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PresentationWilliam CiminoSenior VP & Director of Investor Relations Good morning, everyone. It's good to see so many of you in person, and welcome to those listening to us online today. Please note that today's slide presentation is available to download through the investor website link, which can be easily found on our investor website, investors.atlanticunionbank.com. To download today's presentation, if you're watching online, just scroll down and click the download button. And for those of you in the ...

Atlantic Union Bankshares (NYSE:AUB) 2025 Investor Day December 10, 2025 11:45 AM ET Company ParticipantsBill Cimino - Senior VP of Investor RelationsDavid Bishop - DirectorBrian Wilczynski - VP of Equity ResearchDavid Ring - Wholesale Banking ExecutiveRob Gorman - CFOJanet Lee - Director and US Mid-Cap Banks Equity ResearchJohn Asbury - CEODave Sokol - ChairmanMatt Linderman - CIOMaria Tedesco - President and COOCatherine Mealor - Managing Director of Equity ResearchJay O'Brien - President of the Greater W ...

Investor Day December 10, 2025 Forward-looking Statements This presentation and statements by our management may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include, without limitation, statements regarding our strategic initiatives, priorities, plans and vision; our acquisition of Sandy Spring Bancorp, Inc. ("Sandy Spring") and expectations with regard to the benefits of the Sandy Spring a ...

Core Viewpoint - Atlantic Union Bankshares (AUB) has experienced a strong rally since its April lows but has not fully recovered from earlier losses, resulting in a 5% decline year-to-date [1]. Company Summary - AUB is a Virginia-based bank that has not yet regained its previous value despite recent gains [1]. - The investment strategy favored by the company focuses on a long-term, buy-and-hold approach, particularly in high-quality earnings stocks, often found in the dividend and income sectors [1].

Group 1 - The stock of Atlantic Union Bankshares Corporation (AUB) is experiencing significant attention due to high implied volatility in the options market, particularly for the Jan. 16, 2025 $22.5 Call option [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that investors anticipate a significant change in the stock's price, potentially due to an upcoming event [2] - Atlantic Union Bankshares holds a Zacks Rank 3 (Hold) in the Banks – Northeast industry, which is in the top 20% of the Zacks Industry Rank, with recent earnings estimates showing a slight increase from 85 cents to 86 cents per share [3] Group 2 - The high implied volatility may indicate a developing trading opportunity, as options traders often seek to sell premium on options with high implied volatility to capture decay [4]

Core Points - Atlantic Union Bankshares Corporation will host an investor day on December 10, 2025, at the New York Stock Exchange, focusing on the company's strategic priorities and future plans [1][2] - The event will feature presentations from key executives, including President and CEO John Asbury, CFO Rob Gorman, and President and COO Maria Tedesco [1] - Attendees can participate either in person or virtually, with pre-registration required for in-person attendance [2] Company Overview - Atlantic Union Bankshares Corporation is headquartered in Richmond, Virginia, and operates as the holding company for Atlantic Union Bank [3] - The bank has branches and ATMs in Virginia, Maryland, North Carolina, and Washington D.C., and offers various non-bank financial services through its affiliates [3]

Market Performance - On November 7, 2025, the Australian stock market experienced a decline, with all major indices ending in negative territory. The S&P/ASX 200 fell to 8,769.70 from 8,828.30, a decrease of 0.7% [1][6] - The S&P/ASX 20 also dropped to 4,863.80 from 4,900.00, marking a 0.7% decline [1][6] - Broader indices such as the S&P/ASX 50 and S&P/ASX 100 saw declines of 0.6%, closing at 8,451.90 and 7,308.00 respectively [6] Futures Market - The S&P/ASX 200 futures for December 2025 declined by 0.62%, trading at 8,788.5, down 54.5 points [2][6] Top Gainers - AUB Group Limited (AUB) led the gainers, increasing by $2.30 or 6.285% to close at $38.890 [4][6] - ASX Limited (ASX) rose by $2.17, representing a 3.773% increase to $59.680 [4][6] - News Corporation (NWS) gained $1.36 or 3.022%, finishing at $46.350 [4][6] - GPT Group (GPT) added $0.16, lifting its share price by 2.996% to $5.500 [4][6] - Lynas Rare Earths Limited (LYC) rounded out the top five performers, up $0.38 or 2.891% to $13.520 [4][6] Top Decliners - Block, Inc. (XYZ) recorded the steepest decline, tumbling $17.79 or 15.756% to $95.120 [5][6] - Zip Co Limited (ZIP) dropped $0.24, a 6.649% decline to $3.370 [5][6] - Qantas Airways Limited (QAN) lost $0.67, down 6.582% to $9.510 [5][6] - Domino's Pizza Enterprises Limited (DMP) slipped $1.17 or 5.839% to close at $18.870 [5][6] - Macquarie Group Limited (MQG) fell $12.48, a 5.745% decrease to $204.770 [5][6]

