#14Q22 Investor Presentation - Piper Sandler Atlanta Bank Tour March 13, 2023 U United UNITED COMMUNITY BANKS, INC.Ⓡ UNITED COMMUNITY BANK EQUAL HOUSING LENDER Member FDIC.2022 United Community Bank | ucbi.com UNIT#2Disclosures CAUTIONARY STATEMENT This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In general, forward-looking statements usually may be identified through use of words such as "may," "believe," "expect," "anticipate," "intend," "will," "should," "plan," "estimate," "predict," "continue" and "potential" or the negative of these terms or other comparable terminology, and include statements related to the expected returns and other benefits of the merger (the "merger") with Progress Financial Corporation ("Progress"), expected improvement in operating efficiency resulting from the merger, estimated expense reductions resulting from the transaction and the timing of achievement of such reductions, the impact on and timing of the recovery of the impact on tangible book value, and the effect of the merger on United's capital ratios. Forward-looking statements are not historical facts and represent management's beliefs, based upon information available at the time the statements are made, with regard to the matters addressed; they are not guarantees of future performance. Actual results may prove to be materially different from the results expressed or implied by the forward-looking statements. Forward-looking statements are subject to numerous assumptions, risks and uncertainties that change over time and could cause actual results or financial condition to differ materially from those expressed in or implied by such statements. Factors that could cause or contribute to such differences include, but are not limited to (1) the risk that the cost savings from the merger may not be realized or take longer than anticipated to be realized, (2) disruption from the merger with customer, supplier, employee or other business partner relationships, (3) the possibility that the costs, fees, expenses and charges related to the merger may be greater than anticipated, (4) reputational risk and the reaction of the companies' customers, suppliers, employees or other business partners to the merger, (5) the risks relating to the integration of Progress' operations into the operations of United, including the risk that such integration will be materially delayed or will be more costly or difficult than expected, (6) the risk of potential litigation or regulatory action related to mergers, (7) the risks associated with United's pursuit of future acquisitions, (8) the risk of expansion into new geographic or product markets, (9) the dilution caused by United's issuance of additional shares of its common stock in mergers, and (10) general competitive, economic, political and market conditions. Further information regarding additional factors which could affect the forward-looking statements can be found in the cautionary language included under the headings "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in United's Annual Report on Form 10-K for the year ended December 31, 2021, and other documents subsequently filed by United with the SEC. Many of these factors are beyond United's ability to control or predict. If one or more events related to these or other risks or uncertainties materialize, or if the underlying assumptions prove to be incorrect, actual results may differ materially from the forward-looking statements. Accordingly, shareholders and investors should not place undue reliance on any such forward-looking statements. Any forward-looking statement speaks only as of the date of this communication, and United undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. New risks and uncertainties may emerge from time to time, and it is not possible for United to predict their occurrence or how they will affect United. United qualifies all forward-looking statements by these cautionary statements. 