1 Investor PresentationJuly 26, 2021 NASDAQ: FBMS

2 Forward Looking Statements This slide presentation and certain of our other filings with the Securities and Exchange Commission contain statements that constitute “forward-looking statements” within the meaning of, and subject to the protections of, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are forward-looking statements. Such statements can generally be identified by such words as “believes,” “anticipates,” “expects,” “may,” “will,” “assumes,” “should,” “predicts,” “could,” “would,” “intends,” “targets,” “estimates,” “projects,” “plans,” “potential” and other similar words and expressions of the future or otherwise regarding the outlook for the Company’s future business and financial performance and/or the performance of the banking industry and economy in general. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties which may cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are based on the information known to, and current beliefs and expectations of, the Company’s management and are subject to significant risks and uncertainties. Actual results may differ materially from those contemplated by such forward-looking statements. Factors that might cause such differences include, but are not limited to: (1) competitive pressures among financial institutions increasing significantly; (2) changes in economic or political conditions, either nationally or locally, particularly in areas in which the Company conducts operations; (3) interest rate risk; (4) changes in applicable laws, rules, or regulations, including changes to statutes, regulations or regulatory policies or practices as a result of, or in response to COVID-19; (5) risks related to the Company’s recently completed acquisitions, including that the anticipated benefits from the recently completed acquisitions are not realized in the time frame anticipated or at all as a result of changes in general economic and market conditions or other unexpected factors or events; (6) changes in management’s plans for the future; (7) credit risk associated with our lending activities; changes in interest rates, loan demand, real estate values, or competition; (8) changes in accounting principles, policies, or guidelines; (9) adverse results from current or future litigation, regulatory examinations or other legal and/or regulatory actions, including as a result of the Company’s participation in and execution of government programs related to the COVID-19 pandemic; (10) the impact of the COVID-19 pandemic on the Company’s assets, business, cash flows, financial condition, liquidity, prospects and results of operations; (11) potential increases in the provision for loan losses resulting from the COVID-19 pandemic; and (12) other general competitive, economic, political, and market factors, including those affecting our business, operations, pricing, products, or services. These and other factors that could cause results to differ materially from those described in the forward-looking statements, as well as a discussion of the risks and uncertainties that may affect our business, can be found in our Annual Report on Form 10-K and in other filings we make with the Securities and Exchange Commission, which are available on the SEC’s website, http://www.sec.gov. Undue reliance should not be placed on forward-looking statements. The Company disclaims any obligation to update such factors or to publicly announce the results of any revisions to any of the forward-looking statements included herein to reflect future events or developments. Statements about the potential effects of the COVID-19 pandemic on the Company’s assets, business, liquidity, financial condition, prospects, and results of operations may constitute forward-looking statements and are subject to the risks that the actual effects may differ, possibly materially, from what is reflected in these forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the depth, dispersion and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic on customers, employees, third parties and the Company.

3 Loan Portfolio Potential Increased Risk SectorsJune 30, 2021 SECTOR BOOK BALANCE AVAILABLE TOTAL COMMITTED % OF LOANS HOTELS $109.1 MILLION $27.7 MILLION $136.8 MILLION 4.5% RESTAURANTS $ 87.5 MILLION $ 4.1 MILLION $ 91.6 MILLION 3.0% RETAIL $173.1 MILLION $12.5 MILLION $185.6 MILLION 6.1% DIRECT ENERGY $ 15.7 MILLION $ 8.1 MILLION $ 23.8 MILLION 0.8% TOTAL $385.4 MILLION $52.4 MILLION $437.8 MILLION 14.4%

