Investor Presentaiton

Key Transaction Impacts (¹) TOP TIER CONSOLIDATED IMPACT CURRENT ACCOUNTING ~0.5% GAAP WITH CECL(2) 2020E EPS ACCRETION 2021E EPS ACCRETION ~2.9% ~1.4% ~3.6% INITIAL TBV DILUTION (~0.3%) (~0.7%) TBV EARNBACK PERIOD (3) 1.5 years INTERNAL RATE OF RETURN 1.75 years Greater than 20% PRO FORMA TCE/TA (AT CLOSE) PRO FORMA LEVERAGE (AT CLOSE) PRO FORMA TIER 1 RBC (AT CLOSE) PRO FORMA TRBC (AT CLOSE) 9.3% 9.5% 12.6% 15.3% BANK LEVEL IMPACT CURRENT ACCOUNTING GAAP WITH CECL(2) PRO FORMA C&D CONCENTRATION PRO FORMA CRE CONCENTRATION (1) Estimated impacts provided solely for illustrative purposes (2) Includes estimated pro forma impacts of CECL during M&A purchase accounting (3) Tangible book value earnback period calculated using the crossover method; inclusive of all one-time related transaction expenses Source: S&P Global Market Intelligence; FactSet Research Systems; Company-provided documents < 80% < 200% ST TheFirst BANCSHARES, INC. 11

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