Merger and Acquisition - The merger with Sandy Spring Bancorp, Inc. was completed on April 1, 2025, with successful integration of operations by October 14, 2025, leading to increased average balances and net interest income [209]. - The integration of Sandy Spring is expected to yield strategic gains and cost savings, although realization of these benefits is subject to various risks [194]. - The company recorded preliminary goodwill of $512.3 million related to the Sandy Spring acquisition as of September 30, 2025 [219]. - The company paid down $116.1 million in brokered deposits in Q3 2025, with total brokered deposits decreasing to $1.0 billion from $1.2 billion at December 31, 2024 [319]. - The company recorded $89.5 million of Day 1 initial provision expense on non-PCD loans acquired from Sandy Spring in Q2 2025 [312]. - Preliminary goodwill associated with the Sandy Spring acquisition totaled $512.3 million at September 30, 2025 [257]. Financial Performance - Net income available to common shareholders for Q3 2025 was $89.2 million, with basic and diluted EPS of $0.63, compared to $73.4 million and $0.82 in Q3 2024 [218]. - For the first nine months of 2025, net income available to common shareholders was $152.8 million, with basic and diluted EPS of $1.23 and $1.22, respectively, compared to $142.4 million and $1.68 in the same period of 2024 [218]. - Adjusted operating earnings for the first nine months of 2025 were $306.4 million, with adjusted diluted operating EPS of $2.46, compared to $191.4 million and $2.25 in the same period of 2024 [218]. - Adjusted operating earnings (non-GAAP) for Q3 2025 were $122,693,000, up from $77,497,000 in Q3 2024, reflecting enhanced operational performance [333]. - Total revenue (FTE) (non-GAAP) for the first nine months of 2025 reached $999,720,000, up from $610,377,000 in the same period of 2024 [329]. Assets and Deposits - Total assets increased to $37.1 billion as of September 30, 2025, up $12.5 billion from December 31, 2024, primarily due to the Sandy Spring acquisition [219]. - Total deposits reached $30.7 billion at September 30, 2025, an increase of $10.3 billion from December 31, 2024, with quarterly average deposits up 53.8% year-over-year [219]. - Total liabilities were $32.2 billion, an increase of $10.7 billion from December 31, 2024, primarily due to growth in deposits from the Sandy Spring acquisition [262]. - Stockholders' equity increased to $4.9 billion, up $1.8 billion from December 31, 2024, mainly due to the issuance of common stock related to the Sandy Spring acquisition [265]. Interest Income and Margin - Net interest income for Q3 2025 was $319.2 million, an increase of $136.3 million from Q3 2024, driven by a $11.6 billion increase in average interest-earning assets [220]. - The net interest margin increased by 46 basis points to 3.77% in Q3 2025 from 3.31% in Q3 2024, attributed to lower cost of funds and higher net accretion from the Sandy Spring acquisition [222]. - For the first nine months of 2025, net interest income was $824.7 million, an increase of $309.5 million from the same period in 2024 [223]. - The net interest margin increased by 40 basis points to 3.68% for the first nine months of 2025 compared to the same period in 2024 [224]. - The average yield on interest-earning assets increased by 11 basis points to 5.89% for the first nine months of 2025 [223]. Noninterest Income and Expense - Noninterest income rose by $78.79 million or 94.2% to $162.44 million for the nine months ended September 30, 2025, compared to $83.65 million in 2024, primarily due to the Sandy Spring acquisition [238]. - Noninterest expense rose by $115.9 million or 94.5% to $238.4 million for the quarter ended September 30, 2025, compared to $122.6 million for the same quarter in 2024, mainly due to a $38.9 million increase in salaries and benefits and a $33.5 million increase in merger-related costs [240]. - Total noninterest expense for the nine months ended September 30, 2025, increased by $274.5 million or 72.6% to $652.3 million, primarily driven by a $93.8 million increase in salaries and benefits and an $85.6 million increase in merger-related costs [243]. Credit Quality and Allowance for Losses - The allowance for credit losses (ACL) rose to $320.0 million as of September 30, 2025, an increase of $126.3 million from December 31, 2024, primarily due to the Sandy Spring acquisition [302]. - Nonaccrual LHFI increased to $131.2 million at September 30, 2025, up from $58.0 million at December 31, 2024, with NPAs as a percentage of LHFI rising to 0.49% from 0.32% [301]. - The provision for credit losses in Q3 2025 was $16.2 million, up $13.6 million from $2.6 million in Q3 2024, with total provisions for the nine months ended September 30, 2025, reaching $139.6 million, an increase of $107.0 million from $32.6 million in the prior year [311]. Economic Environment and Strategy - The economic environment is being closely monitored, with factors such as inflation, unemployment rates, and market interest rates impacting financial results [210]. - The company emphasizes the importance of liquidity and capital resources in light of potential economic changes and market conditions [192]. - The company is focused on managing growth and implementing its growth strategy amid competitive pressures from fintech companies [194]. - The company is committed to monitoring technological risks and cyber threats as part of its operational strategy [194].

Group 1 - The core focus of Quad 7 Capital is to provide investment opportunities through their BAD BEAT Investing platform, emphasizing both long and short trades [1] - The team consists of 7 analysts with diverse expertise in business, policy, economics, mathematics, game theory, and sciences, aiming to educate investors on trading proficiency [1] - Since May 2020, the company has maintained an average position of 95% long and 5% short, showcasing a strategic approach to market conditions [1] Group 2 - BAD BEAT Investing offers various benefits, including weekly well-researched trade ideas, access to multiple chat rooms, and daily summaries of key analyst upgrades and downgrades [2] - The platform also provides education on basic options trading and extensive trading tools to enhance investor knowledge and execution [2]