#1svb > Financial Group Q1 2021 Financial highlights#2Contents Snapshot and current environment Outlook and performance detail Appendix svb > Non-GAAP reconciliations This presentation should be reviewed with our Q1 2021 Earnings Release and Q1 2021 CEO Letter, as well as the company's SEC filings PAGE 3 PAGE 16 PAGE 33 PAGE 52 Q1 2021 Financial Highlights 2#3svb > Snapshot and current environment Q1 2021 Financial Highlights 3#4Q1'21 Snapshot: Exceptional growth and profitability - best quarter on record FINANCIAL HIGHLIGHTS EPS: $10.03 Q1'21 PERFORMANCE (vs. Q4'20) $46B +11.5% AVERAGE LOANS¹ +$2.5B PERIOD-END GROWTH $262B +16.2% AVERAGE CLIENT FUNDS +$45.OB PERIOD-END GROWTH $159M +1.9% CORE FEE INCOME² svb > Net Income: $532M $167 M +10.5% SVB LEERINK REVENUE², 3 $665 M +11.5% NET INTEREST INCOME¹ ROE: 27.04% $364M $19M PROVISION FOR CREDIT LOSSES (primarily driven by $80M charge-off related to potential GFB capital call line fraud", partially offset by improved model economic scenarios) WARRANT AND INVESTMENT GAINS NET OF NCI² 1. SBA Paycheck Protection Program ("PPP") contributed $1.6B to average loan balances and $14.1M to net interest income, includig $10.1M 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 Q1 2021 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 3. Represents investment banking revenue and commissions. 4. Reflects potentially fraudulent client activity in connection with a GFB capital call line of credit resulting in a preax charge-off of $80M ($59M net of tax). We continue to pursue all available sources of recovery, and based on our review of the GFB loan portfoliowe currently believe this incident is an isolated occurrence. See our Q1 2021 Earnings Release for more information. Q1 2021 Financial Highlights 4#5Q1'21 Highlights Exceptional growth and profitability - best quarter on record 1. 2. Robust, highly liquid innovation markets and strong execution driving extraordinary growth Period-end assets reached $142B (+90% YoY) and total client funds reached $288B (+71% YoY) as strong fundraising and exits continued to fuel client liquidity 3. Exceptional balance sheet growth drove better-than-forecast NII, despite low rate environment 4. Substantial 11% QoQ average loan growth buoyed by sustained high levels of PE investment and strong borrowing by technology and life science/healthcare clients 5. Stable credit metrics (excluding loss related to potential fraud) and improving model economic scenarios drove reserve release 6. Record warrant and investment gains of $364M¹ from realized and pending exits as client IPO and SPAC activity accelerated 7. Improved core fees as record FX and higher card and deposit fees offset the impact of low rates on client investment fees 8. Record SVB Leerink quarterly revenues of $167M, capitalizing on strong life science and healthcare public markets activity 9. Expenses above Q1'21 guidance due to higher incentive compensation from outstanding performance and SVB Leerink expansion 10. $2.4B of debt and equity raised YTD² to support our increased growth momentum and accelerated investment in our business 11. Improved 2021 outlook due to steepening growth trajectory svb> 1. Net of NCI. 2. Year to date through April 22, 2021, Q1 2021 Financial Highlights 5#6Strong markets and effective execution are driving extraordinary growth Exceptional growth & peer-leading profitability Resilient, highly liquid markets GLOBAL PE & VC INVESTMENT $ Billions 1,167 VC 207 1,328 PE 960 1,000 59 328 2017 1,141 U.S. VC-BACKED IPOS Count svb > 289 85 851 2017 2018 2019 2020 Q1'21 1,162 80 336 826 302 134 168 103 41 2018 2019 2020 Q1'21 SVB CLIENT COUNT Record -1,600+ new clients in Q1'21 Other Private Bank PE/VC VC-Backed Strong execution Pre- VC-Backed 13% CAGR 2017 2018 2019 2020 Q1'21 EMPLOYEE ENABLEMENT STRATEGIC GROWTH INVESTMENTS SVB Leerink 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5,000 DIGITAL CLIENT 0 EXPERIENCE INTERNATIONAL WestRiver Boston Private ACQUISITION PLANNED NEW PRODUCTS ACQUISITION LARGE FINANCIAL INSTITUTION & U.K. SUBSIDIARIZATION REQUIREMENTS AVERAGE CLIENT FUNDS $ Billions 94.3 Average Deposits 42.8 Average OBS Client 51.5 Funds SVB 12.4% Peer Average¹ Note: VC and PE data sourced from PitchBook. 1. Source: S&P Global Market Intelligence. Represents the average of the return on equity ("ROE") for each of our peers. Forach year, "peers" refers to our peer group as reported in our Proxy Statement and is subject to change on an annual basis. 2. Q1'21 represents annualized ROE. Q1'21 peer ROE includes 10 of 15 peers as of April 21, 2021. 37% CAGR 9.8% 123.2 2017 48.1 75.1 RETURN ON EQUITY 146.7 2017 2018 2019 55.1 91.6 20.6% 20.0% 12.8% 11.8% 192.4 75.0 117.4 16.8% 8.3% 262.2 2020 Q1'21 110.6 Q1 2021 Financial Highlights 151.6 27.0% 13.7% 2018 2019 2020 Q1'21² 6#7Robust tailwinds supporting the innovation economy Attractive growth opportunity... INDEXED PRICE % vs. 1/1/17 svb > AS OF 3/31/21 1/1/17 1/1/18 1/1/19 1/1/20 3/31/21 Nasdaq-100¹ 2.7x 198 S&P 500 ex Nasdaq-100 1.8x 2017 ...amplified by historically low rates... Significant dry powder... 223 10Y U.S. TREASURY YIELD GLOBAL VC DRY POWDER $ Billions 2018 Mamy 1/1/06 1/1/11 244 2019 278 9/30/2020³ 1/1/16 3/31/21 AS OF 3/31/21 1.7% 1,080 2017 ...to support future investment GLOBAL PE DRY POWDER $ Billions Note: Market data sourced from FactSet. VC and PE dry powder data sourced from PitchBook. 1. Nasdaq 100 Index used as a proxy for technology markets. 2. Source: Refinitiv. Historical revenue growth for companies included in the Nasdaq100 and S&P 500 (excluding Nasdaq-100 companies) as of March 31, 2021. 3. Most recent data available. REVENUE GROWTH² % vs. 12/31/16 ...and acceleration of digital 2018 1,209 1,263 1,305 12/31/16 12/31/17 12/31/18 12/31/19 12/31/20 2019 AS OF 12/31/20 9/30/2020³ Nasdaq-100¹ 1.7x S&P 500 ex Nasdaq-100 1.1x Q1 2021 Financial Highlights 7#8Robust client funds growth over time Strong liquidity franchise + innovation economy momentum drive resilient long-term growth TOTAL AVERAGE CLIENT FUNDS 15-YEAR HISTORY ($ Billions) On-balance sheet deposits Annual total client funds growth rate (positive, negative) Off-balance sheet client funds 25% 28% 24% 15% 21 4 17 24 20 9% svb > -2% 26 5 21 -4% 28 12 16 2006 2007 2008 2009 2010 -26% 16% 25 9 16 9% Global Financial Crisis 42% 20% 33 15 18 2011 Note: VC data sourced from PitchBook. * QoQ percentage change (Q1'21 vs. Q4'20). 14% -8% 38 18 20 16% 15% 44 20 24 2012 2013 52% 33% 58 28 30 29% 16% 76 37 39 Annual U.S. VC investment growth rate (positive, negative) 9% -5% 82 39 43 2014 2015 2016 15% 8% 94 43 51 63% VC Recalibration 31% 123 48 75 19% -2% 147 55 92 Q1'21 QoQ growth rate* Average client funds 16% U.S. VC investment 53% 31% 18% 192 75 117 262 111 152 2017 2018 2019 2020 Q1'21 COVID-19 Pandemic Q1 2021 Financial Highlights 8#9Active capital management Targeting 7-8% Bank Tier 1 Leverage Q1'21 Bank capital ratio drivers $2.0B downstream of SVBFG liquidity to Bank Strong earnings and robust balance sheet growth ● Strong profitability builds capital 27% Q1'21 ROE svb > Off-balance sheet solutions help optimize growth 50% OF Q1'21 AVERAGE CLIENT FUNDS GROWTH IN OBS CLIENT FUNDS SILICON VALLEY BANK CAPITAL RATIOS¹ As of 3/31/21 SVB capital ratio Regulatory minimum 12.94% 7.00% Common Equity Tier 1 12.94% $1B 3/31/21 SVBFG LIQUIDITY 8.50% Levers to support capital SVBFG liquidity a portion of which can be downstreamed to Bank Tier 1 Capital 13.58% 10.50% Capital markets activity to support growth Total Capital 2021 YTD NEW $750M ISSUANCES² 1. Ratios as of March 31, 2021 are preliminary. 