2026 Q2 Earnings Call Presentation

&Eastern Bankshares, Inc.

Highlights

Key Metrics

Net income

Operating net income*

Diluted EPS Diluted operating EPS*

NIM (FTE)* Total deposit cost

NPLs / total loans NCOs / avg. loans

Dividend declared

BV/Share TBV/Share*

*Non-GAAP Financial Measure.

Results reflect Company's enhanced earnings power

• Operating income increased 20% linked quarter and generated an operating return on average tangible common equity of 15.3%

• Net interest margin (FTE) expanded 3 basis points to 3.66%, due to higher asset yields

• Positive operating leverage, driven by growth in both net interest income and fee revenues combined with lower expenses, resulting in an operating efficiency ratio of 49.0%

• Annualized growth in tangible book value per share of 7%

  Strong organic growth across banking and fee businesses

• Period-end loans grew 1.4% linked quarter, driven by strong C&I lending results

• Deposit balance ended the quarter up 3.2%, due to seasonal municipal inflows and broad-based growth across business lines

• Wealth assets increased to another record high of $11.5 billion, including $10.6 billion of assets under management

  Excellent asset quality

• Non-performing loans decreased $28.3 million to $109.4 million, or 0.47% of total loans

• Robust reserves: allowance for loan losses of $325.4 million, or 1.40% of total loans

  Significant capital return

• Total capital returned to shareholders of $105.8 million, including $72.7 million in share repurchases

• Announced 5% repurchase authorization 2

  Income statement

  $ in millions, except per share amounts	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025
  Net interest income	$ 251.9	$ 244.7	$ 237.4	$ 200.2	$ 202.0
  Noninterest income	57.6	43.6	46.1	41.3	42.9
  Total revenue	309.5	288.3	283.5	241.5	244.9
  Noninterest expense	167.9	198.6	189.4	140.4	137.0
  Pre-tax, pre-provision income	141.6	89.6	94.1	101.1	107.9
  Provision for allowance for loan losses	6.8	5.8	4.9	7.1	7.6
  Pre-tax income	134.8	83.8	89.2	94.0	100.3
  Income tax expense (benefit)	29.6	18.5	(10.3)	(12.1)	0.1
  Net income	$ 105.2	$ 65.3	$ 99.5	$ 106.1	$ 100.2
  Operating net income*	$ 106.5	$ 88.6	$ 94.7	$ 74.1	$ 81.7
  EPS	$ 0.48	$ 0.29	$ 0.46	$ 0.53	$ 0.50
  Operating EPS*	$ 0.49	$ 0.40	$ 0.44	$ 0.37	$ 0.41
  ROA	1.37 %	0.86 % 1.36 % 1.66 % 1.60 %
  Operating ROA*	1.38 %	1.17 % 1.30 % 1.16 % 1.30 %
  ROATCE*1	15.2 %	9.8 % 14.4 % 16.4 % 16.4 %
  Operating ROATCE*1	15.3 %	12.8 % 13.8 % 11.7 % 13.6 %
  Efficiency ratio	54.3 %	68.9 % 66.8 % 58.2 % 55.9 %
  Operating efficiency ratio*1	49.0 %	52.8 % 50.1 % 52.8 % 50.8 %

  • Operating net income increased 20% linked quarter and 30% from a year ago, reflecting the enhanced earnings power of the Company

  • Net interest income included net discount accretion of $19.7 million, compared to $19.5 million in Q1 2026

  • Noninterest income included a non-operating loss of $0.3 million. On an operating basis, noninterest income was $57.9 million, an increase of $12.8 million or 28% linked quarter

  • Noninterest expense included $1.6 million of non-operating costs. On an operating basis, noninterest expense was $166.4 million, a decrease of $1.5 million or 1% linked quarter

*Non-GAAP Financial Measure. 1Excludes amortization of intangible assets, in addition to non-GAAP adjustments made to operating net income. 3

