Investor Presentation May 2020

Forward Looking Statements Keefe, Bruyette & Woods, Inc. (“KBW”) has been retained by BancPlus Corporation (together with its affiliates and subsidiaries, “BancPlus” or the “Seller”) to serve as the placement agent in connection with a potential sale of subordinated notes by BancPlus (the “Potential Transaction”). This Investor Presentation (“IP”) is for the exclusive use of its recipient (“Recipient”) and such Recipient’s directors, officers, employees, advisors (including, without limitation, attorneys, accountants, investment bankers and consultants), agents, affiliates or controlling persons of an entity (collectively “Representatives”). By viewing this IP, Recipient and its Representatives agree that this IP is confidential information and agree to use this information only to assist them in evaluating the Potential Transaction and for no other purpose. While the Seller, KBW and their respective Representatives believe that the financial and other information contained herein is accurate, the Seller, KBW and their respective Representatives make no representation or warranty, express or implied, as to the fairness, accuracy or completeness of this IP in any respect and expressly disclaim any and all liability for any information contained in, or omitted from, this IP or any other written or oral communication transmitted or made available to prospective purchasers. The Seller, KBW and their respective Representatives (a) shall not have any responsibility for the use of this IP by the Recipient or its Representatives or investors and (b) to the extent permitted by law, shall not be liable for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any statement in, or omission from, this IP or for any of the written, electronic or oral communications transmitted to a Recipient in the course of the Recipient's own investigation and evaluation of the Potential Transaction. Certain information contained in this presentation has been obtained from published and non-published sources prepared by other parties, which in certain cases have not been updated through the date hereof. While such information is believed to be reliable for the purpose used in this presentation, neither BancPlus nor any of its Representatives makes any representation or warranty, express or implied, as to the accuracy or completeness of the information, in whole or in part, contained in this presentation nor accepts any responsibility whatsoever or liability for any direct, indirect or consequential loss or damage suffered or incurred by the recipient or any other person or entity however caused (including but not limited to negligence) in connection with the information contained herein or the authenticity, accuracy, or completeness of such information, and such information has not been independently verified by BancPlus. Only those particular representations and warranties, if any, that may be made to the purchaser in a definitive written Note Purchase Agreement (“NPA”) when, as, and if it is executed, and subject to such limitations and restrictions as may be specified in any such NPA or similar agreement, shall have any legal effect. The notes have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), the securities laws of any other state or the securities laws of any other jurisdiction, nor is such registration contemplated. The notes will be offered and sold in the United States under the exemption provided by Section 4(a)(2) of the Securities Act and Regulation D promulgated thereunder and other exemptions of similar import in the laws of the states and jurisdictions where the offering will be made. The interests may be offered outside of the United States in reliance upon the exemption from registration provided by Regulation D or Regulation S promulgated under the Securities Act and other exemption of similar import in the laws of the countries and jurisdictions where the offering will be made. This IP includes various “forward-looking statements” within the meaning of the federal securities laws about BancPlus, State Capital Corp. (“SCC”) and the combined company that are subject to risks and uncertainties. These statements are often, but not always, preceded by, followed by or that otherwise include the words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “continue,” “seek,” “plan,” “can,” “should,” “could,” “would,” “will,” “to be,” “predict,” “potential,” “may,” “likely,” “will likely result,” “target,” “project” and “outlook” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These forward-looking statements are not historical facts, and are based on current expectations, estimates and projections about our industry, based on certain assumptions and beliefs of the management of BancPlus and SCC, many of which, by their nature, are inherently uncertain and beyond the companies’ control. Accordingly, you are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions and uncertainties that are difficult to predict. Although BancPlus and SCC believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. The IP contains only summary information and does not purport to be comprehensive or to contain all the information that may be necessary or desirable to evaluate the Potential Transaction, nor is it intended to form a basis of any investment decision. Recipient should conduct, and is responsible for, its own investigations and analysis of BancPlus and should check the accuracy, reliability and completeness of the information and obtain independent advice from appropriate sources. In furnishing the IP, none of the Seller, KBW or their respective Representatives has any obligation to provide Recipient with access to any additional information or to correct any inaccuracies which may become apparent or to revise any estimates and projections to reflect any changes in expectations with regard to the IP or any change in circumstances after the date of the IP. Without prejudice to the foregoing, if the Seller, KBW or any of their respective Representatives provide any further information (whether or not in writing), whether by way of update or otherwise, to Recipient after the date of the IP, the terms and conditions applying to the IP also will apply to such further information. 2

Non-GAAP Measures This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Management uses these “non-GAAP” measures in its analysis of the Company’s performance. Management believes these non-GAAP financial measures allow for better comparability of period to period operating performance. Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of the non-GAAP measures used in this presentation to the most directly comparable GAAP measures is provided in the Appendix to this presentation 3

Pro Forma Information Disclaimer The pro forma information presented herein gives effect to the acquisition of State Capital Corp. and is preliminary and subject to change. The pro forma financial information is based upon balance sheet and related risk-weighted asset information as of 3/31/20 and disclosed preliminary purchase accounting adjustments, per BancPlus Corporation’s S-4 filed with the SEC on 1/22/20, adjusted for the stock valuation of BancPlus used at the time of closing of the acquisition on 4/1/20. At this time, the final valuations of the assets acquired and liabilities assumed have not been completed and when completed, the final valuation information may materially alter the estimated pro forma information presented herein. Management undertakes no obligation to update the pro forma information presented herein. 4

Table of Contents 1. Offering Summary 2. Franchise Overview 3. COVID-19 Update 4. Financial Results 5. Loan and Deposit Information 6. Liquidity and Capital Position 7. Appendix 5

Offering Summary

Expected Terms of the Proposed Offering Issuer BancPlus Corporation Security Offered Holding Company Subordinated Notes Due 2030 Security Rating (1) BBB- by Kroll Bond Rating Agency Structure Fixed-to-Floating Rate Offering Type Regulation D Private Placement (2) Term 10 Years Call Date 5 Years General corporate purposes, which may include the potential repayment of existing Use of Proceeds indebtedness Sole Placement Agent Keefe, Bruyette & Woods, A Stifel Company (1) A rating is not a recommendation to buy, sell, or hold securities. Ratings may be subject to revision or withdrawal at any time by the assigning rating organization. Each rating agency has its own methodology for assigning ratings, and, accordingly, each rating should be evaluated independently of any other rating. (2) DTC eligible; DWAC settlement 7

Franchise Overview

Overview of BancPlus Corporation Summary Highlights Diversified Geographic Footprint + Our bank subsidiary, BankPlus, is a full service financial institution with 89 locations across Mississippi, Louisiana and Alabama communities (1) SouthavenSouthaven + Founded in 1909, we are the 6th largest bank operating in Mississippi by deposits th and the 6 largest bank headquartered in Mississippi by assets HuntsvilleHuntsville + Our franchise is built on a community banking approach focused on personalized, TupeloTupelo relationship-driven service Oxford + Recently completed the acquisition of State Capital Corp., a $1.2 billion asset GrenadaGrenada institution on April 1, 2020 + Total Insider Ownership of ~42% Columbus BirminghamBirmingham Financial Highlights (2) MeridianMeridian $4.2 $3.0 $3.7 81.6% ShreveportShreveport MonroeMonroe MontgomeryMontgomery Assets ($bn) Loans ($bn) Deposits ($bn) Loans / Deposits JacksonJackson Financial Performance Dothan Hattiesburg AlexandriaAlexandria MobileMobile 0.64% 95.6% 1.00% 12.2% BatonBaton RougeRouge Biloxi Cost of Total Core Reported Reported EuniceEunice Deposits Deposits ROAA ROATCE NewNew OrleansOrleans 8.5% / 13.6% / 7.8% 12.3% 0.64% 0.10% Standalone / Standalone / NPAs / NCOs / Pro Forma (2) Pro Forma (2) Total Assets Avg. Loans BankPlus (89) TCE / TA (3) Total Capital Ratio Data as of or for the three months ended 3/31/20 Note: Core deposits defined as total deposits less jumbo time deposits greater than $250,000 (1) BancPlus will have 80 branches effective June 12, following close of State Capital Corp. acquisition (2) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. (3) Reconciliation for non-GAAP metric provided in appendix 9

