Columbia Banking System : Q4 22 Investor Presentation

NASDAQ - COLB

4Q 2022

Mountaineer, Mount Shasta, California

Forward Looking Statements

This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate", "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that Columbia expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Columbia, particularly its most recently filed form 10-K, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.

Commercial Purse Seine Fishing Boat, Puget Sound, Washington

OVERVIEW OF COLUMBIA BANK

Lasting Strength

Sustained track record of driving long-term shareholder value

Maintained a strong capital position with ample liquidity

Seasoned acquirer with proven integration success

Low-cost deposit funding base

Award-winning company that is committed to the communities it serves

Embedded in a strong US economic region

Received a Community Reinvestment

Act rating of "Outstanding"

2

OVERVIEW OF COLUMBIA BANK

By the Numbers

$20.3 Billion in Total Assets

$11.6 Billion in Total Loans

$16.7 Billion in Total Deposits

152 Branches

14 Acquisitions

Since founded in 1993

14.0% Total Risk-Based Capital (1)

10.00% CB

9.5% Leverage Ratio (1)

5.00% CB

• Represents Well-Capitalized Regulatory Minimum

(1) Preliminary Bank Only Ratio

Apple Orchard, Yakima, Washington

Continually Building Value

April 2013

Acquired:

West Coast Bancorp $2.6B Assets

November 2014

Acquired:

Intermountain Community

Bancorp $964MM Assets

November 2017

Acquired:

Pacific Continental Corp $2.9B Assets

$19.07

$17.18 $17.50 $17.16

$20.51

$18.84

October 2021	$26.16
Acquired:
Bank of Commerce
Holdings $2.0B Assets

$23.85 $23.83

$21.72 $22.05

$21.65 $21.60

$19.17

$16.12							$16.03
$15.94				$14.90	$14.55
$15.44	$14.06
$14.15
		$13.52			$14.44
			$14.06
		$13.29
					$9.0
					$8.6
$4.9	$7.2

$15.72

$14.94$16.68

$15.42 $14.62

$12.7 $13.1

$9.5

$18.28

$17.34

$20.9 $20.3

$16.6

$14.1

2012	2013	2014	2015	2016	2017	2018	2019	2020	2021	2022
		Organic Assets
		Acquisition Assets
		Tangible Book Value per Common Share(1)
		Tangible Book Value per Common Share, excluding Accumulated Other Comprehensive Income(1)
		Adjusted Tangible Book Value per Common Share, excluding Accumulated Other Comprehensive Income and Special Dividend(1)

4	(1)	Non-GAAP financial measure. Refer to end of presentation for more information.	$ in billions except per share data

OVERVIEW OF COLUMBIA BANK

4Q 2022 Recap

Fourth quarter net income of $68.9 million; diluted earnings per share of $0.88

Pre-tax,pre-provision income(1) of $90.9 million for the quarter

Loan production of $402.5 million for the fourth-quarter

Operating efficiency ratio(1) of 48.4%

Nonperforming assets to period-end assets ratio decreased to 0.07%

The allowance for credit losses to total loans was 1.36%

Declared a regular quarterly cash dividend of $0.30

Our eighth annual Warm Hearts Winter Drive raised over $277 thousand. The total funds raised since inception of the annual drive is $2.1 million.

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(1) Non-GAAP financial measure.

Pre-tax,Pre-provision Income(1)

	Q1			Q2		Q3						Q4
					Totals may not foot due to rounding
2022	$67				$79				$89						$91	$326
2021	$66				$66			$69				$67			$267
2020	$61				$82			$64				$71		$278
2019	$59				$66		$64		$61			$250
2018	$55				$57		$63		$59		$233

$ in millions

Improved Operating Leverage

		2.61%	2.59%
			2.17%
			1.87%	1.85%
			$18,448	$20,672
(Millions)$
	$15,401
		$12,725	$13,341

2018	2019	2020	2021	2022
		Average Total Assets	$ in millions
		Core NIE/Avg Assets (1)

Refer to end of presentation for more information.