Disclaimer This presentation has been prepared by us solely for informational purposes. This presentation has been prepared to assist interested parties in making their own evaluation of us and does not purport to contain all of the information that may be relevant. In all cases, interested parties should conduct their own investigation and analysis of us and the data set forth in this presentation and other information provided by or on behalf of us.This presentation does not constitute an offer to sell, nor a solicitation of an offer to buy, and of our securities by any person in any jurisdiction in which it is unlawful for such person to make such an offering or solicitation.Except as otherwise indicated this presentation speaks as of the date thereof. The delivery of this presentation shall not, under any circumstances, create any implication that there has been no change in our affairs after the date hereof.Certain of the information contained herein may be derived from information provided by industry sources. We believe that such information is accurate and that the sources from which it has been obtained are reliable. We cannot guarantee the accuracy of such information, however, and have not independently verified such information.We have filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents we have filed with the SEC for more complete information about us and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it from Sandler O'Neill & Partners, L.P., 1251 Avenue of the Americas, New York, NY 10020, by telephone at (866) 805 4128; or from Wells Fargo Securities, LLC, 608 2nd Avenue South, Minneapolis, MN 55402, Attention: WFS Customer Service, by telephone at 1-800-645-3751, or by email at wfscustomerservice@wellsfargo.com.

Forward-Looking Statements and Non-GAAP Financial Measures Forward-Looking Statements:Certain of the statements made in this presentation are “forward-looking statements” within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to our current beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance, capital, ownership or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Our performance may vary due to a variety of factors, including worldwide economic conditions, success in business retention and obtaining new business and other factors. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as “may,” “will,” “anticipate,” “assume,” “should,” “indicate,” “would,” “believe,” “contemplate,” “expect,” “estimate,” “continue,” “plan,” “point to,” “project,” “could,” “intend,” “target” and other similar words and expressions of the future.All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our Securities and Exchange Commission (“SEC”) reports and filings. Such reports are available upon request from the Bank, or from the SEC, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made other than required by law. About Non-GAAP Financial Measures:This presentation contains non-GAAP financial measures including “core” net income and other financial measures presented on a “core” basis. We believe such measures provide useful information to investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP; however, our non-GAAP financial measures have a number of limitations. As such, investors should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other companies use. Reconciliations of these non-GAAP measures to corresponding GAAP financial measures are provided in the Appendix of this presentation.

Terms of the Proposed Offering Bank of N.T. Butterfield & Son Ltd. (NYSE / NTB) Issuer Fixed-to-Floating Rate Structure Subordinated Notes Security $75.0 million Amount Basel III regulatory requirements for Tier 2 Capital as applied by the BMA Covenants Repay the outstanding 5.15% Series B subordinated notes due 2018, which will mature on May 27, 2018, and for other general corporate purposes, which may include the repayment of a portion of our other outstanding unsecured subordinated indebtedness Use of Proceeds 10 years, non-call 5 years Terms Sandler O’Neill + Partners, L.P. & Wells Fargo Securities, LLC Placement Agents A3 (Moody’s) / BBB (S&P) / BBB- (Fitch) Rating * * 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 should be evaluated independently of any other rating.

Company Overview Investment Highlights Leading Bank in Attractive Markets Franchise retail banking presence in Bermuda and CaymanNamed Bermuda Bank of the Year for 5th consecutive year by The Banker$9.8bn deposit balance with 2018 Q1 average cost of 0.12% Strong Capital Generation and Return Core ROATCE of 24.3%¹Core ROATA of 1.7%¹ Efficient, Conservative Balance Sheet 40% Risk-Weighted Assets / Total Assets ratio41% Gross Customer Loans / Deposits59% Cash + Securities / Total AssetsNPAs / Assets of 0.50% Visible Earnings Fee income ratio of 32.7% Low-cost depositsFloating-rate loans and securities portfolio positioned to benefit from rising ratesAccretive acquisitions announced Experienced Team with Deep Market Knowledge Average of 27 years of relevant industry experienceCombined decades of familiarity in key specialized geographic markets See the Appendix for a reconciliation of the non-GAAP measuresNote: All information in US$ as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: S&P Global Market Intelligence and Company data 1 2 3 4 5