             Operating         EPS                              

$0.41

$0.44

$0.37

$0.40

$0.49

Operating efficiency ratio1

52.8% 52.8%

50.8%

50.1%

49.0%

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

           Operating         ROA                              

1.30%

1.30%

1.16% 1.17%

1.38%

Operating ROATCE1

15.3%

13.6%

13.8%

12.8%

11.7%

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

1Excludes amortization of intangible assets, in addition to non-GAAP adjustments made to operating net income. 4

Earning assets                                                                                 QoQ changes in FTE net interest income*        

Change

Avg. Balance Yield1

$ 10 — %

(39) 0.22 %

30 0.03 %

2 0.05 %

216 0.07 %

74 0.30 %

$250.8 $6.6 $3.9

3.63%

3.66%

$(2.6) $(0.5)

$258.2

292 0.04 %

Q1 2026 Loans Inv. &

cash

Deposits Borrowings Q2 2026

Funding sources                                                                             FTE net interest income and margin trend    

$206.8 $205.4

$243.4 $250.8

$258.2

3.59%

3.47%

3.61%

3.63%

3.66%

$ in millions. *Non-GAAP Financial Measure. 1Presented on a fully tax equivalent basis.

208 0.02 %

105

265 0.01 %

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

NII - FTE NIM - FTE

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OEastern Bnnksluares, Inc.

• Operating noninterest income increased

  $12.8 million or 28% linked quarter primarily due to the following:

  • Income from investments for employee retirement benefits increased $8.9 million due to stronger equity market performance

higher loan volumes

Miscellaneous income and fees increased $0.7 million primarily from a higher gain on sale of commercial loans

$ in millions. *Non-GAAP Financial Measure.6

  Assets  under  management  (AUM)            

$9,608

$9,785

$9,233

$8,718

$10,616

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

                                     Fees                                        

    Continued              momentum                        

• Wealth assets increased to a record high of $11.5 billion, including approximately $10.6 billion of AUM

• Deepening alignment between Wealth and Banking businesses, driving more new business opportunities

• Fees increased approximately 8% linked quarter due to higher assets and seasonal tax preparation fees; AUM fees as a percentage of AUM: ~70 bps

         AUM          asset          allocation                        

  $18.6

  $18.3

  $17.3

  $17.6

  44%

  41%

  41%

  40%

  34%

  $19.7

6%3%

29%

62%

$ in millions.

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Fees Fees as a % of total operating noninterest income

Equity Fixed Income Cash Other

7

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Noninterest expense Operating noninterest expense

• Total noninterest expense decreased $30.7 million, or 15% linked quarter due to lower non-operating and operating expenses

• Non-operating expense decreased $29.2 million, largely driven by lower merger-related costs

  	Q2 2026	Q1 2026	Q2 2025	QoQ	YoY
  Salaries & employee benefits	$ 97.0	$ 102.2	$ 80.7	$ (5.2) $ 16.3
  Technology & data processing	23.7	23.8	18.4	(0.1) 5.3
  Occupancy & equipment	13.2	14.1	11.2	(0.9) 2.0
  Professional services	5.7	3.4	3.0	2.3 2.7
  FDIC Insurance	3.7	3.4	3.8	0.3 (0.1)
  Marketing expenses	3.1	2.7	2.4	0.4 0.7
  Amortization of intangible assets	11.6	11.6	7.8	— 3.8
  Other operating expense	8.2	6.6	7.0	1.6 1.2
  Non-operating expense	1.6	30.8	2.6	(29.2) (1.0)
  Total noninterest expense	$ 167.9	$ 198.6	$ 137.0	$ (30.7)	$ 30.9
  Total operating noninterest expense*	$ 166.4	$ 167.9	$ 134.4	$ (1.5)	$ 32.0

• Operating expense decreased $1.5 million, or 1% linked quarter

  • Decreases in salaries & benefits of $5.2 million and occupancy & equipment of

    $0.9 million, primarily reflect cost synergies achieved following the HarborOne core system conversion

  • Increase in professional services of $2.3 million, primarily related to shareholder advisory fees

  • Increase in other operating expense of $1.6 million, primarily driven by a higher provision for unfunded commitments due to growth in off balance sheet commitments

8

$ in millions. *Non-GAAP Financial Measure.

