Metropolitan Bank : Investor Presentation

3Q 2023

Investor Presentation

Disclosure

This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include but are not limited to the Company's future financial condition and capital ratios, results of operations and the Company's outlook and business. Forward-looking statements are not historical facts. Such statements may be identified by the use of such words as "may,""believe,""expect,""anticipate,""plan," "continue" or similar terminology. These statements relate to future events or our future financial performance and involve risks and uncertainties that are difficult to predict and are generally beyond our control and may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we caution you not to place undue reliance on these forward-looking statements. Factors which may cause our forward- looking statements to be materially inaccurate include, but are not limited to the following: the interest rate policies of the Board of Governors of the Federal Reserve System; inflation; an unexpected deterioration in our loan or securities portfolios; changes in liquidity, including the size

and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio; further deterioration in the financial condition or stock prices of financial institutions generally; unexpected increases in our expenses; different than anticipated growth and our ability to manage our growth; the lingering effects of the COVID-19 pandemic on our business and results of operation; unanticipated regulatory action or changes in regulations; potential recessionary conditions; unanticipated volatility in deposits; unexpected increases in credit losses or in the level of delinquent, nonperforming, classified and criticized loans; our ability to absorb the amount of actual losses inherent in our existing loan portfolio; an unanticipated loss of key personnel or existing customers; competition from other institutions resulting in unanticipated changes in our loan or deposit rates; an unexpected adverse financial, regulatory or bankruptcy event experienced by our non-bank financial service partners; unanticipated increases in FDIC costs; changes in regulations, legislation or tax or accounting rules, monetary and fiscal policies of the U.S. Government including policies of the U.S. Treasury; impacts related to or resulting from recent bank failures; an unexpected failure to successfully manage our credit risk and the sufficiency of our allowance, the credit and other risks from borrower and depositor

concentrations (by geographic area and by industry); the current or anticipated impact of military conflict, terrorism or other geopolitical events; the costs, including possibly incurring fines, penalties or other negative effects (including reputational harm), of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions; a failure in or breach of the Company's operational or security systems or infrastructure, including cyberattacks; the failure to maintain current technologies, or to implement new technologies; the failure to maintain effective internal controls over financial reporting; the failure to retain or attract employees; and unanticipated adverse changes in our customers' economic conditions or general economic conditions, as well as those discussed under the heading "Risk Factors" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q which have been filed with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended.

Forward-looking statements speak only as of the date of this presentation. We do not undertake (and expressly disclaim) any obligation to update or revise any forward-looking statement, except as may be required by law.

1

Proven Growth-Oriented Business Model with Strong Risk Management, Delivering Significant Shareholder Value

1. Safe & Sound		2. Customer Centric
•	Strong, liquid balance		•	Priority on client
	sheet			execution
•	Significant capital buffer		•	Relationship-oriented

commercial lending

• Diversified deposit base

•	Proven operators	•	High touch service
•	Conservative credit	•	Diversified banking
	product suite
	culture

3. Innovative

• History of innovation since 2004
• Leading payment remittance & settlement business
• Global Payments Group ("GPG") focused on relationships with larger, reputable non-bank financial service companies with high compliance standards
• Comprehensive, flexible tech stack

4. High Performing

• Top quartile profitability
• Exceptional margin management
• Balanced revenue mix
• Sustainable positive operating leverage
• Strong, consistent organic capital generation

2

1	Safe & Sound
Highly Liquid and Resilient Balance Sheet

Deposit Growth		CET1 Ratio1
| ($ bn)	Scaling deposits in rising	Q3'23	Q2'23	Q2'23
	rate environment
		11.9%	11.9%	11.8%

$5.5

$5.3

4Q 2022	3Q 2023	Metropolitan	Metropolitan	Median²
Commercial Bank	Commercial Bank

Loan Growth	Non-interest bearing Deposit %
| ($ bn)
	Q3'23	Q2'23	Q2'23

	32.7%
	31.6%			27.1%
$5.4
$4.8

4Q 2022	3Q 2023	Metropolitan	Metropolitan	Median²
		Commercial Bank	Commercial Bank

Deposit Profile

at September 30, 2023

75%

Insured deposits

224%

Uninsured Deposit

Coverage Ratio3

BBB+

Kroll Deposit Rating

1	Common Equity Tier 1 Capital Ratio
2	Source: S&P Global Market Intelligence. Peers represent public banks with asset size between $5-$50 billion at June 30, 2023.
3	Cash and available secured borrowing capacity divided by uninsured deposits.	3

Customer Centric

2 Relationship Banking with Strong Client Execution

• Our Business Bankers have deep knowledge and expertise across multiple industries (e.g. law firms, resident healthcare, real estate property management, U.S. Trustee
  and Municipalities).
• Full suite of retail financial service products targeting small, middle-market
  commercial businesses.

White-glove concierge service and a full suite of digital banking services allowing

clients to easily manage their everyday banking needs.

• Commercial Lending group offers an array of commercial and industrial lending products providing our clients with custom lending solutions.
• Commercial Real Estate ("CRE") Lending group has proven track record of successfully navigating today's complex real estate market.

The Global

Payments

business

provides

services to

non-bank financial service companies, serving as an issuing

bank for 3rd party debit card programs, while providing other financial infrastructure, including cash settlement and custodian

deposit services.