Experienced Leadership Senior Management Experience William A. “Bill” Ray * + Began as President and CEO of BancPlus in 1986 and is a member of the Board of Directors + Has worked at BancPlus for over 35 years President & CEO + Worked in public accounting for five years prior to joining BancPlus + Began with BancPlus as a Director of Risk Management in 1996 and has over 30 years of Eugene F. “Jack” Webb experience in banking industry Senior EVP & CBO + Held various positions at the Bank including Chief Community Banking Officer + Previously worked as a National Bank Examiner with the Controller of Currency + Now serves as a member of BancPlus’s executive management team following State Capital Kirk A. Graves * merger Senior EVP & Chief Operating Officer + Previously served as President and Chief Executive Officer at State Capital Corporation + Holds the Chartered Financial Analyst designation Mary “Ann” Southerland + Has over 35 years experience in financial and regulatory reporting, including 17 years at BancPlus + Previously VP of Finance and Controller of Tritel Communications, Inc. Senior EVP & CFO + Member of American Institute of Certified Public Accountants Gregory A. “Greg” Ray + Has over 30 years of experience in banking industry + Previously served as Executive Vice President and Chief Banking Officer of BancorpSouth Senior EVP & CRO + Holds the Chartered Financial Analyst designation Max S. Yates * + Has over 40 years of experience in the banking industry, including 30 years at BancPlus + Previously Senior Vice President of First National Bank of Holmes County Senior EVP & Chief Strategy Officer + Member of the Community Development Bankers Association board Eloise S. “Gee Gee” Patridge + Began with BancPlus as Internal Auditor in 1982 + Previously Chief Financial Officer from 2004 to 2012 Senior EVP & Chief Operations Officer + Member of Mississippi Banker’s Association Board T. Fillmore “Fil” Hall + Began with the company as a Director of Loan Review in 1999 + Has over 35 years of experience in the banking industry EVP & CCO + Previously served as commissioned field examiner for the FDIC * Denotes individual also serves on the Board of Directors 10

Our Competitive Strengths + Deep and experienced management team o Average industry experience of ~34 years and average tenure with BankPlus of ~21 years + Strong brand awareness and customer-focused business model o Viewed locally by customers as comparable to larger regional and super regional banks o Differentiated banking experience, personalized approach, convenient products and services, top rated digital and mobile applications, relationship banking, community involvement + Significant insider ownership and high employee satisfaction o ~42% insider ownership and consistently ranked as a Best Bank to Work For (1) + Stable, low-cost deposit franchise o MRQ cost of deposits of 0.64% + Extensive enterprise and credit risk management framework o Comprehensive approach, disciplined underwriting, robust policies and procedures + Diversified and granular loan portfolio o Average loan size: ~$100 thousand + Attractive profitability and return profile o 2019 ROAA of 1.24%; 2019 Core ROAA of 1.29%; Q1 ‘20 ROAA of 1.00%; Q1 ‘20 Core PTPP ROAA of 1.26% (2) (1) Ranked by the American Bankers Magazine (2) Reconciliation of non-GAAP metric provided in appendix 11

Our Core Purpose, Vision and Values + Our Core Purpose ‒ We enrich lives and build stronger communities + Our Vision ‒ We are a high-performing team committed to fulfilling promises, building lasting relationships and making dreams come true + Our Values ‒ Integrity: Do the right thing in all circumstances ‒ Trust: Be honest, reliable and dependable ‒ Respect: Recognize and appreciate the value of each individual ‒ Passion: Have enthusiasm, desire and drive ‒ Service: Proactively meet the needs of others ‒ Accountability: Accept responsibility for role in supporting the bank’s core purpose, vision and values ‒ Teamwork: Work together toward a common cause ‒ Innovation: Leverage information, technology, imagination and initiative By adding value through high performance… …BankPlus is More than a Name. It’s a Promise. 12

Response to COVID-19 + BancPlus has been actively following federal guidance release by regulatory agencies and has implemented the following benefits for lending customers: • Extensions up to 90 days on monthly pay loans with no payments due during the 90 days • Extensions up to 6 months if interest is paid to extend and interest is paid monthly during extension • BankPlus will suspend foreclosure sales and evictions for up to 90 days related to borrowers who have been impacted by the COVID-19 national emergency. Evaluations will be made on a case-by-case basis • After the forbearance period, the Bank will work with the borrower on a plan to help maintain or reduce monthly payment amounts as necessary, including a loan modification • CARES Act and Payment Protection Program − Processed 3,316 applications for clients and non-clients and obtained approval of approximately $293 million through May 1, 2020 − We expect additional fee income of approximately $10 million related to PPP + BancPlus has also restricted branch lobbies as of March 20, moving to appointment only • Drive through service remains fully operational during business hours • Customers are encouraged to use remote services + As of May 1, 2020, BancPlus had deferred 2,427 loans or approximately 26% of total gross loans 13

Our Growth Total Assets ($bn) 2015 2020 De novo Completed branch acquisition of State $5.0 1996 2000 expansion Capital Corp. Acquired Acquired First 2005 into Home Savings National Bank of De novo branch Tupelo Bank SSB Holmes County expansion into $4.2 DeSoto County 2009 rd $4.0 1997 Opened 23 new Acquired The branch in metro 1993 Mortgage Jackson Acquired Corporation of Bank of Flora Mississippi $3.0 $3.0 $2.7 $2.7 $2.8 1998 $2.6 1994 De novo Acquired $2.4 $2.4 branch $2.3 $2.2 $2.3 Southeast expansion into $2.2 $2.2 $2.0 Mississippi metro Jackson $2.0 Bank $1.8 $1.6 $1.3 $1.2 $1.1 $1.1 $1.1 $1.0 $0.9 $0.7 $0.5 $0.6 $0.3 $0.4 $0.2 $0.0 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Q1 (1) Source: S&P Global Market Intelligence '20 Data as of 12/31 each respective year; Q1 ’20 data as of 3/31/20 (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. 14

Our Services Deposit Products Loan Products Wealth Management + Asset Management + Business Checking + Commercial & Industrial + Commercial Real Estate-Backed + Portfolio Management + Commercial Lines of Credit + Retirement Planning + Small Business Checking + Working Capital Loans + Personal Trusts & Estates + Equipment Financing + Acquisition, Expansion and + Institutional Trusts + Business Interest Checking Development Loans + Court Appointed Trust + Borrowing Base Loans Commercial + Construction & Development Mortgage + Agri-Business Loans + Business Money Market + We originate conforming + SBA Loans residential mortgage loans for Deposit Products Loan Products resale into secondary markets to provide mortgage banking income + Checking Accounts + Real Estate Loans + Offer a full array of Fannie Mae and Freddie Mac mortgage products + Home Equity Loans + Savings Accounts Treasury Services + Home Equity Lines of Credit + DepositPlus – remote deposit + Money Market Accounts + Installment Loans capture Personal + Payroll solutions including: direct + Unsecured / Secured Personal deposit, payroll card, GroupPlus – Lines of Credit + Other Deposit Accounts employee benefits + Letters of Credit + Lockbox Services + Cash Management Sweep Program + Merchant Card Services 15