2 U UNITED#3Disclosures NON-GAAP MEASURES This Investor Presentation includes financial information determined by methods other than in accordance with generally accepted accounting principles ("GAAP"). This financial information includes certain operating performance measures, which exclude merger-related and other charges that are not considered part of recurring operations. Such measures include: "Earnings per share - operating," "Diluted earnings per share - operating," "Tangible book value per share," "Return on common equity - operating," "Return on tangible common equity - operating," "Return on assets - operating," "Return on assets - pre-tax pre-provision, excluding merger-related and other charges," "Efficiency ratio - operating," "Expenses - operating," and "Tangible common equity to tangible assets." Management has included these non-GAAP measures because it believes these measures may provide useful supplemental information for evaluating United's underlying performance trends. Further, management uses these measures in managing and evaluating United's business and intends to refer to them in discussions about our operations and performance. Operating performance measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. To the extent applicable, reconciliations of these non-GAAP measures to the most directly comparable GAAP measures can be found in the 'Non-GAAP Reconciliation Tables' included in the exhibits to this Presentation. 3 U UNITED#4United Community Banks, Inc. Committed to Service Since 1950 COLUMBIA BRMINGHAM AL MONTGOMERY TALLAHASSEE JACKSONVILLE UCBI Banking Offices CHARLOTTE Regional Full Service Branch Network National Navitas and SBA Markets Company Overview $24.0 BILLION IN TOTAL ASSETS $15.3 BILLION IN TOTAL LOANS $4.3 BILLION IN AUA $19.9 BILLION IN TOTAL DEPOSITS 12.8% TIER 1 1 RBC 100 BEST BANKS IN AMERICA in 2022 for the ninth consecutive year - Forbes Premier Southeast Regional Bank ✓ Metro-focused branch network with locations in the fastest-growing MSAs in the Southeast ✓ 198 branches, 8 LPOs, and 6 MLOs across six Southeast states ✓ Top 10 market share in GA and SC ✓ Proven ability to integrate - 13 acquisitions completed over the past 10 years Extended Navitas and SBA Markets Offered nationwide SBA business has both in-footprint and national business (4 specific verticals) Navitas subsidiary is a technology-enabled small-ticket, essential-use commercial equipment finance provider Note: See glossary located at the end of this presentation for reference on certain acronyms $0.22 QUARTERLY DIVIDEND - UP 10% YOY 206 BANKING OFFICES ACROSS THE SOUTHEAST #1 IN CUSTOMER SATISFACTION in 2022 with Retail Banking in the Southeast - J.D. Power #2 Highest Net Promoter Score among all banks nationwide in 2021 J.D. Power TOP 10 WORLD'S BEST BANKS and #3 in the United States - Forbes BEST BANKS TO WORK FOR in 2022 for the sixth consecutive year - American Banker 4#5$0.74 Diluted earnings per share - GAAP $0.75 Diluted earnings per share - operating (1) 10.86% Return on common equity - GAAP 15.2% Return