East West Bancorp, Inc.

Nov 14, 2025 at 3:18 AM UTC

East West Bancorp: Fourth Quarter 2025 Investor Update

‌East West Bancorp, Inc. 4Q25 Investor Presentation

November 2025

‌East West at a Glance

09.30.25

3Q25

~$15B Market Cap

$80B Assets

$67B Deposits

18% ROTCE1

A Leading Regional Bank with Cross-Border Capabilities...

…Well Positioned in Dense, Attractive Markets…

Headquartered in Pasadena, California
Key Markets
WA
▪

Founded in 1973 - over 50 years in operation MA
NY
▪

Over 25 years on Nasdaq NV IL CA

Roots in the U.S. Asian-American immigrant community, expanded to bridge businesses across the Pacific
GA

Award-winning Company TX
#1 Top Performing Bank in 2025, $50+ Billion (Bank Director), marking our 3rd consecutive year
Top 3 Performing Banks in 2025, $50+ Billion (American Banker)

(1) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company's earnings press release 2
‌3Q25 Financial Highlights
Record 3Q25 net income of $368 million, $2.65 diluted quarterly earnings per share

Deposit-Led Growth

Total EOP customer deposits up
$1.5bn+ Q-o-Q
Total EOP loans up $800mm+ Q-o-Q
Optimized funding; paid down $500mm of Federal Home Loan Bank (FHLB) advances
Resilient Asset
Quality
Ample liquidity: incrementally bolstered cash and securities
Annualized quarterly NCOs of 13bps
Nonperforming assets at 25bps
Provision for credit losses of $36mm
Bolstered ALLL to 1.42%, reflecting changes in our economic outlook
Record revenue of $778mm
Record Fees and Earnings
Record NII of $678mm
Record fee income of $92mm
Record pre-tax pre-provision1 income (PTPP) of $503mm
17% ROACE (18% ROTCE1)
Position of Significant Strength
Record reported total capital of $8.6bn
− 14.8% Common Equity Tier 1 (CET 1) ratio; 10.2% Tangible Common Equity (TCE)1 ratio
$216mm of share repurchase authorization
remains available
Strong liquidity levels: 26% of assets in cash and securities

‌Deposits

Another $1 billion+ quarter of customer deposit growth, with 8% Y-o-Y growth in average noninterest-bearing demand

Average Deposits End of Period Deposit Growth by Category (2Q25 to 3Q25)

Q-o-Q

+2%

Y-o-Y

+9%

($ in billions) ($ in millions)

$60.6

$61.9

$62.6

$63.7

15.8

14.6

15.0

15.1

14.2

14.3

14.8

15.3

16.6

9.5

9.7

9.5

9.4

9.2

22.3

22.9

23.2

23.9

24.6

+11%

-3%

+17%

+8%

$672

$190

$66.2

+4%

Time $980

+4%

Noninterest-bearing Demand

+1%

Money Market

-3%

3Q24 4Q24 1Q25 2Q25 3Q25

Noninterest-bearing Demand (DDA)

MMDA

IB Checking & Savings

Time

IB Checking & Savings

$(283)

‌Loans

Steady, balanced growth, with 8% Y-o-Y growth in average C&I balances

Average Loans End of Period Loan Growth by Category (2Q25 to 3Q25)

Q-o-Q

+1%

Y-o-Y

+5%

($ in billions) ($ in millions)

$249

$186

$58

$52.4

$53.2

$53.3

$54.3

$55.2

15.4

15.3

15.1

15.5

15.9

5.0

5.1

5.0

15.7

16.1

15.9

16.4

16.5

16.8

17.0

16.5

17.4

17.8

+2%

+8%

CRE (ex. Multifamily) $319

+6%

+2%

Residential mortgage & other consumer

+1%

-3%

C&I

+5%

+1%

Multifamily

3Q24 4Q24 1Q25 2Q25 3Q25

C&I

Residential mortgage & other consumer

Multifamily

CRE (ex. Multifamily)

‌Net Interest Income & Net Interest Margin

Record net interest income driven by continued momentum in deposit growth

Net Interest Income (NII) & Net Interest Margin (NIM)

($ in millions)

Highlights

NII

NIM

Adjusted NII and NIM(1)

Continued low-cost deposit growth drove record reported NII
$678
$645
3.53%
$617
$600
$588
$573
3.35%
3.35%
3.24%
3.24%
3Q24
4Q24
1Q25
2Q25
Reported 3Q25
3Q25 Adj.
3.36%

Reported NII includes $32mm of certain discount accretion and interest recoveries. Excluding this amount, adjusted Q3 NII of $645mm was still an all-time quarterly record for East West