Markets of Operation Market Highlights Deposits by Select MSA + Mississippi is home to nearly 3 million people and over (1) Tupelo, MS, 10,000 small businesses 2% New Orleans- Other + Major employers include Nissan North America, Tyson Foods, Metairie, LA, 17% Sanderson Farms, Inc. and the State of Mississippi 2% Baton Rouge, LA, + Jackson, Mississippi is the state capital and its greater area is 3% home to a major manufacturing facility for Nissan, which Dothan, AL, 4% employs over 6,000 employees Jackson, MS 63% Memphis, TN, ‒ In 2002, BankPlus was chosen by Nissan North 4% America to be the only on-site banking services company at its new vehicle-manufacturing plant Meridian, MS, 4% + Following State Capital Corporation acquisition, BankPlus has recently extended operations to Louisiana and Alabama Projected 2025 Household Income ‒ In Louisiana, BankPlus will operate branches in the $70,000 Baton Rouge MSA and the New Orleans-Metairie $61,893 $56,567 $56,903 MSA, which are the two largest MSAs in the state $60,000 $54,339 $53,524 $52,346 $48,731 $49,607 $49,028 $50,000 $46,995 ‒ In Alabama, BankPlus will operate in the Mobile MSA, $44,578 which is the third largest MSA in the state, as well as $40,000 the Dothan and Enterprise MSAs, which rank in top quartiles for both ’20 – ’25 Projected Population and $30,000 BancPlus Jackson, Meridian, Memphis, Dothan, AL Baton New Tupelo, MS Mississippi Alabama Louisiana HHI Growth MS MS TN-MS-AR Rouge, LA Orleans- Metairie, LA Source: S&P Global Market Intelligence, Bureau of Labor Statistics, Census.gov Demographic data deposit weighted by county; deposit data as of 6/30/19 (1) Small businesses defined as businesses with $5 million - $25 million in projected annual sales 16

Jackson’s Local Community Bank + Identified de novo opportunity in Jackson after Deposit Guaranty’s sale to First American in 1998 Jackson MSA Deposit Market Share 2019 Deposit Market Share – Top 20 Historical Growth in Total Deposits ($bn) 15.6% $2.4 Deposits Market BankPlus: 9.6% CAGR Rank: 3 Rank Institution ($mm) Share Branches Jackson MSA: 4.4% CAGR $2.1 1 Trustmark Corp. $3,744 27.9 % 47 2 Regions Financial Corp. 2,539 18.9 33 3 BancPlus Corp. 2,092 15.6 39 4 BancorpSouth Bank 1,162 8.7 18 $1.8 5 Community Bancshares of Mississippi Inc. 654 4.9 8 6 Renasant Corp. 644 4.8 16 7 Origin Bancorp Inc. 408 3.1 5 8 Wells Fargo & Co. 341 2.6 4 9.7% 9 PriorityOne Capital Corp. 326 2.4 9 Rank: 3 10 First Commercial Bancshares Inc. 266 2.0 2 $1.2 11 Peoples Bancshares Inc. 238 1.8 4 $1.0 12 Yazoo Capital Corp. 216 1.6 5 13 BankFirst Capital Corp. 196 1.5 3 14 Copiah Bancshares Inc. 184 1.4 9 6.4% 15 Citizens National Banc Corp. 132 1.0 3 $0.6 Rank: 4 16 Holmes County Capital Corp. 94 0.7 3 17 Merchants and Planters Bank 79 0.6 4 $0.4 18 Liberty Financial Services Inc. 21 0.2 1 19 RiverHills Capital Corp. 12 0.1 1 20 Citizens Holding Co. 12 0.1 1 $0.0 2000 2009 2019 Source: S&P Global Market Intelligence Deposit data as of 6/30 each respective year; deposits capped at $1.0 bn per branch BankPlus Deposit Market Share & Rank Current data pro forma for announced transactions 17

Strong Presence in Attractive Southeast Markets + 80.1% of BancPlus’s Total Deposits are in the 8 MSAs listed below Market Highlights Mississippi Alabama Louisiana Memphis Jackson Tupelo Mobile Dothan New Orleans Baton Rouge Hammond GDP ($bn) (1) $73 $26 N/A $17 $5 $79 $45 $3 Population (000s) 1,346 598 166 429 148 1,278 856 136 Proj. Pop. ('20-'25) Growth 1.9% 0.5% 1.2% 0.4% 1.2% 2.4% 1.5% 4.5% Businesses 55,793 28,445 7,897 19,963 7,235 64,086 35,896 5,125 Market Deposits ($bn) $31.9 $14.0 $3.5 $7.3 $3.4 $35.9 $20.5 $2.0 Pro Forma BancPlus Deposits ($mm) $143.6 $2,091.8 $70.5 $33.6 $141.3 $74.0 $96.2 $12.8 Pro Forma BancPlus #32 #3 #6 #18 #8 #23 #23 #13 Deposit Market Share Rank Source: S&P Global Market Intelligence Deposit data as of 6/30/19; pro forma for announced transactions Note: Includes BancPlus MSAs of operation with current populations greater than 125,000 Note: N/A denotes data unavailable (1) Real GDP by MSA per Bureau of Economic Analysis’ 2017 Regional GDP Report 18

Financial Results

Balance Sheet Growth Over Time Historical Balance Sheet Standalone Loan CAGR: 4.7% Standalone Deposit CAGR: 7.2% Pro Forma Loan CAGR: 16.6% Pro Forma Deposit CAGR: 18.5% $5.0 $4.2 $4.0 $3.7 $3.0 $3.0 $3.0 $3.0 $2.7 $2.8 $2.7 $2.6 $2.6 $2.5 $2.1 $2.1 $2.1 $2.1 $2.1 $1.8 $1.9 $2.0 $1.0 L/D Ratio: L/D Ratio: L/D Ratio: L/D Ratio: L/D Ratio: L/D Ratio: 86.1% 90.3% 84.6% 80.2% 79.4% 81.7% $0.0 2016 2017 2018 2019 Q1 '20 Q1 '20 (1) Standalone Pro Forma Dollars in billions Data as of 3/31/20 (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. Assets Deposits Gross Loans 20

Improving Profitability Trends Reported vs. Core ROAA (%) (1) Reported vs. Core ROATCE (%) (1) 1.60% 20.0% 1.29% 1.29% 1.24% 15.4% 15.9% 1.20% 1.13% 16.0% 15.1% 14.5% 1.00% 0.99% 0.90% 12.2% 11.6% 12.1% 0.80% 0.68% 12.0% 0.63% 8.6% 0.46% 7.9% 0.40% 8.0% 5.4% 0.00% 4.0% 2016 2017 2018 2019 Q1 '20 2016 2017 2018 2019 Q1 '20 Reported vs. Core Efficiency Ratio (%) (1) NIM (FTE) (%) 100.0% 4.50% 4.09% 4.03% 90.0% 4.00% 3.76% 3.85% 82.2% 3.59% 80.0% 77.8% 3.50% 75.4% 74.8% 75.1% 72.0% 71.5% 70.2% 70.0% 3.00% 66.8% 67.3% 60.0% 2.50% 2016 2017 2018 2019 Q1 '20 2016 2017 2018 2019 Q1 '20 Yearly data as of or for the twelve months ended each respective year; Quarterly data as of or for the three months ended 3/31/20 Note: Core denotes figure adjusted for (Gain) / Loss on Sale / Write down of OREO, (Gain) / Loss on Sale of Other Assets, Realized Gain on Securities and other non-recurring expenses (1) Reconciliation for non-GAAP metric provided in appendix Reported Core 21