2. On February 2, 2021, SVBFG issued $750M 4.100% Fixed-to-Reset Series B Non-Cumulative Perpetual Preferred Stock and $500M 1.800% Senior Notes due 2031. On March 25, 2021, SVBFG issued $1B Common Stock- additional $150M greenshoe was exercised on April 14, 2021. PREFERRED $500M STOCK SENIOR $1.15B NOTES COMMON STOCK 7.20% 4.00% Tier 1 Leverage Interest rate risk management to mitigate OCI risk $10B FAIR VALUE $3B HEDGES TRANSFERRED AS OF 3/31/21 (38% OF AFS) FROM AFS TO HTM IN Q1'21 Shortening duration OF AFS PORTFOLIO TO <2 YEARS (HEDGE-ADJUSTED TARGET) Q1 2021 Financial Highlights 9#10Our vision: Be the most sought-after digital-age partner helping innovators, enterprises and investors move bold ideas forward fast svb> Financial Group bolster techstars Investments vouch svb > Silicon Valley Bank Global commercial banking M&A svb> Silicon Valley Bank SVBLEERINK SVB Private Bank Private banking and wealth management Clients SVB Leerink Investment banking for healthcare and life science companies SVB Capital Private venture investing expertise, oversight and management BOSTON PRIVATE* svb> Private Bank svb > Capital WRG WEST RIVER GROUP Expanding and deepening our global platform organically and via investments and opportunistic M&A to meet clients' needs at all stages * On January 4, 2021, SVB Financial Group announced its planned acquisition of Boston Private Financial Holdings, Inc. The aquisition 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. Q1 2021 Financial Highlights 10#11Accelerating investments in our strategic priorities to extend our competitive advantage ● ● Enhance client experience End-to-end digital banking APIs and payment enablement Strategic partnerships to accelerate product delivery Technology platform upgrades svb> + ● . ● ● Improve employee enablement ● Mobile and collaboration tools nCino credit onboarding platform ● • Global Delivery Centers Client and industry insights Agile ways of working Talent attraction, retention and development • Diversity, Equity & Inclusion initiatives + ● ● ● • Boston Private acquisition (expected closing mid-2021*) ● ● Drive revenue growth ● Global expansion SVB Leerink SVB Capital debt fund (WestRiver acquisition) and life science strategy Client acquisition New products (cards, liquidity and lending) Product penetration Strategic investments Fintech strategy * Subject to regulatory approvals and customary closing conditions. + дв • Data foundation Large Financial Institution regulatory requirements (>$100B in average total consolidated assets) U.K. subsidiarization Cybersecurity ● ● Enhance risk management ● 잉 Long-term scalable growth Q1 2021 Financial Highlights 808 11#12Overall stable credit metrics and improving economic environment Stable credit metrics (excluding isolated GFB potential fraud incident) NON-PERFORMING LOANS & NET CHARGE-OFFS NPLs¹ NCOs² 0.15% 0.35% Q1'20 0.26% 0.28% 0.26% 0.12% Q2'20 Q3'20 Improving economic environment Monitoring COVID-19 spread svb > Less $80M GFB potential fraud incident Figures as of 3/31/21 0.79% 0.23% 0.20% 0.09% 0.09% Q4'20 Q1'21 Only 1.3% of loans on deferral 4% of total assets DEFERRAL PROGRAM PARTICIPATION³ Wine Private Bank Venture Debt $2.9B % of total loans 7.9% 19% Global Fund Banking of total assets $2.0B 6/30/20 9/30/20 12/31/20 3/31/21 $0.8B 5.3% $0.6B 1.8% 1.3% •Primarily consists of capital call lines of credit to PE/VC funds (well-diversified, low risk loans with strong sources of repayment) • Recent potential fraud loss is an isolated event in our ~30 years of capital call lending Private Bank • Only $19M of net losses since inception (1990s) • Primarily mortgages located in CA (63%) with 66% median LTV U.S. UNEMPLOYMENT RATE4 Unemployment Rate 1% of total assets Strengthening economy ● ● . 3.8% 13.1% Vaccines, re-openings and government support 9% Technology and Life Science/Healthcare of total assets • Robust VC investment activity providing strong support 25 8.8% 6.8% 1. Non-performing loans as a percentage of periodend total loans. 2. Net loan charge-offs as a percentage of average total loans (annualized). 3. Remaining Venture Debt deferrals were not driven by additional extensions (at time of deferral, loans had remaining interesonly periods which were extended via the program; principal payments commencing throughout 2021). 4. Source: U.S. Bureau of Labor Statistics. Quarterly unemployment rate represents an average of monthly unemployment rates for each period. Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 6.2% Credit quality continuing to improve as impact of COVID-19 subsides Wine Sales improving with re-openings • 77% of portfolio secured by high-quality real estate with median LTV of 50% Continue to monitor Investor Dependent (primarily Early-Stage), Cash Flow Dependent and other COVID-19-impacted clients Limited physical damage from recent California wildfires Q1 2021 Financial Highlights 12#13Diversified earnings power 7.19% NII (In Millions) ¹ 5.02% $377 2007 379 5.72% 516 1.92% $371 2008 svb > 894 Strong balance sheet growth has historically offset low rates to fuel NII -NIM Average Fed Funds Rate 252 642 3.73% $384 0.16% 2009 CORE FEES AND SVB LEERINK REVENUE² $ Millions 1,084 481 603 3.08% 3.08% $528 0.10% 326 167 159 $420 0.18% 2017 2018 2019 2020 Q1'21 2010 2011 3.19% 3.29% $620 $699 0.14% SVB Leerink Revenue (Investment Banking Revenue and Commissions) Core Fee Income 2012 0.11% 2013 2.81% $1,008 $858 Warrant Gains Investment Securities 0.09% 90 55 35 2014 Gains will fluctuate with changes in valuation and market conditions 139 2.57% 0.13% 89 50 2015 Business diversification to drive earnings and profitability WARRANT AND INVESTMENT GAINS NET OF NCI² $ Millions 224 138 86 572 238 $1,152 2.72% 0.39% 334 2016 364 222 142 $1,903 $1,423 3.57% 3.05% Gains 2017 2018 2019 2020 Q1'21 1.00% 2017 1.83% 2018 $2,109 $2,156 1. Net interest income presented on a fully taxable equivalent basis. 2. Non-GAAP financial measure. Please see the Appendix for more information. 3. Reflects Q1'21 figures for our international operations in the U.K., Europe, Israel and Asia (Canada is included in our U.S. Technology Banking segment). This management segment view does not tie to regulatory definitions for foreign exposure. 3.51% 2.16% 2019 $7.1B Average loans 50% 2017-Q1'21 CAGR 2.67% 2.29% 0.33% 2020 INTERNATIONAL EXPANSION³ $25.0B Average deposits 44% 2017-Q1'21 CAGR 0.08% $665 Q1'21 $3.5B Average OBS client funds 32% 2017-Q1'21 CAGR $24.5M Q1'21 Core fee income² 31% 2017-2020 CAGR Q1 2021 Financial Highlights 13#14Well-positioned for rising rates Asset sensitive balance sheet... ...magnified by robust growth... -$100M 66% MODELED INCREASE IN OF Q1 AVERAGE ANNUALIZED PRETAX DEPOSITS ARE NII FOR EACH 25 BP NONINTEREST- INCREASE IN RATES¹ BEARING 92% $3.0-3.5B OF Q1 AVERAGE LOANS ARE VARIABLE RATE ESTIMATED SECURITIES PAYDOWNS/QUARTER svb > $163M $25B REMAINING LOCKED-IN ACTIVE LOAN SWAP GAINS³ FLOORS4 Mid 30s% High 60s% EXPECTED FY'21 AVERAGE LOAN GROWTH² Proactive interest rate risk management Still benefitting from strategies to protect against low rates: EXPECTED FY'21 AVERAGE DEPOSIT GROWTH² Excess liquidity invested in 3-5 year duration securities (primarily classified as HTM) Z ...and substantial off-balance sheet client funds $152B -$90-120M Q1 AVERAGE OBS CLIENT FUNDS * Equivalent to 6-8 bp increase in client investment fee margin based on Q1'21 average balance. Expect client investment fee margin to increase by 1-2 bps for each subsequent 25 bp increase in short-term rates EXPECTED INCREASE IN ANNUALIZED CLIENT INVESTMENT FEES FOR INITIAL 25 BP INCREASE IN RATES* Positioning securities portfolio to create flexibility and mitigate OCI risk from potential rising long-term rates: Note: Average balances represent Q1'21 averages. All other figures as of March 31, 2021. 