Banc of California (BANC) 8-KBanc of California, Inc. Reports First Quarter 2024 Financial Results with Improved Profitability and Strengthened Balance Sheet

 Investor Presentation  First Quarter 2024 Results  Draft v4.5  1/21/24 

 Forward Looking Statements  This press release includes forward-looking statements within the meaning of the “Safe-Harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words or phrases such as “believe,” “will,” “should,” “will likely result,” “are expected to,” “will continue,” “is anticipated,” “estimate,” “project,” “plans,” “strategy,” or similar expressions are intended to identify these forward-looking statements. You are cautioned not to place undue reliance on any forward-looking statements. These statements are necessarily subject to risk and uncertainty and actual results could differ materially from those anticipated due to various factors, including those set forth from time to time in the documents filed or furnished by Banc of California, Inc. (the “Company”) with the Securities and Exchange Commission (“SEC”). 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, except as required by law.  Factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to: (i) changes in general economic conditions, either nationally or in our market areas, including the impact of supply chain disruptions, and the risk of recession or an economic downturn; (ii) changes in the interest rate environment, including the recent and potential future changes in the FRB benchmark rate, which could adversely affect our revenue and expenses, the value of assets and obligations, the realization of deferred tax assets, the availability and cost of capital and liquidity, and the impacts of continuing inflation; (iii) the credit risks of lending activities, which may be affected by deterioration in real estate markets and the financial condition of borrowers, and the operational risk of lending activities, including the effectiveness of our underwriting practices and the risk of fraud, any of which may lead to increased loan delinquencies, losses, and non-performing assets, and may result in our allowance for credit losses not being adequate; (iv) fluctuations in the demand for loans, and fluctuations in commercial and residential real estate values in our market area; (v) the quality and composition of our securities portfolio; (vi) our ability to develop and maintain a strong core deposit base, including among our venture banking clients, or other low cost funding sources necessary to fund our activities particularly in a rising or high interest rate environment; (vii) the rapid withdrawal of a significant amount of demand deposits over a short period of time; (viii) the costs and effects of litigation; (ix) risks related to the Company’s acquisitions, including disruption to current plans and operations; difficulties in customer and employee retention; fees, expenses and charges related to these transactions being significantly higher than anticipated; and our inability to achieve expected revenues, cost savings, synergies, and other benefits; and in the case of our recent acquisition of PacWest Bancorp (“PacWest”), reputational risk, regulatory risk and potential adverse reactions of the Company's or PacWest's customers, suppliers, vendors, employees or other business partners; (x) results of examinations by regulatory authorities of the Company and the possibility that any such regulatory authority may, among other things, limit our business activities, restrict our ability to invest in certain assets, refrain from issuing an approval or non-objection to certain capital or other actions, increase our allowance for credit losses, result in write-downs of asset values, restrict our ability or that of our bank subsidiary to pay dividends, or impose fines, penalties or sanctions; (xi) legislative or regulatory changes that adversely affect our business, including changes in tax laws and policies, accounting policies and practices, privacy laws, and regulatory capital or other rules; (xii) the risk that our enterprise risk management framework may not be effective in mitigating risk and reducing the potential for losses; (xiii) errors in estimates of the fair values of certain of our assets and liabilities, which may result in significant changes in valuation; (xiv) failures or security breaches with respect to the network, applications, vendors and computer systems on which we depend, including due to cybersecurity threats; (xv) our ability to attract and retain key members of our senior management team; (xvi) the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; (xvii) the impact of bank failures or other adverse developments at other banks on general depositor and investor sentiment regarding the stability and liquidity of banks; (xviii) the possibility that our recorded goodwill could become impaired, which may have an adverse impact on our earnings and capital; (xix) our existing indebtedness, together with any future incurrence of additional indebtedness, could adversely affect our ability to raise additional capital and to meet our debt obligations; (xx) the risk that we may incur significant losses on future asset sales; and (xxi) other economic, competitive, governmental, regulatory, and technological factors affecting our operations, pricing, products and services and the other risks described in this press release and from time to time in other documents that we file with or furnish to the SEC.   First Quarter 2024 Earnings | 2 

