#1CNB FINANCIAL CORPORATION INVESTOR PRESENTATION NOVEMBER 2023 CNB BANK ERZEBANK FCBank A division of CNB Bank BankonBuffalo A DIVISION CNB BANK A DIVISION OF CHS BANK RIDGE VIEW Impressia BANK ACN Bank Bank A DIVISION OF ONS BANK#2CERTAIN IMPORTANT INFORMATION CAUTION REGARDING FORWARD LOOKING STATEMENTS This presentation includes 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, with respect to CNB's financial condition, liquidity, results of operations, future performance and business. These forward-looking statements are intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those that are not historical facts. Forward-looking statements include statements with respect to beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions that are subject to significant risks and uncertainties and are subject to change based on various factors (some of which are beyond CNB's control). Forward-looking statements often include the words "believes," "expects," "anticipates," "estimates," "forecasts," "intends," "plans," "targets," "potentially," "probably," "projects," "outlook" or similar expressions or future conditional verbs such as "may," "will," "should," "would" and "could." CNB's actual results may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Such known and unknown risks, uncertainties and other factors that could cause the actual results to differ materially from the statements, include, but are not limited to, (i) adverse changes or conditions in capital and financial markets, including actual or potential stresses in the banking industry; (ii) changes in the interest rate environment; (iii) the credit risks of lending activities, including our ability to estimate credit losses and the allowance for credit losses, as well as the effects of changes in the level of, and trends in, loan delinquencies and write-offs; (iv) effectiveness of our data security controls in the face of cyber attacks and any reputational risks following a cybersecurity incident; (v) the duration and scope of a pandemic, including the lingering impacts of the COVID-19 pandemic, and the local, national and global impact of a pandemic; (vi) changes in general business, industry or economic conditions or competition; (vii) changes in any applicable law, rule, regulation, policy, guideline or practice governing or affecting financial holding companies and their subsidiaries or with respect to tax or accounting principles or otherwise; (viii) higher than expected costs or other difficulties related to integration of combined or merged businesses; (ix) the effects of business combinations and other acquisition transactions, including the inability to realize our loan and investment portfolios; (x) changes in the quality or composition of our loan and investment portfolios; (xi) the adequacy of the allowance for credit losses, including estimations of reserves on both specific credits and portfolio segments; (xii) increased competition; (xiii) loss of certain key officers; (xiv) deposit attrition; (xv) rapidly changing technology; (xvi) unanticipated regulatory or judicial proceedings and liabilities and other costs; (xvii) changes in the cost of funds, demand for loan products or demand for financial services; and (xviii) other economic, competitive, governmental or technological factors affecting our operations, markets, products, services and prices. For more information about factors that could cause actual results to differ from those discussed in the forward-looking statements, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of and the forward-looking statement disclaimers in CNB's annual and quarterly reports filed with the SEC. The forward-looking statements contained herein are based upon management's beliefs and assumptions. Any forward-looking statement made herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. CNB undertakes no obligation to publicly update or revise any forward-looking statements included in this presentation, whether as a result of new information, future events or otherwise, except to the extent