Slide 1: Investor Presentation Fourth Quarter 2025
Investor Presentation Fourth Quarter 2025
Slide 2: Cautionary Note Regarding Forward-Looking Statements
Cautionary Note Regarding Forward-Looking Statements This presentation contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including without limitation those regarding Popular’s business, financial condition, results of operations an
Slide 3: Strategic Framework
Strategic Framework BE THE #1 BANK FOR OUR CUSTOMERS Meet customers where they are. We are their first choice, always one step ahead, fostering loyalty and deepening relationships at every stage of their lives, to drive growth BE SIMPLE AND EFFICIENT Deliver solutions faster, improve productivity, a
Slide 4: 2025 Highlights
2025 Highlights Financial Highlights Annual Highlights ($ in millions, except per share information) Income Statement 2025 2024 Change Highlights: Net Income $ 833 $ 614 $ 219 • Net income of $833 million increased $219 million YoY driven by higher net interest Adjusted Net Income1 823 646 177 incom
Slide 5: Q4 2025 Highlights
Q4 2025 Highlights Financial Highlights Quarter Highlights ($ in millions, except per share information) Income Statement Q4 2025 Q3 2025 Change Q4 2024 Highlights: Net Income $ 234 $ 211 $ 23 $ 178 • Net income increased $23 million to $234 million 1 Adjusted Net Income 224 211 13 178 • Adjusted ne
Slide 6: Q4 Business Highlights
Q4 Business Highlights BPPR Popular U.S. ($ in millions) Q4 2025 Q3 2025 Change Q4 2024 ($ in millions) Q4 2025 Q3 2025 Change Q4 2024 Loans Held in Portfolio $ 27,628 $ 27,131 $ 497 $ 26,147 Loans Held in Portfolio $ 11,669 $ 11,525 $ 144 $ 10,929 P.R. Public Deposits 19,414 20,076 (662) 19,463 Tot
Slide 7: Financial Summary
Financial Summary Quarterly Results (unaudited) ($ in thousands, except EPS) Q4 2025 Q3 2025 Variance Net interest income $ 657,552 $ 646,505 $ 11,047 Provision for credit losses 72,016 75,125 (3,109) Net interest income after provision for credit losses $ 585,536 $ 571,380 $ 14,156 Other fees 11,72
Slide 8: Net Interest Income and NIM Dynamics
Net Interest Income and NIM Dynamics Quarter Highlights: Earning Assets • Net interest income increased by $11 million to $658 million (ending balances, $ in billions)1 $70.8 $72.8 $71.8 $72.1 • Net interest margin increased 10 bps to 3.61% $69.7 0.1 4 70.0 0 ₋ Primarily driven by lower cost of P.R.
Slide 9: Non-Interest Income
Non-Interest Income Quarter Highlights: Change vs. • Non-interest income of $166 million decreased $4 million Q3 Q4 ($ in millions) Q4 2025 Q3 2025 Variance Q4 2024 ⁻ Mainly in other operating income 2025 2024 due to a $5 million retroactive Service charges on deposits $ 38.9 $ 39.1 $ (0.2) $ 38.1 (
Slide 10: Operating Expenses
Operating Expenses Quarter Highlights: Change vs. • Operating expenses decreased by $22 Q3 Q4 million to $473 million $ in millions Q4 2025 Q3 2025 Variance Q4 2024 2025 2024 ⁻ Driven by a $15 million partial release Salaries $ 139.7 $ 139.3 $ 0.3 $ 135.8 0% 3% of the FDIC special assessment reserve
Slide 11: Capital
Capital Quarter Highlights: • Repurchased $719 million in common stock since resumption of share repurchase program in Q3 2024 • Popular, Inc. TCE1 increased 67 bps to 7.29% compared to Q4 2024 • Tier 1 Capital represents 5 bps of Total Capital as of Q4 2025 Common Equity Tier 1 Regulatory Capital S
Slide 12: Non-Performing Assets
Non-Performing Assets Quarter Highlights: Non-Performing Assets • Non-Performing Assets (NPAs) and Non-Performing Loans ($ in millions) (NPLs) decreased $4 million each $545 600 $541 0.040000000 • NPL inflows decreased $194 million as the previous quarter’s 0.035000000 500 $438 $435 $424 inflows inc
Slide 13: NCOs and Allowance for Credit Losses
NCOs and Allowance for Credit Losses Quarterly Highlights: • NCOs decreased $8 million to $50 million, mainly driven by lower commercial NCOs in BPPR. NCO Ratio decreased 9 bps to 0.51%. NCOs in Q4 include $5 million in recoveries from the sale of previously charged-off auto loans and credit cards.