on tangible common equity - operating (1) 1.33% Return on average assets - GAAP 12% Annualized 4Q EOP loan growth 1.35% Return on average assets ― operating (1) 48.0% Efficiency ratio GAAP 4Q22 Highlights Diluted Earnings Per Share Return on Average Assets $0.74 $0.75 $0.64 $0.74 $0.75 1.32% 1.34% 1.33% 1.35% $0.55 1.10% 0.96% 4Q21 3Q22 4Q22 (1) 4Q21 3Q22 4Q22 (1) GAAP Operating GAAP Operating 47.4% Book Value Per Share PTPP Return on Average Assets $24.38 Efficiency ratio - operating (1) $23.63 $23.78 2.07%2.09% 1.94% 1.97% $18.42 1.40% $17.13 $16.52 1.21% 2.09% PTPP return on average assets - operating (1) 77% Loan-to-Deposit ratio 4Q21 3Q22 4Q22 4Q21 3Q22 (1) Tangible 4Q22 (1) PTPP Operating PTPP 0.49% Cost of deposits 38% DDA / Total Deposits Other 4Q notable items: $3.6mm (pre-tax) gain on equity investment marks $1.8mm (after-tax) tax loss on BOLI surrender GAAP (1) See non-GAAP reconciliation table slides in the Appendix for a reconciliation of operating performance measures to GAAP performance LO 5 U UNITED#6Long-Term Financial Performance & Shareholder Return 1.51% 1.40% 1.46% 1.35% 1.07% 1.04% (1)(2) ROA 1.42% 1.34% 1.35% 15.69% 15.81% 1.37% 1.17% 1.32% 1.33% 0.89% 1.08% 다 11.60% 11.89% 12.24% (1)(2) ROTCE 17.33% 15.60% 15.20% 14.20% ㅁ 11.00% 13.14% 11.02% 10.86% 0.78% 9.25% 9.31% 6.80% 2018 2019 2020 2021 1Q22 2Q22 3Q22 4Q22 2018 2019 2020 2021 1Q22 2Q22 3Q22 4Q22 ―UCBI - GAAP - UCBI - Operating KRX Peer Median --UCBI - GAAP ROE - UCBI - Operating KRX Peer Median Total Shareholder Return $ Performance for the period ended January 13, 2023 United Community Banks, Inc. KBW Nasdaq Regional Bank Index (KRX) 1-YEAR -7% -13% 3-YEAR 28% 16% 5-YEAR 29% 12% 10-YEAR 328% 142% $427 UCBI Outperformance 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 (1) See non-GAAP reconciliation table slides in the Appendix for a reconciliation of operating performance measures to GAAP performance (2) UCBI 1Q22 includes the impact of the $18.3 million initial provision to establish the reserve for Reliant loans and unfunded commitments, which reduced ROA - Operating by 24 bps and reduced ROTCE - Operating by 289 bps $243 6 U UNITED#7Progress Financial Corporation Merger Update Florence Tuscaloosa Daphne Decatur Huntsville Birmingham United Community Banks, Inc. (184) Progress Financial Corporation (14) Alabama Destin Panama City Business Update ✓ Closed acquisition on January 3, 2023 ✓ Progress is headquartered in Huntsville, Alabama and has 14 branches in some of the Southeast's fastest growing markets in Alabama and the Florida Panhandle ✓ As of September 30, 2022, Progress had $1.4 billion in loans and $1.5 billion in deposits ✓ Progress CEO David Nast will continue to lead the markets as United's State President for Alabama and the Florida Panhandle ✓ Operational conversion is scheduled for early 2Q23 ✓ Return metrics are expected to be within United's target ranges 7 U UNITED#8UCBI Market % of UCBI '22 Total Proj. Pop. Rank (3) Deposits (3) Growth % Proj. HHI. Growth % Deposits ($M) Footprint Focused on High-Growth MSAs in Southeast Fastest Growing Major Southeast MSAS (1) '22-'27 '22-'27 UCBI '22-'27 '22-'27 '22 Total Deposits ($M) Fastest Growing Mid- Size Southeast MSAs (2) Market Rank (3) UCBI (%) of Total Deposits (3) Proj. Pop. Growth % 1) Nashville, TN 10 9.48% 6.10% 13.89% 1) Daphne, AL 25 0.00% 7.80% Proj. HHI. Growth % 8.43% 6,472 89,155 2) Huntsville, AL 7 3.06% 7.14% 12.58% 11,473 2) Orlando, FL 13 4.13% 5.64% 13.81% 73,009 3) Myrtle Beach, SC 13 1.86% 6.42% 