#1* Laurentian Bank Investor Presentation March 2022 Seeing Beyond Numbers 1#2Caution regarding forward-looking statements From time to time, Laurentian Bank of Canada (the "Bank") will make written or oral forward-looking statements within the meaning of applicable securities legislation, including such as those contained in this document (and in the documents incorporated by reference herein), and in other documents filed filings with Canadian regulatory authorities, in reports to shareholders, and in other written or oral communications. These forward-looking statements are made in accordance with, and are intended to be forward-looking statements under, current securities legislation in Canada. They include, but are not limited to, statements regarding the Bank's vision, strategic goals, business plans and strategies, priorities and financial performance objectives; the economic and market review and outlook for Canadian, United States (U.S.), European, and global economies; the regulatory environment in which the Bank operates; the risk environment, including, credit risk, liquidity, and funding risks; the anticipated ongoing and potential impact of the coronavirus (COVID-19) pandemic on the Bank's operations, earnings, financial results and financial performance, condition, objectives, and on the global economy and financial markets conditions; the statements under the headings "Outlook", "COVID-19 Pandemic" and "Risk Appetite and Risk Management Framework" contained in the Bank's 2021 Annual Report for the year ended October 31, 2021 (the "2021 Annual Report"), including the Management's Discussion and Analysis for the fiscal year ended October 31, 2021; and other statements that are not historical facts. Forward-looking statements typically are identified with words or phrases such as "believe", "assume", "estimate", "forecast", "outlook", "project", "vision", "expect", "foresee", "anticipate", "intend", "plan", "goal", "aim", "target", and expressions of future or conditional verbs such as "may", "should", "could", "would", "will", "intend" or the negative of any of these terms, variations thereof or similar terminology. By their very nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties, both general and specific in nature, which give rise to the possibility that the Bank's predictions, forecasts, projections, expectations, or conclusions may prove to be inaccurate; that the Bank's assumptions may be incorrect (in whole or in part); and that the Bank's financial performance objectives, visions, and strategic goals may not be achieved. Forward-looking statements should not be read as guarantees of future performance or results, or indications of whether or not actual results will be achieved. Material economic assumptions underlying the forward-looking statements contained in this document are set out in the 2021 Annual Report under the heading "Outlook", which assumptions are incorporated by reference herein. We caution readers against placing undue reliance on forward-looking statements, as a number of risk factors, many of which are beyond the Bank's control and the effects of which can be difficult to predict or measure, could influence, individually or collectively, the accuracy of the forward-looking statements and cause the Bank's actual future results to differ significantly from the targets, expectations, estimates or intentions expressed in the forward- looking statements. These risk factors include, but are not limited to, risks relating to: credit; market; liquidity and funding; insurance; operational; regulatory compliance (which could lead to us being subject to various legal and regulatory proceedings, the potential outcome of which could include regulatory restrictions, penalties, and fines); strategic; reputation; legal and regulatory environment; competitive and systemic risks; and other significant risks discussed in the risk-related portions of the Bank's 2021 Annual Report, such as those related to: the ongoing and potential impacts of the COVID-19 pandemic on the Bank, the Bank's business, financial condition and prospects; Canadian and global economic conditions; geopolitical issues; Canadian housing and household indebtedness; technology, information systems and cybersecurity; technological