan balance. Totals may not foot due to rounding. Mortgage • Portfolio average loan size of $452,000 • 4Q22 average loan size of $413,000 • Portfolio average FICO of 761 and LTV of 63% • 4Q22 average FICO of 769 and LTV of 67% • Total delinquencies of 0.52% • Annualized net charge-off rate of 0.00% Non-owner Occupied CRE • Portfolio average loan size of $2.1 million • 4Q22 average loan size of $2.2 million • Portfolio average LTV of 54% and DSC of 1.85 • 4Q22 average LTV of 52% and DSC of 1.77 • Total delinquencies of 0.11% • Annualized net charge-off rate of 0.01% Commercial & Industrial • Portfolio average loan size of $772,000 • 4Q22 average loan size of $1.1 million • Total delinquencies of 0.23% • Annualized net charge-off rate of 0.01% Multifamily • Portfolio average loan size of $2.4 million • 4Q22 average loan size of $3.2 million • Portfolio average LTV of 56% and DSC of 1.48 • 4Q22 average LTV of 52% and DSC of 1.32 • Total delinquencies of 0.00% • Annualized net charge-off rate of 0.00% Owner Occupied CRE • Portfolio average loan size of $1.1 million • 4Q22 average loan size of $2.0 million • Portfolio average LTV of 57% • 4Q22 average LTV of 68% • Total delinquencies of 0.09% • Annualized net charge-off rate of (0.02%) Lease & Equipment Finance (FinPac) • Portfolio average loan & lease size of $40,000 • 4Q22 average loan & lease size of $61,000 • Portfolio average yield: ~10% • Total delinquencies of 4.19% • Annualized net charge-off rate of 2.84% Puget Sound, 15% WA Other, 6% Portland MSA, 13% OR Other, 11% Bay Area, 9% Northern CA, 10% Southern CA, 21% Other, 15% Mortgage, 21% FinPac, 6% C&I, 16% Owner Occupied CRE, 10% Non-OO CRE, 15% Multifamily, 20% Other Loan Categories, 12% Portfolio Composition at December 31, 2022 Geographic Distribution at December 31, 2022

24 CRE and C&I Portfolio Composition Agriculture, 4.4% Contractors, 8.0% Finance/Insurance, 6.5% Manufacturing, 8.5% Professional, 5.9% Public Admin, 7.9% Rental & Leasing, 5.5% Retail, 3.1% Support Services, 4.9% Transportation/ Warehousing, 14.9% Wholesale, 9.0% Gaming, 6.9% Healthcare, 3.3% Other, 11.2% Office, 14.7% Multifamily, 45.0% Industrial, 12.8% Retail, 10.5% Special Purpose, 4.7% Hotel/Motel, 3.0% Other, 9.3% CRE Portfolio Composition $11.7 Billion at December 31, 2022 C&I Portfolio Composition $5.7 Billion at December 31, 2022 Footnotes: CRE portfolio composition includes non-owner occupied term and owner occupied term balances as well as multifamily balances. C&I portfolio composition includes term, lines of credit & other, and leases & equipment finance balances.

25 Current Expected Credit Loss (“CECL”) Footnotes: 1. Total includes $11.9 mm for Reserve for Unfunded Commitments 2. Total includes $14.2 mm for Reserve for Unfunded Commitments Loan Segment 9/30/2022 Q4 2022 Net Charge-offs Reserve build 12/31/2022 % of loans and leases outstanding Commercial $51,665 ($56) $5,013 $56,622 1.42 % Lease & Equipment Finance $102,746 ($11,957) $22,773 $113,562 6.66 % CRE $90,900 $35 ($5,915) $85,020 0.65 % Residential/Home Equity $44,177 ($29) $9,377 $53,525 0.74 % Consumer $5,430 ($503) $1,700 $6,627 4.29 % Total $294,918 ¹ ($12,510) $32,948 $315,356 ² 1.21 % % of loans and leases outstanding 1.16 % 1.21 % Allowance For Credit Losses ($ in 000’s) CECL Notes Used Moody’s November Consensus economic forecast Key Components of the Moody’s economic forecast include: • U.S. real GDP average annualized growth of 0.4% in 2023, 1.4% in 2024, 2.0% in 2025, and 2.0% in 2026 • U.S. unemployment rate average of 4.3% in 2023, 4.5% in 2024, 4.2% in 2025, and 3.9% in 2026 • The average federal funds rate is expected to be 4.9% in 2023, 4.0% in 2024, 2.9% in 2025, and 2.5% in 2026

