Pacific Premier Bancorp (PPBI) 8-KPacific Premier Bancorp, Inc. Announces First Quarter 2023 Financial Results and a Quarterly Cash Dividend of $0.33 Per Share

Investor Presentation First Quarter 2023 April 27, 2023 Ronald J. Nicolas, Jr. Sr. EVP & Chief Financial Officer rnicolas@ppbi.com 949-864-8000 Steve Gardner Chairman, Chief Executive Officer, & President sgardner@ppbi.com 949-864-8000

 

2© 2023 Pacific Premier Bancorp, Inc. | All rights reserved FORWARD LOOKING STATEMENTS AND WHERE TO FIND MORE INFORMATION Forward Looking Statements This investor presentation contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding the financial condition, results of operations, business plans and the future performance of Pacific Premier Bancorp, Inc. (“PPBI” or the “Company”), including its wholly-owned subsidiary Pacific Premier Bank (“Pacific Premier” or the “Bank”). Words such as “anticipates,” “believes,” “estimates,” “expects,” “forecasts,” “intends,” “plans,” “projects,” “could,” “may,” “should,” “will” or other similar words and expressions are intended to identify these forward-looking statements. These forward-looking statements are based on PPBI’s current expectations and beliefs concerning future developments and their potential effects on the Company including, without limitation, plans, strategies and goals, and statements about the Company’s expectations regarding revenue and asset growth, financial performance and profitability, loan and deposit growth, yields and returns, loan diversification and credit management, stockholder value creation, capital management, tax rates and acquisitions we have made or may make. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Many possible events or factors could affect PPBI’s future financial results and performance and could cause actual results or performance to differ materially from anticipated results or performance. These risks and uncertainties include, but are not limited to, the following: the strength of the United States economy in general and the strength of the local economies in which we conduct operations; recent adverse developments in the banking industry highlighted by high-profile bank failures and the potential impact of such developments on customer confidence, liquidity and regulatory responses to these developments; the effects of, and changes in, our ability to attract and retain deposits and access to other sources of liquidity; trade, monetary and fiscal policies and laws, including interest rate policies of the Board of Governors of the Federal Reserve System; interest rate, liquidity, economic, market, credit, operational and inflation/deflation risks associated with our business, including the speed and predictability of changes in these risks; the effect of acquisitions we have made or may make, including, without limitation, the failure to achieve the expected revenue growth and/or expense savings from such acquisitions, and/or the failure to effectively integrate an acquisition target into our operations; the timely development of competitive new products and services and the acceptance of these products and services by new and existing customers; the impact of changes in financial services policies, laws and regulations, including those concerning taxes, banking, securities and insurance, and the application thereof by regulatory bodies; compliance risks, including the costs of monitoring, testing, and maintaining compliance with complex laws and regulations; the effectiveness of our risk management framework and quantitative models; changes in the level of our nonperforming assets and charge-offs; risks and uncertainties related to our adoption of the SOFR family of interest rates to replace LIBOR; the effect of changes in accounting policies and practices or accounting standards, as may be adopted from time-to-time by bank regulatory agencies, the U.S. Securities and Exchange Commission (“SEC”), the Public Company Accounting Oversight Board, the Financial Accounting Standards Board or other accounting standards setters, including ASU 2016-13 (Topic 326), “Measurement of Credit Losses on Financial Instruments,” commonly referenced as the CECL model, which has changed how we estimate credit losses and may further increase the required level of our allowance for credit losses in future periods; possible credit related impairments of securities held by us; possible impairment charges to goodwill, including any impairment that may result from increasing volatility in our stock price; the impact of governmental efforts to restructure the U.S. financial regulatory system, including any amendments to the Dodd- Frank Wall Street Reform and Consumer Protection Act; recent or future changes in the FDIC insurance assessment rate; changes in consumer spending, borrowing and savings habits; the effects of our lack of a diversified loan portfolio, including the risks of geographic and industry concentrations; the possibility that we may reduce or discontinue the payments of dividends on our common stock; the possibility that we may discontinue, reduce or limit repurchases of common stock; changes in the financial performance and/or condition of our borrowers; changes in the competitive environment among financial and bank holding companies and other financial service providers; geopolitical conditions, including acts or threats of terrorism, actions taken by the United States or other governments in response to acts or threats of terrorism and/or military conflicts, including the war between Russia and Ukraine, which could impact business and economic conditions in the United States and abroad; public health crises and pandemics, including the COVID-19 pandemic, and their effects on the economic and business environments in which we operate, including on our credit quality and business operations, as well as the impact on general economic and financial market conditions; climate change, including regulatory, compliance and credit and reputational risks; cybersecurity threats and the cost of defending against them, including compliance costs; natural disasters, earthquakes, fires and severe weather; unanticipated regulatory or legal proceedings; and our ability to manage the risks involved in the foregoing. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's 2022 Annual Report on Form 10-K and other filings filed with the SEC and available at the SEC’s Internet site (http://www.sec.gov). The Company undertakes no obligation to revise or publicly release any revision or update to these forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made. Non-U.S. GAAP Financial Measures This presentation contains non-U.S. GAAP financial measures. For purposes of Regulation G promulgated by the SEC, a non-U.S. GAAP financial measure is a numerical measure of the registrant’s historical or future financial performance, financial position or cash flows that excludes amounts or is subject to adjustments that have the effect of excluding amounts that are included in the most directly comparable measure calculated and presented in accordance with U.S. GAAP in the statement of income, statement of financial condition or statement of cash flows (or equivalent statements) of the issuer; or includes amounts, or is subject to adjustments that have the effect of including amounts, that are excluded from the most directly comparable measure so calculated and presented in this regard. U.S. GAAP refers to generally accepted accounting principles in the United States. Pursuant to the requirements of Regulation G, PPBI has provided reconciliations within this presentation, as necessary, of the non-U.S GAAP financial measures to the most directly comparable U.S. GAAP financial measures. For more details on PPBI’s non-U.S. GAAP measures, refer to the Appendix in this presentation.