disruption, privacy, data and third-party related risks; competition and the Bank's ability to execute on its strategic objectives; the economic climate in the U.S. and Canada; digital disruption and innovation (including, emerging fintech competitors); Interbank offered rate (IBOR) transition; changes in currency and interest rates (including the possibility of negative interest rates); accounting policies, estimates and developments; legal and regulatory compliance and changes; changes in government fiscal, monetary and other policies; tax risk and transparency; modernization of Canadian payment systems; fraud and criminal activity; human capital; insurance; business continuity; business infrastructure; emergence of widespread health emergencies or public health crises; emergence of COVID-19 variants; development and use of "vaccine passports"; environmental and social risk; and climate change; and the Bank's ability to manage, measure or model operational, regulatory, legal, strategic or reputational risks, all of which are described in more detail in the section titled "Risk Appetite and Risk Management Framework" beginning on page 40 of the 2021 Annual Report, including the Management's Discussion and Analysis for the fiscal year ended October 31, 2021 which information is incorporated by reference herein. We further caution that the foregoing list of factors is not exhaustive. Additional risks, events, and uncertainties not currently known to us or that we currently deem to be immaterial may also have a material adverse effect on the Bank's financial position, financial performance, cash flows, business or reputation the Bank. When relying on the Bank's forward-looking statements to make decisions involving the Bank, investors and others should carefully consider the foregoing factors, uncertainties, and current and potential events. The forward-looking information contained in this document (and in the documents incorporated by reference) is presented for the purpose of assisting investors, financial analysts, and others in understanding the Bank's financial position and the results of the Bank's operations as at, and for the period ended on, the date presented, as well as the Bank's financial performance objectives, vision and strategic goals, and may not be appropriate for other purposes. Any forward-looking statements contained in this document represent the views of management only as at the date hereof, are presented for the purposes of assisting investors and others in understanding certain key elements of the Bank's current objectives, strategic priorities, expectations and plans, and in obtaining a better understanding of the Bank's business and anticipated operating environment and may not be appropriate for other purposes. We do not undertake to update any forward-looking statements, whether oral or written, made by the Bank or on its behalf whether as a result of new information, future events or otherwise, except to the extent required by applicable securities regulations. Additional information relating to the Bank can be located on the SEDAR website at www.sedar.com. The financial information for years 2021 and before in this document is in Canadian dollars and is based on the condensed interim consolidated financial statements (unaudited) prepared under International Financial Reporting Standards (IFRS). Information presented for fiscal 2022 and beyond are forward-looking statements. Seeing Beyond Numbers 2#3Non-GAAP financial and other measures Management uses financial measures based on generally accepted accounting principles (GAAP) and non-GAAP financial measures to assess the Bank's performance. Non-GAAP financial measures presented throughout this document are referred to as "adjusted" measures and exclude amounts designated as adjusting items. Non-GAAP financial measures are not standardized financial measures under the financial reporting framework used to prepare the financial statements of the Bank and might not be comparable to similar financial measures disclosed by other issuers. Adjusting items have been designated as such as management does not believe they are indicative of underlying business performance. Non-GAAP financial measures are considered useful to readers