       Period-end                  balances                                  

$25,471 $25,105 $25,919

$21,221

$21,117

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

   High   quality,   low   cost   portfolio                          

• Balances increased $814 million, or 3.2%, linked quarter due to seasonal municipal inflows and broad-based growth across business lines

• Targeted actions to appropriately position offerings to defend and grow share resulted in upward pressure on deposit costs

• Total cost of deposits increased 1 basis point to 1.47%

• While the deposit environment remains competitive, we are committed to balancing growth with margin performance

  Cost of deposits                                                                                                                                       Deposit composition                                    

  Interest-bearing deposit cost Total deposit cost

  2.03%

  2.11%

  2.13%

  1.94%

  1.96%

  1.48%

  1.55%

  1.59%

  1.46%

  1.47%

  Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

  $ in millions.

  CD

  Savings MMDA

  Checking

  	15%		15%		18%		16%		17%
  	8%		7%		8%		9%		8%
  	28%		30%		31%		31%		32%
  	49%		47%
  					43%		44%		43%

  Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

  9

  Loans

                 Period-end          balances                                  

  $23,574		$23,388		$23,713
  $2,034		$2,024		$2,083
  $5,516 $5,467				$5,442	driven by broad-based activity

  • Period-end loans increased $325 million, or 1.4%, linked quarter

  • C&I continued to grow as balances were up $317 million,

  Total commercial Residential real estate Total Consumer

       Diversified,        high-performing        portfolio                  

  $18,590 $18,829

  $1,723

  $4,016

  $1,767

  $4,011

  $16,025

  $16,188

  $12,850

  $13,051

  $15,897

  Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

             Total              loan              yield                                        

  • Consumer increased $59 million, due to higher HELOC balances

  • CRE was down $85 million, primarily due to payoffs

• Commercial loan pipelines finished June at a record quarter-end level of nearly $1 billion

         Commercial     loan     composition                          

  10%

  4%

  27%

  59%

  5.45%

  5.55%

  5.35%

  5.40%

  5.45%

  Commercial and industrial Commercial real estate

  Commercial construction Business banking

  Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

  $ in millions. Charts may not foot due to rounding

  10

  Securities

  Period-end balances1  High quality portfolio                                  

  AFS securities HTM securities

  									$764
  	$499		$514		$600		$713
  	$4,284		$4,155		$4,143		$4,201		$4,400

  $4,783 $4,669 $4,743 $4,914 $5,165

  Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

  • 93% in U.S. agency securities and treasury bonds

  • Securities yield of 3.25% in Q2 2026, up 7 basis points from Q1 2026, supported by recent purchases

  • AFS unrealized loss was $286 million after tax, compared to $277 million at March 31, 2026

    Securities yield2 Portfolio composition1

    Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

    29%

    6% 1%

    1%

    63%

    Agency RMBS Agency CMBS Treasuries Munis Corporate Debt

    11

    $ in millions. 1Includes both AFS and HTM portfolios at amortized cost. 2Presented on a fully tax equivalent basis.

    3.25%

    3.18%

    3.02%

    3.03%

    3.04%

    Capital1

    OEastern Bnnksluares, Inc.

    Metrics	6/30/2026	3/31/2026	12/31/2025	9/30/2025	6/30/2025
    Tier 1 leverage ratio	10.9%	11.0%	11.7%	12.3%	12.1%
    Common equity tier 1 ratio	13.0%	13.2%	13.2%	14.7%	14.4%
    Tier 1 capital ratio	13.0%	13.2%	13.2%	14.7%	14.4%
    Total risk-based capital ratio	14.0%	14.2%	14.3%	15.8%	15.5%
    Tangible common equity ratio*	10.1%	10.2%	10.4%	11.4%	10.8%
    Tangible book value per share*	$13.13	$12.90	$12.90	$13.14	$12.53

    Strong capital position

    • Provides significant support for capital deployment strategies

      Committed to returning capital to shareholders

    • Returned $105.8 million in capital during Q2 2026

      • $72.7 million in share repurchases & $33.1 million in cash dividends

    • Announced 5% repurchase program authorization and declared quarterly cash dividend of $0.15 payable on September 22, 2026

*Non-GAAP Financial Measure. 1Regulatory capital ratios as of June 30, 2026 are preliminary estimates.

