Orrstown Financial Services, Inc. · NASDAQ:ORRF
Orrstown Financial Services — Shareholder Meeting (May 2026)
30 slides from Orrstown Financial Services's shareholder meeting presentation, May 5, 2026
Slide 1: Annual Shareholders Meeting
ORRSTOWN Financial Services, Inc. Annual Shareholders Meeting May 5, 2026
Slide 2: Conduct Meeting Business
Conduct Meeting Business Joel R. Zullinger Chairman of the Board ORRSTOWN FINANCIAL SERVICES, INC. 2
Slide 3: Cautionary Note Regarding Forward Looking Statements | Non-GAAP Disclosures
Cautionary Note Regarding Forward Looking Statements | Non-GAAP Disclosures This presentation contains “forward-looking statements’ within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements reflect the current views of the Company's manag
Slide 4: Rules of Conduct
Rules of Conduct In the interest of an orderly Meeting of the Shareholders of Orrstown Financial Services, Inc., we ask you to honor the following rules of procedure: v Shareholders who are attending via webcast can submit questions during the meeting and those questions will be addressed prior to a
Slide 5: Board of Directors
Board of Directors Joel R. Zullinger Thomas R. Quinn, Jr. aaeaa Scott V. Fai John W. Giambalvo, Esq. Cindy J. Joi Mark K. Keller
Slide 6: Conduct Meeting Business
Conduct Meeting Business Joel R. Zullinger Chairman of the Board ORRSTOWN FINANCIAL SERVICES, INC. 6
Slide 7: Management Report
Management Report Thomas R. Quinn, Jr. President & CEO ORRSTOWN FINANCIAL SERVICES, INC. 7
Slide 8: Right People, Poised for Success
Name Right People, mibHed for Success Title i nce Joined ORRF Significant Experience Thomas R. Quinn, Jr. President & CEO 35 years 2009 Adam L. Metz SEVP/Chief Operating Officer 31 years 2016 Neelesh Kalani EvP/Chief Financial Officer 21 years 2020 Matthew D. Alpert EVP/Chief Wealth Officer 35 years
Slide 9: Corporate Overview
Corporate Overview Financial Highlights + S5.5B S4.0B S4.5B 4.04% Assets Loans Deposits NIM ° 1.53% 15.13% 58.2% 20.8% aren ROAA ROAE Efficiency Fee Income / is Ratio Op. Revenue now) (2) Franchise Overview Founded in 1919 Established track record of profitable growth 43 full and limited-service bra
Slide 10: Geographically Diverse Markets
Central Region Franklin & Cumberland Defend Market Share Harrisburg & West Shore Growth Market Eastern Region Lancaster / Berks Growth Market York/Adams Region York County ‘Adams County Growth Market Greater Baltimore Growth Market raphically Diverse Markets Geographic Focus Driven by Relationship B
Slide 11: Track Record of Profitable Growth
Track Record of Profitable $54B “ 2019 2020 2021 2022 2023 2024 2025 HE 1221 Assets 2018 2019 2024 Sterlite ated Acquired Hamilton Merged with Codorus Community Bank of Bancorp Valley Bancorp, Inc. Mercersburg ss 2%S Hamilton SS as Bancorp, Inc. CODORUS SS uAUNT VALLEY Fins ercemc Assets: $525MM BAN
Slide 12: 2025 Year in Review
2025 Year in Review “» 7* consecutive year of record core earnings “+ Reported the highest annual net income in the Company’s history v Net Income, adjusted for merger-related charges was $82.9 million? Diluted EPS, as adjusted, of $4.281 Achieved an adjusted ROAA and ROAE of 1.53%1 and 15.13%? resp
Slide 13: Dividend Trend
Dividend Trend Dividend By Quarter Dividend By Year $0.30 $032 $030 ‘ 329% om INCREASE $020 $1.06 9 — CAGR $0740.76 0S $016 $010 $0.68 $0.60 $0.51 ead $0.42 $0.35 $0.22 $0.08 1.2.34 5 6 7 8 9 10111213.1445 16 1718 19 2021 22 2326 2526 27 26 29 30 31 32 33 3435 36 414243 os sox 008 2° $0.07 2015 2016
Slide 14: Financial Report
Financial Report Neil Kalani Chief Financial Officer ORRSTOWN FINANCIAL SERVICES, INC.
