#1svb > Financial Group 2 04 2020 Financial highlights#2Contents Snapshot and current environment Performance detail and outlook Appendix JUA Non-GAAP reconciliations PAGE 3 svb > PAGE 15 PAGE 33 PAGE 49 This presentation should be reviewed with our Q4 2020 Earnings Release and Q4 2020 CEO Letter, as well as the company's SEC filings Q4 2020 Financial Highlights 2#3Snapshot and current environment svb > Q4 2020 Financial Highlights 3#4Q4'20 Snapshot: Exceptional growth and profitability as innovation markets remain robust FINANCIAL HIGHLIGHTS EPS: $7.40 Q4'20 PERFORMANCE (vs. Q3'20) $225.5B $41.5B +12.1% AVERAGE CLIENT FUNDS +$31.5B PERIOD-END GROWTH svb > Net Income: $388M +11.3% AVERAGE LOANS¹ +$6.8B PERIOD-END GROWTH $248M WARRANT AND INVESTMENT GAINS NET OF NCI² $151 M SVB LEERINK REVENUE2, 3 ROE: 20.23% $597 M +12.2% NET INTEREST INCOME¹ 1. SBA Paycheck Protection Program ("PPP") contributed $1.7B to average loan balances and $14.3M to net interest income, including $9.9M of loan fees. Net interest income presented on a fully taxable equivalent basis. 2. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 3. Represents investment banking revenue and commissions. $156M +6.5% CORE FEE INCOME² $38M NET BENEFIT TO PROVISION FOR CREDIT LOSSES (improved economic scenarios and continued strong Private Bank performance drive reserve release) Q4 2020 Financial Highlights 4#5FY'20 Snapshot: Exceptional growth and profitability despite low rate environment and COVID-19 recession FINANCIAL HIGHLIGHTS EPS: $22.87 2020 PERFORMANCE (vs. 2019) $192.4B +31.2% AVERAGE CLIENT FUNDS +$82.1B PERIOD-END GROWTH $572M WARRANT AND INVESTMENT GAINS NET OF NCI² svb > Net Income: $1.19B $37.3B +24.6% AVERAGE LOANS¹ +$12.0B PERIOD-END GROWTH $481 M SVB LEERINK REVENUE², 3 ROE: 16.83% $2.17B +3% NET INTEREST INCOME¹ $220M PROVISION FOR CREDIT LOSSES (driven primarily by COVID-19 recessionary scenarios) 1. SBA Paycheck Protection Program ("PPP") loans contributed $1.2B to average loan growth and $33.8M to net interest income. Net interest income presented on a fully taxable equivalent basis. 2. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 3. Represents investment banking revenue and commissions. $603 M -6% CORE FEE INCOME² +$1.7B TANGIBLE BOOK VALUE CREATION² Q4 2020 Financial Highlights 5#6Q4'20 Highlights Exceptional growth and profitability 1. Thriving innovation markets and effective execution drove Q4'20 outperformance and expected to drive continued growth in 2021 Period-end assets reached $116B (+63% yoy) and total client funds exceeded $243B (+51% yoy) as strong fundraising and exit activity fueled client liquidity 3. Strong balance sheet growth propelled NII above guidancedespite low rates 4. Robust loan growth as private equity investment accelerated 5. Q4 reserve release as economic scenarios improved, credit metrics remained stable and vast majority of deferrals expired 6. Outsized warrant and investment gains from strong exits and valuations 7. Improved core fees as business activity increased 8. Continued momentum for SVB Leerinkas life science public markets remained active 2. 9. Strong capital and liquidity to meet clients' needs and invest in our business; targeting 7-8% Bank tier 1 leverage ratio 10. Outstanding performance and real estate charges drove expenses above guidance 11. Announced in early January planned acquisition of Boston Private Financial Holdings, Inc. to accelerate growth in private banking and wealth management svb > B Q4 2020 Financial Highlights 6#7Continued strong execution Client acquisition and engagement remains robust, supported by investments in people and technology ~1,500 new clients in Q4'20 Over 550 client events in 2020, supported by virtual engagement Other Private Bank PE/VC VC-Backed Pre- VC-Backed svb> 13% CAGR 2016 2017 2018 2019 2020 SVB CLIENT COUNT 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 Supporting employee productivity and well-being VIDEO CONFERENCING 88 88 OFFICE EQUIPMENT =pg 0 FAMILY CARE MESSAGING & COLLABORATION ERGONOMIC ASSESSMENTS Ss MENTAL HEALTH RESOURCES DOCUMENT MANAGEMENT & STORAGE STIPENDS & REIMBURSEMENTS $ VIRTUAL COACHING 88 Q4 2020 Financial Highlights 7#8Resilient and highly liquid markets Technology markets outperforming INDEXED PRICE % VS. 1/1/17 1/1/17 1/1/18 1/1/19 1/1/20 U.S. VC-BACKED IPOS Count 59 2017 Strong IPO activity svb > 85 2018 80 2019 AS OF 12/31/20 Nasdaq¹ 2.6x S&P 500 1.7x 103 2020 U.S. VC INVESTMENT $ Billions 87 2017 Record VC investment 637 2017 143 2018 Note: VC and PE data sourced from Pitch Book. 1. Nasdaq 100 Index used as a proxy for technology markets. 2. Most recent data available. U.S. PE INVESTMENT $ Billions Rebounding PE investment in 2H'20 138 745 2019 2018 764 156 2019 2020 708 2020 U.S. VC DRY POWDER $ Billions 95 2017 Ample dry powder... 588 118 2017 2018 U.S. PE DRY POWDER $ Billions 123 ...to support future investment 679 2019 2018 707 153 2019 3/31/20 YTD² 728 3/31/20 YTD² Q4 2020 Financial Highlights 8#9Stable credit Only 1.8% of loans remain on deferral Vast majority of clients resume payments Remaining Venture Debt deferrals were not driven by additional extensions (at time of deferral, loans had remaining interest-only periods which were extended via the program; principal payments commencing in 2021) Cautiously optimistic Economic recovery remains uncertain Figures as of 12/31/20 svb > O DEFERRAL PROGRAM PARTICIPATION¹ 4% of total assets Private Bank Wine Venture Debt Total (as % of period-end loans) 22% Global Fund Banking² of total assets • Largest driver of loan growth for the past 7 years EXPECT CONTINUED STRONG CREDIT PERFORMANCE • ZERO capital call net losses since inception (1990s) Private Bank • Primarily mortgages located in CA (64%) with 65% median LTV 6/30/2020 $204M $595M $2.1B 7.9% $2.9B • Only $19M of net losses since inception (1990s) • Contributed to Q4'20 reserve release $2.0B 1% of total assets 9/30/2020 $14M $73M $1.9B 5.3% $0.8B 12/31/2020 $13M $2M $769M 1.8% STABLE PERFORMANCE TO DATE 000 10% Technology and Life Science/Healthcare Credit focus: Investor Dependent (primarily Early-Stage), of total assets Cash Flow Dependent and other COVID-19-impacted clients 1. Represents outstanding deferred loans including repayments received as of each date. Offered programmatic deferrals (3 to 6 amths of payment relief) for Venture backed, Private Bank and Wine portfolios earlier in 2020. 3month Private Bank and Wine deferral programs ended in Q3'20 and 6-month Wine and vast majority of 6month Venture Debt deferral programs ended in Q4'20. 2. Global Fund Banking ("GFB") portfolio primarily consists of PE/VC capital call lines of credit. Positive considerations: Record VC investment and fundraising in 2020 bode well for continued investor support; SBA PPP 2.0 and additional fiscal stimulus may help extend runway Wine Credit focus: Near-term reduced direct to consumer and restaurant sales; medium-term potential smoke taint Positive considerations: 76% of portfolio secured by high quality real estate with median LTV of 49%; limited physical damage from recent California wildfires Q4 2020 Financial Highlights 9#10Strong capital and liquidity Strong capital to support growth and investments Targeting 7-8% Bank tier 1 leverage ratio Ample liquidity to meet clients' needs $65.2B in cash and high-quality fixed income securities svb > SILICON VALLEY BANK CAPITAL RATIOS¹ SVB's Q4'20 Capital Ratio I Regulatory Minimum 10.70% 10.70% 7.00% Common Equity Tier 1 Other $4 Tier 1 Capital 12/31/20 ASSETS Billions 8.50% TT 11.49% Net loans $45 10.50% 6.43% Total Capital 4.00% Tier 1 Leverage Cash and fixed income securities $65 $2 Non-marketable securities Q4'20 Bank capital ratio drivers Robust balance sheet growth, partially offset by strong earnings Downstreamed $700M HoldCo liquidity to Bank to support growth Liquidity As of 12/31/20 $52.8B Borrowing capacity through Federal Reserve, FHLB and repo + unpledged securities $1.3B Unrealized fixed income gains provide potential source of earnings support $0.7B HoldCo liquidity, a portion of which can be downstreamed to Bank to support growth 1. Ratios as of December 31, 2020 are preliminary. 2. Consists of $668M unrealized pretax gains in the available-for-sale portfolio and $624M unrealized pretax gains in the held-to-maturity portfolio as of December 31, 2020. Amounts actually realized are subject to various factors and may differ from unrealized amounts. Q4 2020 Financial Highlights 10#11Enhance client experience ● ● Investments are accelerating client acquisition and growth We continue to invest in our strategic priorities to drive future growth and scalability + 40 35 30 25 20 15 10 5 0 End-to-end digital banking APIs and payment enablement Strategic partnerships to accelerate product delivery Technology platform upgrades SVB CLIENT COUNT Thousands 13% CAGR 2016 2017 2018 2019 2020 svb > Improve employee enablement ● ● ● ● ● Mobile and collaboration tools nCino credit onboarding platform Client and industry insights Global Delivery Centers Agile ways of working Diversity, Equity & Inclusion initiatives 18 19% CAGR 21 26 Drive revenue growth Global expansion SVB Leerink 30 ● ● • Boston Private acquisition (expected closing mid-2021¹) SVB Capital debt fund (WestRiver acquisition) ● AVERAGE TOTAL LOANS $ Billions ● ● • Strategic investments Fintech strategy ● Client acquisition New products (cards, liquidity and lending) Product penetration 37 2016 2017 2018 2019 2020 AVERAGE TOTAL CLIENT FUNDS $ Billions 82 94 Enhance risk management ● 123 . дв ● ● -24% CAGR Data foundation Large Financial Institution regulatory requirements (>$100B in average total consolidated assets) U.K. subsidiarization Cybersecurity 147 192 2016 2017 2018 2019 2020 1. Subject to regulatory approvals and customary closing conditions. 2. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. CORE FEES AND SVB LEERINK REVENUE² $ Millions 316 Long-term scalable growth 379 -36% CAGR 894 516 252 642 1,084 SVB Leerink Revenue 481 (Investment 603 2016 2017 2018 2019 2020 Banking Revenue and Commissions) Core Fee Income Q4 2020 Financial Highlights 11#12Acquisition transaction svb > Financial Group Silicon Valley Bank Global commercial banking svb > Silicon Valley Bank SVBLEERINK SVB Leerink Investment banking for healthcare and life science companies svb > of Boston Private: Financially attractive with large growth opportunity SVB Private Bank Private banking and wealth management Clients SVB Capital Private venture investing expertise, oversight and management svb> Private Bank svb> Capital Accelerates growth of private banking and wealth management business ● ● Adds immediate scale to private banking and wealth management business ($18.6B combined AUM¹) Expands capabilities and capacity to help deepen client relationships and capture ~$400B opportunity among current clients² Harnesses complementary offerings to deliverunique insights and solutions Advances digital client experience Immediately accretive to TBV per share at close Low single digit earnings per share accretion Diversifies revenues and enhances profitability to support long-term growth Reinforces our vision to be the most sought-after financial partner helping innovators, enterprises, and investors move bold ideas forward, fast Note: On January 4, 2021, SVB Financial Group announced its planned acquisition of Boston Private Financial Holdings, Inc. The acquisition is expected to close in mid-2021 subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals and approvals by the shareholders of Boston Private. See SEC filings for more information. 1. Combined assets under management ("AUM") based on SVB Private Bank's AUM and Boston Private's AUM as of December 31, 2020. 2. Estimated potential “total client position" ("TCP") through SVB's current commercial clients based on SVB management analysis (2020). TCP includes potential wealth management assets, lending and deposits. Q4 2020 Financial Highlights 12#13Combined platform well-positioned to capture compelling market opportunity + SVB's leadership position in the innovation economy and large balance sheet + Boston Private's broad product set and advancedtechnology + Complementary talent and offerings Advisory solutions HNW/UHNW advisory¹ Tax planning Philanthropy Trust services Estate planning Investment solutions Impact investing Investments focused on the innovation economy² Broker-dealer Banking solutions Mortgages Securities-based lending Private stock lending Specialty commercial lending Full private banking payment solutions svb > svb> BOSTON Private Bank PRIVATE Partial Combined ↑ Combined → Premier private banking and wealth platform with deep wealth management and innovation economy expertise Trusted advisor Comprehensive planning Exclusive access Sophisticated solutions Next generation digital platform Large balance sheet 1. High net worth ("HNW") and ultra high net worth ("UHNW"). 2. E.g., fund of funds, venture capital and direct investments in private innovation companies. to prepare for liquidity and life events to events, insights and investment opportunities in the innovation economy² to address equity compensation, concentrated stock positions and non-liquid assets "Always on" digitally enabled interactions and improved efficiencies to support clients' borrowing needs Q4 2020 Financial Highlights 13#14Resilient business model positioned for long-term growth Resilient, high-growth markets Robust earnings power Unique liquidity franchise Proven leadership High-quality balance sheet Strong capital and liquidity Leveraging improvements svb > $ul $%$ %$ ²² |=| ● ● ● ● ● ● ● ● Innovation is driving economic growth COVID-19 has accelerated digital adoption and activity in healthcare Strong profitability and industry-leading growth Diversified business model to drive earnings in a low rate environment Robust liquidity solutions to support clients' needs and optimize pricing and mix Ample PE/VC dry powder and low rates will continue to drive demand for alternative assets Deep bench of recession-tested leaders supported by strong global team Active partnership with our clients to promote better outcomes 83% of assets in high-quality investments and low credit loss experience lending • Ability to support growth, help our clients and manage shifting economic conditions while continuing to invest in our business In people, processes and systems to improve our scalability ● In new markets to expand our reach ● In digital enhancements to improve the client experience ● In products and services to diversify our business * Based on cash, fixed income investment portfolio and Global Fund Banking and Private Bank loan portfolios as of December 31, 2020. Q4 2020 Financial Highlights 14#15Performance detail and outlook svb > Q4 2020 Financial Highlights 15 2#162021 Outlook Outlook considerations The innovation economy continues to thrive as COVID-19 has highlighted the importance of technology and healthcare • Robust liquidity in our markets, supported by strong PE/VC fundraising and dry powder, providing fuel for long-term growth COVID-19 vaccines position the broader economy for an eventual recovery, but vaccine delays, accelerated spread, mutations and continued shutdowns present near-term uncertainties ● ● Expect strong average balance sheet growth, stable charge-offs and continued investment in 2021 • Outlook excludes impact of changes in Fed Funds or LIBOR rates, SBA PPP 2.0, Boston Private acquisition (pending¹) and potential corporate tax rate or other changes under the new U.S. government administration FY'20 Results $37.3B $75.0B $2,156M 2.67% ● Business Driver Average loans Average deposits Net interest income² Net interest margin Net loan charge-offs Core fee income 3, 4 SVB Leerink revenue ³, 5 Noninterest expense³, 6 0.20% svb > FY'21 Outlook vs. FY'20 Mid 20s % growth Mid 40s % growth Low 20s % growth 2.20%-2.30% 0.20%-0.40% $603M $481M $320M-$360M $2,035M Low single digit % growth Effective tax rate 27.0% 26%-28% Note: Actual results may differ. For additional information about our financial outlook, please refer to our Q4 2020 Earnings Release and Q4 2020 CEO Letter. Consistent with 2020 1. Expected to close mid-2021, subject to regulatory approvals and customary closing conditions. 2. Excludes fully taxable equivalent adjustments. 3. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 4. Excludes SVB Leerink. 5. Represents investment banking revenue and commissions. 6. Excludes expenses related to NCI. Includes SVB Leerink expenses. Q4 2020 Financial Highlights 16#17Key variables to our forecast Our guidance requires clarity around certain variables, including but not limited to: VC fundraising ir and investment i PE fundraising and investment IPO and M&A activity Economic environment Capital markets Competitive landscape Shape of yield curve Political environment svb > gal X ACH ● ● ● ● ● ● ● Promotes new company formation which helps support client acquisition Source of client liquidity which helps drive total client funds growth Primary driver of capital call line demand which has been the largest source of loan growth over the past 7 years Ability for companies to exit via IPO or M&A affects VC/PE fundraising and investment Deal proceeds support client liquidity Impacts investment banking revenue and value of warrants and investment securities Affects health of clients which determines credit quality Level of business activity drives client liquidity and demand for our products and services Performance and volatility of public, private and fixed income markets impact IPO and M&A activity and market-driven revenues (FX, investment banking revenue and commissions and warrant and investment gains) Affects margins and client acquisition Directly impacts NIM via lending and reinvestment yields vs. funding costs Client investment fees move with shortterm rates New administration will influence economic policy and stimulus, business and market sentiment, global trade relationships, bank regulations and corporate taxes Q4 2020 Financial Highlights 17#18Outstanding total client funds growth on strong fundraising and exit activity Expect FY'21 average deposit % growth in the mid 40s ● • Average client funds surged $24.3B (periodend +$31.5B) with growth across all portfolios • GFB average deposits +$4.2B (period-end +$2.1B) as funds prepared for seasonal distributions ● ● Q4'20 activity Strong technology and life science public and private fundraising and exit activity left clients awash with liquidity ● ● Average cost of deposits held steady at 4 bps and share of noninterest bearing deposits increased slightly to 66.7% FY'21 outlook key drivers Strong average client funds growth, both on and offbalance sheet Deposit growth may be impacted by: + Strong PE/VC investment Increases technology and life science/healthcare clients' liquidity New client growth Continued strong client acquisition Potential slowdown in