MMA & Savings Time Deposits $30 $6 $ in billions TOTAL LOAN PORTFOLIO Investor CRE 8,703 $ 9.0B $ 1,029,400 Constr., Dev. & Land 4,846 2.7B 567,300 Top 10 Represents ~ 2% of total loans Loan portfolio balances, average balances or percentage exclude loans held for sale and PPP loans (1)~(3) For end note descriptions, see Earnings Presentation End Notes starting on slide 46. LOAN PORTFOLIO – OFFICE EXPOSURE • Office represents 4% of the loan portfolio • Approximately 10% is located within the Central Busines ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2022 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-12669 SOUTHSTATE CORPORATION (Exact name of registrant as specified in its charter) South Carolina (State or other jurisdiction o ...

SouthState Corporation (NYSE:SSB) Q4 2022 Earnings Conference Call January 27, 2023 10:00 AM ET Company Participants Jeremy Lucas - SVP, Director of IR John Corbett - CEO and Director Will Matthews - CFO Steven Young - Chief Strategy Officer Conference Call Participants Stephen Scouten - Piper Sandler Catherine Mealor - KBW Michael Rose - Raymond James David Bishop - Hovde Group Operator Hello, and welcome to SouthState Corporation Q4 2022 Earnings Conference Call. [Operator instructions] I'd now like to tu ...

2 $30 Billion in loans Public Banks 2021 5 $1,403 Loans and deposits as of 12/31/22; excludes $1.9B of loans and $2.5B of deposits from internal accounts and national lines of business Country GDP as of 2022; State GDP as of 3Q22 Sources: S&P Global, International Monetary Fund, US Bureau of Economic Analysis Net Domestic Migration in SouthState Footprint y DISCLAIMER Top 50 16 Greenwich Excellence and Best Brand awards from Coalition Greenwich POSITIONED FOR THE FUTURE IN THE BEST GROWTH MARKETS IN AMERICA ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-12669 SOUTHSTATE CORPORATION (Exact name of registrant as specified in its charter) South Carolina 57-0799 ...

Financial Data and Key Metrics Changes - The company reported a significant increase in PPNR per share, up 47% from the same period last year [11] - Net interest margin (NIM) expanded by 43 basis points in Q3, following a 35 basis point increase in Q2, totaling a 78 basis point expansion over two quarters [12][13] - Net interest income reached $358 million, an increase of $44 million from Q2, with core net interest income at $349 million, up $47 million from the prior quarter [24] - Non-interest income decreased by $11 million from Q2, primarily due to declines in correspondent and mortgage revenue [24] Business Line Data and Key Metrics Changes - Total loans grew at an annualized rate of 13%, evenly split between commercial and retail banking [14] - Mortgage production was strong, with nearly $1.1 billion produced in the quarter, but only 22% was sold in the secondary market [25] - Non-interest expense was $227 million, slightly up from Q2, contributing to an efficiency ratio of 50% [27] Market Data and Key Metrics Changes - Average deposit balances declined by approximately 4% annualized, but the company maintained about $2.5 billion in cash and $5.5 billion in available-for-sale securities, representing 18% of the balance sheet [17] - The company experienced minimal impact from Hurricane Ian, with less than 1% of loans in the hardest-hit areas and few requests for payment deferrals [15] Company Strategy and Development Direction - The company is focused on maintaining strong funding, surplus capital, and operating in rapidly growing states, positioning itself well for future challenges [21] - Management emphasized a cautious outlook for 2023, acknowledging potential recession risks while expressing confidence in their operational strategy and market positioning [21] Management's Comments on Operating Environment and Future Outlook - Management noted that the current economic environment, characterized by rising interest rates and tightening liquidity, will differentiate bank performance [10] - The company plans to continue delivering exceptional client service and building franchise value, regardless of economic conditions [21] Other Important Information - The company has consolidated several branches, which contributed to the reduction in deposits [19] - The risk-based capital ratios remain strong, with CET1 at 11% and total risk-based capital at 12.9% [30] Q&A Session Summary Question: NIM and Rate Sensitivity - Management discussed expectations for NIM, forecasting it to range between 360 and 380 basis points through the end of 2023 based on deposit size, interest rate forecasts, and deposit beta assumptions [40] Question: Loan Growth and Underwriting - Management indicated that loan pipelines are slowing due to the Fed's rate increases, with expectations for upper single-digit loan growth in Q4 and potential mid-single-digit growth in 2023 [47] Question: Correspondent Business and Fee Income - Management lowered guidance for correspondent fee income to $20 million to $25 million per quarter until the Fed stops raising rates, reflecting challenges in the current interest rate environment [42] Question: Residential Mortgage Production - Management noted that residential mortgage production is expected to be around $4.5 billion for the year, with a shift towards holding more on the balance sheet due to lower gain on sale margins [54] Question: M&A Environment - Management expressed that the M&A environment is expected to be slow in the near term due to current P/E valuations and economic uncertainty, making it a low priority [59]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-12669 SOUTHSTATE CORPORATION (Exact name of registrant as specified in its charter) South Carolina 57-0799315 ( ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-12669 SOUTHSTATE CORPORATION (Exact name of registrant as specified in its charter) South Carolina 57-0799315 ...