Diverse and Growing Fee Revenues 2019 Noninterest Income Noninterest Income as a % of Total Revenue Total $57.8 million 50.0% Service Charges on Deposit Other Income Accounts 32.6% 48.5% 38.8% 40.0% 36.3% Securities 35.9% 36.0% Gains, Net 0.1% Debit Card Interchange Mortgage 10.8% Origination 30.0% Income 28.0% 7.9% Q1 ‘20 Noninterest Income Total $14.2 million 20.0% Life Insurance Income Brokerage and 2.8% Insurances Fees Other and Income Commissions 9.8% 6.8% 10.0% ATM Income Service Charges 7.7% on Deposit Accounts 46.0% Income From Fiduciary 0.0% Activities 7.8% 2016 2017 2018 2019 Q1 '20 Debit Card Interchange Mortgage 10.2% Origination Income 8.9% Data for the twelve months ended 12/31/19 22

Capital Position TCE / TA (%) (1) Leverage Ratio (%) 10.0% 12.0% 8.4% 8.5% 8.2% 8.2% 7.8% 9.6% 9.9% 9.7% 7.5% 7.7% 9.2% 9.6% 9.1% 9.1% 7.5% 9.0% 5.0% 6.0% 2.5% 3.0% 0.0% 0.0% 2016 2017 2018 2019 Q1 '20 Q1 '20 (2) Q1 '20 (2) 2016 2017 2018 2019 Q1 '20 Q1 '20 (2) Q1 '20 (2) Standalone Pro Forma Pro Forma Standalone Pro Forma Pro Forma w/ $50mm w/ $50mm of Sub Debt of Sub Debt CET1 Ratio (%) Total Risk Based Capital (%) 12.0% 16.0% 10.9% 11.0% 13.8% 9.9% 9.8% 10.0% 10.0% 13.6% 13.6% 9.3% 11.9% 12.5% 12.6% 12.3% 9.0% 12.0% 6.0% 8.0% 3.0% 4.0% 0.0% 0.0% 2016 2017 2018 2019 Q1 '20 Q1 '20 (2) Q1 '20 (2) 2016 2017 2018 2019 Q1 '20 Q1 '20 (2) Q1 '20 (2) Standalone Pro Forma Pro Forma Standalone Pro Forma Pro Forma w/ $50mm w/ $50mm of Sub Debt of Sub Debt Data as of 3/31/20 (1) Reconciliation of non-GAAP metric provided in appendix (2) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. 23

Loan and Deposit Information

Loan Portfolio Overview Standalone MRQ Loan Comp. Pro Forma MRQ Loan Comp. Historical Loans Held for Investment ($bn) $3.0 Consumer & Consumer & Other Other $0.2 7% C&I 6% C&I 13% 15% C&D C&D $0.4 11% 11% $2.1 $2.1 $1.9 $2.0 $1.9 $0.7 $0.1 $0.1 $0.1 Non Owner- $0.1 Occupied $0.2 $0.3 $0.3 $0.3 Non Owner- $0.3 CRE $0.3 Occupied 24% $0.4 $0.4 $0.5 $0.6 CRE $0.4 22% $0.4 $0.1 $0.3 $0.4 $0.4 1-4 Family 1-4 Family $0.3 26% $0.3 $0.0 $0.0 $0.0 27% $0.0 $0.0 $0.8 $0.6 $0.6 $0.6 $0.5 $0.6 $0.3 $0.2 $0.1 $0.2 $0.2 $0.2 Owner- Multifamily Owner- Multifamily Occupied 1% Occupied 2% 2016 2017 2018 2019 Q1 '20 Q1 '20 CRE CRE (1) 17% 19% Standalone Pro Forma Loan Portfolio Amount % of Total Loan Portfolio Amount % of Total C&D 1-4 Family Multifamily C&D $235 11.1 % C&D $341 11.3 % Owner-Occupied CRE Non Owner-Occupied CRE C&I 1-4 Family 566 26.8 1-4 Family 771 25.6 Consumer & Other Multifamily 29 1.4 Multifamily 52 1.7 Owner-Occupied CRE 357 16.9 Owner-Occupied CRE 571 19.0 Non Owner-Occupied CRE 459 21.7 Non Owner-Occupied CRE 712 23.6 C&I 325 15.4 C&I 384 12.8 Consumer & Other 140 6.7 Consumer & Other 179 5.9 Historical Loans / Deposits (%) Gross Loans & Leases $2,110 100.0 % Gross Loans & Leases $3,010 100.0 % 90.3% 86.1% Yield on Loans: 5.30% 84.6% 81.7% 80.2% • Average loan size of $100,000 79.4% • Approximately $60 million of loans in the total portfolio are shared national credits • No consumer credit card loans • Standalone BancPlus has <$1 million in energy related loans and pro forma <$4 million (1) Dollars in millions unless otherwise noted 2016 2017 2018 2019 Q1 '20 Q1 '20 Annual data as of or for the twelve months ended each respective year; Loan composition data as of 3/31/20 Standalone Pro Forma (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. 25

Escalated Monitoring – Retail Portfolios Standalone – 3/31/20 Pro Forma – 3/31/20 Retail by Type Retail by Type Gas Stations / Gas Stations / + $213 million in Convenience + $286 million in Convenience Store Store balances or 10.2% of Other 14.9% balances or 9.6% of Other 19.1% total loans 12.5% total loans 12.5% Single Tenant Auto Dealers Retail Single Tenant 11.5% + All properties are in- 15.5% + All properties are in- Retail Auto Dealers 18.4% 11.9% footprint or in Grocery footprint or in Stores contiguous states to 9.6% contiguous states to Unanchored Unanchored existing footprint Multi-Tenant existing footprint Multi-Tenant Grocery Stores 35.9% 30.9% 7.1% + Average loan size of Retail by Geography + Average loan size of Retail by Geography $0.5 million $0.4 million Other Other Tennessee 3.8% Tennessee 3.2% 11.6% 8.6% + The current portfolio Alabama + Pro forma portfolio Alabama 5.8% has an average LTV 2.1% has an average LTV Louisiana of 60% 4.6% of 60% Louisiana 11.9% Mississippi Mississippi 70.5% 78.0% 26

Escalated Monitoring – Hotel Portfolios Standalone – 3/31/20 Pro Forma – 3/31/20 Hotels by Flag Hotels by Flag Boutique Boutique + $77 million in Non-Major Flag 3.7% + $109 million in 4.9% 8.6% Non-Major Flag balances or 3.7% of balances or 3.6% of 14.6% total loans total loans + All properties are in- + All properties are in- footprint or in footprint or in contiguous states to contiguous states to existing footprint Major Flag existing footprint Major Flag 87.7% 80.5% + Average loan size of Hotels by Geography + Average loan size of Hotels by Geography $2.9 million Tennessee $2.3 million 4% Alabama + The current portfolio Louisiana + Pro forma portfolio Tennessee 16% Louisiana 22% 3% 21% has an average LTV has an average LTV of 57% of 58% Mississippi 74% Mississippi 60% 27

Escalated Monitoring – Restaurant Portfolios Standalone – 3/31/20 Pro Forma – 3/31/20 Restaurants by Type Restaurants by Type Delivery Centric Delivery Centric + $18 million in 1.4% + $59 million in 0.5% balances or <1.0% of balances or 2.0% of Drive Thru Drive Thru 21.1% total loans 22.4% total loans + All properties are in- + All properties are in- footprint or in footprint or in contiguous states to Sit Down contiguous states to Sit Down 78.4% existing footprint 76.2% existing footprint + Average loan size of + Average loan size of Restaurants by Geography Restaurants by Geography $0.3 million $0.3 million Other Other 5% Alabama 6% 6% + The current portfolio + Pro forma portfolio has an average LTV has an average LTV of 68% of 68% Louisiana 42% Mississippi 46% Mississippi 95% 28