public markets activity Normalizing activity in 2021 as deals were possibly pulled forward in 2H'20 PE/VC distributions Expected in 1H'21 Normalizing client spending As business activity recovers Total cost of deposits and share of interestbearing deposits expected to remain steady svb > AVERAGE CLIENT FUNDS $ Billions +44% yoy 156.8 20.5 65.9% 165.4 20.5 0.31% 41.3 Q4'19 177.2 21.8 46.1 0.24% 39.6 96.6 103.6 109.3 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 66.9% 67.9% 201.2 26.1 0.03% 51.5 AVERAGE DEPOSIT MIX AND PRICING 123.6 225.5 30.8 Deposits 61.6 Deposits 133.1 Q1'20 Q2'20 Q3'20 66.4% 66.7% 0.04% 0.04% Interest-Bearing Q4'20 Noninterest-Bearing Off-Balance Sheet Client Funds Percent of Noninterest-Bearing Deposits Total Cost of Deposits Q4 2020 Financial Highlights 18#19Robust growth in interest-earning assets as deposit inflows drive significant securities purchases and elevated cash balances FY'21 key drivers • Continue to invest excess on-balance sheet liquidity in high-quality securities - focused on supporting yields and preserving liquidity and flexibility ● ● Q4'20 activity Purchased $11.4B securities (1.24% weighted average yield, 4.5y duration) vs. roll-offs of $2.8B at 2.27% Purchases included agency-issued MBS/CMOS/CMBS and high-quality munis with attractive risk-adjusted returns Despite significant purchase activity, exceeded average cash target of $7-9B due to surge in deposits ● • $23M net premium amortization expense included $12.7M onetime benefit (+12 bps impact to portfolio yield) due to change in prepay assumptions¹ AVERAGE FIXED INCOME INVESTMENT SECURITIES $ Billions 2.58% 2.53% 2.49% Tax-effected Yield 26.7 27.1 25.8 Q4'19 Portfolio Duration 3.9y 3.2y svb > AVERAGE CASH AND EQUIVALENTS $ Billions 6.6 Q1'20 Q2'20 Q3'20 Q4'20 3.4y 4.1y 3.7y 7.3 2.14% 11.9 32.6 1.98% 41.4 13.8 15.9 ● ● ● Continue to buy agency-issued MBS/CMOS/CMBS and munis Expect average FY'21 fixed income portfolio yield to be between 1.60-1.70% Low new purchase yields Expect new purchase yields ~1.20-1.30% - still accretive to NII Roll-offs mitigated by previous efforts to extend duration-expect -$2.5B-$3.0B paydowns per quarter through 2021 High-quality alternative investments In addition to munis, select purchases of strong creditquality corporate bonds and nonagency securitized products Maintain strong levels of liquidity while macroeconomic environment remains uncertain: $7-9B Target average cash balance² Through end of 2021 $52.8B Borrowing capacity $4B repo, $1.9B Fed Lines, $6.7B FHLB & FRB and $40.3B of unpledged securities as of 12/31/20 $1.3B Unrealized fixed income gains³ Provide potential source of earnings support $0.7B HoldCo liquidity As of 12/31/20, a portion of which can be downstreamed to Bank to support growth Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 1. $12.7M acceleration of discount accretion due to an increase in expected prepayments for fixed-rate commercial mortgage- backed securities in our held-to-maturity portfolio. 2. Actual balances depend on timing of fund flows. 3. Consists of $668M unrealized pretax gains in the available-for-sale portfolio and $624M unrealized pretax gains in the held-to- portfolio as of December 31, 2020. Amounts actually realized are subject to various factors and may differ from unrealized amounts. Q4 2020 Financial Highlights 19#20Flexible liquidity management strategy supports strong, profitable growth Robust liquidity solutions to meet clients' needs $92B Q4'20 AVERAGE ON-BALANCE SHEET DEPOSITS 40+ LIQUIDITY MANAGEMENT PRODUCTS Continue to support client funds growth, both on and off-balance sheet, while optimizing pricing and mix On vs. off-balance sheet considerations Spread income Liquidity Bank tier 1 leverage ratio svb > Target range 75-100 bps minimum target spread between new purchase yields and deposit costs $7-9B average cash target¹ $133B Q4'20 AVERAGE OFF-BALANCE SHEET CLIENT FUNDS 7-8% internal target Flexibility Continued product development TO BETTER SERVE CLIENTS -1.20-1.30% expected new purchase yields 4 bps cost of deposits enables healthy margins Focused on supporting yields and preserving liquidity and flexibility given uncertain macroeconomic environment -$2.5B-$3.0B expected portfolio cash flows per quarter through 2021 $52.8B borrowing capacity as of 12/31/20 $1.3B unrealized fixed income gains provide potential source of earnings support 1. Actual balances depend on timing of fund flows. 2. Consists of $668M unrealized pretax gains in the available for-sale portfolio and $624M unrealized pretax gains in the held-to-portfolio as of December 31, 2020. Amounts actually realized are subject to various factors and may differ from unrealized amounts. $0.7B HoldCo liquidity as of 12/31/20, a portion of which can be downstreamed to Bank Q4 2020 Financial Highlights 20#21Robust loan growth as private equity investment accelerates Expect FY'21 average loan % growth in the mid 20s Q4'20 activity Q4 average loans +11% qoq (periodend loans +18%)¹ as PE clients resumed deal activity, driving record high capital call line borrowing • Low rates continued to fuel strong Private Bank mortgage growth Period-end tech and life science/HC loans +$455M qoq; paydowns from strong liquidity impacted average balances ● ● ● • $16M interest rate swap gains² and $22B average active loan floors in Q4 continued to benefit loan yields AVERAGE LOANS $ Billions Portfolio Utilization Other Wine Tech and Life Science/HC Private Bank Global Fund Banking 3.93% Q3'20 Loan Yield svb> AVERAGE LOAN YIELD 0.01% 57.6% LIBOR 32.0 9.7 3.7 16.8 Q4'19 59.7% 33.7 9.9 3.9 18.0 56.8% (0.05%) Loan Fees (excluding SBA PPP) 36.5 11.5 4.0 17.7 0.07% SBA PPP 55.9% 3 37.3 11.3 4.3 18.2 Q1'20 Q2'20¹ Q3'20¹ Q4'20¹ 58.6% (0.10%) Loan Mix 41.5 11.1 4.6 22.1 3.86% Q4'20 Loan Yield Loan growth may be impacted by: + FY'21 outlook key drivers + Strong PE/VC investment Expected to drive robust capital call line growth for FY'21; maturities in 1H'21 Robust tech and life science/HC lending pipelines Expected to offset paydowns from ample liquidity Strong Private Bank mortgage origination Due to low mortgage rates SBA PPP forgiveness ~$1.6B SBA PPP loans outstanding as of 12/31/20-estimate ~$1.1B forgiveness in Q1'214 Loan yields expected to be impacted by: Rate protections $22B active loan floors as of 12/31/20 and $179M remaining locked-in swap gains² SBA PPP forgiveness ~$1.6B SBA PPP loans outstanding as of 12/31/20- estimate ~$1.1B forgiveness in Q1'214 Shifting loan mix Towards lower yielding Global Fund Banking capital call lines Spread compression Increasing competition as economy recovers 1. Q4'20 loan growth excluding SBA PPP was 12% (average) and 19% (period-end). SBA PPP loans contributed -$1.7B to Q4'20 average loans, $1.8B to Q3'20 average loans and -$1.4B to Q2'20 average loans. 2. Unwound $5B swaps in Q1'20 resulting in $227M pretax fair value gains in OCI to be reclassified to loan interest income over -5 years based on the timing of cash flows from hedged variable-rate loans. 3. SBA PPP contributed $14.3M to net interest income, including $9.9M of loan fees. 4. Estimate only, subject to SBA PPP terms; amounts actually forgiven and timing of forgiveness may differ. Excludes impact of PPP 2.0. Q4 2020 Financial Highlights 21#22Strong balance sheet growth drives NII above guided range despite low rate environment Expect FY'21 NII % growth in the low 20s¹ and FY'21 NIM between 2.20-2.30% Q4'20 activity NET INTEREST INCOME¹ $ Millions 531.7 Q3'20 NII 2.53% NET INTEREST MARGIN Q3'20 NIM 61.7 svb> Balance Sheet Growth (0.14%) Balance Sheet Growth 4.6 SBA PPP² (0.01%) (1.5) Lower Fixed Income Yields³ Lower Fixed Income Yields 3 Surge in deposits drove significant securities purchases and high cash balances, pressuring NIM 0.02% 596.5 SBA PPP² Q4'20 NII 2.40% Q4'20 NIM • NII and NIM expected to be impacted by: + + + FY'21 outlook key drivers + Balance sheet growth (positive for NII, negative for NIM) Driven by strong client liquidity Rate protections $22B active loan floors as of 12/31/20 Swaps expected to offer~5 bps of NIM protection in 2021¹ SBA PPP program Q1'21 NII includes ~$16-18M of estimated SBA PPP loan interest and fees, net of deferred loan origination costs (+4 bps impact to NIM) Reduction in average cash balances To $7-9B target by end of 2021 (actual balances depend on timing of fund flows) Low new purchase yields While previous efforts to extend duration mitigate rolloffs, still expect $2.5B-$3.OB paydowns per quarter through 2021 Shifting loan mix Towards lower yielding Global Fund Banking capital call lines Spread compression Increasing competition as economy recovers 1. NII is presented on a fully taxable equivalent basis, while NII guidance excludes fully taxable equivalent adjustments. 2. SBA PPP contributed $14.3M to net interest income, including $9.9M of loan fees 3. Includes $12.7M acceleration of discount accretion due to an increase in expected prepayments for fixedate commercial mortgage- backed securities in our held-to-maturity portfolio, benefiting fixed income portfolio yields by 12 bps and NIM by 5 bps. 4. Unwound $5B swaps in Q1'20 resulting in $227M pretax fair value gains in OCI to be reclassified to loan interest income over 5 years based on the timing of cash flows from hedged variablerate loans. $179M locked-in gains remain as of December 31, 2020. 