Seacoast Banking of Florida : Fourth Quarter Conference Call Presentation

EARNINGS PRESENTATION

FOURTH QUARTER 2022

2022

Cautionary Notice Regarding Forward-Looking Statements

This presentation contains "forward-looking statements" within the meaning, and protections, of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements about future financial and operating results, cost savings, enhanced revenues, economic and seasonal conditions in the Company's markets, and improvements to reported earnings that may be realized from cost controls, tax law changes, new initiatives and for integration of banks that the Company has acquired, including Apollo Bancshares, Inc. and Drummond Banking Company, or expects to acquire, including Professional Holding Corp. as well as statements with respect to Seacoast's objectives, strategic plans, expectations and intentions and other statements that are not historical facts, any of which may be impacted by the COVID-19 pandemic and any variants thereof and related effects on the U.S. economy. Actual results may differ from those set forth in the forward-looking statements.

Forward-looking statements include statements with respect to the Company's beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates and intentions about future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company's control, and which may cause the actual results, performance or achievements of Seacoast to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. You should not expect the Company to update any forward-looking statements.

All statements other than statements of historical fact could be forward-looking statements. You can identify these forward-looking statements through the use of words such as "may", "will", "anticipate", "assume", "should", "support", "indicate", "would", "believe", "contemplate", "expect", "estimate", "continue", "further", "plan", "point to", "project", "could", "intend", "target" or other similar words and expressions of the future. These forward-looking statements may not be realized due to a variety of factors, including, without limitation: the impact of current and future economic and market conditions generally (including seasonality) and in the financial services industry, nationally and within Seacoast's primary market areas, including the effects of inflationary pressures, elevated interest rates, slowdowns in economic growth, and the potential for high unemployment rates, as well as the financial stress on borrowers and changes to customer and client behavior (including the velocity of loan repayment) and credit risk as a result of the foregoing; governmental monetary and fiscal policies, including interest rate policies of the Board of Governors of the Federal Reserve, as well as legislative, tax and regulatory changes, including those that impact the money supply and inflation; the risks of changes in interest rates on the level and composition of deposits (as well as the cost of, and competition for, deposits), loan demand, liquidity and the values of loan collateral, securities, and interest rate sensitive assets and liabilities; interest rate risks, sensitivities and the shape of the yield curve; the adverse impact of COVID-19 (economic and otherwise) on the Company and its customers, counterparties, employees, and third-party service providers, and the adverse impacts to our business, financial position, results of operations and prospects; government or regulatory responses to the COVID-19 pandemic; changes in accounting policies, rules and practices, including the impact of the adoption of the current expected credit losses ("CECL") methodology; uncertainty related to the impact of LIBOR calculations on securities, loans and debt; changes in retail distribution strategies, customer preferences and behavior generally and as a result of economic factors; changes in the availability and cost of credit and capital in the financial markets; changes in the prices, values and sales volumes of residential and commercial real estate; the Company's concentration in commercial real estate loans and in real estate collateral in Florida; our ability to comply with any regulatory requirements; the effects of problems encountered by other financial institutions that adversely affect Seacoast or the banking industry; inaccuracies or other failures from the use of models, including the failure of assumptions and estimates, as well as differences in, and changes to, economic, market and credit conditions; the impact on the valuation of Seacoast's investments due to market volatility or counterparty payment risk, as well as the effect of a fall in stock market prices on our fee income from our brokerage and wealth management businesses; statutory and regulatory dividend restrictions; increases in regulatory capital requirements for banking organizations generally; the risks of mergers, acquisitions and divestitures, including Seacoast's ability to continue to identify acquisition targets, successfully acquire and integrate desirable financial institutions and realize expected revenues and revenue synergies; changes in technology or products that may be more difficult, costly, or less effective than

anticipated; the Company's ability to identify and address increased cybersecurity risks, including as a result of employees working remotely; inability of Seacoast's risk management framework to manage risks associated with the Company's business; dependence on key suppliers or vendors to obtain equipment or services for the business on acceptable terms, including the impact of supply chain disruptions; reduction in or the termination of Seacoast's ability to use the online- or mobile-based platform that is critical to the Company's business growth strategy; the effects of war or other conflicts, including the impacts related to or resulting from Russia's military action in Ukraine, acts of terrorism, natural disasters, health emergencies, epidemics or pandemics, or other catastrophic events that may affect general economic conditions; unexpected outcomes of and the costs associated with, existing or new litigation involving the Company, including as a result of the Company's participation in the Paycheck Protection Program ("PPP"); Seacoast's ability to maintain adequate internal controls over financial reporting; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation, regulatory proceedings and enforcement actions; the risks that deferred tax assets could be reduced if estimates of future taxable income from the Company's operations and tax planning strategies are less than currently estimated and sales of capital stock could trigger a reduction in the amount of net operating loss carryforwards that the Company may be able to utilize for income tax purposes; the effects of competition from other commercial banks, thrifts, mortgage banking firms, consumer finance companies, credit unions, non-bank financial technology providers, securities brokerage firms, insurance companies, money market and other mutual funds and other financial institutions operating in the Company's market areas and elsewhere, including institutions operating regionally, nationally and internationally, together with such competitors offering banking products and services by mail, telephone, computer and the Internet; the failure of assumptions underlying the establishment of reserves for possible credit losses.

