AUB Presentation for Raymond James Conference

February - March, 2026

Investor Presentation NYSE: AUB

ADDITIONAL INFORMATION

Non-GAAP Financial Measures

This presentation contains certain financial information determined by methods other than in accordance with generally accepted accounting principles in the United States ("GAAP"). These non-GAAP financial measures are a supplement to GAAP, which is used to prepare our financial statements, and should not be considered in isolation or as a substitute for comparable measures calculated in accordance with GAAP. In addition, our non-GAAP financial measures may not be comparable to non-GAAP financial measures of other companies. We use the non-GAAP financial measures discussed herein in our analysis of our performance. Our management believes that these non-GAAP financial measures provide additional understanding of ongoing operations, enhance comparability of results of operations with prior periods, show the effects of significant gains and charges in the periods presented without the impact of items or events that may obscure trends in our underlying performance, or show the potential effects of accumulated other comprehensive income (or AOCI) or unrealized losses on securities on our capital. This presentation also includes certain projections of non-GAAP financial measures. Due to the inherent variability and difficulty associated with making accurate forecasts and projections of information that is excluded from these projected non-GAAP measures, and the fact that some of the excluded information is not currently ascertainable or accessible, we are unable to quantify certain amounts that would be required to be included in the most directly comparable projected GAAP financial measures without unreasonable effort.

Consequently, no disclosure of projected comparable GAAP measures is included, and no reconciliation of forward-looking non-GAAP financial information is included.

Please see "Reconciliation of Non-GAAP Disclosures" at the end of this presentation for a reconciliation to the nearest GAAP financial measure.

No Offer or Solicitation

This presentation does not constitute an offer to sell or a solicitation of an offer to buy any securities. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, and no offer to sell or solicitation of an offer to buy shall be made in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Market and Industry Data

Unless otherwise indicated, market data and certain industry forecast data used in this presentation were obtained from internal reports, where appropriate, as well as third party sources and other publicly available information. Data regarding the industries and markets in which the Company competes, its market position and market share within these industries are inherently imprecise and are subject to significant business, economic and competitive uncertainties beyond the Company's control. In addition, assumptions and estimates of the Company and its industries' future performance are necessarily subject to a high degree of uncertainty and risk due to a variety of factors. These and other factors could cause future performance to differ materially from assumptions and estimates.

About Atlantic Union Bankshares Corporation

Headquartered in Richmond, Virginia, Atlantic Union Bankshares Corporation (NYSE: AUB) is the holding company for Atlantic Union Bank. Atlantic Union Bank has branches and ATMs located in Virginia, Maryland, North Carolina and Washington D.C. Certain non-bank financial services affiliates of Atlantic Union Bank include: Atlantic Union Equipment Finance, Inc., which provides equipment financing; AUB Investments, Inc., which provides investment services; and Atlantic Union Capital Markets, Inc., which provides capital market services.

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OUR COMPANY

Soundness | Profitability | Growth

Maryland

BA L T I M O RE

Largest Regional Bank Headquartered in the Lower Mid-Atlantic

HIGHLIGHTS1

ST A U NT O N

Virginia

F RE D E RI CK SBU RG

CH A R LO T T E SV I LLE

W A SH I NG T O N

$37.6 Billion

Assets

$27.8 Billion

Loans

$30.5 Billion

Deposits

North Carolina

G R EENS B O R O

CH A R L O T T E

R O A NO K E

R I CH M O ND

RA L E I G H

NO R F O L K

V IR G IN IA BE A CH

W I L M I NG T O N

Branch (178) LPO (2)

1. Assets, Loans, Deposits, Branch Count are as of December 31, 2025. Market Cap as of January 21, 2026.

2. Based on deposit market share. Regional market: Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington D.C., and West Virginia