26 Credit Quality Pr ov is io n or (R ec ap tu re ) Ex pe ns e ($ in m ill io ns ) N on perform ing assets to total assets Provision or (Recapture) Expense & Non-Performing Assets to Total Assets $(0.7) $4.8 $18.7 $27.6 $32.9 0.17% 0.14% 0.15% 0.16% 0.18% Provision or (recapture) expense Non Performing Assets To Total Assets Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $(40.0) $(20.0) $— $20.0 $40.0 $60.0 $80.0 $100.0 $120.0 $140.0 —% 0.05% 0.10% 0.15% 0.20% 0.25% 0.30% 0.35% C la ss ifi ed L oa ns / To ta l Lo an s C lassified A ssets / R B C Classified Assets 0.71% 0.87% 0.75% 0.74% 0.73% 7.0% 8.8% 7.8% 7.9% 7.8% Classified Loans to Total Loans Classified Assets to Risk-Based Capital Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 —% 0.20% 0.40% 0.60% 0.80% 1.00% 1.20% 1.40% 1.60% 6.0% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 14.0% 15.0% A C L ($ in m ill io ns ) A llow ance / Total Loans and Leases Allowance for Credit Losses $261.2 $261.5 $273.9 $294.9 $315.4 1.16% 1.14% 1.12% 1.16% 1.21% Allowance for credit losses Allowance for credit losses to total loans and leases Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 $— $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) 1.75% 1.49% 1.47% 1.36% 2.84% 0.13% 0.10% 0.11% 0.11% 0.19% Umpqua Bank (ex FinPac) Fin Pac Umpqua Holding Consolidated Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 (0.50)% —% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 0.02% 0.00% 0.01% 0.02% 0.01%

27 Capital Management Footnotes: 1. Regulatory capital amounts and 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. Excess capital at the bank level is approximately $234mm¹. Holding company ratios are shown to the right. Declared a quarterly cash dividend of $0.21 per common share on January 11, 2023, payable February 6, 2023, to holders of record as of January 23, 2023. 7.8% 9.2% 11.0% 11.0% 13.7% 5.0% 7.0% 8.5% 10.5% 6.0% 1.5% 2.0% 0.5% 1.5% 1.8% 2.7% 2.0% 2.0% 1.7% 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% Focused on providing long term value for our shareholders

Appendix Non-GAAP Reconciliation

29 Non-GAAP Reconciliation: Tangible Capital (In thousands, except per share data) Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Total shareholders' equity a $2,479,826 $2,417,514 $2,518,276 $2,607,598 $2,749,270 Less: Other intangible assets, net 4,745 5,764 6,789 7,815 8,840 Tangible common shareholders’ equity b 2,475,081 2,411,750 2,511,487 2,599,783 2,740,430 Less: Accumulated other comprehensive income (AOCI) (426,864) (449,560) (308,147) (183,756) 1,759 Tangible common shareholders’ equity, ex AOCI c $2,901,945 $2,861,310 $2,819,634 $2,783,539 $2,738,671 Total assets d $31,848,639 $31,471,960 $30,135,694 $30,637,126 $30,640,936 Less: Other intangible assets, net 4,745 5,764 6,789 7,815 8,840 Tangible assets e $31,843,894 $31,466,196 $30,128,905 $30,629,311 $30,632,096 Common shares outstanding at period end f 217,054 217,053 217,049 216,967 216,626 Total shareholders' equity to total assets ratio a / d 7.79 % 7.68 % 8.36 % 8.51 % 8.97 % Tangible common equity ratio b / e 7.77 % 7.66 % 8.34 % 8.49 % 8.95 % Tangible common equity ratio, ex AOCI c / e 9.11 % 9.09 % 9.36 % 9.09 % 8.94 % Book value per common share a / f $11.42 $11.14 $11.60 $12.02 $12.69 Tangible book value per common share b / f $11.40 $11.11 $11.57 $11.98 $12.65 Tangible book value per common share, ex AOCI c / f $13.37 $13.18 $12.99 $12.83 $12.64

