Earnings Presentation Q2 2026

Second Quarter Earnings Presentation

July 24, 2026

Opening Remarks

We are executing our Strategic Plan with conviction and momentum, stabilizing the business, optimizing our credit portfolio, and growing sustainably to deliver lasting shareholder value

Completed credit policy reviews and enhanced portfolio management practices

Further optimized the loan portfolio by exiting select exposures, out-of-footprint, and criticized loans

Additional cost saving initiatives implemented, expected to materialize in 3Q and 4Q and support continued improvement in the efficiency ratio

Improved coordination across client-facing teams, and focused on transactional and client profitability to grow revenue over time

Focused on loan growth to improve balance sheet positioning and revenue generation capabilities

Continued leveraging Amerant's unique position to grow international deposits

Key Financial Metrics (2Q26 vs 1Q26) Key Financial Metrics (2Q26 vs 1Q26)

(1) Non-GAAP measure, see "Non-GAAP Financial Measures" for more information and Appendix 1 for a reconciliation to GAAP measures.

Key Financial Metrics (2Q26 vs 1Q26)

(1) Non-GAAP Financial Measures. See Appendix 1 for a reconciliation to GAAP.

(2) TCE Ratio: 2Q26 includes $23.7 million accumulated unrealized losses net of taxes, compared to $21.3 million in 1Q26

Well Diversified Deposit & Loan Mix

($ in millions) ($ in millions)

$8,307

$1,706

$8,301

$1,769

$7,787

$1,573

$7,939

$1,467

$8,355

$1,708

$644

$1,528

$550

$1,548

$436

$1,560

$548

$1,499

$498

$1,413

$4,736

$4,429

$4,434

$4,218

$4,425

2.53%

2.41%

2.34%

2.31%

2.21%

$7,189

$248 $6,942

$243

$6,697

$245

$6,753

$225

$6,866

$210

$1,546

$1,551

$1,518

$1,681

$1,954

$983

$901

$825

$803

$745

$1,723

$1,685

$2,688

$2,563

$1,595

$2,514

$1,598

$1,574

$2,446

$2,383

6.88%

6.93%

6.73%

6.38%

6.22%

2Q25 3Q25 4Q25 1Q26 2Q26

2Q25 3Q25 4Q25 1Q26 2Q26

Transaction Deposits

Customer CDs Cost of Total Deposits

Owner Occupied

CRE

Single Family Residential

Brokered Deposits (1)

Noninterest Bearing Demand Deposits

Consumer

Commercial and FI & Acceptances

Average Loan Yield

(1) Brokered Deposits: 2Q25 includes $635 million in time deposits and $9 million in transaction deposits. All other periods primarily consisted of time deposits.

(2) 2Q26, 1Q26, and 4Q25 includes both mortgage loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value. There were no loans held for sale in 3Q25, while 2Q25 includes mortgage loans held for sale carried at fair value.

Net Interest Income and NIM NII and NIM (%)

($ in millions)

$90.5

$94.2

$90.2

$80.3

$82.6

3.81%

3.92%

3.78%

3.55%

3.52%

90

80

70

60

50

40

30

20

10

0

2Q25 3Q25 4Q25 1Q26 2Q26

Net Interest Income NIM

0.40

0.48

0.53

0.60

0.00

4Q25 1Q26 2Q26

Cumulative Beta

(1) Beta calculation does not include brokered deposits

Non-Performing Loans

Highlights

NPAs were $186.6 million, which includes $171.1 million in NPLs and $15.5 million in OREO. As of 2Q26, the NPLs had the following composition:

• $66.5 million had real estate collateral with a weighted avg. LTV of 63%

• $66.7 million were cashflow-dependent loans

• $12.4 million were secured with other non-real estate collateral types

• The remaining loans were collectively evaluated for reserves

Subsequent to quarter-end, a NY CRE loan totaling $8.9 million was paid off, further reducing NPLs to $162.2 million.

