First Busey : Busey 2025 Annual Report

About this update from First Busey Corporation

2025 ANNUAL REPORT DEAR FELLOW SHAREHOLDERS, At Busey, our solutions-based relationship banking strategy has long been focused on maintaining a fortress balance sheet-featuring exceptional credit quality, ample liquidity and a robust capital foundation-supported through organic growth within diversified revenue streams, disciplined credit practices and prudent expense management, and enhanced by highly selective, negotiated strategic acquisitions that propel our organization forward. Since we opened our doors in 1868, Busey has built a foundation of broad fin ncial capabilities , deep knowledge and close relationships that span generations-all with your peace of mind as our priority. We understand you have a vision for your future - and we are committed to helping you achieve your dreams. Guided by experience that has withstood the test of time, our experts will help you build your best future with powerful insights and proven strategies. Building Business. Growing Wealth. Connecting Communities. Since 1868. It's a proven, conservative approach that provides quality, consistent returns to the Pillars of our organization-our associates, clients, communities and you, our shareholders. While this operational approach has not and will not change, the prospect for even greater profitability and growth for our company and its Pillars has. With the successful acquisition and integration of CrossFirst Bank-completed in June 2025-we are well-positioned and prepared to capitalize on the organic growth opportunities this business combination provides to transform the future of our organization. As we look back on 2025 and ahead to the remainder of 2026 and beyond, I am proud to share Busey's perspectives, accomplishments and future outlook with you, our valued shareholders, as you continue placing your trust and confidence in our organization. It is with sincere appreciation that I thank you for your continued support. Busey leaders and associates break ground at the new Busey Bank location in Rantoul, Illinois TRANSFORMATIONAL PARTNERSHIP Continuing a trend of successful, strategic partnerships that began more than a decade ago, First Busey Corporation completed the largest M&A transaction in company history with the acquisition of CrossFirst Bankshares, Inc. on March 1, 2025, followed by the successful integration of CrossFirst Bank with and into Busey Bank on June 20, 2025. Fully integrated and operating as One Busey, we now proudly serve clients from 80 locations across 10 states-Illinois, Indiana, Missouri, Kansas, Oklahoma, Texas, Colorado, New Mexico, Arizona and Florida. Led by a highly experienced management team, board of directors and nearly 2,000 dedicated associates, the franchise boasts combined total assets of approximately $18 billion, $15 billion in total deposits, $14 billion in total loans and nearly $16 billion in wealth assets under care. With a focus on relationship banking, the partnership paired Busey's scalable regional operating model, robust wealth management and other fee-based income capabilities with CrossFirst's attractive growth markets and strong commercial banking relationships. Further realization of increased returns and growth is highlighted by several key areas: Expansion in New High Growth Markets The acquisition brought Busey to the high-growth, large Metropolitan Statistical Areas (MSAs) of Kansas City, Dallas, Denver and Phoenix. It also added a presence for Busey in strong mid-sized MSAs such as Oklahoma City, Tulsa, Tucson, Colorado Springs and Wichita. Busey now has a presence in five of the top 25 MSAs in the U.S. These are dynamic markets for business growth with market GDP exceeding $3 trillion. Three new branches were recently opened with long-term plans for selectively building branch density in newly added markets: In April 2025, a second Oklahoma City location was opened at the Tower at Convergence in the heart of the Innovation District; In August 2025, a second Denver location was opened in the thriving Cherry Creek North neighborhood; and development on North Claret Drive. Busey Bank now serves clients from 80 locations across 10 states In February 2026, a new main market location in Scottsdale was opened in a high-profile Growth by Attracting and Retaining Talent Busey has demonstrated the continued ability to attract and retain top-tier talent driven by our premier culture, opportunities to drive new initiatives and our comprehensive product set. Since March 2025, we have added high-level talent throughout the organization-including our Chief Financial O cer , the President of Busey Bank , and 45-plus sales producers including: Busey Wealth Management Managing Directors in Dallas, Denver, Kansas City, Oklahoma City, Phoenix and Wichita; An Investment Portfolio Manager in Kansas City added to our high-quality investment team; Managing Directors of