Our Mission

• Helping clients build and sustain generational wealth since 1999.
• To offer a full range of banking and innovative financial services to businesses and individuals embracing an ever-evolving digital banking era.
• Enhance our position as a leader in the settlement of global digital payments bringing people around the world closer together.
• Be the critical financial infrastructure for select clients to access our global payments settlement platform.

Diversified Client Base

$5.4bn	$60.8mm
Loan balance1	GPG Client transactions
	YTD 2023

1 Loans, net of deferred fees and costs.

4

3	Innovative
Innovative Payment Solutions Providing Critical

Financial Infrastructure

GPG is an established leader in providing global payments infrastructure to non-bankfinancial services companies

	Payments / Cash	Payroll
	Settlement
E-Wallet		Debit
	Cards

Global Payments

Group Product Suite

Merchant	Prepaid
Acquiring
Cards

Cross Border

Deposit

MoneyCustody

Remittance

Fee and deposit-based business model built for scale

• Business to business to customers ("B2B2C") model with low client acquisition costs to MCB
• Payment settlement with transaction fee income
• Custodian of low-cost deposits

Supported by:

• Robust technology infrastructure enabling clients to process electronic payments easily
• Strong risk management program designed to ensure regulatory compliance

5

High Performing

4 Track Record of Strong Operating Performance

Strong book value growth since IPO	Top quartile profitability
Tangible Book Value per Share1	YTD 2023

				$50.11	$51.70	$56.51	$257mm	0.0%
			$39.25				Last twelve months Revenue	Avg. Last 5 Year Net Charge-offs % /
						Average Loans
		$34.15
	$30.34
$27.04
						50.4%	3.5%
							Efficiency Ratio	Net Interest Margin*
2017	2018	2019	2020	2021	2022	3Q 2023	Q2'23 - 49.9% vs. 51.1% peer top	Q2'23 - 3.7% vs. 3.7% peer top
							quartile5	quartile

Consistent EPS growth

Diluted EPS	1.3%	1.9%

				$6.45			Return on Average Assets*	Pre-Provision Net Revenue /
						Q2'23 - 1.3% vs. 1.4% peer top	Average Assets*
					$5.29	$5.61	quartile5	Q2'23 - 2.0% vs. 2.0% peer top
							quartile5
			$4.66
						13.9%
	$3.06	$3.56
$2.34							Return on Average Tangible
							Common Equity*,1
2017	2018	2019	2020	2021	ĩ	:5%Ī	Q2'23 13.8% vs. 14.3% peer median5

1	Non-GAAP financial measure. See reconciliation to GAAP measure on slide 24.
2	CAGR from December 31, 2017 through Q3'23

5 Includes a $5.5 million reversal of the regulatory settlement reserve recorded in in the fourth quarter of 2022. 6 Source: S&P Global Market Intelligence. Peers represent public banks with asset size between $5-$50 billion.

3	CAGR from December 31, 2017 through Q3'23 annualized.
4	Includes a $35.0 million charge for a regulatory settlement reserve in the fourth quarter of 2022.

* Annualized

6

High Performing

4 Well Managed Net Interest Margin

Net Interest Margin Analysis

						Average Fed Funds Rate¹							MCB Net Interest Margin ("NIM")²				4.93%
3.52%	3.70%	3.46%										3.49%
3.26%				3.53%
									2.77%
1.00%	1.83%	2.16%										1.68%
			0.36%	0.08%
2017	2018	2019	2020	2021	2022	YTD 2023

Estimated Sensitivity of Projected Annualized Net Interest Income

at September30, 2023

Fixed vs. Floating Rate Loans

at September 30 ,2023 for loans due after one year

-200 bps

-100 bps

+100 bps

+200 bps

5.34%

2.85%

-3.41%

-7.21%

1. Represents effective average daily Fed Funds rate.
2. Represents full-year NIM, except 2023, which represents annualized NIM for the nine months ended September 30, 2023.

Floating

30%

Fixed

70%

Approximately 81% of floating rate loans have floors - Weighted average floor of 4.98%

7

Commercial Bank

8

Loan Portfolio Growth and Diversification

$5.4 billion Gross Loan Portfolio1, 2

at September 30, 2023 | $ millions

					$5,370
				$5,165	$69
		$4,853	$4,865	$72
	$4,629	$78	$82	$955	$977
$4,386	$76
$78	$869	$909	$936
$781				$1,494	$1,509
	$1,296	$1,362	$1,319
$1,268

Diversified Loan Portfolio

at September 30, 2023

3%

9%

		CRE (Non Owner Occupied)
18%	41%	CRE (Owner Occupied)
	C&I
		Multifamily
		Construction
		Other

28%

$2,259 $2,388 $2,504 $2,528 $2,644

$2,815

Total loans: $5,370 mm

Average 3Q Yield: 6.80%

CRE/RBC ratio3: MCB 375%

2Q 2022 3Q 2022 4Q 2022 1Q 2023 2Q 2023 3Q 2023

1. Gross of deferred fees and unamortized costs.
2. Certain prior period amounts adjusted to conform to current presentation.
3. Excludes owner-occupied.

• Includes consumer and 1-4 family loans.
• Includes commercial real estate, multifamily and construction loans.

9