First Merchants Results Presentation Deck

Highlights Second Quarter ■ ■ Balance sheet strength Improved all capital ratios Continued loan growth, while increasing new loan yields Maintained a low 50's Efficiency Ratio, while managing increasing deposit betas Maintained strong credit quality and a robust allowance for credit losses Reported EPS of $1.02 compared to $0.63 in 2Q22. Excluding PPP income and expenses related to the Level One acquisition, current EPS was $1.02 compared to $1.01 in 2Q22¹,2 Year-to-Date ■ ■ ■ I Net Income & EPS¹ $60.4 Million $1.02 Per Share ■ Net Income & EPS¹ $124.0 Million $2.09 Per Share ROA (Annualized) 1.34% ROA 1.58% PTPP ROA² First Merchants Corporation Helping you prosper ROE & ROTCE (Annualized) 11.29% ROE 18.04% ROTCE² ROA (Annualized) 1.38% ROA 1.62% PTPP ROA² ROE & ROTCE (Annualized) 11.74% ROE 18.91% ROTCE² Reported EPS of $2.09 compared to $1.54 in 2022. Excluding PPP income and expenses related to the Level One acquisition, current YTD EPS was $2.09 compared to $1.89 in 2022¹,2 ¹Net Income and EPS reported on a diluted basis and for common stockholders 2See "Non-GAAP Financial Information" for reconciliation

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