Univest Financial : Investor Presentation

Investor Presentation

August 16, 2023

Safe Harbor Statement

Cautionary Note Regarding Forward-Looking Statements

The information contained in this report may contain forward-looking statements. When used or incorporated by reference in disclosure documents, the words "believe" "anticipate," "estimate," "expect," "project," "target," "goal" and similar expressions are intended to identify forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements may include but are not limited to: statements of our goals, intentions and expectations; statements regarding our business plans, prospects, growth and operating strategies; statements regarding the quality of our loan and investment portfolios; and estimates of our risks and future costs and benefits. These forward-looking statements are based on current beliefs and expectations of our management and are subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, these forward-looking statements are subject to certain risks, uncertainties and assumptions, including but not limited to those set forth below:

• Operating, legal and regulatory risks;
• Economic, political and competitive forces;
• General economic conditions, either nationally or in our market areas, that are worse than expected included as a result of employment levels and labor shortages, and the effect of inflation, a potential recession or slowed economic growth caused by supply chain disruptions or otherwise;
• Legislative, regulatory and accounting changes, including increased assessments by the Federal Deposit Insurance Corporation;
• Monetary and fiscal policies of the U.S. government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System;
• Demand for our financial products and services in our market area;
• Major catastrophes such as earthquakes, floods or other natural or human disasters and infectious disease outbreaks, the related disruption to local, regional and global economic activity and financial markets, and the impact that any of the foregoing may have on us and our customers and other constituencies;
• Inflation or volatility in interest rates that reduce our margins and yields, the fair value of financial instruments or our level of loan originations or prepayments on loans we have made and make;
• Fluctuations in real estate values in our market area;
• A failure to maintain adequate levels of capital and liquidity to support our operations;
• The composition and credit quality of our loan and investment portfolios;
• Changes in the level and direction of loan delinquencies, classified and criticized loans and charge-offs and changes in estimates of the adequacy of the allowance for credit losses;
• Changes in the economic assumptions utilized to calculate the allowance for credit losses;
• Our ability to access cost-effective funding;
• Changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio;
• Our ability to implement our business strategies;
• Our ability to manage market risk, credit risk and operational risk;
• Timing and amount of revenue and expenditures;
• Adverse changes in the securities markets;
• The impact of any military conflict, terrorist act or other geopolitical acts;

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Safe Harbor Statement (cont'd)

Cautionary Note Regarding Forward-Looking Statements

• Our ability to enter new markets successfully and capitalize on growth opportunities;
• Competition for loans, deposits and employees;
• System failures or cyber-security breaches of our information technology infrastructure and those of our third-party service providers;
• The failure to maintain current technologies and/or to successfully implement future information technology enhancements;
• Our ability to retain key employees;
• Other risks and uncertainties, including those occurring in the U.S. and world financial systems; and
• The risk that our analysis of these risks and forces could be incorrect and/or that the strategies developed to address them could be unsuccessful.

Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, estimated, expected or projected. These forward-looking statements speak only as of the date of the report. Univest Financial Corporation (the Corporation) expressly disclaims any obligation to publicly release any updates or revisions to reflect any change in the Corporation's expectations with regard to any change in events, conditions or circumstances on which any such statement is based.

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Non-GAAP Financial Measures

This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America ("GAAP"). These non-GAAP measures include tangible common equity, core net interest income excluding PPP, core noninterest expense excluding purchase accounting ("PA"), core tax equivalent revenue, core pre-tax pre- provision income less net charge-offs("PTPP-NCO"), average assets excluding PPP, and average interest earning assets excluding excess liquidity and PPP. Management uses these "non-GAAP" measures in its analysis of the Corporation's performance. Management believes these non-GAAP financial measures allow for better comparability of period to period operating performance. Additionally, the Corporation believes this information is utilized by regulators and market analysts to evaluate a company's financial condition and therefore, such information is useful to investors. These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. A reconciliation of the non-GAAP measures used in this presentation to the most directly comparable GAAP measures is provided in the Appendix to this presentation.

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COMPANY OVERVIEW