Escalated Monitoring – Entertainment Portfolios Standalone – 3/31/20 Pro Forma – 3/31/20 Entertainment by Type Entertainment by Type + $51 million in + $61 million in balances or 2.4% of Other Sports Facilities balances or 2.0% of Sports Facilities 18.1% Instruction Other Instruction total loans 13.9% total loans 21.1% 12.3% Sightseeing / Sightseeing / Tourism Fitness and Tourism 11.3% Recreation 13.5% + All properties are in- Centers + All properties are in- Golf Course 16.6% Fitness and 13.2% footprint or in Golf Course footprint or in Recreation contiguous states to 15.4% contiguous states to Centers Theaters 23.3% Theaters existing footprint 22.4% existing footprint 18.8% + Average loan size of Entertainment by Geography + Average loan size of Entertainment by Geography $0.7 million $0.6 million Other Alabama 7.2% Louisiana 1.2% 4.2% Other + The current portfolio + Pro forma portfolio 6.0% Louisiana has an average LTV has an average LTV 9.7% of 59% of 57% Mississippi Mississippi 88.6% 83.1% 29

Loan Concentrations Over Time C&D Concentration Over Time CRE Concentration Over Time 200% 400% 150% 300% 223% 100% 200% 187% 181% 86% 173% 164% 160% 76% 75% 75% 59% 48% 50% 100% 0% 0% (1) 2016 2017 2018 2019 Q1 '20 Q1 '20 (1) 2016 2017 2018 2019 Q1 '20 Q1 '20 Standalone Pro Forma Standalone Pro Forma Source: S&P Global Market Intelligence Note: 100% and 300% are the interagency guidance figures for C&D Concentration and CRE Concentration of a banking institution’s total risk-based capital, respectively (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. 30

Asset Quality Over Time NPAs / Loans + OREO (%) NCOs / Average Loans (%) 6.00% 0.60% 0.49% 4.54% 0.44% 4.50% 0.45% 0.34% 3.00% 3.00% 0.30% 0.17% 1.40% 1.50% 0.15% 0.10% 1.01% 0.85% 0.00% 0.00% 2016 2017 2018 2019 Q1 '20 2016 2017 2018 2019 Q1 '20 Reserves / Loans (%) Reserves / NPLs (%) 1.60% 200.0% 189.7% 1.18% 141.1% 1.20% 150.0% 0.99% 0.99% 1.03% 1.01% 133.1% 0.71% 83.1% 0.80% 100.0% 61.8% 0.40% 50.0% 0.00% 2016 2017 2018 2019 Q1 '20 Q1 '20 (1) 0.0% Standalone Pro Forma 2016 2017 2018 2019 Q1 '20 Yearly data as of or for the twelve months ended each respective year; Quarterly data as of or for the three months ended each respective quarter (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. 31

Attractive Deposit Mix (1) Standalone MRQ Deposit Mix Pro Forma MRQ Deposit Mix Historical Deposit Composition ($bn) Jumbo Jumbo Time Time Deposits Deposits Demand 4% Demand 5% $3.7 Retail Time Deposits Deposits Deposits Retail Time 22% 25% 10% Deposits $0.2 15% $0.5 Money Market & Savings $2.6 $2.6 23% $2.5 $0.1 $0.1 $0.1 $0.3 Money $0.3 $1.1 Market & NOW $2.1 $2.1 Accounts $0.3 Savings $0.1 $0.1 30% 27% NOW $0.3 $0.6 $0.6 Accounts $0.3 $0.5 37% $0.4 $0.4 Deposit Composition Amount % of Total Deposit Composition Amount % of Total Demand Deposits $667 25.3 % Demand Deposits $806 22.1 % $1.0 NOW Accounts 984 37.3 NOW Accounts 991 27.1 $1.0 $1.0 $1.0 Money Market & Savings 601 22.8 Money Market & Savings 1,113 30.5 $0.8 $0.7 Retail Time Deposits 275 10.4 Retail Time Deposits 547 15.0 Jumbo Time Deposits 112 4.2 Jumbo Time Deposits 197 5.4 Total Deposits $2,639 100.0 % Total Deposits $3,655 100.0 % $0.8 $0.6 $0.6 $0.6 $0.6 $0.7 Cost of Total Deposits Over Time (%) (1) 2016 2017 2018 2019 Q1 '20 Q1 '20 1.00% Standalone Pro Forma 0.74% 0.75% 0.70% 0.75% 0.65% 0.64% 0.45% 0.50% 0.38% Demand Deposits NOW Accounts Money Market & Savings 0.30% 0.24% 0.20% 0.25% 0.19% 0.15% 0.15% 0.15% 0.15% 0.15% 0.16% Retail Time Deposits Jumbo Time Deposits 0.00% Q1 '16 Q2 '16 Q3 '16 Q4 '16 Q1 '17 Q2 '17 Q3 '17 Q4 '17 Q1 '18 Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19 Q3 '19 Q4 '19 Q1 '20 Dollars in millions unless otherwise noted Source: S&P Global Market Intelligence Annual data as of or for the twelve months ended each respective year; Quarterly data as of or for the three months ended each respective quarter; Deposit mix composition data as of 3/31/20 (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. 32

Liquidity and Capital Position

Holding Company Capital and Liquidity + The Holding Company Cash is sufficient to cover in excess of 19 months of contractual expected outflows with no inflows Holding Company Capital as of 3/31/20 Sources of Liquidity as of 3/31/20 Standalone Common Equity $261.8 Holding Company Cash $14.0 (1) Pro Forma Common Equity 344.8 Dividend Capacity from Bank 30.1 Standalone Trust Preferred 41.2 Total Sources of Liquidity $44.1 Pro Forma Trust Preferred (1) 54.0 (2) Trust Preferred Detail Uses of Liquidity – for the Next 12 Months (2) Year of Interest Par Maturity Rate ($mm) Estimated Holding Company Overhead $3.5 BancPlus Statutory Trust II 2036 3 month LIBOR, plus 1.50% $20.6 Trust Preferred Debt 1.7 BancPlus Statutory Trust III 2037 3 month LIBOR, plus 1.35% 20.6 Holding Company Term Loan P&I 3.5 Standalone Total $41.2 State Capital Statutory Trust IV 2035 3 month LIBOR, plus 1.99% $5.2 Total Uses of Liquidity $8.7 First Bancshares of Baton Rouge Statutory Trust I 2034 3 month LIBOR, plus 2.50% 4.1 State Capital Master Trust 2037 3 month LIBOR, plus 1.46% 6.2 Pro Forma Total (1) $56.7 Dollars in millions (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. (2) Based upon standalone outlook 34

Strong Liquidity Position at the Bank AFS Securities Portfolio HTM Securities Portfolio Other Government $4.0 Agencies State and $5.2 Political Subdivision $45.9 State and Political MBS Subdivision $219.2 $106.8 Total Available-for-Sale Securities: $274.3 mm Bank Funding Sources Total Held-to-Maturity Securities: $106.8 Cash and Cash Equivalents: $347.6 Total Cash & Securities: $728.7 Outstanding / Remaining Usage Bank Sources Available Pledged Availability Percentage FHLB Fixed Rate Advances $815.8 $121.0 $694.8 14.8 % Average Rating: AA/AA- FRB 204.5 0.0 204.5 0.0 Weighted Average Life 4.0 years Correspondent Fed Funds Lines 148.0 0.0 148.0 0.0 Effective Duration 2.0 years Total Bank Funding $1,168.2 $121.0 $1,047.3 10.4 % Dollars in millions Data as of 3/31/20 35