required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed might not occur and you should not put undue reliance on any forward-looking statements. NON-GAAP FINANCIAL MEASURES This report contains references to financial measures that are not defined in GAAP. Management uses non-GAAP financial information in its analysis of the Corporation's performance. Management believes that these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Corporation's management believes that investors may use these non- GAAP measures to analyze the Corporation's financial performance without the impact of unusual items or events that may obscure trends in the Corporation's underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. Limitations associated with non- GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that different companies might calculate these measures differently. Non-GAAP measures reflected within the presentation include: Tangible common equity/tangible assets, Return on average tangible common equity, Net interest margin (fully tax equivalent basis), Efficiency ratio (fully tax equivalent) and Tangible book value per share. FINANCIAL CORPORATION CNBINATION#3CNB FINANCIAL CORPORATION Holding Company for CNB Bank (Clearfield, ■ PA), serving the community since 1865 ■ ■ ■ ■ 51 full-service offices, 1 drive-through location, 1 mobile office and 2 loan production offices across Pennsylvania, New York, Ohio and Virginia CNB Bank's regional divisions (all under one charter) include CNB Bank (Central and North Central PA); FC Bank (Columbus & Central OH), ERIEBANK (Northeast OH & Northwest PA), BankOnBuffalo (Western NY), Ridge View Bank (Southwest, VA), and Impressia Bank, which operates across our entire footprint Nasdaq: CCNE & CCNEP Market Capitalization: ~$417 million (1) FINANCIAL HIGHLIGHTS (As of 9/30/23) ASSETS: $5.7 billion DEPOSITS: $5.0 billion LOANS: $4.5 billion 2023 YTD ROAA: 1.06% 2023 YTD ROATCE(2): 12.23% NPAS/ASSETS: 0.51% COLUMBUS, OH CLEVELAND, OH OH BANKONBUFFALO ERIEBANK GREATER BUFFALO, NY ERIE, PA NY CORPORATE HEADQUARTERS CNB BANK FC BANK RIDGE VIEW BANK (1) Based on 20,897,806 share count reported as of October 31, 2023 in September 30, 2023 Form 10-Q and the November 10, 2023 closing stock price ($19.94) (2) Return on average tangible common equity is a non-GAAP financial measure - see Appendix for reconciliation PA VA SOUTHWEST VA I CNB FINANCIAL CORPORATION 3#4INVESTMENT ACCRETION AND RETURNS TANGIBLE BOOK VALUE PER SHARE(1) $25.00 BV / Share ■TBV / Share $20.00 $15.00 +9.0% Tangible Book Value per Share CAGR 2013-2023YTD $11.43 $10.00 $9.23 RETURN ON AVERAGE TANGIBLE COMMON EQUITY (2) $23.52 $22.85 $22.39 18.00% $21.29 ■ROATCE $20.00 $20.22 $20.30 $21.40 ROAE $17.28 $15.98 $18.66 16.00% $14.01 $14.64 $17.45 $13.09 $14.69 $13.33 $11.96 $11.76 14.00% $10.97 $5.00 in 12.00% 10.00% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q3 EARNINGS PER COMMON SHARE (2) $3.50 $3.00 $2.50 +7.4% CAGR 2013-2023 YTD $2.63 $3.26 $3.16 $2.00 $1.60 $1.54 $1.57 $1.42 $1.50 $1.29 $1.00 $0.50 $- $2.21 $1.97 8.00% 6.00% $2.64 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 LTM 4.00% 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Q3 2008 The Great Recession (1) Return on average tangible common equity and tangible book value per share are non-GAAP financial measures - see Appendix for reconciliations; Average equity includes both common and preferred equity in periods following the 2020 preferred equity issuance (2) Earnings per share includes merger costs in 2019 and merger costs, FHLB prepayment penalties and branch closure costs in 2020. Note: "CAGR" means Compound Annual Growth Rate and "LTM" is defined as last twelve months. 