Investor Presentaiton

Capital Management The Company's capital ratios are well above regulatory well capitalized levels as of 6/30/2021. Capital Ratio Regulatory Well Capitalized Atlantic Union Bankshares* Atlantic Union Bank* Common Equity Tier 1 7.0% 10.6% 13.2% Ratio (CET1) Tier 1 Capital Ratio 8.5% 11.7% 13.2% Total Risk Based Capital 10.5% 14.0% 13.6% Ratio Leverage Ratio 5.0% 9.2% (9.8% ex. PPP) Tangible Common Equity Ratio (non-GAAP)4 8.4% (8.8% ex. PPP) 10.4% (11.1% ex. PPP) 10.4% (10.9% ex. PPP) * Capital information presented herein is based on estimates and subject to change pending the Company's filing of its FR Y-9C 2021 Capital Management Actions During the second quarter, the Company paid dividends of $0.28 per common share and $171.88 per outstanding share of Series A Preferred Stock. Repurchased ~1.1 million shares of stock for $42.3 million. In the third quarter, the Company ▸ declared a quarterly dividend of $0.28 per share of common stock ▸ declared a dividend of $171.88 per outstanding share of Series A Preferred Stock; and ~1.5 million of additional shares were repurchased for $54.0 million between July 1, 2021 and August 3, 2021. ution Bankshares Capital Management Strategy Capital Targets AUB's establishes capital targets based on the following objectives: ✓ Maintain designation as a "well capitalized" institution under fully phased-in Basel III regulatory definitions ✓ Ensure capital levels are commensurate with the company's risk profile, capital stress test projections, and strategic plan objectives Capital Management Priorities Support Organic Growth Dividend payout ratio targeted at 35-40% Common Stock Repurchases Merger & acquisition activity Excess Capital Deployment AUB's Tangible Common Equity Ratio target is 8.5% TCE above 8.5% is considered excess capital assuming "well capitalized" regulatory capital ratios are maintained Excess capital can be deployed for ✓ share repurchases, higher shareholder dividends, and/or acquisitions 19

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