3. Regional banks defined as U.S. Banks with <$100 Billion in assets 4

OUR SHAREHOLDER VALUE PROPOSITION

ATTRACTIVE FINANCIAL PROFILE

LEADING REGIONAL PRESENCE

Dense, uniquely valuable presence across attractive markets

FINANCIAL STRENGTH

Solid balance sheet &

Solid dividend yield & payout ratio with earnings upside

capital levels

PEER-LEADING PERFORMANCE

Committed to top-tier financial performance

STRONG GROWTH POTENTIAL

Organic & acquisition opportunities

Positioned for growth and long-term shareholder value creation as a preeminent regional bank with a leading presence in attractive markets

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Our Core Values Continue to Make us Successful

CARING

Working together toward common goals, acting with kindness, respect, and a genuine concern for others.

COURAGEOUS

Speaking openly, honestly, and accepting our challenges

and mistakes as opportunities to learn and grow.

COMMITTED

Driven to help our clients, Teammates, and company succeed, doing what is right and accountable for our actions.

Select awards received over the last three years 6

Our Strategic Priorities

Merger Integration G Execution

Fully integrate and execute upon the Sandy Spring acquisition, realizing its expectations and potential

Build Scaling Capabilities

Continue to build infrastructure, risk management, workforce, processes and capabilities to support scaling over time

Deliver Organic Growth

Leverage core franchise to deepen relationships, grow market share, increase operating leverage, and build upon a strong and durable foundation

Innovate and Transform

Capitalize on technology to enhance organic growth, increase efficiency and quality, and outpace customer expectations

Strategic Investments

Supplement organic growth with other strategic opportunities to enhance our organic growth and transformation, but we plan to deprioritize whole bank acquisitions under our current strategic plan

7

Harnessing Organic Power

With the franchise now established, our focus is on maximizing its potential:

Organic growth

Deepening relationships, growing our company organically, and leveraging our scale efficiently.

Capital generation

Shifting from capital deployment to capital creation, targeting top tier returns, earnings growth, and tangible book value per share growth.

Disciplined execution

Delivering on the promises made to our stakeholders.

8

We Believe AUB Was Built For This Moment

We have invested the capital, built the platform, and assembled the team. Now is the time to demonstrate the power of what we have built-delivering sustainable, top-tier performance and returns.

A Deliberate, Disciplined Transformation Journey

Over the last ten years, AUB has evolved from a local Virginia community bank into the largest regional bank headquartered in the lower Mid-Atlantic.

Our expansion has been deliberate, blending steady organic growth with focused strategic mergers and acquisitions.

Total Growth CAGR: +1G% | Organic Growth CAGR: 7%

Every acquisition and investment was driven by a specific goal: to establish a strong, connected presence initially throughout Virginia, then Maryland, and now North Carolina. In the near term, we intend to maximize the potential of the Sandy Spring Bank acquisition.

TOTAL ASSETS, ($ BILLIONS)

AUB Acquired

$24.6

$17.5

$1G.6

$20.1

$20.5

$21.2

$13.8

$G.3

$37.6

2017 2018 201G 2020 2021 2022 2023 2024 2025

Acquired assets as of closing date except for Sandy Spring Bancorp which excludes the approximately $2 billion of CRE loans that were sold after closing 9

HIGHLIGHTS

Ǫ4 and Full Year 2025

LOANS G DEPOSITS

Loan growth was approximately 6.3% annualized in Ǫ4 2025.