Commercial and Real Estate Banking; and an Executive Director of Syndications, Specialty Lending and Capital Markets. We also achieved a high retention rate for key legacy CrossFirst relationship managers that now have a greater breadth of solutions to offer clients, backed by Busey's fortress balance sheet. Bringing a Comprehensive Product Suite to Entirety of Client Base Busey works consistently to add value and grow services for existing clients, offering a full suite of solutions to support them through every stage of their personal and business lives. We are leveraging the power of our commercial and wealth management businesses to build relationships with well-capitalized individuals and the companies they own and operate. The legacy CrossFirst client base was particularly well-suited for Busey Wealth Management offerings. We built upon managing director hiring success by securing early wins in Western markets, with new accounts opened representing approximately $116 million of assets under care (AUC) by year-end 2025, and strong pipelines established for future success. We are combining payment solutions with our enhanced Treasury Management capabilities to deliver a full spectrum of payments expertise to our commercial clients. Our newly established presence in high-potential markets is creating momentum for new opportunities in our Busey Wealth Management and payments businesses, and we're confident that high-quality loan and deposit growth will follow. BUSINESS SEGMENT & CORPORATE UPDATE While heavily influenced by the thorough and successful acquisition and integration of CrossFirst with and into Busey, 2025 was also marked by continued periods of volatile economic friction, geopolitical tension, interest rate uncertainty and competitive pressures on the financial industry. Despite these challenges, Busey once again realized strong profitability and growth, producing solid returns for shareholders and building positive momentum for the near- and long-term. Organic growth through our One Busey delivery model remains a critically important focus. This strategic operating method brings together associates from different organizational backgrounds and with differing expertise-lending, wealth management, treasury management/payments, personal banking and more-to bring the full weight of Busey to every relationship for the betterment of our clients. We apply this holistic view of client relationships in our go-to-market strategy within Busey's scalable regional operating model-a region-based sales structure that brings a tailored experience and full capabilities to every client and community we serve. While other financial institutions have competing components by business segment, our regionally focused plan broadens the view for each line of business and increases collaboration. Incentives are fully aligned to promote a cohesive sales structure across all products and expertise is leveraged across teams because all associates share in Busey's success. In return, these business models produce diversified, sustainable revenue streams that provide a recurring balance to spread-based revenue from traditional banking activities, and have become a hallmark of our institution. Early returns on combining our go-to-market strategy with our expanding product set, experienced associate base and larger footprint within higher-growth markets have been encouraging. Our scalable wealth-led services continue to be an integral part of our model and story, with wealth assets under care continuing to grow substantially to $15.7 billion at the end of 2025, an increase of $1.8 billion year-over-year. The wealth management segment recorded $70.2 million of revenue in 2025-the highest in company history. Additionally, the wealth management segment remained highly profitable with a 45.3% pre-tax profit margin in 2025. Busey Wealth Management's expansion into new Western markets, coupled with the consistent go-to-market strategy of combining commercial banking and wealth services, will continue to facilitate holistic client-relationship growth. This unique combination of business segments and the strong performance of Busey Wealth Management's fully internalized Investment and Family Office services helped us retain and grow current client assets in-house while adding significant new client assets. Additionally, Busey's Treasury Management business contributed $17.3 million in noninterest income in 2025, a significant increase over 2024 due to the addition of CrossFirst's strong treasury management team and capabilities. Payment technology solutions added $20.0 million in noninterest income while focusing on three key competencies-integrated receivables, merchant services and online payments. In aggregate, wealth management, treasury management and payment technology solutions now combine to contribute nearly 70% of total adjusted noninterest income on a quarterly basis. In mid-2025, Busey implemented