End of Period Interest-Bearing Deposit Cost

3.92%

3.73%

3.43%

3.30% 3.25%

-77bps

3.15%

(1) See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company's earnings press releases

‌Fee Income

Sustained execution supported Q-o-Q growth across all categories

Fee Income1

($ in millions)

			Y-o-Y
			+13%
$92

15			+36%


15			+7%

Wealth Management Fees

Foreign Exchange Income

+71%

Customer Derivative Income

+6%

Commercial and Consumer

Deposit-Related Fees

+4%

Lending and Loan Servicing Fees

Highlights

Record fee income1 of $92mm, up nearly
$11mm or +14% from $81mm Q-o-Q
− Further growth in wealth management, customer derivatives, lending fees, and foreign exchange income up by a combined ~$10mm, all reflecting higher customer activity
− Commercial and consumer deposit-related fees up $1mm+ Q-o-Q, reflecting higher treasury management and service-related fee income
$88
$81
$81
14
$81
11
10
11
13
16
16
14
6
4
4
5
4
27
26
27
28
27
26
25
26
25
28

3Q24 4Q24 1Q25 2Q25 3Q25

(1) Fee income excludes mark-to-market adjustments related to customer and other derivatives; net gains on AFS debt securities; other investment income and other 7
income
‌Operating Expense & Efficiency
Maintaining best-in-class efficiency
Total Operating Noninterest Expense1
($ in millions)
Y-o-Y
+19%

$261

$231

$236

$230

$234

$220

176

140

146

136

145

3Q24

4Q24

1Q25

2Q25

3Q25 Adj.

Reported 3Q25

149

Adjusted Compensation and Employee Benefits Expense2

+30%

Compensation and Employee Benefits

+10%

Computer and Software

-18%

Related Expenses, All Other Deposit-Related Expenses3

Occupancy and Equipment

Highlights

Total operating noninterest expense1 of

$261mm

− Includes $27 million of compensation expense from a change in equity award recognition for retirement eligible employees

Efficiency Ratio and Operating Noninterest

Expense/Average Assets Ratio1

36.4%

33.8%

35.6%

1.27%

1.20%

1.31%

1Q25

2Q25 3Q25 Adj. Reported

3Q25

Efficiency Ratio

Adjusted Efficiency Ratio2

Op. Noninterest Expense / Avg. Assets1

Total noninterest expense excluding amortization of tax credit and CRA investments
See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company's earnings press releases 8

Deposit-related expenses include deposit account expenses and deposit insurance premiums and regulatory assessments, including FDIC special deposit

insurance assessment charges and reversals of $(3) million, $833 thousand and $(833) thousand and $(2) million for 4Q24, 1Q25, 2Q25, and 3Q25 respectively

‌Asset Quality Metrics

Resilient credit - measures holding at low absolute levels

Provision for Credit Losses & Net Charge-offs Nonperforming Assets

($ in millions)

Provision for credit losses

$42

$29

$70

$64

$49

$45

$36

OREO and Other

CRE

$195 49

$194

$182

$172

$201

Net charge-

offs

$15

$18

Resi. mortgage & consumer

C&I

NPA / Total assets

0.26%

0.24%

0.22%

0.25%

NCO ratio (ann.)

0.22%

0.48%

0.12%

0.11%

0.13%

3Q24 4Q24 1Q25 2Q25 3Q25

09.30.24 12.31.24 03.31.25 06.30.25 09.30.25

Criticized Loans / Loans HFI Criticized Ratio by Loans HFI Portfolio

C&I CRE (ex. Multifamily) Multifamily

Resi mortgage & consumer

2.08%

2.18%

2.29%

2.15%

2.14%

1.20%

1.38%

1.34%

1.38%

1.35%

0.76%

0.81%

0.91%

0.83%

0.88%

3.76%

4.28% 4.06%

2.67%

2.05%

2.47%

1.81%

1.16%

0.31%

0.65% 0.54% 0.49%

09.30.24 12.31.24 03.31.25 06.30.25 09.30.25

Classified loans / Loans HFI

Special mention loans / Loans HFI

‌Allowance for Loan Losses

Bolstered reserves by $30 million quarter-over-quarter, reflecting changes in our economic outlook

Allowance for Loan Losses (ALLL)

($ in millions)

$760

$735

$696

$702

1.31%

1.35%

1.38%

1.42%

$791

Highlights

Bolstered ALLL in light of changes to

the economic outlook

- Increased reserves by $30mm, driven primarily by changes in the impact of the economic forecast