Non-interest bearing deposits at 22% of total deposits at December 31, 2025

Loan/Deposit ratio of G1.2% at December 31, 2025

POSITIONING FOR LONG TERM

Lending pipelines remain healthy and are higher than at the start of Ǫ4 2025

Focused on generating positive operating leverage

ASSET ǪUALITY

Ǫ4 2025 net charge-offs at 1 basis point of total average loans held for investment annualized and Full Year 2025 net charge-offs at 17 bps of total average loans held for investment

Allowance for Credit Loss as a percentage of loans held for investment of 1.16%

FINANCIAL RATIOS

Ǫ4 2025 adjusted operating return on tangible common equity of 22.1%1 and 20.4%1 for the Full Year 2025

Ǫ4 2025 adjusted operating return on assets of 1.50%1 and 1.33%1 for the Full Year 2025

Ǫ4 2025 adjusted operating efficiency ratio (FTE) of 47.8%1 and 4G.7%1 for the Full Year 2025

DIFFERENTIATED CLIENT EXPERIENCE

Responsive, strong and capable alternative to large national banks, while competitive with and more capable than smaller banks

CAPITALIZE ON

STRATEGIC OPPORTUNITIES

Focused on execution and fully integrating of Sandy Spring franchise

Successfully converted core systems of Sandy Spring over weekend of October 11 and concurrently closed 5 branches

Organic expansion in North Carolina planned in 2026

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1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measure in "Appendix - Reconciliation of Non-GAAP Disclosures"

Market Opportunity in Virginia, Maryland, and North Carolina

Growth opportunity in all three states

VIRGINIA

ALL BANKS

1. TowneBank 12,748 5.6 5G

2. United Bankshares Inc. G,571 4.2 80

3. PNC Financial Services Group Inc. 5,344 2.3 53

4. Capital One Financial Corp. 4,0G3 1.8 20

G Burke & Herbert 3,555 1.6 37

Top 10 Banks

All Institutions in Market

$165,1G8

$22G,230

72.2%

100.0%

G67

1,852

10 Carter Bank & Trust 3,51G 1.5 52

VIRGINIA

BANKS HEADǪUARTERED

IN VA

2 TowneBank 12,748 14.6 5G

1. Capital One Financial Corp. 4,0G3 4.8 20

2. Burke & Herbert 3,555 4.2 37

3. Carter Bank & Trust 3,51G 4.1 52

4. Primis Financial Corp 3,16G 3.7 26

5. First Bancorp Inc. 3,004 3.5 21

6. C&F Financial Corp 2,261 2.7 31

G Blue Ridge Bankshares Inc. 2,018 2.4 2G

10 FVCBankcorp Inc. 1,7G3 2.1 5

MARYLAND

ALL BANKS

Top 10 Banks

All Institutions in Market

$56,607

$88,446

66.3%

100.0%

411

82G

NORTH CAROLINA ALL BANKS

Top 10 Banks

All Institutions in Market

$17G,812

$236,G07

75.7%

100.0%

1,301

2,004

Source: SNL Financial and FDIC deposit data

Deposit and branch data as of 6/30/25 which is presented on a pro forma basis for any announced transactions 11

Note: Excludes branches with deposits greater than $6.0 billion

Our Markets

2025 GDP

( $ BILLIONS)

2025 POPULATION

( MILLIONS)

10 New Jersey

867

12 Massachusetts

7G8

1. Michigan

2. Colorado

726

56G

18 Maryland 557

13 Virginia 787

11 North Carolina 866

1. Texas 2,7G8

2. New York 2,364

3. Florida 1,762

4. Illinois 1,158

5. Pennsylvania 1,055

6. Ohio G53

7. Georgia G07

1. Texas 31.2

2. Florida 23.2

3. New York 1G.4

4. Pennsylvania 13.0

5. Illinois 12.5

6. Ohio 11.8

7. Georgia 11.2

10 Michigan 10.1

11 New Jersey

G.3

12 Virginia 8.8

13 Washington 7.G

1. Arizona

2. Tennessee

7.6

7.3

1G Maryland 6.2

MEDIAN HOUSEHOLD INCOME ( $)

UNEMPLOYMENT BY STATE

November 2025

November 2025

# State HHI ($)

# State HHI ($)

# State

(%)

# State

(%)