 

3© 2023 Pacific Premier Bancorp, Inc. | All rights reserved PRESENTATION CONTENTS Corporate Overview 4 First Quarter Performance Highlights 7 Balance Sheet Highlights 13 Asset Quality & Credit Risk Management 20 Loan Metrics 25 Strategy and Technology 31 Culture and Governance 34 Appendix: Non-GAAP Reconciliation 39

 

PPBI Corporate Overview

 

5© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Balance Sheet and Capital Ratios(2) Profitability and Credit Quality(2) Assets $21.4 billion ROAA 1.15% Loans HFI $14.2 billion PPNR ROAA(3) 1.63% TCE / TA(3) 9.20% Efficiency Ratio(3) 51.7% Tier 1 Capital Ratio 13.54% NPA / Assets 0.14% Total Capital Ratio 16.33% ACL / Loans 1.38% Premier commercial bank in key metropolitan areas throughout the Western U.S. 1. Market data as of April 26, 2023 2. As of March 31, 2023 or for the three months ended March 31, 2023, excludes the basis adjustment associated with the application of hedge accounting on certain loans 3. Please refer to non-U.S. GAAP reconciliation in the appendix 1Q23 Financial Highlights PACIFIC PREMIER BANCORP, INC. Corporate Overview & Market Data Branch Network 59 Full Service Branch Locations Market Capitalization(1) $2.0 Billion Dividend Yield(1) 6.28% P/TBV(1) 1.08x Pacific Premier Footprint 10 1 Arizona Phoenix (1) Tucson (2) 3 Nevada Las Vegas (1) 1 Southern California Los Angeles-Orange (21) San Diego (5) Riverside-San Bernardino (9) 35 Central Coast California San Luis Obispo (7) Santa Barbara (2) 9 Pacific Northwest Seattle MSA (9) Other Washington (1) Portland MSA (1)

 

6© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Dollars in billions. Source: S&P Global Market Intelligence; Note: Financial data as of December 31, 2022; Deposit data as of June 30, 2022 1. Ranking includes banks headquartered in CA, OR and WA with less than $100 billion in assets, and measures total deposits in these states; Pro forma for pending acquisitions DEPOSIT MARKET SHARE Other office locations: HOA Addison, TX Trust Denver, CO Franchise Woodcliff Lake, NJ • Diversified, long-tenured client base - Focus on main street businesses • No venture-backed start-ups, cryptocurrency or digital asset-related depository clients West Coast California Rank(1) Institution Deposits Market Share Deposits Market Share Total Assets 1 $ 46.7 1.9% $ 45.0 2.1% $ 64.1 2 41.8 1.7% 8.8 0.4% 52.2 3 22.1 0.9% 22.1 1.0% 41.2 4 17.3 0.7% 16.5 0.8% 21.7 5 15.9 0.6% 5.6 0.3% 28.7 6 14.5 0.6% 13.7 0.6% 21.9 7 14.1 0.6% 14.1 0.7% 16.5 8 13.5 0.5% 2.6 0.1% 15.8 9 10.7 0.4% 10.3 0.5% 19.2 10 9.5 0.4% 9.5 0.4% 9.5 11 8.8 0.4% 8.8 0.4% 9.9 12 8.0 0.3% - - 10.4 13 7.6 0.3% 7.6 0.4% 9.2 14 6.4 0.3% 6.4 0.3% 7.0 15 5.3 0.2% 5.3 0.2% 7.1

 

First Quarter Performance Highlights

 

8© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Q1 2023 RESULTS 1. Please refer to non-U.S. GAAP reconciliation in the appendix 2. Includes federally-insured deposits, $606 million of collateralized municipal deposits, and $70 million of privately insured deposits 3. Excludes the basis adjustment associated with the application of hedge accounting on certain loans 4. Including fair value net discount on acquired loans Operating Results • Net income of $62.6 million, or $0.66 per diluted share • ROAA of 1.15% and ROATCE of 13.9%(1) • Pre-provision net revenue (“PPNR”) of $88.4 million and PPNR ROAA of 1.63%(1) • Net interest margin of 3.44%; loan yields of 5.10% and cost of total deposits of 0.94% • Efficiency ratio of 51.7%(1) and noninterest expense of $101.4 million Loans • Loan portfolio of $14.2 billion(3) • 1Q 2023 weighted average interest rate on new loan commitments increased to 7.43% from 6.34% in Q4 2022 • Loan / deposit ratio of 82.4%, compared to 84.6% in Q4 2022 • Quarterly loan production of $116.8 million Deposits • Total deposits decline by $144.6 million or 0.8% • Core deposits of $14.2 billion, 82.6% of total deposits, average cost of core deposits of 0.54%(1) • Non-interest bearing deposits represent 36.1% of total deposits • 1Q 2023 insured and collateralized deposits(2) comprised 65% of total deposits Capital & Liquidity • Declared quarterly dividend of $0.33 per share • Tangible common equity to tangible assets increased to 9.20%(1) and total capital ratio increased to 16.33% • Tangible book value per share increased $0.23 to $19.61(1) • Cash increased to $1.4 billion with additional $8.6 billion of available borrowing capacity at March 31, 2023 Asset Quality • Delinquent loans were 0.15% of total loans held for investment • Nonperforming assets were 0.14% of total assets • Net charge-offs of $3.3 million compared to $3.8 million in Q4 2022 • ACL for LHFI of $195.4 million, or 1.38% of loans; total loss absorption capacity equals 1.74% of loans(4)

 

9© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 5.00% 7.00% 8.50% 10.50%10.29% 12.99% 12.99% 15.53% 10.41% 13.54% 13.54% 16.33% Tier 1 Leverage Ratio CET1 Ratio Tier 1 Ratio TRBC Ratio Well-Capitalized Req. 4Q22 1Q23 STRONG CAPITAL POSITION Consolidated PPBI Capital Ratios • Declared $0.33 per share dividend in Q1 2023 • Increased Q1 2023 capital levels that significantly exceed well-capitalized regulatory requirements 1. Please refer to non-U.S. GAAP reconciliation in the appendix 2. Regulatory standards for “well-capitalized” threshold calculated under Basel III capital rules inclusive of the required conservation buffer Consolidated PPBI Pacific Premier Bank Leverage Ratio 10.41% 10.29% 5.00% Common Equity Tier 1 Ratio (CET1) 13.54% 12.99% 7.00% Tier 1 Ratio 13.54% 12.99% 8.50% Total Capital Ratio 16.33% 15.53% 10.50% Tangible Common Equity Ratio(1) 9.20% 8.88% N/A Leverage Ratio 11.93% 11.80% 5.00% Common Equity Tier 1 Ratio (CET1) 15.52% 14.89% 7.00% Tier 1 Ratio 15.52% 14.89% 8.50% Total Capital Ratio 16.55% 15.74% 10.50% Q1 2023 Q4 2022 Threshold (2)

 

10© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 5.00% 7.00% 8.50% 10.50% 8.69% 12.35% 12.35% 15.39% Tier 1 Leverage Ratio CET1 Ratio Tier 1 Ratio TRBC Ratio Well-Capitalized Req. 1Q23 Securities Sale BALANCE SHEET OPTIONALITY Hypothetical scenario – Sale of the entire Securities Portfolio (AFS and HTM) - PPBI remains well above regulatory capital requirements • High capital levels provide balance sheet management flexibility • Uniquely positioned to optimally deploy capital in a manner that generates attractive risk-adjusted returns as opportunities arise 1. Regulatory standards for “well-capitalized” threshold calculated under Basel III capital rules inclusive of the required conservation buffer 2. Hypothetical scenario of selling all AFS and HTM securities on the last day of the quarter, except for HTM securities held for CRA purposes 3. Please refer to non-U.S. GAAP reconciliation in the appendix (1) (2) $ in 000s Q1 2023 Assumed Securities Sale(2) Common equity tier 1 capital $ 2,191,354 $ 1,829,477 Tier 1 capital 2,191,354 1,829,477 Total capital 2,641,748 2,279,644 Total assets for leverage ratio 21,046,020 21,042,425 Total risk-weighted assets 16,178,888 14,813,642 Tier 1 leverage ratio 10.41% 8.69% CET1 Ratio 13.54% 12.35% Tier 1 capital ratio 13.54% 12.35% Total capital ratio 16.33% 15.39% Tangible common equity ratio(3) 9.20% 8.97%