Leading Bank in Attractive Markets Market Operations $11.0 bn 1.8 bn 4.5 bn 4.0 bn 9.8 bn 2018 Q1 2018 Q1 $44.2 mm 24.3% 1.7% Key Balance Sheet Items Key Operating Metrics Total Assets Cash & Cash Equivalents Investments in Securities Net Loans Deposits Net Income Core ROATCE ² Core ROATA ³ Financial Snapshot Geographic Footprint Supports Expanding Trust Business¹ Locations based on where trusts are administered, rather than geography of client residenceCore ROATCE is a non-GAAP measure calculated as core earnings to common shareholders / average tangible common equity. See the Appendix for a reconciliation of the non-GAAP measuresCore ROATA is a non-GAAP measure calculated as core net income / average tangible assets. See the Appendix for a reconciliation of the non-GAAP measuresNote: All information in US$ as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: S&P Global Market Intelligence and Company data 0.12% Cost of Deposits 1 Awards $10.8 bn 1.5 bn 4.7 bn 3.8 bn 9.5 bn 2017Y 2017Y $153.3 mm 22.4% 1.5% 0.11%

Leading Bank in Attractive Markets Who We Are and What We Do Cayman Islands Bahamas Business Line Core Geographies Clients Focus Areas / Key Statistics Banking Wealth Management Bermuda(54% of Group deposits¹,51% of Group loans²) Cayman Islands(31% of Group deposits¹,25% of Group loans²) Bermuda Switzerland Organic Growth Potential / Historically Attractive Returns / Limited Competition Organic & Acquisition Growth Potential / Lower Capital Requirements Industry Characteristics Global deposits fund local mortgages$9.8bn deposits, $4.0bn net loans64% mortgages, 32% commercial loans³ Butterfield is Trustee: $95.4bn AUA4The trusts and beneficiaries require private banking and asset managementExpansion in Asia Private trust clientsUltra-high net worth, multi-generational families from Europe, Asia, Latin America, and Middle East Local residentsCaptive insurersHedge funds Local residentsCaptive insurersMid-market reinsurers Includes private banking deposits. Based on customer depositsBased on gross loans. Based on country in which loan was originatedCommercial loans include government loansAUA for trust only, does not include custody; US$ as of 31-Dec-2017Note: All information in US$ as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data Singapore Guernsey / Jersey 1

Leading Bank in Attractive Markets Bermuda and Cayman Islands British Overseas Territories, English Common Law, UK Privy Council final court of appealAffluent resident population, no corporate or personal income taxFATCA / CRS tax transparency requires reporting on foreign nationals to 67 tax authorities, including US tax persons to the IRSThe Bermuda Monetary Authority (BMA) and the Cayman Islands Monetary Authority (CIMA) are primary financial services regulators Global capital: Foreign currency deposits (primarily USD) held by local banks exceed 3x GDP in Bermuda and Cayman Islands Global Reinsurance Market Captive Insurance Domicile Insurance Linked Securities Domicile 15 of the top 40 global reinsurers 800 captive insurers 70% of issuance and outstanding securities Fund Domicile Captive Insurance Domicile International Financial Center 34% of hedge funds and 85% of offshore funds 360 captive insurers 40 of the world’s 50 largest banks Bermuda Cayman Islands #2 #1 #1 #1 #2 Bermuda’s Insurance & Reinsurance Market¹ Cayman Islands’ Financial Services Market¹ Key Market Attributes Real GDP Growth Actual Estimate Sovereign Ratings as of 1-Nov-2016Source: SNL Financial, Association of Bermuda Insurers and Reinsurers, Bermuda Government, UN Department of Economic and Social Affairs Population Division, Butterfield Research, CIA World Fact Book, The Economist, Appleby, http://www.cayman.finance/2016/03/the-cayman-islands-a-guide-for-hedge-fund-managers/; Bermuda Risk Directory (http://www.brd.bm/about-bermuda/) 1

