Amerant Bancorp : Investor Presentation August 2023

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Important Notices and Disclaimers	2

Forward-Looking Statements

This presentation contains "forward-looking statements" including statements with respect to the Company's objectives, expectations and intentions and other statements that are not historical facts. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target," "goals," "outlooks," "modeled," "dedicated," "create," and other similar words and expressions of the future.

Forward-looking statements, including those relating to our beliefs, plans, objectives, goals, expectations, anticipations, estimates and intentions, involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the Company's actual results, performance, achievements, or financial condition to be materially different from future results, performance, achievements, or financial condition expressed or implied by such forward-looking statements. You should not rely on any forward-looking statements as predictions of future events. You should not expect us to update any forward-looking statements, except as required by law. All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, together with those risks and uncertainties described in "Risk factors" in our annual report on Form 10-K for the fiscal year ended December 31, 2022 filed on March 1, 2023 (the "Form 10-K"), our quarterly report on Form 10-Q for the quarter ended March 31, 2023 filed on May 2, 2023, and in our other filings with the U.S. Securities and Exchange Commission (the "SEC"), which are available at the SEC's website www.sec.gov.

Interim Financial Information

Unaudited financial information as of and for interim periods, including the three month periods ended June 30, 2023, March 31, 2023, December 31, 2022, June 30, 2022 and March 31, 2022, may not reflect our results of operations for our fiscal year ending, or financial condition as of December 31, 2023, or any other period of time or date.

As previously disclosed in the Form 10-K, the Company adopted the new guidance on accounting for current expected credit losses on financial instruments ("CECL") effective as of January 1, 2022. Quarterly amounts previously reported on our quarterly reports on Form 10-Q for the periods ended March 31, 2022, June 30, 2022 and September 30, 2022 do not reflect the adoption of CECL. In the fourth quarter of 2022, the Company recorded a provision for credit losses totaling $20.9 million, including $11.1 million related to the retroactive effect of adopting CECL for all previous quarterly periods in the year ended December 31, 2022, including loan growth and changes to macro-economic conditions during the period. Recast amounts included in the earnings release and accompanying presentation reflect the impacts of the adoption of CECL on each interim period of 2022. See the Form 10-K for more details on the adoption of CECL and related effects to quarterly results for each quarter in the year ended December 31, 2022.

Non-GAAP Financial Measures

The Company supplements its financial results that are determined in accordance with accounting principles generally accepted in the United States of America ("GAAP") with non-GAAP financial measures, such as "pre-provision net revenue (PPNR)", "core pre-provision net revenue (Core PPNR)", "core noninterest income", "core noninterest expenses", "core net income", "core return on assets (Core ROA)", "core return on equity (Core ROE)", "core efficiency ratio", "tangible stockholders' equity (book value) per common share", "tangible common equity ratio, adjusted for unrealized losses on debt securities held to maturity", and "tangible stockholders' equity (book value) per common share, adjusted for unrealized losses on debt securities held to maturity", and "tangible stockholders' book value per common share, adjusted for unrealized losses on securities held to maturity". This supplemental information is not required by, or is not presented in accordance with GAAP. The Company refers to these financial measures and ratios as "non-GAAP financial measures" and they should not be considered in isolation or as a substitute for the GAAP measures presented herein.

We use certain non-GAAP financial measures, including those mentioned above, both to explain our results to shareholders and the investment community and in the internal evaluation and management of our businesses. Our management believes that these non-GAAP financial measures and the information they provide are useful to investors since these measures permit investors to view our performance using the same tools that our management uses to evaluate our past performance and prospects for future performance, especially in light of the additional costs we have incurred in connection with the Company's restructuring activities that began in 2018 and continued in 2023, including the effect of non-core banking activities such as the sale of loans and securities and other repossessed assets, the valuation of securities, derivatives, loans held for sale and other real estate owned, impairment of investments, early repayment of FHLB advances, and other non-recurring actions intended to improve customer service and operating performance. While we believe that these non-GAAP financial measures are useful in evaluating our performance, this information should be considered as supplemental and not as a substitute for or superior to the related financial information prepared in accordance with GAAP. Additionally, these non-GAAP financial measures may differ from similar measures presented by other companies. Exhibit 2 reconciles these non-GAAP financial measures to reported results.