($ in millions)

$176.1

$171.1

$30.7

$(5.5) $(13.1) $(17.0) $(0.1)

1Q26 Downgrades to NPLs

Charge-offs Paydowns/Payoffs

and Others

Loans Sold Upgrades 2Q26

Classified Loans

Highlights

As of 2Q26 the Classified loans had the following composition:

• $152.0 million had real estate collateral with a weighted avg. LTV of 60%

• $85.2 million were cash flow-dependent loans

• $12.4 million were secured with other non-real estate collateral types

• The remaining loans were collectively evaluated for reserves

($ in millions)

$273.1

$22.1

$320.3

$(5.5) $(24.3) $(39.5)

1Q26 Downgrades Charge-offs Paydowns/Payoffs Loans Sold 2Q26

Special Mention Loans

Highlights

As of 2Q26 the Special Mention loans had the following composition:

• $108.1 million had real estate collateral with a weighted avg. LTV of 63%

• The remaining loans were smaller commercial loans

($ in millions)

$148.2

$109.8

$(1.6)

$(25.9) $(30.9)

1Q26 Downgrades to Special Mention

Downgrades to Classified

Paydown/ Payoffs

Loans Sold 2Q26

NCOs and Allowance for Credit Losses

($ in millions)

ACL Roll-forward Allowance for Credit Losses

$79.2

$85.5

Charge-offs

for Charge- Reserve and Growth offs Change Macroeconomic

Factor Updates

(1) Includes ACL on purchased seasoned loans ("PSLs"). See Glossary for more details on the Company's early adoption of ASU 2025-08.

(% are annualized)

NCO-to-Average Total Loans Ratio

Outlook

• Total Loans projected to reach approximately $7.3 billion by 4Q26

• Total deposits projected to reach approximately $9.1 billion by 4Q26, primarily driven by low-cost International deposit growth

• Net interest margin projected to be approximately 3.50% for the remainder of the year

• Projected expenses in 3Q26 to stay consistent with 2Q26, declining to $66 - $67 million in 4Q26, as we continue to make progress towards a target efficiency ratio of approximately 60%

• Will continue to optimize capital management, balancing between retaining capital for growth, and buybacks and dividends to enhance shareholder returns

Path to 1% ROA

0.84%

~ 0.18%

~ 0.08%

~ 0.03%

~ 1.00%

~ 0.07%

< 0.04%

2Q26 Net Interest Income

Operating Expense Reduction

Other Income Tax Expense Provision for

Credit Losses

4Q26

Closing Remarks

For the second half of the year, our priorities remain clear and firmly aligned with our strategic plan:

• Driving disciplined, sustainable loan growth that supports our financial objectives and reflects our risk appetite
• Continuing to advance credit quality by:

  • Embedding a stronger credit culture through disciplined underwriting, relationship-driven decision-making, and enhanced portfolio monitoring

  • Building a high-quality loan pipeline with clear accountability, consistent standards, and improved visibility into risk-adjusted returns

• Improving efficiency across the organization by executing cost-efficiency initiatives that are expected to deliver recurring cost reductions that strengthen operating leverage and scalability
• Strengthening our relationship-first model to deepen client engagement, increase collaboration across the business, and support lower-cost deposit growth in domestic and international markets, including Venezuela
• Maintaining strong capital levels while continuing to return capital to shareholders through dividends and share repurchases

Supplemental Information

Investment Portfolio

Balances and Yields (1)

Expected Prepayments & Maturities

($ in millions)

($ in millions)

2,000

$2.5

$120.2

4.88%

$2.5

4.76%

$2.5

4.84%

$266.1

$300.0

$1,789 $2,370 $2,549

0

2Q25 1Q26 2Q26

$60.6

4.82%

4.32%

$0.0

AFS Trading Marketable Equity Securities Yield 3Q26 4Q26 1Q27 2Q27

Expected Prepayments & Maturities (3) Maturing Yield %

Fixed vs. Floating (2)

6.9%

5.0 yrs Effective Duration

93.1%

March 2026

6.3%

4.7 yrs Effective Duration

93.7%

June 2026

Fixed rate

Floating rate

Available for Sale Securities by Type

June 30, 2026

As of June 30, 2026, 100.0% of the Available for Sale portfolio consists of MBS issued or guaranteed by Government agencies and Government sponsored enterprises.