30 Non-GAAP Reconciliation: Umpqua - Consolidated Footnotes: (1) Tax exempt interest has been adjusted to a taxable equivalent basis using a 21% tax rate. (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Net interest income (1) c $ 305,762 $ 287,933 $ 248,522 $ 229,117 $ 233,754 Non-interest income (GAAP) d $ 34,879 $ 29,445 $ 55,235 $ 79,969 $ 82,738 Less: non-interest income adjustments a 8,115 22,575 (951) (23,488) (11,978) Operating non-interest income (non-GAAP) e $ 42,994 $ 52,020 $ 54,284 $ 56,481 $ 70,760 Revenue (GAAP) f $ 340,641 $ 317,378 $ 303,757 $ 309,086 $ 316,492 Operating revenue (non-GAAP) g $ 348,756 $ 339,953 $ 302,806 $ 285,598 $ 304,514 Non-interest expense (GAAP) h $ 194,982 $ 177,964 $ 179,574 $ 182,430 $ 199,711 Less: non-interest expense adjustments b (13,603) (2,133) (3,114) (5,311) (18,205) Operating non-interest expense (non-GAAP) i $ 181,379 $ 175,831 $ 176,460 $ 177,119 $ 181,506 Net income (GAAP) j $ 82,964 $ 84,040 $ 78,591 $ 91,157 $ 88,354 Provision for income taxes 29,464 27,473 26,548 30,341 28,788 Income before provision for income taxes 112,428 111,513 105,139 121,498 117,142 Provision (recapture) for credit losses 32,948 27,572 18,692 4,804 (736) Pre-provision net revenue (PPNR) (non-GAAP) k 145,376 139,085 123,831 126,302 116,406 Less: Non-interest income adjustments a 8,115 22,575 (951) (23,488) (11,978) Add: Non-interest expense adjustments b 13,603 2,133 3,114 5,311 18,205 Operating PPNR (non-GAAP) l $ 167,094 $ 163,793 $ 125,994 $ 108,125 $ 122,633 Net income (GAAP) j $ 82,964 $ 84,040 $ 78,591 $ 91,157 $ 88,354 Less: Non-interest income adjustments a 8,115 22,575 (951) (23,488) (11,978) Add: Non-interest expense adjustments b 13,603 2,133 3,114 5,311 18,205 Tax effect of adjustments (5,459) (6,116) (480) 4,576 1,190 Operating net income (non-GAAP) m $ 99,223 $ 102,632 $ 80,274 $ 77,556 $ 95,771 (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Non-Interest Income Adjustments Gain on sale of debt securities, net $ — $ — $ — $ 2 $ 4 Gain (loss) on equity securities, net 284 (2,647) (2,075) (2,661) (466) (Loss) gain on swap derivatives (2,329) 4,194 7,337 7,047 (303) Change in fair value of certain loans held for investment 4,192 (26,397) (15,210) (21,049) (2,672) Change in fair value of MSR due to valuation inputs or assumptions (9,914) 16,403 10,899 40,149 15,415 MSR hedge loss (348) (14,128) — — — Total non-interest income adjustments a $ (8,115) $ (22,575) $ 951 $ 23,488 $ 11,978 Non-Interest Expense Adjustments Merger related expenses $ 11,637 $ 769 $ 2,672 $ 2,278 $ 15,183 Exit and disposal costs 1,966 1,364 442 3,033 3,022 Total non-interest expense adjustments b $ 13,603 $ 2,133 $ 3,114 $ 5,311 $ 18,205