 First full quarter results post merger reflect benefits of balance sheet restructuring and initial progress  Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides at end of presentation.  Pre-tax Pre-provision income. Please see reconciliation tables in appendix for additionall detail.   Average NIM for the month of December 2023.  Wholesale funding defined as borrowings plus brokered time deposits.  1Q24 Highlights  1Q24  4Q23  Operating Results  PTPP / Adjusted PTPP(1,2)  EPS / Adjusted EPS(1)  ROAA / Adjusted ROAA(1)  ROATCE / Adjusted ROATCE(1)  NIE Ratio / Adjusted NIE Ratio(1)  NIM  ($613.0) / ($26.0)mm  ($4.55) / ($0.59)   (5.09%) / (0.56%)   (88.0%) / (10.8%)   3.83% / 2.31%    2.15%(3)   $62.4 / $67.3mm  $0.17 / $0.19   0.41% / 0.45%   5.5% / 6.0%   2.26% / 2.20%    2.78%  Cash / assets  Wholesale funding / assets(4)  Deposits / total funding  NIB ratio  Balance Sheet Results   14.0%   16.6%   91.3%   25.6%   8.6%    15.4%   93.1%   27.1%  Robust Capital  CET 1   Total Capital  BVPS  TBVPS(1)   10.1%   16.4%  $17.12  $14.96   10.1%   16.4%  $17.18  $15.07  Strong Credit Reserves  ACL ratio  NCOs   1.22%   0.22%   1.26%   0.02%  Increased profitability largely driven by expanding NIM and lower operating expenses  NIM improvement reflects ongoing actions to lower total cost of funds   Right-sized cash levels  Growing NIB and core deposit ratios  Lower reliance on wholesale funding   Growing capital and tangible book levels   Continued to strengthen reserve levels and experienced lower charge-offs  On track to achieve 4Q24 profitability targets of ~1.1% ROAA and ~13% ROTCE   First Quarter 2024 Earnings | 3 

 First Quarter 2024 Earnings Results   First Quarter 2024 Earnings | 4  Increased earnings driven by NIM expansion and lower operating expenses  Net interest income increased $88 million, or 58%:  Interest income increase due to the full-quarter impact of the combined loan portfolio  Interest expense reduction driven by 4Q23 and 1Q24 balance sheet restructuring activities and lower deposit costs  Noninterest income stable when adjusted for 4Q23 nonrecurring items, including impact of legal recoveries  Operating expense reduction reflects the early impact of the company’s integration and cost reduction initiatives  4Q23  1Q24  -0.28%  4Q23  1Q24  -0.20%  4Q23  1Q24  -0.66%  Cost of funds  Cost of deposits  Cost of interest-bearing deposits  Note: Periods prior to 4Q23 represent PACW standalone. 

  First Quarter 2024 Earnings | 5  Management Outlook Q424  4Q24 run-rate target guidance remains unchanged from 2023 year end  Profitability expectations currently assume two 25 bps Fed funds rate reductions in 2024 (one in 3Q24 and one in 4Q24), subject to market volatility  Execution of management strategy to reduce both interest expense and operating expense  Assumes generally flat loan levels at growing average yield  Does not assume a significant recession or credit event  Assumptions  Continue to improve overall profitability through execution of strategy and further optimization of the balance sheet.  Balance sheet size expected to remain stable; however, will opportunistically look to strengthen our balance sheet and maximize profitability depending on economic developments.  Execute on savings initiatives including systems conversions, facility exits, process improvements, contract renegotiations and cost eliminations.   Grow NIM through lowering the avg cost of funds, increasing yields on avg earning assets, and lowering operating expenses. 