(1) Excludes Federal Reserve Bank and FHLB stock

(2) Hybrid investments are classified based on current rate (fixed or floating)

(3) Based on estimated prepayment speeds

Loan Portfolio Geographic Mix Geographic Mix (1)

1.7%

1.8%

2.0%

3.0% 2.7% 2.8%

2.1%

5.4%

2.7%

2.1%

5.4%

2.6%

91.5%

91.5%

91.0%

89.8%

89.9%

4.2%

4.0%

3.8%

2Q25 3Q25 4Q25 1Q26 2Q26

South Florida New York Tampa Other(2)

(1) 2Q26, 1Q26 and 4Q25 includes both mortgage loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value. There were no loans held for sale in 3Q25, while 2Q25 includes mortgage loans held for sale at fair value. This geographic categorization is based on internal criteria.

(2) Consists of international loans; fully-collateralized securities-based lending and residential loans with U.S. collateral.

Loans Held for Investment Portfolio by Industry

June 30, 2026

Non-Real

($ in millions) Real Estate Estate

Total % Total Loans

Highlights

Financial Sector (1) $ 14 $ 275 $ 289 4.3 % Construction and Real Estate & Leasing:

Total construction and real estate & leasing 2,437 79 2,516 37.3 %

Other real estate related services and equipment leasing (2) 163 79 242 3.6 % Manufacturing:

Metals, Computer, Transportation and Other 12 84 96 1.4 %

Chemicals, Oil, Plastics, Cement and Wood/Paper

22

29

51

0.8 %

Total Manufacturing 91 160 251 3.7 %

Retail Trade (4) 178 155 333 5.0 %

Non-Financial Public Sector - 21 21 0.3 %

Accommodation, Restaurants, Entertainment and other services (6) 90 257 347 5.2 %

Electricity, Gas, Water, Supply and Sewage Services

3

87

90

1.3 %

Total Services 205 576 781 11.6 %

Agriculture, Livestock, Fishing and Forestry 1 1 2 - %

Mining

-

7

7

0.1 %

Total Primary Products 1 8 9 0.1 %

• Diversified portfolio - highest sector concentration, other than real estate, at 12% of total loans

• 74% of total loans secured by real estate

• Main concentrations:

  • Finance Sector

  • CRE or Commercial Real Estate

  • Wholesale - Food & Electronics and Computer parts wholesalers

  • Retail - Gas stations and Food retailers

  • Services - Healthcare and Restaurants

    Other Loans (7) 1,954 338 2,292 34.0 %

    Total Loans $ 4,960 $ 1,783 $ 6,743 100.0 %

    1. Consists primarily of finance facilities granted to non-bank financial companies 4.3% which is composed mainly of 2.2% corporate finance, 1.1% CRE note-on-note financing, 0.8% mortgage warehousing lines and 0.2% others

    2. Comprised mostly of construction and real estate related services and equipment rental and leasing activities.

    3. Food wholesalers represented approximately 33%.

    4. Gasoline stations represented approximately 36%.

       
       
       

       19

    5. Healthcare represented approximately 51%.

    6. Restaurants and food services represented 65%.

    7. Primarily loans belonging to industrial sectors not included in the above sectors, which do not individually represent more than 1 percent of the total loan portfolio, and residential and other consumer loans which represented approximately 24% of total loans.