2020 COVID-19 Pandemic CNB FINANCIAL CORPORATION 4#5UNIQUE MULTI-STATE, MULTI-BRAND MODEL FCBank A DIVISION OF CNB BANK ERJEBANK A division of CNB Bank Opened in August 2005 Ⓡ Comprised of two premium franchises Legacy market with 8 full-service offices serving Erie, Crawford & Warren counties in PA Growth market with 4 full-service offices serving Lake, Ashtabula, & Cuyahoga counties in OH, including the city of Cleveland Opened in 2013 with the acquisition of FC Banc Corp. in Bucyrus, OH 7 full-service offices serving focused on the greater-Columbus metro area and Central Ohio CNB BANK Legacy bank of the organization founded in 1865 19 full-service offices serving Clearfield, Centre, McKean, Elk, Jefferson, Cambria, Indiana and Blair counties in PA Central and North Central PA focus BankonBuffalo A DIVISION OF CNB BANK Opened in 2016 serving the Greater Buffalo market Currently 11 full-service offices, 1 loan production office, 1 mobile office and 1 drive through location Further expansion into Rochester market in 2022 with commercial lending and Wealth & Asset management RIDGE VIEW BANK A division of CNB Bank ■ Established in Q3 2021 ☐ ■ Currently 1 loan production office and 2 full-service offices Hired Carrie McConnell, a 20+ year veteran within the Southwest Virginia market, as Regional President Expect to have 6 to 8 locations within the next 5 years and become a meaningful contributor to overall growth 1865 WEALTH ADVISORS Rebranded in July 2022 of the legacy Wealth Management business with long- established roots and a history of excellence in performance Focus on a planning-based approach for families and commercial customers Seamless partnership with Private Banking in providing customers with a broad array of competitive solutions Impressia Bank A DIVISION OF CNB BANK Extending beyond traditional business banking offerings, clients will have access to resources related to accelerating their business, developing appropriate business strategies, and establishing a community of women who support one another Begin within the existing geographic footprint of each of CNB Bank's five other divisions, then strategically expand beyond those borders utilizing an online presence CNB FINANCIAL CORPORATION 5#6FRANCHISE MILESTONES County National Bank of Clearfield Established CNB FINANCIAL CORPORATION CNB Financial Corporation Joseph Bower Becomes CEO Holding Common Equity Company Organized Capital Raise of $34.5M 150th Anniversary Celebration Michael Peduzzi Becomes CEO of CNB Bank and CNB Financial Corp. in July and December 2022 Respectively Preferred Equity Capital Raise of $60.4M Acquisition of Bank of Akron $100M Common Equity Raise in September 2022 1865 1934 1984 2005 2010 2013 2015 2016 2020 2021 2022 2023 Reorganized Through a Stock Offering to Existing Depositors CNB BANK ERIEBANK Formed ERJEBANK® A division of CMB Bank Acquisition of FC Banc Corp. in Bucyrus, OH w/ Bank on Buffalo Is Formed Ridge View Bank Is Formed in Roanoke, VA $360M in Assets FCBank A DIVISION OF CNB BANK Acquisition of Lake National Bank $50M Sub Debt Raise $85M Sub Debt Raise Launched Women-Focused Bank Brand (Impressia Bank) Impressia Bank RIDGEVIEWBANK A DIVISION OF CNB BANK A DIVISION OF CNB BANK Bankon Buffalo A DIVISION OF CNE BANKI CNB FINANCIAL CORPORATION#72005 $ in Billions $5.0 $4.0 $7.0 $6.0 ASSET GROWTH AND KEY CAPITAL ACTIVITIES +12.0% Total Assets CAGR Since 2005 $4.7 $3.8 $3.2 $3.0 $2.8 $2.6 $2.1 $2.2 $2.3 $2.0 $1.8 $1.6 $1.4 $1.2 $1.0 $1.0 $0.8 $0.8 $0.9 ER EBANK ERIEBANK Formed 2010 $5.7 $5.5 $5.3 $0.0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023Q3 2013 Common Equity Capital Raise of $34.5M Acquisition of FC Banc Corp. in Bucyrus, OH Adding $360M in Assets FCBank Note: CAGR based on the period from December 31, 2005, through September 30, 2023 2016 2017 At-The-Market Capital Raise of $20.0M $50M Sub-Debt Raise Acquisition of Lake National Bank Bank on Buffalo Is Formed BankonBuffalo ANTS OF CA 2020 $85M Sub- Preferred Equity Capital Raise of $60.4M Acquisition of Bank of Akron 2021 Debt Raise Ridge View Bank Is Formed in Roanoke, VA RIDGEVIEW BANK CON OF CAN CNB 2022 Common Equity Capital Raise of $100.0M FINANCIAL CORPORATION#8WEALTH & ASSET MANAGEMENT FINANCIAL TRENDS ASSETS UNDER MANAGEMENT ("AUM") ($M) & REVENUE ($000) $1,600 AUM CAGR = 12.0% Revenue CAGR = 11.8% $8,400 $7,172 $7,283 $1,400 $6,740 $7,200 $5,497 $1,200 $4,627 $6,000 $1,000 $4,172 $4,800 $3,724 $800 AUM ($) $3,600 $600 $400 $742 $791 $1,070 $1,138 $1,273 $1,265 $1,423 $2,400 $200 $1,200 $0 $0 2017 2018 2019 2020 2021 2022 2023 LTM AUM ($M) Revenue ($000) Long-term growth and increased revenue based on leveraging expansion of footprint into higher growth markets As of September 30, 2023, AUM include approximately $266.4 million in on balance sheet money market deposits Continued investment in technology leads to superior client and advisor experience Provides diversification in CNB's revenue stream while supporting a broader spectrum of customer needs CNB FINANCIAL CORPORATION Revenue ($)#9CONSOLIDATED CAPITAL POSITION ACTUAL (9/30/23)(1)(2) 18% 16% PROFORMA AOCI IMPACT (9/30/23)(3) 18% 16% 15.68% 14% 12% 10% 11.21% 8.57% 8% 7.86% 6% 14% 13.80% 12% 10% 8.16% 8% 9.33% 6% 7.44% 4% 4% 2% 2% 0% 0% Common equity/Total assets ■Tangible common equity/Tangible assets ■Common equity / Total assets ■Common Equity Tier 1 Ratio ■Total Risk Based Capital Ratio ■Common Equity Tier 1 Ratio ■Tangible common equity / Tangible assets ■Total Risk Based Capital Ratio ■ Capital levels remain strong on an actual and proforma basis The Corporation repurchased 326,459 shares of common stock at a weighted average price of $20.08 per share, during the nine months ended September 30, 2023; remaining capacity under the current program was 173,541 shares / $8.4 million as of September 30, 2023 (1) The capital ratios as of September 30, 2023. (2) Tangible common equity / Tangible assets is a non-GAAP financial measure - see Appendix for reconciliation (3) Proforma adjustments include adjustments for pre-tax and after-tax unrealized losses on the available-for-sale and held-to-maturity securities portfolios as of September 30, 2023 CNB FINANCIAL CORPORATION 9#101992 1993 1994 1995 1996 ☐ Dividend yield of 3.87% as of September 30, 2023 ☐ Dividend payout ratio of 27% as of the nine months ended September 30, 2023 CNB FINANCIAL CORPORATION 10 $0.200 $0.100 $0.000 iil $0.300 $0.400 $0.500 $0.600 $0.700 $0.800 1997 1998 1999 The Corporation's long, uninterrupted history of dividends to its common shareholders reflects a key component of its Total Shareholder Return HISTORICAL DIVIDEND PER COMMON SHARE 2000 2001 2002 2003 2004 ■ Common Dividend DIVIDEND HISTORY 2005 2006 2007 2008 Special Dividend 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023LTM#11DEPOSIT MIX 9/30/23 DEPOSIT MIX SAVINGS 57.6% AVERAGE COST OF INTEREST-BEARING DEPOSITS 2.50% 2.00% 1.50% 1.26% TIME DEPOSITS 11.1% 1.00% 0.77% 0.52% 0.40% 0.50% DEMAND - INTEREST 15.6% DEMAND - NONINTEREST 15.7% 0.00% 2019 2020 Deposit Composition ($000) 2019Y 2020Y 2021Y 2022Y 2023Q3 CAGR (1) ☐ - Demand Noninterest Bearing $382,259 $627,114 $792,086 $898,437 $782,996 21.1% Demand Interest Bearing 628,579 951,903 1,079,336 1,007,202 781,309 6.0% Savings 1,663,673 2,126,183 2,457,745 2,270,337 2,883,736 15.8% Time Deposits 427,816 476,544 386,452 446,461 554,740 7.2% Total Deposits $3,102,327 $4,181,744 $4,715,619 $4,622,437 $5,002,781 13.6% (1) December 31, 2019 through September 30, 2023 2.27% 2021 2022 2023YTD HIGHLIGHTS Long-term growth in deposits driven primarily by growth in checking and savings account relationships Approximately 21.1% CAGR from December 31, 2019, in Non-Int. Deposits Demand deposits strengthened by C&I and Treasury Management customer relationships Time deposits represented 11.1% of total deposits as of September 30, 2023 Brokered deposits represented 5.3% of total deposits as of September 30, 2023 CNB FINANCIAL CORPORATION 11#12UNINSURED DEPOSITS AND LIQUIDITY Well diversified and granular deposit base comprised of a combination of consumer, small business, commercial and public funds with an average deposit balance per account for CNB Bank of approximately $33 thousand Substantial liquidity, which is well in excess of uninsured deposits Decrease in uninsured and adjusted uninsured deposits driven primarily by conversions to IntraFi ICS and Reich & Tang reciprocal deposit products UNINSURED DEPOSITS AVAILABLE LIQUIDITY (9/30/23) ($000) 12/31/2022 3/31/2023 6/30/2023 9/30/2023 ($000) 12/31/2022 3/31/2023 6/30/2023 9/30/2023 Uninsured Deposits $1,864,886 $1,619,030 $1,532,048 $1,481,827 Excess Cash at Federal Reserve $43,401 $132,696 $62,644 $117,632 (1) Adjusted Uninsured Deposits 1,325,578 1,055,799 984,380 940,375 FHLB Borrowing Capacity (2) 757,835 804,916 962,319 988,471 Total CNB Bank Deposits 4,766,209 4,855,815 5,032,613 5,104,596 Federal Reserve Borrowing Capacity (3) 147,923 305,493 394,547 418,916 Uninsured Deposits Brokered Deposits (4) 818,023 881,180 892,504 1,811,718 to Total CNB Bank Deposits 39.1% 33.3% 30.4% 29.0% (4) Other third-party funding channels 65,000 65,000 65,000 370,616 Adjusted Uninsured Deposits to Total CNB Bank Deposits Total net available liquidity $1,832,182 $2,189,285 $2,377,014 $3,707,353 27.8% 21.7% 19.6% 18.4% Available Liquidity as a Multiple of Adjusted Uninsured Deposits 1.4 2.1 2.4 3.9 (1) Adjustments to Uninsured Deposits include the exclusion of collateralized deposits and affiliate deposits (2) Availability contingent on the FHLB activity-based stock ownership requirement (3) Includes access to discount window, BIC program and Bank Term Funding Program (4) Availability contingent on internal borrowing guidelines and Availability contingent on correspondent bank approvals at time of borrowing CNB FINANCIAL CORPORATION 12#13SECURITIES PORTFOLIO 9/30/23 INVESTMENT PORTFOLIO DETAIL Corporate notes & bonds, 6.1% Residential & multi- family mortgage, 40.4% Pooled SBA, 1.5% U.S. Government sponsored entities 38.6% HIGHLIGHTS Investment portfolio comprised of 50.8% available-for-sale and 49.2% held-to-maturity as of September 30, 2023, as part of a strategy to mitigate volatility in tangible common equity Overall low credit risk profile with 80.5% of the portfolio comprised of government or government sponsored securities and residential & multi-family mortgage securities issued by government or government sponsored entities, as of September 30, 2023 Shorter portfolio modified duration of 4.4 years enables CNB to reinvest cash flows to capitalize on higher interest rates State & political subdivisions, 13.4% As of 9/30/23 Price Vol Est % roll off in Net Unrealized Losses Total Net ($000) AFS HTM Total Book Value $404,688 391,301 $795,989 $335,122 Market Value Unrealized Losses ($69,566) (1) AOCI Wgt Avg Mod Dur (Yrs) Years 2024- 352,069 $687,191 (39,232) ($108,798) ($54,957) (4,311) 5.42 3.39 Up100 -4.62% -3.14% Dn100 4.74% 3.32% Next 3 Months 2025 ($59,268) 4.42 -3.86% 4.01% ($2,678) (2,504) ($5,182) ($19,670) (17,101) ($36,771) (1) Accumulated other comprehensive income (loss), "AOCI" amounts included in the amount presented under Total Net Unrealized Losses. These AOCI amounts are calculated using a tax rate of 21%. CNB FINANCIAL CORPORATION 13#14LOAN PORTFOLIO COMPOSITION 9/30/23 LOAN PORTFOLIO COMPOSITION COMMERCIAL & INDUSTRIAL CONSUMER & OTHER 3.0% 32.4% COMMERCIAL MORTGAGE 36.5% RESIDENTIAL REAL ESTATE 28.1% OBSERVATIONS Long term loan growth driven primarily by increases in Commercial and Residential across our diversified markets Excluding net PPP loans and syndicated loans, loans grew $250.7 million, or 7.7% (annualized), from December 31, 2022, to September 30, 2023 CNB views commercial lending as its competitive advantage and remains focused on the area by hiring and retaining experienced loan officers Continued focus on adhering to disciplined pricing and credit quality standards Loan Portfolio Detail CAGR ($000s) 2019Y 2020Y 2021Y 2022Y 2023 3Q 2019Y - 2023 3Q Commercial & Industrial $983,129 $1,242,233 $1,323,674 $1,463,825 $1,455,784 11.0% Commercial Mortgages 869,654 1,059,494 1,178,074 1,499,696 1,638,883 18.4% Residential Real Estate 821,680 967,968 1,025,757 1,193,232 1,263,482 12.2% Consumer & Other 129,572 102,094 107,287 118,425 134,025 0.9% Total Loans $2,804,035 $3,371,789 $3,634,792 $4,275,178 $4,492,174 13.4% CNB FINANCIAL CORPORATION 14#15ADDITIONAL LOAN PORTFOLIO DETAIL Well diversified C&I portfolio with no single industry greater than 23% of total C&I portfolio CNB has proven C&I underwriting practices and strong loan loss history Commercial Mortgage portfolio is also well diversified with no single segment