in obtaining a better understanding of how management analyzes the Bank's results and in assessing underlying business performance and related trends Non-GAAP ratios are not standardized financial measures under the financial reporting framework used to prepare the financial statements of the Bank to which the non-GAAP ratios relate and might not be comparable to similar financial measures disclosed by other issuers. Ratios are considered non-GAAP ratios if adjusted measures are used as components or refer to the Non-GAAP financial measure description above. Non-GAAP ratios are considered useful to readers in obtaining a better understanding of how management analyzes the Bank's results and in assessing underlying business performance and related trends. Management also uses supplementary financial measures to analyze the Bank's results and in assessing underlying business performance and related trends. For more information, refer to pages 26 and 27 of this presentation and to the Non-GAAP Financial and Other Measures section beginning on page 28 of the 2021 Annual Report, including the Management's Discussion and Analysis (MD&A) for the fiscal year ended October 31, 2021, which pages are incorporated by reference herein. The MD&A is available on SEDAR at www.sedar.com. Seeing Beyond Numbers 3#41.0 Who is Laurentian Bank? Seeing Beyond Numbers 4#5Who we are Founded in Montreal in 1846, Laurentian Bank helps families, businesses and communities thrive. Today, we have 2,900 employees working together as one team, to provide a broad range of financial services and advice-based solutions for customers across Canada and the United States. Seeing Beyond Numbers 5#6Who we are | Laurentian Bank by the numbers* $46.1B $30.2B in balance sheet assets in assets under administration $1B+ Annual revenue *As of January 31, 2022 Annual Revenue based on FY 2021 Results Seeing Beyond Numbers $24.1B in deposits 2,900+ employees 175 years strong, founded in 1846 6#7Who we are | Our operations Commercial Banking Our Commercial Bank is the growth engine of the Bank, offering our customers in-depth industry knowledge in four specialized areas of lending: Real estate financing; Capital Markets Our Capital Markets division provides our customers a focused and aligned offering through an efficient and diversified distribution network, including: . ● Canadian Fixed Income; Debt Capital Markets; and, Specialization in Resource and Diversified Quebec Industries Personal Banking Our One Personal Bank is taking a "digital-first” approach, allowing it to expand its offering on a national basis. Specifically, it serves customers through: • Branch Network; Digital Banking; and, Advisors and Brokers channel Equipment financing; Inventory financing; and, Commercial SME and Syndication This specialized approach, combined with our team's focus on customer-centricity, has led to long-term relationships and sustainable growth. This focused approach, positions us as an alternative to large banks, which along with our alignment with the Commercial Bank allows us to develop deep customer relationships. By combining leading digital capabilities with a more "human-approach" to banking we can change banking for the better. Seeing Beyond Numbers 7#8Who we are | Our purpose & core values Our purpose We believe we can change banking for the better. By seeing beyond numbers to bring hopes and dreams to life. Better begins when everyone feels like they belong and has the chance to thrive. Our core values We place our customers first We work together as One Team We act courageously We are results driven We believe everyone belongs Seeing Beyond Numbers Our tagline: Seeing Beyond Numbers 8#9Who we are | Our renewed senior leadership team RANIA LLEWELLYN President and CEO KARINE ABGRALL-TESLYK SÉBASTIEN BÉLAIR EVP, Personal Banking EVP, Chief Human Resources Officer BINDU CUDJOE Chief Legal Officer and Corporate Secretary YVES DENOMMÉ EVP, Operations YVAN DESCHAMPS KELSEY GUNDERSON EVP, Chief Financial Officer EVP, Capital Markets Seeing Beyond Numbers WILLIAM MASON EVP, Chief Risk Officer ÉRIC PROVOST EVP, Commercial Banking and President, Quebec Market BEEL YAQUB EVP, Chief Information Technology Officer 9#102.0 Our New Strategic Plan Seeing Beyond Numbers 10#11Overview | A 5-point strategy for future growth A Build One Winning Team Work across boundaries, putting the Bank ahead of individual or team interests, in an environment where everyone belongs and thrives. Make Size Our Advantage Leverage our size to create a competitive advantage in specialized markets and remain agile in assessing new opportunities. Think Customer First Create a culture with a relentless focus on the customer, empowering every employee to exceed needs and expectations. Simplify Streamline internal operations, enhance efficiencies, and prioritize to where we can win. Make the Better Choice From the businesses we're in, to the people we hire, and the suppliers we use, we will integrate environmental, social, and governance best practices. 2022: EXECUTE Seeing Beyond Numbers 2023: GROW 2024 ACCELERATE 11#12Build One Winning Team Make Size Our Advantage Think Customer First ✓ Simplify Make the Better Choice The Path Forward | Sound growth strategies and purpose-driven Culture Our Driving Force Inspire and engage employees to work as One Team Commercial Banking Our Growth Engine Continue to focus on our specialized sectors Capital Markets Focused and Aligned Offering Be an alternative to large banks Personal Banking Repositioning for Growth Create one performance- oriented Personal Bank Instil a performance- oriented culture Create an equitable, diverse and inclusive environment Seeing Beyond Numbers . • Diversify geographically and by industry Deepen customer relationships . Expand capabilities to further align with Commercial Banking New ESG capabilities to amplify our Purpose Enhance focus products and services Lead with a digital-first approach Build a purpose-driven brand 12#13Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Culture | Inspire and engage employees TAT Purpose-Driven Create a sense of belonging by renewing purpose, values and focus on ESG Listen & Learn Introduced first employee engagement survey in 9 years Flexible Approach Hybrid model home office-first approach Skills Development Prioritize development and growth of our employees Seeing Beyond Numbers 13#14Build One Winning Team Make Size Our Advantage Think Customer First Culture | Instil a performance-oriented culture Seeing Beyond Numbers N くくくく Simplify Make the Better Choice Introduced Balanced Scorecards to all executives in 2021 and introduce it to the rest of the organization going forward Established common goals across business lines Launched cross-functional calibration for individual performance ratings Tied ESG and financial metrics to compensation Increased accountability of living our new cultural values by linking it to compensation 14#15Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Culture | Create an inclusive environment Created Cultural Bootcamp to drive sense of belonging له Established Equity, Diversity & Inclusion (ED&I) targets Co-created vision for Future of Work Enabled Voice of Employees (two-way communication) Seeing Beyond Numbers Offered wellness and mental health services Launched ED&I initiatives 15#16Build One Winning Team Make Size Our Advantage Think Customer First Simplify Commercial Banking | Highly specialized in four sectors Real Estate Financing Seeing Beyond Numbers Make the Better Choice Commercial SME and Syndication Equipment Financing Inventory Financing 16#17Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Commercial Banking | Continue to focus on specialized sectors Seeing Beyond Numbers Increasing the number of relationship managers and support teams 砌 Dedicating resources to growing markets and new focus industries Expanding Equipment Financing to extend the value chain. of Inventory Financing Implementing new digital tools to improve customer experience Pursuing strategic accretive acquisitions 17#18Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Commercial Banking | Diversify geographically and by industry Commercial Loan Portfolio Mix¹ (2021 vs 2024) New Focus Industries 2021 $14BN 5% 6% 46% 26% 3% 1 As at October 31 14% Seeing Beyond Numbers 2024 >$18BN 5% 5% 45% 26% 1% >18% ୩ Technology Small Construction ESG-Friendly Equipment 18#19Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Commercial Banking | Deepening customer relationships Deposits Digital Cash