Slide 1: Q3 2025 Earnings Investor Presentation
Q3 2025 EARNINGS INVESTOR PRESENTATION October 28, 2025
Slide 2: Forward-Looking Statements
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 2 Forward-Looking Statements This presentation may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to First Busey Corporation’s (“Busey’s”) financia
Slide 3: Table of Contents
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 3 Table of Contents Overview of First Busey Corporation (BUSE) 4 3Q25 Review 5 Investment Highlights 6 Earnings Performance 7 Attractive Markets Positioned for Growth 8 Strategically Configured Regional Operating Model 9 High
Slide 4: Overview of First Busey Corporation
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 4 Overview of First Busey Corporation (NASDAQ: BUSE) Powerful Combination of Banking, Wealth, $18.2 Billion and Payments Business Lines Total Assets ▪ Premier Commercial Banking Franchise with attractive market footprint ▪ Fu
Slide 5: 3Q25 Review
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 5 3Q25 Review Optimizing Profitability Financial Results (Non-GAAP) ▪ Profitability accelerated to a 1.33% adj. ROAA1 and 54.8% adj. efficiency ratio1 as synergies continue to be realized from transformational acquisition com
Slide 6: Investment Highlights
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 6 Investment Highlights Financial Highlights Balance Sheet Strength 3Q25 KRX Median FY 2024 Metrics better than MRQ 4 ▪ High quality, commercially-oriented loan portfolio is well-diversified by sector and geographic KRX media
Slide 7: Earnings Performance
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 7 Earnings Performance Adjusted Net Income & Earnings Per Common Share 1 Adjusted ROATCE & Adjusted ROAA 1 $ in millions Adj. Net Income Avail. to Common S/H Adj. EPS Adj. ROATCE Adj. ROAA $57.2 $57.4 13.2% 13.6% 13.2% $0.63
Slide 8: Attractive Markets Positioned for Growth
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 8 Attractive Markets Positioned for Growth 1 1 Market Nominal GDP as of 2023 per FRED, Federal Reserve Bank of St. Louis | Source: S&P Capital IQ Pro; Census.gov; BEA.gov | Note: Chart does not include markets with population
Slide 9: Strategically Configured Regional Operating Model
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 9 Strategically Configured Regional Operating Model Enterprise-wide sales structure is organized by region – bringing full Focused on bringing the full breadth of commercial, wealth, and payments capabilities and the complete
Slide 10: High Quality Loan Portfolio
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 10 High Quality Loan Portfolio Loan Portfolio Composition Loan Yield Recent launch of loan pricing software has further driven focus on pricing discipline Commercially-oriented portfolio is HELOC 2% well-diversified by sector
Slide 11: Well-Diversified & Conservatively Underwritten Portfolio
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 11 Well-Diversified & Conservatively Underwritten Portfolio $ in millions % of 9/30/25 $ in millions % of 9/30/25 $ in millions % of 9/30/25 9/30/25 Total Classified 9/30/25 Total Classified 9/30/25 Total Classified Property
Slide 12: Pristine Credit Quality
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 12 Pristine Credit Quality NPAs / Assets ▪ Conservative underwriting structures have resulted in a legacy of $ in millions pristine credit quality Busey KRX Median ▪ Strong portfolio management that identifies early warning i
Slide 13: Top Tier Core Deposit Franchise
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 13 Top Tier Core Deposit Franchise Deposit Portfolio Composition Total Deposits & Loan-to-Deposit Ratio $ in millions Loan to Deposit Ratio Retail Commercial Public Other ² Avg Deposits LDR Int DDA 90.2% $16,459 $15,802 $15,0
Slide 14: Deposit Cost Trends
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 14 Deposit Cost Trends Total Cost of Deposits vs. Peers ▪ Post-acquisition of CrossFirst, implemented balance sheet optimization strategy with reduction of wholesale Busey KRX Median and other high-cost non-relationship fundi
Slide 15: Net Interest Margin
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 15 Net Interest Margin Net Interest Income Trend 1 $ in millions Net Interest Margin Trend 1 Net Interest Income ¹ Purchase Accounting Accretion Earning Assets Cost of Funds NIM $154.0 $155.9 5.63% 5.63% $7.1 $5.9 5.08% 4.91%
Slide 16: Diversified and Significant Sources of Noninterest Income