 Core systems conversions  Execution on consolidation of facilities  Realize full operational expense savings  Continued reduction of interest expense   and improvement of deposit mix  Integration roadmap update  Items to be completed in 2Q24 - 4Q24  Closed merger with PacWest   Closed on $400mm common equity with merger  Retained key employees and clients  Sold $6 billion assets (3.6% yield)  Paid down $10 billion wholesale funding (~5% cost)  Completed announced balance sheet restructuring    and finalized plan for integration  Partial cost savings realized              3Q  4Q   4Q+   4Q+  Target  Strong execution and achievement of deal closing timeline creates opportunity to complete integration and realize full cost savings in 2024    Accomplished since announcement of deal    First Quarter 2024 Earnings | 6 

 Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides at end of presentation.  Wholesale funding defined as borrowings plus brokered time deposits.   First Quarter 2024 Earnings | 7  Balance Sheet Repositioning Continues  Increased balance sheet efficiency with improved deposit mix and lower wholesale funding  Excess 4Q23 liquidity used to pay down high cost wholesale funding sources, including brokered deposits and a portion of BTFP borrowings  Right-sized cash levels continue to provide sufficient liquidity  Deposit mix shift as company focuses on growing noninterest-bearing deposit   Core loan portfolio growth offset by run-off of discontinued portfolios resulting in stable total loans  Note: Periods prior to 4Q23 represent PACW standalone. 

 Net Interest Income and Net Interest Margin Expansion  NIM expanded 109 bps to 2.78%  NII increased $88 million driven by:  Borrowings costs decreased 126 bps: +$54mm  Loan yields increased 41 bps: +$49mm  Interest bearing deposits costs decreased 20 bps: +$13mm  Securities balances decreased, partly offset by a 20 bps increase in yields: ($7mm)  Lower cash balances: ($21mm)  1Q 2024 Highlights   First Quarter 2024 Earnings | 8  1.45%  $130.7  3Q23  1.69%  $151.0  4Q23  2.78%  $239.1  1Q24  Net Interest Income (NII) ($M) and Net Interest Margin (NIM)  Impact to NII ($M) from cumulative change in yields, rates and mix  4Q23 NII  +$54.4  Borrowings  +$49.2  Loans  +$13.0  Deposits  -$7.0  Securities  -$21.4  Cash / Other EA  1Q24 NII  $151.0  $239.1  Lower funding costs and improved asset yields and mix drive NII and NIM expansion  1.43%  $41.5  Sep ’23  2.15%  $69.4  Dec ’23  2.82%  $80.9  Mar ’24  NIM  NII  Quarter  Month  Note: Periods prior to 4Q23 represent PACW standalone. 

 Funding Cost Reduction Actions  NIB and IB deposit composition trends reflects results of balance sheet restructuring and post-merger community bank-focused strategy  Lower deposit costs reflects the paydowns of higher cost brokered deposits, increased NIB % and actions taken to reduce IB deposit costs  Strategy to pay down higher cost wholesale funding as it matures and replace it with lower-cost funding sources beginning to gain momentum  1Q24 Highlights   First Quarter 2024 Earnings | 9  3Q23  Improving Funding Mix(1)  Ongoing interest expense reduction results from focused strategy to improve deposit mix and reprice CDs lower  4Q23  1Q24  NIB Deposits  Interest-bearing deposits  Brokered CDs  Borrowings  3Q23  2.94%  7.02%  4.51%  4Q23  1Q24  Total interest-bearing liabilities  Total borrowings  Total deposits  Reduced Cost of Liabilities  Note: Periods prior to 4Q23 represent PACW standalone.  Excludes subordinated debt and accrued interest payable and other liabilities.  % of Total Funding(1) 

 Excludes gain (loss) on sale of securities and loans.  Excludes nonrecurring legal recovery of $14.5mm.  Excludes nonrecurring legal recovery of $7.6mm and elevated CRA-related fair value gain of $3.9mm.  Noninterest IncomeComposition  Consistent noninterest income, adjusted for nonrecurring items including legal recoveries   Lower lease equipment income reflects lower early lease buyouts and is offset by across the board growth in most other categories  Other income growth in 1Q24 was driven mainly by the net impact of fair value marks relative to 4Q23  Other includes revenue from BOLI, warrants, fair value mark adjustments and other miscellaneous gains or losses  1Q 2024 Highlights   First Quarter 2024 Earnings | 10  3Q23  4Q23  1Q24  $45.7  $45.5  $34.3  Other Income  Dividends and Gains on Equity Investments  Leased Equipment Income  Loan and Card Fees  Deposit Fees  Nonrecurring Legal Recoveries and Gains  ($ in millions)  $31.2mm(2)  $34.0mm(3)  Noninterest income(1) (excl. nonrecurring items in 4Q23) remains consistent and reflects diversified fee sources  Note: Periods prior to 4Q23 represent PACW standalone. 