greater than 22% of the total Commercial Mortgage portfolio, and with the Commercial Office segment representing less than 10% of the total Commercial Mortgage portfolio C&I DETAIL (9/30/23) Retail 9.0% Healthcare & Social Services 11.1% Construction 7.1% Finance and Insurance 6.1% Manufacturing 22.3% Other Services 5.1% Professional, Scientific, and Technical Services 4.7% Agriculture, Forestry, Fishing and Hunting 4.4% Transportation and Warehousing 3.7% COMMERCIAL MORTGAGE DETAIL (9/30/23) Educational Services 3.4% Storage Units 1.8% Warehouse 2.4% Student Housing 2.4% All Other 23.1% Manufacturing 2.6% All Other 22.2% Retail 8.2% Office 9.1% Mixed Use 10.5% Apartments 19.5% CNB Lodging 21.3% FINANCIAL CORPORATION 15#16ADDITIONAL LOAN DETAIL - COMMERCIAL OFFICE MARKETS BREAKDOWN (9/30/23)(1) 8.7% Columbus Cincinnati 9.7% Other 24.7% $116M Cleveland 29.8% Buffalo 27.1% COMMERCIAL OFFICE LOAN PORTFOLIO Commercial office loans outstanding consisted of 120 loans, totaling $115.7 million, or 2.6%, of total loans outstanding Nonaccrual commercial office loans (three customer relationships) totaled $1.1 million, or 1.0% of total office loans outstanding The average outstanding balance per commercial office loan is $964 thousand The Corporation had no commercial office loan relationships considered by banking regulators to be a high volatility commercial real estate credit ADDITIONAL DETAIL AS OF 9/30/23 Oustanding Average Loan Amount Maturing ($000) # of Loans Balance Size Non-Pass Non- Performing Next 12 months Cleveland 28 $34,508 Buffalo 15 31,345 $1,232 2,090 $0 $0 $0 Next 24 months $2,048 0 0 320 320 Cincinnati 1 11,264 11,264 0 0 0 0 Columbus 12 10,031 836 0 0 0 0 Other 64 28,558 446 2,848 1,120 3 1,161 Total 120 $115,706 $964 $2,848 $1,120 $323 $3,529 CNB FINANCIAL CORPORATION (1) Markets are based upon metropolitan statistical areas. 16#17CONSERVATIVE CREDIT CULTURE 9/30/23 NONACCRUAL LOANS BY TYPE HISTORICAL NPAS/ASSETS & NCOS/LOANS 1.00% 0.80% 0.67% 0.62% COMMERCIAL & 0.60% COMMERCIAL INDUSTRIAL 34% REAL ESTATE 43% 0.51% 0.43% 0.38% 0.40% 0.24% 0.21% 0.20% 0.08% 0.07% 0.17% 0.05% 0.17% CONSUMER 3% RESIDENTIAL MORTGAGE 20% 0.00% 0.05% 0.02% 0.03% 2019 2020 2021 2022 2023YTD HISTORICAL ASSET QUALITY ■NPAS / ASSETS NCOs / AVERAGE LOANS NCOs / AVERAGE LOANS - BANK ONLY 12/31/2019 12/31/2020 12/31/2021 12/31/2022 9/30/2023 NONACCRUAL LOANS $21,736 $30,359 $19,420 ACCRUAL LOANS GREATER THAN 89 DAYS 61 325 168 $20,986 1,121 $27,065 OREO 1,633 862 707 NONPERFORMING ASSETS $23,430 $31,546 $20,295 1,439 $23,546 231 2,039 $29,335 NONACCRUAL LOANS / LOANS NPAS / ASSETS ACL / NONACCRUAL LOANS (1) NCOs-Bank Only excludes Holiday Financial Services Note: NPAs is an abbreviation for non-performing assets; NCOs is an abbreviation for net charge-offs 0.78% 0.90% 0.53% 0.49% 0.60% 0.62% 0.67% 0.38% 0.43% 0.51% 89.59% 113.11% 193.55% 206.98% 169.34% (1) CNB FINANCIAL CORPORATION 17#18CREDIT QUALITY NONPERFORMING ASSETS TO TOTAL ASSETS 0.75% 0.67% 0.62% 0.50% 0.25% 0.51% 0.43% 0.38% 0.00% 2019 2020 2021 2022 2023Q3 NET CHARGE-OFFS TO LOANS 0.50% 0.24% 0.25% 0.21% 0.08% 0.07% 0.05% 0.00% 2019 2020 2021 2022 2023YTD ALLOWANCE FOR CREDIT LOSSES TO NONACCRUAL LOANS (1) 2.5 2.0 1.5 1.13 1.0 0.5 2.07 1.94 1.69 0.0 2020 2021 2022 2023Q3 (1) Prior to January 1, 2020, the Corporation calculated the allowance for loan losses using the probable incurred methodology. CNB FINANCIAL CORPORATION 18#19FINANCIAL TRENDS TOTAL ASSETS ($M) TOTAL GROSS LOANS ($M) CAGR = 11.9% $6,000 CAGR = 13.4% $5,000 $4,492 $5,732 $4,275 $5,000 $5,329 $5,475 $4,000 $3,635 $4,729 $4,000 $3,372 $3,764 $3,000 $2,804 $3,000 $2,000 $2,000 $1,000 $1,000 $0 2019 2020 2021 $0 2022 2023Q3 2019 TOTAL DEPOSITS ($M) $6,000 $5,000 $4,000 $3,000 $3,102 $2,000 $1,000 CAGR = 13.6% 2020 2021 2022 2023Q3 DILUTED EARNINGS PER SHARE(1) $3.5 $3.0 $2.63 $5,003 $4,716 $4,622 $2.5 $4,182 $2.0 $1.5 $1.0 $0.5 $1.97 CAGR = 0.1% $3.26 $3.16 $2.64 $0 $0.0 2019 2020 2021 2022 2023Q3 2019 9 2020 2021 2022 2023LTM (1) Earnings per share includes merger costs in 2019 and merger costs, FHLB prepayment penalties and branch