Timberland Bancorp, Inc. · NASDAQ:TSBK
Timberland Bancorp — Investor Presentation (July 2026)
32 slides from Timberland Bancorp's investor presentation, Jul 29, 2026
Slide 1: Timberland Bancorp
LAN Timberland \S Banco: IWS = rp Timberland Bancorp NASDAQ: TSBK June 30, 2026
Slide 2: Disclaimer
DISCLAIMER miedo Statements contained in this presentation which are not historical facts are forward-looking statements as that item is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual re
Slide 3: Timberland Branch Locations
TIMBERLAND BRANCH LOCATIONS Timbertind Timberland Branch Locations NASDAQ: TSBK 3
Slide 4: Financial Highlights
tN aS Timberland XS Bancorp FINANCIAL HIGHLIGHTS NASDAQ: TSBK 4
Slide 5: Net Income
NET INCOME S in millions $35.00 $30.00 $29.16 $27.58 $27.12 $25.00 $23.60 $24.28 $23.07 $20.00 $15.00 $10.00 $5.00 $0.00 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTD FY 2026 NASDAQ: TSBK
Slide 6: Quarterly Net Income
QUARTERLY NET INCOME $ in millions miedo WS Bencorp “e $8.45 $8.22 $8.00 $7.2 $7.00 $6.86 66.76 $7.10 $7.13 $6.36 $6.00 $5.00 $4.00 $3.00 $2.00 $1.00 $0.00 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Slide 7: Earnings Per Diluted Share
EARNINGS PER DILUTED SHARE miedo RS Bancorn $4.00 $3.67 820 sor $3.29 $3.00 $3.01 $2.92 . $2.82 $2.50 $2.00 $1.50 $1.00 $0.50 $0.00 FY 2021 FY 2022 FY 2023 FY 2024 FY2025 YTD FY 2026 m1Q =2Q ™3Q m4Q NASDAQ: TSBK
Slide 8: Return on Assets and Return on Equity
RETURN ON ASSETS AND RETURN ON EQUITY miLena (Bancorp ROA ROE 1.80% 16.00% — 13.98% 1.60% 150% “150% —1:52% 14.00% 12.01% 1.40% 127% ae 12.00% nee 11.56% 11.49% 1.20% 10.19% 10.00% 1.00% 8.00% 0.80% 6.00% 0.60% 4.00% 0.40% 020% 2.00% 0.00% 0.00% FY 2021. FY 2022 FY 2023 FY 2024 FY2025 YTDFY Fy 2021
Slide 9: Balance Sheet
BALANCE SHEET S in millions Total Assets $2,500 $2,013 $2,061 spe $1,792 $1,861 $1,840 $1,923 $1,500 $1,000 $500 $- 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 NASDAQ: TSBK
Slide 10: Total Capital
TOTAL CAPITAL S in thousands Ti and (SS Bancorp $300,000 $262,614 $273,206 $250,000 $245,413 $233,073 $218,569 $206,899 $200,000 $150,000 $100,000 $50,000 $o 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 NASDAQ: TSBK
Slide 11: Capital Strength
CAPITAL STRENGTH 24.00% 22.17% 22.00% 20.67% 20.87% 20.00% 19.45% 19.38% 19.39% 18.00% 16.00% 14.00% 12.10% 12.12% 25S 12 12.00% 10.97% 11.03% 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 m Total Risk Based m Tier 1 Leverage NASDAQ: TSBK
Slide 12: Book Value and Tangible Book Value Per Share
BOOK VALUE AND TANGIBLE BOOK VALUE PER SHARE tigen na $40.00 $35.00 $31.33 $30.00 $35.16 $33.29 $33.19 $30.83 $28.76 $28.87 $26.58 $26.81 $24.76 $24.63 $25.00 $22.80 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 $20.00 $15.00 $10.00 $5.00 $0.00 See Non-GAAP Disclosure Slide for Additio
Slide 13: Dividends Paid/Declared Per Common Share
DIVIDENDS PAID/DECLARED PER COMMON SHARE anna (Calendar Year) $1.20 $1.04 $1.08 $1.00 $0.98 5030 $0.97 . $0.88 $0.80 $0.60 $0.40 $0.20 $0.00 2021 2022 2023 2024 2025, 2026 YTD mRegular® Special NASDAQ: TSBK
Slide 14: Deposit Levels
DEPOSIT LEVELS S in millions NASDAQ: TSBK $2,000 $1,800 S717 $1,764 Sxe00 $1,571 $1,632 $1,561 $1,648 $1,400 $1,200 $1,000 $800 $600 $400 $200 S 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 HNon-Interest Bearing Demand NOW Checking li Money Market mi Savings ll Certificates of Deposit
Slide 15: Deposit Composition
DEPOSIT COMPOSITION Total Deposits $1.76 Billion at June 30, 2026 = CDs Brokered CDs >$250,000 = CDs <$250,000 ™ Money market Savings = NOW checking = Non-interest-bearing demand
Slide 16: Borrowings
BORROWINGS $n thousands miedo \SBancorp Total Borrowings $100,000 $90,000 $80,000 $70,000 $60,000 $50,000 pan 000 $35,000 $30,000 $20,000 $20,000 $20,000 $10,000 [| [| $10,000 2 $5,000 >; = 2 |_| 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 NASDAQ: TSBK
Slide 17: Net Loans
NET LOANS S in millions Net Loans $1,496 1400 $1,422 $1464 , $1,302 $1,200 $1,132 $1,000 $968 $800 $600 $400 $200 a 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 @ Net Loans NASDAQ: TSBK
Slide 18: Diversified Loan Portfolio