 

11© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 13.54 12.99 11.39 Pe er 1 Pe er 2 Pe er 3 Pe er 4 Pe er 5 Pe er 6 Pe er 7 Pe er 8 Pe er 9 PP BI Q 1 Pe er 1 0 PP BI Q 4 Pe er 1 2 Pe er 1 3 Pe er 1 4 Pe er 1 5 Pe er 1 6 Pe er 1 7 Pe er 1 8 Pe er 1 9 Pe er 2 0 Pe er 2 1 Pe er 2 2 Pe er 2 3 Pe er 2 4 Pe er 2 5 KR X Pe er 2 6 Pe er 2 7 Pe er 2 8 Pe er 2 9 Pe er 3 0 Pe er 3 1 Pe er 3 2 Pe er 3 3 Pe er 3 4 Pe er 3 5 Pe er 3 6 Pe er 3 7 Pe er 3 8 Pe er 3 9 Pe er 4 0 Pe er 4 1 Pe er 4 2 Pe er 4 3 Pe er 4 4 Pe er 4 5 Pe er 4 6 Pe er 4 7 Pe er 4 8 Pe er 4 9 Pe er 5 0 Common Equity Capital Ratio (CET1) 9.20 8.88 7.17 Pe er 1 Pe er 2 Pe er 3 Pe er 4 Pe er 5 Pe er 6 Pe er 7 PP BI 1Q Pe er 8 PP BI 4Q Pe er 1 0 Pe er 1 1 Pe er 1 2 Pe er 1 3 Pe er 1 4 Pe er 1 5 Pe er 1 6 Pe er 1 7 Pe er 1 8 Pe er 1 9 Pe er 2 0 Pe er 2 1 Pe er 2 2 Pe er 2 3 Pe er 2 4 Pe er 2 5 KR X Pe er 2 6 Pe er 2 7 Pe er 2 8 Pe er 2 9 Pe er 3 0 Pe er 3 1 Pe er 3 2 Pe er 3 3 Pe er 3 4 Pe er 3 5 Pe er 3 6 Pe er 3 7 Pe er 3 8 Pe er 3 9 Pe er 4 0 Pe er 4 1 Pe er 4 2 Pe er 4 3 Pe er 4 4 Pe er 4 5 Pe er 4 6 Pe er 4 7 Pe er 4 8 Pe er 4 9 Pe er 5 0 Tangible Common Equity Ratio(1) TOP TIER CAPITAL AMONG PEERS Higher is better Recent Performance vs. KBW Regional Bank Index(1) Higher is better Higher is better PP BI Q 4 1. Please refer to non-U.S. GAAP reconciliation in the appendix; 4Q22 Results for the KBW Regional Bank Index which includes: BPOP, WBS, EWBC, WAL, SNV, CFR, WTFC, CADE, SSB, ONB, VLY, FNB, UMBF, PNFP, PACW, PB, BKU, HWC, CBSH, ASB, FIBK, TCBI, UBSI, OZK, GBCI, FULT, FHB, SFNC, UCBI, ABCB, BOH, EBC, PPBI, WSFS, COLB, CATY, WAFD, INDB, FBP, AUB, HOMB, HOPE, CVBF, TRMK, FFBC, CBU, PFS, FFIN, FCF, BRKL Median Median KR X MedianPP BI Q 1 PP BI Q 4 KR X PP BI Q 1 16.33% 15.53% 13.67% Pe er 1 Pe er 2 Pe er 3 Pe er 4 Pe er 5 Pe er 6 Pe er 7 Pe er 8 PP BI Q 1 Pe er 9 PP BI Q 4 Pe er 1 1 Pe er 1 2 Pe er 1 3 Pe er 1 4 Pe er 1 5 Pe er 1 6 Pe er 1 7 Pe er 1 8 Pe er 1 9 Pe er 2 0 Pe er 2 1 Pe er 2 2 Pe er 2 3 Pe er 2 4 Pe er 2 5 KR X Pe er 2 6 Pe er 2 7 Pe er 2 8 Pe er 2 9 Pe er 3 0 Pe er 3 1 Pe er 3 2 Pe er 3 3 Pe er 3 4 Pe er 3 5 Pe er 3 6 Pe er 3 7 Pe er 3 8 Pe er 3 9 Pe er 4 0 Pe er 4 1 Pe er 4 2 Pe er 4 3 Pe er 4 4 Pe er 4 5 Pe er 4 6 Pe er 4 7 Pe er 4 8 Pe er 4 9 Pe er 5 0 Total Risk-based Capital Ratio PP BI Q 4 PP BI Q 1 KR X

 

12© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Pre-Provision Net Revenue(1)Revenue and Efficiency Ratio(1) CORE EARNINGS AND EFFICIENCY Note: All dollars in millions 1. Excludes merger-related expenses. Please refer to non-U.S. GAAP reconciliation in the appendix Strong capital generation from pre-provision net revenue and operating efficiencies • Compound annual growth rate for total revenue of 30% and pre-provision net revenue of 34%(1) • Efficiency ratio improved meaningfully from 2013, highlighting the benefits of scale and expense management $67.3 $87.0 $120.7 $172.7 $278.6 $423.7 $482.5 $645.5 $770.2 $785.9 $759.2 64.7% 61.3% 55.9% 53.6% 51.0% 51.6% 50.8% 49.8% 48.4% 48.8% 51.7% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 Total Revenue Efficiency Ratio $23.4 $33.6 $52.2 $79.0 $131.7 $192.3 $224.1 $313.5 $389.9 $389.2 $353.8 1.62% 1.84% 1.99% 2.19% 2.16% 1.96% 1.94% 1.86% 1.90% 1.81% 1.63% 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1Q23 Pre-Provision Net Revenue PPNR / Average Assets

 

PPBI Balance Sheet Highlights

 

14© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Total Deposits of $17.2 billion as of March 31, 2023 Relationship-based core deposits • Well-diversified and granular core deposit base reflects our relationship-based business model • Uninsured and uncollateralized deposits 35% of total deposits as of March 31, 2023 • Cumulative total deposit beta of 23% • Non-interest bearing deposits comprise 36% of total deposits • Core deposit costs of 0.54% HIGH QUALITY DEPOSIT FRANCHISE 1. As of March 31, 2023 2. Quarterly average cost 3. Please refer to the non-U.S. GAAP information in the appendix 4. Excludes Commerce Escrow and Exchange, HOA and Pacific Premier Trust relationships Quarterly Average Cost of Total Deposits Trend Relative to Fed Funds Rate Deposit Mix at March 31, 2023 Total Deposits = 23% Period-end Beta 4Q21-1Q23 Cost of core deposits: 0.54% 0.33 1.58 3.08 4.33 4.83 0.04 0.06 0.22 0.58 0.94 1Q22 2Q22 3Q22 4Q22 1Q23 Federal Funds Rate Cost of Total Deposits Deposits Detail as of March 31, 2023 Non-interest Bearing Deposits, 36.1% Interest-bearing Core Deposits, 46.5% Brokered Deposits, 10.1% Retail CDs, 7.3% Average Length of Commercial and Consumer Banking Relationship(4) = 12.2 years Balance(1) % of Total Avg. Cost of Deposits(2) Spot Cost of Deposits (dollars in thousands) Noninterest-bearing demand 6,209,104$ 36% 0.00% 0.00% Interest-bearing demand 2,871,812 17% 0.79% 0.98% Money market / savings 5,128,827 30% 1.01% 1.10% Total core deposits 14,209,743 83% 0.54% 0.61% Retail certificates of deposit 1,257,146 7% 2.61% 3.00% Brokered money market 30 0% 0.05% 0.05% Wholesale/brokered certificates of deposits 1,740,891 10% 3.67% 4.13% Total non-core deposits 2,998,067 17% 3.19% 3.67% Total deposits 17,207,810$ 100% 0.94% 1.15% Q1 2023 Deposit Account Type (accounts in thousands) # of Accounts Deposit Balance (in millions) Average per Account Business and Commercial Deposits 77 9,514$ 124$ Consumer Deposits* 117 6,034$ 52$ Total** 193 15,547$ 176$ *Includes Trust Accounts **Excludes Brokered Deposits

 

15© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 1. Uninsured and uncollateralized deposits estimated as total deposits less federally-insured deposits, $606 million of collateralized municipal deposits, and $70 million of privately insured deposits 2. Also includes interest-bearing time deposits with financial institutions STRONG LIQUIDITY POSITION Quarterly Period-end Cash Balance Trends ($ in millions) Well-positioned with enhanced liquidity • Cash increased to $1.4 billion at March 31, 2023 • FHLB borrowings decreased $200 million from year-end to $800 million at March 31, 2023 with nearly $5 billion of available capacity • Did not access either the FRB discount window or BTFP program during 1Q 2023 • Total liquidity coverage ratio of 1.7x to uninsured and uncollateralized deposits(1) $811 $975 $741 $1,103 $1,427 3.8% 4.4% 3.4% 5.1% 6.7% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Cash and cash equivalents Cash / total assets Sources of Liquidity as of March 31, 2023 1Q23 Liquidity / Uninsured and Uncollateralized Deposits ($ in billions)(1) $ in millions As of March 31, 2023 Cash and Cash Equivalents(2) $ 1,427 On Balance Sheet Liquidity 1,427 Additional Sources of Liquidity Unused FHLB Borrowing Capacity $ 4,851 Correspondent Banks 395 FRB Discount Window 1,218 FRB BTFP 2,088 Total Unused Borrowing Capacity $ 8,551 Total Liquidity $ 9,976 $10.0 $6.0 Total Liquidity Estimated Uninsured & Uncollateralized Deposits 1.7x Coverage (2)

 

16© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Note: All dollars in thousands, unless noted otherwise Note: SBA loans are unguaranteed portion and represent approximately 25% of principal balance for the respective borrower WELL STRUCTURED LOAN PORTFOLIO Loans Outstanding by Type and Weighted Average Rate(1) March 31, 2023 Loan Repricing Structure(5) New Commitments and Prepay / Payoff Trends(4) - $1,462 $1,504 $789 $240 $117 $787 $937 $569 $481 $5203.55% 4.11% 5.55% 6.34% 7.43% 1Q22 2Q22 3Q22 4Q22 1Q23 New Commitments Amort. / Payoff / Prepay New Commitments Rate 1. As of March 31, 2023 and excludes the impact of fees, discounts and premiums 2. SBA loans that are collateralized by hotel real property 3. SBA loans that are collateralized by real property other than hotel real property 4. Dollars in millions, Payoff & Prepayment includes prepayments, maturities and normal amortization. 5. As of March 31, 2023, and includes $1.2 billion of variable swaps on fixed rate loans, Loan balances reflect unpaid principal balance and do not include capitalized costs and fees Balance % of Total Weighted Average Rate(1) Investor real estate secured CRE non-owner occupied 2,590,824$ 18.3 % 4.56% Multifamily 5,955,239 42.0 3.87% Construction and land 420,079 3.0 8.69% SBA secured by real estate(2) 40,669 0.3 8.62% Total investor real estate secured 9,006,811 63.6 4.32% Business real estate secured CRE owner-occupied 2,342,175 16.6 4.27% Franchise real estate secured 371,902 2.6 4.76% SBA secured by real estate(3) 60,527 0.4 8.31% Total business real estate secured 2,774,604 19.6 4.43% Commercial loans Commercial and industrial 1,967,128 13.9 6.60% Franchise non-real estate secured 388,722 2.7 4.92% SBA non-real estate secured 10,437 0.1 8.87% Total commercial 2,366,287 16.7 6.34% Retail Loans Single family residential 70,913 0.5 6.11% Consumer 3,174 0.0 6.36% Total retail loans 74,087 0.5 6.12% Total loans held for investment 14,221,789$ 100.4 % 4.68% Basis adjustment associated with fair value hedge (50,005) (0.4) Total loans held for investment 14,171,784$ 100.0 % Loan Repricing Summary <1 Year 1-2 Year 2-3 year 3-5 Years >5 Year Total Prime 8.9% 0.1% 0.1% 0.3% 0.1% 9.4% 6M LIBOR 5.7% 2.2% 0.6% 1.5% 3.4% 13.5% Long Tenor UST / Swap 1.7% 3.8% 1.6% 5.1% 1.1% 13.3% Other Indexed Rate Loans 7.4% 1.5% 3.1% 16.1% 6.6% 34.6% Total Variable Rate Loans 23.7% 7.6% 5.4% 23.0% 11.3% 70.9% Fixed Rate Loans 1.2% 1.3% 1.4% 4.1% 21.1% 29.1% Total Loans 24.8% 8.9% 6.8% 27.2% 32.4% 100.0% Variable 24% Adjustable 47% Fixed 21% Fixed with Variable Swap 8%

 

17© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Commercial and Business 36% Multifamily 42% Commercial Real Estate 21% Consumer 1% 1. As of March 31, 2023 excludes the basis adjustment associated with the application of hedge accounting on certain loans 2. Commercial and business loans, distribution by North American Industry Classification (NAICS) Loans Outstanding by Type(1) Commercial & Business Loans by Industry(2) HIGH QUALITY LOAN PORTFOLIO $14.2 Billion Diversified loan portfolio • Granular loan portfolio reflects deep and long-tenured client relationships – we lend to well-established businesses and real estate operators. • Conservative, cash-flow lender with a long history of proactive and effective credit risk management. • Commercial loans with diverse set of industries across Western U.S. CRE Loans Maturity Profile as of March 31, 2023 CRE Loans Maturity Profile <1 Year 1-2 Years 2-3 Years 3-5 Years >5 Years Total Multifamily 0.3% 0.5% 0.7% 2.6% 38.0% 42.0% CRE Owner-Occupied 0.4% 0.2% 0.5% 1.5% 14.0% 16.6% CRE Non-Owner Occupied 1.0% 1.1% 1.3% 2.9% 12.0% 18.3% Total 1.6% 1.8% 2.4% 7.0% 64.0% 76.9% • CRE maturities well distributed into future periods • Limited exposure to maturity over the next several years Accommodation and Food Services 18% Construction 11% Manufacturing 11% Other Services (except Public Administration) 8% Health Care and Social Assistance 7% All Other 13% Real Estate and Rental and Leasing 6% Finance and Insurance 5% Educational Services 4% Wholesale Trade 4% Professional, Scientific, and Technical Services 4% Public Administration 4% Agriculture, Forestry, Fishing and Hunting 3% Arts, Entertainment, and Recreation 2%

 

18© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Muni Bonds 30% MBS 27% CMO 19% Treasurys 0% Agency 11% Corp & Bank Notes 13% Other 0% SECURITIES PORTFOLIO Investment Securities as of March 31, 2023 HTM Securities Valuation as of March 31, 2023 Highly-rated securities portfolio • Investment securities totaled $3.9 billion, or 18.1% of total assets as of March 31, 2023 • Favorable incremental quarterly AFS AOCI impact, as the unrealized loss position decreased to $253.0 million at March 31, 2023 from $303.7 million at December 31, 2022 • Transferred $410.7 million of CMOs to HTM during Q1 2023 • Q1 2023 average yield of 2.53%(1) $3.9 Billion 1. For AFS and HTM securities, excludes FRB Stock and FHLB stock 2. Proforma reflects hypothetical after-tax impact of unrealized loss on securities and assumes effective tax rate of 28.4% and reduction in tangible assets by corresponding HTM unrealized loss 3. Please refer to non-U.S. GAAP reconciliation in the appendix ($ in millions) Actual Proforma(2) 3/31/2023 3/31/2023 Tangible common equity 1,877$ 1,877$ Less: HTM securities (unrealized losses) net of tax - (181) Tangible common equity after HTM impact $1,877 $1,697 Tangible assets 20,408$ 20,227$ Tangible common equity ratio(3) 9.20% 8.39% AFS Duration as of March 31, 2023 <1 Year 25% 1-3 Years 26% 3-5 Years 19% > 5 Years 30% 3.5 Years AFS Duration 5.2 Years Total Portfolio Duration

 

19© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 3.41% 3.49% 3.61% 3.61% 3.44% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Reported Net Interest Margin NET INTEREST MARGIN Net Interest Margin 1Q NIM narrowed from prior quarter, as remix toward higher-cost funding sources offset higher earning asset yields Loan Yields Cost of Funds and Cost of Deposits Relative to Fed Funds Rate Factors Affecting Net Interest Margin Increase Decrease 4.25% 4.42% 4.61% 4.94% 5.10% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Reported Loan Yield 0.04% 0.06% 0.22% 0.58% 0.94%0.15% 0.22% 0.38% 0.77% 1.15% 0.33% 1.58% 3.08% 4.33% 4.83% -1.50% -0.50% 0.50% 1.50% 2.50% 3.50% 4.50% 5.50% Q1 2022 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Cost of Deposits Cost of Funds Fed Funds Rate(1) 1. Period-end Fed Funds Rate at each respective quarter-end

 

Asset Quality & Credit Risk Management

 

21© 2023 Pacific Premier Bancorp, Inc. | All rights reserved LOAN PORTFOLIO & CECL ACL for LHFI + Fair Value MarkAllowance for Credit Losses by Loan Type 1. SBA loans that are collateralized by hotel real property 2. SBA loans that are collateralized by real property other than hotel real property 3. Adds back the FV discount to the loans held for investment Increase Decrease Combined Loss Absorption Capacity CECL model update • Reserves reflect changes in asset quality offset by change in loan balances and portfolio composition ACL for LHFI Change Attributions ($ in millions) (dollars in thousands) ACL Balance % of Loans HFI Investor loans secured by real estate CRE non-owner occupied 31,715$ 1.22% Multifamily 57,787 0.97% Construction and land 7,672 1.83% SBA secured by real estate(1) 2,291 5.63% Business loans secured by real estate CRE owner-occupied 29,334 1.25% Franchise real estate secured 7,790 2.09% SBA secured by real estate(2) 4,415 7.29% Commercial loans Commercial and industrial 37,659 1.91% Franchise non-real estate secured 15,721 4.04% SBA non-real estate secured 401 3.84% Retail loans Single family residential 392 0.55% Consumer loans 211 6.65% ACL for Loans HFI 195,388$ 1.38% March 31, 2023 (dollars in thousands) Balance % of Total Loans Held for Investment ACL for LHFI 195,388$ 1.38% Plus: Fair Value Mark on Acquired Loans(3) 52,233 0.37% Total ACL & Fair Value Mark(3) 247,621$ 1.74%

 

22© 2023 Pacific Premier Bancorp, Inc. | All rights reserved ASSET QUALITY TRENDS Nonperforming Assets (% of Total Assets) Past Due Loans (% of LHFI) Classified Loans (% of Total Loans) Net Charge-offs (Recoveries) (% of Average Loans) Asset quality remains strong reflecting disciplined credit risk management Note: Dollars in millions $55.3 $44.4 $60.5 $30.9 $30.4 0.26% 0.20% 0.28% 0.14% 0.14% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 Nonperforming Assets ($ in millions) NPAs / Assets $43.7 $36.3 $41.3 $43.3 $20.8 0.30% 0.24% 0.28% 0.30% 0.15% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 Past Due Loans ($ in millions) PD Loans / Loans HFI $0.4 $5.2 $1.1 $3.8 $3.3 0.00% 0.04% 0.01% 0.03% 0.02% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 Net Charge-offs (Recoveries) ($ in millions) NCOs / Avg Loans $122.5 $106.2 $110.1 $149.3 $166.6 0.83% 0.71% 0.74% 1.02% 1.14% 1Q 2022 2Q 2022 3Q 2022 4Q 2022 1Q 2023 Classified Loans ($ in millions) Classified Loans / Loans HFI

 

23© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 0.14% 4.21% Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 PPBI Peer Median PDNB Failed- Bank Acquisition 4/27/12 CREDIT RISK MANAGEMENT Credit quality has historically outperformed peers throughout varying cycles Nonperforming Assets to Total Assets Comparison CNB Failed- Bank Acquisition 2/11/11 Note: Peer group consists of Western region banks and thrifts with total assets between $5 billion and $68 billion as of December 31, 2022