Management Platform Personal Bank Merchant loans for Canadian dealers Capital Markets Capital Markets services for top tier Commercial clients Underpinned by continuous customer experience improvements Seeing Beyond Numbers 19#20Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Capital Markets | Be an alternative to large banks Unique Market Position Own a unique market position that exists between bank owned dealers and smaller brokers and dealers Targeted Capabilities Provide higher level of service and targeted capabilities for our clients Presence in Key Markets Uniquely positioned in key markets, with a focus on ESG that aligns with regional priorities Seeing Beyond Numbers 20#21Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Capital Markets | Expanding our capabilities Seeing Beyond Numbers Further aligning Capital Markets capabilities with Commercial Banking 砌 Building selected industry verticals and augmenting current focus areas Adding selected sales and trading capabilities Expanding our Securitized Product and Structured Product capabilities Building an ESG focused Advisory capability 21#22Build One Winning Team Make Size Our Advantage Think Customer First Capital Markets | Value-added ESG capabilities A Simplify Make the Better Choice Exited Oil and Gas Research and Advisory Support Green and Social Bond Market Leveraging ESG expertise to build market share, particularly in Quebec Creating a equitable, diverse and inclusive culture Seeing Beyond Numbers 22#23Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Personal Banking | One performance-oriented Personal Bank Seeing Beyond Numbers ÁI New leadership team and operating model to expand our Personal offering on a national basis, by combining its physical branch footprint with digital and virtual capabilities New loyalty team and proactive customer outreach to retain and deepen relationships Introducing sales management disciplines aligned with reward and recognition and scorecards to drive performance and customer first mindset Targeted financial health assessments to identify opportunities to deepen customer relationships Training and development to improve skills and provide career path for advisors 23#24Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Personal Banking | Enhance focus products Mortgages Replace E2E platform • Increase underwriting capacity . Introduce "first time right” metrics Launch new loyalty team Introduce captive mobile sales force • · Visa Leverage Brim's Platform as a Service to accelerate digital capabilities and simplify the VISA ecosystem Digitize onboarding Leverage new rewards platform Introduce Visa instalment loans Develop bundled rewards Program Deposits New digital capabilities to drive deposits Simplify product offering Introduce ESG products New marketing positioning • New reward and loyalty program Retain and Deepen Existing Relationship + Target New Customer Segments Seeing Beyond Numbers 24#25Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Personal Banking | Digital-first approach Customer-centric agile design practice Close foundational gaps - Debit tap, Digital Wallet, Enhanced self-service Consolidate and standardize remaining websites 2022 Enable Digital Advice and appointment booking 2023 Onward Relaunch simplified and enhanced laurentianbank.ca Digital Onboarding Migrate customers and consolidate into one digital platform Introduce Digital innovation labs Seeing Beyond Numbers 25#26Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Personal Banking | Building a purpose-driven brand Centralized the Marketing Function Launch new purpose into market New Product Launches (Mortgages & Visa) Lead with purpose and ESG 2021 2022 Refresh the Brand: Customer Recognition Scale the Brand: Customer Acquisition 2023 Onward Brand Loyalty: Lead with Purpose 175th Anniversary Campaign Developed new brand & tagline Public Web Launch & Digital Onboarding Launch data-driven "Next Best Advice" program Seeing Beyond Numbers Ongoing lifecycle marketing & personalized experiences 26#27Build One Winning Team Make Size Our Advantage Think Customer First Our Financial Roadmap | Key financial drivers Simplify Make the Better Choice FY2022 Medium-Term Low single digit Mid single digit Loan Growth Deposit Growth