12.41% 12,128 4) Cape Coral, FL 6.08% 12.09% 20,858 3) Atlanta, GA 9 20.38% 5.38% 11.85% 235,389 5) Winter Haven, FL 5.80% 9.68% 10,057 6) Naples, FL 29 0.05% 5.71% 13.34% 23,081 4) Raleigh, NC 12 3.44% 5.14% 12.32% 38,965 7) Gainesville, GA 4 2.89% 5.65% 17.85% 5,801 5) Jacksonville, FL 21 0.38% 4.82% 8) Sarasota, FL 29 0.35% 5.56% 13.91% 15.84% 28,517 97,625 6) Tampa, FL 37 0.40% 4.79% 12.06% 115,930 9) Destin, FL 10) Clarksville, TN-KY 11) Fayetteville, AR 15 0.69% 5.34% 12.21% 7,826 7 1.95% 5.26% 9.60% 5,304 -- 5.18% 8.73% 15,690 7) Charlotte, NC 13 2.86% 4.47% 12.74% 315,760 12) Charleston, SC 13) Hilton Head, SC 14 1.15% 5.09% 15.11% 20,394 15 0.21% 5.08% 13.36% 6,181 8) Richmond, VA -- -- 4.46% 10.22% 127,383 14) Port St. Lucie, FL 15 0.11% 4.98% 14.54% 12,332 9) Birmingham, AL 21 1.15% 4.25% 10.99% 54,793 15) Tuscaloosa, AL 25 0.00% 4.85% 10.56% 5,299 16) Athens, GA 9 1.05% 4.76% 11.34% 6,049 10) Washington DC 4.05% 8.89% 358,351 17) Knoxville, TN 10 2.83% 4.70% 10.92% 23,854 18) Daytona Beach, FL 4.67% 13.62% 14,104 11) Miami, FL 51 1.48% 3.97% 13.84% 324,607 19) Savannah, GA 8 1.09% 20) Spartanburg, SC 7 1.22% 4.57% 4.47% 8.56% 12.48% 9,313 6,019 United MSA Presence ☐ Progress MSA Presence Projected Population Growth (2) (2022-2027) 4.9% 3.2% Projected Household Income Growth (2) (2022-2027) 11.9% 12.1% U United UNITED Community Bank. National Avg. U United UNITED Community Bank National Avg. (1) Includes MSAs with a population of greater than 1,000,000 (2) Includes MSAs with a population between 200,000 and 1,000,000 (3) Market Rank and (%) of Total Deposits pro forma for pending acquisition of Progress Financial Corporation 8 U UNITED#9Outstanding Deposit Franchise 4Q22 Total Deposits $19.9 billion Savings 8% 23% MMDA Time 9% 22% NOW 38% Cost of Deposits Trend DDA 0.31% 0.49% ✓ Favorable core deposit mix and deposit costs below peers ✓ Cost of deposits increased to 0.49%; up 30 bps from 3Q22 ✓ 4Q22 deposit beta of 21% ✓ 12.0% cumulative deposit beta since 4Q21 ✓ Historical 4Q15 - 2Q19 deposit beta equal to 24% ✓ Total deposits were down $444 million in 4Q22, or 9% annualized from 3Q22; up $1.6 billion or 9% from 4Q21 ✓ Customer deposits have increased over $300 million in 1Q23 as of March 10, 2023 0.19% 0.17% 0.14% ㅁ 0.09% 0.07% 0.08% 4Q20 1Q21 0.06% 0.06% 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 --UCBI KRX Peer Median Note: Core transaction accounts include demand deposits, interest-bearing demand, money market and savings accounts, excluding public funds deposits 9 U UNITED#10Deposit Trends Balance ($ in millions) 3Q22 4Q22 Avg Cust. Balance Avg Cust. Balance ($ in millions) Balance Business DDA $5,310 $60,184 $4,778 $54,028 Business All Other $2,371 $186,344 $2,281 $178,636 PersonalDDA $3,912 $12,129 $3,771 $11,629 Personal All Other $6,380 $32,723 $6,437 $33,094 Public $2,129 $729,473 $2,440 $848,230 Brokered & Other $220 N/A $169 N/A Total $20,321 $32,704 $19,877 $31,911 • Business deposits decreased $622 million from 3Q22, primarily due to a $532 million decrease in Business DDA deposits The Business DDA outflow was driven by a combination of asset purchases, owner distributions, tax payments and movement into higher yielding accounts, both inside and outside of the bank ✓ Personal deposits decreased $84 million from 3Q22, primarily due to a $141 million decrease in Personal DDA deposits • The Personal DDA outflow was primarily a result of individuals seeking higher rates for their excess liquidity, with more than half that moved into