    Total CRE Loans - Detail

    Outstanding as of June 30, 2026 ($ in millions)

    Loans Held for Investment

    (1)

    CRE Type FL TX NY Other Total % Total CRE % Total Loans

    Income Producing (2)

    Land and Construction

    Retail	$ 514	$ 10	$ 60	$ 26	$ 610	26.8 %	9.0 %	$ 610	$	-
    Multifamily	296	58	44	62	460	20.2 %	6.9 %	234		226
    Office	311	41	18	92	462	20.3 %	6.8 %	453		9
    Hotels	169	28	-	8	205	9.0 %	3.0 %	175		30
    Industrial	81	-	-	32	113	5.0 %	1.7 %	113		-
    Specialty	162	-	-	40	202	8.9 %	3.0 %	176		26
    Land	196	-	-	25	221	9.7 %	3.3 %	-		221
    Total CRE	$ 1,729	$ 137	$ 122	$ 285	$ 2,273	100.0 %	33.7 %	$ 1,761	$	512

    This geographic segmentation is based on collateral location.

    (1) Calculated as a percentage of loans held for investment only.

    (2) Income producing properties include non-owner occupied and multi-family residential loans.

    CRE Type		FL		TX		NY		Total
    Multifamily		$	-	$	-	$	23 $		23
    Retail			6		-		18		24
    Office			-		-		21		21
    Hotels			-		18		-		18
    Land			24		-		-		24
    Total		$	30	$	18	$	62 $		110

    Loans Held for Sale

    20
    
    CRE Retail - Detail

    As of June 30, 2026

    CRE Retail (1)

    CRE Retail - Single Tenant (1)

    Retail - LTV (2)

    Others; 1.0%

    Regional Center; 2.0%

    Retail Storefront; 2.0%

    Single Tenant; 5.0%

    Theme/Festival Center; 5.0%

    Neighborhood Center; 32.0%

    Auto; 26%

    Sporting & Recreational Goods; 49%

    60%

    32%

    22%

    26%

    20%

    -%

    50%

    40%

    30%

    20%

    Community Center; 19.0%

    Strip/Convenience; 34.0%

    Pharma; 12%

    Healthcare; 13%

    10%

    0%

    50%

    or less

    50-

    60%

    60-

    70%

    70-

    80%

    80%

    or more

    Total: $552 million

    Loan Portfolio Percentage: 8.2%

    Total: $25 million

    Loan Portfolio Percentage: 0.4%

    Weighted Average LTV: 59%

• Florida primarily includes neighborhood shopping centers or service centers with basic needs related anchor stores, as well as the retail corridor in Miami Beach

• New York primarily includes four loans in high traffic retail corridors with proximity to public transportation services

• Single-tenant consists of one loan in Michigan (Gym) and three smaller loans in South Florida

(1) CRE retail loans held for investment above $3.0 million

(2) LTV at origination

21

CRE Office - Detail

As of June 30, 2026

CRE Office (1) Office - LTV (2)

Texas; 14%

New York; 4%

Other; 16.0%

Florida; 66%

60%

50%

40%

30%

20%

10%

0%

49%

27%

16%

8%

-%

50% or less

51-60% 61-70% 71-80% 81% or

more

Total: $445 million

Loan Portfolio Percentage: 6.6%

Weighted Average LTV: 60%

CRE office above $3 million represents 22 loans totaling $445 million, or 96% of total CRE office with avg. debt-service coverage (DSCR)(3) 1.6x and LTV 64%

• Florida: 16 loans totaling $296 million (51% Miami-Dade, 34% Broward, 5% Palm Beach, 9% Duval, and 1% Hillsborough) with avg. DSCR 1.6x and LTV 62%

• New York: 1 loan totaling $18 million (Westchester) with avg. DSCR 1.5x and LTV 60%

• Texas: 3 loans totaling $61 million, 2 in Dallas and 1 in Houston, with avg. DSCR 1.3x and LTV 70%

• Other: 2 loans totaling $69 million, 1 in Memphis, TN and 1 in Atlanta, GA with avg. DSCR 1.1x and LTV 65%