Double Leverage and Historical Interest Coverage 2016 2017 2018 2019 Q1 '20 Bank-Level Equity $247,365 $260,924 $265,433 $287,511 $394,239 (1) Consolidated Equity 207,473 225,362 230,062 251,511 344,842 (1) Double Leverage Ratio 119% 116% 115% 114% 114% Interest Coverage Total Deposit Interest $3,161 $3,749 $8,201 $18,438 $4,252 Total Debt Interest 6,406 7,873 4,341 2,660 565 Total Interest Expense $9,567 $11,622 $12,542 $21,098 $4,817 Pre-Tax Core Income (2) 24,361 40,833 35,176 46,611 9,477 Interest Coverage (Excluding Deposit Interest Expense) 5.3x 6.7x 11.0x 25.5x 25.3x Interest Coverage (Including Deposit Interest Expense) 3.5x 4.5x 3.8x 3.2x 3.0x Dollars in thousands Source: S&P Global Market Intelligence Annual data as of or for the twelve months ended each respective year; Quarterly data as of or for the three months ended 3/31/20 (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. (2) Core denotes figure adjusted for (Gain) / Loss on Sale / Write down of OREO, (Gain) / Loss on Sale of Other Assets, Realized Gain on Securities and other non-recurring expenses 36

Appendix

BancPlus Corporation Pro Forma Balance Sheet – 3/31/20 State Capital Corp. Pro Forma Impact Sub. Debt Offering Impact Balance Sheet ($000) BancPlus State Capital Corp. Buyer BancPlus As Reported As Reported After-Tax Merger Pro Forma 3/31/2020 3/31/2020 P.A.A. Fair Value Goodwill Calc Expenses Net Impact 3/31/2020 Assets Cash and Equivalents $347,614 $73,359 $0 (A) $73,359 ($10,000) $63,359 $410,973 Total Investment Securities 381,090 98,070 (1,048) (B) 97,022 97,022 478,112 Gross Loans 2,094,112 899,036 (5,750) (C) 893,286 893,286 2,987,398 Loan Loss Reserves 21,170 7,281 (7,281) (D) -- 0 21,170 Net Loans 2,072,942 891,755 1,531 893,286 893,286 2,966,228 OREO 5,191 1,405 (591) (E) 814 814 6,005 Goodwill 2,616 27,408 (27,408) (F) 0 2,563 (M) 2,563 5,179 Other Intangibles 357 261 12,945 (G) 13,206 0 13,206 13,563 Net Deferred Tax Asset / (Deferred Tax Liability) (4,178) 719 (2,938) (H) (2,219) (2,219) (6,397) Other Assets 227,180 91,294 91,294 0 91,294 318,474 Total Assets $3,032,812 $1,184,271 ($17,509) $1,166,762 $2,563 ($10,000) $1,159,325 $4,192,137 Liabilities Deposits $2,639,004 $1,015,914 3,958 (I) $1,019,872 $1,019,872 $3,658,876 Subordinated Debt 0 0 0 0 0 Total Borrowings 36,709 30,831 69 (J) 30,900 30,900 67,609 Trust Preferred Equity 41,238 15,482 (2,686) (K) 12,796 12,796 54,034 Other Liabilities 54,029 12,747 12,747 12,747 66,776 Total Liabilities $2,770,980 $1,074,974 $1,341 $1,076,315 $1,076,315 $3,847,295 Equity Total Equity $261,832 $109,297 ($18,850) (L) $90,447 $2,563 ($10,000) $83,010 $344,842 Total Liabilities and Equity $3,032,812 $1,184,271 ($17,509) $1,166,762 $2,563 ($10,000) $1,159,325 $4,192,137 Footnotes - Balance Sheet & Capital Ratios (A) - Target after-tax deal charges (B) - Securities mark (C) - Gross loan mark (rate & credit) (D) - Target reserve release (E) - OREO mark (F) - Reverse target's goodwill (G) - Core deposit intangible; based upon 2.0% of State Capital's transaction related deposit accounts (H) - Includes net deferred tax asset / (liability) created in the transaction (I) - Write up to deposits (J) - FHLB borrowings purchase accounting adjustment (K) - Net effect of purchase accounting adjustment to retained earnings (L) - Equal to gross loan mark and OREO mark (M) - Equal to the premium paid in excess of the fair value of the net assets acquired Source: Company documents Data as of 3/31/20 Note: Preliminary purchase accounting adjustments per the S-4 filed 1/22/20 Note: The pro forma information is preliminary and subject to change. See pg. 4 for more information. 38

BancPlus Corporation - Historical Financial Highlights Twelve months ended December 31, Standalone Pro Forma 2016 2017 2018 2019 Q4 '19 Q1 '20 Q1 '20 (1) Balance Sheet Data: Total Assets $2,706,565 $2,714,204 $2,773,954 $2,979,064 $2,979,064 $3,032,812 $4,192,137 Total Loans 1,813,733 1,914,101 2,074,721 2,078,997 2,078,997 2,094,112 2,987,901 Deposits 2,106,225 2,120,305 2,453,412 2,592,064 2,592,064 2,639,004 3,658,876 Total Shareholders' Equity 207,473 225,362 230,062 251,511 251,511 261,832 344,842 Tangible Common Equity (2) 203,683 221,678 226,471 244,044 244,044 258,859 326,482 Income Statement Data: Interest Income $97,413 $104,566 $111,251 $124,408 $31,423 $30,112 -- Interest Expense 9,567 11,622 12,542 21,098 5,156 4,817 -- Net Interest Income 87,846 92,944 98,709 103,310 26,267 25,295 -- Provision for Loan Losses 9,659 7,287 15,227 586 524 185 -- Net Interest Income After Provision 78,187 85,657 83,482 102,724 26,791 25,110 -- Noninterest Income 55,757 52,961 38,390 57,753 15,692 14,200 -- Noninterest Expense 113,866 107,613 128,575 115,084 31,431 29,761 -- Income Before Income Taxes 22,935 34,640 12,602 45,393 11,056 9,549 -- Income Tax Expense 6,096 10,013 189 8,993 2,371 1,873 -- Net Income 16,839 24,627 12,413 36,400 8,685 7,676 -- Selected Operating Ratios: ROAA 0.63 % 0.90 % 0.46 % 1.24 % 1.17 % 1.00 % -- % ROACE 8.4 11.4 5.3 15.2 13.9 12.1 -- (2) ROATCE 7.9 11.6 5.4 15.4 14.2 12.2 -- Net Interest Margin 3.76 3.85 4.09 4.03 3.85 3.59 -- Efficiency Ratio 77.7 72.0 82.2 71.5 74.8 75.4 -- Per Share Data: Common Shares Outstanding 7,579,301 7,579,301 7,591,994 7,652,957 7,652,957 7,655,185 10,102,805 Asset Quality: Nonperforming Assets / Total Assets 3.13 % 2.16 % 1.06 % 0.71 % 0.71 % 0.64 % -- % Reserves / Gross Loans 0.99 0.99 1.18 1.03 1.03 1.01 -- Reserves / Nonperforming loans 62 83 141 133 133 190 -- NPAs / Loans + OREO 4.54 3.00 1.40 1.01 1.00 0.85 -- Net Charge Offs (Recoveries) / Average Loans 0.45 0.34 0.49 0.17 0.11 0.10 -- Capital Ratios: Leverage Ratio 9.2 % 9.6 % 9.9 % 9.7 % 9.7 % 9.6 % 9.1 % Common Equity Tier 1 Capital Ratio 9.3 9.9 9.8 10.9 10.9 11.0 10.0 Tier 1 Capital Ratio 11.1 11.6 11.5 12.6 12.6 12.7 11.6 Total Capital Ratio 11.9 12.5 12.6 13.6 13.6 13.6 12.3 Tang Common Equity / Tang Assets (2) 7.5 8.2 8.2 8.4 8.4 8.5 7.8 Dollars in thousands Yearly data as of or for the twelve months ended each respective year; Quarterly data as of or for the three months ended each respective quarter (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information. (2) Reconciliation for non-GAAP metric provided in appendix 39