09.30.24 12.31.24 03.31.25 06.30.25 09.30.25

ALLL

ALLL/Loans HFI

Composition of ALLL by Portfolio

09.30.24			06.30.25		09.30.25
Loan category	ALLL	ALLL ratio	ALLL	ALLL ratio	ALLL	ALLL ratio
C&I	$ 378	2.22%	$ 442	2.48%	$ 442	2.45%
Total CRE (incl. MFR)	265	1.30	259	1.26	281	1.33
MFR	32	0.62	29	0.58	35	0.70
Office	66	3.11	60	2.78	64	2.93
All Other CRE	167	1.27	170	1.26	182	1.31
Resi mortgage & consumer	53	0.34	59	0.36	68	0.41
Total	$ 696	1.31%	$ 760	1.38%	$ 791	1.42%

($ in millions)

- Increased reserves for residential mortgage and commercial real estate to capture potential effects of business cycle

‌Capital

Position of significant strength

Tangible Common Equity Ratio1 Regulatory Capital Ratios2

5.0%

10.4% 10.4% 10.5% 10.6% 10.7%

Highlights

Declared 4Q25 dividend of $0.60
Tangible Common Equity Ratio
10.2%
9.9%
10.0%
9.7%
9.6%

10.0%
Leverage Ratio
14.1% 14.3% 14.3% 14.5% 14.8%
CET1 Ratio
15.4% 15.6% 15.6% 15.8% 16.1%
Total Capital Ratio
- Payable on November 17, 2025 to shareholders of record on November 3, 2025
6.5%
- Repurchased $25mm shares in 3Q25
  - Grew both book value, tangible book
    value1 5% Q-o-Q
- Capacity for ongoing repurchases
  - $216 million of East West's share repurchase authorization remains available; we remain opportunistic

09.30.24

12.31.24

03.31.25

06.30.25

09.30.25

Regulatory well capitalized requirement

See reconciliation of GAAP to non-GAAP financial measures in the appendix and in the Company's earnings press release
The Company applied the 2020 Current Expected Credit Losses ("CECL") transition provision in the December 31, 2024 and September 30, 2024 regulatory capital ratio calculations. The CECL transition provision permitted certain banking organizations to exclude from regulatory capital the initial adoption impact of CECL, plus 25% of the

cumulative changes in the allowance for credit losses under CECL for each period until December 31, 2021, followed by a three-year phase-out period in which the aggregate 11

benefit was reduced by 25% in 2022, 50% in 2023 and 75% in 2024. The CECL transition was no longer in effect as of January 1, 2025.

‌Management Outlook: Full Year 2025

Earnings Drivers	FY 2025 Expectations vs. FY 2024 Results
Interest Rate Outlook	Assumes September 30th forward curve
End of Period Loans	Growing in the range of 4% to 6% Y-o-Y
Net Interest Income Total Revenue	Trending above 10% Trending above 10%
Total Operating Noninterest Expense(1)	Growing in the range of 7% to 9% Y-o-Y
Net Charge-offs	In the range of 10bps to 20bps
Tax Items	Effective tax rate of ~23% Amortization of tax credit and CRA investment expense in the range of $70 to $80 million

FY 2025 Expectation

Top Quartile Returns

Best-in-Class Efficiency

‌Appendix

‌Diversified Loan Portfolio

70% of loans support commercial customers, with broad diversification across industry and asset types

Commercial Loans by Type

(as % of Total Loans, 09.30.25)

Resi. Mortgage and other consumer

$16.7

30%

CRE

$21.1 38%

C&I

$18.0 32%

General

Real Estate Investment & Mgmt.

Capital Call Lending

Media & Entertainment Infrastructure & Clean Energy

Financial Services Manufacturing and Wholesale Food Production and Distribution

Industries with 1% of total loans outstanding1

C&I

$18.0bn

Total Loan Portfolio

$55.8bn

CRE

$21.1bn

9%
8%
8%
4%
4%
2%
2%
1%

Multifamily

Retail

Industrial

Hotel

Office

Healthcare All other CRE

Construction and Land

‌Commercial Real Estate Portfolio Detail

Our CRE portfolio is granular - many loans have full recourse and personal guarantees

Distribution by Loan-to-Value (LTV)1 Size and LTV by Property Type

(as of 09.30.25)

>65% to 70%

>60% to 65%

12%

>70%

(as of 09.30.25)

>55% to 60%

15%

49%

Average LTV1

<=50%

	Total Portfolio Size ($bn)	Weighted Avg. LTV1 (%)	Average Loan Size ($mm)
Multifamily	$5.0	50%	$2
Retail	4.5	47	3
Industrial	4.2	46	4
Hotel	2.5	51	9
Office	2.2	52	4
Healthcare	0.8	51	4
Other	1.1	49	4
Construction & Land2	0.8	50	15
Total CRE	$21.1	49%	$3

50%

>50% to 55%

15%

Fewer than 25% of CRE loans have an LTV over 60%

15
1. Weighted average LTV is based on most recent LTV, using most recent available appraisal and current loan commitment
2. Construction & Land average size based on total commitment