5. Based on SBA PPP forgiveness expectations. Estimate only, subject to SBA PPP terms; amounts actually forgiven and timing of forgiveness may differ. Excludes impact of PPP 2.0. Q4 2020 Financial Highlights 22#23Robust earnings power in a low rate environment 1. Strong balance sheet growth has historically offset low rates to fuel NII NII (In Millions) 7.19% 5.02% $377 2007 5.72% svb > 1.92% $371 2008 $603M Core fee income¹ 2020 3.73% NIM -Average Fed Funds Rate 2009 3.08% $384 $420 0.16% 0.18% 2010 3.08% $118M SVB Leerink pre-tax income 2020 $528 0.10% 2011 3.19% $620 0.14% 2012 3.29% 2.81% $699 $858 0.11% 2013 0.09% $572M Warrant and investment gains net of NCI¹ 2020 2014 $1,152 $1,008 2.57% 0.13% 2015 2.72% 0.39% $179M Remaining swap gains² 12/31/20 2016 $1,903 $1,423 3.57% 3.05% 1.00% 2017 $223M Loan floors MTM value³ 12/31/20 1.83% 2018 2. Business diversification and protective measures to support earnings 1. Non-GAAP financial measure. See "Use of nonGAAP financial measures" in our Q4 2020 Earnings Release and our no GAAP reconciliations at the end of this presentation. 2. Unwound $5B swaps in Q1'20 resulting in $227M pretax fair value gains in OCI to be reclassified to loan interest income over -5 years based on the timing of cash flows from hedged variableate loans. 3. Mark-to-market value of $22B active loan floors (3.57% weighted average floor rate, 1.ear weighted average duration). 4. Management's sensitivity analysis is based on the expected 12month impact of a +100 bp rate shock on net interest income. Thiss an estimate and is subject to assumptions; actual results may differ. Additional information will be included in our 2020 FormD¹K report. $2,109 3.51% 2.16% 2019 + 3. Potential upside to securities purchase yields in 2021 if intermediate (35y) rates rise; +15% asset sensitivity to a +100 bp parallel shift in rates $2,156 2.67% 0.33% 2020 Continued investments to drive revenue growth Q4 2020 Financial Highlights 23#24Improved economic scenarios and continued strong Private Bank performance drive reserve release; Expect 2021 NCOs to be between 20-40 bps Q4'20 activity • Released $78M of performing reserves based on improved model economic scenarios and continued strong performance from Private Bank portfolio • Vast majority of deferrals expired with clients resuming payments (only 1.8% of total loans remaining in deferral) Stable credit metrics as innovation markets remained resilient Low gross charge-offs ($22.5M) consisting primarily of Investor Dependent loans and strong recoveries ($12.8M) • NPLs decreased modestly to $104M vs. $106M in Q3'20 Criticized loans declined $185M qoq to $1.2B (3% of Q4 EOP loans) ● ● ● PROVISION FOR CREDIT LOSSES $ Millions 17 16 (7) Q4'19 0.18% 0.31% 47 (3) svb > 243 191 41 Q1'20 0.35% 0.15% 6 11 (6) 66 26 15 24 (5) Q2'20 0.12% 0.26% 6 2 10 23 (5) (82) 19 23 (78) (52) (38) Q3'20 Q4'20 0.26% 0.28% 0.09% 0.23% Market conditions Unfunded 2 Net credit losses Non-performing loans Loan composition Net charge-offs¹ Non-performing loans² 1. Net loan charge-offs as a percentage of average total loans (annualized). 2. Non-performing loans as a percentage of periodend total loans. ● FY'21 outlook key drivers Changes in economic outlook could drive volatility in provision: Current COVID-19 economic scenarios Moody's December forecasts Credit performance drivers: + + 40% baseline + 30% downside 30% upside Potential for higher Tech & Life Science/Healthcare NPLs and losses Near-term challenges remain with delayed vaccine distributions, continued COVID-19 spread and extended shutdowns If higher NPLs and losses occur, expect these to be primarily driven by Early- Stage and some Mid and LaterStage and Cash Flow dependent loans in 2H'21 Continued investor support and additional stimulus Record VC investment and fundraising in 2020 bode well for continued investor support in 2021 SBA PPP 2.0 and additional fiscal stimulus may help extend client runway Improved risk profile of loan portfolio Early-Stage - most vulnerable segment of Investor Dependent portfolio that historically has produced the most losses- now only 3% of loans 68% of loans in low credit loss experience segments (GFBand Private Bank) Limited exposure to industries most severely impacted by efforts to combat COVID-19 No direct exposure to oil and gas Limited indirect exposure to retail, travel and hospitality Wine clients adapting well to COVID-19 environment Q4 2020 Financial Highlights 24#2568% of loan portfolio in low credit loss experience Global Fund Banking and Private Bank segments TOTAL LOANS $45.2B at 12/31/20 1 Global Fund Banking ("GFB") 57% svb > Early-Stage ID 3% Mid-Stage ID Private Bank 11% 3% Later-Stage ID 4% Sponsor Led Buyout CFD 4% * Other includes SBA PPP (3% of total loans). Other CFD 7% Balance Sheet Dependent 5% Other* 4% Premium Wine 2% ALLOWANCE FOR CREDIT LOSSES FOR LOANS $448M at 12/31/20 Premium Wine 2% ID = Investor Dependent CFD Cash Flow Dependent Balance Sheet Dependent 8% Low Credit Loss Experience Segments Technology & Life Science /Healthcare GFB 10% Private Bank 12% Other CFD 9% Early-Stage ID 19% Mid-Stage ID 11% Later-Stage ID 18% Sponsor Led Buyout CFD 11% Q4 2020 Financial Highlights 25#26Strong levels of reserves to withstand changing market conditions Reserve release driven by improved economic scenarios and continued strong Private Bank performance Tech & LS / HC Moody's December forecasts (40% baseline, 30% downside, 30% upside) Economic scenarios improved (Baseline: Peak unemployment of ~7% in Q2'21 and 1 year GDP growth of 4.1%) Loss modeling does not include impact of fiscal stimulus or relief programs In thousands Early-Stage Investor Dependent Mid-Stage Investor Dependent Later-Stage Investor Dependent Balance Sheet Dependent Cash Flow Dep: Sponsor Led Buyout Cash Flow Dep: Other Private Bank Global Fund Banking Premium Wine Other ACL for loans ACL for unfunded credit commitments ACL for loans and unfunded credit commitments svb > ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND UNFUNDED CREDIT COMMITMENTS $ Millions 614 6.97% 3.84% 4.85% 1.71% 2.51% 1.55% 1.73% 0.20% 0.96% 0.18% 1.34% 0.33% 0.90%* 513 101 ACL 9/30/20 (%) ACL 9/30/20 102,559 62,418 97,711 29,069 51,661 40,321 76,479 38,989 10,405 3,346 $512,958 $101,515 $614,473 23 13 10 Changes in loan composition/growth Changing credit quality Charge-offs/recoveries Portfolio Changes (538) (10,744) (9,714) 7,722 6,535 3,772 5,417 10,700 (718) 248 $12,680 $9,831 $22,511 * Weighted average ACL ratio for loans outstanding and unfunded credit commitments. (68) (78) 10 Improved Moody's economic scenarios Additional qualitative adjustment for Private Bank reserves given strong performance Model Assumptions (15,347) (3,510) (9,478) (1,140) (9,098) (4,593) (28,267) (4,105) (940) (1,395) 569 448 121 ACL 12/31/20 ACL 12/31/20 (%) 86,674 48,164 78,519 35,651 49,098 39,500 53,629 45,584 8,747 2,199 $(77,873) $447,765 $9,450 $120,796 $(68,423) $568,561 5.83% 3.08% 4.09% 1.63% 2.47% 1.34% 1.09% 0.18% 0.83% 0.14% 0.99% 0.38% 0.74%* ~6% average Early-Stage NCOS over 2008-2010 VS. ◄ -67% of internal 9-quarter stress losses Q4 2020 Financial Highlights 26#27Increased business activity drives core fees higher despite low rate impact on client investment fees; Expect 2021 core fees to be consistent with 2020 Q4'20 activity • Record FX fees (+16% qoq) driven primarily by hedging and PE deal activity Lending fees +45% on fees earned from unused lines of credit (due to strong client liquidity) • New clients, deepening penetration and higher utilization drove Card fees +12% • Deposit fees +5% on strong deposit growth and transaction volumes Client investment fees -22% despite surge in balances as fee margin, which adjusts with short-term rates, decreased by 3 bps to 7 bps Standby letter of credit fees -6% from slowdown in commercial real estate ● ● ● CORE FEE INCOME* $ Millions Core Fee Income as % of Total Revenue FX Fees Credit Card Fees Client Investment Fees Deposit Service Charges Lending Related Fees LOC Fees svb> 20% 168.1 168.5 42.4 32.3 45.2 23.7 13.1 11.4 20% Q4'19 47.5 132.5 28.3 43.5 24.6 15% 13.1 11.5 36.3 21.3 31.9 20.5 11.1 11.4 14% 13% 146.3 43.9 22.8 31.9 22.0 13.5 12.2 155.9 51.1 25.4 25.0 23.2 19.7 11.5 Q1'20 Q2'20 Q3'20 Q4'20 • Core fees to be impacted by: + + + FY'21 outlook key drivers Recovering business activity Gradual improvement, though watching pace of vaccine distributions, COVID-19 spread and shutdowns New client growth Continued strong client acquisition Deepening client engagement From investments in new products and client experience Lower client investment fees Despite strong growth in balances as fee margin bottoms at mid high single digits in Q1'21 due to nearzero rates FX seasonality Typically slower in first half of the year RECENT ENHANCEMENTS FX Simplified user experience Trading and platform automation 80% target straight through processing * Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 8 Cards Automated underwriting Rewards and rebates Expense management and controls Full online experience Liquidity Custom solutions 40+ liquidity management products Q4 2020 Financial Highlights 27#28Continued strong SVB Leerink performance Expect 2021 SVB Leerink revenue to be between $320M-$360M SVB Leerink expands our solutions for life science/healthcare clients Equity Capital Markets Research Convertibles BIOPHARMA & DIAGNOSTICS svb> SVBLEERINK MEDICAL DEVICES Ka M S M&A Expertise Ju www.s Sales & Go Trading HEALTHTECH & HEALTHCARE IT Alternative Equities HEALTHCARE SERVICES ● Q4'20 activity SVB Leerink continued to capitalize