 Excludes merger and acquisition expenses. 4Q23 NIE / avg. assets ratio is calculated by dividing $251.8 million by average assets of $37.6 billion. 1Q24 NIE / avg. assets is calculated by dividing $210.5 million by average assets of $37.5 billion.  Normalized expenses adjusted to include legacy BANC expenses for a full quarter and adjust incentive compensation to target.  Expense Reductions  4Q23 GAAP financials include only one month of legacy BANC expenses, and accordingly, we normalized December expense levels for QoQ comparison  “4Q23 normalized” expenses down approximately $73 million from 4Q23, reflecting the impact of efficiency actions taken to date  Further expense reductions expected through 4Q24 resulting from systems conversions, facility exits, process improvements and cost eliminations  1Q24 ending headcount down 350 FTE to 2,205 FTE since the announcement date  1Q24 and 4Q23 insurance & assessments included an FDIC special assessment of $4.8 million and $32.8 million, respectively  1Q 2024 Highlights  Focus on operating expense reductions to continue through 4Q24 (excludes merger-related expenses)  4Q23 Expenses  $39.6  Regulatory  $14.9  Customer Related  $13.2  Intangible Amort / Other  1Q24 Expenses  $251.8  $210.5  NIE/Avg. Assets  NIE/Avg. Assets   First Quarter 2024 Earnings | 11  4Q23 Normalized(2) expenses illustrates a hypothetical full quarter reflecting the combined company  4Q23 to 1Q24 Expense Walk  (1)  (1)  (1)  Note: Periods prior to 4Q23 represent PACW standalone. 

 Building a strong commercial deposit franchise  Focus on NIB deposits resulted in 3% annualized growth in 1Q24, and NIB deposits grew to 27.1% of total deposits  Checking increased 1.4% to 27.1% of total deposits  Deposit spot rate of 2.54% at 3/31/24 compared to 1Q24 average cost of deposits of 2.66%  Decline in average cost of funds and widening spread against Fed funds rate  Highlights  Focus on relationship banking that generates low-cost commercial deposits    First Quarter 2024 Earnings | 12  Management has a track record of successful deposit strategy execution  Average Fed Funds Rate  Average Cost of Deposits  3Q23  4Q23  1Q24  CDs  Brokered CDs  Money Market & Savings  Interest-bearing Checking  Noninterest-bearing  Note: Periods prior to 4Q23 represent PACW standalone. 

 NIB Deposit Growth is a Strategic Lever  Enterprise-wide focus  Deposit incentive programs, including competitions and leaderboards  RM performance goals include specific NIB targets  Ensure existing and new relationships have appropriate deposit balances with the bank   Line of business-specific approach to NIB growth and new customer acquisition  Highlights   First Quarter 2024 Earnings | 13  Consistently generate new low-cost commercial deposit relationships and accounts  4Q23  1Q24  $205  $308  New NIB Business Deposits ($ millions)  New NIB Business Deposits Accounts  Robust deposit gathering engine designed to build low-cost deposit base  

 Diversified Loan Portfolio  Core portfolio grew 4% annualized, offset by discontinued portfolio run-off  Core portfolio comprises 86% of total loans with low NPL and DQ ratios  Significant repricing opportunity in multifamily portfolio as loans mature  Highlights  High-quality relationship-based core portfolio is well diversified with strong metrics   First Quarter 2024 Earnings | 14  Discontinued Areas  2%  Warehouse  3%  SBA  3%  Fund Finance  3%  Equipment Lending  Venture Lending  C&I  Residential / Consumer  Construction  CRE  MF  Existing portfolios have very low historical loss rates  Note: Wtd. Avg. Rate excludes loan fees and accretion. 