higher yielding accounts at United 10 U UNITED#11Well-Diversified Loan Portfolio $ in billions Residential 4Q22 Total Loans $15.3 billion Residential Construction Manufactured Housing 2% Home Equity 3% 6% Mortgage 15% Other Consumer 1% 42% C&I Quarter Highlights ✓ Loans increased $453 million, or 12% annualized ✓ Construction & CRE ratio as a percentage of total RBC = 79% / 199% ✓ Top 25 relationships totaled $774 million, or 5.0% of total loans ✓ SNCs outstanding of $331 million, or 2.2% of total loans ✓ Project lending limit of $32 million ✓ Conservative relationship lending limits driven by risk grades CRE 21% 10% Equipment Financing $1.4 Commercial Construction Owner Occupied CRE $2.7 Commercial & Industrial $2.3 11 U UNITED#12Balance Sheet Strength - Liquidity and Capital Loans / Deposits % 82% ☐ 77% ☐ 70% 73% 70% 68% 66% 64% 2Q21 3Q21 4Q21 1Q22 --UCBI 2Q22 KRX Peer Median 3Q22 4Q22 ✓ Substantial balance sheet liquidity and above-peer capital ratios. ✓ $6.2 billion securities portfolio offers significant near- and medium-term cash flow opportunities ✓ Deposits funding 95% of total funding liabilities Tangible Common Equity / Tangible Assets % 8.7% 8.5% 8.1% 7.9% 7.7% 7.7% ㅁ 7.6% 6.8% Common Equity Tier 1 RBC %* 12.6% 12.6% ㅁ 12.5% 12.3% 12.1% 12.0% 11.9% 11.2% 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22* --UCBI KRX Peer Median --UCBI KRX Peer Median *4Q22 regulatory capital ratios are preliminary 12 U UNITED#13Capital Risk-Based Capital Ratios* CET1 Non-common Tier 1 Tier 2 14.9% 14.7% 14.3% 14.5% 14.6% 14.8% 13.6% 1.6% 0.8% 1.5% 1.9% 1.9% 1.9% 0.7% 0.6% 0.6% 0.6% 1.9% 0.6% 2.0% 0.6% 12.6% 12.5% 11.9% 12.0% 12.1% 12.3% 11.2% 3Q21 4Q21 1Q22 2Q22 3Q22 3Q22 KRX Peer Median 4Q22* Tangible Book Value Per Share $0.77 $0.07 $0.02 ($0.01) ($0.24) $17.13 $16.52 3Q22 TBV Operating Earnings Merger Charges Dividends Change in OCI Other 4Q22 TBV *4Q22 regulatory capital ratios are preliminary ✓ 4Q22 capital ratios increased and are above peers ✓ The leverage ratio increased 28 bps to 9.69%, as compared to 3Q22 ✓ Progress acquisition closed in 1Q23 and will reduce risk-based ratios approximately 45 bps to 55 bps on a stand-alone basis ✓ Quarterly dividend of $0.22 per share, an increase of 10% YOY ✓ There were no share repurchases during 4Q22 ✓ Net unrealized securities losses in AOCI improved by $3.3 million to $342 million in 4Q22 • AFS securities portfolio of $3.6 billion with a 3.5-year duration 13 U UNITED#14Net Interest Revenue / Margin $ in millions Net Interest Revenue & Net Interest Margin $209.9 $199.8 3.57% 3.76% $137.6 3.74% 3.53% 2.81% 2.66% 4Q21 I Net Interest Revenue 3Q22 Net Interest Margin (1) 4Q22 (2) Core Net Interest Margin 0.01% 3.57% 4Q22 NIM Expansion 0.20% (1) Net interest revenue increased $10.1 million from 3Q22, or 20% annualized Net interest margin increased 19 bps from 3Q22, primarily driven by increased interest rates Core net interest margin of 3.74%, which excluded purchased loan accretion Purchased loan accretion totaled $1.3 million and contributed 2 bps to the margin, down 2 bps from 3Q22 Approximately $5.3 billion or 35% of total loans are floating rate with another $1.9 billion that will adjust beyond one year 25% of securities were variable rate, of which 19% is floating or reprices within one year Yields & Costs 5.22% (0.02%) 3.76% 4.71% 4.33% 4.18% 4.18% 다 3.76% 3.57% 3.19% ㅁ 2.97% 2.81% □ 2.44% 2.15% 1.81% 1.46% 1.55% □ 0.96% 0.44% 0.22% 0.22% 0.26% ㅁ □ 4Q21 1Q22 2Q22 3Q22 4Q22 3Q22 NIM Mix Change Higher Interest Loan