on strong markets (24 bookrun transactions in Q4, representing over $5.9B in aggregate deal value) SVB LEERINK REVENUE* $ Millions Commissions Investment Banking SVB Leerink expenses* 73.7 15.5 58.2 62.9 16.0 46.9 158.4 16.9 141.5 108.4 16.2 Q4'19 Q1'20 Q2'20 Q3'20 $75.0M $62.0M $108.7M $77.6M Investment banking revenue Normalizing activity in 2021 * Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 92.2 FY'21 outlook key drivers Shifting conditions may create volatility for market sensitive revenues: Commissions revenue Sales and trading may benefit from market volatility Strengthening collaboration Between Silicon Valley Bank and SVB Leerink 150.9 17.4 133.4 Q4'20 $130.7M Q4 2020 Financial Highlights 28#29Outsized warrant and investment gains from strong exits and valuations Gains will fluctuate with changes in valuation and market conditions ● Q4'20 activity Robust client IPO, SPAC and M&A activity and improved valuations drove strong warrant and investment gains Q4 investment gains included $21.7M net losses from decline in BIGC stock price¹ WARRANT AND INVESTMENT GAINS NET OF NCI² $ Millions Warrant gains Investment Securities gains svb> 47.2 30.9 16.3 61.0 13.4 47.6 Q4'19 Q1'20 47.0 26.5 20.5 215.8 53.8 162.0 247.9 143.8 104.1 Q2'20 Q3'20 Q4'20 ● FY'21 key drivers Shifting conditions may create volatility for marketsensitive revenues: + $ Millions Warrants Valuations of warrants and non-marketable and other equity securities Will fluctuate with market conditions, but offer meaningful long-term earnings support Non-marketable and other equity securities³ +- + + 165.5 152.7 171.1 606.5 555.5 590.4 202.2 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Unrealized fixed income gains Potential source of earnings support4 818.1 Carried interest from 14M Root, Inc. shares held by SVB Capital funds 1. Unrealized gains related to BIGCommerce, Inc. ("BIGC") or Root, Inc. common stock are subject to these companies' stock price market conditions and other factors and will not be realized until shares are sold. Timing of sales, if any, is subject to marke conditions and other factors. 203.4 Estimate $24.8M pretax gains from carried interest, subject to funds' performance¹ 2. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our noRGAAP reconciliations at the end of this presentation. 972.6 Expiring BIGC lock-up agreements On 2/11/21; realization of gains dependent on sale of BIGC position (2.4M shares)¹ 3. Net of investments in qualified affordable housing projects and noncontrolling interests. 4. Consists of $668M unrealized pretax gains in the availablefor-sale portfolio and $624M unrealized pretax gains in the held-to- maturity portfolio as of December 31, 2020. Amounts actually realized are subject to various factors and may differ from unrealized amounts. Q4 2020 Financial Highlights 29#30Net warrant gains more than offset Early-Stage charge-offs over time and offer meaningful earnings support WARRANT GAINS NET OF EARLY-STAGE LOSSES $ Millions -3 -13 8 3 0 svb > 3 -2 22 23 -7 -10 2002 2003 2004 2005 2006 2007 -16 0 7 -58 2008 2009 2010 37 2011 19 46 -21 -26 71 -30 2012 2013 2014 -12 38 55 -35 -45 2015 2016 2017 89 -28 2018 138 -23 $499M Cumulative net gains (2002-2020 Warrant gains less Early-Stage NCOs) 237 -27 2019 2020 Net Gains on Equity Warrant Assets Early-Stage NCOS Q4 2020 Financial Highlights 30#31Outstanding performance and real estate charges drive Q4'20 expenses higher than guidance Expect FY'21 expense % growth in the low single digits ● ● Q4'20 activity Outstanding firmwide and SVB Leerink performance and warrant gains drove higher incentive compensation Incurred $29M real estate charges to optimize footprint as we adapt to increased remote work post COVID-19 Other expenses included $20M donation of SBA PPP fees (net of costs incurred) NONINTEREST EXPENSES $ Millions Core Operating Efficiency Ratio* Other Occupancy BD&T Premises and Equipment Professional Services Compensation and benefits Average FTES svb > 53.8% 461 53 20 24 72 275 Q4'19 3,522 17 47.7% 400 46 18 27 39 256 Q1'20 3,672 14 55.7% 480 46 19 3 28 64 320 56.9% 491 45 19 31 67 327 2 Q2'20 3,855 4,216 62.7%* 665 81 45 42 77 416 Q3'20 Q4'20 4,419 4 Expenses expected to be impacted by: + + FY'21 outlook key drivers I SVBFG incentive compensation expenses (positive for Q1'21, negative for FY'21) Q1'21 firm incentive compensation expected to decrease qoq following strong performance in Q4'20 FY'21 firm incentive compensation expected to increase as business activity improves SVB Leerink expenses FY'21 SVB Leerink expenses expected to declineas public markets activity normalizes Reduced real estate footprint Occupancy expense to decline as more colleagues work from home Continued investment in strategic priorities To capture compelling long-term growth opportunity of our markets (see slide 11) Boston Private integration planning Integration planning costs incurred ahead of close date Regulatory costs Related to Large Financial Institution and UK Subsidiarization requirements Business Development & Travel ("BD&T") expense As travel restrictions are lifted and in-person events resume in 2H'21 * Core operating efficiency ratio excludes the impact of SVB Leerink and net gains or losses from investment securities and quity warrant assets. This is a non-GAAP measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. Q4'20 core operating efficiency ratio excludes $29M real estate expenss and $20M SBA PPP donation. Q4 2020 Financial Highlights 31#32Final thoughts Resilient, thriving markets Executing on our vision svb > Innovation is driving economic growth, and COVID-19 has accelerated digital adoption and activity in healthcare Robust liquidity Consistent progress and bold steps to advance and expand our platform to be the goto financial partner of the innovation economy Substantial PE/VC dry powder and strong demand for alternative assets provide fuel for longterm growth Cautiously optimistic on credit Long-term focus Well positioned for long-term growth Solid credit performance to date and COVID-19 vaccines position broader economy for eventual recovery; near-term uncertainty persists Continue to invest to extend our leadership position and drive long-term growth and operating leverage Robust earnings power with resilient, thriving markets providing tailwinds for sustainable growth Q4 2020 Financial Highlights 32#33Appendix Q4 2020 Financial Highlights 33#34The bank of the global innovation economy For over 35 years, we have helped innovators, enterprises and their investors move bold ideas forward, fast. TAT Accelerator (Early-Stage) Revenue <$5M ~50% svb > Technology & Life Sciences/Healthcare A Growth Revenue $5M-$75M Our mission is to increase clients' probability of success. We bank: Corp Fin Revenue >$75M U.S. venture-backed technology and life science companies Investors Private Equity Venture Capital 68% Individuals Influencers: Entrepreneurs, Investors, Executives U.S. venture-backed technology and healthcare companies with IPOs in 2020 Q4 2020 Financial Highlights 34#35Differentiated business model Deep sector expertise HARDWARE & INFRASTRUCTURE A ENERGY & RESOURCE INNOVATION Unparalleled access, connections and insights to make NEXT happen NOW FUNDS MANAGEMENT svb > SOFTWARE & INTERNET Comprehensive solutions GLOBAL COMMERCIAL BANKING PRIVATE EQUITY & VENTURE CAPITAL INVESTMENT SOLUTIONS PRIVATE BANKING & WEALTH MANAGEMENT 2+5 LIFE SCIENCE & HEALTHCARE PREMIUM WINE RESEARCH & INSIGHTS INVESTMENT BANKING K 233 000 At the center of the innovation ecosystem PRIVATE EQUITY ENTREPRENEURS VENTURE MANAGEMENT CAPITAL TEAMS CORPORATE R&D VENTURING UNIVERSITIES ANGEL GOVERNMENT INVESTORS SERVICE CAPITAL MARKETS PROVIDERS Q4 2020 Financial Highlights 35#36Key performance indicators ROE and EPS Return 10.9% on Equity Diluted EPS Net Interest Margin $7.31 Interest Income 2.72% Net 1.2 12.4% $9.20 NET INTEREST INCOME AND NIM $ Billions svb > 20.6% 20.0% 2016 2017 2018 2019 2020 3.05% $18.11 1.4 $21.73 3.57% 3.51% 1.9 16.83% $22.87 2.1 2.67% 2.2 2016 2017 2018 2019 2020 AVERAGE TOTAL LOANS $ Billions 18.3 316 21.2 379 25.6 2016 2017 2018 2019 2020 CORE FEES AND SVB LEERINK REVENUE¹ $ Millions 516 894 29.9 252 642 1,084 481 37.3 603 2016 2017 2018 2019 2020 SVB Leerink Revenue (Investment Banking Revenue and Commissions) Core Fee Income 1. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 2. Non-performing loans as a percentage of period-end total loans. 3. Net loan charge-offs as a percentage of average total loans. AVERAGE TOTAL CLIENT FUNDS $ Billions Average Deposits Average 38.8 Client Investment Funds NPLs² 82.2 NCOs³ 94.2 43.4 51.5 42.7 0.59% 0.46% 123.2 NET CHARGE-OFFS AND NON-PERFORMING LOANS 48.1 75.1 146.7 0.51% 55.1 91.6 2016 2017 2018 2019 2020 192.4 0.27% 0.22% 0.24% 0.34% 0.32% 75.0 117.4 Q4 2020 Financial Highlights 0.23% 0.20% 2016 2017 2018 2019 2020 36#37Strong balance sheet position 44% loan-to-deposit ratio provides ample cushion to meet clients' borrowing needs PERIOD-END ASSETS $ Billions 44.7 2016 svb > 27% CAGR 51.2 56.9 Cash and high-quality fixed income securities 56% of total assets 71.0 115.5 2017 2018 2019 2020 Other Assets Non-marketable Securities (primarily VC & LIHTC investments) Held-to Maturity Securities Available-for- Sale Securities Cash and Cash Equivalents Net Loans PERIOD-END LIABILITIES $ Billions 40.9 2016 27% CAGR 46.9 2017 51.7 Deposits 95% of total liabilities 64.4 2018 2019 107.1 2020 Other Liabilities Borrowings Interest-bearing Deposits Noninterest- bearing Deposits Q4 2020 Financial Highlights 37#38Strong liquidity franchise Uniquely positioned to support balance sheet growth Liquidity management 1 solutions for both on and off-balance sheet funds Q4'20 AVERAGE BALANCES $225.5B TOTAL CLIENT FUNDS $92.4B ON-BALANCE SHEET DEPOSITS $133.1B OFF-BALANCE SHEET CLIENT FUNDS 40+ liquidity management products to meet clients' needs and optimize pricing and mix svb> 2 DEPOSITS 21% 16% 2% Diversified sources of liquidity from high-growth markets 2% 3% 1% 16% 12% OBS CLIENT FUNDS 1% 8% 25% 24% 21% 15% 33% CLIENT NICHE¹: Early-Stage Technology Technology Early-Stage Life Science/ Healthcare Life Science/ Healthcare International² U.S. Global Fund Banking Private Bank Other 3 Low cost deposits Q4'20 AVERAGE COST OF DEPOSITS 4 bps SVB 1. As of December 31, 2020. Represents management view of client niches. 