a balance sheet optimization strategy that resulted in total assets shrinking from approximately $20 billion at the closing of the CrossFirst acquisition on March 1 to just over $18 billion by year-end. This optimization strategy included targeted reductions of wholesale and other high-cost non-relationship deposits, while maintaining strict focus on ensuring new loan production would be driven by full relationships. This strategy produced a smaller, but more efficient balance sheet, resulting in substantial improvement of net interest margin, which increased to 3.71% in the fourth quarter of 2025 compared to 2.95% in fourth quarter of 2024. With the larger footprint in higher-growth markets, overall loan production is strong, and we expect improvement in loan growth later in 2026 as headwinds from elevated payoffs dissipate. We will continue to review loans within conservative credit parameters, seeking quality growth where both the pricing and underwriting are the right fit. Another critical value driver is the strength of our core deposit franchise, which-combined with strong asset quality and robust capital foundation-supports Busey's fortress balance sheet and enables continued organic growth, strategic acquisitions and strong returns. At year-end 2025, core deposits represented 93.7% of our total deposits, with 38% of those deposits priced at 1 basis point or less. As noted, our balance sheet optimization strategy targeted the runoff of high-cost brokered and non-relationship corporate deposits that were inherited with the CrossFirst acquisition, and with the optimization now complete, core deposit metrics have returned to nearly pre-acquisition levels. Leveraging our fortress balance sheet, regional operating model and unsurpassed dedication to service excellence, Busey has attracted new clients and deepened existing client relationships, as reflected in near across-the-board increases in Net Promoter Score (NPS®) results in 2025. A client experience metric and the global standard used across industries and organizations to gauge satisfaction and loyalty, NPS® allows companies to measure whether clients would recommend their organization to others. In 2025, Busey once again improved its corporate NPS® score to 66.2, a record-high annual mark for our organization and nearly five times the national industry average of 13.6. Busey Wealth Management, meanwhile, posted an impressive 84.9 score, nearly four times the national industry average of 23.4. Through exceptional service, strategic process improvements and investments in integrated technology platforms, we are serving clients more efficiently and effectively today than ever before and are positioned to continue to do so for years to come. Busey Bank location on Camelback Road in Phoenix, Arizona. EARNINGS, GROWTH AND CAPITAL STRENGTH year, Busey's quarterly adjusted noninterest income¹ represented 21.6% of operating revenue¹ in the fourth quarter of 2025, compared to 30.3% in fourth quarter of 2024. For the full-year, Busey's adjusted noninterest income¹ represented 22.0% of operating revenue¹ in 2025. The overall contribution of noninterest income to total revenue decreased with the integration of CrossFirst, as net interest income became a larger share of the total operating revenue with our substantial net interest margin increase and due to the fact that CrossFirst had limited fee-based business. However, Busey's current noninterest income share of total operating revenue remains above median compared to our peer group, and we anticipate it growing over time via expansion of client services and continued deployment of Busey Wealth Management and payment solutions into new As of December 31, 2025, our organization remained well-capitalized, with our Tangible Common Equity Ratio 1 at 10.1%, our Common Equity Tier 1 Capital Ratio at 12.4% and Total Capital Ratio at 15.9%. Internal capital generation was very strong in 2025 and we maintained significant excess capital as we embarked on a substantial share repurchase plan post-acquisition. We repurchased more than 3 million shares of our common stock (approximately 3% of total outstanding common shares) at a weighted average price of $22.81 per share for a total of $69.9 million returned to shareholders via repurchases during 2025. Our tangible book value per common share¹ was $20.23 at December 31, 2025, compared to $17.88 at December 31, 2024, an increase of 13%. We saw this substantial increase despite completing the largest acquisition in our bank's history-CrossFirst Bankshares-which was tangible book value accretive at financial close, a rare occurrence in the industry. We continue to accrete tangible book value at a more rapid pace than in prior years due to our enhanced earnings power after the acquisition of CrossFirst. Additionally, throughout 2025, Busey paid quarterly dividends of $0.25 per share on its outstanding shares of common stock. When including the