Leading Bank in Attractive Markets Award-Winning Trust Business Very Large Large Boutique Franchise Private Client Trust focusDiversified Fee Players Trustee feesFX feesCustody feesAsset management feesNII Deposits Client’s Assets Assets / Deposits TrustRelationship Legal Ownership Pays Income and / or Capital Administers &Manages Beneficial Ownership Trustee Beneficiaries Bank-owned trust company with over 70 years of experienceMulti-jurisdictional offering in English Common Law domicilesFiduciary expertise and service respected by key introducersRecognized as one of the leading trust companies in the world Very Large Large Boutique Franchise / Private Trust Overview Private Trust Economics Butterfield Value Proposition Private Trust Landscape 1

Leading Bank in Attractive Markets First Quarter 2018 Highlights vs. Q4 2017 vs. Q4 2017 vs. Q1 2017 vs. Q1 2017 (in millions of US$) Q1 2018 Q1 2018 $ $ % $ $ % Net Interest Income $ 79.9 $ 3.8 3.9 % $ 12.0 14.2 % Non-Interest Income 39.8 (2.6 ) (1.2 )% 1.2 5.4 % Prov. for Credit Losses 1.9 (3.4 ) (228.8 )% 1.6 (315.3 )% Non-Interest Expenses² (77.8 ) 3.1 (2.2 )% (6.6 ) (4.8 )% Other Gains (Losses) 0.4 3.0 (11.6 )% 0.1 181.3 % Net Income $ 44.2 $ 3.9 9.8 % $ 8.3 23.3 % Non-Core Items¹ 0.8 (1.1 ) (128.6 )% (1.8 ) (104.5 )% Core Net Income¹ $ 45.0 $ 2.8 3.7 % $ 6.5 14.5 % Net income of $44.2 million, or $0.79 per shareCore Net Income¹ of $45.0 million, or $0.81 per shareReturn on average common equity of 21.8%; core return on average tangible common equity¹ of 24.3% Net Interest Margin of 3.05%, cost of deposits of 0.12% Completed acquisition of Global Trust Solutions business from Deutsche BankAnnounced acquisition of Deutsche Bank's banking and custody business in the Cayman Islands and Channel IslandsCommon share dividend of $0.38 per share 2017 2018 2017 2018 Core Return on Average Tangible Common Equity¹ Core Net Income¹ ($ Millions) See the Appendix for a reconciliation of the non-GAAP measureIncludes income taxesNote: All information in US$ as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$ 1

Leading Bank in Attractive Markets Strong Profitability Core ROATA¹ (%) Core ROATCE² (%) Net Interest Margin (%) Core Efficiency Ratio³ (%) Core ROATA is a non-GAAP measure calculated as core net income / average tangible assets. See the Appendix for a reconciliation of the non-GAAP measuresCore ROATCE is a non-GAAP measure calculated as core net income attributable to common shareholders / average tangible common equity. See the Appendix for a reconciliation of the non-GAAP measuresCore efficiency ratio is a non-GAAP measure calculated as core non-interest expenses / (non-interest income + net interest income before provision for credit losses). See the Appendix for a reconciliation of the non-GAAP measuresNote: All information in US$ as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data 1

Efficient, Conservative Balance Sheet Stable Portfolio, Attractive Characteristics Loan Portfolio Stability¹ Residential Loan Market Characteristics Commercial Loan Market Total based on net loans, breakout based on gross loansNote: All information in US$billions as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: S&P Global Market Intelligence and Company data 3 Attractive Yields 2017 average yield of 5.19% on consumer loans, including residential mortgages Rate Upside 93% of loans are floating Historically Predictable Flows High refinancing fees strongly disincentivize refinancing activity Favorable Credit Risk Characteristics Manual review by experienced underwritersHistorically conservative LTVsFull recourse in Bermuda and Cayman Cultural Benefit Real estate represents important source of savings for most families in Bermuda Favorable Credit Risk Characteristics Personal recourse on non-RE lendingCurrent loan origination standards below 65% LTV Historically Stable Loan Structures Long-term leases (>7 years WAL) mitigate risks of industry consolidation and turnover