 

24© 2023 Pacific Premier Bancorp, Inc. | All rights reserved 627% 499% 415% 372% 310% 349% 376% 275% 356% 285% 385% 336% 0% 100% 200% 300% 400% 500% 600% 700% 800% Construction CRE NOO Multifamily CRE Concentration Ratio Note: Prior to 2020, CRE Concentration Ratio defined as (Non-owner Occupied CRE + Construction + Multifamily) / Total Risk-based Capital 1. CRE Concentration Ratio in 2020 and after defined as (Non-owner Occupied CRE + Construction + Multifamily) / (Tier 1 Capital + ACL attributable to loans) CRE Concentration Ratio(1) Decreased Managed Growth Grandpoint Acquisition Experience in managing CRE loans through multiple cycles • 65% of loans included in CRE concentration at March 31, 2023 are multifamily loans with historically strong performance • CRE concentrations are well-managed across the organization and stress-tested semiannually Opus Acquisition LOW RISK CRE LOAN PORTFOLIO

 

Selected Loan Metrics First Quarter 2023 As of March 31, 2023

 

26© 2023 Pacific Premier Bancorp, Inc. | All rights reserved INVESTOR OWNED CRE - MULTIFAMILY Portfolio Characteristics – Multifamily Loan Balance Outstanding $6.0 billion Number of Loans 2,503 Average Loan Size $2.4 million Loan-to-Value (Weighted Average) 58% DSCR (Weighted Average)* 1.66x Seasoning (Weighted Average) 34 months • Disciplined underwriting focuses on true cash flow, using the lesser of actual or market rents and market vacancy, not projections or positive market trends • Majority of loans are personally guaranteed by principals or by entities with significant net worth and liquidity • Portfolio is well diversified across geographies and project types • Loans to seasoned owners of multifamily properties with extensive operating experience • Limited non-recourse lending reflects seasoned stabilized properties with modest leverage and strong operating results • Core competency for PPBI, an asset class which performed well for the bank during the Great Recession of 2008 Portfolio Fundamentals *DSCR is computed using the most recent NOI provided and annualized current payment amount By # of Units(1) By Geography(2) 1. By number of units as primary collateral 2. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. Los Angeles 38% Orange County 3% Riverside 2% San Bernardino 2% San Diego 6% San Luis Obispo 1% Santa Barbara 1% Other CA 14% AZ 8% NV 3% WA 12% Other States 10%

 

27© 2023 Pacific Premier Bancorp, Inc. | All rights reserved INVESTOR OWNED CRE - NON-OWNER OCCUPIED CRE By Property Type By Geography(1) • Disciplined underwriting standards emphasize actual cash flow coverage of debt service and strong collateral support • Disciplined underwriting uses the lesser of actual or market rents and market vacancy, not projections or proformas • Majority of loans are personally guaranteed by principals or by entities with significant net worth and liquidity • Portfolio is well diversified across geographies and property types • Seasoned owners and managers of income properties • 80% of loans are to borrowers who maintain a deposit relationship • Core competency for PPBI, an asset class which performed well for the bank during the Great Recession of 2008 Portfolio Characteristics – CRE Non-Owner Occupied Loan Balance Outstanding(1) $2.6 billion Number of Loans 1,330 Average Loan Size $1.9 million Loan-to-Value (Weighted Average) 50% DSCR (Weighted Average)(2) 1.87x Seasoning (Weighted Average) 51 months 1. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. Portfolio Fundamentals (1)Excludes SBA loans (2)DSCR is computed using the most recent NOI provided and annualized current payment amount Hotel and Motel 12% Industrial 13% Office 27% Retail 33% Other 15% Los Angeles 26% Orange County 14% Riverside 5%San Bernardino 3% San Diego 7% San Luis Obispo 8% Santa Barbara 3% Ventura 1% Other CA 8% AZ 7% NV 6% WA 4% Other States 8%

 

28© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Retail: By Geography(1) Office: By Geography(1) • Disciplined underwriting uses the lesser of actual or market rents and market vacancy, while considering tenant profile, lease expirations, rollover risk and capital costs • Portfolios are well diversified across geographies and property types Retail • PPBI lends on seasoned Class B and C strip and neighborhood centers in well established higher density markets • No exposure to malls and minimal exposure to big-box retailers Office • PPBI lends on seasoned Class B and C properties located near job centers, emphasis on suburban metro markets • Minimal exposure to Class A high-rise projects or to central business districts Portfolio Characteristics – Retail and Office CRE NOO 1. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. Portfolio Fundamentals (1)Excludes SBA loans (2) DSCR is computed using the most recent NOI provided and annualized current payment amount Retail Office Loan Balance Outstanding(1) $867.7 million $707.5 million Number of Loans 379 264 Average Loan Size $2.3 million $2.7 million Loan-to-Value (Weighted Average) 49% 54% DSCR (Weighted Average)(2) 1.65x 1.57x Seasoning (Weighted Average) 50 months 47 months INVESTOR OWNED CRE DETAIL - RETAIL & OFFICE Los Angeles 28% Orange County 14% Riverside 5%San Bernardino 2% San Diego 5% San Luis Obispo 5% Santa Barbara 2% Ventura 1% Other CA 9% AZ 9% NV 9% WA 2% Other States 9% Los Angeles 27% Orange County 18% Riverside 4% San Bernardino 1% San Diego 7% San Luis Obispo 9% Santa Barbara 3% Ventura 1% Other CA 2% AZ 7% NV 4% WA 6% Other States 11%

 

29© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Los Angeles 28% Orange County 16% Riverside 10% San Bernardino 4% San Diego 7% San Luis Obispo 3% Santa Barbara 2% Ventura 2% Other CA 9% AZ 3% NV 1% WA 3% Other States 12% BUSINESS LOANS – C&I By Industry(1) • Commercial & Industrial loans focused on small and middle market businesses • Portfolio is well diversified by industry and geography • 88% of borrowers have a deposit relationship • Repayment based on operating cash flows of the business • Disciplined underwriting based on actual results, not projections • Limited exposure to syndicated or leveraged loans Portfolio Characteristics – Commercial and Industrial Loan Balance Outstanding (1) $2.0 billion Number of Loans 5,082 Average Loan Size $387,000 Number of Relationships 3,614 Average Relationship Size (2) $1.1 million Portfolio Fundamentals (1) Excludes SBA and Franchise loans (2) Based on commitment 1 Distribution by North American Industry Classification System (NAICS) 2. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. By Geography(2) Real Estate 8% Public Administration 10% Manufacturing 16% Construction 21% Health Care 3% Financial Services 11% Information 3% Other Services 8% Wholesale Trade 2% Professional Services 4% Agriculture 3% Accommodation and Food Services 1% Educational Services 2% Transport and Warehouse 2% Retail Trade 2% Entertainment 2% Administrative 2%

 