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 16 Diversified and Significant Sources of Noninterest Income Adjusted Noninterest Income / Operating Revenue 3 $ in millions Adj. Nonint. Inc. Net Interest Income Adj. Nonint. Inc./Op. Rev. 21.1% Adjusted Noninterest Income /
Slide 17: Wealth Management
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 17 Wealth Management $15.0 Billion Assets Under Care $68.9 Million LTM Revenue 1 Assets Under Care Wealth Revenue and Pre-Tax Income1 ▪ Assets Under Care (AUC) up $0.9 billion QoQ and up $1.3 billion YoY, ▪ 3Q25 Wealth segmen
Slide 18: Expansive Payments and Cash Management Capabilities
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 18 Expansive Payments and Cash Management Capabilities 46 Million Transactions Processed LTM $21.7 Million LTM Revenue 1 Go-to-market strategy focused on key competencies of integrated receivables, merchant processing, and on
Slide 19: Focused Control on Expenses
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 19 Focused Control on Expenses Noninterest Expense ▪ Efficiency gains accelerate as synergies continue to be realized from transformational acquisition completed on 3/1/25 and bank merger on $ in millions 6/20/25 Expenses ex-
Slide 20: Actively Managing Well-Positioned Balance Sheet
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 20 Actively Managing Well-Positioned Balance Sheet Rate Structures of Loan Portfolio in 3Q25 Net Interest Income Rate Sensitivity Recent launch of loan pricing software has further driven focus on pricing Balance sheet well-p
Slide 21: Robust Capital Foundation
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 21 Robust Capital Foundation Tangible Common Equity 1 $ in millions Common Equity Tier 1 2 $ in millions TCE TCE Ratio Common Equity Tier 1 CET1 Ratio Min + Buffer Ratio $1,709 $1,748 $1,872 $1,888 $1,908 $1,676 13.8% 14.1% 1
Slide 22: Appendix
Appendix Busey , FIRST BUSEY CORPORATION
Slide 23: Seasoned Leadership Team
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 23 Seasoned Leadership Team Van A. Dukeman Mike J. Maddox Chairman & CEO, First Busey Corp. Vice Chairman & President, First Busey Corp. Chairman, Busey Bank President & CEO, Busey Bank Has served as Chairman & CEO of First B
Slide 24: Purchase Accounting Projections
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 24 Purchase Accounting Projections Estimated accretion schedule of loan discounts based on anticipated contractual cash flows In addition to CrossFirst Bankshares acquisition completed 3/1/25, these projections include remain
Slide 25: Non-GAAP Financial Information
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 25 Non-GAAP Financial Information This presentation contains certain financial information determined by methods other than U.S. Generally Accepted Accounting Principles (“GAAP”). Management uses these non- GAAP measures, tog
Slide 26: Non-GAAP Financial Information (Unaudited)
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 26 Non-GAAP Financial Information (Unaudited) Pre-Provision Net Revenue and Related Measures Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, (dollars in thousands) 2025 20
Slide 27: Non-GAAP Financial Information (Unaudited)
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 27 Non-GAAP Financial Information (Unaudited) Adjusted Net Income, Average Tangible Common Equity, and Related Ratios Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30, (doll
Slide 28: Non-GAAP Financial Information (Unaudited)
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 28 Non-GAAP Financial Information (Unaudited) Tax-Equivalent Net Interest Income, Adjusted Net Interest Income, Net Interest Margin, and Adjusted Net Interest Margin Three Months Ended Nine Months Ended September 30, June 30,
Slide 29: Non-GAAP Financial Information (Unaudited)
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 29 Non-GAAP Financial Information (Unaudited) Adjusted Noninterest Income, Revenue Measures, Adjusted Noninterest Expense, and Efficiency Ratios Three Months Ended Nine Months Ended September 30, June 30, September 30, Septem
Slide 30: Non-GAAP Financial Information (Unaudited)
3Q25 Earnings Investor Presentation First Busey Corporation | Ticker: BUSE 30 Non-GAAP Financial Information (Unaudited) Tangible Assets, Tangible Common Equity, and Related Measures and Ratio As of September 30, June 30, September 30, (dollars in thousands, except per share amounts) 2025 2025 2024