DIVERSIFIED LOAN PORTFOLIO miedo Net Loans $1.50 billion at June 30, 2026 = Land = Consumer = Multi-Family = Commercial business = 1-4 Family = Construction mw CRE
Slide 19: CRE Portfolio Breakdown by Collateral
CRE PORTFOLIO BREAKDOWN BY COLLATERAL nna at June 30, 2026 ($ in thousands) XK Bancorp Collateral Type ecimotal UeeTn Avg. Balance Per Loan Portfolio Industrial warehouse $146,809 9% $1,425 se Medical/dental offices $82,696 5% $1,216 224 Office buildings $74,252 5% $363 - Other retail buildings $55,
Slide 20: Construction Loans
CONSTRUCTION LOANS Tithberland Total Construction Loans $247 million at June 30, 2026 y <1% = Land Development ™ Spec. 1-4 Family = Commercial = Multi-Family = Custom Construction/Owner- Builder
Slide 21: Interest Earning Cash & Investments
INTEREST EARNING CASH & INVESTMENTS anna Interest Earning Cash & Investments: $435 million at June 30, 2026 = Other Securities & Mutual Funds = CDs Held for Investment = U.S. Government Securities = Mortgage Backed Securities = Overnight Funds
Slide 22: Asset Quality
ASSET QUALITY mikena Non-performing Assets/Total Assets 1.00% 0.80% 0.60% 0.43% 0.40% 0.23% 0.20% 0.18% 0.20% 0.12% | 0.09% o.oo a 9/30/2021 9/30/2022 9/30/2023 9/30/2024 9/30/2025 6/30/2026 NASDAQ: TSBK
Slide 23: Net Charge-Offs (Recoveries)
NET CHARGE-OFFS (RECOVERIES) S in thousands miedo $1,000 $900 $800 $700 $600 $500 $400 sh $240 $200 s100 536 554 sO — ($100) ($55) FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTDFY 2026
Slide 24: Net Interest Income and Net Interest Margin
NET INTEREST INCOME AND NET INTEREST MARGIN $ in thousands $80,000 4.50% 3.95% 3.84% $70,000 3.54% eked 00%. $60,000 325% 3.16 3.50% 3.00% $50,000 2.50% $40,000 2.00% $30,000 1.50% $20,000 1.00% $10,000 0.50% A) 0.00% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTD FY 2026 M@lNet Interest Income | —Net
Slide 25: Quarterly Net Interest Income and Net Interest Margin
QUARTERLY NET INTEREST INCOME AND NET INTEREST MARGIN $ in thousands NASDAQ: TSBK 2Q24 3024 4Q24 1025 2Q25 lm Net Interest Income 3Q25 4025 1026 —Net Interest Margin 2Q26 3Q2026 4.00% 3.80% 3.60% 3.40% 3.20%
Slide 26: Non-Interest Income
NON-INTEREST INCOME S in thousands miedo WSBagrore $20,000 $18,000 $17,161 $16,000 $14,000 $12,624 $12,352 $12,000 $11,140 $11,136 $10,000 $8,560 $8,000 $6,000 $4,000 $2,000 So FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTD FY 2026
Slide 27: Non-Interest Expense
NON-INTEREST EXPENSE S in thousands miedo $60,000 $50,000 $45,387 $43,373 $43,746 $40,000 $38,626 $34,591 $34,727 $30,000 $20,000 $10,000 $o FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTD FY 2026
Slide 28: Efficiency Ratio
EFFICIENCY RATIO nna NSBancorn 100.00% 90.00% 80.00% 70.00% 60.00% 56.42% 58.09% 54.56% 54.98% 53.79% 50.12% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 YTD FY 2026
Slide 29: New Timberland Bank Branch - University Place
New Timberland Bank Branch — University Place ANew Full-Service Branch was opened in January 2026: © The Branch is located in University Place, WA Located on a high visibility street with access to many nearby businesses and residential neighborhoods Between our existing Tacoma, WA and Gig Harbor, W
Slide 30: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES nena * The Company reports its results in accordance with United States generally accepted account principles (“GAAP”). Timberland believes that certain non-GAAP measures provide investors with information useful in understanding the Company’s financial performance; howev
Slide 31: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES ~— Shareholders’ equity 206,899 218,569 233,073 245,413 262,614 273,206 Less goodwill and CDI (16,395) (16,079) (15,808) (15,582) (15,402) (15,300) Tangible common equity 190.504 202.490 217.265 229.831 247.212 257,906 Total assets $ 1,792,180 $ 1860508 $§ 1,839,905 $ 192
Slide 32: Timberland Bancorp
Timberland Bancorp NASDAQ: TSBK * Strong Core Earnings * Well Capitalized * Geographically Diversified * Diversified Loan Portfolio * Strong Core Deposit Levels * Actively Supporting Its Communities
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