1. Equivalent to +15% NII sensitivity for the expected 12month impact of a +100 bp rate shock on net interest income. Management's sensitivity analysis is based on a static balance sheet and is subject to assumptions; actual results may differ. See Q1'21 Form 10-Q report for more information. $3B $10B TRANSFERRED FROM AFS TO HTM FAIR VALUE HEDGES (38% OF AFS PORTFOLIO) 2. See page 17 for more information. 3. 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. 4. $216M mark-to-market value. 3.49% weighted average floor rate, 1.6year weighted average duration. SHORTENING AFS PORTFOLIO DURATION TO <2y (HEDGE- ADJUSTED TARGET) Q1 2021 Financial Highlights 14#15Long-term growth opportunity Thriving, high-growth markets Unique liquidity franchise Robust earnings power Growth investments High-quality balance sheet Strong credit quality Proven leadership $%$ $ svb > $ul 000 Strong capital management and ample liquidity M |x = | % Innovation is driving economic growth, and digital adoption and activity in healthcare are accelerating Powerful client funds franchise with low cost of onbalance sheet deposits ● ● Industry-leading growth and profitability Diversified revenue streams to drive earnings through rate and economic cycles Expanding and deepening platform to meet innovation clients' needs at all stages Enhancing our systems, structure and processes to support our continued growth 85% of assets in high-quality investments and low credit loss experience lending Long track record of strong underwriting and resilient credit performance Ability to support growth and manage shifting economic conditions while investing in our business Deep bench of recession-tested leaders supported by strong global team * Based on cash, fixed income investment portfolio and Global Fund Banking and Private Bank loan portfolios as of March 31, 2021. Q1 2021 Financial Highlights 15#16E svb > 12 53 HEL 4.2. Outlook and performance detail Q1 2021 Financial Highlights 16#17● ● Improved 2021 outlook Outlook considerations Increasing 2021 growth outlook as strong tailwinds continue to support the innovation economy: Acceleration of digital adoption and activity in healthcare ● ● ● Ample PE & VC dry powder for future investment and new liquidity sources Historically low rates and compelling growth opportunity will continue to drive demand for alternative assets Net charge-offs guidance unchanged despite Q1'21 isolated potential fraud as economic environment improves - continue to monitor COVID-19 developments • Increasing investment in 2021 to extend our competitive advantage and support our accelerated growth Outlook excludes impact of changes in interest rates, material deterioration in the overall economy, the completion of the pending Boston Private acquisition¹ and potential corporate tax rate or other changes under the new U.S. government administration svb > Business driver Average loans Average deposits Net interest income² Net interest margin Net loan charge-offs Core fee income 3,4 SVB Leerink revenue³, 5 Noninterest expense³, 6 Effective tax rate FY'20 results $37.3B 4. Excludes SVB Leerink. 5. Represents investment banking revenue and commissions. 6. Excludes expenses related to NCI. Includes SVB Leerink expenses. $75.0B $2,156M 2.67% 0.20% $603M $481M $2,035M 27.0% Note: Actual results may differ. For additional information about our financial outlook, please refer to our Q1 2021 Earning Ⓡelease and Q1 2021 CEO Letter. 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 Q1 2021 Earnings Release and our nonGAAP reconciliations at the end of this presentation. FY'21 outlook vs. FY'20 Mid 30s % growth High 60s % growth Mid 30s % growth 2.10%-2.20% 0.20%-0.40% Mid single digit % growth $420M-$450M High teens % growth 26%-28% Q1 2021 Financial Highlights 17#18Key variables to our forecast Our guidance requires clarity around certain variables, including but not limited to: VC fundraising and investment PE fundraising and investment Exit activity Economic environment Capital markets Competitive landscape Shape of yield curve Political environment svb > ir sal 8 ● ● ● ● ● ● ● ● ● ● 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 public markets 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 exit 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 and Congress will influence economic policy and stimulus, business and market sentiment, global trade relationships, bank regulations and corporate taxes Q1 2021 Financial Highlights 18#19Continued momentum in fundraising and exits drove surge in client funds Expect FY'21 average deposit % growth in the high 60s ● ● ● ● ● ● Q1'21 activity Average client funds +$37B (periodend +$45B) as strong technology and life science public and private fundraising and exits continued to flood clients with liquidity Growth further amplified by robust client acquisition over past year as newer clients experienced liquidity events 50% of average client funds growth was offbalance sheet (up from 39% in Q4'20) Stable deposit mix (66% noninterest-bearing) and cost of deposits (4 bps) 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 and public markets activity Increases technology and life science/healthcare clients' liquidity New client growth Continued strong client acquisition Normalizing client spending As business activity recovers Demand for off-balance sheet solutions May attract increasing share of client liquidity offbalance sheet Total cost of deposits and share of noninterestbearing deposits expected to remain steady svb > AVERAGE CLIENT FUNDS $ Billions +59% YoY 165.4 20.5 41.3 103.6 Q1'20 66.9% 0.24% 177.2 21.8 Q1'20 46.1 109.3 201.2 26.1 51.5 123.6 225.5 30.8 61.6 0.03% 0.04% 133.1 Q2'20 Q3'20 Q4'20 AVERAGE DEPOSIT MIX AND PRICING 67.9% 66.4% 66.7% 262.2 37.4 0.04% 73.2 151.6 Q1'21 Interest-Bearing Deposits Noninterest-Bearing Deposits Q2'20 Q3'20 Q4'20 Q1'21 Off-Balance Sheet Client Funds 66.2% Percent of Noninterest-Bearing Deposits 0.04% Total Cost of Deposits Q1 2021 Financial Highlights 19#20Accelerated securities purchases as significant deposit inflows continued Q1'21 activity Purchased $24.OB securities (1.49% weighted average yield, 4.26y duration) vs. roll-offs of $3.4B at 2.02% ● . Purchases included agency-issued MBS/CMOS/CMBS, high-quality munis and a small amount of AA and A corporate bonds ● Despite significant purchase activity, exceeded average cash target due to surge in deposits Began positioning AFS portfolio for higher rates by executing $10B receive floating swaps and transferring $3B of AFS securities to HTM FY'21 key drivers Focused on shortening AFS portfolio duration to <2y to mitigate OCI risk while buying 3-5y duration HTM securities to support portfolio yields Continue to invest excess on-balance sheet liquidity in high-quality securities (agency MBS/CMOS/CMBS, munis), primarily classified as HTM • Managing average Fed cash balances to $810B target by end of 2021 Expect average FY'21 fixed income portfolio yield to be ~1.601.70%: + Low (but improved) new purchase yields Expect new purchase yields ~1.35-1.45% Estimated $3.0-$3.5B paydowns per quarter through 2021 Rate protections Targeting <2y AFS portfolio duration (hedgeadjusted) Added $10B receive floating swaps in Q1 at 35 bps cost (as of 3/31/21) - expect to execute additional swaps to reach AFS duration target High-quality alternative investments Opportunistically buying strong credit-quality munis and corporate bonds to support portfolio yields svb > AVERAGE FIXED INCOME INVESTMENT SECURITIES $ Billions Low (but improved) new purchase yields and net premium amortization expense ($47M²) pressured Q1'21 yields Q1'21 portfolio duration increased due to impact of rising rates on mortgage securities³ 2.53% 2.49% 2.14% 1.98% 1.90% Tax-effected Yield 27.1 25.8 Portfolio Duration 3.2y Q1'20 Q2'20 Q3'20 3.4y AVERAGE CASH AND EQUIVALENTS $ Billions Securities Purchases 1. Actual balances depend on timing of fund flows. 