2. International balances do not tie to regulatory definitions for foreign exposure. Includes clients across all client niches and life-stages, with International Global Fund Banking representing 4% of total client funds. 3. Source: S&P Global Market Intelligence average for 12 of the top 50 US banks by asset size as of January 19, 2021. 4. Percentage based on Q4'20 average balances. 15 bps TOP 50 BANKS³ 67% of total deposits are noninterest-bearing4 Q4 2020 Financial Highlights 38#39High-quality and liquid investment portfolio U.S. Treasuries and agency-backed securities make up 92% of fixed income portfolio PERIOD-END AVAILABLE-FOR-SALE SECURITIES $Billions 12.6 2016 11.1 svb > 2017 7.8 2018 14.0 2019 30.9 2020 U.S. Treasury securities U.S. agency debentures Agency-issued collateralized mortgage obligations - fixed rate Agency-issued collateralized mortgage obligations - variable rate PERIOD-END HELD-TO- MATURITY SECURITIES $ Billions 8.4 2016 12.7 2017 Opportunistically buying high-quality munis and will selectively purchase strong credit-quality corporate bonds and nonagency securitized products to support portfolio yields 15.5 2018 13.8 2019 16.6 2020 Agency-issued residential mortgage-backed securities Municipal bonds and notes Agency-issued commercial mortgage-backed securities Foreign government bonds Q4 2020 Financial Highlights 39#40Long history of strong, resilient credit We've successfully navigated economic cycles before and our risk profile has improved NON-PERFORMING LOANS & NET CHARGE-OFFS NPLs¹ NCOs² 3.32% 1.07% 1.02% 1.03% 0.97% Dotcom Bubble Crash IMPROVED LOAN MIX % of period- end total loans svb > 0.62% 0.64% [1 -0.08% 0.25% 0.26% 0.10% 0.04% 0.31% 0.18% 10.14% 2000 30% Early-Stage 5% GFB + Private Bank 1.57% 0.35% 1.15% 0.87% 2.64% 1. Non-performing loans as a percentage of period-end total loans. 2. Net loan charge-offs as a percentage of average total loans. 0.71% 0.77% 0.52% 0.42% -0.02% 0.47% 0.31% 2009 11% Early-Stage 30% GFB + Private Bank 0.73% 0.59% 0.32% 0.33% 0.27% 0.30% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Global Financial Crisis 0.51% 0.46% 0.34% 0.27% 0.22% 0.32% 0.23% 0.24% 0.20% 2020 3% Early-Stage 68% GFB + Private Bank Q4 2020 Financial Highlights 40#41Improved risk profile, with growth driven by lowest risk portfolio segments 68% of loans in Global Fund Banking and Private Bank, segments with lowest historical credit losses PERIOD-END TOTAL LOANS $ Billions Early-Stage ID % of total loans 11% 4.5 2009 10% 5.5 2010 8% 7.0 2011 9% 8.9 2012 svb > * Includes $1.6B of SBA PPP loans. 9% 10.9 2013 Early-Stage Investor Dependent ("ID") loans, our highest risk segment, now only 3% of total loans, down from 11% in 2009 and 30% in 2000 8% 14.4 2014 6% 16.7 2015 6% 19.9 2016 23.1 6% 2017 28.3 6% 2018 33.2 5% 2019 45.2 3% 2020 Other* Technology and Life Science/Healthcare Premium Wine Private Bank Global Fund Banking Q4 2020 Financial Highlights 41#42Low credit risk capital call lines of credit Largest driver of loan growth over past 7 years; strong underwriting and welldiversified Global Fund Banking portfolio² Global Fund Banking capital call lending Short-term lines of credit used by PE and VC funds to support investment activity prior to the receipt of Limited Partner capital contributions BY INVESTMENT STYLE 55%¹ of total loans Zero net losses since inception (1990s) Strong sources of repayment % LIMITED PARTNER COMMITMENTS and robust secondary markets svb > % VALUE OF FUND INVESTMENTS with solid asset coverage PE Funds BY INDUSTRY VC funds Real Estate Debt Other 1. Global Fund Banking ("GFB") portfolio is 57% of total loans. Capital call lines represent 96% of GFB portfolio. 2. Based on total GFB loan commitments (funded + unfunded) as of December 31, 2020. 5% 9% Industrial 18% 10% Infrastructure Natural Resources FinTech 4% Life Sciences 10% Real Estate 7% 6% Energy Other 6% 16% 10% Consumer 23% Growth Fund of Funds 19% Buyout 15% 37% Technology Debt Q4 2020 Financial Highlights 42#43Supporting innovation around the world 2020 VC investment by market* SVB Financial Group's offices SVB Financial Group's international banking network Expanding our platform globally U.K. 2004 London Full-service branch (2012) svb > China 2005 Shanghai Beijing (2010) Business development Israel 2008 Tel Aviv Business development * As of December 31, 2020. Source: Pitch Book. $168B $50B AMERICAS EMEA Hong Kong -2009 Business development China 2012 SPD Silicon Valley Bank (JV) Shanghai Additional JV branches Beijing (2017) Shenzhen (2018) Europe 2016 $89B APAC Ireland (2016) Business development Germany (2018) Lending branch Denmark (2019) Business development Canada 2019 Toronto (2019) Lending branch Vancouver (2020) Business development Q4 2020 Financial Highlights 43#44Growing international activity $5.4B INTERNATIONAL AVERAGE LOANS 14% of total loans $1.5 2016 $6.6 2016 $1.9 svb > 2017 $15.1B INTERNATIONAL AVERAGE DEPOSITS 20% of total deposits 38% CAGR $7.7 2017 $2.8 2018 23% CAGR $10.4 2018 $3.9 2019 $11.6 2019 $5.4 2020 $15.1 2020 $3.3B INTERNATIONAL AVERAGE OBS CLIENT FUNDS 3% of total OBS $1.1 2016 $28.6 $1.4 2016 2017 $75.3M INTERNATIONAL CORE FEE INCOME* 12% of total core fees $33.8 33% CAGR 2017 $2.4 2018 27% CAGR $54.0 2018 Note: Reflects balances for international operations in U.K., Europe, Israel and Asia; Canada balances included in our US Technology Banking segment. This management segment view does not tie to regulatory definitions for foreign exposure. * Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and our non-GAAP reconciliations at the end of this presentation. $3.0 2019 $67.0 2019 $3.3 2020 $75.3 2020 Q4 2020 Financial Highlights 44#45Industry-leading performance Strong return RETURN ON EQUITY on equity Strong total shareholder return svb > 10.90% 8.83% 2016 12.38% 9.77% 2017 TOTAL SHAREHOLDER RETURN² AS OF 12/31/20 20.57% 12.76% 2018 20.03% 11.80% 2019 ma 16.83% 1. Source: S&P Global Market Intelligence. "Peers" refers to peer group as reported in our Proxy Statement for each year and is subject to change on an annual basis. 2020 annualized average peer ROE includes 4 of 17 peers as of January 19, 2021. 2. Cumulative total return on $100 invested on 12/31/15 in stock or index. Includes reinvestment of dividends. 8.11% 2020 SVB Peer Average¹ SVB 3.3x S&P 500 1.8x BKX 1.3x 1/1/2016 7/1/2016 1/1/2017 7/1/2017 1/1/2018 7/1/2018 1/1/2019 7/1/2019 1/1/2020 7/1/2020 12/31/2020 Q4 2020 Financial Highlights 45#46Increasing diversity, equity and inclusion (“DEI") at SVB, with our partners and across the innovation economy Embracing diverse perspectives and fostering a culture of belonging 1 Start with values and culture We start with EMPATHY for others. We speak & act withINTEGRITY. We embrace DIVERSE perspectives. We take RESPONSIBILITY. We keep LEARNING & IMPROVING. T Danie Access to Innovation Our signature program to increase funding for startups founded by women, Black, Latinx or other underrepresented groups and to advance diversity and gender parity in leadership of innovation companies 2 svb > Take a multipronged approach with measurable goals Chief Diversity Officer Employee & executive-led DEI advocacy Steering Committee network Employee awareness programs, regular training & educational opportunities Fair pay Full-time Diversity analysis Recruiting Director Leadership development Hiring outreach programs & strategic partnerships Increase diversity of senior leaders to 56% by 2025 2019 CONTRIBUTIONS 44 Partner organizations focused on furthering DEI in innovation Reach senior leadership gender parity 50/50 by 2030 3 DIVERSITY AT SVB* Diverse (us) Female (Global) Measure and communicate progress Racial Minority (US) $1.6M $1.2M Donated to causes supporting gender parity in innovation Support for diverse, emerging talent in innovation Note: Refer to www.svb.com/living-our-values/inclusion-diversity for more information. Website content/links are not a part of this presentation. * Metrics as of November 30, 2020. Diverse includes (as disclosed to us) any woman, any person of color, veteran or personith disability. Person of color refers to anyone who self identifies as Hispanic/Latino, Black or African American, Asian, American Indian or Native Abkan, Native Hawaiian or Other Pacific Islander or Two or More Races/Other. We utilize this blended measure to include different backgrounds and socialategorizations. Senior leader includes the following job levels: Executive Committee (includes our executive officers) and leaders from certian top levels of SVB's two highest bands of management. Total