The risks relating to the merger with Professional Holding Corp. include, without limitation: the diversion of management's time on issues related to the merger; unexpected transaction costs, including the costs of integrating operations; the risks that the businesses will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; the potential failure to fully or timely realize expected revenues and revenue synergies, including as the result of revenues following the mergers being lower than expected; the risk of deposit and customer attrition; regulatory enforcement and litigation risk; any changes in deposit mix; unexpected operating and other costs, which may differ or change from expectations; the risks of customer and employee loss and business disruptions, including, without limitation, as the result of difficulties in maintaining relationships with employees; increased competitive pressures and solicitations of customers by competitors; as well as the difficulties and risks inherent with entering new markets.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in the Company's annual report on Form 10-K for the year ended December 31, 2021 and quarterly reports on Form 10-Q for the quarters ended March 31, 2022, June 30, 2022, and September 30, 2022 under "Special Cautionary Notice Regarding Forward-Looking Statements" and "Risk Factors", and otherwise in the Company's SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at www.sec.gov.

FOURTH QUARTER 2022 EARNINGS PRESENTATION		2

Valuable Florida Franchise, Well-Positioned with Strong Capital

SEACOAST BANK FOOTPRINT1

Tampa

St. Petersburg

MSA

Naples

Fort Myers

MSA

• Reflects October 2022 acquisitions of Apollo Bank and Drummond Bank

Jacksonville

MSA

Orlando

MSA

Port St. Lucie

MSA

West Palm Beach

Fort Lauderdale

Miami

MSA

• $12.1 billion in assets as of December 31, 2022, operating in the nation's third-most populous state
• Strong presence in Florida's most attractive markets
• • #1 Florida-based bank in Orlando MSA
  • #1 Florida-based bank in Palm Beach county
  • #1 market share in Port St. Lucie MSA
  • #2 Florida-based bank in St. Petersburg
• A top three publicly traded community bank headquartered in Florida

• Market Cap: $2.2 billion as of December 31, 2022
• Diverse customer base concentrated in the strongest markets in Florida
• Prudent capital position, supporting further organic growth and opportunistic acquisitions
• Unique customer analytics capabilities, driving value creation with new, acquired, and existing customers

FOURTH QUARTER 2022 EARNINGS PRESENTATION		3

Florida's Continuing Economic Strength

Attracted by Florida's favorable business climate and lower taxes, individual and business migration to Florida has surged. The significant inflow of wealth has positively impacted the state's fiscal and economic health.

14.6%	#1
Between 2010 and 2020,	Florida was the top state for
Florida's population grew at	net in-migration for the fifth
twice the rate of overall U.S.	consecutive year
population growth

Florida Announces Surplus of

$21.8 Billion for Fiscal Year 2021-22

For the second consecutive year, Florida's corporate income tax collections exceeded the fiscal budgeted amount. As a result, the Florida Dept of Revenue refunded the excess to corporationsin April 2022

Domestic Wealth Migration, 2020

States with the Largest Net Gains/Losses of Adjusted Gross Income from Migration, in Billions

Florida

Florida

Texas

$23.7 Billion

Arizona

North Carolina

South Carolina

New York

California

Illinois

Massachusetts

New Jersey

$(25)B

$(20)B $(15)B $(10)B $(5)B

$0B

$5B

$10B $15B $20B $25B $30B

Sources: US Census data; The Florida Legislature Office of Economic & Demographic Research, FL Dept of Revenue, Wall Street Journal

FOURTH QUARTER 2022 EARNINGS PRESENTATION		4

Fourth Quarter 2022 Highlights

Comparisons are to third quarter of 2022 unless otherwise stated

• Net interest margin expanded 69 basis points to 4.36%. Excluding the effects of accretion on acquired loans, net interest margin expanded 43 basis points to 4.01%.
• Cost of deposits remains low at 21 basis points.
• Pre-taxpre-provision earnings increased 7% to $46.0 million. On an adjusted basis, pre-taxpre-provision earnings1 increased 36% to $66.6 million, and pre-taxpre-provision return on tangible assets1 increased to 2.28%.
• Disciplined organic loan growth of 14% on an annualized basis, ending the period with 82% loan to deposit ratio.
• Loan yields expanded 84 basis points to 5.29%.

• Continued strong asset quality trends, with nonperforming loans representing 0.35% of total loans.
• Continued success building wealth management franchise, ending the year with assets under management at $1.4 billion, an increase of 12% when compared to December 31, 2021.
• Completed the acquisitions of Apollo Bancshares, Inc. and Drummond Banking Company on October 7, 2022.
• Announced the proposed acquisition of Professional Holding Corp., the holding company of Professional Bank, expected to close in the first quarter of 2023.

1Non-GAAP measure, see "Explanation of Certain Unaudited Non-GAAP Financial Measures" for more information and a reconciliation to GAAP.

FOURTH QUARTER 2022 EARNINGS PRESENTATION		5