Deposit Market Share by State Mississippi Louisiana Deposits Market Deposits Market Rank Institution ($mm) Share Branches Rank Institution ($mm) Share Branches 1 Trustmark Corp. $7,673 13.92 % 117 1 Capital One Financial Corp. $18,036 16.97 % 103 2 Regions Financial Corp. 6,543 11.87 123 2 JPMorgan Chase & Co. 17,511 16.47 121 3 BancorpSouth Bank 5,731 10.40 94 3 Hancock Whitney Corp. 14,717 13.84 121 4 Renasant Corp. 3,974 7.21 72 4 First Horizon National Corp. 8,971 8.44 63 5 Hancock Whitney Corp. 3,511 6.37 39 5 Regions Financial Corp. 7,461 7.02 95 6 BancPlus Corp. 3,185 5.78 74 6 Business First Bancshares Inc. 2,723 2.56 46 7 Community Bancshares of Mississippi Inc. 2,555 4.63 36 7 Origin Bancorp Inc. 1,811 1.70 21 8 Citizens National Banc Corp. 1,260 2.29 26 8 First Guaranty Bancshares Inc. 1,715 1.61 29 9 First Bancshares Inc. 1,003 1.82 18 9 Home Bancorp Inc. 1,684 1.58 35 10 Planters Holding Co. 935 1.70 19 10 Red River Bancshares Inc. 1,666 1.57 23 60 BancPlus Corp. 212 0.20 11 Alabama Deposits Market Rank Institution ($mm) Share Branches 1 Regions Financial Corp. $24,882 23.16 % 205 2 Banco Bilbao Vizcaya Argentaria SA 16,177 15.06 89 3 Wells Fargo & Co. 8,644 8.05 107 4 ServisFirst Bancshares Inc. 5,587 5.20 12 5 Synovus Financial Corp. 4,312 4.01 34 6 Truist Financial Corp. 3,740 3.48 70 7 PNC Financial Services Group Inc. 2,909 2.71 56 8 Cadence Bancorp. 2,585 2.41 27 9 Trustmark Corp. 1,791 1.67 42 10 First Horizon National Corp. 1,436 1.34 14 60 BancPlus Corp. 198 0.18 4 Source: S&P Global Market Intelligence Deposit data as of 6/30/19; pro forma for announced transactions 40

Deposit Market Share by Select Mississippi MSAs Jackson, MS MSA Meridian, MS MSA Deposits Market Deposits Market Rank Institution ($mm) Share Branches Rank Institution ($mm) Share Branches 1 Trustmark Corp. $4,347 31.03 47 1 Citizens National Banc Corp. $580 33.25 % 8 2 Regions Financial Corp. 2,539 18.13 33 2 Community Bancshares of Mississippi Inc. 218 12.48 2 3 BancPlus Corp. 2,092 14.93 39 3 Trustmark Corp. 188 10.78 4 4 BancorpSouth Bank 1,162 8.29 18 4 Great Southern Capital Corp. 184 10.56 7 5 Community Bancshares of Mississippi Inc. 654 4.67 8 5 Regions Financial Corp. 162 9.26 4 6 Renasant Corp. 644 4.60 16 6 BancPlus Corp. 146 8.38 5 7 Origin Bancorp Inc. 408 2.91 4 7 Commercial Capital Corp. 119 6.80 4 8 Wells Fargo & Co. 341 2.44 4 8 Citizens Holding Co. 86 4.91 5 9 PriorityOne Capital Corp. 326 2.33 9 9 First State Corp. 61 3.48 2 10 First Commercial Bancshares Inc. 266 1.90 2 10 Woodforest Financial Group Inc. 2 0.10 1 Tupelo, MS MSA Memphis, TN-MS-AR MSA Deposits Market Deposits Market Rank Institution ($mm) Share Branches Rank Institution ($mm) Share Branches 1 Renasant Corp. $1,284 36.37 % 16 1 First Horizon National Corp. $10,967 34.35 % 42 2 BancorpSouth Bank 946 26.80 14 2 Regions Financial Corp. 4,154 13.01 47 3 Trustmark Corp. 282 7.98 6 3 Truist Financial Corp. 2,295 7.19 24 4 Pontotoc Bancshares Corp. 269 7.61 3 4 Bank of America Corp. 1,380 4.32 12 5 Farmers and Merchants Bank 232 6.58 7 5 Renasant Corp. 1,221 3.83 14 6 Regions Financial Corp. 167 4.73 4 6 BancorpSouth Bank 1,127 3.53 22 7 First American Bancshares Inc. 104 2.94 6 7 Independent Holdings Inc. 873 2.73 9 8 Community Bancshares of Mississippi Inc. 80 2.26 2 8 Pinnacle Financial Partners Inc. 867 2.72 6 9 BancPlus Corp. 70 2.00 4 9 Trustmark Corp. 785 2.46 21 10 BNA Bancshares Inc. 57 1.61 2 10 Landmark Community Bank 664 2.08 5 32 BancPlus Corp. 144 0.45 6 Source: S&P Global Market Intelligence Deposit data as of 6/30/19; pro forma for announced transactions 41

Deposit Market Share by Select Non-MS MSAs Dothan, AL MSA Mobile, AL MSA Deposits Market Deposits Market Rank Institution ($mm) Share Branches Rank Institution ($mm) Share Branches 1 ServisFirst Bancshares Inc. $554 16.22 % 2 1 Regions Financial Corp. $2,260 31.11 % 24 2 Regions Financial Corp. 546 16.00 5 2 Hancock Whitney Corp. 841 11.57 7 3 Wells Fargo & Co. 400 11.70 6 3 Banco Bilbao Vizcaya Argentaria SA 833 11.47 12 4 Banco Bilbao Vizcaya Argentaria SA 365 10.69 3 4 PNC Financial Services Group Inc. 676 9.31 10 5 MidSouth Bancorp 203 5.94 5 5 Wells Fargo & Co. 617 8.49 10 6 Ameris Bancorp 150 4.39 3 6 First Horizon National Corp. 354 4.87 2 7 1st Jackson Bancshares Inc. 143 4.18 2 7 First Bancshares Inc. 345 4.75 10 8 BancPlus Corp. 141 4.14 2 8 ServisFirst Bancshares Inc. 337 4.64 2 9 HNB Holding Co. Inc. 137 4.00 3 9 Trustmark Corp. 335 4.61 6 10 BancorpSouth Bank 118 1.63 4 18 BancPlus Corp. 34 0.46 2 Baton Rouge, LA MSA New Orleans-Metairie, LA MSA Deposits Market Deposits Market Rank Institution ($mm) Share Branches Rank Institution ($mm) Share Branches 1 JPMorgan Chase & Co. $6,519 31.86 % 26 1 Capital One Financial Corp. $9,395 26.17 % 32 2 Capital One Financial Corp. 3,748 18.31 21 2 Hancock Whitney Corp. 7,844 21.85 44 3 Hancock Whitney Corp. 2,890 14.12 29 3 JPMorgan Chase & Co. 5,864 16.33 33 4 Regions Financial Corp. 1,658 8.10 24 4 Regions Financial Corp. 3,260 9.08 30 5 First Horizon National Corp. 903 4.41 6 5 First Horizon National Corp. 2,247 6.26 22 6 Investar Holding Corp. 881 4.30 14 6 Gulf Coast Bank and Trust Co. 1,402 3.90 17 7 Business First Bancshares Inc. 638 3.12 8 7 CB&T Holding Corp. 840 2.34 3 8 Red River Bancshares Inc. 296 1.45 6 8 First Trust Corp. 674 1.88 7 9 First Guaranty Bancshares Inc. 268 1.31 5 9 Fidelity Bank 596 1.66 14 10 Citizens Bancorp Inc. 267 1.30 7 10 One American Corp. 579 1.61 15 23 BancPlus Corp. 96 0.47 5 23 BancPlus Corp. 74 0.21 4 Source: S&P Global Market Intelligence Deposit data as of 6/30/19; pro forma for announced transactions 42