Rightsizing capital

• Capital deployment strategies: organic growth within existing footprint, consistent share repurchases, and prudently grow quarterly dividend

  Managing towards peer median CET1 ratio (~12.0%)

• Driven by a consistent return of capital through share repurchases and quarterly cash dividends

  12

  Asset quality

  Non-performing loans1

       Asset        quality        remains        strong                

0.30% 0.37%

0.75% 0.60% 0.47%

• Non-performing loans improved, as expected, for second consecutive quarter following HarborOne merger

  $172

  $94

  $55

$138

$86

$109

• Commercial: $80.8 million

  $44

• Residential: $21.9 million

• Consumer: $6.6 million

• Provision for loan losses: $6.8 million vs. $5.8 million in Q1 2026

  Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

  Eastern Legacy HarborOne NPL (%)

               Net                    charge-offs                                  

• Robust reserves: allowance for loan losses of $325.4 million or 1.40% of total loans

Commercial criticized & classified loans1

0.13% 0.18% 0.17% 0.17%

—%

3.60%

$321

$370 $425

$10

$3

$7

$10

$10

$9

$1

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Eastern Legacy HarborOne NCOs / Avg. loans (%)

$ in millions. 1Amortized cost basis

Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

Eastern Legacy HarborOne Criticized & Classified (%)

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OEastern Bnnksluares, Inc.

Full Year 2026 Outlook

flDEnsterr› BanlInc.

                                       Composition                                        

   Non-performing          CRE            loans                            

1.3% 1.1%

• CRE portfolio of $9.4 billion, or 40% of total loans

• Non-owner occupied CRE to total risk-based capital ratio2 of 243%

• Composed of diversified property types

  • Multi-family3 is the largest segment, representing 34% of total CRE and the Eastern legacy portfolio has not had any charge-offs in the past 10+ years

• Weighted average LTV at origination: low-to-mid 50%

• 97% of properties are in New England

• Criticized & classified4: $550 million or 5.9% of total CRE loans, compared to $547 million or 5.8% in prior quarter

  Eastern legacy HarborOne

  NPL (%)

  0.4% 0.6%

  $121

  0.8%

  • Non-performing loans: $73 million, or 0.8% of total CRE loans, compared to $98 million, or 1.1% in prior quarter

    $98

    $73

    $75

    $25

    $44

    $13

$23

• 82% of loans mature in 2028 or later

• See slide 17 for CRE investor office exposure

  Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026

  $ in millions. 1CRE exposure excludes Construction and Business Banking except for the NOO CRE to total RBC ratio. 2NOO CRE to total RBC ratio in Q2 2026 is estimated.

  3Excludes affordable housing loans. 4Amortized cost basis

  16

  CRE investor office exposure1

  2Q26 3Q26 4Q26 1Q27

             Maturity                      schedule                                      

Accruing $ 36 $ 42 $ 61 $51

Non-accruing — — — —

Total $ 36 $ 42 $ 61 $51

     Risk    segment    and    location                              

• CRE investor office loans: $1.0 billion, or 4% of total loans

  • Includes Company's lab/life science exposure:

    $99 million in balances or <1% of total loans. All loans accruing

• Weighted average LTV: 53% at origination

  8%

  Lab/Life Science 10%

  Mixed Use 37%

  Medical

  Office 45%

  NH/RI/CT 13%

  Boston/ Cambridge 25%

  MA suburban 62%

  • Maturities proactively managed: 8% in 2026, 17% in

    2027, 15% in 2028, and 60% in 2029 or later

  • 100% in New England and 75% in suburban areas

  • Criticized or classified3: $150 million, or 14% of CRE investor office loans

    Average Criticized & Balance loan size Classified3

    NPL

    Specific reserve

                                           Classification                                          

    5

Class A2 $ 66 $ 22 $ 44 $ — $8

• Adequately reserved: $55 million, or 5% of CRE investor office, including specific reserves of $31 million

  Class B/C

  106 7 23

• Thorough ongoing risk-based reviews on the office

Total  $      1,004  $          5  $        150  $          7  $          31  

portfolio

$ in millions. 1 CRE investor office exposure excludes construction and Business Banking. 2Class A defined as high-rise institutional quality buildings in Boston/Cambridge.