‌CRE Office - Additional Information

Our office portfolio has low LTVs across segments and low average loan sizes

CRE Office: Geographic Mix by Metro Area CRE Office by Size Segment

(as of 09.30.25)

Washington

Other NY, 1% 6%

Manhattan, 1%

Other Regions

Other

Loan Size	Balance ($ in mm)	No. of Loans	Avg. Loan Size ($ in mm)	Weighted Avg. LTV (%)
>$30mm	$352	9	$39	55%
$20mm - $30mm	395	16	25	58
$10mm - $20mm	484	34	14	55
$5mm - $10mm	414	57	7	52
<$5mm	545	404	1	44
Total	$2,190	520	$4	52%

(as of 09.30.25)

New Jersey 3%

38%

Los Angeles County

Other TX 4%

Dallas 4%

Houston 3%

Other CA, 1%

San Francisco 6%

Other Bay Area

11%

Other SoCal

Downtown Los Angeles and Adjacent Neighborhoods

‌CRE Retail - Additional Information

Our retail portfolio has a weighted average LTV profile of 47%

CRE Retail: Geographic Mix by Metro Area CRE Retail by Size Segment

(as of 09.30.25)

Washington

Other Regions

12%

30%

Other Los Angeles

County

(as of 09.30.25)

Other NY 4%

Manhattan 3%

New Jersey, 1%

Other TX, 2%

Dallas, 2%

Houston

Loan Size	Balance ($ in mm)	No. of Loans	Avg. Loan Size ($ in mm)	Weighted Avg. LTV (%)
>$30mm	$267	7	$38	41%
$20mm - $30mm	507	20	25	58
$10mm - $20mm	824	61	14	48
$5mm - $10mm	772	113	7	47
<$5mm	2,104	1,519	1	44
Total	$4,474	1,720	$3	47%

Downtown

Los Angeles and

Other

CA 2%

San Francisco 9%

19%

Other

Adjacent

Neighborhoods

Other

Bay Area

SoCal

‌CRE Multifamily - Additional Information

Our multifamily portfolio is amongst our most granular

CRE Multifamily: Geographic Mix by Metro Area CRE Multifamily by Size Segment

(as of 09.30.25)

Nevada

Other Regions

(as of 09.30.25)

Arizona 3%

Washington

31%

Other Los Angeles

Loan Size	Balance ($ in mm)	No. of Loans	Avg. Loan Size ($ in mm)	Weighted Avg. LTV (%)
>$30mm	$694	18	$39	59%
$20mm - $30mm	670	28	24	55
$10mm - $20mm	585	43	14	53
$5mm - $10mm	687	98	7	53
<$5mm	2,402	2,612	1	45
Total	$5,038	2,799	$2	50%

County

Other NY

Manhattan, 2%

Oklahoma Other Texas, 1%

Dallas

Houston

Other

CA 5%

13%

Other

Downtown Los Angeles and

Adjacent Neighborhoods

San Francisco

Other Bay Area

SoCal

‌Residential Mortgage Portfolio

Our residential mortgage portfolio benefits from both low LTVs and smaller average loan size

Resi. Mortgage Distribution by LTV1 Portfolio Highlights as of 09.30.25

>60%

12%

>55% to 60%

25%

<=50%

51%

>50%

to 55%

12%

(as of 09.30.25) Outstandings

$16.7bn loans outstanding
50%
Average LTV1
Resi. Mortgage Distribution by Geography3
(as of 09.30.25)
$439,000
Average loan size2
▪ +2% Q-o-Q and +6% Y-o-Y
Originations
$0.9bn in 3Q25
Primarily originated through East West Bank branches
Single-family Residential
$14.8bn loans outstanding

Other 9%
Texas 3%
Washington
6%
New York 24%
Southern California 42%
Northern California 16%
▪ +2% Q-o-Q and +6% Y-o-Y
HELOC
- $1.9bn loans outstanding
- $3.6bn in undisbursed commitments
- 34% utilization, unchanged from 06.30.25
- 76% of commitments in first lien position
  1. Combined LTV for 1st and 2nd liens; based on commitment
    ‌Cash and Securities
    Incrementally bolstered on balance sheet liquidity with cash and high-quality liquid assets (HQLA)
    Average Total Securities Portfolio and Cash
    ($ in billions)
    $17.7
    $18.8
    $19.2
    $19.5
    $20.8
    $4.5
    $5.4
    $5.0
    $14.7
    $4.1
    $15.4
    $5.3
    $15.5
    $12.3
    $13.8
    4.03%
    3.98%
    4.08%
    4.02%
    4.05%
    
    Total Securities
    Cash, Equivalent & Resale Agreements
    Total Securities Average Yield
    