closure costs in 2020. CNB FINANCIAL CORPORATION 19#20EARNINGS POWER RETURN ON AVERAGE ASSETS (1) NET INTEREST MARGIN (2) 3.90% 1.40% 1.20% 3.80% 1.17% 1.20% 1.14% 3.69% 1.06% 1.00% 0.75% 0.80% 0.60% 0.40% 0.20% 0.00% ill 3.70% 3.64% ■NIM ■ NIM Fully tax Equiv 3.83% 3.82% 3.66%3.64% 3.60% 3.50% 3.38% 3.40% 3.34% 3.35% 3.29% 3.30% 3.20% 3.10% 2019 2020 2021 2022 2023YTD 3.00% 2019 2020 2021 2022 2023YTD RETURN ON AVERAGE EQUITY (1) 15.00% 14.1% 12.00% 9.1% 9.00% 6.00% 3.00% 13.9% 13.4% EFFICIENCY RATIO (1)(2) 80% Efficiency ratio Efficiency ratio FTE 10.7% 70% 65.94% 61.55% 61.32% 65.10% 60% 60.19% 60.26% 59.76% 64.26% 63.60% 60.87% 50% 40% 2019 19 2 2020 0 2 2021 2022 2023YTD 0.00% 2019 2020 2021 2022 2023YTD (1) Return on average assets, return on average equity, and efficiency ratio include merger costs in 2019 and merger costs, FHLB prepayment penalties and branch closure costs in 2020. (2) Net interest margin and adjusted efficiency ratio are non-GAAP financial measures - see Appendix for reconciliations. Note: "FTE" means fully tax equivalent basis CNB FINANCIAL CORPORATION 20#21APPENDIX#22NON-GAAP RECONCILIATION This presentation contains references to financial measures that are not defined in GAAP. Management uses non-GAAP financial information in its analysis of the Corporation's performance. Management believes that these non-GAAP measures provide a greater understanding of ongoing operations, enhance comparability of results of operations with prior periods and show the effects of significant gains and charges in the periods presented. The Corporation's management believes that investors may use these non-GAAP measures to analyze the Corporation's financial performance without the impact of unusual items or events that may obscure trends in the Corporation's underlying performance. This non-GAAP data should be considered in addition to results prepared in accordance with GAAP, and is not a substitute for, or superior to, GAAP results. Limitations associated with non-GAAP financial measures include the risks that persons might disagree as to the appropriateness of items included in these measures and that different companies might calculate these measures differently. A reconciliation of these non-GAAP financial measures is provided below (dollars in thousands, except per share data). Dollars in thousands, except per share data Net Income Available to Common 2005 2006 2007 2008 2009 2010 2011 For the year ending December 31, 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 $9,353 $9,892 $9,177 $5,283 $8,554 $11,338 $15,062 $17,074 $16,769 $23,746 $22,735 $21,142 $24,524 $34,278 $40,382 $31,596 $53,405 $58,886 Nine months ended September 30, 2023 $40,817 Average Tangible Common Equity Return on Average Tangible Common Equity (non-GAAP) $58,381 $59,829 $60,078 $55,413 $55,253 $86,526 $111,390 $129,983 $133,013 $149,638 $167,637 $177,987 $198,282 $210,645 $245,825 $296,142 $329,012 $353,800 16.02% 16.53% 15.28% 9.53% 15.48% 13.10% 13.52% 13.14% 12.61% 15.87% 13.56% 11.88% 12.37% 16.27% 16.43% 10.67% 16.23% 16.64% (1) Annualized $446,048 12.23% (1) CNB FINANCIAL CORPORATION 22#23NON-GAAP RECONCILIATION Dollars in thousands, except per share data Interest Income LESS: Interest Expense Net Interest Income Average Total Earning Assets Net Interest Margin 2019 For the year ending December 31, 2020 2021 2022 Nine months ended September 30, 2023 $214,488 $155,728 39,530 32,456 116,198 134,711 $167,167 $179,600 $213,738 19,820 24,079 189,659 72,353 159,780 142,135 $3,194,911 $4,092,076 $4,768,040 $4,954,547 $5,194,485 3.64% 3.29% 3.35% 3.83% 3.66% (1) Interest Income $155,728 $167,167 $179,600 $213,738 $214,488 ADD: Tax Equivalent Adjustment 1,476 1,361 953 Adjusted Interest Income (fully tax equivalent basis) (non-GAAP) 157,204 168,528 180,553 1,235 214,973 755 215,243 LESS: Interest Expense 39,530 Net Interest Income (fully tax equivalent basis) (non-GAAP) 117,674 32,456 136,072 19,820 160,733 24,079 72,353 190,894 142,890 Average Total Earning Assets $3,194,911 $4,092,076 $4,768,040 $4,954,547 (ADD) LESS: Average Mark to Market