Financial Data and Key Metrics Changes - The company reported earnings per share of $1.39, with adjusted earnings per share at $1.69, yielding a return on tangible common equity of approximately 17% [8] - The net interest margin for Q1 2022 was the highest quarter for net interest income, up $9 million from Q4 2021 [17] - The cost to total deposits reached a new low of 5 basis points for the quarter [19] - The company experienced a significant increase in its investment portfolio, growing from $7 billion to $9 billion during the quarter [12] Business Line Data and Key Metrics Changes - Loan production hit $2.6 billion for the quarter, with linked quarter annualized loan growth at 6.3% excluding Atlantic Capital acquired loan balances [13] - Non-interest income was reported at $86 million, down approximately $6 million from Q4 2021 [20] - The mortgage production for the quarter was $1.27 billion, with 47% going to the secondary market and 53% retained in the portfolio [21] Market Data and Key Metrics Changes - The Southeast economy continues to show strength, with significant population migration and brisk construction activity [7] - The company noted that clients are facing labor shortages and wage pressures due to increased consumer demand [8] Company Strategy and Development Direction - The company is focused on expanding its FinTech and payments verticals following the acquisition of Atlantic Capital [10] - The management emphasized the importance of maintaining a liquid balance sheet and preparing for rising interest rates [11] - The company plans to eliminate NSF fees and introduce new deposit products with no overdraft fees, estimating a net impact of $0.08 to $0.10 per share annually [13] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the strength and resilience of clients despite market concerns about a recession [10] - The company is bullish on loan growth, expecting high single-digit to 10% growth rates, with April showing double-digit growth [42] - Management indicated that the current economic environment is favorable for the company to thrive, particularly due to population shifts to the Southeast [30] Other Important Information - The company repurchased approximately 1 million shares in Q1 2022, with an additional 300,000 shares repurchased in April [27] - The ending regulatory capital levels remain strong, with a CET 1 ratio of 11.4% and total risk-based capital of 13.3% [28] Q&A Session Summary Question: Discussion on asset sensitivity and deposit beta - Management explained that their net interest margin was 2.77% in Q1 and they expect it to improve to 3.2% to 3.3% by the end of Q4 based on Moody's forecasts [34][35] Question: Loan growth expectations - Management indicated that they are targeting high single-digit to 10% loan growth, with current production levels supporting this guidance [42] Question: Correspondent business performance - Management provided guidance that the correspondent division's revenue would remain stable, with expectations for arc revenues to be slightly higher than fixed income due to changes in interest rates [49] Question: Credit provisioning outlook - Management discussed the uncertainty in predicting provisioning levels but expressed confidence in the current asset quality and client cash positions [58] Question: Hiring environment and opportunities - Management highlighted their proactive approach to recruiting talent from larger banks, indicating a strong opportunity for growth in key markets [60] Question: Share buyback strategy - Management stated that their priority is to invest in growth rather than share buybacks, although they will consider repurchases based on market conditions [62]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2021 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-12669 SOUTHSTATE CORPORATION (Exact name of registrant as specified in its charter) South Carolina (State or other jurisdiction o ...