Slide 15: 2025 Financial Highlights
2025 Financial Highlights > Adjusted Net Income $82.9’ million / Diluted EPS of $4.28" « Achieved the highest reported annual net income in the Company’s history * Inclusive of merger related expenses, Net Income was $80.9 million or $4.18 diluted EPS > Net Interest Income Increased by $44.5 million
Slide 16: 2025 Financial Highlights
2025 Financial Highlights > Loans — Grew by $90 million or 2.3% * Commercial loan growth - $31 million or 1.0% * Consumer loan growth - $59 million or 7.5% * Commercial production was moderate in the first half of 2025, as we focused on reinforcing the risk profile of the portfolio * Production incr
Slide 17: Enhanced Profitability Levels
Enhanced Profitability Levels Earnings Growth * Return on Average Assets & Equity ? $4.28 14.25% 15.06% 14.29% 15.13% 12.54% $3.76 2 $3.51 $3.25 a ss es ° 1.53% $2.96 1.30% 1.14% 1.22% 1.22% 2021 2022 2023 2024 2025 ——ROAE —e-ROAA Net Interest Income and Net Interest Margin — 3.81% 3.80% 3.92% 40m 3
Slide 18: Loans
oan Loans ($ in millions)? 4Q25 Loan Composition + $2,298 ™@ Commercial Loans 19% Total Gross Loans CAGR ancial data as of December 31, 2025, (on Loans represents three months ending PPP Loans December 31, 2025. $3,931 $4,021 4, 2025 Consumer Loans 23% Commercial Loans CAGR Non-owner occupied CRE 31
Slide 19: Low-Cost Core Deposits
ow Core Deposits Deposits ($ in millions)? 4Q25 Deposit Composition + $4,623 $4,529 $2,465 $2,476 $2,559 $3,627 $2,163 $2,152 2021 2022 2023 2024 2025 mCore Deposits m Time Deposits 16% 14% Total Deposit Total Core CAGR Deposit CAGR 41 Financial data as of December 31, 2025, 2~Cost of Deposits repre
Slide 20: Focus on value added fee income
Focus on value added fee income: Nonenverest Income (> inmillions) vY Wealth Management & Advisory Services $52.3 = $3.1 billion in AUM (12/31/25) S874 $28.2 $27.0 $25.7 Mortgage Banking Income a im im Swap Fees 2021 2022 2023 2028 2025 Treasury Management Services 2025 Non-Interest Income Breakout
Slide 21: Operational Efficiency
Operational Efficien ici iol * Efficiency ratio declined from 63.8% for the year Efficiency Ratio; ended December 31, 2021 to 58.2% for the year cass ° 9, 63.4% ended December 31, 2025 — 829% 62.5% * Average branch size - $105 million at December 31, 2025 8.2% * We remain focused on implementing pro
Slide 22: Summary Financial Overview
Summary Financial Overview a eles ne 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 Jassets $2,835, $2,022 $3,064 $5,402 $5,582 2% 10% {total Gross toans 1,989 2,162 2,308 3,938 4,027 2% 15% Bt Loans 79 686 71 1,240 1,281 3% 12% CRE Loans 857 1,035 1,080 1,908 3,892 4% 1% Total Commercial Lo
Slide 23: Areas of Focus in 2026
Areas of Focus in 2026 Adam L. Metz Chief Operating Officer ORRSTOWN FINANCIAL SERVICES, INC.
Slide 24: 2026 Strategic Focus
2026 Strategic Focus Disciplined Capital Allocation and Balance Sheet Optimization Risk Management and Organizational Resilience Sustainable Growth in Core Banking Operational Excellence Technology, Data and Innovation Strategic Positioning and Franchise Expansion
Slide 25: Conduct Meeting Business
Conduct Meeting Business Joel R. Zullinger Chairman of the Board ORRSTOWN FINANCIAL SERVICES, INC.
Slide 26: Thank You for Being a Loyal Shareholder
2026 Annual Shareholder Meeting Thank You for Being a Loyal Shareholder ORRSTOWN FINANCIAL SERVICES, INC.
Slide 27: Reconciliation of Non-GAAP Measures to GAAP Results
Appendix Reconciliation of Non-GAAP Measures to GAAP Results As a result of acquisitions, the Company has intangible assets consisting of goodwill and core deposit and other intangible assets. Management believes providing certain “non-GAAP” financial information will assist investors in their under
Slide 28: Non-GAAP Financial Measure Reconciliation
Non-GAAP Financial Measure Reconciliation Net Income / Diluted EPS / Ratios 2021 2022 2023 2024 2025 (Presented In Millions except for Diluted EPS) Average Assets S 28948 S 2898 $ 29995 § 43215 S$ 5.4317 ‘Average Equity 262.2 244.3 243.3 392.3 547.7 Net Income (GAAP) $ 329 $ 20 $ 351 $ RA $ 80.9 Add
Slide 29: Non-GAAP Financial Measure Reconciliation
Non-GAAP Financial Measure Reconciliation ncy Ratio (Non-GAAP) 2021 2022 2023 2024 2025 (Presented In Millions) Net Interest Income s 87.0 S 99.6 S$ 104.9 § 155.3 $ 199.8 Plus Non-Interest Income 29.2 27.0 25.7 37.5 523 Total Revenue (A) $ 116.1_$ 126.6_S 730.6_S 1927S 252.1 Non-interest Expense s 4
Slide 30: Non-GAAP Financial Measure Reconciliation
Non-GAAP Financial Measure Reconciliation Tangible Book Value (Non-GAAP) (Presented in Millions except for Tangible Book Value Per Share) Total Shareholders’ Equity (GAAP) s 27 $ 2289 S$ 265.1 S 5167 S 591.5 Less Goodwill (18.7) (18.7) (18.7) (68.1) (69.8) Less Intangible Assets (42) G1) (24) 478) (
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