4 Loan Portfolio Risk Sectors DetailJune 30, 2021 SECTOR TOTAL COMMITTED % OF LOANS LTV % HOTELS $136.8 MILLION 4.5% 54.6% FLAGGED $87.9 MILLION NON-FLAGGED $48.9 MILLION RESTAURANTS $ 91.6 MILLION 3.0% 61.2% CHAIN $58.3 MILLION NON-CHAIN $29.3 MILLION CONSTRUCTION $ 4.0 MILLION RETAIL $185.6 MILLION 6.1% 50.7% CONSTRUCTION $ 16.2 MILLION NON-OWNER OCCUPIED $ 44.2 MILLION RETAIL STRIP W/ ANCHOR $32.5 MILLION RETAIL STRIP NO ANCHOR $92.7 MILLION

5 Loan Portfolio Risk Sectors by StateJune 30, 2021 SECTOR TOTAL COMMITTED % OF LOANS LTV % HOTELS $136.8 MILLION 4.5% 54.6% MISSISSIPPI $30.2 MILLION 55.2% LOUISIANA $46.7 MILLION 45.5% ALABAMA $13.1 MILLION 45.0% FLORIDA $30.4 MILLION 70.3% GEORGIA $16.4 MILLION 57.2% RESTAURANTS $ 91.6 MILLION 3.0% 61.2% MISSISSIPPI $17.0 MILLION 84.4% LOUISIANA $36.6 MILLION 58.6% ALABAMA $10.4 MILLION 58.3% FLORIDA $25.1 MILLION 64.6% GEORGIA $ 2.5 MILLION 49.2%

6 Risk Sectors by State ContinuedJune 30, 2021 SECTOR TOTAL COMMITTED % OF LOANS LTV % RETAIL $185.6 MILLION 6.1% 50.7% MISSISSIPPI $46.8 MILLION 54.7% LOUISIANA $43.7 MILLION 48.0% ALABAMA $18.3 MILLION 43.1% FLORIDA $60.6 MILLION 52.8% GEORGIA $16.2 MILLION 53.6%

Modifications of $34.9 million or 1.2% of loan portfolio with $4.9 million on principal and interest deferral and $30.0 million on interest onlyEnhanced Risk Sectors with modifications as Of JUNE 30, 2021: 7 Loan Modifications Resulting from COVID-19 SECTOR TOTAL MODIFIED % OF SECTOR TOTAL HOTELS P & I Deferred $22.8 MILLION$ 0 Million 16.7% Interest Only $22.8 Million RESTAURANTS P & I Deferred $ 0 MILLION$ 0 Million 0% Interest Only $ 0 Million RETAIL P & I Deferred $ 0 MILLION$ 0 Million 0% Interest Only $ 0 Million TOTAL $22.8 MILLION

As of JUNE 30, 2021, we have 2,210 loans totaling $157.8 million with $46.8 million from round 1 and $111.0 million from round 2. the PPP loans have an average size of $71,000 BALANCE OF Net Fees - $7.1 million ppp loans made to Enhanced Risk sectors are detailed below: 9 Payroll Protection Program (PPP) HOTELS $ 3.7 MILLION RESTAURANTS $27.6 MILLION RETAIL $18.9 MILLION TOTAL $50.2 MILLION

10 LOAN RESERVES & NPAs LOAN BALANCES ALLL/CREDIT MARK ALLL/MARK TO LOANS TOTAL LOANS $3.037 BILLION $32.5 MILLION 1.07% JUNE 30, 2021 NON PERFORMING ASSETS BALANCES % OF LOANS + OREO LEGACY $24.5 MILLION 0.8% ACQUIRED $12.5 MILLION 0.4% TOTAL NON PERFORMING ASSETS $37.0 MILLION 1.2% RESERVES

solid capital 11 Balance Sheet Management JUNE 30, 2020 ESTIMATES The First, ANBA First Bancshares TOTAL SHAREHOLDER’S EQUITY $749.8 MILLION $660.1 MILLION COMMON EQUITY TIER 1 CAPITAL RATIO 16.6% 13.9% TIER 1 CAPITAL RATIO 16.6% 14.4% TOTAL RISK-BASED CAPITAL RATIO 17.6% 19.2% LEVERAGE RATIO 10.5% 9.0% TCE 8.9%

12 NASDAQ: FBMS