Loan Portfolio Mix Net Interest Margin¹ PCL (bps)1 Low single digit Commercial >42% >1.85% Mid teens Mid single digit Commercial >45% >1.90% High teens 1 This is a supplementary financial measure. For more information, refer to the non-GAAP financial and other measures section beginning on page 28 of the 2021 Annual Report, including the MD&A for the fiscal year ended October 31, 2021, which page is incorporated by reference herein. Seeing Beyond Numbers 27#28Build One Winning Team Make Size Our Advantage Think Customer First Simplify Make the Better Choice Our Financial Roadmap | Financial targets FY2022 Medium-Term Adjusted diluted EPS growth1 > 5% 7-10% Adjusted ROE¹ > 8.5% > 10% Adjusted efficiency ratio¹ < 68% < 65% Adjusted operating leverage1 Positive Positive 1 This is a supplementary financial measure. For more information, refer to the non-GAAP financial and other measures section beginning on page 28 of the 2021 Annual Report, including the MD&A for the fiscal year ended October 31, 2021, which page is incorporated by reference herein. Seeing Beyond Numbers 28#293.0 Q1 2022 Progress Seeing Beyond Numbers 29#30Q1/22 Financial Highlights Adjusted Net Income ($MM)(1)(4) Adjusted Diluted EPS (2)(4) +25% YOY +22% YoY Adjusted Efficiency Ratio(2)(4) PCL (bps)(3)(4) $ 1.26 $ 59.5 68.9% $ 47.8 $ 1.03 $ 1.06 $ 47.6 -190bps YOY 65.5% 67.0% 20 20 -9bps YoY 30 11 Strong performance in Commercial Banking Solid revenue growth Sound credit quality Strong cost discipline with positive operating leverage Q1 21 Q4 21 Q1 22 Q1 21 Q4 21 Q1 22 Q1 21 Q4 21 Q1 22 Q1 21 Q4 21 Q1 22 Net Income ($MM) +24% YOY $ 0.96 $ 44.8 $ 55.5 Diluted EPS +22% YoY $ 1.17 Efficiency Ratio(3)(4) CET1 Capital Ratio(5) -130bps YoY 142.3% Stable YoY 10.2% Q1 21 Q4 21 Q1 22 Healthy capital and liquidity positions Q1 21 Q4 21 Q1 22 70.4% 69.1% 9.8% 9.8% Seeing Beyond Numbers $ (102.9) $ (2.39) Q1 21 Q4 21 Q1 22 Q1 21 Q4 21 Q1 22 (1) This is a non-GAAP financial measure (2) This is a non-GAAP ratio (3) This is a supplementary financial measure (4) For more information, refer to the Non-GAAP Financial and Other Measures section beginning on page 5 of the First Quarter 2022 Report to Shareholders, including the MD&A as at and for the period ended January 31, 2022 (5) In accordance with OSFI's "Capital Adequacy Requirements" guideline 30#31Q1 2022 | Key highlights Commercial Banking Increased our Inventory Financing credit line authorizations by 13% Q/Q, reaching $6B Expanded our Real Estate pipeline to $4.3B, up 9% Q/Q Generated close to $200MM of New Business Volume in Equipment Financing Maintained a net promotor score of over 50 or 'excellent' Capital Markets Hired new talent in our diversified group to provide strategic advice to commercial clients Hired a new real estate research team, allowing us to triple issuer names under coverage Participated in multiple government green bond issuances in Canada Personal Banking Launched a new customer loyalty team to proactively reach out to customers Announced a new strategic partnership with Brim Financial to enhance our end- to-end customer journey for our suite of VISA products, reduce manual processes by 90% and vendors to issue a card from five to one Experienced strong customer demand for our mobile app, with over 25% of active online banking customers downloading the app ESG & Culture Reduced corporate office space as part of Future of Work strategy Appointed Bindu Cudjoe as Chief Legal Officer and Corporate Secretary Published first-ever ESG Report Seeing Beyond Numbers 31#32Q1 2022 | Financial roadmap On track Behind At Risk Financial Targets Adjusted diluted EPS growth +56% 2021 Actual 2022 Target YTD Results Progress >5% +22%(1) Adjusted ROE 8.3% >8.5% 9.2% Adjusted efficiency ratio 68.2% <68% 67.0% Adjusted operating leverage 5.8% Positive 2.8%(1) Key Financial Drivers Loan Growth Deposit Growth Medium Term 7-10% >10% <65% Positive +1% Low single digit +2% Mid single digit -4% Low single digit +2% Mid single digit Loan Portfolio Mix 42% Comm >42% 44% Net Interest Margin PCL (bps) (1) Q1FY22/Q1FY21 calculation basis Seeing Beyond Numbers 1.85% >1.85% 1.88% 15 bps Mid teens 11 bps >45% >1.90% High teens 32#33Q1 2022 | Annual key performance indicators On track Behind At Risk Culture Targets Commercial