Accretion 4Q22 NIM -Loan Yield -NIM -Securities Yield -Cost of IBL Rates (1) Net interest margin is calculated on a fully-taxable equivalent basis (2) Core net interest margin excludes PPP fees and purchased loan accretion 14 U UNITED#15Noninterest Income $ in millions Linked Quarter ✓ Fees were up $1.5 million . . $39.0 $37.2 $3.2 $3.8 $33.5 $33.4 $31.9 $1.5 $3.8 $2.2 $3.1 $10.9 $16.1 $7.0 $6.3 $5.8 • $5.9 $6.1 $6.0 $5.9 $13.5 $6.7 $7.9 $7.8 $4.7 $8.6 $9.1 $10.0 $9.6 $9.5 4Q21 1Q22 2Q22 3Q22 4Q22 Other Mortgage Service Charges Brokerage / Wealth Mgmt Loan sale gains • • Notable items include: Positive equity valuation marks of $3.6 million $184,000 of securities losses A $3.2 million decline in mortgage fees driven by the absence of last quarter's $2.4 million MSR write-up and a decline in locked volume of $92 million, or 20% from 3Q22 MSR write-down of $239,000 in 4Q22 We opted to sell fewer SBA/USDA loans and took $982,000 in 4Q gains on $16.9 million loans sold compared to $1.5 million in gains on $20.4 million loans sold in 3Q22 SBA / USDA loan originations increased $11.4 million to $46.8 million Gain on sale of equipment finance loans was $522,000 on $24.3 million of loan sales compared to $693,000 in gains on $21.6 million of loan sales in 3Q22 Year-over-Year ✓ Fees were down $3.8 million . Mortgage rate locks of $364 million in 4Q22 compared to $695 million in 4Q21 15 U UNITED#16Disciplined Expense Management 62.1% Efficiency Ratio % 57.4% 56.6% 56.5% 52.04% 53.1% 53.2% 48.4% 48.0% 47.7% 47.4% ✓ The efficiency ratio improved compared to last quarter due to continuing strong growth in Net Interest Income ✓ Year over year comparisons are also positively impacted due to merger-related cost savings 4Q21 1Q22 2Q22 3Q22 KRX Peer Median GAAP --Operating Noninterest Expense $ 4Q22 $ in millions $119.3 $120.8 $109.2 $110.3 $113.6 $112.8 $111.0 $117.3 $115.9 $99.2 4Q21 1Q22 2Q22 3Q22 4Q22 GAAP Operating ✓ Total operating expenses increased by $4.9 million quarter over quarter; notable items include: ✓ $939,000 in salaries driven by mid-year inflation driven increases ✓ $1.1 million in lower deferred costs from lower mortgage volume ✓ $700,000 in increased FDIC expenses, as assessment rates are increasing industry-wide 16 U UNITED#17Credit Quality Net Charge-Offs as % of Average Loans 0.08% 0.01% -0.03% 0.03% 0.17% 4Q21 1Q22 2Q22 3Q22 4Q22 Non-Performing Assets as a % of Total Loans ☐ 0.28% 0.29% 0.29% 0.23% 0.24% ކ • 4Q22 net charge-offs of $6.6 million, or 0.17% of average loans, annualized Navitas 4Q22 NCOs of 0.50%, annualized, or $1.7 million Non-performing assets increased $8.8 million during the quarter and were 0.29% of total loans, an increase of 5 bps quarter over quarter and essentially flat year over year Special mention loans improved from $312 million in 3Q22 to $247 million in 4Q22 Higher risk loans, defined as special mention plus substandard accruing, declined slightly quarter over quarter and were down from 4% of loans in 4Q21 to 2.9% of loan in 4Q22 Special Mention & Substandard Accruing Loans as a % of Total Loans 2.6% 2.1% 2.1% 2.0% 1.6% 1.4% 1.3% 1.2% 1.2% 1.1% 4Q21 1Q22 2Q22 3Q22 4Q22 4Q21 1Q22 --Special Mention (%) 2Q22 3Q22 4Q22 Substandard Accruing (%) 17 U UNITED#18($000) Allowance for Credit Losses Allowance for Credit Losses (ACL) Walk-Forward $6,996 $167,300 ($6,611) ($20) $12,855 $180,520 3Q22 ACL Loan Growth NCOs Specific Reserve Model / Forecast Changes 4Q22 ACL Allowance for Credit Losses (ACL) 1.18% 1.12% 0.97% 1.02% 1.05% $181 $167 $146 $153 $114 4Q21 1Q22 ACL - Allowance for Credit Losses $ 2Q22 Note: ACL includes the reserve for unfunded commitments 3Q22 4Q22 ACL - Allowance for Credit Losses % ✓ The provision for credit losses was $19.8 million in 4Q22 ✓ Loan growth accounted for $7.0 million of the provision increase ✓ A weakening Moody's economic forecast drove $12.9 million in reserve build for the quarter ✓ Reserve levels continue to strengthen to 1.18% of loans from 0.97% in 4Q21 18 U UNITED#194Q22 INVESTOR PRESENTATION Exhibits EQUAL HOUSING LENDER U United UNITED Community Bank R Member FDIC.2022 United Community Bank | ucbi.com#20Interest Rate Sensitivity Net Interest Income Sensitivity 0.89% +25 bps 6.97% 3.53% 4.33% 2.85% +100 bps +200 bps % Change - Ramps --% Change - Shocks Loan Repricing Characteristics 14% 12% 4% 14% 3% 53% ✓ 2.85% asset sensitivity in +100 bp ramp; down from 3.60% asset sensitivity in 3Q22 ✓ One 25 bp Fed rate hike is worth approximately 3.6 bps to net interest margin ✓ Other relevant data points Approximately $5.3 billion or 35% of total loans are floating rate; another $1.9 billion will adjust after one year Cumulative Betas 4Q21 2Q22 3Q22 4Q22 Average Fed Funds Rate 0.07% 0.76% 2.20% 3.65% Securities 51% 32% 27% Loans 22% 25% 29% Deposits 3% 6% 12% Fixed BSBY Libor Prime SOFR Adjustable 20 U UNITED#21Navitas Performance $ in millions Navitas Portfolio 9.19% 9.12% 9.08% 9.08% 9.01% 8.89% 8.85% 8.80% 8.79% 8.88% ✓ Navitas represents 9% of total loans ✓ Navitas 4Q22 NCOs of 0.50%, or $1.7 million Navitas ACL / Loans of 1.70% ✓ After six quarters of lower than normal losses, NCOs have begun to normalize towards historical levels ✓ $1,374 $1,211 $1,281 $823 $864 $913 $969 $1,017 $1,148 $1,083 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Navitas Loans $ Portfolio Yield % 0.83% 0.72% 0.70% Net Charge-Offs 0.50% 0.36% 0.31% تشتيتية 0.10% 0.29% 0.13% 0.21% 2019 2020 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 21 U UNITED#22Mortgage Activity Shift to Purchase & Adj. Rate Loans $ in millions Mortgage Locks & Sales $757 $695 3.9% 3.6% 3.7% 3.1% $597 2.7% $456 $364 $285 $207 $160 $93 4Q21 2Q22 3Q22 4Q22 Mortgage locks $ Loans sold $ --Gain on sale % 1Q22 Purchase vs. Refinance 73% 71% 65% 66% 62% $68 ✓ Gain on sale % decreased in 4Q22 driven by a continued rise in rates driving increased price competition ✓ Rate locks were $364 million compared to $456 million in 3Q22 ✓ Purchase / Refi mix shifted slightly from 65% / 35% in 4Q21 to 62% / 38% in 4Q22 ✓ 68% of locked loans were variable rate mortgages in 4Q22, up from 57% in 3Q22 ✓ Sold $68 million loans in 4Q22, down $25 million from $93 million sold in 3Q22 38% 35% 34% 29% 27% 4Q21 1Q22 2Q22 Purchase Refinance 3Q22 4Q22 22 U UNITED#23Selected Segments - Senior Care $ in millions $535 $537 $549 $520 $518 $511 $465 $442 $408 $170 $170 $169 $172 $144 $135 $111 $124 $100 $46 $48 $64 $73 $73 $66 $59 $58 $77 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 Substandard Accruing $ Special Mention $ Pass $ ✓ Senior Care lending team are dedicated specialists with significant experience in the space ✓ Senior Care portfolio outstanding totaled $408 million as of 4Q22, or 2.7% of total loans ✓ As of December 31, $2.2 million of Senior Care loans were nonaccruing ✓ As of December 31, $111 million of Senior Care loans were special mention and $77 million were substandard accruing 23 U UNITED#24Non-GAAP Reconciliation Tables $ in thousands, except per share data Expenses Expenses GAAP Merger-related and other charges