First Merchants Results Presentation Deck

Business Highlights Northwest Indiana Lake County Rank: 6 Lafayette MSA Rank: 2 Deposits: $3.3B Loans: $2.1B Michigan Monroe MSA Rank: 1 Detroit MSA Rank: 9 Deposits: $2.8B Loans: $2.4B Northeast Indiana Muncie MSA Rank: 1 Ft Wayne MSA Rank: 4 Deposits: $4.6B Loans: $2.3B Indianapolis Indianapolis MSA Rank: 7 Deposits: $3.3B Loans: $4.0B MSA and County ranking data per FDIC ¹Commercial includes Public Funds and Consumer includes Private Wealth Columbus Columbus MSA Rank: 12 Deposits: $0.6B Loans: $1.5B First Merchants Corporation Helping you prosper Commercial Consumer Mortgage Total Loan Growth QTD Total Loan Growth YTD *Adjusted Total Loan Growth QTD *Adjusted Total Loan Growth YTD ■ I Loan Growth Annualized¹ 2Q23 Balance ($B) *During the quarter, the non-relational, term loan B portfolio of $116 million was sold with a gain. The total Commercial pipeline remains stable with regional C&I showing growth and IRE and Sponsor activity slowing. The Consumer decline represents balance reductions in the Private Banking portfolios. Overall, this is a small portfolio. Commercial Consumer Total Deposit Growth QTD Total Deposit Growth YTD ■ $9.3 $0.8 $2.0 ■ Deposit Growth Annualized¹ 2Q23 Balance ($B) Growth (0.9)% (0.6)% 18.7% 1.5% 4.7% 5.4% 6.9% $7.3 $6.1 The Commercial decline was primarily attributed to reduction in client liquidity or debt reduction decisions by clients. Accounts remain stable. Consumer sector decline was primarily within the Private Wealth group with clients moving liquidity to alternative investment options. The core, granular nature of our consumer client base remains stable with increasing new account opening levels during the quarter. ■ The mix of both the Commercial and Consumer sectors moved towards higher paying money market and CD account types. Growth (2.1)% (3.7)% (3.3)% 2.8% 7

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