    3Q24 4Q24 1Q25 2Q25 3Q25
    Securities Portfolio Composition by Risk-Weighted Asset (RWA) Distribution
    ($ in billions, as of 09.30.25)
    Highlights
Securities portfolio well-positioned as a source of liquidity, interest rate risk management, and earnings support

− Total securities average yield up 3bps Q-o-Q

− 96% of investment portfolio 0% - 20% risk-weighted (HQLA)

− 60% fixed-rate securities, 40% floating

$4.3

$0.1

$0.5

0% RWA $10.7

$15.6bn Securities Portfolio

20% RWA

50% RWA

100% RWA

‌Loan Yields

Loan Portfolio by Index Rate

(as of 09.30.25)

Average C&I Loan Rate

27%

20%

22%

31%

7.93%

7.42%

7.71%

7.06%

7.02%

Fixed rate

Total fixed rate and hybrid in fixed period: 42%

Hybrid in fixed rate period

Variable - SOFR

Variable - Prime, all other rates

91% variable rate

Average Residential Mortgage Loan Rate Average CRE Loan Rate

5.86% 5.86% 5.94% 5.93% 5.90% 6.44% 6.22% 6.20% 6.24% 6.23%

SFR: 46% hybrid in fixed-rate period & 39% fixed rate

57%* variable rate

10.07.25 rate sheet price for 30-year fixed: 6.375% *52% had customer-level interest rate derivative contracts

3Q24

4Q24

1Q25

2Q25

3Q25

3Q24

4Q24

1Q25

2Q25

3Q25

‌Deposit and Funding Cost

Average Deposit and Liability Cost

3.93%

4.05%

3.63%

3.71%

3.34%

3.43%

3.39%

3.34%

2.98%

3.31%

3.26%

2.75%

2.54%

2.52%

2.49%

3Q24 4Q24 1Q25 2Q25 3Q25

Average cost of deposits

Average cost of interest-bearing deposits

Average cost of interest-bearing liabilities

Average Deposit Rate by Portfolio

Interest-bearing Checking

3.32%

3.17%

3.25% 3.21%

2.98%

2.82%

2.51% 2.48% 2.47%

3.82%

Money Market

3.93%

3.79%

3.71%

4.55% 4.31%

Time

3Q24

4Q24

1Q25

2Q25

3Q25

‌Appendix: GAAP to Non-GAAP Reconciliation

EAST WEST BANCORP, INC. AND SUBSIDIARIES

GAAP TO NON-GAAP RECONCILIATION

($ in thousands)

(unaudited)

Management believes that presenting the adjusted net interest margin that excludes the impact of discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans provide clarity to financial statement users regarding the changes in margins and allows comparability to prior periods.

			Three Months Ended		Nine Months Ended
		September 30, 2025	June 30, 2025	September 30, 2024		September 30, 2025	September 30, 2024
Net interest margin
Net interest income	(a)	$ 677,530	$ 617,074	$ 572,722		$ 1,894,805	$ 1,691,090
Less: Loan payoff discount accretion and interest recoveries		(32,296)	-	-		(32,296)	-
Adjusted net interest income	(b)	$645,234	$ 617,074	$ 572,722		$ 1,862,509	$ 1,691,090
Average interest-earning assets	(c)	$ 76,206,138	$ 73,903,125	$ 70,263,495		$ 74,288,924	$ 68,902,563
Net interest margin1	(a)/(c)	3.53%	3.35%	3.24%		3.41%	3.28%
Adjusted net interest margin1	(b)/(c)	3.36%	3.35%	3.24%		3.35%	3.28%