2. Increase in net premium amortization expense QoQ primarily driven by a reduction in discount accretion due to slowing prepayments in Q1'21 from rising rates. In addition, Q4'20 benefitted from an acceleration of discount accretion reflective of higher than estimated prepayments for our agency CMBS securities held in our HTM portfolio at December 31, 2020. 3. Q1'21 portfolio duration was 4.3 years including the impact of interest rate swaps on AFS securities. 7.3 Q1'20 1.9B 32.6 Outsized deposit growth continued to drive elevated cash balances and significant securities purchases in Q1'21 11.9 41.4 Q4'20 Q1'21 4.1y 3.7y 4.8y³ 13.8 53.5 15.9 18.2 Q2'20 Q3'20 Q4'20 Q1'21 6.7B 10.0B 11.4B 24.0B Q1 2021 Financial Highlights 20#21Flexible liquidity management strategy supports strong, profitable growth Robust liquidity solutions to meet clients' needs $111 B Q1'21 AVERAGE ON-BALANCE SHEET DEPOSITS 40+ LIQUIDITY MANAGEMENT PRODUCTS On vs. off-balance sheet considerations Bank tier 1 leverage ratio Profitable spread income Ability to support client funds growth on and off-balance sheet, while optimizing pricing and mix Liquidity svb > Target range 7-8% internal target 75-100 bps minimum target spread between new purchase yields and deposit costs $8-10B average Fed cash target* S * Actual balances depend on timing of fund flows. $152B Q1'21 AVERAGE OFF-BALANCE SHEET CLIENT FUNDS Continued product development Flexibility TO BETTER SERVE CLIENTS $1B SVBFG liquidity as of 3/31/21, a portion of which can be downstreamed to Bank -1.35-1.45% expected new purchase yields 4 bps cost of deposits enables healthy margins Focused on supporting yields and mitigating OCI risk from potential rising rates -$3.0-$3.5B expected portfolio cash flows per quarter through 2021 $72.0B borrowing capacity as of 3/31/21 ($4B repo, $1.9B Fed Lines, $6.7B FHLB & FRB and $59.4B of unpledged securities) Q1 2021 Financial Highlights 21#22Strong PE investment and borrowing by technology and life science/healthcare clients drove robust loan growth; Expect FY'21 average loan % growth in the mid 30s ● ● Q1'21 activity Q1 average loans +11% QOQ (period-end loans +6%) ¹ as PE investment drove strong GFB capital call lending activity Strong Tech and Life Science/Healthcare loan growth, partially offset by paydowns as client fundraising activity remained robust • Low rates continued to fuel strong Private Bank mortgage growth $445M SBA PPP 2.0 loans funded vs. $587M SBA PPP 1.0 loans forgiven $16M interest rate swap gains² and $23.8B average active loan floors in Q1 continued to benefit loan yields AVERAGE LOANS $ Billions Portfolio Utilization Other Wine Tech and Life Science/HC Private Bank Global Fund Banking 3.86% Q4'20 Loan Yield 59.7% svb> 33.7 AVERAGE LOAN YIELD³ 9.9 3.9 18.0 Q1'20 (0.02%) LIBOR 56.8% 36.5 11.5 4.0 17.7 (0.02%) 55.9% Loan Fees 37.3 11.3 4.3 18.2 58.6% 41.5 11.1 4.6 22.1 Loan Mix (0.05%) 58.4% Q2'20¹ Q3'20¹ Q4'20¹ Q1'21¹ 46.3 11.8 5.0 26.3 3.77% Q1'21 Loan Yield Loan growth may be impacted by: + + + FY'21 outlook key drivers + + Strong PE/VC investment activity Expected to drive robust capital call line growth for FY'21 despite loan repayments in Q2'21 Solid Private Bank mortgage origination Expect solid growth driven by strong purchase activity, even as refinances may slow with rising rates Strong tech and life science/HC lending pipelines Expected to offset paydowns from abundance of liquidity Loan yields expected to be impacted by: Rate protections $163M remaining locked-in swap gains as of 3/31/21² $25.4B active loan floors as of 3/31/215, however loan renewals may pressure ability to maintain floor rates SBA PPP forgiveness ~$1.6B SBA PPP loans outstanding as of 3/31/21- estimate ~$1B PPP 1.0 loans to be forgiven throughout 2021 (primarily in Q3 and Q4) SBA PPP forgiveness ~$1.6B SBA PPP loans outstanding as of 3/31/21- estimate ~$1B PPP 1.0 loans to be forgiven throughout 2021 (primarily in Q3 and Q4) Shifting loan mix Towards lower yielding Global Fund Banking capital call lines Spread compression Increasing competition as economy recovers 1. Q1'21 loan growth excluding SBA PPP was 12% (average) and 6% (periodend). SBA PPP loans contributed ~$1.6B to Q1'21 average loans, $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 variablerate loans. 3. SBA PPP contributed $14.1M to Q1'21 NII, including $10.1M of loan fees. 4. Estimate only, subject to SBA PPP terms; amounts actually forgiven and timing of forgiveness may differ. 5. $216M mark-to-market value. 3.49% weighted average floor rate, 1.6year weighted average duration. Q1 2021 Financial Highlights 22#23Exceptional balance sheet growth drove better-than-forecast NII despite low rates Expect FY'21 NII % growth in the mid 30s¹ and FY'21 NIM between 2.10-2.20% Q1'21 activity NET INTEREST INCOME¹ $ Millions 596.5 2.40% 35.4 Q4'20 NIM Q4'20 Loan Growth Fixed Income Lower Fixed Other NII & Mix Shift NET INTEREST MARGIN svb > 57.2 0.03% Loan Growth & Mix Shift Portfolio Growth (10.8) (0.03%) Income Yields (2.9) (0.04%) Fixed Income Growth in Portfolio Cash Growth Balances (10.3) (0.04%) Day Count (Two less business. days) Surge in deposits drove significant securities purchases and high cash balances, pressuring NIM (0.03%) 665.1 Lower Fixed Other Income Yields Q1'21 NII 2.29% Q1'21 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 (positive for loan yields, negative for securities yields) -5 bps of NIM protection in 2021 from locked-in swap gains² $25.4B active loan floors as of 3/31/21³, however loan renewals may pressure ability to maintain floor rates Targeting <2y AFS portfolio duration (hedgeadjusted) Added $10B receive floating swaps in Q1 at 35 bps cost (as of 3/31/21) - expect to execute additional swaps to reach AFS duration target SBA PPP program FY'21 includes -$35-40M of estimated SBA PPP loan interest and fees, net of deferred loan origination costs (+1 bp impact to NIM) Reduction in average Fed cash balances + To $8-10B target by end of 2021 (actual balances depend on timing of fund flows) Low (but improved) new purchase yields Expect new purchase yields ~1.35-1.45% Estimated $3.0-$3.5B 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. SBA PP contributed $14.1M to Q1'21 NII, including $10.1M of loan fees. 2. Unwound $5B swaps in Q1'20 resulting in $227M pretax fair value gains in OCI to be reclassified to loan interest income over5 years based on the timing of cash flows from hedged variablerate loans. $163M locked-in gains remain as of March 31, 2021. 3. $216M mark-to-market value. 3.49% weighted average floor rate, 1.6year weighted average duration. 