Senior Workforce Leaders Championing causes that impact access to and dive in the innovation economy Colludes 67% 44% 40% 51% 33% 28% Board Members Q4 2020 Financial Highlights 69% 31% 15% $20M Donated fees (net of costs incurred) received from SBA PPP program to diversity and community efforts in Q4'20 (donations will be managed through the SVB Foundation) 46#47Strong, seasoned management team svb> Diverse experience and skills to help direct our growth Dan Beck CHIEF FINANCIAL OFFICER 3 years at SVB John China PRESIDENT OF SVB CAPITAL 24 years at SVB Michelle Draper CHIEF MARKETING OFFICER 7 years at SVB Michael Zuckert GENERAL COUNSEL 6 years at SVB Greg Becker PRESIDENT AND CEO SVB FINANCIAL GROUP 27 years at SVB Phil Cox CHIEF OPERATIONS OFFICER 11 years at SVB Chris Edmonds- Waters CHIEF HUMAN RESOURCES OFFICER 17 years at SVB Marc Cadieux CHIEF CREDIT OFFICER 28 years at SVB Mike Descheneaux PRESIDENT SILICON VALLEY BANK 15 years at SVB Laura Izurieta CHIEF RISK OFFICER 4 years at SVB 14 years average tenure at SVB Q4 2020 Financial Highlights 47#48Glossary The following terms are used throughout this presentation to refer to certain SVB-specific metrics: Non-GAAP Measures (Please see "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release and non-GAAP reconciliations at the end of this presentation) Core Fee Income - Fees from letters of credit, client investments, credit cards, deposit service charges, foreign exchange and lending- related fees, in aggregate. Core Fee Income plus SVB Leerink Revenue - Core fee income, from above, plus investment banking revenue and commissions. SVB Leerink Revenue and Expenses - SVB Leerink revenue defined as investment banking revenue and commissions and excludes other income earned by SVB Leerink. SVB Leerink expenses represents all SVB Leerink operating and acquisition related expenses. Core Operating Efficiency Ratio - Calculated by dividing noninterest expense after adjusting for noninterest expense from SVB Leerink and NCI by total revenue, after adjusting for gains or losses on investment securities and equity warrant assets, SVBLeerink revenue and NCI. This ratio excludes income and expenses related to SVB Leerink and certain financial items where performance is typically subject to market or other conditions beyond our control. Gains (losses) on Investment Securities, Net of Non-Controlling Interests - Net gains on investment securities include gains and losses from our non-marketable and other equity securities, which include public equity securities held as a result of exercised equity warrant assets, gains and losses from sales of our Available-For-Sale debt securities portfolio, when applicable, and carried interest. This measure excludes amounts attributable to noncontrolling interests for which we effectively do not receive the economic benefit or cost. Other Measures Total Client Funds - The sum of on-balance sheet deposits and off-balance sheet client investment funds. Fixed Income Securities - Available-for-sale ("AFS") and held-to-maturity ("HTM") securities held on the balance sheet. Acronyms API - Application programming interface BD&T - Business development & travel DEI - Diversity, equity and inclusion EOP End of period FHLB - Federal Home Loan Bank FRBFederal Reserve Board GFB - Global Fund Banking (formerly Private Equity/Venture Capital) svb > ID - Investor dependent LIHTC - Low income housing tax credit funds LOC Letter of credit NCI - Non-controlling interests NCO Net charge-off NII Net interest income NIM-Net interest margin NPL - Non-performing loan OBS Off-balance sheet PE/VC- Private equity/venture capital SBA PPP - Small Business Administration Paycheck Protection Program TBV-Tangible book value Q4 2020 Financial Highlights 48#49Non-GAAP reconciliations svb > Q4 2020 Financial Highlights 49#50Non-GAAP reconciliation Core Fee Income Non-GAAP core fee income (dollars in thousands) GAAP noninterest income Less: gains on investment securities, net Less: net gains on equity warrant assets Less: other noninterest income Non-GAAP core fee income plus SVB Leerink revenue Investment banking revenue Commissions Less: total non-GAAP SVB Leerink revenue Non-GAAP core fee income 2016 $456,552 51,740 37,892 50,750 $316,170 $316,170 Year ended December 31, 2017 $557,231 64,603 54,555 59,110 $378,963 $378,963 svb > See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release for more information. 2018 $744,984 88,094 89,142 51,858 $515,890 $515,890 2019 $1,221,479 134,670 138,078 55,370 $893,361 195,177 56,346 251,523 $641,838 2020 $1,840,148 420,752 237,428 98,145 $1,083,823 413,985 66,640 480,625 $603,198 Q4 2020 Financial Highlights 50#51Non-GAAP reconciliation Capital ratios Consolidated (SVBFG) TCE/TA and TCE/RWA Non-GAAP tangible common equity and tangible assets (dollars in thousands, except ratios) GAAP SVBFG stockholders' equity Less: Preferred stock Less: Intangible assets Tangible common equity (TCE) GAAP Total assets Less: Intangible assets Tangible assets (TA) Risk-weighted assets (RWA) Tangible common equity to tangible assets Tangible common equity to risk-weighted assets Bank only TCE/TA and TCE/RWA Non-GAAP tangible common equity and tangible assets (dollars in thousands, except ratios) Tangible common equity (TCE) Tangible assets (TA) Risk-weighted assets (RWA) Tangible common equity to tangible assets Tangible common equity to risk-weighted assets 2016 $3,642,554 $3,642,554 $44,683,660 $44,683,660 $28,248,750 8.15% 12.89% 2016 $3,423,427 $44,059,340 $26,856,850 7.77% 12.75% Year ended December 31, 2017 $4,179,795 $4,179,795 $51,214,467 $51,214,467 $32,736,959 8.16% 12.77% 2017 $3,762,542 $50,383,774 $31,403,489 7.47% 11.98% 2018 svb > See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release for more information. $5,116,209 $5,116,209 $56,927,979 Year ended December 31, $56,927,979 $38,527,853 8.99% 13.28% 2018 $4,554,814 $56,047,134 $37,104,080 8.13% 12.28% 2019 $6,470,307 340,138 187,240 $5,942,929 $71,004,903 187,240 $70,817,663 $46,577,485 8.39% 12.76% 2019 $5,034,095 $69,563,817 $44,502,150 7.24% 11.31% 2020 $8,219,700 340,138 204,120 $7,675,442 115,511,007 204,120 115,306,887 $64,673,434 6.66% 11.87% 2020 $7,068,964 $113,303,370 $61,017,753 Q4 2020 Financial Highlights 6.24% 11.59% 51#52Non-GAAP reconciliation Core Operating Efficiency Ratio (Dollars in thousands, except ratios) GAAP noninterest expense Less: expense attributable to noncontrolling interests Non-GAAP noninterest expense, net of noncontrolling interests Less: expense attributable to SVB Leerink Less: real estate expenses Less: charitable donation of net PPP loan origination fees Non-GAAP noninterest expense, net of noncontrolling interests, SVB Leerink and other non- recurring expenses GAAP net interest income Adjustments for taxable equivalent basis Non-GAAP taxable equivalent net interest income Less: income attributable to noncontrolling interests Non-GAAP taxable equivalent net interest income, net of noncontrolling interests Less: net interest income attributable to SVB Leerink Non-GAAP taxable equivalent net interest income, net of noncontrolling interests and SVB Leerink GAAP noninterest income Less: income attributable to noncontrolling interests Non-GAAP noninterest income, net of noncontrolling interests Less: Non-GAAP net gains on investment securities, net of noncontrolling interests Less: net gains on equity warrant assets Less: investment banking revenue Less: commissions Non-GAAP noninterest income, net of noncontrolling interests and net of net gains on investments securities, net gains on equity warrants assets, investment banking revenue and commissions GAAP total revenue Non-GAAP taxable equivalent revenue, net of noncontrolling interests and SVB Leerink, net of net gains on investments securities, net gains on equity warrants assets, investment banking revenue and commissions GAAP operating efficiency ratio (A/C) Non-GAAP core operating efficiency ratio (B/D) A B 2016 859,797 524 859,273 D 859,273 1,150,523 1,203 1,151,726 66 1,151,660 1,151,660 456,552 8,039 448,513 43,428 37,892 367,193 C 1,607,075 1,518,853 53.50% 56.57% svb > See "Use of non-GAAP Financial Measures" in our Q4 2020 Earnings Release for more information. Year ended December 31, 2017 1,010,655 2018 1,188,193 813 1,009,842 1,009,842 1,420,369 3,076 1,423,445 33 1,423,412 1,423,412 557,231 29,452 527,779 35,416 54,555 437,808 1,977,600 522 51.11% 54.26% 1,187,671 1,187,671 1,893,988 9,201 1,903,189 30 1,903,159 1,903,159 744,984 38,000 706,984 49,911 89,142 567,931 2,638,972 1,861,220 2,471,090 45.02% 48.06% 2019 1,601,262 835 1,600,427 252,677 - 1,347,750 2,096,601 11,949 2,108,550 72 2,108,478 1,252 2,107,226 1,221,479 48,624 1,172,855 86,169 138,078 195,177 56,346 2,804,311 2020 2,035,041 48.26% 48.06% 475 2,034,566 378,970 29,317 20,000 1,606,279 2,156,284 16,230 2,172,514 26 2,172,488 578 2,171,910 697,085 701,437 3,318,080 3,996,432 1,840,148 86,375 1,753,773 334,283 237,428 413,985 66,640 Q4 2020 Financial Highlights 2,873,347 50.92% 55.90% 52#53Important information regarding forward-looking statements and use of non-GAAP financial measures The Company's financial results for 2020 reflected in this presentation are unaudited. This document should be read in conjunction with the Company's SEC filings. Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance, and are subject to known and unknown risks and uncertainties, many of which may be beyond our control. You can identify these and other forward-looking statements by the use of words such as "becoming," "may," "will," "should," "could," "would," "predict," "potential," "continue," "anticipate," "believe," "estimate," "seek," "expect," "plan," "intend," the negative of such words, or comparable terminology. In this presentation, we make forward-looking statements discussing management's expectations about, among other things: economic conditions; the potential effects of the COVID-19 pandemic; opportunities in the market; outlook on our clients' performance; our financial, credit, and business performance, including potential investment gains, loan growth, loan mix, loan yields, credit quality, deposits, noninterest income, and expense levels; financial results; and the proposed acquisition of Boston Private. Although we believe that the expectations reflected in these forward-looking statements are reasonable, we have based these expectations on our current beliefs as well as our assumptions, and such expectations may prove to be incorrect. We wish to caution you that such statements are just predictions and actual events or results may differ materially, due to changes in economic, business and regulatory factors and trends. Our actual results of operations and financial performance could differ significantly from those expressed in or implied by our management's forward-looking statements. Important factors that could cause our actual results and financial condition to differ from the expectations stated in the forward-looking statements include, among others: market and economic conditions (including the general condition of the capital and equity markets, and IPO, M&A and financing activity levels) and the associated impact on us (including effects on client demand for our commercial and investment banking and other financial services, as well as on the valuations of our investments); the COVID-19 pandemic and its effects on the economic and business environments in which we operate; the impact of changes in the U.S. presidential administration and the U.S. Congress on the economic environment, capital markets and regulatory landscape, including monetary, tax and other trade policies; changes in the volume and credit quality of our loans as well as volatility of our levels of nonperforming assets and charge-offs; the impact of changes in interest rates or market levels or factors affecting or affected by them, especially on our loan and investment portfolios; changes in the levels of our loans, deposits and client investment fund balances; changes in the performance or equity valuations of funds or companies in which we have invested or hold derivative instruments or equity warrant assets; variations from our expectations as to factors impacting our cost structure; changes in our assessment of the creditworthiness or liquidity of our clients or unanticipated effects of credit concentration risks which create or exacerbate deterioration of such creditworthiness or liquidity; variations from our expectations as to factors impacting the timing and level of employee share-based transactions; an inability to complete the acquisition of Boston Private, or changes in the currently anticipated timeframe, terms or manner of such acquisition; greater than expected costs or other difficulties related to the integration of our business and that of Boston Private; variations from our expectations as to the amount and timing of business opportunities, growth prospects and cost savings associated with completing the acquisition of Boston Private; unfavorable resolution of legal proceedings/claims or regulatory/governmental actions; variations from our expectations as to factors impacting our estimate of our full-year effective tax rate; changes in applicable accounting standards and tax laws; and regulatory or legal changes or their impact on us. The COVID-19 pandemic has created economic and financial disruptions that have adversely affected, and may continue to adversely affect, our business, operations, financial performance and prospects. Even after the COVID-19 pandemic subsides, it is possible that the U.S. and other major economies experience or continue to experience a prolonged recession, which could materially and adversely affect our business, operations, financial performance and prospects. Statements about the effects of the COVID-19 pandemic on our business, operations, financial performance and prospects may constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the pandemic, actions taken by governmental authorities in response to the pandemic, and the direct and indirect impact of the pandemic on our customers, third parties and us. We refer you to the documents the Company files from time to time with the Securities and Exchange Commission, including (i) our latest Annual Report on Form 10-K, (ii) our most recent Quarterly Report on Form 10-Q, and (iii) our most recent earnings release filed on Form 8-K. These documents contain and identify important risk factors that could cause the Company's actual results to differ materially from those contained in our projections or other forward-looking statements. All forward-looking statements included in this presentation are made only as of the date of this presentation. We assume no obligation and do not intend to revise or update any forward-looking statements contained in this presentation, except as required by law. This presentation shall not constitute an offer or solicitation in connection with any securities. Use of Non-GAAP Financial Measures To supplement our financial disclosures that are presented in accordance with GAAP, we use certain non-GAAP measures of financial performance (including, but not limited to, non-GAAP core fee income, non-GAAP SVB Leerink revenue and expenses, non-GAAP noninterest income, non-GAAP net gains on investment securities, non-GAAP non-marketable and other equity securities, non-GAAP noninterest expense and non- GAAP financial ratios) of financial performance. These supplemental performance measures may vary from, and may not be comparable to, similarly titled measures by other companies in our industry. Non-GAAP financial measures are not in accordance with, or an alternative for, GAAP. Generally, a non-GAAP financial measure is a numerical measure of a company's performance that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. A non-GAAP financial measure may also be a financial metric that is not required by GAAP or other applicable requirement. We believe that these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures (as applicable), provide meaningful supplemental information regarding our performance by: (i) excluding amounts attributable to non-controlling interests for which we effectively do not receive the economic benefit or cost of, where indicated, or (ii) providing additional information used by management that is not otherwise required by GAAP or other applicable requirements. Our management uses, and believes that investors benefit from referring to, these non-GAAP financial measures in assessing our operating results and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate a comparison of our performance to prior periods. We believe these measures are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. However, these no n-GAAP financial measures should be considered in addition to, not as a substitute for or superior to, net income or other financial measures prepared in accordance with GAAP. Under the "Use of Non-GAAP Financial Measures" section in our latest earnings release filed as an exhibit to our Form 8-K on January 21, 2020, we have provided reconciliations of, where applicable, the most comparable GAAP financial measures to the non-GAAP financial measures used in this presentation, or a reconciliation of the non-GAAP calculation of the financial measure. Please refer to that section of the earnings release for more information. svb > Q4 2020 Financial Highlights 53#54svb > Financial Group m About SVB Financial Group For more than 35 years, SVB Financial Group (NASDAQ: SIVB) and its subsidiaries have helped innovative companies and their investors move bold ideas forward, fast. SVB Financial Group's businesses, including Silicon Valley Bank, offer commercial, investment and private banking, asset management, private wealth management, brokerage and investment services and funds management services to companies in the technology, life science and healthcare, private equity and venture capital, and premium wine industries. Headquartered in Santa Clara, California, SVB Financial Group operates in centers of innovation around the world. Learn more at www.svb.com. SVB Financial Group is the holding company for all business units and groups © 2021 SVB Financial Group. All rights reserved. SVB, SVB FINANCIAL GROUP, SILICON VALLEY BANK, SVB LEERINK, MAKE NEXT HAPPEN NOW and the chevron device are trademarks of SVB Financial Group, used under license. Silicon Valley Bank is a member of the FDIC and the Federal Reserve System. Silicon Valley Bank is the California bank subsidiary of SVB Financial Group. Q4 2020 Financial Highlights 54#55svb> Financial Group Meghan O'Leary Head of Investor Relations 3005 Tasman Drive Santa Clara, CA 95054 T 408 654 6364 M 650 255 9934 [email protected] Find SVB on LinkedIn, Facebook and Twitter www.svb.com @SVB_Financial in Silicon Valley Bank f@SVBFinancialGroup Q4 2020 Financial Highlights 55