dividend, tangible book value per share increased by 19% in 2025. In January 2026, the quarterly cash dividend was raised by 4% to $0.26 per common share outstanding. Busey's net income was $135.3 million for the year ended December 31, 2025, compared to $113.7 million for the year ended December 31, 2024. We paid $9.9 million in dividends to preferred shareholders during 2025, resulting in $125.4 million of net income available to common shareholders. Adjusted net income available to common shareholders¹, taking into account acquisition-related expenses and restructuring charges, was $215.1 million for the year ended December 31, 2025, or $2.53 per diluted common share, compared to $120.0 million for the year ended December 31, 2024, or $2.09 per diluted common share. Profitability significantly improved throughout 2025 with the addition of CrossFirst. Year-over-year adjusted return on average assets (ROAA)¹ increased to 1.41% in the fourth quarter of 2025 compared to 1.02% in the fourth quarter of 2024. Full-year adjusted ROAA¹ was 1.27% in 2025 compared to 1.00% in 2024. A big contributor to the enhanced returns has been the upward trajectory of the net interest margin. Year-over-year, quarterly net interest margin¹ grew to 3.71% in the fourth quarter of 2025 compared to 2.95% in the fourth quarter of 2024. Busey's full-year net interest margin¹ increased to 3.51% for 2025, compared to 2.95% in 2024. Net interest margin strengthened during the year due to balance sheet optimization initiatives, higher loan repricing dynamics and strong deposit cost control in the midst of the Federal Open Market Committee lowering the upper limit of the fed funds target range by 75 basis points during 2025. Our balance sheet is well-positioned for rate neutrality, and we continue to evaluate and execute asset liability management strategies as well as embedding rate protection in our asset originations to provide stabilization to net interest income in lower rate environments. As noted earlier, Busey's fee-based businesses continue to add revenue diversification. Year-over- Western markets. A majority of our noninterest income is generated by valuable and durable fee-based business from wealth management, treasury management, capital markets and payment solutions. Busey also remains committed to expense discipline and driving positive operating leverage for the company. In 2025, we saw an operating revenue increase of 59% and an adjusted noninterest expense increase of 44%, to produce positive operating leverage of +15%. The combination of two companies and accompanying consolidation of expenses over a larger asset base, along with increased income streams, resulted in significantly improved efficiency. Year-over-year, the quarterly adjusted efficiency ratio¹ was 55.1% in the fourth quarter of 2025 compared to 61.8% in the fourth quarter of 2024. The full-year adjusted efficiency ratio¹ was 55.8% for 2025 compared to 61.3% for 2024. Cost synergies from the CrossFirst acquisition progressed as expected, with 50% of the annual pre-tax cost savings estimate of $25.0 million realized during 2025 and 100% realization anticipated for 2026. (1) A non-GAAP financial measure, see Non-GAAP financial information in Busey's 2025 Annual Report on Form 10-K, filed with the SEC on February 26, 2026 (1) A non-GAAP financial measure, see Non-GAAP financial information in Busey's 2025 Annual Report on Form 10-K, filed with the SEC on February 26, 2026 LEADERSHIP In January 2026, we were pleased to name Tony Hammond as President of Busey Bank. Tony Hammond Executive Vice President, President, Busey Bank Tony brings two decades of banking experience and had served as Busey's President of Regional Banking since May 2025. Prior to joining Busey, he served as Executive Vice President and Head of Commercial and Middle Market Banking at Heartland Financial (HTLF). Additionally, he previously held senior leadership roles at Arizona Bank & Trust, Johnson Bank and BOK Financial, consistently leading high-performing teams and growing market share. Chris Chan Executive Vice President, Chief Financial Officer Following an extensive nationwide search, in September 2025, Busey named Chris Chan as Chief Financial Officer of First Busey Corporation. Chris possesses the strong corporate finance acumen, deep financial services industry expertise and drive for results necessary for our growing organization. Prior to joining Busey, From left: 1) Chip Jorstad, EVP, Chief Credit Officer, talks with Jamie Marlen , AVP, Commercial Relationship Manager, at the new Oklahoma City, Convergence Center Open House. 2) Martin O'Donnell EVP, President of Regional Banking, shakes hands with a client at the Rantoul, IL, groundbreaking. 