 California-Centric CRE Portfolio  Over 70% of CRE portfolio located in California  Low weighted average LTV of 54.5%  Other includes mobile homes, self storage, gas stations, special use, school, place of worship and restaurants  Highlights  High quality CRE portfolio has low weighted-average LTV   CRE is well diversified across multiple industries   First Quarter 2024 Earnings | 15  5.1%  Office  Industrial  Retail  Hotel  Health Facility  Mixed Use  Other  Note: CRE excludes government guaranteed CRE collateralized SBA loans.  84% of office collateral located in California, 6% in Colorado and 10% in other states  All NPLs are reserved based on individual evaluations  Reserve ratio of 2.56% on collectively evaluated loans 

  First Quarter 2024 Earnings | 16  Asset quality ratios and trends  ACL coverage ratio increased from 1.22% to 1.26%  Targeted focus around office loans to ensure loans are reserved with appropriate conservatism  Inflows to classified loans, nonperforming loans and delinquencies were driven primarily by CIVIC loans and CRE office loans secured by office and retail properties  Approximately 40% of delinquencies are CIVIC and 10% are SFR / Consumer, detail on page 14  CIVIC loans are generally low LTV and well-collateralized  Highlights  Healthy and increasing credit reserve levels, credit quality metrics negatively impacted by CIVIC “noise”  $285.6  1.11%  1Q23  $256.8  1.15%  2Q23  $251.9  1.15%  3Q23  $311.3  1.22%  4Q23  $320.1  1.26%  1Q24  ACL  ACL / Total Loans  $87.1  0.34%  1Q23  $104.9  0.47%  2Q23  $125.4  0.57%  3Q23  $74.3  0.29%  4Q23  $146.0  0.57%  1Q24  NPLs  NPLs/Total Loans-HFI  $132.4  0.52%  1Q23  $211.9  0.95%  2Q23  $211.1  0.96%  3Q23  $228.4  0.90%  4Q23  $366.8  1.44%  1Q24  Classified  Classified Loans / Total Loans  $194.4  0.76%  1Q23  $119.8  0.54%  2Q23  $127.3  0.58%  3Q23  $144.2  0.57%  4Q23  $236.2  0.93%  1Q24  Delinquencies  Delinquencies /Total Loans  Delinquencies ($M)  Classified Loans ($M)  ACL / Total Loans ($M)  Nonperforming Loans (NPLs) ($M)  Note: Periods prior to 4Q23 represent PACW standalone. 

 Credit Migration  Highlights   First Quarter 2024 Earnings | 17  Note: CRE excludes government guaranteed CRE collateralized SBA loans.  Nonperforming loans 4Q23 to 1Q24 walk  Delinquent loans 4Q23 to 1Q24 walk  Increase in NPLs driven by four CRE loans and normally recurring “noise” in the discontinued CIVIC portfolio  CRE migration related primarily to 4 loans, 3 office and 1 retail  CRE portfolio exposure proactively mitigated through specific reserves in 1Q24, combined with low LTVs and personal guarantors  CIVIC loans have low to moderate loan to value ratios 

 1Q24 provision increases ACL coverage ratio  Allowance for Credit Losses Walk  ACL increased by $8.8 million due to $10.0 million provision, partially offset by net charge-offs of $1.2 million  Provision increase was driven by qualitative reserves related to loans secured by office properties and quantitative reserves due to higher nonaccrual and classified loans  1Q24 charge-offs driven mainly by transfer of CIVIC loans of $11 million to the HFS portfolio  Overall credit reserves include the ACL and purchase accounting credit marks on the legacy BOC portfolio, as well as the benefit of certain credit-linked notes related to the SFR portfolio   First Quarter 2024 Earnings | 18  1.22%   1.26%   ACL (12/31/23)   $(1.2)  Net Charge-offs   $10.0   Provision  ACL (3/31/24)  ($ in millions)  Total ACL coverage ratio strengthened from 1.22% to 1.26%   Highlights 

 Strong Capital Base  CET 1 ratio of 10.12% inclusive of:  Loss on previously executed sales of loans and securities  Impact of fair value marks and merger expenses  Special FDIC assessment  All regulatory capital ratios in excess of minimum “well-capitalized” levels  Focus on building capital levels for strength and flexibility   First Quarter 2024 Earnings | 19  4Q23  1Q24  Common Equity Tier 1 (CET 1)  4Q23  1Q24  Tangible Common Equity / Tangible Assets  Highlights  1Q24 capital ratios are preliminary.   Denotes a non-GAAP financial measure; see “Non-GAAP Reconciliation” slides at end of presentation. 