Slide 14: Driving Value
Driving Value Market leader in Puerto Rico • Substantial capital and liquidity with diversified deposit base • Well-positioned to take advantage of market opportunities • Focused on customer service supported by broad branch network • Differentiated omnichannel experience Franchise • Diversified fee
Slide 15: Guidance
Guidance 2026 Guidance 2026 Guidance (GAAP Basis) Commentary Net Interest Income 5%-7% increase for the year Driven by lower cost of P.R. public deposits and loan growth Non-Interest Income $160 million - $165 million per quarter Consistent with recent trends NCOs 55 bps-70 bps annualized Given rece
Slide 16: Footnotes
Footnotes Slide 4 and 5: 1-Refer to Non-GAAP Reconciliation on appendix section 2- Fully taxable equivalent (“FTE”) net interest margin represents a non-GAAP financial measure. See the Corporation's earnings press release, Form 10-Q and Form 10-K filed, or to be filed, with the U.S. Securities and E
Slide 17: Appendix
Investor Presentation Fourth Quarter 2025 Appendix
Slide 18: Corporate Structure
Corporate Structure Franchise Summary Corporate Structure Industry Financial Services Headquarters San Juan, Puerto Rico Assets = $75 billion Assets $75 billion (among top 50 BHCs in the U.S.) Popular Holding Co. Banco Popular Popular’s North (including Popular de Securities Insurance America, equit
Slide 19: Financial Summary 2025
Financial Summary 2025 Annual Results (unaudited) ($ in thousands, except EPS) 2025 2024 Variance Net interest income $ 2,541,203 $ 2,282,288 $ 258,915 Provision for credit losses 260,163 256,942 3,221 Net interest income after provision for credit losses $ 2,281,040 $ 2,025,346 $ 255,694 Banking fe
Slide 20: Q4 2025 vs. Q3 2025 Business Segments
Q4 2025 vs. Q3 2025 Business Segments Financial Results BPPR Popular U.S. (Unaudited) ($ in millions) Q4 2025 Q3 2025 Variance Q4 2025 Q3 2025 Variance Net interest income $ 555 $ 551 $ 4 $ 111 $ 105 $ 6 Provision for credit losses 72 74 (2) - 2 (2) Net interest income after provision for credit los
Slide 21: 2025 vs. 2024 Business Segments
2025 vs. 2024 Business Segments Financial Results BPPR Popular U.S. (Unaudited) ($ in millions) 2025 2024 Variance 2025 2024 Variance Net interest income $ 2,166 $ 1,957 $ 209 $ 412 $ 356 $ 56 Provision for credit losses 241 255 (14) 19 1 18 Net interest income after provision for credit losses 1,92
Slide 22: Loan Composition and Yields
Loan Composition and Yields Highlights: Loans Held-in-Portfolio Average • Loans held in portfolio increased in Q4 to (ending balances, Yields $641 million or 1.7% compared to Q3 $ in millions) Q4 2025 Q3 2025 Variance Q4 2025 (FTE) 2025 Commercial $ 19,760 $ 19,289 $ 471 $ 19,395 6.75% ‐ The increas
Slide 23: Funding Profile and Deposit Composition
Funding Profile and Deposit Composition Highlights: Funding Sources • Deposits at $66.2 billion in Q4 2025, with P.R. public deposits (ending balances, $ in billions) representing 29% of total deposits $1.4 • Total deposit costs, excluding P.R. public deposits, demonstrate the stability of core depo
Slide 24: Deposit Beta
Deposit Beta • BPPR's retail and commercial accounts are low beta products and will react more slowly to changes in short-term interest rates • High beta P.R. public deposits represent 29% of the total deposits • P.R. public deposits are linked to market rates but respond with a lag to changes in th
Slide 25: Investment Portfolio
Investment Portfolio Quarter Highlights: • Conservative investment portfolio, with the majority invested in short to intermediate U.S. Treasuries, which are tax exempt in Puerto Rico • Investment portfolio duration 1.9 years; including cash, 1.6 years • Unrealized loss in the AFS portfolio decreased
Slide 26: Allowance for Credit Losses – Q4 2025
Allowance for Credit Losses – Q4 2025 ACL Movement: ACL Movement • Moody’s baseline forecast shows stronger 2026 U.S. ($ in millions) economic growth 830 810 $12 $808 $41 • Changes in the economic forecast and qualitative 790 $786 reserves impacted mainly the P.R. consumer and 770 $19 mortgage portf