1. Massachusetts G8,170

2. New Hampshire G6,80G

3. Washington G6,120

G Connecticut G5,3G2

2 New Jersey

GG,357

3 Maryland GG,340

1 District of Columbia 106,04G

10 California G5,065

11 Hawaii G4,556

13 Virginia G2,714

12 Alaska G4,247

14 Minnesota 88,572

1. South Dakota 2.1

2. Hawaii 2.2

3. North Dakota 2.6

3 Vermont 2.6

1. Alabama 2.7

2. Nebraska 3.0

G Maine 3.2

10 Montana 3.3

4.6

Source: Most recent data available from S&P Global; Bureau of Labor Statistics 12



Loan & Deposit Growth

LOANS ($B)

AUB Acquired

Total Growth CAGR: +1G% | Organic Growth CAGR: 7%

27.8

8.6

7.1

9.7

2.5

12.6

2.2

14.0

13.2

14.4

15.6

18.5

2.2

2017 2018 2019 2020 2021 2022 2023 2024 2025

DEPOSITS ($B)

AUB Acquired

Total Growth CAGR: +20% | Organic Growth CAGR: 7%

30.5

20.4

10.0

13.3

15.7

16.6

15.9

16.8

7.0

2017 2018 2019 2020 2021 2022 2023 2024 2025

Organic Growth CAGR excludes loans and deposits acquisitions from 2017 through 2025 13

BALANCE SHEET TRENDS (GAAP)

15% CAGR

14% CAGR

14% CAGR

LOANS ($mm) DEPOSITS ($mm) ASSETS ($mm)

$27,7G6

$18,471

$14,021 $13,196 $14,449

$15,635

$30,472

$20,398

$15,723

$16,611 $15,932

$16,818

$37,586

$24,585

$19,628 $20,065

$20,461

$21,166

2020 2021 2022 2023 2024 2025

2020 2021 2022 2023 2024 2025

2020 2021 2022 2023 2024 2025

Data as of December 31 each respective year

CAGR defined as compounded annual growth rate from 2020 through 2025 14

STRONG TRACK RECORD OF PERFORMANCE (GAAP) Data as of or for the twelve months ended each respective year 15

STRONG TRACK RECORD OF PERFORMANCE (NON-GAAP)

ADJUSTED OPERATING EARNINGS PER SHARE

AVAILABLE TO COMMON SHAREHOLDERS, DILUTED ($)(1)

ADJUSTED OPERATING RETURN

ON TANGIBLE COMMON EǪUITY (ROTCE) (%)(1)

$3.53

$2.21

$2.92

$2.95

$2.88

$3.44

2020 2021 2022 2023 2024 2025

18.07%

12.64%

17.06%

17.21%

16.85%

20.41%

2020 2021 2022 2023 2024 2025

ADJUSTED OPERATING RETURN ON ASSETS (ROA) (%)(1) ADJUSTED OPERATING EFFICIENCY RATIO (FTE)(%)(1)

52.18%

54.52%

54.68%

54.15%

53.31%

4G.68%

1.43%

0.94%

1.16%

1.14%

1.11%

1.33%

2020 2021 2022 2023 2024 2025

2020 2021 2022 2023 2024 2025

Data as of or for the twelve months ended each respective year

(1) Non-GAAP financial measure; See reconciliation to most directly comparable GAAP measure in "Appendix -- Reconciliation of Non-GAAP Disclosures" 16

Strong Track Record of Performance (Non-GAAP)