Efficient, Conservative Balance Sheet Strong Asset Quality $42mm NPAs¹ / Total Assets Non Accrual Loans by Type Net Charge-Off Ratio² Reserves / Nonperforming Loans Nonperforming assets defined as gross non-accrual loans - specific allowance for credit losses on non-accrual loans + accruing loans past due 90 days + other real estate ownedThe Net Charge-Off ratio is calculated as net charge-off expense / average total loans. Average total loans is calculated as the average of the month-end asset balances during the relevant periodNote: All information in US$ as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: S&P Global Market Intelligence 3

Visible Earnings NIM Increase Driven by Long-term US Treasury Yields 2016 to 2017 Highlights Net Interest Margin NIM increased by 28 basis points to 273 basis points compared to 245 basis points in 2016, and the cost of funding declined by 1 basis point to 11 basis points. The primary driver of the increase in NIM was an increase in investment portfolio yields by 27 basis points to 222 basis points due to an average increase in the long-term yield of US Treasury debt over the year, which was reflected in our portfolio due to the high proportion of our portfolio in adjustable-rate securities. This was augmented by an increase in the yield on our loans due to base rate increases in certain jurisdictions. Source: Company data 4

Experienced Team with Deep Market Knowledge Leadership Team Michael CollinsChairman &Chief Executive Officer 55 Michael SchrumChief Financial Officer Daniel FrumkinChief Operating Officer 49 53 Age Background 30+ 20+ 30+ Experience Joined Butterfield in 2009Formerly COO at HSBC Bermuda Joined Butterfield in 2015Formerly CFO at HSBC Bermuda Joined Butterfield in 2010Formerly CRO of Retail Banking at RBS Title Year Joined Age General Counsel & Group Chief Legal Officer 58 2012 Andrew Burns Sian Dalrymple Group Head of Compliance 54 2017 Shaun Morris Group Head of Internal Audit 39 2007 Elizabeth Bauman Group Head of Human Resources 57 2015 Experience 30 25 17 25 5 Source: Company data

Company Overview Potential Growth Opportunities Organic Macro Strategic Acquisitions Completed to Date Net Interest IncomeBML loan growthDeployment of depositsFee IncomeFee pricing reviewsExpense ReductionStrengthen compliance and regulatory modelExpand Halifax centerInvest in IT infrastructure and cyber securityCost discipline – contractors / vendorsCapital ActionsTactical share repurchase programIssue replacement subordinated debtIncrease dividend to maintain pay-out ratio Strong Pipeline Geography Size Financial Bermuda Cayman Apr-2016 Nov-2014 Apr-2014 Organic Initiatives Underway Net Interest Income Sensitivity Acquisition Criteria Mar-2018 GTS Peer Group includes: FRC, SIVB, EWBC, CFR, ASB, WTFC, CBSH, IBKC, UMBF, FHB, BOH, TRMK, IBOC, CBU, BPFH, FFIN, WABCSource: S&P Global Market Intelligence

Appendix Risk Management Source: Company data Board of Directors Executive Management Audit Committee Reviews the overall adequacy and effectiveness of the Group's system of internal controls and the control environment. Group Asset and Liability Committee ("GALCO") Chaired by the Chief Financial Officer and is responsible for liquidity, interest rate and exchange rate risk management and other balance sheet issues Oversees the Group's risk profile and its performance against approved risk appetites and tolerance thresholds. Risk Policy and Compliance Committee (“RPC”) Provisions and Impairments Committee Chaired by the Chief Risk Officer and is responsible for approving significant provisions and other impairment charges. Group Credit Committee ("GCC") Chaired by the Chief Risk Officer and is responsible for a broad range of activities relating to the monitoring, evaluation and management of credit risks assumed across the Group at both transaction and portfolio levels Group Risk Committee ("GRC") Chaired by the Chief Risk Officer and provides a forum for the strategic assessment of risks assumed across the Group as a whole Organizational structure supports comprehensive management of Financial services risks