30© 2023 Pacific Premier Bancorp, Inc. | All rights reserved BUSINESS LOANS - CRE OWNER OCCUPIED By Industry(1) By Geography(2) • Relationship borrowers who are core banking clients of PPBI • Repayment based on operating cash flows of the business • Business loans secured by owner occupied commercial real estate • Properties located in job centers, with emphasis on metro markets and supporting suburbs, primarily in California and Western states • Disciplined underwriting based on actual business cash flows, not projections • Portfolio is well diversified by industry and geography Portfolio Characteristics – CRE Owner Occupied Loan Balance Outstanding (1) $2.3 billion Number of Loans 1,493 Average Loan Size $1.6 million Loan-to-Value (Weighted Average) 53% Seasoning (Weighted Average) 42 months 1 Distribution by North American Industry Classification System (NAICS) 2. Based on state of primary real property collateral if available, otherwise borrower address is used. All California information is for respective county. Portfolio Fundamentals (1) Excludes SBA and Franchise loans Los Angeles 31% Orange County 11% Riverside 15%San Bernardino 9% San Diego 6% San Luis Obispo 5% Santa Barbara 5% Ventura 3% Other CA 6% AZ 3% NV 2% WA 1% Other States 3% Manufacturing 11% Health Care 13% Retail Trade 10% Real Estate 6% Other Services 11% Accommodation and Food Services 6% Construction 7% Educational Services 8% Agriculture 5% Wholesale Trade 8% Professional Services 5% Entertainment 3% Financial Services 2% Transport and Warehouse 2%Administrative and Support 2% Other 1%

 

Strategy and Technology Overview

 

32© 2023 Pacific Premier Bancorp, Inc. | All rights reserved PREMIER 360™ Total client transparency throughout the organization using proprietary Salesforce™ enabled platform ™ Client and Data Management Highly customized solution designed to enhance the client experience, maximize banking relationships, optimize business development and accelerate new client acquisition Workflow Management Automated workflows centered around the client, allowing Pacific Premier to be highly efficient and maximize resource capacity Call Center Management Using the combination of top tier call center technology and Premier 360™, provides employees the right tools to deliver best-in-class services Digital Marketing Management Marketing automation that sends electronic communications to prospective and existing clients on behalf of Pacific Premier ™

 

33© 2023 Pacific Premier Bancorp, Inc. | All rights reserved CLIENT ACQUISITION - PREMIER 360™ New Client Acquisition Onboarding Clients Premier360™ Reporting  Premier360™ is the central database of all potential banking clients and referral sources  Each relationship manager owns a targeted number of prospects and referral sources which they call regularly  Marketing campaigns are customized, targeted and delivered digitally to prospective clients enabling better call penetration  All client onboarding starts and finishes through Premier360™ – universal client view as every business unit has visibility of each prospective and existing client  Each potential banking relationship is customized to the current and future banking needs of the client  Clients have a dedicated relationship manager that owns the relationship  All potential client and referral source calls and appointments are tracked with activity reports in Premier360™  All business units have access to onboarding pipeline to track progress to ensure client expectations are met  All existing client calls and appointments are tracked in Premier360™ to foster stronger relationships

 

PPBI Culture and ESG

 

35© 2023 Pacific Premier Bancorp, Inc. | All rights reserved CULTURE AT PACIFIC PREMIER Our culture is defined by our Success Attributes and they are the foundation of our “one bank, one culture” approach Organizational Culture Integrity • Do the right thing, every time. • Conduct business with the highest ethical standards. • Take responsibility for your actions. Improve • Improvement is incremental. Small changes over time have a significant impact. • Mistakes happen. Learn from them and don’t repeat them. • Be responsible for your personal and professional development. Communicate • Over-communicate. • Provide timely and complete information to all stakeholders. • Collaborate to make better decisions. Achieve • Results matter. • Be open to achieving results in new ways. • A winning attitude is contagious. Urgency • Operate with a sense of urgency. • Be thoughtful, making decisions in a timely manner. • Act today, not tomorrow.

 

36© 2023 Pacific Premier Bancorp, Inc. | All rights reserved We are focused on transparency and continuous improvement in ESG Environmental ISS QualityScore: 4 Social ISS QualityScore: 3 Governance ISS QualityScore: 1 • Published annual Corporate Social Responsibility Report including SASB and TCFD metrics • Completed Materiality Assessment to identify most relevant ESG issues • Procured carbon accounting software and an ESG enterprise reporting solution to track progress • Awarded an Outstanding rating in our last two consecutive Community Reinvestment Act (CRA) exams • Boosted employee cybersecurity training and communication Current environmental initiatives aim to improve disclosures, evaluate climate risk, and reduce our environmental impact Our commitment to our communities, customers and employees is at the core of our ESG strategy(2) Community Support 7,500 Volunteer Hours 430+ Community Partnerships Our full Board is responsible for overseeing ESG and corporate social responsibility efforts throughout our organization $76.1M in lending to small businesses and small farms 103k participants reached through financial literacy initiatives • Disclosed Scope 1 and Scope 2 greenhouse gas emissions. Evaluated relevancy of Scope 3 factors. • Established Climate-related Credit Risk Working Group and implemented enhanced climate risk procedures for credit underwriters • Sourced 38% of electricity at a key headquarter building from renewable resources • Materially reduced purchases of single-use cups, plates, and utensils in our offices 1. Management = any individual with direct reports 2. Equitable Access & Financial Inclusion and Community Support data is for the 12-month period ended December 31, 2022 Equitable Access & Financial Inclusion COMMITMENT TO ESG • The Board’s Nominating and Governance Committee, responsible for overseeing ESG program • The full Board and Enterprise Risk Committee oversee information security program • 50% of Board committees chaired by women • 45% of Independent Directors are women and/or of ethnic diversity 3 2 Employee HighlightsCommitment to Human Capital Commitment to Continuous Improvement • Refined Premier Inclusion program and strategy to promote initiatives related to diversity, equity and inclusion • Increased outreach efforts to better identify and attract diverse candidates • Gallup employee engagement survey surpassed average participation rates at 88%

 