(1) CRE offic◦e loans held for investment above $3 million

22

(2) LTV at origination

(3) DSCR based upon most recent borrower information

Domestic and International Deposit Details

$7,895

$2,465

$7,854

$2,576

$7,787

$2,619

$8,355

$3,222

$5,430

$5,278

$5,168

$5,133

($ in millions)

2023 2024 2025 2Q26

Domestic Deposits International Deposits

(1) Average deposit account balances calculated as of June 30, 2026

23

Interest Rate Sensitivity

As of June 30, 2026

400

($ in Millions)

(3.2)%

(1.7)%

(0.8)% 0%

1.2%

1.9%

2.3%

Expected pre-tax AOCL Improvement

(33,211)

approx. 49% improvement in AOCL

-

($ in Millions)

200

335 340 343 346 350 353 354

5.7%

3.9%

2.2%

0% (2.4)%

(4.9)%

(10.2)%

2,693 2,649 2,605 2,549 2,488

2,423

2,290

(20,000)

0

-200 bps -100 bps -50 bps BASE +50 bps +100

bps

+200

bps

-200

bps

-100

bps

-50

bps

MV +50

bps

+100

bps

+200

bps

(40,000)

Net Interest Income

Loan Portfolio Details

As of June 30, 2026

Change from base

AFS

Change from MV

2Q26 1Q27

(estimated)

By Rate Type By Repricing Term

By Interest Type

SOFR 44%

5-6.75%; 23%

By Floors

Fixed 41%

Adjustable 59%

5+ years; 33%

4-5 years; 2%

1-3 years; 2%

<1 year; 63%

Prime 13%

UST 2%

Fixed 41%

3.5-5%; 6%

2-3.5%; 11%

0.5-2%; 3%

No Floor; 57%

(1) NII and percentage change represent the base scenario of net interest income. The base scenario assumes (i) flat interest rates over the next 12 months, (ii) that total financial instrument balances are kept constant over time and (iii) that interest rate shocks are instant and parallel to the yield curve

(2) Totals may not sum due to rounding

24

Noninterest Income Mix

($ in millions)

$19.8

$22.0

$3.2

$17.3

$2.4

$1.4

$8.4

$6.7

$1.7

$17.4

$1.5

$5.0

$0.5

$18.2

$1.2

$5.6

$0.4

$5.6

$5.0

$5.0

$1.2

$5.0

$2.1

$5.3

$5.5

$5.0

$(1.9)

$5.1

$(1.4)

$4.9

$(0.1)

$4.9

$5.4

30 2Q25

2Q26

28%

$3.1B

72%

19%

81%

20

10

0

-10

International

Domestic

2Q25 3Q25 4Q25 1Q26 2Q26

Deposits and service fees Securities gains, net

Brokerage, advisory and fiduciary activities Other noninterest income (1)

Loan-related derivative income Derivative losses, net

(1) Other noninterest income in 4Q25 includes $3.3 million gain on the sale and leaseback of two banking centers.

25

Noninterest Expense Noninterest Expense Mix

($ in millions, except for FTEs)

$106.8

$83.4

$71.6

$74.4

$77.8

$68.0

66.9

68.9

$48.1

$38.3

$38.4

$42.7

$34.9

$33.5

$35.3

$33.3

726

$36.0

$35.1

$38.8

$32.0

$35.4

698

692

704

694

699

704

120

90

60

30

0

4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26

Salaries and employee benefits Other operating expenses FTEs

EPS Trend

Change in Diluted Earnings Per Common Share

$0.60

$0.50

$0.44

$0.53

$0.40

$0.30

$0.20

$0.10

$-

$0.01

$(0.10)

1Q26 PPNR (1)

Income Tax Expense Impact of Repurchases Provision for Credit

Losses

2Q26

(1) Non-GAAP Financial Measure. See Appendix 1 for a reconciliation to GAAP.