Appendix Non-GAAP Reconciliation ($ Millions) (in millions of US Dollars, unless otherwise indicated) 2018 2018 2017 2017 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Net income A $ 44.2 $ 40.3 $ 41.1 $ 36.1 $ 35.9 Dividends and guarantee fee of preference shares — — — — — Premium paid on repurchase of preference shares B — — — — — Net income to common shareholders C 44.2 40.3 41.1 36.1 35.9 Non-core (gains), losses and expenses Non-core (gains) losses Gain on disposal of a pass-through note investment (formerly a SIV) (0.9 ) — (2.5 ) — (0.1 ) Impairment of and gain on disposal of fixed assets (including software) — — — — — Change in unrealized (gains) losses on certain investments — — — — — Adjustment to holdback payable for a previous business acquisition — — 0.1 — 0.1 Total non-core (gains) losses D $ (0.9 ) $ — $ (2.4 ) $ — $ — Non-core expenses Early retirement program, redundancies and other non-core compensation costs — — 0.1 0.1 — Tax compliance review costs 0.1 0.6 0.4 0.7 0.2 Provision in connection with ongoing tax compliance review — — — — — Business acquisition costs 1.6 1.0 1.1 — — Restructuring charges and related professional service fees — 0.3 0.4 0.6 0.4 Investigation of an international stock exchange listing costs — — — — — Cost of 2010 legacy option plan vesting and related payroll taxes — — — — — Secondary offering costs — — — — 2.0 Total non-core expenses E $ 1.7 $ 1.9 $ 2.0 $ 1.4 $ 2.6 Total non-core (gains), losses and expenses F=D+E 0.8 1.9 (0.4 ) 1.4 2.6 Core net income G=A+F $ 45.0 $ 42.2 $ 40.7 $ 37.5 $ 38.5 Core net income attributable to common shareholders H=C-B+F 45.0 42.2 40.7 37.5 38.5 Average shareholders' equity 820.7 809.6 788.9 759.2 729.3 Less: average preference shareholders' equity — — — — — Average common equity I 820.7 809.6 788.9 759.2 729.3 Less: average goodwill and intangible assets (68.4 ) (60.9 ) (61.3 ) (61.6 ) (61.7 ) Average tangible common equity J 752.3 748.7 727.6 697.6 667.6 Return on equity C/I 21.8 % 19.7 % 20.7 % 19.0 % 19.9 % Core return on average tangible common equity H/J 24.3 % 22.3 % 22.2 % 21.6 % 23.4 % Core earnings per common share fully diluted Adjusted weighted average number of diluted common shares (in thousands) K 55.8 55.6 55.5 55.6 55.2 Earnings per common share fully diluted C/K 0.79 0.72 0.74 0.65 0.65 Non-core items per share (F-B)/K 0.02 0.04 (0.01 ) 0.02 0.05 Core earnings per common share fully diluted 0.81 0.76 0.73 0.67 0.70 Note: All information in US$millions and as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data