37© 2023 Pacific Premier Bancorp, Inc. | All rights reserved Six Independent Directors Independent Director Tenure Added Since 2019 As of 12/31/22 2022 Rose McKinney-James Managing Principal, Energy Works LLC and McKinney-James & Associates Stephanie Hsieh General Partner and Chief Strategy Officer of Noblespace and prior Executive Director, Biocom California 2021 George Pereira Prior COO and CFO, Charles Schwab Investment Management Inc. 2020 Richard Thomas Prior EVP / CFO, CVB Financial Corp. 2019 Barbara Polsky Senior Advisor, Jiko Group, Inc. and prior Partner Manatt, Phelps & Phillips, LLP 10+ Years 18% 0-4 Years 55% 5-9 Years 27% Commitment to regular refreshment to evolve our Board in line with our strategy Process Overview • Our Board is committed to annually reviewing the appropriate skills and characteristics required of directors • The Board believes in and actively practices diversity and inclusion, with 45% of its independent directors demonstrating gender or ethnic diversity at 12/31/2022 Key Selection Criteria  Integrity and independence  Composition of the board should reflect sensitivity to the need for diversity with respect to gender, ethnic background and experience  Substantial accomplishments, and prior or current association with institutions noted for their excellence  Demonstrated leadership ability, with broad experience, diverse perspectives and the ability to exercise sound business judgment  Banking/Financial Services expertise  Public company oversight experience  Significant experience in governance areas such as audit, corporate governance, enterprise risk, executive compensation practices and regulatory compliance  Special skills, expertise or background that add to and complement the range of skills including cybersecurity, data security, technology and ESG oversight  Career success that demonstrates the ability to make the kind of important and sensitive judgments that the Board is called upon to make  Availability and energy necessary to perform duties as a director Our Process in Action Average Tenure 5.5 Years BOARD REFRESHMENT & EVALUATION PROCESS 2019 Jaynie Studenmund Prior Head of Retail & Business Banking, First Interstate Bank, Great Western Bank, and Home Savings

 

38© 2023 Pacific Premier Bancorp, Inc. | All rights reserved PPBI INVESTMENT THESIS  Shareholder value is our key focus – building long-term value for our owners  Our culture differentiates us and drives fundamentals for all stakeholders  Diverse Board advising on strategy, overseeing risk and ESG, and supporting long-term value creation  Financial results remain solid – strong capital ratios and core earnings  Emphasis on risk management is a key strength of our organization  We have maintained a strong credit culture in both good times and bad  Highly experienced and respected bank acquirer – 11 successful acquisitions since 2011

 

Appendix: Information - Non-GAAP Reconciliation

 

40© 2023 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Note: All dollars in thousands, except per share data Tangible common equity to tangible assets (the "tangible common equity ratio") and tangible book value per share are non-U.S. GAAP financial measures derived from U.S. GAAP-based amounts. We calculate the tangible common equity ratio by excluding the balance of intangible assets from common stockholders' equity and dividing by tangible assets. We calculate tangible book value per share by dividing tangible common equity by common shares outstanding, as compared to book value per common share, which we calculate by dividing common stockholders’ equity by common shares outstanding. We believe that this information is consistent with the treatment by bank regulatory agencies, which exclude intangible assets from the calculation of risk-based capital ratios. Accordingly, we believe that these non-U.S. GAAP financial measures provide information that is important to investors and that is useful in understanding our capital position and ratios. However, these non-U.S. GAAP financial measures are supplemental and are not a substitute for an analysis based on U.S. GAAP measures. As other companies may use different calculations for these measures, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the non-U.S. GAAP measure of tangible common equity ratio to the U.S. GAAP measure of common equity ratio and tangible book value per share to the U.S. GAAP measure of book value per share are set forth below. March 31, June 30, Sept. 30, Dec. 31, March 31, 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2022 2022 2022 2023 Total stockholders' equity 175,226$ 199,592$ 298,980$ 459,740$ 1,241,996$ 1,969,697$ 2,012,594$ 2,746,649$ 2,886,311$ 2,783,018$ 2,755,219$ 2,735,396$ 2,798,389$ 2,831,161$ Less: intangible assets 24,056 28,564 58,002 111,941 536,343 909,282 891,634 984,076 970,883 967,290 963,812 960,340 956,900 953,729 Tangible common equity 151,170$ 171,028$ 240,978$ 347,799$ 705,653$ 1,060,415$ 1,120,960$ 1,762,573$ 1,915,428$ 1,815,728$ 1,791,407$ 1,775,056$ 1,841,489$ 1,877,432$ Total assets 1,714,187$ 2,037,731$ 2,789,599$ 4,036,311$ 8,024,501$ 11,487,387$ 11,776,012$ 19,736,544$ 21,094,429$ 21,622,296$ 21,993,919$ 21,619,201$ 21,688,017$ 21,361,564$ Less: Intangible assets 24,056 28,564 58,002 111,941 536,343 909,282 891,634 984,076 970,883 967,290 963,812 960,340 956,900 953,729 Tangible assets 1,690,131$ 2,009,167$ 2,731,597$ 3,924,370$ 7,488,158$ 10,578,105$ 10,884,378$ 18,752,468$ 20,123,546$ 20,655,006$ 21,030,107$ 20,658,861$ 20,731,117$ 20,407,835$ Tangible common equity ratio 8.94% 8.51% 8.82% 8.86% 9.42% 10.02% 10.30% 9.40% 9.52% 8.79% 8.52% 8.59% 8.88% 9.20% Basic shares outstanding 16,656,279 16,903,884 21,570,746 27,798,283 46,245,050 62,480,755 59,506,057 94,483,136 94,389,543 94,945,849 94,976,605 95,016,767 95,021,760 95,714,777 Book value per share 10.52$ 11.81$ 13.86$ 16.54$ 26.86$ 31.52$ 33.82$ 29.07$ 30.58$ 29.31$ 29.01$ 28.79$ 29.45$ 29.58$ Less: intangible book value per share 1.44 1.69 2.69 4.03 11.60 14.55 14.98 10.42 10.29 10.19 10.15 10.11 10.07 9.96 Tangible book value per share 9.08$ 10.12$ 11.17$ 12.51$ 15.26$ 16.97$ 18.84$ 18.65$ 20.29$ 19.12$ 18.86$ 18.68$ 19.38$ 19.61$ As of December 31, As of

 

41© 2023 Pacific Premier Bancorp, Inc. | All rights reserved NON-U.S. GAAP FINANCIAL MEASURES Note: All dollars in thousands 1. Annualized Return on average tangible common equity is a non-U.S. GAAP financial measure derived from U.S. GAAP-based amounts. We calculate this figure by excluding CDI amortization expense and excluding the average CDI and average goodwill from the average stockholders’ equity during the period. We believe that this non-U.S. GAAP financial measure provides information that is important to investors and that is useful in understanding our performance. This non-U.S. GAAP financial measure is supplemental and is not a substitute for an analysis based on U.S. GAAP measures. As companies may use different calculations for this measure, this presentation may not be comparable to other similarly titled measures reported by other companies. A reconciliation of the U.S. GAAP measure of return on average equity to the non-U.S. GAAP measure of return on average tangible common equity is set forth below. 3/31/2023 12/31/2022 3/31/2022 Net income 62,562$ 73,673$ 66,904$ Plus: amortization of intangible assets expense 3,171 3,440 3,592 Less: amortization of intangible assets expense tax adjustment 901 978 1,025 Net income for average tangible common equity 64,832$ 76,135$ 69,471$ Average stockholders' equity 2,822,392$ 2,751,161$ 2,864,387$ Less: average intangible assets 54,310 57,624 68,157 Less: average goodwill 901,312 901,312 901,312 Average tangible common equity 1,866,770$ 1,792,225$ 1,894,918$ Return on average equity(1) 8.87% 10.71% 9.34% Return on average tangible common equity(1) 13.89% 16.99% 14.66% Three Months Ended