‌Appendix: GAAP to Non-GAAP Reconciliation

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Adjusted net income and adjusted diluted EPS represent net income and diluted EPS adjusted for the following tax-effected impacts: discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans, change in equity award expense recognition for retirement eligible employees, FDIC special assessment and DC Solar adjustments; and the impact of the CA SSF. Management believes that presenting the computations of the adjusted net income, adjusted diluted EPS, adjusted return on average assets and adjusted return on average common equity that exclude the aforementioned tax-effected adjustments and the impact of the CA SSF provide clarity to financial statement users regarding the ongoing performance of the Company and allow comparability to prior periods. Discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans are included in Interest and dividend income on the Condensed Consolidated Statement of Income. During the third quarter and first nine months of 2025, the Company recorded $27 million of additional compensation due to the change in equity award expense recognition for retirement eligible employees (included in Compensation and employee benefits on the Condensed Consolidated Statement of Income). FDIC special assessment reversals/charges are included in Deposit insurance premiums and regulatory assessments on the Condensed Consolidated Statement of Income. DC Solar recoveries related to the Company's investment in DC Solar are included in Amortization of Tax Credit and CRA Investments on the Condensed Consolidated Statement of Income.
			Three Months Ended		Nine Months Ended
		September 30, 2025	June 30, 2025	September 30, 2024	September 30, 2025	September 30, 2024
Net income	(a)	$ 368,394	$ 310,253	$ 299,166	$ 968,917	$ 872,471
Less: Loan payoff discount accretion and interest recoveries	(b)	(32,296)	-	-	(32,296)	-
Add: Change in equity award expense recognition for retirement eligible employees	(b)	27,141	-	-	27,141	-
Less/Add: FDIC special assessment (reversal) charge	(b)	(1,927)	(833)	-	(1,927)	12,185
Less: DC Solar recovery	(b)	-	-	(11,201)	-	(14,347)
Tax effects adjustments1	(b)	1,996	235	3,311	1,996	639
Add: Impact of the CA SSF	(b)	-	6,391	-	6,391	-
Adjusted net income	(c)=(a)+∑(b)	$ 363,308	$ 316,046	$ 291,276	$ 970,222	$ 870,948

Diluted weighted-average number of shares outstanding	(d)	138,942	138,789	139,648	139,090	139,939
Diluted EPS	(e)	$ 2.65	$ 2.24	$ 2.14	$ 6.97	$ 6.23
Less: Loan payoff discount accretion and interest recoveries	(f)	(0.23)	-	-	(0.23)	-
Add: Change in equity award expense recognition for retirement eligible employees	(f)	0.20	-	-	0.20	-
Less/Add: FDIC special assessment (reversal) charge	(f)	(0.01)	(0.01)	-	(0.01)	0.09
Less: DC Solar recovery	(f)	-	-	(0.08)	-	(0.10)
Tax effects of adjustments1	(f)	0.01	-	0.03	0.01	-
Add: impact of the CA SSF	(f)	-	0.05	-	0.05	-
Adjusted diluted EPS	(g)=(e)+∑(f)	$ 2.62	$ 2.28	$ 2.09	$ 6.99	$ 6.22

(1) Applied statutory tax rate of 28.18% for the three and nine months ended September 30, 2025, and the three months ended June 30, 2025. 24

Applied statutory tax rate of 29.56% for the three and nine months ended September 30, 2024.

‌Appendix: GAAP to Non-GAAP Reconciliation (Continued from Slide 25)

EAST WEST BANCORP, INC. AND SUBSIDIARIES

GAAP TO NON-GAAP RECONCILIATION

($ in thousands)

(unaudited)

			Three Months Ended		Nine Months Ended
		September 30, 2025	June 30, 2025	September 30, 2024	September 30, 2025	September 30, 2024
Average total assets	(h)	$ 79,310,698	$ 76,862,028	$ 73,268,158	$ 77,279,375	$ 72,049,714
Average stockholders' equity	(i)	$ 8,381,214	$ 8,069,982	$ 7,443,333	$ 8,108,615	$ 7,175,445
Return on average assets	(a)/(h)	1.84%	1.62%	1.62%	1.68%	1.62%
Adjusted return on average assets1	(c)/(h)	1.82%	1.65%	1.58%	1.68%	1.61%
Return on average common equity1	(a)/(i)	17.44%	15.42%	15.99%	15.98%	16.24%
Adjusted return on average common equity1	(c)/(i)	17.20%	15.71%	15.57%	16.00%	16.21%

‌Appendix: GAAP to Non-GAAP Reconciliation

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's performance. Non- GAAP measures used consist of FTE net interest income and total revenue. The FTE adjustment relates to tax exempt interest on certain investment securities and loans. Adjusted total revenue and adjusted total revenue (FTE) reflect the adjustments related to the discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans. Adjusted noninterest expense reflects the change in equity award expense recognition for retirement eligible employees, and the FDIC special assessment and DC Solar adjustments (as applicable). Efficiency ratio (FTE) represents noninterest expense divided by total revenue (FTE). Adjusted efficiency ratio and adjusted efficiency ratio (FTE) reflect the impacts of the aforementioned adjustments. Pre-tax, pre-provision income represents total revenue (FTE) less noninterest expense. Adjusted pre-tax, pre-provision income represents adjusted total revenue (FTE) less adjusted noninterest expense.
			Three Months Ended		Nine Months Ended
		September 30, 2025	June 30, 2025	September 30, 2024	September 30, 2025	September 30, 2024
Net interest income before provision for credit losses	(a)	$ 677,530	$ 617,074	$ 572,722	$ 1,894,805	$ 1,691,090
FTE adjustment	(b)	1,887	1,603	411	4,636	3,491
FTE net interest income before provision for credit losses	(c)=(a)+(b)	679,417	618,677	573,133	1,899,441	1,694,581
Total noninterest income	(d)	100,517	86,178	84,395	278,797	247,053
Total revenue	(e)=(a)+(d)	778,047	703,252	657,117	2,173,602	1,938,143
Total revenue (FTE)	(f)=(c)+(d)	$ 779,934	$ 704,855	$ 657,528	$ 2,178,238	$ 1,941,634
Less: Loan payoff discount accretion and interest recoveries	(g)	(32,296)	-	-	(32,296)	-
Adjusted total revenue	(h)=(e)+(g)	745,751	703,252	657,117	2,141,306	1,938,143
Adjusted total revenue (FTE)	(i)=(f)+(g)	$ 747,638	$ 704,855	$ 657,528	$ 2,145,942	$ 1,941,634