4. Based on SBA PPP forgiveness expectations. Estimate only, subject to SBA PPP terms; amounts actually forgiven and timing of forgiveness may differ. Q1 2021 Financial Highlights 23#24Overall stable credit trends and improving economic environment Expect 2021 NCOs to be between 20-40 bps Q1'21 activity • Provision driven by $80M net charge-off related to isolated GFB potential fraud and $62M release of performing reserves based on improved model economic scenarios ● Stable credit metrics excluding isolated GFB potential fraud: • Low gross charge-offs ($15M), consisting primarily of Investor Dependent loans, and strong recoveries ($5M) • NPLs decreased to $95M vs. $104M in Q4'20 Criticized loans declined $12M QoQ to $1.2B (3% of Q1 EOP loans) Only 1.3% of loans remain on deferral as of 3/31/21 PROVISION FOR CREDIT LOSSES $ Millions 243 191 11 41 Q1'20 0.35% 0.15% 6 (6) svb> 66 26 15 24 Q2'20 0.12% 0.26% 6 10 23 (82) (52) Q3'20 0.26% 0.28% 2 (5) 20 23 (78) (38) Q4'20 0.09% 0.23% 2 (5) 18 80 18 (16) (62) GFB potential 1 fraud net losses Non-performing (3) Net credit losses less $80M GFB potential fraud incident Q1'21 0.79%¹ 0.20% loans Loan composition Unfunded Market conditions Net charge-offs² Non-performing loans³ FY'21 outlook key drivers Changes in model economic scenarios could drive volatility in provision: Moody's March economic scenarios 40% 30% baseline downside Credit performance drivers: + + Vaccine distributions and re-openings Support business activity of our clients Continued investor support Robust VC investment activity providing strong support 30% upside 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 COVID-19 No direct exposure to oil and gas Limited indirect exposure to retail, travel and hospitality Wine sales improving with re-openings New COVID-19 variants and continued spread Reinstated or extended lockdowns may lead to higher Tech and Life Science/Healthcare NPLs and losses, particularly among Investor Dependent (primarily Early-Stage and some Mid-or Later-Stage) and Cash Flow Dependent portfolios 1. Net loan charge-offs less $80M net charge-off related to GFB potential fraud incident were 0.09%. 2. Net loan charge-offs as a percentage of average total loans (annualized). 3. Non-performing loans as a percentage of periodend total loans. Q1 2021 Financial Highlights 24#2568% of loan portfolio in low credit loss experience Global Fund Banking and Private Bank segments TOTAL LOANS $48B at 3/31/21 1 Global Fund Banking ("GFB") 57% svb > Early-Stage ID 3% Mid-Stage ID 3% Private Bank 11% Later-Stage ID 4% Sponsor Led Buyout CFD 4% Other CFD 6% Balance Sheet Dependent 6% Other 4% Premium Wine 2% ALLOWANCE FOR CREDIT LOSSES FOR LOANS $392M at 3/31/21 Premium Wine 2% ID = Investor Dependent CFD=Cash Flow Dependent Balance Sheet Dependent 10% Low Credit Loss Experience Segments Technology & Life Science /Healthcare Private Bank 11% Other CFD 8% GFB 15% Early-Stage ID 16% Mid-Stage ID 9% Later-Stage ID 18% Sponsor Led Buyout CFD 11% Q1 2021 Financial Highlights 25#26Tech & LS/HC Improved model economic scenarios drove reserve release ALLOWANCE FOR CREDIT LOSSES FOR LOANS AND UNFUNDED CREDIT COMMITMENTS $ Millions Moody's March forecasts (40% baseline, 30% downside, 30% upside) Improved model economic scenarios (Baseline: Peak unemployment of -6% in Q1'21 and 1 year GDP growth of 5%) Loss modeling does not include impact of fiscal stimulus or relief programs $ 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> 569 0.99% 0.38% 0.74%* 448 121 ACL 12/31/20 (%) ACL 12/31/20 5.83% 86,674 3.08% 48,164 4.09% 1.63% 2.47% 1.34% 1.09% 0.18% 0.83% 0.14% 78,519 35,651 49,098 39,500 53,629 45,584 8,747 2,199 447,765 120,796 568,561 10 5 5 Changes in loan composition/growth Changing credit quality Charge-offs/recoveries Portfolio Changes (8,774) 56 3,087 4,670 (1,443) (1,559) 4,147 3,770 58 1,667 5,679 4,685 10,364 * Weighted average ACL ratio for loans outstanding and unfunded credit commitments. (82) (61) (21) Improved Moody's economic scenarios Model Assumptions (15,653) (12,368) (12,772) (2,698) (4,873) (6,853) (12,712) 10,647 (1,604) (2,807) (61,693) (20,731) (82,424) 497 392 105 ACL 3/31/21 ACL 3/31/21 (%) 62,247 35,852 68,834 37,623 42,782 31,088 45,064 60,001 7,201 1,059 391,751 104,750 496,501 4.09% 2.26% 3.35% 1.50% 2.16% 1.05% 0.89% 0.22% 0.69% 0.06% 0.82% 0.31% 0.61%* Vs. ~6% average Early-Stage NCOS over 2008-2010 Q1 2021 Financial Highlights 26#27Increased business activity drove core fees higher despite low rate impact on client investment fees; Expect FY'21 core fees % growth in the mid single digits FY'21 outlook key drivers Q1'21 activity • Record FX fees (+12% QoQ) driven primarily by hedging and PE deal activity • New clients, deepening penetration and higher utilization drove Card fees +9% ● Client investment fees declined 20% QoQ despite surge in balances as fee margin, which adjusts with short-term rates, decreased by 2 bps to 5 bps CORE FEE INCOME* $ Millions FX Fees Credit Card Fees Client Investment Fees Deposit Service Charges Lending Related Fees LOC Fees svb > 168.5 47.5 28.3 43.5 24.6 13.1 11.5 Q1'20 +11% YoY rebound in core fee income less client investment fees (which have been impacted by near-zero rates) 132.5 36.3 21.3 31.9 20.5 11.1 11.4 146.3 43.9 22.8 31.9 22.0 13.5 12.2 155.9 51.1 25.4 25.0 23.2 19.7 11.5 158.9 57.4 27.6 20.1 25.1 15.7 13.0 Q2'20 Q3'20 Q4'20 Q1'21 ● Core fees to be impacted by: +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 single digits in Q2'21 due to nea-zero rates RECENT ENHANCEMENTS FX Simplified user experience Trading and platform automation 80% target straight through processing Cards Automated underwriting Rewards and rebates Expense management and controls Full online experience * Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q1 2021 Earnings Release and our non GAAP reconciliations at the end of this presentation. Liquidity Custom solutions 40+ liquidity management products Q1 2021 Financial Highlights 27#28Continued momentum from SVB Leerink - record quarterly revenue Expect 2021 SVB Leerink revenue to be between $420M-$450M SVB Leerink expands our solutions for life science/healthcare clients DIDI BIOPHARMA D Equity Research MEDACorp svb > Institutional Equities M&A Advisory SVBLEERINK Alternative Equities TOOLS & DIAGNOSTICS lu wwwww Leveraged Finance Structured Finance/ Royalties Convertible Securities MEDICAL DEVICES Equity Capital Markets NEW HEALTHCARE SERVICES ● Q1'21 activity SVB Leerink continues to capitalize on strong public markets: 32 book-run transactions in Q1 ($6.5B in aggregate deal value) Expanded team and leadership; new Leveraged Finance and Structured Finance practices SVB LEERINK REVENUE* $ Millions Commissions Investment Banking SVB Leerink expenses* + 62.9 16.0 46.9 + 158.4 16.9 141.5 108.4 16.2 92.2 FY'21 outlook key drivers Shifting conditions may create volatility for market sensitive revenues: 150.9 166.7 24.4 17.4 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 $62.0M $108.7M $77.6M $130.7M $136.4M + Strengthening collaboration 133.4 142.3 * Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q1 2021 Earnings Release and our non GAAP reconciliations at the end of this presentation. Investment banking revenue Strong, but lower expected revenue relative to 2020's record New hires and expertise Deepening Healthcare Investment Banking practice and expanding into Leveraged Finance and Structured Finance Between Silicon Valley Bank and SVB Leerink Commissions revenue Sales and trading may benefit from market volatility Q1 2021 Financial Highlights 28#29Record warrant and investment gains as client exit activity accelerated Gains will fluctuate with changes in valuation and market conditions ● ● • $116M realized warrant gains from exercises related to Coinbase Global, Inc.'s direct listing ● Q1'21 activity Robust client exit activity drove sales of public equity securities, warrant exercises and improved valuations ● Sold remaining BigCommerce, Inc. shares