3) Van Dukeman , Chairman & CEO, accepts the Banker of the Year award from the Illinois Bankers Association. Chris served as Executive Vice President and Chief Strategy Officer at First National Bank, responsible for leading strategic planning, investor relations and corporate development. Sadly, on December 27, 2025, the Busey family lost a true Pillar of our organization, as well as an amazing human being, leader and friend, with the passing of former Busey Director Dave Downey. Dave joined the Dave Downey Busey Director, 2007-2020 board of Bank of Illinois in 1992 before the company changed its name to BankIllinois and later merged with First Decatur Bank in 2000 to become Main Street Trust, Inc. In 2007, Main Street and Busey came together in a merger of equals, and Dave remained as a director of Busey until his retirement in 2020. He also served as president of The Downey Group, Inc., an estate planning, wealth transfer and executive compensation organization, since 1963. Dave and his wife, Jane, also embraced the spirit of service to community and charitable causes, making major philanthropic contributions to a host of central Illinois charitable, educational and athletic organizations. Finally, we were saddened to learn of the passing of Don Monteith on February, 2, 2025. A passionate banker for more than 40 years, Don was an influential executive and leader with Busey who had a tremendous impact on the growth and success of the organization. Losing Don and Dave were great losses on many fronts. They both will be sorely missed. Van A. Dukeman , Chairman & CEO FBC and Chairman & CEO Busey Bank (left), Amy Randolph , EVP, Chief Operating Officer (center), & Amy Fauss, EVP, Chief Information & Technology Officer (right). Fred Fellers, VP, Director, Commercial, and Jamie Marlen , AVP, Commercial Relationship Manager, talk with a client during the Oklahoma City grand opening celebration event. FUTURE OUTLOOK At Busey, we continue to focus on a conservative banking approach built through more than 158 years of disciplined growth and prudent expense, credit and risk management. Remaining true to this approach, the core tenets of our philosophy will not change now or in the future. Deepening Busey's client base, improving business operations, leveraging innovative and transformative technology, and developing and retaining the best and brightest directors, leaders and associates will continue to guide our vision and strategic initiatives. As a larger, more dynamic organization, we are firmly focused on supporting earnings expansion, profitability and organic growth. As we pursue business objectives, capitalize on opportunities and support our vision as a premier, top-tier regional provider of comprehensive banking and wealth management solutions, Busey will deliver unmatched service excellence to our clients and attractive profitability to our shareholders while preserving the core tenets of best- in-class balance sheet strength and strong corporate culture. SUMMARY The successful completion of the largest acquisition and integration in Busey's nearly 160-year history was an outstanding achievement and left us eager and energized for the future. That excitement was somewhat tempered by the loss of two former Busey leaders in 2025 who had tremendous impact on the success and growth of our company. I knew and worked closely with both Dave and Don and appreciate all the advice and counsel they provided to me personally. Looking forward, we remain cognizant of evolving industry trends, economic conditions and geopolitical impacts, as well as ever-changing regulatory scrutiny and competitive pressures. We are acutely focused on the path we have charted to preserve balance sheet strength, profitability and growth ... in that order. We are grateful for the opportunity to earn the business of our exceptional clients every day, which can only be achieved through the contributions of our talented associates and the continued confidence of you, our loyal shareholders. It is with sincere appreciation that I thank you for your sustained commitment and support. Van A. Dukeman, CFA First Busey Corporation Chairman & CEO ASSOCIATES THOUGHTFUL, HONEST FEEDBACK EARNED BUSEY TITLES OF: SINCE 2016 SINCE 2018 SINCE 2017 SINCE 2016 SINCE 2017 SINCE 2024 1,900 + ASSOCIATES with an average tenure of over 7 years $ 9.8 MILLION INVESTED in associate training & development since 2014 245 + INTERNAL PROMOTIONS recognized in 2025 Busey's vision of supporting and enhancing our associates' health, wellness and development is award-winning: Silver Well Workplace Award from Wellness Alliance Named a Healthiest Employer in Illinois, St. Louis and Florida by Healthiest Employers and Springbuk 50,000 + PERSONAL & PROFESSIONAL DEVELOPMENT TRAINING HOURS including program participation, leadership development and e-learning 500 + ISSUES OF BETWEEN THE LINES Busey's internal eNewsletter distributed since 2015 milli on IN ASSOCIATE CASH & HSA INCENTIVES $ 8 86 % ENGAGEMENT MISSION 1,474 MOMENTS SHARED by associates to express gratitude for their colleagues 50% NEARLY OF BUSEY ASSOCIATES are actively participating in programming designed