Atlantic Union Bankshares Corporation · NYSE:AUB
Atlantic Union Bankshares — Shareholder Meeting (May 2026)
30 slides from Atlantic Union Bankshares's shareholder meeting presentation, May 5, 2026
Slide 1: Annual Shareholders' Meeting
Annual Shareholders’ Meeting May 5, 2026
Slide 2: Forward-Looking Statements
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 a
Slide 3: Additional Information
ADDITIONAL INFORMATION Non-GAAP Financial Measures No Offer or Solicitation This presentation contains certain financial information determined by methods other than This presentation does not constitute an offer to sell or a solicitation of an offer to buy any in accordance with generally accepted
Slide 4: Our Company
OUR COMPANY Soundness | Profitability | Growth M a ry l a n d BALTIMORE WASHINGTON Largest Regional Bank Headquartered in the Lower Mid-Atlantic FREDERICKSBURG STAUNTON V i rg i n i a HIGHLIGHTS 1 CHARLOTTESVILLE $37.3 Billion $27.9 Billion $30.4 Billion ROANOKE RICHMOND NORFOLK Assets Loans Deposit
Slide 5: Our Core Values Continue to Make us Successful
Our Core Values Continue to Make us Successful CARING COURAGEOUS COMMITTED Working together toward Speaking openly, honestly, Driven to help our clients, common goals, acting with and accepting our challenges Teammates, and company kindness, respect, and a genuine and mistakes as opportunities to su
Slide 6: Harnessing Organic Power
Harnessing Organic Power With the franchise now established, our focus is on maximizing its potential: We Believe AUB Was Built For This Moment Organic growth Capital generation Disciplined execution We have invested the capital, built the platform, and Deepening relationships, Shifting from capital
Slide 7: AUB Franchise Perspectives
AUB Franchise Perspectives
Slide 8: AUB Total Shareholder Return Relative to KRX Index
AUB TOTAL SHAREHOLDER RETURN RELATIVE TO KRX INDEX Since May 6, 2025 Source: Capital IQ for the period between May 6, 2025 and May 1, 2026 8
Slide 9: Our Markets
Our Markets 2025 GDP 2026 POPULATION ($ BILLIONS) (MILLIONS) GDP GDP Pop. Pop. # State ($Billions) # State ($Billions) # State (Millions) # State (Millions) 1 California 4,251 9 Washington 895 1 California 39.4 9 North Carolina 11.2 2 Texas 2,904 10 North Carolina 894 2 Texas 32.0 10 Michigan 10.2 3
Slide 10: Market Opportunity in Virginia, Maryland, and North Carolina
Market Opportunity in Virginia, Maryland, and North Carolina Growth opportunity in all three states Franchise Growth Strength Opportunity VIRGINIA Rank Institution Deposits ($mm) Market Share (%) Branches VIRGINIA Rank Institution Deposits ($mm) Market Share (%) Branches ALL BANKS 1 Truist Financial
Slide 11: Financial Results
Financial Results
Slide 12: 2025 Financial Performance At-A-Glance
2025 FINANCIAL PERFORMANCE AT-A-GLANCE SUM M ARIZE D INCOM E STATE M E NT For the years ended December 31 2025 2024 $ Change % Change Net interest income $1,154,913 $698,539 $456,374 65.3% - Provision for credit losses 141,788 50,089 91,699 183.1% + Noninterest income 219,436 118,878 100,558 84.6% -
Slide 13: Q1 2026 Financial Performance At-A-Glance
Q1 2026 FINANCIAL PERFORMANCE AT-A-GLANCE SUMMARIZED INCOME STATEMENT 1Q2026 4Q2025 $ Change % Change Net interest income $312,373 $330,168 ($17,795) (5.4%) - Provision for credit losses 2,737 2,211 526 23.8% + Noninterest income 54,783 57,000 (2,217) (3.9%) - Noninterest expense 209,810 243,243 (33
Slide 14: Strong Track Record of Performance (GAAP)
STRONG TRACK RECORD OF PERFORMANCE (GAAP) EARNINGS PER SHARE, DILUTED AVAILABLE TO COMMON SHAREHOLDERS ($) RETURN ON EQUITY (ROE) (%) $3.26 $2.97 $2.53 $2.24 9.68% 9.51% $1.93 $2.03 8.27% 7.04% 6.14% 6.16% 2020 2021 2022 2023 2024 2025 2020 2021 2022 2023 2024 2025 RETURN ON ASSETS (ROA) (%) EFFICIE
Slide 15: Strong Track Record of Performance (Non-GAAP)
Strong Track Record of Performance (Non-GAAP) ADJUSTED OPERATING RETURN ADJUSTED OPERATING RETURN ON ASSETS ADJUSTED OPERATING EFFICIENCY RATIO ON TANGIBLE COMMON EQUITY (ROTCE %)1 (ROA %)1 (FTE %)1 1.33% 1.41% 54.7% 54.2% 20.4% 19.6% 1.16% 1.14% 1.11% 17.2% 53.3% 17.1% 16.9% 49.7% 49.9% 2022 2023 2
Slide 16: Strong Capital Position
STRONG CAPITAL POSITION CAPITAL MANAGEMENT STRATEGY At March 31, 2026 PRO FORMA INCLUDING AOCI ATLANTIC UNION CAPITAL MANAGEMENT REPORTED OBJECTIVES ARE TO: & HTM UNREALIZED LOSSES • Maintain designation as a “well capitalized” REGULATORY WELL ATLANTIC institution. CAPITALIZED ATLANTIC UNION ATLANTI