Our Board of Directors Board of Directors Background Ownership Information (1) Thomas G. Peaster + Spent over 38 years owning and operating Peaster Tractor, Inc. and + 874,827 shares; 8.7% ownership Chairman has served as Chairman of BancPlus since 1987 Randall E. Howard + Previously served as Director and President of Commercial Banking for + 6,045 shares; 0.1% ownership Vice Chairman Hibernia Corp. and Hibernia National Bank B. Bryan Jones III + Held various positions at BankPlus over a 45 year career, including + 351,543 shares; 3.5% ownership Vice Chairman Senior Executive Vice President and Chief Private Banking Officer Dr. S. R. Evans Jr. + Previously served as Vice Chairman of State Capital Corporation’s + 325,684 shares; 3.2% ownership Director Board of Directors Kirk A. Graves + Previously served as President and Chief Executive Officer of State + 11,129 shares; 0.1% ownership Director Corporation, as well as Chairman of State Bank & Trust Company Kennith W. Helton + Worked on a family farm before starting his extensive entrepreneurial + 118,405 shares; 1.2% ownership Director work in grocery industry R. Eason Leake + Serves as Chairman and CEO of Ross & Yerger + 94,750 shares; 0.9% ownership Director Carl R. “Bob” Montgomery + Serves as a partner with the law firm of Montgomery McGraw PLLC + 44,253 shares; 0.4% ownership Director Roy Hal Parker + Founder of Sunbelt Wholesale Supply Co, which later merged with + 7,250 shares; 0.1% ownership Director Service Partners, LLC John F. Phillips III + Owner and manager of farming and land ownership company Philips + 202,583 shares; 2.0% ownership Director Planting Company William A. “Bill” Ray + Began as President and CEO of BancPlus in 1986 and has over 35 + 167,795 shares; 1.7% ownership Director years of experience at the Company Max S. Yates + Has over 35 years of experience in the banking industry, including + 360,407 shares; 3.6% ownership Director almost 30 years at BancPlus Total Insider Ownership (Directors, Executive Officers & Employee Stock Ownership Plan) ~42% (1) Pro forma for the acquisition of State Capital Corp. The pro forma information is preliminary and subject to change. See pg. 4 for more information.; Ownership data as of 1/21/20 43

BancPlus Corporation – Non-GAAP Reconciliation Core Return on Average Assets / Core Pre-Tax, Pre-Provision Return on Average Assets 3 Months Ended Year Ended 3/31/2020 12/31/2019 2019 2018 2017 2016 Core return on average assets: Net income available to common shareholders $ 7,676 $ 8,685 $ 36,400 $ 12,413 $ 24,627 $ 15,544 Amortization of intangible assets 10 40 608 94 94 94 (Gain) Loss on sale / write down of ORE, net (41) (160) (130) 22,027 5,966 2,403 (Gain) Loss on disposal of fixed assets, net (4) 242 816 478 172 224 Gain on securities, net (37) (4) (76) (25) (39) - Core net income available to common shareholders $ 7,604 $ 8,803 $ 37,618 $ 34,987 $ 30,820 $ 18,265 Average assets 3,068,414 2,962,934 2,924,767 2,721,143 2,728,338 2,678,010 Core return on average assets 0.99% 1.19% 1.29% 1.29% 1.13% 0.68% Core pre-tax, pre-provision return on average assets: Core net income available to common shareholders $ 7,604 $ 8,803 $ 37,618 $ 34,987 $ 30,820 $ 18,265 Provision for loan losses 185 (524) 586 15,227 7,287 9,659 Tax expense 1,873 2,371 8,993 189 10,013 6,096 Core pre-tax, pre-provision net income $ 9,662 $ 10,650 $ 47,197 $ 50,403 $ 48,120 $ 34,020 Average assets 3,068,414 2,962,934 2,924,767 2,721,143 2,728,338 2,678,010 Core pre-tax, pre-provision return on average assets 1.26% 1.44% 1.61% 1.85% 1.76% 1.27% 44

BancPlus Corporation – Non-GAAP Reconciliation Core Efficiency Ratio 3 Months Ended Year Ended 3/31/2020 12/31/2019 2019 2018 2017 2016 Core efficiency ratio: Noninterest income $ 14,200 $ 15,136 $ 57,753 $ 57,695 $ 56,596 $ 58,614 Gain on disposal of fixed assets (29) - - (4) (81) - Gain on disposal of ORE (156) (302) (986) (332) (672) (230) Gain on securities (37) (4) (76) (25) (39) - Adjusted noninterest income 13,978 14,830 56,691 57,334 55,804 58,384 FTE Net interest income 25,452 26,437 104,022 99,609 94,836 89,812 Core total revenue $ 39,430 $ 41,267 $ 160,713 $ 156,943 $ 150,640 $ 148,196 Noninterest expense $ 29,761 $ 30,871 $ 115,084 $ 128,575 $ 107,613 $ 113,866 Loss on disposal of fixed assets (25) (242) (816) (482) (253) (224) Amortization of intangible assets (10) (40) (608) (94) (94) (94) Loss on sale / write down of ORE (115) (142) (856) (22,359) (6,638) (2,633) Core noninterest expense $ 29,611 $ 30,447 $ 112,804 $ 105,640 $ 100,628 $ 110,915 Core efficiency ratio 75.1% 73.8% 70.2% 67.3% 66.8% 74.8% 45

BancPlus Corporation – Non-GAAP Reconciliation Tangible Common Equity / ROATCE / Core ROATCE / TCE/TA Pro Forma 3 Months Ended Year Ended 3/31/2020 3/31/2020 12/31/2019 2019 2018 2017 2016 Average tangible common equity: Total average shareholders' equity $ 255,335 $ 248,504 $ 238,206 $ 236,077 $ 215,959 $ 200,356 Total average intangible assets (2,978) (3,005) (1,888) (5,093) (3,218) (4,111) Total average tangible common equity $ 252,357 $ 245,499 $ 236,318 $ 230,984 $ 212,741 $ 196,245 Return on average tangible common equity: Tangible common equity $ 252,357 $ 245,499 $ 236,318 $ 230,984 $ 212,741 $ 196,245 Net income $ 7,676 8,685 36,400 12,413 24,627 16,839 Preferred dividends - - - - - (1,295) Net income to common shareholders $ 7,676 $ 8,685 $ 36,400 $ 12,413 $ 24,627 $ 15,544 Return on average tangible common equity (ROATCE) 12.2% 14.2% 15.4% 5.4% 11.6% 7.9% Core return on average tangible common equity: Average tangible common equity $ 252,357 $ 245,499 $ 236,318 $ 230,984 $ 212,741 $ 196,245 Core net income to common shareholders 7,604 8,803 37,618 34,987 30,820 18,265 Preferred dividends - - - - - (1,295) Net income to common shareholders $ 7,604 $ 8,803 $ 37,618 $ 34,987 $ 30,820 $ 16,970 Core return on average tangible common equity 12.1% 14.3% 15.9% 15.1% 14.5% 8.6% Tangible common equity to tangible assets: Total shareholders' equity $ 344,842 $ 261,832 $ 251,511 $ 230,062 $ 225,362 $ 207,473 Intangible assets (18,742) (2,973) (2,982) (3,591) (3,684) (3,790) Tangible common equity $ 326,100 $ 258,859 $ 248,529 $ 226,471 $ 221,678 $ 203,683 Total assets $ 4,192,137 $ 3,032,812 $ 2,979,064 $ 2,773,954 $ 2,714,204 $ 2,706,565 Intangible assets (18,742) (2,973) (2,982) (3,591) (3,684) (3,790) Tangible assets $ 4,173,395 $ 3,029,839 $ 2,976,082 $ 2,770,363 $ 2,710,520 $ 2,702,775 Tangible equity to tangible assets ratio 7.8% 8.5% 8.4% 8.2% 8.2% 7.5% 46