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Investment Opportunity Highlights	3

• Established franchise with high scarcity value; presence in attractive, high-growth markets of Miami, Tampa and Houston
• Strong and diverse deposit base; deposits first focus
• Strong reserve coverage and disciplined credit culture
• Net interest income continues to grow with balance sheet growth
• Significant fee income opportunities from wealth management services
• Executing on digital transformation; fintech driven strategy
• Well capitalized; committed to enhancing shareholder returns via dynamic capital management
• Executing on recently developed Impact program

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Key Updates 2023	4

Loans:

• Growth YTD of $297 million, or 4.30%, and QoQ of $102 million or 1.43% for the quarter ended June 30, 2023
• Increase primarily in commercial loans, partially offset by continued reduction in indirect consumer loans outstanding given termination of purchases under program last year

Deposits:

• Growth YTD of $535 million, or 7.60%, and QoQ of $293 million or 4.02% for the quarter ended June 30, 2023
• Loan to deposit ratio is now 95.2% compared to 97.6% for 1Q23 and 98.2% for 4Q22
• Focused on organic deposit growth and improving deposit mix

Banking Center Rationalization continues:

• Additions:
• • Key Biscayne, FL opened on June 26, 2023
  • Downtown Miami, Tampa and Ft. Lauderdale, FL locations planned to open by 4Q23
  • New in 2Q23 - San Felipe/River Oaks location in Houston, TX under agreement; OCC approval in place
• Consolidations:
• • FM 1960 location in Houston, TX - completed on June 2, 2023. Merged with Champions banking center.
  • New in 2Q23 - Edgewater, FL location expected to merge in 4Q23 with Downtown Miami

Stock Repurchase - $25 million Class A common stock share repurchase program in place; $22 million available as of 2Q23

• 1Q23 (pre mid-March): Repurchased 22,403 shares for $0.6 million (average price of $25.25 per share or 1.2X Price to Book Value
• 2Q23 (May and June): Repurchased 95,262 shares for $1.7 million (average price of $17.42 per share or 0.8X Price to Book Value)

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Executive Team Updates

Sharymar Calderon

EVP, Chief Financial Officer

• Appointed Executive Vice President, Chief Financial Officer (CFO) in June 2023
• Served as Senior Vice President, Head of Internal Audit at Amerant since June 2021
• 9-yeartenure at PricewaterhouseCoopers
• Licensed CPA in both Florida and Puerto Rico

Carlos Iafigliola

SEVP, Chief Operating Officer

• Appointed Senior Executive Vice President, Chief Operating Officer (COO) in June 2023
• Previously served as EVP, CFO from May 2020 through May 2023
• Has a degree in Economics from Universidad Católica Andrés Bello and a Masters in Finance from Instituto de Estudios Superiores de Administración

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Caroline Verot Moore

EVP, Houston Market President

• Appointed Executive Vice President, Houston Market President in April 2023
• Previously served as Houston Market Executive at Fifth Third Bank since 2019
• Holds M.B.A. from the University of Notre Dame in South Bend, Indiana and is a Chartered Financial Analyst

Juan Esterripa

SEVP, Head of Commercial Banking

• Appointed Senior Executive Vice President, Head of Commercial Banking in April 2023
• Previously served as EVP, Wholesale Banking Executive at City National Bank - Florida since 2016
• Harvard Business School executive management program graduate

People - Finalized all expected executive team moves and further optimized structure

• New Head of Commercial Banking and Houston market president onboarded in April 2023
• New Chief Financial Officer announced in May 2023 and started in role June 1, 2023
• Merged retail and business banking into one unit to gain synergies between the two lines of business under one leader
• Rationalized organization in several other support areas; will result in future period efficiency and personnel expense savings, improved ratio of customer facing vs. support positions
• Continuing to selectively add key business development personnel in all three markets we serve, including the hire of the private banking leader in Houston, TX who starts August 7, 2023. Three key additions in commercial banking in south FL started in late July 2023

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