Expenses Operating Diluted Earnings per share Diluted earnings per share - GAAP Merger-related and other charges Diluted earnings per share - Operating Book Value per share 4Q21 1Q22 2Q22 3Q22 4Q22 $ 109,156 (9,912) $ 119,275 (9,016) $ 120,790 (7,143) $ 99,244 $ 110,259 $ 113,647 $ 112,755 (1,746) $ 117,329 $ 111,009 (1,470) $ 115,859 $ 0.55 $ 0.43 $ 0.61 $ 0.74 $ 0.74 0.09 0.07 0.05 0.01 0.01 0.64 0.50 0.66 0.75 0.75 Book Value per share - GAAP $ 23.63 $ 24.38 $ 23.96 $ 23.78 $ 24.38 Effect of goodwill and other intangibles (5.21) (7.30) (7.28) (7.26) (7.25) Tangible book value per share $ 18.42 $ 17.08 $ 16.68 $ 16.52 $ 17.13 Return on Tangible Common Equity Return on common equity - GAAP 9.32 % 6.80 % 9.31 % 11.02 % 10.86 % Effect of merger-related and other charges 1.42 1.03 0.79 0.19 0.15 Return on common equity - Operating 10.74 7.83 10.10 11.21 11.01 Effect of goodwill and intangibles 3.19 3.17 Return on tangible common equity - Operating 13.93 % 11.00 % 4.10 14.20 % 4.39 15.60 % 4.19 15.20 % Return on Assets Return on assets - GAAP Merger-related and other charges Return on assets - Operating 0.96 % 0.14 1.10 % 0.78 % 0.11 0.89 % 1.08 % 0.09 1.17 % 1.32 % 0.02 1.34 % 1.33 % 0.02 1.35 % 24 U UNITED#25Non-GAAP Reconciliation Tables $ in thousands, except per share data 4Q21 1Q22 2Q22 3Q22 4Q22 Return on Assets to return on assets- pre-tax pre-provision Return on assets GAAP 0.96 % 0.78 % 1.08 % 1.32 % 1.33 % Income tax expense 0.26 0.20 0.32 0.37 0.41 (Release of) provision for credit losses (0.01) 0.39 0.09 0.25 0.33 Return on assets - pre-tax, pre-provision 1.21 1.37 1.49 1.94 2.07 Merger-related and other charges 0.19 0.15 0.11 0.03 0.02 Return on assets - pre-tax, pre-provision, excluding merger-related and other charges 1.40 % 1.52 % 1.60 % 1.97 % 2.09 % Efficiency Ratio Efficiency Ratio - GAAP Merger-related and other charges Efficiency Ratio - Operating, excluding PPP fees and MSR marks 62.12 % 57.43 % 56.58 % 48.41 % 47.95 % (5.64) (4.34) (3.35) (0.75) (0.60) 56.48 % 53.09 % 53.23 % 47.66 % 47.35 % Tangible common equity to tangible assets Equity to assets ratio - GAAP Effect of goodwill and other intangibles Effect of preferred equity Tangible common equity to tangible assets ratio 10.61 % 11.06 % 10.95 % 11.12 % 11.25 % (2.06) (2.94) (2.96) (3.01) (2.97) (0.46) (0.40) (0.40) (0.41) (0.40) 8.09 % 7.72 % 7.59 % 7.70 % 7.88 % 25 U UNITED#26Glossary ACL- - Allowance for Credit Losses ALLL - Allowance for Loan Losses AUA Assets Under Administration 1 BPS Basis Points C&I Commercial and Industrial C&D Construction and Development CECL - Current Expected Credit Losses CET1 - Common Equity Tier 1 Capital CRE Commercial Real Estate - - Customer Service Profiles CSP DDA Demand Deposit Account EOP - End of Period EPS Earnings Per Share FTE - Fully-taxable equivalent GAAP - Accounting Principles Generally Accepted in the USA KRX-KBW Nasdaq Regional Banking Index LPO Loan Production Office MLO Mortgage Loan Officer MTM - Marked-to-market MSA Metropolitan Statistical Area MSR - Mortgage Servicing Rights Asset NCO Net Charge-Offs NIM Net Interest Margin NPA - Non-Performing Asset NSF Non-sufficient Funds - OO RE - Owner Occupied Commercial Real Estate PCD Loans Purchased with Credit Deterioration PPP-Paycheck Protection Program PTPP - Pre-Tax, Pre-Provision Earnings RBC Risk Based Capital - ROA - Return on Assets SBA United States Small Business Administration TCE Tangible Common Equity USDA - United States Department of Agriculture YOYYear over Year 26 26 U UNITED