31 Non-GAAP Reconciliation: Umpqua - Consolidated (cont.) (In Thousands, except per share data) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Select Per-Share & Performance Metrics Earnings-per-share - basic j/r $ 0.38 $ 0.39 $ 0.36 $ 0.42 $ 0.41 Earnings-per-share - diluted j/s $ 0.38 $ 0.39 $ 0.36 $ 0.42 $ 0.41 Efficiency ratio h/f 57.24 % 56.07 % 59.12 % 59.02 % 63.10 % PPNR return on average assets k/n 1.82 % 1.80 % 1.64 % 1.67 % 1.50 % Return on average assets j/n 1.04 % 1.09 % 1.04 % 1.21 % 1.13 % Return on average tangible assets j/o 1.04 % 1.09 % 1.04 % 1.21 % 1.14 % Return on average common equity j/p 13.50 % 12.99 % 12.20 % 13.62 % 12.90 % Return on average tangible common equity j/q 13.53 % 13.02 % 12.23 % 13.66 % 12.94 % Operating Per-Share & Performance Metrics Operating earnings-per-share - basic m/r $ 0.46 $ 0.47 $ 0.37 $ 0.36 $ 0.44 Operating earnings-per-share - diluted m/s $ 0.46 $ 0.47 $ 0.37 $ 0.36 $ 0.44 Operating efficiency ratio i/g 52.01 % 51.72 % 58.27 % 62.02 % 59.61 % Operating PPNR return on average assets l/n 2.10 % 2.12 % 1.66 % 1.43 % 1.58 % Operating return on average assets m/n 1.24 % 1.33 % 1.06 % 1.03 % 1.23 % Operating return on average tangible assets m/o 1.24 % 1.33 % 1.06 % 1.03 % 1.23 % Operating return on average common equity m/p 16.14 % 15.86 % 12.46 % 11.58 % 13.98 % Operating return on average tangible common equity m/q 16.18 % 15.90 % 12.49 % 11.62 % 14.03 % (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Average Assets n $ 31,637,490 $ 30,668,177 $ 30,356,903 $ 30,597,413 $ 30,886,378 Less: Average goodwill and other intangible assets, net 5,298 6,343 7,379 8,407 9,491 Average tangible assets o $ 31,632,192 $ 30,661,834 $ 30,349,524 $ 30,589,006 $ 30,876,887 Average common shareholders’ equity p $ 2,438,639 $ 2,567,266 $ 2,584,836 $ 2,715,059 $ 2,717,753 Less: Average goodwill and other intangible assets, net 5,298 6,343 7,379 8,407 9,491 Average tangible common equity q $ 2,433,341 $ 2,560,923 $ 2,577,457 $ 2,706,652 $ 2,708,262 Weighted average basic shares outstanding r 217,054 217,051 217,030 216,782 216,624 Weighted average diluted shares outstanding s 217,566 217,386 217,279 217,392 217,356

32 Non-GAAP Reconciliation: Core Banking Segment Footnotes: (1) Tax exempt interest has been adjusted to a taxable equivalent basis using a 21% tax rate. (2) Includes adjustments related to allocated expenses between the Core Banking and Mortgage Banking segments. (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Net interest income (1) c $ 305,313 $ 286,861 $ 247,361 $ 227,441 $ 231,625 Non-interest income (GAAP) d $ 36,509 $ 11,919 $ 24,513 $ 18,989 $ 39,375 Less: non-interest income adjustments a (2,147) 24,850 9,948 16,661 3,437 Operating non-interest income (non-GAAP) e $ 34,362 $ 36,769 $ 34,461 $ 35,650 $ 42,812 Revenue (GAAP) f $ 341,822 $ 298,780 $ 271,874 $ 246,430 $ 271,000 Operating revenue (non-GAAP) g $ 339,675 $ 323,630 $ 281,822 $ 263,091 $ 274,437 Non-interest expense (GAAP) (2) h $ 178,965 $ 156,414 $ 155,762 $ 157,469 $ 173,106 Less: non-interest expense adjustments b (13,603) (2,133) (3,114) (5,311) (18,205) Operating non-interest expense (non-GAAP) i $ 165,362 $ 154,281 $ 152,648 $ 152,158 $ 154,901 Net income (GAAP) j $ 95,863 $ 86,253 $ 72,538 $ 62,886 $ 74,188 Provision for income taxes 33,763 28,212 24,530 20,917 24,067 Income before provision for income taxes 129,626 114,465 97,068 83,803 98,255 Provision (recapture) for credit losses 32,948 27,572 18,692 4,804 (736) Pre-provision net revenue (PPNR) (non-GAAP) k 162,574 142,037 115,760 88,607 97,519 Less: Non-interest income adjustments a (2,147) 24,850 9,948 16,661 3,437 Add: Non-interest expense adjustments b 13,603 2,133 3,114 5,311 18,205 Operating PPNR (non-GAAP) l $ 174,030 $ 169,020 $ 128,822 $ 110,579 $ 119,161 Net income (GAAP) j $ 95,863 $ 86,253 $ 72,538 $ 62,886 $ 74,188 Less: Non-interest income adjustments a (2,147) 24,850 9,948 16,661 3,437 Add: Non-interest expense adjustments b 13,603 2,133 3,114 5,311 18,205 Tax effect of adjustments (2,893) (6,685) (3,205) (5,461) (2,664) Operating net income (non-GAAP) m $ 104,426 $ 106,551 $ 82,395 $ 79,397 $ 93,166 (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Non-Interest Income Adjustments Gain on sale of debt securities, net $ — $ — $ — $ 2 $ 4 Gain (loss) on equity securities, net 284 (2,647) (2,075) (2,661) (466) (Loss) gain on swap derivatives (2,329) 4,194 7,337 7,047 (303) Change in fair value of certain loans held for investment 4,192 (26,397) (15,210) (21,049) (2,672) Total non-interest income adjustments a $ 2,147 $ (24,850) $ (9,948) $ (16,661) $ (3,437) Non-interest Expense Adjustments Merger related expenses $ 11,637 $ 769 $ 2,672 $ 2,278 $ 15,183 Exit and disposal costs 1,966 1,364 442 3,033 3,022 Total non-interest expense adjustments b $ 13,603 $ 2,133 $ 3,114 $ 5,311 $ 18,205 Efficiency ratio h/f 52.36 % 52.35 % 57.29 % 63.90 % 63.88 % Operating efficiency ratio i/g 48.68 % 47.67 % 54.16 % 57.83 % 56.44 % Core Banking net income / Consolidated net income 115.55 % 102.63 % 92.30 % 68.99 % 83.97 % Core Banking operating net income / Consolidated operating net income 105.24 % 103.82 % 102.64 % 102.37 % 97.28 %