3Amortized cost basis

17

18

$ in millions. Rows & columns may not foot due to rounding. 1Presented on a non-fully tax equivalent basis.

OEastern Bnnksluares, Inc.

*Denotes a non-GAAP financial measure used in the document.

In this presentation, the Company may refer to some non-GAAP financial measures. For a reconciliation of these measures to the most comparable GAAP measures, refer to the press release that the Company has made available in connection with this presentation and the most recent annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) as updated by our subsequent periodic filings with the SEC. See investor.easternbank.com.

A non-GAAP financial measure is defined as a numerical measure of the Company’s historical or future financial performance, financial position or cash flows that excludes (or includes) amounts, or is subject to adjustments that have the effect of excluding (or including) amounts that are included in the most directly comparable measure calculated and presented in accordance with accounting principles generally accepted in the United States (“GAAP”) in the Company’s statement of income, balance sheet or statement of cash flows (or equivalent statements).

The Company presents non-GAAP financial measures, which management uses to evaluate the Company’s performance, and which exclude the effects of certain transactions that management believes are unrelated to its core business and are therefore not necessarily indicative of its current performance or financial position. Management believes excluding these items facilitates greater visibility for investors into the Company’s core business as well as underlying trends that may, to some extent, be obscured by inclusion of such items in the corresponding GAAP financial measures.

There are items in the Company’s financial statements that impact its financial results, but which management believes are unrelated to the Company’s core business. Accordingly, the Company presents noninterest income on an operating basis, total operating revenue, noninterest expense on an operating basis, operating net income, operating earnings per share, operating return on average assets, operating return on average shareholders’ equity, operating return on average tangible shareholders’ equity (discussed further below), and the operating efficiency ratio. Each of these figures excludes the impact of such applicable items because management believes such exclusion can provide greater visibility into the Company’s core business and underlying trends. Such items that management does not consider to be core to the Company’s business include (i) gains and losses on sales of securities available for sale, net, (ii) gains and losses on the sale of other assets, (iii) impairment charges on tax credit investments and associated tax credit benefits, (iv) other real estate owned (“OREO”) gains, (v) merger and acquisition expenses, (vi) certain discrete tax items, and (vii) expenses associated with staffing reorganization. Return on average tangible shareholders’ equity, operating return on average tangible shareholders’ equity as well as the operating efficiency ratio also further exclude the effect of amortization of intangible assets.

19

OEastern Bnnksluares, Inc.

Management also presents tangible assets, tangible shareholders’ equity, average tangible shareholders’ equity, tangible book value per share, the ratio of tangible shareholders’ equity to tangible assets, return on average tangible shareholders’ equity, and operating return on average shareholders’ equity (discussed further above), each of which excludes the impact of goodwill and other intangible assets and in the case of tangible net income (loss), return on average tangible shareholders’ equity and operating return on average tangible shareholders’ equity excludes the after-tax impact of amortization of intangible assets, as management believes these financial measures provide investors with the ability to further assess the Company’s performance, identify trends in its core business and provide a comparison of its capital adequacy to other companies. The Company includes the tangible ratios because management believes that investors may find it useful to have access to the same analytical tools used by management to assess performance and identify trends.

These non-GAAP financial measures presented in this presentation should not be considered an alternative or substitute for financial results or measures determined in accordance with GAAP or as an indication of the Company’s cash flows from operating activities, a measure of its liquidity position or an indication of funds available for its cash needs. An item which management considers to be non-core and excludes when computing these non-GAAP measures can be of substantial importance to the Company’s results for any particular period. In addition, management’s methodology for calculating non-GAAP financial measures may differ from the methodologies employed by other banking companies to calculate the same or similar performance measures, and accordingly, the Company’s reported non-GAAP financial measures may not be comparable to the same or similar performance measures reported by other banking companies.

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