Banking Targets 2021 Progress 2022 2024 2021 Progress 2022 2024 Employee Engagement index 74% 75% ≥80% Loan Growth ($) $14B $15B >$18B Employee turnover 27% 25% <20% % of Commercial loans in U.S. Women leaders AVP+ 37% ≥40% 14% 15% >18% Students from Black 8% 5% 5% community Maintain excellent Net Promoter Score 53 50+ 50+ BIPOC leaders VP+ 12% +3%(1) Capital Markets Targets Personal Banking Targets 2021 Progress 2021 Progress 2022 2024 2022 2024 Grow syndicate positions with core provincial and corporate issuers Mortgage time to yes 8 days 3 days 2 days 9th 7th Visa time to yes 25 days Instant Instant Expand coverage universe of our top-tier Commercial clients Participate in sustainable bond issuances with our core clients (1) 2025 Target ** Seeing Beyond Numbers 50% 75% 100% n.m. >75% >75% New Bank Account Openings Account Opening & Digital Activation n.m. 10x 30x <30 <30 2-3 days mins mins 33#344.0 Why Invest in Laurentian Bank? Seeing Beyond Numbers 34#35Why Invest? | Our unique value proposition Alternative to Big 6 Specialized Human Partnerships Resourceful Offering alternative lending services to meet the needs of even more Canadians and businesses Shifting our leadership vision from being all things to all people to being great in our specialized businesses Delivering a more 'human experience' to make a difference in our customers' and employees' lives and financial wellbeing Leveraging our size to partner with others to offer our customers new products and services faster and leapfrog the competition Employees who are resourceful, creative and nimble in developing solutions for the Bank and for our customers Seeing Beyond Numbers 35#36Why Invest? | A strong foundation Seeing Beyond Numbers Prudent Capital Management Diversified Funding Strategy Strong Record of Credit Quality Path to Improved Efficiency New strategic plan with sound business line growth strategies 36#37Why Invest? | Prudent capital management Capital Management Fundamentals ✓ CET1 operating range >8.5% ✓ Excess capital >$250MM ✓ Flexibility to support organic growth and strategic acquisitions Shareholder Value Creation ✓ Dividend payout ratio policy of 40-50% 10% dividend increase in Q1/22 ✓ Prudent 2% NCIB¹ program over 2022 1 Normal Course Issuer Bid (NCIB) Seeing Beyond Numbers A healthy capital position² Common Equity Tier 1 capital ratio³ (in %) 10.2 9.6 9.8 9.0 9.0 7.9 2017 2018 2019 2020 2021 Q1 FY22 2 On a standardized basis versus AIRB 3 In accordance with OSFI's "Capital Adequacy Requirements" guidelines. 37#38Why Invest? | Diversified funding strategy Strengthening Our Funding S&P and DBRS Morningstar revised their long- term ratings outlooks from "negative" to "stable" ✓ Issued Limited Recourse Notes and Covered Bonds Path Forward: Add new digital and cash management capabilities to drive deposits ➤ Initiate USD institutional funding ➤ Introduce sustainable bond framework Seeing Beyond Numbers Multiple Funding Sources Well-diversified funding sources to support our growth $46.1 B $46.1 B Liquid assets 8.6 10.2 ■Demand & notice deposits 29% Loans, net 32.9 34.2 ■Other assets ■Term deposits & wholesale funding ■Capital ■Other liabilities 3.0 1.7 1.6 Total Assets Liabilities & Capital 1% 7% 18% Q1 FY22 7% 1% 7% 30% ■Personal - Branch deposits ■■Personal - Advisors & Brokers deposits ■ Personal - Digital deposits ■■Business deposits ■ Wholesale deposits ■ Debt related to securitization activities ■ Subordinated debt ■ Shareholders' equity 38#39Why Invest? | Strong record of credit quality Prudent Approach to Risk Management ✓ Strong underwriting discipline ✓ Highly collateralized asset base Risk-Adjusted Return Mindset ➤ Growth of Commercial Banking will drive PCL towards high-teens while improving profitability ➤ Additional opportunities for higher risk- adjusted returns within our risk appetite 1 As a % of average loans and acceptances 2 Weighted-average PCL based on industry data Seeing Beyond Numbers Good track record of strong credit quality Provision for credit losses (PCL in bps) 1 37 35 30 31 11 12 13 78 15 11 3 4 2017 2018 2019 2020 2021 Q1 FY22 2 ■Laurentian Bank ■Major Canadian Banks 39#40Why Invest? | Current valuation Double Drivers of Valuation ✓ Earnings growth ✓ Execution to drive multiple expansion 1 Stock price as