Appendix Non-GAAP Reconciliation ($ Millions) (cont’d) (in millions of US Dollars, unless otherwise indicated) 2018 2018 2017 2017 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Core return on average tangible assets Total average assets L $ 10,970.9 $ 10,851.0 $ 10,744.8 $ 10,981.8 $ 10,982.6 Less: average goodwill and intangible assets (68.4 ) (60.9 ) (61.3 ) (61.6 ) (61.7 ) Average tangible assets M $ 10,902.5 $ 10,790.1 $ 10,683.5 $ 10,920.2 $ 10,920.8 Return on average assets A/L 1.6 % 1.5 % 1.5 % 1.3 % 1.3 % Core return on average tangible assets G/M 1.7 % 1.6 % 1.5 % 1.4 % 1.5 % Tangible equity to tangible assets Shareholders' equity $ 824.2 $ 822.9 $ 802.4 $ 769.9 $ 741.0 Less: goodwill and intangible assets (90.9 ) (60.6 ) (61.4 ) (61.5 ) (61.4 ) Tangible total equity N 733.4 762.3 741.0 708.4 679.6 Less: preference shareholders' equity — — — — — Tangible common equity O 733.4 762.3 741.0 708.4 679.6 Total assets 10,988.2 10,779.2 10,578.4 10,678.7 10,943.6 Less: goodwill and intangible assets (90.9 ) (60.6 ) (61.4 ) (61.5 ) (61.4 ) Tangible assets P $ 10,897.4 $ 10,718.6 $ 10,517.0 $ 10,617.2 $ 10,882.2 Tangible common equity to tangible assets O/P 6.7 % 7.1 % 7.0 % 6.7 % 6.2 % Tangible total equity to tangible assets N/P 6.7 % 7.1 % 7.0 % 6.7 % 6.2 % Efficiency ratio Non-interest expenses $ 77.4 $ 80.4 $ 73.6 $ 75.3 $ 71.0 Less: Amortization of intangibles (1.1 ) (1.1 ) (1.0 ) (1.1 ) (1.0 ) Non-interest expenses before amortization of intangibles Q 76.3 79.3 72.6 74.2 70.0 Non-interest income 39.8 42.4 38.2 38.7 38.5 Net interest income before provision for credit losses 79.9 76.1 74.3 71.5 67.9 Net revenue before provision for credit losses and other gains/losses R $ 119.7 $ 118.4 $ 112.5 $ 110.2 $ 106.4 Efficiency ratio Q/R 63.8 % 67.0 % 64.5 % 67.4 % 65.7 % Core efficiency ratio Non-interest expenses $ 77.4 $ 80.4 $ 73.6 $ 75.3 $ 71.0 Less: non-core expenses (E) (1.7 ) (1.9 ) (2.0 ) (1.4 ) (2.6 ) Less: amortization of intangibles (1.1 ) (1.1 ) (1.0 ) (1.1 ) (1.0 ) Core non-interest expenses before amortization of intangibles S 74.6 77.4 70.6 72.8 67.4 Net revenue before provision for credit losses and other gains/losses T 119.7 118.4 112.5 110.2 106.4 Core efficiency ratio S/T 62.3 % 65.4 % 62.8 % 66.1 % 63.2 % Note: All information in US$millions as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data

Appendix Balance Sheet Trends ($ Millions) 2018 2018 2017 2017 2016 2016 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Assets Cash & Equivalents $ 1,846 $ 1,535 $ 1,546 $ 1,720 $ 1,867 $ 2,102 $ 1,485 $ 2,655 $ 1,774 Reverse Repos 198 179 210 184 63 149 186 — — S/T Investments 100 250 208 294 542 520 995 436 425 Investments 4,512 4,706 4,613 4,558 4,549 4,400 4,114 3,870 3,679 Loans, Net 3,957 3,777 3,664 3,588 3,573 3,570 3,836 3,904 3,953 Other Assets 376 332 338 335 350 363 363 422 355 Total Assets $ 10,988 $ 10,779 $ 10,578 $ 10,679 $ 10,944 $ 11,104 $ 10,979 $ 11,287 $ 10,186 Liabilities and Equity Total Deposits $ 9,754 $ 9,536 $ 9,407 $ 9,479 $ 9,849 $ 10,034 $ 9,667 $ 10,091 $ 8,939 Long-Term Debt 117 117 117 117 117 117 117 117 117 Other Liabilities 293 303 252 313 236 242 230 263 343 Total Liabilities $ 10,164 $ 9,956 $ 9,776 $ 9,909 $ 10,203 $ 10,393 $ 10,014 $ 10,471 $ 9,399 Common Equity $ 824 $ 823 $ 802 $ 770 $ 741 $ 711 $ 782 $ 633 $ 604 Preferred Equity — — — — — — 183 183 183 Total Equity $ 824 $ 823 $ 802 $ 770 $ 741 $ 711 $ 965 $ 816 $ 787 Total Liabilities and Equity $ 10,988 $ 10,779 $ 10,578 $ 10,679 $ 10,944 $ 11,104 $ 10,979 $ 11,287 $ 10,186 Key Metrics TCE / TA 6.7 % 7.1 % 7.0 % 6.7 % 6.2 % 5.9 % 6.6 % 5.0 % 5.5 % CET 1 Ratio 17.6 % 18.2 % 17.8 % 17.0 % 15.8 % 15.3 % 16.1 % 12.3 % 12.4 % Total Tier 1 Capital Ratio 17.6 % 18.2 % 17.8 % 17.0 % 15.8 % 15.3 % 20.5 % 16.5 % 16.4 % Total Capital Ratio 19.2 % 19.9 % 19.9 % 19.1 % 17.9 % 17.6 % 22.9 % 18.9 % 18.7 % Note: All information in US$millions as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data