Total noninterest expense	(j)	$ 276,923	$ 256,020	$ 225,800	$ 785,091	$ 708,106
Less: Change in equity award expense recognition for retirement eligible employees	(k)	(27,141)	-	-	(27,141)	-
Add/less: FDIC special assessment reversal (charge)	(k)	1,927	833	-	1,927	(12,185)
Less: DC Solar recovery	(k)	-	-	11,201	-	14,347
Adjusted noninterest expense	(l)=(j)+∑(k)	$ 251,709	$ 256,853	$ 237,001	$ 759,877	$ 710,268

Efficiency ratio	(j)/(e)	35.59%	36.41%	34.36%	36.12%	36.54%
Adjusted efficiency ratio	(l)/(h)	33.75%	36.52%	36.07%	35.49%	36.65%
Efficiency ratio (FTE)	(j)/(f)	35.51%	36.32%	34.34%	36.04%	36.47%
Adjusted efficiency ratio (FTE)	(l)/(i)	33.67%	36.44%	36.04%	35.41%	36.58%
Pre-tax, pre-provision income	(f)-(j)	$ 503,011	$ 448,835	$ 431,728	$ 1,393,147	$ 1,233,528
Adjusted pre-tax, pre-provision income	(i)-(l)	$ 495,929	$ 448,002	$ 420,527	$ 1,386,065	$ 1,231,366

‌Appendix: GAAP to Non-GAAP Reconciliation

EAST WEST BANCORP, INC. AND SUBSIDIARIES

GAAP TO NON-GAAP RECONCILIATION

($ in thousands)

(unaudited)

The Company uses certain non-GAAP financial measures to provide supplemental information regarding the Company's performance. Tangible book value, tangible book value per share and TCE ratio are non-

GAAP financial measures. Tangible book value and tangible assets represent stockholders' equity and total assets, respectivel y, which have been reduced by goodwill and mortgage servicing assets. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion.

		September 30, 2025	June 30, 2025	September 30, 2024
Common stock		$ 170	$ 170	$ 170
Additional paid-in capital		2,096,227	2,060,115	2,018,105
Retained earnings		8,028,882	7,744,221	7,095,587
Treasury stock		(1,166,922)	(1,140,359)	(1,012,019)
Accumulated other comprehensive income:
AFS debt securities net unrealized losses		(383,621)	(466,568)	(456,493)
Cash flow hedges net unrealized gains (losses)		30,425	28,622	39,143
Foreign currency translation adjustments		(22,361)	(24,434)	(19,954)
Total accumulated other comprehensive loss		(375,557)	(462,380)	(437,304)
Stockholders' equity	(a)	$ 8,582,800	$ 8,201,767	$ 7,664,539
Less: Goodwill		(465,697)	(465,697)	(465,697)
Mortgage servicing assets		(4,362)	(4,628)	(5,563)
Tangible book value	(b)	$ 8,112,741	$ 7,731,442	$ 7,193,279
Number of common shares at period-end	(c)	137,568	137,816	138,609
Book value per share	(a)/(c)	$ 62.39	$ 59.51	$ 55.30
Tangible book value per share	(b)/(c)	$ 58.97	$ 56.10	$ 51.90
Total assets	(d)	$ 79,669,531	$ 78,158,067	$ 74,483,720
Less: Goodwill		(465,697)	(465,697)	(465,697)
Mortgage servicing assets		(4,362)	(4,628)	(5,563)
Tangible assets	(e)	$ 79,199,472	$ 77,687,742	$ 74,012,460
Total stockholders' equity to assets ratio	(a)/(d)	10.77%	10.49%	10.29%
TCE ratio	(b)/(e)	10.24%	9.95%	9.72%