33 Non-GAAP Reconciliation: Mortgage Banking Segment Footnotes: (1) Includes adjustments related to allocated expenses between the Core Banking and Mortgage Banking segments. (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Net interest income c $ 449 $ 1,072 $ 1,161 $ 1,676 $ 2,129 Non-interest income (GAAP) d $ (1,630) $ 17,526 $ 30,722 $ 60,980 $ 43,363 Less: non-interest income adjustments a 10,262 (2,275) (10,899) (40,149) (15,415) Operating non-interest income (non-GAAP) e $ 8,632 $ 15,251 $ 19,823 $20,831 $27,948 Revenue (GAAP) f $ (1,181) $ 18,598 $ 31,883 $ 62,656 $ 45,492 Operating revenue (non-GAAP) g $ 9,081 $ 16,323 $ 20,984 $ 22,507 $ 30,077 Non-interest expense (GAAP) (1) h $ 16,017 $ 21,550 $ 23,812 $ 24,961 $ 26,605 Less: non-interest expense adjustments b — — — — — Operating non-interest expense (non-GAAP) i $ 16,017 $ 21,550 $ 23,812 $ 24,961 $ 26,605 Net income (GAAP) j $ (12,899) $ (2,213) $ 6,053 $ 28,271 $ 14,166 Provision for income taxes (4,299) (739) 2,018 9,424 4,721 Income before provision for income taxes (17,198) (2,952) 8,071 37,695 18,887 Provision for credit losses — — — — — Pre-provision net revenue (PPNR) (non-GAAP) k (17,198) (2,952) 8,071 37,695 18,887 Less: Non-interest income adjustments a 10,262 (2,275) (10,899) (40,149) (15,415) Add: Non-interest expense adjustments b — — — — — Operating PPNR (non-GAAP) l $ (6,936) $ (5,227) $ (2,828) $ (2,454) $ 3,472 Net income (GAAP) j $ (12,899) $ (2,213) $ 6,053 $ 28,271 $ 14,166 Less: Non-interest income adjustments a 10,262 (2,275) (10,899) (40,149) (15,415) Add: Non-interest expense adjustments b — — — — — Tax effect of adjustments (2,566) 569 2,725 10,037 3,854 Operating net income (non-GAAP) m $ (5,203) $ (3,919) $ (2,121) $ (1,841) $ 2,605 (In Thousands) For the Quarter Ended Q4 2022 Q3 2022 Q2 2022 Q1 2022 Q4 2021 Non-Interest Income Adjustments Change in fair value of MSR due to valuation inputs or assumptions $ (9,914) $ 16,403 $ 10,899 $ 40,149 $ 15,415 MSR hedge loss (348) (14,128) — — — Total non-interest income adjustments a $ (10,262) $ 2,275 $ 10,899 $ 40,149 $ 15,415 Total non-interest expense adjustments b $ — $ — $ — $ — $ — Efficiency ratio h/f nm 115.87 % 74.69 % 39.84 % 58.48 % Operating efficiency ratio i/g 176.38 % 132.02 % 113.48 % 110.90 % 88.46 % Mortgage Banking net income / Consolidated net income (15.55) % (2.63) % 7.70 % 31.01 % 16.03 % Mortgage Banking operating net income / Consolidated operating net income (5.24) % (3.82) % (2.64) % (2.37) % 2.72 %