Appendices

Appendix 1

Non-GAAP Financial Measures Reconciliations

The following table sets forth selected financial information derived from the Company's interim unaudited and annual audited consolidated financial statements, adjusted for certain items, including the provision for credit losses, income taxes and goodwill and other intangible assets. The Company believes these adjusted numbers are useful to understand the Company's performance and underlying trends.

1. Includes provisions for credit losses on loans and provision for loan contingencies.

2. As of June 30, 2026, other intangible assets primarily consist of naming rights. In prior periods, also includes mortgage servicing rights ("MSRs"). Other intangible assets are included in other assets in the Company's consolidated balance sheets.

   Income Statement Highlights - 2Q26 vs 1Q26

   ($ in thousands)	2Q26	1Q26	Change
   Total Interest Income
   Loans $	103,449 $	102,674 $		775
   Investment securities	29,212	27,682		1,530
   Interest earning deposits with banks and other interest income	3,000	2,661		339
   Total Interest Expense
   Interest bearing demand, savings and money market deposits	27,154	26,365	789
   Time deposits	17,682	18,254	(572)
   Advances from FHLB	6,935	6,846	89
   Subordinated notes	362	361	1
   Junior subordinated debentures	952	910	42
   Securities sold under agreements to repurchase	1	-	1
   Total Provision for Credit Losses	4,750	7,800	(3,050)
   Total Noninterest Income	18,162	17,381	781
   Total Noninterest Expense	68,877	66,919	1,958
   Income Tax Expense	6,067	5,070	997
   Net Income Attributable to Amerant Bancorp Inc. $	21,043 $	17,873 $	3,170

   31

Glossary Glossary (cont'd)

• Assets under management and custody: consists of assets held for clients in an agency or fiduciary capacity which are not assets of the Company and therefore are not included in the consolidated financial statements.

• Core deposits: consist of total deposits excluding all time deposits

• Cost of Deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits.

• Cost of Funds: calculated based upon the average balance of total financial liabilities which include total interest bearing liabilities and noninterest bearing demand deposits

• Cost of Total Deposits: calculated based upon the average balance of total noninterest bearing and interest bearing deposits, which includes time deposits.

• In the first quarter of 2026, the Company early adopted ASU 2025-08, which expands the use of the gross-up approach for certain purchased loans and eliminates Day 1 credit loss expense. As a result, in the first and second quarters of 2026, the Company recorded an allowance for credit losses of $1.9 million and $0.5 million on approximately $149.5 million and $36.8 million of acquired loans, with no day 1 impact to earnings.

• Loans Held for Investment: excludes loans held for sale carried at fair value and loans held for sale carried at the lower of cost or fair value

• Net Charge-Offs: charge-offs net of recoveries

• Net Charge-Offs/Average Total Loans Held for Investment:

  • Annualized and calculated based upon the average daily balance of outstanding loan principal balance net of unamortized deferred loan fees and costs, excluding the allowance for credit losses

  • Total loans exclude loans held for sale

• Non-performing assets include accruing loans past due by 90 days or more, all nonaccrual loans, other real estate owned ("OREO") properties acquired through or in lieu of foreclosure and other repossessed assets

• Non-performing loans include accruing loans past due by 90 days or more and all nonaccrual loans.

• Quarterly beta (as shown in NII & NIM Slide): calculated based upon the change of the cost of deposit over the change of federal funds rate (if any) during the quarter.

• ROA: calculated based upon the average daily balance of total assets

• ROE: calculated based upon the average daily balance of stockholders' equity

• Total gross loans: consists of the principal balance of outstanding loans, including loans held for investment , loans held for sale at the lower of cost or fair value, and mortgage loans held for sale, net of unamortized deferred loan origination fees and loan origination costs, unamortized premiums paid on purchased loans and the unamortized balance of initial allowance for credit losses on purchased seasoned loans.

• Totals may not sum due to rounding of line items.

AMERANT BANI/ Imagine tomorrow.