of March 15, 2022 2 Information derived from IHS Markit Seeing Beyond Numbers Price/ 2021 Adj. EPS1 13.0 12.0 Industry Average 11.4 11.0 1.9 Gap 10.0 LBC 9.4 9.0 8.0 7.0 6.0 اااااا CWB National RBC Scotia TD Laurentian CIBC BMO Price / 2022E Adj. EPS 1,2 Industry Average 10.9 2.0 Gap LBC 8.9 TD Laurentian National RBC Scotia CWB 13.0 12.0 11.0 10.0 9.0 8.0 7.0 6.0 BMO CIBC 40#41Why Invest? | Our commitment to ESG Environment Sustainable Products and Cleaner Technologies GHG Emissions and Environmental Impacts Equity, Diversity, and Inclusion Social Employer of Choice Governance Customer Satisfaction and Financial Inclusion Community Investment and Employee Volunteering ESG Governance Board Composition and Executive Compensation Environment and Social Risk Management ■ LBS participated in the financing of over $6.3 billion in green and sustainable bonds ■ ■ ■ ■ Core Priorities Disclosed estimated Scope 1 and 2 Greenhouse Gas (GHG) emissions Set measurable ED&I targets in leaders' scorecards Launched an employee engagement survey for the first time in 9 years Digital and tele-banking services expanded to serve customers remotely Donated to almost 70 local organizations chosen by employees through grassroots giving campaign, "Laurentian Bank in the Community" Revised the mandates of the Board of Directors and Board Committees to include oversight of ESG Leader in Board Diversity exceeding the 30% threshold, with equal gender representation among independent Board members for the past 3 years Conducted a climate risk assessment on commercial loan and residential mortgage portfolios Continued to drive performance on core topics of Ethics & Integrity, Cyber Security, and Data Protection ☐ ☐ ☐ ☐ Launched Equity-linked Action GIC product with ESG focus and 2 new ESG-related Mackenzie Funds Continued to consider environmental factors in our locations, operations, and partnerships BlackNorth Initiative CEO Pledge: rolled out unconscious bias training, community giving, and hiring a minimum of 5% of student workforce from Black community Surveyed all employees on work preferences. Announced hybrid and work from home first approach for Future of Work strategy Completed the implementation of the Seniors Code principles and published our first report from the Senior's Champion Donated 138 pieces of art from our collection valued at nearly $200,000- to museums, hospitals, galleries and foundations Established a new CEO-led governance structure for ESG and climate topics at the Bank 60% of the independent directors have been appointed over the last 5 years Disclosed first full report on Task Force for Climate-Related Financial Disclosures (TCFD) Updated Employee Code of Ethics, Board Governance Policy, and Conflict of Interest Policies Planted 500 trees in support of Tree Canada's reforestation efforts through its National Greening Program ■ Launched Courageous Conversations Initiative and 3 new Employee Resource Groups Improved employee benefits, including an enhanced Employee and Family Assistance Program and access to 24/7 telemedicine Enhanced Net Promoter Score engagement survey to gain insights from our customers in many of our business lines ESG targets added to all leaders' scorecards linking ESG strategy and initiatives directly to their performance Launched LBC Policies webpage to improve transparency on ESG-related policies Seeing Beyond Numbers 41#42Why Invest? | New 5-point strategy A O Build One Winning Team Make Size Our Advantage Think Customer First Simplify Culture Our Driving Force Commercial Bank Our Growth Engine Capital Markets Focused & Aligned Offering Make the Better Choice Personal Bank Repositioning for Growth Underpinned by a commitment to ESG, a new purpose and new core values Results: Accelerated Growth by 2024 Seeing Beyond Numbers 42#43Why Invest? | We believe... We have the right team Our strategy is focused, simple and executable We have a tested and proven formula for success We can leverage our size to leapfrog the competition We are a purpose- driven bank Our strategy will drive shareholder value and profitable growth Seeing Beyond Numbers 43#44Investor Relations | Contact Susan Cohen Head, Investor Relations (514) 970-0564 [email protected] www.lbcfg.ca/investors-centre Seeing Beyond Numbers 44