‌Appendix: GAAP to Non-GAAP Reconciliation

EAST WEST BANCORP, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
($ in thousands)
(unaudited)
Return on average TCE represents tangible net income divided by average tangible book value. Tangible net income excludes the after-tax impacts of the amortization of mortgage servicing assets. Adjusted return on average TCE represents adjusted tangible net income divided by average tangible book value. Adjusted tangible net income is tangible net income excluding the following tax-effected impacts: discount accretion and interest recoveries from the full payment on purchased credit impaired and workout loans, change in equity award expense recognition for retirement eligible employees, FDIC special assessment and DC Solar adjustments, and the impact of the CA SSF. Given that the use of such measures and ratios is more prevalent in the banking industry, and are used by banking regulators and analysts, the Company has included them below for discussion.
	Three Months Ended				Nine Months Ended
	September 30, 2025		June 30, 2025	September 30, 2024	September 30, 2025	September 30, 2024
Net income	(a)	$ 368,394	$ 310,253	$ 299,166	$ 968,917	$ 872,471
Add: Amortization of mortgage servicing assets		266	316	348	875	988
Tax effect of amortization adjustment1		(75)	(89)	(103)	(247)	(292)
Tangible net income	(b)	$ 368,585	$ 310,480	$ 299,411	$ 969,545	$ 873,167
Less: Loan payoff discount accretion and interest recoveries		(32,296)	-	-	(32,296)	-
Add: Change in equity award expense recognition for retirement eligible employees		27,141	-	-	27,141	-
Less/Add: FDIC special assessment (reversal) charge		(1,927)	(833)	-	(1,927)	12,185
Less: DC Solar recovery		-	-	(11,201)	-	(14,347)
Tax effects of adjustments1		1,996	235	3,311	1,996	639
Add: Impact of the CA SSF		-	6,391	-	6,391	-
Adjusted tangible net income	(c)	$ 363,499	$ 316,273	$ 291,521	$ 970,850	$ 871,644
Average stockholders' equity	(d)	$ 8,381,214	$ 8,069,982	$ 7,443,333	$ 8,108,615	$ 7,175,445
Less: Average goodwill		(465,697)	(465,697)	(465,697)	(465,697)	(465,697)
Average mortgage servicing assets		(4,534)	(4,825)	(5,790)	(4,824)	(6,123)
Average tangible book value	(e)	$ 7,910,983	$ 7,599,460	$ 6,971,846	$ 7,638,094	$ 6,703,625
Return on average common equity2	(a)/(d)	17.44%	15.42%	15.99%	15.98%	16.24%
Return on average TCE2	(b)/(e)	18.48%	16.39%	17.08%	16.97%	17.40%
Adjusted return on average TCE2	(c)/(e)	18.23%	16.69%	16.63%	16.99%	17.37%

Applied statutory tax rate of 28.18% for the three and nine months ended September 30, 2025, and the three months ended June 30, 2025. Applied statutory tax rate of 29.56% for the three and nine months ended September 30, 2024.
Annualized.

‌Forward-Looking Statements and Additional Information

In this presentation, "we", "our", "us", "East West" and the "Company" refer to East West Bancorp, Inc., and its consolidated subsidiaries unless the context indicates otherwise.

Forward-Looking Statements

This presentation contains forward-looking statements that are intended to be covered by the safe harbor for such statements provided by the Private Securities Litigation Reform Act of 1995. These statements are based on the current assumptions, beliefs, estimates, and projections, many of which, by their nature, are inherently uncertain and beyond our control. You should not place undue reliance on these statements. There are various important factors that could cause the Company's future results to differ materially from historical performance and any forward-looking statements, including the factors described in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2024 and in its subsequent Quarterly Reports on Form 10-Q. When considering these forward-looking statements, you should keep in mind these risks and uncertainties, as well as any cautionary statements the Company may make. These statements speak only as of the date they are made and are based only on information then actually known to the Company. The Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking statements, whether written or oral, except as required by law.

Basis of Presentation

The preparation of the Company's consolidated financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, income and expenses during the reporting periods, and the related disclosures. Although our estimates consider current conditions and how we expect them to change in the future, it is reasonably possible that actual results could be materially different from those estimates. Hence, the current period's results of operations are not necessarily indicative of results that may be expected for any future interim period or for the year as a whole. Certain prior period information have been reclassified to conform to the current presentation.

Industry Information

This presentation includes statistical and other industry and market data that we obtained from government reports and other third-party sources. Although we believe that this information is accurate and reliable, we have not independently verified such information. Forward-looking information that we have obtained from these sources is subject to the same uncertainties and qualifications as other forward-looking statements contained herein.

Non-GAAP Financial Measures

Certain financial information in this presentation has not been prepared in accordance with GAAP and is presented on a non-GAAP basis. Investors should refer to the reconciliations included in the appendix to this presentation and should consider the Company's non-GAAP measures in addition to, not as a substitute for or superior to, measures prepared in accordance with GAAP. These measures may not be comparable to similarly titled measures used by other companies.