Appendix Income Statement Trends ($ Millions) 2018 2018 2017 2017 2016 2016 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Net Interest Income $ 79.9 $ 76.1 $ 74.3 $ 71.5 $ 67.9 $ 66.8 $ 65.0 $ 64.3 $ 62.3 Non-Interest Income 39.8 42.4 38.2 38.7 38.5 38.8 36.3 37.9 34.5 Prov. for Credit Recovery (Losses) 1.9 5.4 0.7 (0.5 ) 0.3 0.9 (0.3 ) (5.3 ) 0.3 Non-Interest Expenses 77.8 80.8 73.8 75.6 71.2 71.9 77.5 67.0 70.2 Other Gains (Losses) 0.4 (2.7 ) 1.8 2.0 0.2 0.8 0.6 (0.2 ) (0.2 ) Net Income $ 44.2 $ 40.3 $ 41.1 $ 36.1 $ 35.9 $ 35.4 $ 24.0 $ 29.8 $ 26.8 Non-Core Items ¹ $ 0.8 $ 1.9 $ (0.4 ) $ 1.4 $ 2.6 $ 1.7 $ 9.4 $ 2.3 $ 9.2 Core Net Income $ 45.0 $ 42.2 $ 40.7 $ 37.5 $ 38.5 $ 37.1 $ 33.4 $ 32.1 $ 36.0 Key Metrics Loan Yield 5.31 % 5.23 % 5.16 % 5.11 % 4.90 % 4.92 % 4.75 % 4.72 % 4.74 % Securities Yield 2.54 2.27 2.22 2.20 2.17 1.98 1.91 1.87 2.07 Cost of deposits 0.12 0.12 0.10 0.11 0.11 0.10 0.11 0.12 0.15 Net Interest Margin 3.05 2.87 2.81 2.66 2.58 2.45 2.39 2.44 2.54 Core Efficiency Ratio ¹ 62.3 65.4 62.8 66.1 63.2 65.6 65.3 61.8 62.5 Core ROATCE ¹ 24.3 22.3 22.2 21.6 23.4 19.3 19.0 20.1 23.7 Fee Income Ratio 32.7 34.2 33.8 35.3 36.1 36.4 35.9 39.1 35.5 Fully Diluted Share Count (in millions of common shares) 55.8 55.6 55.5 55.6 55.2 54.7 49.0 47.3 47.4 Includes non-service employee benefitsNote: All information in US$millions and as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data