for $182M, realizing $43M investment gains in Q1 ● • $64M investment gains from improved valuations of SVB Capital funds and strategic investments $62M warrant gains from valuation increases of private company portfolio driven primarily by pending SPAC activity, as well as pending M&A and IPO activity FY'21 key drivers Shifting conditions may create volatility for marketsensitive revenues: + + Valuations of warrants and non-marketable and other equity securities Fluctuate with market conditions and public and private fundraising and exit activity, but offer meaningful long-term earnings support Realized gains from sale of Coinbase shares Sold all Coinbase shares in April- recording additional $38M pretax gains in Q2'21 svb> WARRANT AND INVESTMENT GAINS NET OF NCI¹ $ Millions Warrant gains Investment Securities gains Warrants 61.0 13.4 47.6 Non-marketable and other equity securities² Q1'20 152.7 WARRANTS & NON-MARKETABLE AND OTHER EQUITY SECURITIES² $ Millions 47.0 162.0 26.5 20.5 Q2'20 171.1 555.5 590.4 215.8 Q1'20 Q2'20 53.8 Note: The extent to which unrealized gains (or losses) from investment securities from our nonmarketable and other equity securities portfolio as well as our equity warrant assets will become realized is subject to a variety of factors, including, among othethings, performance of the underlying portfolio companies, investor demand for IPOs and SPACs, fluctuations in the underlying valuatin of these companies, levels of M&A activity and legal and contractual restrictions on our ability to sell the underlying securities. 1. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q1 2021 Earnings Release and our noRGAAP reconciliations at the end of this presentation. 2. Net of investments in qualified affordable housing projects and noncontrolling interests. 202.2 247.9 818.1 143.8 104.1 Q3'20 Q4'20 Q1'21 363.7 203.4 221.7 142.0 244.3 972.6 1,014.9 Q3'20 Q4'20 Q1'21 Q1 2021 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 3 O svb > 22 -2 -7 23 11 -10 -16 0 -58 2002 2003 2004 2005 2006 2007 2008 2009 2010 37 2011 19 -21 2012 46 71 71 10 -26 -30 2013 2014 2015 38 55 -35 89 -28 138 237 -23 -27 -45 2016 2017 2018 2019 2020 $707M Cumulative net gains (2002-Q1'21 Warrant gains less Early-Stage NCOS) 222 -14 Q1'21 Net Gains on Equity Warrant Assets Early-Stage NCOS Q1 2021 Financial Highlights 30#31Outstanding performance and SVB Leerink expansion drove Q1'21 expenses higher than guidance; Expect FY'21 expense % growth in the high teens ● Q1'21 activity QoQ decline in expenses driven by one-time $29M real estate charges and $20M PPP donation in Q4'20 • Higher than forecast compensation expenses from record SVB Leerink revenue and warrant gains, strong firmwide performance and hiring related to SVB Leerink expansion initiatives NONINTEREST EXPENSES $ Millions Core Operating Efficiency Ratio* Other Occupancy BD&T Premises and Equipment Professional Services Compensation and benefits Average FTES svb > 47.7% 400 46 18 27 39 256 Q1'20 3,672 14 55.7% 56.9% 480 46 19 28 64 320 Q2'20 3,855 3 491 45 19 31 67 327 2 62.7%* 665 81 45 42 77 416 4 58.5% 636 55 18 33 81 445 Q3'20 Q4'20 Q1'21 4,216 4,419 4,601 4 FY'21 outlook key drivers • FY'21 performance (and related incentive compensation) will be key driver of expense growth • Accelerating investments in our strategic priorities to capture compelling long-term growth opportunity of our markets: Key 2021 investment focus areas (included in guidance, see page 11 for more information) Silicon Valley Bank • Digital banking and client experience Grow sponsor led buyout lending (collaboration with SVB Leerink) New product development svb Silicon Valley Bank SVB Leerink Deepen Equity Capital Markets franchise New Leveraged Finance and Structured Finance practices Regulatory Large Financial Institution requirements UK subsidiarization SVBLEERINK SVB Private Bank Boston Private planning (costs incurred ahead of close) Diversify products and grow mortgages ● * 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 Q1 2021 Earnings Release and our non-GAAP reconciliations at the end of this presentation. Q4'20 core operating efficiency ratio also excludes $29M real estate expenses and $20M SBA PPP donation. SVB Capital Debt platform Life science strategy ● Scalability • Technology to enhance employee enablement Data foundation svb Private Bank svb > Capital People • Talent attraction, retention and development Note: Opportunistic investments to advance our strategy could result in expenses not included in current FY'21 guidance Q1 2021 Financial Highlights 31#32Summary svb > Thriving markets Executing on our vision Robust liquidity Improving economic environment Long-term focus Well-positioned for long-term growth Innovation is driving economic growth, and digital adoption and activity in healthcare are accelerating 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 Increased business activity with vaccine distributions and re-openings - monitoring new COVID-19 variants and continued spread Continue to invest to drive and support scalable long-term growth Robust earnings power with diverse revenue streams to drive earnings throughout cycles; coiled spring potential of eventual rate increases as economy improves Q1 2021 Financial Highlights 32#33Appendix svb > Q1 2021 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. 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 59% R Individuals Influencers: Entrepreneurs, Investors, Executives U.S. venture-backed technology and healthcare companies with IPOs in Q1'21 Q1 2021 Financial Highlights 34#35Differentiated business model Deep sector expertise ENERGY & RESOURCE INNOVATION Ô SOFTWARE & INTERNET GLOBAL COMMERCIAL BANKING Unparalleled access, connections and insights to make NEXT happen NOW FUNDS MANAGEMENT svb > Comprehensive solutions } FINTECH INVESTORS $ PREMIUM WINE BANKING INVESTMENT SOLUTIONS PRIVATE BANKING & WEALTH MANAGEMENT TI HARDWARE FRONTIER TECH 2+5 LIFE SCIENCE & HEALTHCARE RESEARCH & INSIGHTS INVESTMENT BANKING O 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 Q1 2021 Financial Highlights 35#36Key performance indicators ROE and EPS 12.4% Return on Equity Diluted $9.20 EPS 3.05% Net Interest Margin Net Interest Income¹ 20.6% 20.0% 16.8% NET INTEREST INCOME AND NIM $ Billions 1.4 $18.11 svb> $21.73 2017 2018 2019 2020 Q1'21 3.57% 3.51% 1.9 $22.87 2.1 27.04% 2.67% 2.2 $10.03 2.29% 0.7 2017 2018 2019 2020 Q1'21 AVERAGE TOTAL LOANS $ Billions 21.2 379 25.6 516 2017 2018 2019 2020 Q1'21 CORE FEES AND SVB LEERINK REVENUE² $ Millions 894 29.9 252 642 1,084 37.3 481 603 46.3 326 167 159 2017 2018 2019 2020 Q1'21 SVB Leerink Revenue (Investment Banking Revenue and Commissions) Core Fee Income 1. Net interest income presented on a fully taxable equivalent basis. 2. Non-GAAP financial measure. See "Use of nonGAAP Financial Measures" in our Q1 2021 Earnings Release and our non-GAAP reconciliations at the end of this presentation. 3. Non-performing loans as a percentage of periodend total loans. 4. Net loan charge-offs as a percentage of average total loans. AVERAGE TOTAL CLIENT FUNDS $ Billions Average Deposits Average Client Investment 94.2 42.7 Funds 51.5 NPLS³ NCOs4 0.51% 0.27% 2017 0.34% 123.2 NET CHARGE-OFFS AND NON-PERFORMING LOANS 48.1 0.22% 2018 75.1 0.32% 146.7 55.1 91.6 2019 2017 2018 2019 2020 Q1'21 192.4 0.24% 0.23% 75.0 117.4 Less $80M GFB potential fraud incident 0.20% 10.20% 262.2 110.6 Q1 2021 Financial Highlights 151.6 0.79% 0.09% 2020 Q1'21 36#37Strong liquidity franchise Uniquely positioned to drive balance sheet growth 1 On and off balance sheet liquidity solutions Q1'21 AVERAGE BALANCES $262.2B TOTAL CLIENT FUNDS $110.6B ON-BALANCE SHEET DEPOSITS $151.6B OFF-BALANCE SHEET CLIENT FUNDS 40+ liquidity management products to meet clients' needs and optimize pricing and mix svb > 2 DEPOSITS 17% 24% 2% Diversified sources of liquidity from high-growth markets 3% 1% 13% 2% OBS CLIENT FUNDS 1% 27% 11% 7% 23% 19% 17% 33% CLIENT NICHE¹: Early-Stage Technology Technology Early-Stage Life Science/ Healthcare Life Science/ Healthcare International² U.S. Global Fund Banking Private Bank Other 1. As of March 31, 2021. 