to further develop their capabilities in Busey's B Well Health & Wellness Program in 2025 contributed since 2015 through B Well 2025 PROGRESS FOR OUR PILLARS THE BUSEY PROMISE TO OUR 4 PILLARS All relationships begin with the Busey Promise. We embrace and consistently fulfill the Busey Promise to our 4 Pillars-associates, clients, communities and shareholders . Using this as our guide, we embrace a strategy that stands the test of time and supports Busey's continued success. ASSOCIATES Through our determined, thoughtful, resilient and humble associates , we create a positive environment in which client-centricity and collaboration flourish. CLIENTS The individuals and organizations we serve are the core of everything Busey . While we operate multiple business lines, we serve our clients as One Busey-allowing us to anticipate and exceed their needs. COMMUNITIES Being a community financial services organization means being a good corporate neighbor-partnering for purpose and progress. Working together to bridge needs within our communities , we provide capital in multiple forms, including monetary contributions, financial guidance and energetic and committed volunteers. SHAREHOLDERS With the belief that long-term value is rooted in lower-risk financial practices, Busey promises our shareholders the highest level of organizational stewardship with sustained financial results and profitability they expect. To achieve a vision of service excellence, Busey works tirelessly to fulfill promises made to the Pillars of our organization. COMMUNITIES Launched in 2020, Busey Drives Generosity is a quarterly campaign encouraging associates and clients to give generously through donation drives across our footprint. In 2025, Busey collected and donated the following to local organizations : • 1,300+ pairs of socks 6,300+ school supplies 3,700+ boxes of bandages 2,200+ non-perishables $ 2.17 mil l ion IN CHARITABLE DONATIONS IN 2025 $ 325,000+ GIFTED DURING THE UNITED WAY corporate campaign in 2025 21,600+ VOLUNTEER HOURS served by associates to over 600 community organizations in 2025 226 ASSOCIATES actively commit to board service in their communities $ 395,000+ IN SCHOLARSHIPS and scholastic contributions $ 735,000+ RAISED SINCE 2015 through the Pay It Forward Fridays initiative since its inception in 2015 & $110,000+ contributed in 2025 alone Busey was named among America's Best Banks by Forbes for the fourth consecutive year. Busey was also included among Forbes ' list of Best-In-State Banks . The Community Banking Team offers over 150 proactive, focused events, including homeowner education workshops, fin ncial literacy seminars, credit education classes and rst-time homeowner events. In 2025, five new rotations of Busey's 1868 The Exhibition were launched, including two kids' collections. For each exhibit, Busey partners with a local nonprofit to showcase talent and creativity. Three issues of the Pillar magazine published annually. Countless educational articles in our blog, Money Matters , on busey.com . Associates, clients, communities and shareholders-the Pillars of Busey-truly shape the future of our organization. Through invaluable input, these Pillars help make the Busey organization remarkable! 80 BANKING CENTERS ACROSS A 10-STATE FOOTPRINT NEARLY 117,000 BUSEY DIGITAL BANKING USERS 37,000+ SURCHARGE-FREE MONEYPASS® ATMS Busey earned a corporate Net Promoter Score (NPS) of 66.2 in 2025, nearly 4 points higher than 2024 and significantly outperforming the industry average of 13.6. Busey Wealth Management, earned a NPS score of 84.9 in 2025, 2.6 points higher than 2024 and continues the multiyear, class-leading performance. This score is considerably above the industry average of 23.4 and over 50 points higher than the next investment firm NPS included in the Forrester report, a nationally recognized, independent publication regarding client experiences and likelihood to recommend brands to others. CLIENTS CORPORATE LEADERSHIP FIRST BUSEY CORPORATION & BUSEY BANK BOARD OF DIRECTORS Van A. Dukeman Chairman & CEO, First Busey Corporation Chairman & CEO, Busey Bank DIRECTOR SINCE 2007 Steven W. Caple DIRECTOR SINCE 2018 Karen M. Jensen DIRECTOR SINCE 2019 Stanley J. Bradshaw DIRECTOR SINCE 2016 Michael D. Cassens DIRECTOR SINCE 2019 Frederic L. Kenney DIRECTOR SINCE 2018 Rodney K. Brenneman DIRECTOR SINCE 2012 Jennifer M. Grigsby DIRECTOR SINCE 2013 Stephen V. King DIRECTOR SINCE 2013 First Busey Corporation's Board of Directors is charged with business oversight and monitoring the performance of the management team in executing business strategies and risk oversight. The Boards-First Busey Corporation and Busey Bank -include industry leaders from diverse backgrounds and areas of expertise. This structure provides strong leadership to all lines of business. Busey's approach to governance enables both the Executive Team and the Boards of Directors to succeed in building strong, sustainable