Appendix Non-Interest Income & Expense Trends 2018 2018 2017 2017 2016 2016 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Non-Interest Income Trust $ 10.9 $ 11.3 $ 10.9 $ 11.3 $ 11.4 $ 11.5 $ 11.6 $ 10.8 $ 10.1 Asset Management 6.4 6.6 6.3 5.9 5.8 6.0 5.6 5.3 4.2 Banking 10.9 12.0 10.8 10.9 10.0 11.0 9.7 10.0 8.7 FX Revenue 8.2 8.8 7.6 7.5 8.3 7.4 6.5 8.4 8.3 Custody & Other Admin. 2.2 2.2 2.0 1.9 2.0 2.0 2.3 2.3 2.2 Other 1.2 1.4 0.5 1.1 0.9 0.9 0.6 1.0 1.0 Total Non-Interest Income $ 39.8 $ 42.4 $ 38.2 $ 38.7 $ 38.5 $ 38.8 $ 36.3 $ 37.9 $ 34.5 Non-Interest Expense Salaries & Benefits¹ $ 37.0 $ 42.4 $ 37.4 $ 37.4 $ 36.0 $ 34.2 $ 42.4 $ 32.2 $ 31.2 Technology & Comm. 14.7 14.4 13.2 13.4 12.9 14.5 14.4 14.1 14.5 Property 5.1 4.5 5.1 5.4 4.9 5.5 5.4 5.1 5.0 Professional & O/S Services 9.7 8.0 6.9 6.1 6.2 5.4 4.1 5.4 4.1 Indirect Taxes 4.9 4.7 4.6 4.5 4.2 4.7 4.2 2.8 4.6 Intangible Amortization 1.1 1.1 1.0 1.1 1.0 1.0 1.2 1.3 1.1 Marketing 0.9 1.5 0.9 2.4 1.0 1.7 0.9 1.0 0.9 Restructuring — 0.3 0.4 0.6 0.4 0.5 0.6 0.7 4.5 Other 3.9 3.5 4.0 4.5 4.3 4.4 4.4 4.2 4.0 Total Non-Interest Expense $ 77.4 $ 80.4 $ 73.6 $ 75.3 $ 71.0 $ 71.9 $ 77.3 $ 66.7 $ 69.9 Income Taxes 0.4 0.5 0.2 0.3 0.2 — 0.2 0.2 0.3 Total Expense incld. Taxes $ 77.8 $ 80.8 $ 73.8 $ 75.6 $ 71.2 $ 71.9 $ 77.5 $ 67.0 $ 70.2 Includes non-service employee benefitsNote: All information in US$millions as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data

Appendix Core Non-Interest Expense Trends 2018 2018 2017 2017 2016 2016 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Q4 Q4 Q3 Q3 Q2 Q2 Q1 Q1 Salaries & Benefits¹ $ 37.0 $ 42.2 $ 37.2 $ 37.1 $ 35.9 $ 34.0 $ 33.6 $ 31.5 $ 29.6 Technology & Comm. 14.6 14.3 13.1 13.3 12.8 14.4 14.2 13.8 13.9 Property 5.1 4.5 5.1 5.3 4.9 5.5 5.3 5.0 5.0 Professional & O/S Services 8.1 6.7 5.6 5.7 4.3 5.4 3.9 4.8 3.0 Indirect Taxes 4.9 4.7 4.6 4.5 4.3 3.9 3.9 2.8 4.6 Intangible Amortization 1.1 1.1 1.0 1.1 1.0 1.0 1.2 1.3 1.1 Marketing 0.9 1.5 0.9 2.4 1.0 1.7 0.9 1.0 0.9 Other 3.9 3.5 4.0 4.5 4.2 4.3 4.3 4.2 3.4 Total Core Non-Interest Expense $ 75.6 $ 78.5 $ 71.6 $ 73.9 $ 68.4 $ 70.2 $ 67.3 $ 64.4 $ 61.5 Income Taxes 0.4 0.5 0.2 0.3 0.2 — 0.2 0.2 0.3 Total Core Expense incld. Taxes $ 76.0 $ 78.9 $ 71.8 $ 74.2 $ 68.6 $ 70.2 $ 67.5 $ 64.6 $ 61.8 Includes non-service employee benefitsNote: All information in US$millions as of 31-Mar-2018 unless noted otherwise. Conversion rate: 1 BMD$ = 1 US$Source: Company data