Salisbury Bancorp : Investor Presentation Q2 2023

1

2Q 2023

Investor

Presentation

NASDAQ: SAL

2

Investor Information

Richard J. Cantele, Jr.	Peter Albero	Shelly L. Humeston
President	Executive Vice President	Senior Vice President
Chief Executive Officer	Chief Financial Officer	Secretary
[e-mail]	[e-mail]	[e-mail]
860-453-3430	860-453-3440	860-453-3432

Forward-Looking Statements

This Investor Presentation contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements about NBT Bancorp Inc. (NBT) NBT and Salisbury and their industry involve substantial risks and uncertainties. Statements other than statements of current or historical fact, including statements regarding NBT's or Salisbury's future financial condition, results of operations, business plans, liquidity, cash flows, projected costs, and the impact of any laws or regulations applicable to NBT or Salisbury, are forward-looking statements. Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "intends," "plans," "projects," "may," "will," "should" and other similar expressions are intended to identify these forward-looking statements. Such statements are subject to factors that could cause actual results to differ materially from anticipated results.

Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements include, but are not limited to the following: (1) the businesses of NBT and Salisbury may not be combined successfully, or such combination may take longer to accomplish than expected; (2) the cost savings from the merger may not be fully realized or may take longer to realize than expected; (3) operating costs, customer loss and business disruption following the merger, including adverse effects on relationships with employees, may be greater than expected; (4) the possibility that the merger may be more expensive to complete than anticipated, including as a result of unexpected factors or events; (5) diversion of management's attention from ongoing business operations and opportunities; (6) the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or at all or to successfully integrate Salisbury's operations and those of NBT; (7) such integration may be more difficult, time consuming or costly than expected; (8) revenues following the proposed transaction may be lower than expected; (9) NBT's and Salisbury's success in executing their respective business plans and strategies and managing the risks involved in the foregoing; (10) the dilution caused by NBT's issuance of additional shares of its capital stock in connection with the proposed transaction; (11) changes in general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; (12) legislative and regulatory changes; and (13) uncertainty as to the extent of the duration, scope, and impacts of the COVID-19 pandemic on NBT, Salisbury and the proposed transaction. Further information about these and other relevant risks and uncertainties may be found in NBT's and Salisbury's respective Annual Reports on Form 10-K for the fiscal year ended December 31, 2022 and in subsequent filings with the Securities and Exchange Commission ("SEC").

3

Forward-Looking Statements Continued

Forward-looking statements speak only as of the date they are made. NBT and Salisbury do not undertake, and specifically disclaims any obligation, to publicly release the result of any revisions which may be made to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements. You are cautioned not to place undue reliance on these forward-looking statements.

Additional Information and Where to Find It

Salisbury Bancorp, Inc. and NBT Bancorp Inc. entered into a definitive merger agreement on December 5, 2022. This transaction is expected to close on August 11, 2023, subject to the satisfaction of customary closing conditions. In connection with the proposed transaction, NBT has filed with the Securities and Exchange Commission ("SEC") a registration statement on Form S-4 that includes a proxy statement of Salisbury that also constitutes a prospectus of NBT (the "proxy statement/prospectus"), which proxy statement/prospectus was mailed or otherwise disseminated to Salisbury's shareholders on or about March 7, 2023. NBT and Salisbury also plan to file other relevant documents with the SEC regarding the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT

ON FORM S-4, THE PROXY STATEMENT/PROSPECTUS TO BE INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4, AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT NBT, SALISBURY AND THE PROPOSED TRANSACTION. You may obtain a free copy of the registration statement, including the proxy statement/prospectus (when it becomes available) and other relevant documents filed by NBT and Salisbury with the SEC, without charge, at the SEC's website at www.sec.gov. Copies of the documents filed by NBT with the SEC will be available free of charge on NBT's website at www.nbtbancorp.com or by directing a request to NBT Bancorp Inc., 52 South Broad Street, Norwich, NY 13815, attention: Corporate Secretary, telephone [phone].Copies of the documents filed by Salisbury with the SEC will be available free of charge on Salisbury's website at www.salisburybank.com or by directing a request to Salisbury Bancorp, Inc., 5 Bissell Street, P.O. Box 1868, Lakeville, CT 06039- 1868, attention: Secretary, telephone [phone].

No Offer

This Investor Presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.

Corporate Overview	4

• Full service community banking institution offering consumer and business banking products and services as well as trust and wealth advisory services with roots dating back to 1848
• Operating footprint includes 14 banking locations in Litchfield County, CT; Berkshire County, MA; and Dutchess County, Orange County, and Ulster County, NY ("Operating Counties")
• Franchise extends to within 50 miles of New York City

Key Statistics		Branch Footprint
(as of June 30, 2023)
Total Assets ($000)	1,558,336
Net Loans ($000)	1,237,511
Total Deposits ($000)	1,359,950
Total Shareholder's Equity ($000)	133,065
Tangible Book Value per Common Share ($)	20.51
Wealth Assets Under Administration ($000)	1,349,827
2Q 2023 Net Income ($000)	3,405
2Q 2023 Year-To-Date Net Income ($000)	6,423
FTEs	163
Gross Loans / Deposits (%)	92.1
ALLL / Gross Loans, ex PPP (%)	1.24
Total Risk-Based Capital Ratio (%)	13.66
Tier One Capital Ratio (%)	12.41
Tangible Common Equity to Tangible Assets (%)	7.71

•Retail / Business Deposits •Electronic Banking Services:

• Mobile
• Debit/Credit Card
• Remote Deposit Capture •Cash Management •Merchant/Payroll Services

•Investment Management

•Trust & Estate Services

•Financial Planning

•Private Banking

•Custodial Services

Core Businesses	5

•Business Loans

•Commercial Mortgages

•Lines of Credit

•Construction Loans

Retail /	Business
Business
Lending
Banking

Trust &	Retail
Wealth
Lending
Advisory

•Mortgage Loans

•Home Equity Loans

•Consumer Loans

•Construction Loans