Adjustment on Investments 5,631 18,884 9,879 (40,271) $5,194,485 (58,577) Adjusted Total Earning Assets 3,189,280 4,073,192 4,758,161 4,994,818 5,253,062 Net Interest Margin, fully tax equivalent basis (non-GAAP) 3.69% 3.34% 3.38% 3.82% 3.64% (1) (1) Annualized CNB FINANCIAL CORPORATION 23#24NON-GAAP RECONCILIATION Dollars in thousands, except per share data Calculation of efficiency ratio: Non-interest expense Non-interest income Net interest income Total revenue Efficiency ratio Calculation of efficiency ratio (fully tax equivalent basis) (non-GAAP): For the year ending December 31, 2020 2019 2021 2022 Nine months ended September 30, 2023 $106,892 $87,508 $107,326 $116,433 $137,622 25,975 28,059 33,434 34,766 24,198 116,198 134,711 159,780 189,659 142,135 142,173 162,770 193,214 224,425 166,333 61.55% 65.94% 60.26% 61.32% 64.26% Non-Interest Expense LESS: Core Deposit Intangible Amortization Adjusted Non-Interest Expense Non-Interest Income $87,508 $107,326 $116,433 $137,622 $106,892 567 206 107 96 65 $86,941 $107,120 $116,326 $137,526 $106,827 25,975 28,059 33,434 34,766 24,198 Net Interest Income 116,198 134,711 159,780 189,659 142,135 LESS: Tax Exempt Investment and Loan Income, net of TEFRA (non-GAAP) ADD: Tax Exempt Investment and Loan Income (non-GAAP) (tax-equivalent) 6,664 5,703 4,973 5,011 4,043 8,946 7,490 6,416 6,509 5,668 Adjusted Net Interest Income (non-GAAP) 118,480 136,498 161,223 191,157 143,760 Adjusted Net Revenue (non-GAAP) (tax-equivalent) 144,455 164,557 194,657 225,923 167,958 Efficiency Ratio (fully tax-equivalent) (non-GAAP) 60.19% 65.10% 59.76% 60.87% 63.60% CNB FINANCIAL CORPORATION 24#25NON-GAAP RECONCILIATION Dollars in thousands, except per share data As of December 31, As of September 30, 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Total Common Equity Goodwill and Other Intangibles Core Deposit Intangibles LESS: Total Intangible Assets Tangible Common Equity (non-GAAP) Total Assets Goodwill and Other Intangibles Core Deposit Intangibles LESS: Total Intangible Assets Tangible Assets (non-GAAP) $2,099,512 $2,131,289 $2,189,213 $2,285,136 $2,573,821 $27,194 $27,194 $27,194 $38,730 $4,583 $3,403 $2,396 $2,854 $31,777 $30,597 $29,590 $41,584 $2,158,616 $2,255,546 $2,532,237 $2,728,418 $164,911 $188,548 $201,913 $211,784 $243,910 $262,830 $27,194 $27,194 $27,194 $38,730 $38,730 $38,730 $4,583 $3,403 $2,396 $2,854 $1,625 $727 $31,777 $30,597 $29,590 $41,584 $40,355 $133,134 $157,951 $172,323 $170,200 $203,555 $223,373 $266,076 $314,036 $340,853 $428,864 $2,768,773 $3,221,521 $3,763,659 $4,729,399 $5,328,939 $5,475,179 $38,730 $38,730 $38,730 $43,749 $43,749 $43,749 $1,625 $727 $160 $567 $460 $364 $40,355 $38,890 $44,209 $3,724,769 $5,284,730 $39,457 $304,966 $358,352 $38,730 $43,749 $160 $567 $38,890 $385,062 $43,749 $460 $472,977 $491,427 $43,749 $43,874 $364 $299 $44,316 $44,209 $44,113 $44,173 $447,254 $5,731,908 $43,874 $39,457 $3,182,064 $44,316 $4,685,083 $44,113 $5,431,066 $299 $44,173 $5,687,735 Tangible Common Equity / Tangible Assets (non-GAAP) 6.34% 7.32% 7.64% 6.72% 7.46% 7.02% 7.14% 6.70% 6.45% 7.90% 7.86% Tangible Book Value Per Share $9.23 $10.97 $11.96 $11.76 $13.33 $14.69 $17.45 $18.66 $20.22 $20.30 $21.40 CNB FINANCIAL CORPORATION 25#26NON-GAAP RECONCILIATION Dollars in thousands, except per share data 2019 As of December 31, 2020 2021 2022 As of September 30, 2023 Total stockholder's equity (GAAP) $304,966 $416,137 $442,847 $530,762 $549,212 LESS: preferred equity 57,785 Common equity 304,966 358,352 57,785 385,062 57,785 57,785 472,977 491,427 LESS: goodwill and other intangible assets 38,890 44,316 44,209 44,113 44,173 Tangible common equity (non-GAAP) $266,076 $314,036 $340,853 $428,864 $447,254 Total Assets 3,763,659 4,729,399 5,328,939 5,475,179 5,731,908 LESS: goodwill and other intangible assets 38,890 44,316 44,209 44,113 44,173 Tangible Assets (non-GAAP) 3,724,769 4,685,083 5,284,730 5,431,066 Tangible common equity / Tangible assets (non-GAAP) Common equity / Total assets (GAAP) 7.14% 6.70% 6.45% 8.10% 7.58% 7.23% 7.90% 8.64% 5,687,735 7.86% 8.57% CNB FINANCIAL CORPORATION 26