financial performance-benefiting associates, clients, communities and shareholders. Kevin S. Rauckman DIRECTOR SINCE 2016 Scott A. Wehrli DIRECTOR SINCE 2025 Tiffany B. Whit DIRECTOR SINCE 2025 EXECUTIVE MANAGEMENT TEAM Van A. Dukeman Chairman & CEO, First Busey Corporation Chairman & CEO, Busey Bank Monica L. Bowe Christopher H.M. Chan Amy J. Fauss Executive Vice President, Executive Vice President, Executive Vice President, Chief Risk Officer, Chief Financial Officer, Chief Information & First Busey Corporation First Busey Corporation Technology Officer, First Busey Corporation T. Anthony Hammond Executive Vice President, President, Busey Bank Chip S. Jorstad Executive Vice President, Chief Credit Officer, First Busey Corporation John J. Powers Executive Vice President, General Counsel, First Busey Corporation Amy L. Randolph Executive Vice President, Chief Operating Officer, First Busey Corporation CORPORATE PROFILE As of December 31, 2025, First Busey Corporation (Nasdaq: BUSE) was an $18.1 billion financial holding company headquartered in Leawood, Kansas. Busey Bank, a wholly-owned bank subsidiary of First Busey Corporation headquartered in Champaign, Illinois, had total assets of $18.1 billion as of December 31, 2025. Busey Bank currently has 80 banking centers, with 21 in central Illinois markets, 17 in suburban Chicago markets, 20 in the St. Louis Metropolitan Statistical Area, four in the Dallas-Fort Worth Metropolitan Statistical Area, three in the Kansas City Metropolitan Statistical Area, three in southwest Florida, three in Oklahoma, three in Colorado, three in Arizona, one in Indianapolis, Indiana, one in Wichita, Kansas, and one in Clayton, New Mexico. More information about Busey Bank can be found at busey.com . Through Busey's Wealth Management division, the Company provides a full range of asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services to individuals, businesses, and foundations. Assets under care totaled $15.7 billion as of December 31, 2025. More information about Busey's Wealth Management services can be found at busey.com/wealth-management. Busey Bank's payments technology solutions specialize in the evolving financial technology needs of small and medium-sized businesses, highly regulated enterprise industries, and financial institutions. Busey provides comprehensive and innovative payment technology solutions, including online, mobile, and voice-recognition bill payments; money and data movement; merchant services; direct debit services; lockbox remittance processing for payments made by mail; and walk-in payments at retail agents. Additionally, Busey simplifies client workflows through integrations enabling support with billing, reconciliation, bill reminders, and treasury services. For the fourth consecutive year, Busey was named among Forbes' America's Best Banks in 2025. Forbes also recognized Busey as a Best-in-State Bank, based on rankings of client service, quality of financial advice, fee structures, ease of digital services, accessing help at branch locations and the degree of trust inspired. Busey was also named among the 2025 Best Banks to Work For by American Banker and the 2025 Best Places to Work in Money Management by Pensions and Investments . We are honored to be consistently recognized as an outstanding financial services organization with an engaged culture of integrity and commitment to community development. For more information about us, visit busey.com . SHAREHOLDER INFORMATION CORPORATE HEADQUARTERS First Busey Corporation 11440 Tomahawk Creek Parkway, Leawood, KS, 66211 217.365.4500 | busey.com ANNUAL MEETING The 2026 Annual Meeting of Shareholders of First Busey Corporation will be held virtually on Wednesday, May 20, 2026 , at 10:30 a.m. CDT and may be attended at www.virtual shareholdermeeting.com/BUSE2026 . Proxy materials can be accessed at https://www.proxyvote.com using your Control Number. FIRST BUSEY CORPORATION COMMON STOCK First Busey Corporation common stock is listed on the NASDAQ Global Select Market under the symbol BUSE. ANNUAL REPORT ON FORM 10-K A copy of the Annual Report on Form 10-K filed with the Securities and Exchange Commission can be found at busey.com . STOCK TRANSFER AGENT Computershare, P.O. Box 30170, College Station, TX 77842-3170. The transfer agent can be accessed at computershare.com/investor. SPECIAL NOTE CONCERNING FORWARD- LOOKING STATEMENTS This document may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to Busey's financial condition, results of operations, plans, objectives, future performance, and business. Forward-looking statements, which may be based upon beliefs, expectations and assumptions of Busey's management and on information currently available to management, are generally identifiable by the use of words such as "believe," "expect," "anticipate," "plan," "intend," "estimate," "may," "will," "would," "could," "should," "position," or other similar