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 24 of the top 50 US banks by asset size as of April 21, 2021. 3 Low cost deposits Q1'21 AVERAGE COST OF DEPOSITS 4 bps SVB 13 bps TOP 50 BANKS³ 66% of total Q1'21 average deposits are noninterest-bearing Q1 2021 Financial Highlights 37#38High-quality balance sheet growth driven by deposits PERIOD-END ASSETS $ Billions 51.2 2017 svb > 37% CAGR 56.9 71.0 85% of assets in high-quality investments and low credit loss experience lending* 115.5 142.3 2018 2019 2020 Q1'21 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 46.9 38% CAGR 51.7 64.4 2017 2018 2019 * Based on cash, fixed income investment portfolio and Global Fund Banking and Private Bank loan portfolios as of March 31, 2021. Noninterest-bearing deposits 64% of total liabilities 107.1 2020 132.2 Other Liabilities Borrowings Q1'21 Interest-bearing Deposits Noninterest- bearing Deposits Q1 2021 Financial Highlights 38#39High-quality and liquid investment portfolio U.S. Treasuries and agency-backed securities make up 93% of fixed income portfolio PERIOD-END AVAILABLE- Managing for flexibility and FOR-SALE SECURITIES $ Billions 11.1 2017 7.8 svb > 2018 positioning for higher rates through hedging activity (targeting <2y hedge adjusted AFS portfolio duration) 14.0 2019 30.9 26.0 2020 Q1¹21 U.S. Treasury securities U.S. agency debentures Agency-issued collateralized mortgage obligations - fixed rate Agency-issued collateralized mortgage obligations - variable rate Agency-issued residential mortgage-backed securities PERIOD-END HELD-TO- MATURITY SECURITIES $ Billions 12.7 2017 15.5 2018 Opportunistically buying strong credit-quality munis and corporate bonds to support portfolio yields * Equity securities in public companies are reported in available-for-sale securities in 2017. Upon the adoption of ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities, on January 1, 2018, these equity securities are reported in non-marketable and other equity securities. 13.8 2019 16.6 2020 41.2 Q1'21 Municipal bonds and notes Agency-issued commercial mortgage-backed securities Equity securities* Corporate bonds Q1 2021 Financial Highlights 39#40Improved 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 9% 10.9 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 2013 2014 svb > * Includes $1.6B of SBA PPP loans in 2020 and in Q1'21. 6% 16.7 2015 6% 19.9 2016 23.1 6% 2017 28.3 6% 2018 33.2 5% 2019 45.2 3% 2020 47.7 3% Q1'21 Other* Technology and Life Science/Healthcare Premium Wine Private Bank Global Fund Banking Q1 2021 Financial Highlights 40#41Long 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 0.62% 0.64% 11 -0.08% 0.25% svb > 0.26% 0.31% 0.18% 0.14% 0.10% 0.04% 1.57% 0.35% 2000 30% Early-Stage 5% GFB + Private Bank 1.15% 0.87% 2.64% 1. Non-performing loans as a percentage of periodend total loans. 2. Net loan charge-offs as a percentage of average total loans. 0.71%0.77% 0.52% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Global Financial Crisis 0.47% 0.42% 0.31% -0.02% 0.32% 0.33% 0.27% J 0.73% 0.59% 2009 11% Early-Stage 30% GFB + Private Bank 0.30% 0.51% 0.46% 0.27% 2015 2016 2017 VC Recalibration Less $80M GFB potential 0.79% fraud incident 0.200.20% 0,34% 0.32% 0,23% 0.22% 0.24% 2018 2019 2020 Q1'21 COVID-19 Pandemic Q1'21 3% Early-Stage 68% GFB + Private Bank 0.09% Q1 2021 Financial Highlights 41#42Low credit risk capital call lines of credit Largest driver of loan growth over past 7 years; strong underwriting and weltdiversified 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 55% of total loans Strong sources of repayment % LIMITED PARTNER COMMITMENTS and robust secondary markets svb > (%) VALUE OF FUND INVESTMENTS with solid asset coverage Recent potential fraud loss is an isolated event in our -30 years of capital call lending 1. Capital call lines represent 97% of GFB portfolio. 2. Based on total GFB loan commitments (funded + unfunded) as of March 31, 2021. Global Fund Banking portfolio² BY INVESTMENT STYLE PE Funds BY INDUSTRY VC funds Real Estate Debt Other 5% 9% 18% 11% Infrastructure Natural Resources FinTech Life Sciences Industrial Energy Other 3%,6% 4% 10% Real Estate 7% 6% Consumer 15% 11% 24% Fund of Funds 18% 15% Growth Debt Buyout 37% Technology Q1 2021 Financial Highlights 42#43Supporting innovation around the world Q1'21 VC investment by market* SVB Financial Group's offices SVB Financial Group's international banking network Expanding our platform globally ZN U.K. 2004 London Full-service branch (2012) svb> China 2005 Shanghai Beijing (2010) Business development Israel 2008 Tel Aviv Business development * As of March 31, 2021. Source: PitchBook. $78B $22B AMERICAS EMEA Hong Kong -2009 Business development China 2012 SPD Silicon Valley Bank (JV) Shanghai Additional JV branches Beijing (2017) Shenzhen (2018) Europe 2016 $34B APAC Ireland (2016) Business development Germany (2018) Lending branch Denmark (2019) Business development Canada 2019 Toronto (2019) Lending branch Vancouver (2020) Business development Q1 2021 Financial Highlights 43#44Growing international activity $7.1B INTERNATIONAL AVERAGE LOANS 15% of total loans $1.9 2017 $7.7 2017 svb> $2.8 2018 $25B INTERNATIONAL AVERAGE DEPOSITS 23% of total deposits 50% CAGR $10.4 $3.9 2018 2019 44% CAGR $11.6 2019 $5.4 2020 $15.1 2020 $7.1 Q1'21 $25.0 Q1'21 $3.5B INTERNATIONAL AVERAGE OBS CLIENT FUNDS 2% of total OBS client funds $1.4 2017 $33.8 $2.4 2017 2018 $24.5M INTERNATIONAL CORE FEE INCOME¹ 15% of total core fees 32% CAGR $3.0 31% CAGR² $54.0 2018 2019 Note: Reflects figures for international operations in U.K., Europe, Israel and Asia (Canada is included in our U.S. Technolgy Banking segment). This management segment view does not tie to regulatory definitions for foreign exposure 1. Non-GAAP financial measure. See "Use of non-GAAP Financial Measures" in our Q1 2021 Earnings Release and our no GAAP reconciliations at the end of this presentation. 2. 2017-2020 CAGR. $67.0 2019 $3.3 2020 $75.3 2020 $3.5 Q1'21 $24.5 Q1'21 Q1 2021 Financial Highlights 44#45Industry-leading performance Strong return RETURN ON EQUITY on equity Strong total shareholder return svb > 12.38% 9.77% 2017 20.57% 12.76% 2018 TOTAL SHAREHOLDER RETURN³ 1/1/16-3/31/21 20.03% 11.80% 2019 16.83% 8.27% m 2. Q1'21 represents annualized ROE. Q1'21 peer ROE includes 10 of 15 peers as of April 21, 2021. 3. Cumulative total return on $100 invested on 1/1/16 in stock or index. Includes reinvestment of dividends. 2020 1/1/16 7/1/16 1/1/17 7/1/17 1/1/18 7/1/18 1/1/19 7/1/19 1/1/20 1. Source: S&P Global Market Intelligence. "Peers" refers to peer group as reported in our Proxy Statement for each year and is suject to change on an annual basis. 27.04% 13.70% Q1'21² 7/1/20 3/31/21 SVB Peer Average¹ SVB 4.2x S&P 500 1.9x BKX 1.6x Q1 2021 Financial Highlights 45#46Acquisition 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 ($18.7B 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. Te acquisition is expected to close in mid2021 subject to the satisfaction of customary closing conditions, including receipt of egulatory 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 March 31, 2021. 