Slide 17: Capital Management Priorities
Capital Management Priorities CAPITAL PRIORITIES CONSOLIDATED COMMON EQUITY TIER 1 CAPITAL RATIO Target Range 9.5%-10.5% (We consider CET1 ratio > 10.5% at the holding company to be excess capital) COMMON DIVIDEND 10.3% SUPPORT ORGANIC COMMON SHARE 10.2% 10.2% 10.2% PAYOUT RATIO TARGET 10.1% GROWTH
Slide 18: Medium-Term Financial Targets
Medium-Term Financial 19% – 20% 1.4% – 1.5% 46% – 48% Targets1 Return on Tangible Common Equity Return on Assets Efficiency Ratio (FTE) KEY FINANCIAL PERFORMANCE OPERATING METRICS BENCHMARKED AGAINST TOP QUARTILE PROXY PEERS Atlantic Union is committed to achieving top tier financial performance and
Slide 19: 2026 Financial Outlook
2026 Financial Outlook FULL YEAR 2026 OUTLOOK 1 KEY ASSUMPTIONS1 Loans (end of period) $29.0 – 30.0 billion • The Federal Reserve Bank does not cut Deposits (end of period) $31.0 – 32.0 billion the fed funds rate in 2026 and term rates remain stable ACL to loans: ~115 – 120 bps Credit Outlook • Assu
Slide 20: Our Shareholder Value Proposition
OUR SHAREHOLDER LEADING REGIONAL PRESENCE Dense, uniquely valuable presence across attractive markets VALUE PROPOSITION ATTRACTIVE FINANCIAL PROFILE FINANCIAL STRENGTH Solid balance sheet & Solid dividend yield capital levels & payout ratio with earnings upside PEER-LEADING STRONG GROWTH PERFORMANCE
Slide 21: Appendix
APPENDIX 2026 Annual Meeting
Slide 22: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES We have provided supplemental performance measures determined by methods other than in accordance with GAAP. These non-GAAP financial measures are a supplement to GAAP, which we use to prepare our financial statements, and should not be considered in isolation
Slide 23: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES Adjusted operating measures exclude, as ADJUSTED OPERATING EARNINGS & FINANCIAL METRICS applicable, merger-related costs, FDIC For the three months ended For the years ended (Dollars in thousands, except outstanding share and per share special assessments, lega
Slide 24: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED OPERATING EFFICIENCY RATIO The Company believes net interest income (FTE), total revenue (FTE), and total adjusted revenue For the three months ended For the years ended (FTE), which are used in computing net interest margin (FTE), efficiency ratio (FT
Slide 25: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES Tangible assets and tangible common equity are used ADJUSTED OPERATING MEASURES & FINANCIAL METRICS in the calculation of certain profitability, capital, and per share ratios. The Company believes tangible For the three months ended For the years ended assets,
Slide 26: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO Tangible assets and tangible common equity are (Dollars in thousands, except per share amounts) used in the calculation of certain profitability, As of March 31, 2026 As of December 31, 2025 capital, a
Slide 27: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES TANGIBLE ASSETS, TANGIBLE COMMON EQUITY, AND LEVERAGE RATIO Tangible assets and tangible common equity are (Dollars in thousands, except per share amounts) used in the calculation of certain profitability, As of March 31, 2026 capital, and per share ratios. The
Slide 28: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES RISK-BASED CAPITAL RATIOS All regulatory capital ratios at March 31, 2026 are (Dollars in thousands) estimates and subject to change pending the As of March 31, 2026 Company’s filing of its FR Y-9C. In addition to these regulatory capital ratios, the Company At
Slide 29: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES NET INTEREST MARGIN AND CORE NET INTEREST MARGIN The Company believes net interest (Dollars in thousands) income (FTE), total revenue (FTE), For the three months ended For the years ended which are used in computing net interest margin (FTE), core net March 31,
Slide 30: Reconciliation of Non-GAAP Disclosures
RECONCILIATION OF NON-GAAP DISCLOSURES ADJUSTED OPERATING PRE-TAX PRE-PROVISION EARNINGS (FTE) Adjusted operating pre-tax pre-provision (Dollars in thousands) earnings (FTE) excludes, as applicable, the provision for credit losses, which can fluctuate For the three months ended For the years ended s
Atlantic Union Bankshares — Shareholder Meeting (May 2026) on 6ix