ADJUSTED OPERATING RETURN

ON TANGIBLE COMMON EǪUITY (ROTCE %)1

ADJUSTED OPERATING RETURN ON ASSETS (ROA %)1

ADJUSTED OPERATING EFFICIENCY RATIO (FTE %)1

18.1%

17.1%

17.2%

16.9%

20.4%

1.43%

1.16%

1.14%

1.11%

1.33%

54.5%

54.7%

54.2%

53.3%

4G.7%

2021 2022 2023 2024 2025

14.7%

20.4% 17.6%

2021 2022 2023 2024 2025

1.33%

1.28%

1.43%

2021 2022 2023 2024 2025

4G.7%

51.0%

55.0%

2025 AUB 2025 Peer Top Ǫuartile 2025 Peer Median

2025 AUB 2025 Peer Top Ǫuartile 2025 Peer Median

2025 AUB 2025 Peer Top

Ǫuartile

2025 Peer Median

Data as of or for the twelve months ended each respective year

Peer Group is our 2025 peer group used by our compensation committee as disclosed in our definitive proxy statement filed with the SEC on March 26, 2025. Peer data per SP Global Intelligence 17

1. Non-GAAP financial measure; See reconciliation to most directly comparable GAAP measure in "Appendix -- Reconciliation of Non-GAAP Disclosures"

CAPITAL MANAGEMENT STRATEGY

ATLANTIC UNION CAPITAL MANAGEMENT OBJECTIVES ARE TO:

• Maintain designation as a "well capitalized" institution.

• Ensure capital levels are commensurate with the Company's risk profile, capital stress test projections, and strategic plan objectives.

  THE COMPANY'S CAPITAL RATIOS ARE WELL ABOVE REGULATORY WELL CAPITALIZED LEVELS AS OF DECEMBER 31, 2025

• On a pro forma standalone basis, the Company and the Bank would be well capitalized if unrealized losses on securities were realized at December 31, 2025.

  CAPITAL MANAGEMENT ACTIONS

• During the fourth quarter, the Company paid a common stock dividend of 37 cents per share, which was an increase of 8.8% from the third quarter of 2025 and the fourth quarter of 2024 dividend amount.

• During the fourth quarter of 2025, the Company paid dividends of $171.88 per outstanding share of Series A Preferred Stock

STRONG CAPITAL POSITION

As of 12/31/2025 As of G/30/2025 % Change

1. For non-GAAP financial measures, see reconciliation to most directly comparable GAAP measures in "Appendix - Reconciliation of Non-GAAP Disclosures"

* Capital information presented herein is based on estimates and subject to change pending the Company's filing of its regulatory reports

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Capital Management Priorities

CAPITAL PRIORITIES

CONSOLIDATED COMMON EǪUITY TIER 1 CAPITAL RATIO

Target Range G.5%-10.5%

(We consider CET1 ratio > 10.5% at the holding company to be excess capital)

9.9%

10.2%

10.3%

10.2%

10.0%

9.8%

10.0%

10.1%

9.0%

2017 2018 2019 2020 2021 2022 2023 2024 2025

ANNUAL COMMON STOCK DIVIDEND GROWTH

7% 8-year CAGR

$1.09 $1.16

$0.96 $1.00

$0.81 $0.88

$1.22

$1.39

$1.30

2017 2018 2019 2020 2021 2022 2023 2024 2025

ADJUSTED OPERATING EARNINGS RETURNED TO COMMON SHAREHOLDERS1

70%

62%

43%

41%

44%

41%

32%

74% 77%

2017 2018 2019 2020 2021 2022 2023 2024 2025

Data as of or for the twelve months ended each respective year. Total Common shareholder payout; includes common share repurchases, common share dividends and adjusted operating earnings

available to common shareholders (Non-GAAP). See reconciliation to most directly comparable GAAP measure in "Appendix -- Reconciliation of Non-GAAP Disclosures" 19

1G% - 20%

Return on Tangible Common Equity

1.4% -1.5%

Return on Assets

46% - 48%

Efficiency Ratio (FTE)

Medium-Term Financial Targets1

KEY FINANCIAL PERFORMANCE OPERATING METRICS BENCHMARKED AGAINST TOP ǪUARTILE PROXY PEERS

Atlantic Union is committed to achieving top tier financial performance and providing our shareholders with above average returns on their investment regardless of the operating environment

We expect to achieve these financial targets in 2026

1. Medium-term is 2026 to 2027 20