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. Q1 2021 Financial Highlights 46#47Combined 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 Private Bank 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 Q1 2021 Financial Highlights 47#48Increasing 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 O 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 svb > 2 E 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 2020 CONTRIBUTIONS 34 Partner organizations focused on furthering DEI in innovation Increase diversity of senior leaders to 56% by 2025 $1.0M Donated to causes supporting gender parity in innovation Reach senior leadership gender parity 50/50 by 2030 $3.1M Support for diverse, emerging talent in innovation 3 DIVERSITY AT SVB* Diverse (us) Female (Global) Measure and communicate progress Racial Minority (US) Total Workforce 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 March 31, 2021. Diverse includes (as disclosed to us) any woman, any person of color, veteran or person witdisability. Person of color refers to anyone who self identifies as Hispanic/Latino, Black or African American, Asian, American Indian or Native AlaskanNative Hawaiian or Other Pacific Islander or Two or More Races/Other. We utilize this blended measure to include different backgrounds and social cagorizations. Senior leader includes the following job levels: Executive Committee (includes our executive officers) and leaders from certain top leads of SVB's two highest bands of management. 67% 44% Championing causes that impact access to and diversity in the innovation economy E 41% Senior Leaders 52% 34% 29% s Board Members Q1 2021 Financial Highlights 69% 31% $20M Donated SBA PPP fees (net of costs incurred) to diversity and community efforts (donations will be managed through the SVB Foundation) 15% 01/ MOTEUA 48#49Strong, seasoned management team svb > Diverse experience and skills to help direct our growth Dan Beck CHIEF FINANCIAL OFFICER 4 years at SVB Marc Cadieux CHIEF CREDIT OFFICER 29 years at SVB Mike Descheneaux PRESIDENT SILICON VALLEY BANK 15 years at SVB Laura Izurieta CHIEF RISK OFFICER 5 years at SVB Michael Zuckert GENERAL COUNSEL 7 years at SVB Greg Becker PRESIDENT AND CEO SVB FINANCIAL GROUP 28 years at SVB John China PRESIDENT OF SVB CAPITAL 25 years at SVB Michelle Draper CHIEF MARKETING OFFICER 8 years at SVB Jeffrey A. Leerink CHIEF EXECUTIVE OFFICER SVB LEERINK 2 years at SVB Yvette Butler PRESIDENT OF SVB PRIVATE BANK & WEALTH MANAGEMENT 3 years at SVB Phil Cox CHIEF OPERATIONS OFFICER 12 years at SVB Chris Edmonds- Waters CHIEF HUMAN RESOURCES OFFICER 17 years at SVB John Peters CHIEF AUDITOR 14 years at SVB 13 years average tenure at SVB Q1 2021 Financial Highlights 49#50Glossary 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 Q1 2021 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, SVB Leerink 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. Note regarding Q1'21 expectations presented and non-GAAP measures - Non-GAAP Core Fee Income and SVB Leerink Revenue collectively represent noninterest income, but exclude certain line items where performance is typically subject to market or other conditions beyond our control. Non-GAAP Noninterest Expense represents noninterest expense, but excludes expenses attributable to noncontrolling interests. As we are unable to quantify such line items that would be required to be included in the comparable GAAP financial measure for the future period presented without unreasonable efforts, no reconciliation for the outlook of these non-GAAP measures to the comparable GAAP financial measures for Q1'21 is included in this presentation, as we believe such reconciliation would imply a degree of precision that would be confusing or misleading to investors. 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. svb > Q1 2021 Financial Highlights 50#51Acronyms and abbreviations ACL - Allowance for credit losses AFS Available-for-sale API Application programming interface AUM - Assets under management - Bp - Basis point BD&T - Business development & travel CAGR - Compound annual growth rate CFD Cash-flow dependent CMO Collateralized mortgage obligation CMBS - Commercial mortgage-backed security Corp Fin - Corporate Finance DEI - Diversity, equity and inclusion Dep Dependent EOP- End of period Ex - Excluding EPS Earnings per share FHLB Federal Home Loan Bank FRBFederal Reserve Board FTE - Full-time employee FX - Foreign exchange GFB Global Fund Banking HC Healthcare HNW/UHNW - High net worth, ultra high net worth HTM Held-to-maturity ID Investor dependent LIHTC - Low income housing tax credit funds LOC Letter of credit svb > LTV Loan-to-value LS - Life science M&A - Merger & acquisition MBS - Mortgage-backed security Munis - Municipal bonds NCI - Non-controlling interests NCO Net charge-off NII Net interest income NIM-Net interest margin NPL - Non-performing loan OBS Off-balance sheet OCI - Other comprehensive income PE - Private equity QoQ- Quarter over quarter Repo - Repurchase agreement RMBS Residential mortgage-backed security ROE Return on equity SEC - Securities & Exchange Commission SBA PPP - Small Business Administration Paycheck Protection Program SPAC - Special purpose acquisition company TBV - Tangible book value TCP Total client position Tech Technology VC - Venture capital YoY-Year over year YTD Year to date Q1 2021 Financial Highlights 51#52svb > ALA Ap Non-GAAP reconciliations Q1 2021 Financial Highlights 52#53Non-GAAP reconciliation Core Fee Income Non-GAAP core fee income (dollars in thousands) GAAP noninterest income Less: gains on investment securities, net of NCI 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 2017 $557,231 64,603 54,555 59,110 $378,963 $378,963 Year ended December 31, 2018 2019 $744,984 88,094 89,142 51,858 $515,890 $515,890 svb > See "Use of non-GAAP Financial Measures" in our Q1 2021 Earnings Release for more information. $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 Q1'21 $744,180 167,078 221,685 29,792 $325,625 142,302 24,439 166,741 $158,884 Q1 2021 Financial Highlights 53#54Non-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 A B с D 2017 1,010,655 813 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 1,861,220 51.11% 54.26% Year ended December 31, 2018 2019 1,188,193 522 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 GAAP operating efficiency ratio (A/C) Non-GAAP core operating efficiency ratio (B/D) svb > See "Use of non-GAAP Financial Measures" in our Q1 2021 Earnings Release for more information. 2,471,090 45.02% 48.06% 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 56,346 697,085 3,318,080 2,804,311 48.26% 48.06% 2020 2,035,041 475 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 1,840,148 86,375 1,753,773 334,283 237,428 413,985 66,640 701,437 3,996,432 2,873,347 50.92% 55.90% Q1'21 636,001 117 635,884 136,351 499,533 659,579 5,555 665,134 665,134 166 664,968 744,180 25,067 719,113 142,047 221,685 142,302 24,439 188,640 1,403,759 853,608 45.31% 58.52% Q1 2021 Financial Highlights 54#55Important 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 our Form 8-K on April 22, 2021, 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 > Q1 2021 Financial Highlights 55#56svb Financial Group 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. Q1 2021 Financial Highlights 56#57svb> 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@SVBFinancial Group Q1 2021 Financial Highlights 57