Slide 27: Commercial and Industrial Portfolio
Commercial and Industrial Portfolio Highlights: Commercial and Industrial Portfolio • Commercial and Industrial (“C&I”) credit quality metrics were ($ in millions) $8,598 $8,238 impacted by a $158 million relationship in Q3 2025. Excluding this $7,742 $7,689 $8,037 6.2% relationship, metrics were st
Slide 28: Non-Owner Occupied CRE Portfolio
Non-Owner Occupied CRE Portfolio Highlights: Non-Owner Occupied CRE • Non-Owner Occupied CRE (CRE NOO) Q3 2025 credit ($ in millions) quality metrics include the impact of a $30 million $5,363 $5,541 $5,521 $5,463 $5,543 increase in non-performing loans (NPLs) and a $14 million in net charge-offs (N
Slide 29: Multifamily Loan Portfolio
Multifamily Loan Portfolio Highlights: Multifamily Loans • 88% of the portfolio concentrated in Popular U.S. ($ in millions) • Strong credit risk profile with low levels of delinquency, $2,400 $2,375 $2,521 $2,521 $2,456 NCOs and classified loans: 2,500 $2,214 $2,187 $2,152 1.6% ‐ 30-89 DPD/Loans at
Slide 30: P.R. Mortgage Loan Portfolio
P.R. Mortgage Loan Portfolio Highlights: • 43% of the P.R. mortgage loan portfolio is comprised of U.S. government guaranteed loans • Over the last five years originations with average FICO scores above 750 and LTV of approximately 70% • Delinquency trends better than historical levels FICO Mix of O
Slide 31: Auto Loan Portfolio
Auto Loan Portfolio Highlights: Delinquency Avg. 2011-2019 12/31/2025 ($in millions) • Improvements in credit quality of originations 6.17% 4.89% • Auto balances have remained stable 4500 0.06 $3,819 $3,821 $3,820 $3,862 $3,851 $3,820 $3,661 $3,707 $3,773 • Delinquency and NCO levels for the period
Slide 32: Auto Lease Portfolio
Auto Lease Portfolio Highlights: Delinquency Avg. 2011-2019 12/31/2025 ($in millions) • Auto lease balances have grown steadily 2.06% 1.88% 2500 0.06 • Delinquency and NCO levels for the period remained $1,999 $2,001 $1,925 $1,950 $1,983 below the historical average benchmark $1,828 $1,887 0.05 $1,7
Slide 33: P.R. Personal Loan Portfolio
P.R. Personal Loan Portfolio Highlights: Delinquency Avg. 2011-2019 12/31/2025 ($ in millions) • Portfolio balances have remained stable but growing at a 3.61% 2.75% slower pace since 2024 due to tightening measures $1,776 $1,746 $1,745 $1,754 $1,754 $1,756 $1,792 $1,823 $1,836 200 0 0.06 • Delinque
Slide 34: Credit Card Portfolio
Credit Card Portfolio Highlights: Delinquency Avg. 2011-2019 12/31/2025 ($in millions) • Balances continue to increase due to higher originations 3.74% 4.13% and increased usage • Delinquency and NCOs continue above the historical $1,257 1400 0.06 $1,187 $1,218 $1,188 $1,215 $1,226 $1,124 $1,136 $1,
Slide 35: P.R. Public Sector Exposure
P.R. Public Sector Exposure • Substantially all the Corporation’s direct exposure outstanding in Q4 were obligations from various Puerto Rico municipalities. As of December 31, 2025, our direct exposure outstanding to P.R. municipalities amounted to $342 million, flat when compared to the prior quar
Slide 36: Popular’s Credit Ratings
Popular’s Credit Ratings Senior Unsecured Senior Ratings Unsecured Ratings Fitch BBB- Stable Outlook S&P BB+ Positive Outlook Moody’s Ba1 Positive Outlook 2019 2020 2021 2022 2025 2026 April April Moody’s June Moody's upgrades to Fitch upgrades upgrades to B1 May March Ba3 from B1 to BBB- from April
Slide 37: Non-GAAP Reconciliation
Non-GAAP Reconciliation The following table presents the reconciliation of the net income to the Adjusted net income (Non-GAAP) for the quarter ended December 31, 2025, and for the years ended December 2025 and December 31, 2024. There were no adjustments to net income for the quarter ended Septembe
Slide 38: Investor Presentation Fourth Quarter 2025
Investor Presentation Fourth Quarter 2025