 High-quality securities portfolio provides upside   Securities Portfolio Detail  Average securities yield increased 20 bps quarter over quarter, driven by the impact of securities sales  Stable securities portfolio with significant repricing opportunity  Excess cash balance creates opportunity to build optimal securities portfolio over time  Portfolio Profile  Composition   Credit Rating  Average Portfolio Balances & Yields  2%  Private Label RMBS  CLO  Corporates  Gov’t & AGC  Munis  3%  0%  5%  1%  AAA  AA  A  BB  BBB  Not Rated  $6.9  2.63%  3Q23  $6.0  2.72%  4Q23  $4.7  2.92%  1Q24  Average Balance ($ in billions)  Yield   First Quarter 2024 Earnings | 20  Highlights  Note: Periods prior to 4Q23 represent PACW standalone.  Reflects fair value for AFS securities and amortized cost for HTM securities. Excludes $1.5 million loan loss reserve on HTM securities.  

 High Level of Available Liquidity  Total available primary liquidity of $4.3 billion, including unpledged AFS securities of $1.4 billion  Total available primary and secondary liquidity of $16.8 billion  Uninsured and uncollateralized deposits of $7.1 billion, which represents only 24.5% of total deposits  Total available primary and secondary liquidity was 2.4x uninsured and uncollateralized deposits  Highlights   First Quarter 2024 Earnings | 21  Maintain high levels of primary and secondary liquidity as prudent risk management  (1)  (2)  Net of haircut as of March 31, 2024.  No remaining borrowing capacity shown, program was discontinued March 2024 

  First Quarter 2024 Earnings | 22  California-based commercial bank with national reach and select specialty business lines  California Focused  National Presence & Specialty Businesses  Fresno  Monterey  Kings  Tulare  Kern  San Luis Obispo  Santa Barbara  Ventura  Los Angeles  San Bernardino  Riverside  Orange  San Diego  THE  3rd  LARGEST BANK  HEADQUARTERED IN  CALIFORNIA1  Specialty Bank Office  Community Banking Branches  Top 5 California Counties  County  Rank(2)  Dep. ($bn)  Orange  1  $13.1   Los Angeles  2  11.1  San Diego  1  1.9  San Bernardino  2  0.8  Riverside  3  0.8  HQ (Los Angeles)  Branches   HOA   Media & Entertainment   Mortgage Warehouse Lending   SBA   Fund Finance   Technology & Life Sciences   Payments Solutions  Menlo Park  Orange County  Los Angeles  Denver  San Diego  Austin  Atlanta  Chicago  Boston  New York  Chevy Chase  Durham  Phoenix  Santa Barbara  Ranked by assets.  Ranked by banks headquartered in California by deposit market share. Source: S&P Capital IQ. 

 Hamid Hussain  President of the Bank  25+ years of banking experience, previously served as EVP, Real Estate Market Executive for Wells Fargo  Olivia Lindsay  Chief Risk Officer  20+ years of experience in regulatory processes and controls, previously spent 15 years at MUFG Union Bank  Jared Wolff  President and Chief Executive Officer  30+ years of banking and law. Previously held senior executive positions with City National Bank (RBC) and PacWest Bancorp  Bob Dyck  Chief Credit Officer (outgoing)  35+ years of credit experience, previously served at PacWest Bancorp as CCO for the Community Banking Division  John Sotoodeh   Chief Operating Officer  30+ years of banking experience, previously held several key executive positions at Wells Fargo  Monica Sparks  Chief Accounting Officer  20+ years experience in accounting, previously served as EVP, Chief Accounting Officer at PacWest Bancorp   First Quarter 2024 Earnings | 23  Raymond Rindone  Deputy Chief Financial Officer and Head of Corporate Finance  30+ years finance & public accounting experience, previously served as Deputy CFO of City National Bank (RBC)  Joe Kauder   Chief Financial Officer  30+ years banking experience, previously served as EVP, CFO Wells Fargo Wholesale Banking  Bryan Corsini  Credit Administration and CCO (incoming)  35+ years banking experience, previously served as CCO of PacWest Bancorp and Director of Pacific Western Bank  Debbie Dahl-Amundson  Chief Internal Audit Officer  Leads the internal audit group and SOX Compliance, previously served as Assistant General Auditor for PNC  Bill Black  Head of Strategy and Corporate Development  25+ years of financial services experience, previously ran a financial services hedge fund  Steve Schwimmer  Chief Information Officer  25+ years of experience in banking technology, previously served as the EVP, Chief Innovation Officer at PacWest Bancorp  Stan Ivie  Head of Government and Regulatory Affairs  Previously served as the Chief Risk Officer of PacWest Bancorp & the regional director for the FDIC’s San Francisco and Dallas Regions  Experienced management team with track record of success at leading institutions  Ido Dotan  General Counsel and Chief Administrative Officer  Experienced in corporate securities, M&A, and structured finance. Previously served as EVP of Carrington Mortgage Holdings  Alex Kweskin  Chief Human Resources Officer  25+ years of Human Resources experience, previously held HR leadership roles at MUFG Union Bank and Wells Fargo 