expressions. Additionally, all statements in this document, including forward-looking statements, speak only as of the date they are made, and Busey undertakes no obligation to update any statement in light of new information or future events. A number of factors, many of which are beyond Busey's ability to control or predict, could cause actual results to differ materially from those in any forward-looking statements. These factors include, among others, the following: (1) the strength of the local, state, national, and international economies and financial markets (including effects of inflationary pressures, the threat or implementation of tariffs, trade wars, and changes to immigration policy); (2) changes in, and the interpretation and prioritization of, local, state, and federal laws, regulations, and governmental policies (including those concerning Busey's general business); (3) the economic impact of any future terrorist threats or attacks, widespread disease or pandemics, military conflicts, acts of war or threats thereof, or other adverse external events that could cause economic deterioration or instability in credit markets (including Russia's invasion of Ukraine, the conflicts in the Middle East, and recent military activity in Venezuela); (4) unexpected results of acquisitions, including the acquisition of CrossFirst, which may include the failure to realize the anticipated benefits of the acquisitions and the possibility that the transaction and integration costs may be greater than anticipated; (5) the imposition of tariffs or other governmental policies impacting the value of products produced by Busey's commercial borrowers; (6) new or revised accounting policies and practices as may be adopted by state and federal regulatory banking agencies, the Financial Accounting Standards Board, the Securities and Exchange Commission, or the Public Company Accounting Oversight Board; (7) changes in interest rates and prepayment rates of Busey's assets (including the impact of sustained elevated interest rates); (8) increased competition in the financial services sector (including from non-bank competitors such as credit unions, private credit, and fintech companies) and the inability to attract new customers; (9) technological changes implemented by us and other parties, including our third-party vendors, which may have unforeseen consequences to us and our customers, including the development and implementation of tools incorporating artificial intelligence; (10) the loss of key executives or associates, talent shortages, and employee turnover; (11) unexpected outcomes and costs of existing or new litigation, investigations, or other legal proceedings, inquiries, and regulatory actions involving Busey (including with respect to Busey's Illinois franchise taxes); (12) fluctuations in the value of securities held in Busey's securities portfolio, including as a result of changes in interest rates; (13) credit risk and risk from concentrations (by type of borrower, geographic area, collateral, and industry), within Busey's loan portfolio and large loans to certain borrowers (including commercial real estate loans); (14) the concentration of large deposits from certain clients who have balances above current Federal Deposit Insurance Corporation insurance limits and may withdraw deposits to diversify their exposure; (15) the level of non-performing assets on Busey's balance sheets; (16) interruptions involving information technology and communications systems or third-party servicers; (17) breaches or failures of information security controls or cybersecurity-related incidents; (18) the economic impact on Busey and its customers of climate change, natural disasters, and exceptional weather occurrences such as tornadoes, hurricanes, floods, blizzards, and droughts; (19) the ability to successfully manage liquidity risk, which may increase dependence on non-core funding sources such as brokered deposits, and may negatively impact Busey's cost of funds; (20) the ability to maintain an adequate level of allowance for credit losses on loans; (21) the effectiveness of Busey's risk management framework; and (22) the ability of Busey to manage the risks associated with the foregoing. These risks and uncertainties should be considered in evaluating forward-looking statements and undue reliance should not be placed on such statements. Additional information concerning Busey and its business, including additional factors that could materially affect Busey's financial results, is included in Busey's filings with the Securities and Exchange Commission. A guest enjoys the new 2025 installation of artwork at the 1868 Exhibition Open House in Clayton, Missouri. FIRST BUSEY CORPORATION 11440 Tomahawk Creek Parkway, Leawood, KS, 66211 NASDAQ: BUSE Busey 2026 | All Rights Reserved 100 West University Avenue, Champaign, IL 61820 Member FDIC busey.com

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