 Appendix 

 Non-GAAP Financial Information  Tangible assets, tangible equity, tangible common equity, tangible common equity to tangible assets, tangible book value per common share, return on average tangible common equity, adjusted return on average tangible common equity, adjusted noninterest income, adjusted noninterest expense, adjusted noninterest income to adjusted total revenue, adjusted noninterest expense to average total assets, adjusted net earnings (loss) available to common stockholders, adjusted diluted earnings (loss) per diluted common share, adjusted return on average assets (“ROAA”), pre-tax pre-provision, pre-goodwill impairment (“PTPP”) income, and adjusted PTPP income constitute supplemental financial information determined by methods other than in accordance with GAAP. These non-GAAP measures are used by management in its analysis of the Company's performance.  Tangible assets and tangible equity are calculated by subtracting goodwill and other intangible assets from total assets and total stockholders’ equity. Tangible common equity is calculated by subtracting preferred stock, as applicable, from tangible equity. Return on average tangible common equity is calculated by dividing net earnings available to common stockholders, after adjustment for amortization of intangible assets and goodwill impairment, by average tangible common equity. Adjusted return on average tangible common equity is calculated by dividing adjusted net earnings available to common stockholders, after adjustment for amortization of intangible assets, goodwill impairment, and any unusual one-time items, by average tangible common equity. Banking regulators also exclude goodwill and other intangible assets from stockholders' equity when assessing the capital adequacy of a financial institution.  Adjusted net earnings (loss) is calculated by adjusting net earnings (loss) by unusual, one-time items. ROAA is calculated by dividing annualized net earnings (loss) by average assets. Adjusted ROAA is calculated by dividing annualized adjusted net earnings (loss) by average assets.   PTPP income is calculated by adding net interest income and noninterest income (total revenue) and subtracting noninterest expense. Adjusted PTPP income is calculated by adding net interest income and adjusted noninterest income (adjusted total revenue) and subtracting adjusted noninterest expense.  Management believes the presentation of these financial measures adjusting the impact of these items provides useful supplemental information that is essential to a proper understanding of the financial results and operating performance of the Company. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.  Reconciliations of these measures to measures determined in accordance with GAAP are contained on slides 26-31 of this presentation.   First Quarter 2024 Earnings | 25 

 Non-GAAP Reconciliation  Total common equity divided by common shares outstanding.  Tangible common equity divided by common shares outstanding.  Common shares outstanding include non-voting common equivalents that are participating securities.   First Quarter 2024 Earnings | 26  Note: Periods prior to 4Q23 represent PACW standalone. 4Q23 includes Oct-Dec for PACW and Dec for BANC. 

 Non-GAAP Reconciliation  Non-GAAP measure.  Ratio presented on an annualized basis.   First Quarter 2024 Earnings | 29  Note: Periods prior to 4Q23 represent PACW standalone. 4Q23 includes Oct-Dec for PACW and Dec for BANC. 

 Non-GAAP Reconciliation   First Quarter 2024 Earnings | 30  Note: Periods prior to 4Q23 represent PACW standalone. 4Q23 includes Oct-Dec for PACW and Dec for BANC.